With Vietnam's GDP rising every year, the population dividend, coincided with the take-off phase of the economy, but also led the market for the Vietnam light. According to data from the Vietnam Lighting Association (Vietnam Lighting Association), the value of the Vietnam LED lighting market will reach $854 million trillion over the next three years (equivalent to about 5.655 billion yuan) and an annual growth rate of 25%.
LED lighting market in Europe and the United States is becoming more saturated, while the Chinese market suppliers, price competition, emerging markets such as India, Southeast Asia, South America and the Middle East and other regions of the LED lighting market is around the corner.
In south-East Asian countries, Vietnam showed Bright eyes, Ledinside's south-East Asia Lighting market report showed that the 2016 Vietnam lighting market scale of 348 million U.S. dollars, penetration rate of more than 40%, estimated to 2018 permeability can reach 51%.
Tran Dinh BAC, vice chairman and Secretary-General of the Viet Nam Chamber of Commerce and Industry, points out that the current lighting power accounts for about 35% of the country's electricity consumption in Viet Nam, which could save 20.8 billion kWh (kw/kwh) by 2020, reducing the amount of carbon dioxide emitted by 9 million tonnes by 50%.
At present, the LED manufacturers in Vietnam are still Philips, Osram and other foreign manufacturers as the largest, followed by Vietnam's domestic manufacturers Dien Quang, Rang Dong, Duhal and so on. However, Vietnamese manufacturers focus on the downstream assembly, lack of the overall industrial chain, so led the overall industry chain still has a great development space.
Vietnam's domestic led manufacturers in total about 200, however, the Vietnam lighting market still has many uneven LED lighting products, the problem in its lack of consistent product specifications and related departments monitoring.
Tran believes that Vietnam should learn from other countries, set up a set of LED product standards in line with the East (ASEAN) and other developed countries, and the Government should also strengthen supervision to ensure that enterprises have a transparent and open competitive environment.