Summary

The Vietnam LED lighting market size reached USD 735.0 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 1,227.0 Million by 2033, exhibiting a growth rate (CAGR) of 5.9% during 2025-2033. The rising environmental concerns across the globe, the increasing need to reduce carbon footprint and energy consumption, and favorable government regulations represent some of the key factors driving the market.

Enhanced Manufacturing Efficiency is Augmenting the Market Growth

The scalable production capacity of an LED manufacturing facility is one of the critical components for its successful operation. The ability to continually modify production capabilities to accommodate changes in demand clearly separates the more successful firms from those that are not as successful within this volume-driven industry. In addition, gaining and sustaining a share of the market is facilitated by the capability to raise capacity in accordance with demand, which eventually results in greater output and enhanced profitability.

Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. The market structure is concentrated with three big companies and other foreign companies due to their dominance and significant control over the price of the final product. The volume of new entrants is low in the LED lighting industry due to high capital investments, and loyalty towards specific brands.

What is LED Lighting?

LED lighting, or light-emitting diode lighting, is a highly efficient and versatile lighting technology. Unlike traditional incandescent bulbs, which produce light by heating a filament, LEDs produce light by passing a current through a semiconductor material. This technology allows LED lighting to consume far less energy while producing the same light, making it a highly efficient and cost-effective lighting solution. It is used in various settings, from residential homes to commercial buildings and public spaces. It is commercially available in numerous colors and intensities, making it ideal for creating different moods and atmospheres. It also has a long lifespan, typically tens of thousands of hours, reducing the need for frequent replacements and lowering maintenance costs. It produces less heat, which can help reduce cooling costs in buildings. Additionally, it is often dimmable, allowing for further energy savings by adjusting the light output to suit the needs of the space. It is a more environmentally friendly option than traditional lighting solutions. It is also more easily recyclable, reducing the waste generated by lighting replacements.

COVID-19 Impact:

The COVID-19 epidemic has significantly impacted many businesses throughout the world, including the LED lighting sector in Vietnam. The sector, which was expanding quickly prior to the pandemic, has seen a sharp decline in demand as a result of the global economic slowdown and the lockdowns put in place across the country. The disruption of supply chains, which has resulted in a lack of the raw materials and components needed to produce LED lights, is one of the main causes of the decline in the LED lighting sector in Vietnam. Additionally, the pandemic had an impact on the market for LED lights as a result of the economic downturn delaying numerous government and building projects. However, with the increased awareness regarding the importance of hygiene and cleanliness, there has been an increased demand for UV-C LED lights that can help disinfect surfaces and air. This has led to many manufacturers in Vietnam shifting their focus to the production of these specialized LED lights.

Vietnam LED Lighting Market Trends:

The escalating environmental concerns majorly drive the market in Vietnam. With the increasing problems associated with climate change and environmental sustainability, consumers and businesses are adopting methods to reduce their carbon footprint and energy consumption, further impacting the market. LED lighting is a highly energy-efficient lighting solution, consuming less energy than traditional lighting technologies, such as incandescent and fluorescent bulbs. In addition, they are free from hazardous materials, such as mercury, making them a safer and more sustainable option. Therefore, an enhanced focus on sustainable development is driving the market across the country. Along with this, the government of Vietnam is undertaking various regulations and initiatives to promote energy-efficient lighting solutions and reduce greenhouse gas emissions, thereby propelling the market. This, in turn, is encouraging manufacturers to develop more efficient and sustainable products. In addition to this, the widespread adoption of LED lighting across residential and commercial lighting applications due to their long lifespan and lower energy consumption is also significantly supporting the market. Furthermore, continual technological advancements in LED technology to improve the efficiency and performance of LEDs are creating a positive market outlook. Besides this, various key players in the market are integrating advanced technologies, such as Wi-Fi, sensors, Bluetooth, and voice assistants, with smart LED lighting solutions that enable homeowners to effectively and conveniently control or adjust the LED lighting levels as well as turn lights on and off on the basis of the occupancy and ambient light levels remotely in real time via smartphone applications or voice commands. These product variants are gaining widespread prominence among the masses, thus favorably impacting the growth of the market. Some of the other factors contributing to the market include rapid urbanization, the increasing number of commercial spaces requiring ample lighting, inflating per capita income levels, and improving living standards of the masses.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the Vietnam LED lighting market report, along with forecasts for the period 2025-2033. Our report has categorized the market based on product type, application and installation type.

Product Type Insights:

? Bulb and Tube Light
? Panel Light
? Street Light
? Down Light
? Flood Light
? Others

The report has provided a detailed breakup and analysis of the Vietnam LED lighting market based on the product type. This includes bulb and tube light, panel light, street light, down light, flood light, and others. According to the report, panel light represented the largest segment due to its energy efficiency, longevity, and flexibility. Additionally, the increasing demand for energy-efficient lighting solutions is leading to the adoption of LED lights, including panel lights, in various applications. Moreover, the declining prices of LED lighting products have made them more accessible to a wider range of customers, further impacting the market.

Application Insights:

? Commercial
? Residential
? Institutional
? Industrial

A detailed breakup and analysis of the Vietnam LED lighting market based on the application have also been provided in the report. This includes commercial, residential, institutional, and industrial. According to the report, residential applications accounted for the largest market share due to the growing demand for energy-efficient and eco-friendly lighting solutions. Additionally, the decreasing cost of LED lights has made it more accessible to consumers, further driving their adoption in residential applications.

Installation Type Insights:

? New Installation
? Retrofit Installation

The report has provided a detailed breakup and analysis of the Vietnam LED lighting market based on the installation type. This includes new installation and retrofit installation. According to the report, retrofit installation represented the largest segment due to the increasing demand for energy-efficient lighting solutions has prompted businesses and homeowners to retrofit their existing lighting systems with LED technology. In addition, government regulations and incentives are also playing a crucial role in driving the retrofit market.

Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the Vietnam LED lighting market.

Key Questions Answered in This Report
1.What was the size of the Vietnam LED lighting market in 2024?
2.What is the expected growth rate of the Vietnam LED lighting market during 2025-2033?
3.What are the key factors driving the Vietnam LED lighting market?
4.What has been the impact of COVID-19 on the Vietnam LED lighting market?
5.What is the breakup of the Vietnam LED lighting market based on the product type?
6.What is the breakup of the Vietnam LED lighting market based on the application?
7.What is the breakup of the Vietnam LED lighting market based on the installation type?

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Table of Contents

1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global LED Lighting Industry
5.1 Market Overview
5.2 Market Performance
5.2.1 Volume Trends
5.2.2 Value Trends
5.3 Market Breakup by Region
5.4 Market Breakup by Application
5.5 Market by LED Products: LED Lamps, Modules and Fixtures
5.5.1 Current and Historical Market Trends
5.5.2 Market Forecast
5.6 Market Forecast
6 Vietnam Lighting Industry
6.1 Market Overview
6.2 Market Performance
6.3 Market Breakup by Application
6.4 Market Breakup by Technology
6.5 Market Forecast
7 Vietnam LED Industry
7.1 Market Overview
7.2 Market Performance
7.2.1 Volume Trends
7.2.2 Value Trends
7.3 Price Analysis
7.3.1 Key Price Indicators
7.3.2 Price Structure
7.3.3 Price Trends
7.4 Impact of COVID-19
7.5 Market Breakup by Product Type
7.6 Market Breakup by Application
7.7 Market Breakup by Installation Type
7.8 Market Forecast
7.9 SWOT Analysis
7.9.1 Overview
7.9.2 Strengths
7.9.3 Weaknesses
7.9.4 Opportunities
7.9.5 Threats
7.10 Value Chain Analysis
7.10.1 Raw Material Procurement
7.10.2 Manufacturing
7.10.3 Marketing
7.10.4 Distribution
7.10.5 Exports
7.10.6 End-Use
7.11 Porter’s Five Forces Analysis
7.11.1 Overview
7.11.2 Bargaining Power of Buyers
7.11.3 Bargaining Power of Suppliers
7.11.4 Degree of Competition
7.11.5 Threat of New Entrants
7.11.6 Threat of Substitutes
7.12 Key Market Drivers and Success Factors
7.13 Key Risk Factors for LED Manufacturers
7.14 Comparison of LED’s with Conventional Lighting Technologies
8 Market Breakup by Product Type
8.1 Bulb and Tube Light
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Panel Light
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Street Light
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Down Light
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 Flood Light
8.5.1 Market Trends
8.5.2 Market Forecast
8.6 Others
8.6.1 Market Trends
8.6.2 Market Forecast
9 Market Breakup by Application
9.1 Commercial Application
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Residential Application
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Institutional Application
9.3.1 Market Trends
9.3.2 Market Forecast
9.4 Industrial Application
9.4.1 Market Trends
9.4.2 Market Forecast
10 Market Breakup by Installation Type
10.1 New Installation
10.1.1 Market Trends
10.1.2 Market Forecast
10.2 Retrofit Installation
10.2.1 Market Trends
10.2.2 Market Forecast
11 Competitive Landscape
11.1 Market Structure
11.2 Market Breakup by Key Players
12 SMD LED Manufacturing Process
12.1 Product Overview
12.2 Detailed Process Flow
12.3 Various Types of Unit Operations Involved
12.4 Mass Balance and Raw Material Requirements
12.5 Major Machinery Pictures
13 SMD LED Module Manufacturing Process
13.1 Product Overview
13.2 Detailed Process Flow
13.3 Various Types of Unit Operations Involved
13.4 Mass Balance and Raw Material Requirements
13.5 Major Machinery Pictures
14 SMD LED Based Fixture (Street Light) Manufacturing Process
14.1 Product Overview
14.2 Detailed Process Flow
14.3 Various Types of Unit Operations Involved
14.4 Mass Balance and Raw Material Requirements
14.5 Major Machinery Pictures
15 Project Details, Requirements and Costs Involved
15.1 Land Requirements and Expenditures
15.2 Construction Requirements and Expenditures
15.3 Plant Machinery
15.4 Raw Material Requirements and Expenditures
15.5 Raw Material and Final Product Pictures
15.6 Packaging Requirements and Expenditures
15.7 Transportation Requirements and Expenditures
15.8 Utility Requirements and Expenditures
15.9 Manpower Requirements and Expenditures
15.10 Other Capital Investments
16 Loans and Financial Assistance
17 Project Economics
17.1 Capital Cost of the Project
17.2 Techno-Economic Parameters
17.3 Product Pricing and Margins Across Various Levels of the Supply Chain
17.4 Taxation and Depreciation
17.5 Income Projections
17.6 Expenditure Projections
17.7 Financial Analysis
17.8 Profit Analysis
18 Key Player Profiles

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List of Tables/Graphs

List of Figures

Figure 1: Global: LED Industry Overview
Figure 2: Global: LED Market: Volume Trends (in Billion Units), 2019-2024
Figure 3: Global: LED Market: Value Trends (in Billion USD???), 2019-2024
Figure 4: Global: LED Market: Breakup by Region (in %), 2024
Figure 5: Global: LED Market: Breakup by Application (in %), 2024
Figure 6: Global: LED Lamps and Modules Market: Sales Volume (in Million Units), 2019-2024
Figure 7: Global: LED Fixtures Market: Sales Volume (in Million Units), 2019-2024
Figure 8: Global: LED Lamps and Modules Market Forecast: Sales Volume (in Million Units), 2025-2033
Figure 9: Global: LED Fixtures Market Forecast: Sales Volume (in Million Units), 2025-2033
Figure 10: Global: LED Market Forecast: Volume Trends (in Billion Units), 2025-2033
Figure 11: Global: LED Market Forecast: Value Trends (in Billion USD???), 2025-2033
Figure 12: Vietnam: Lighting Industry Overview
Figure 13: Vietnam: Lighting Market: Value Trends (in Billion USD???), 2019-2024
Figure 14: Vietnam: Lighting Market: Breakup by Application (in %), 2024
Figure 15: Vietnam: Lighting Market: Breakup by Technology (in %), 2024
Figure 16: Vietnam: Lighting Market Forecast: Value Trends (in Billion USD???), 2025-2033
Figure 17: Vietnam: LED Lighting Market: Value Trends (in Million USD???), 2019-2024
Figure 18: Vietnam: LED Light Manufacturing: Price Structure (in %)
Figure 19: Vietnam: LED Lighting Market: Breakup by Product Type (in %), 2024
Figure 20: Vietnam: LED Lighting Market: Breakup by Application (in %), 2024
Figure 21: Vietnam: LED Lighting Market: Breakup by Installation Type (in %), 2024
Figure 22: Vietnam: LED Lighting Market Forecast: Value Trends (in Million USD???), 2025-2033
Figure 23: Vietnam: LED Lighting Industry: SWOT Analysis
Figure 24: Vietnam: LED Lighting Industry: Value Chain Analysis
Figure 25: Vietnam: LED Lighting Industry: Porter’s Five Forces Analysis
Figure 26: Vietnam: LED Lighting Market: Bulb and Tube Light (in Million USD???), 2019 & 2024
Figure 27: Vietnam: LED Lighting Market Forecast: Bulb and Tube Light (in Million USD???), 2025-2033
Figure 28: Vietnam: LED Lighting Market: Panel Light (in Million USD???), 2019 & 2024
Figure 29: Vietnam: LED Lighting Market Forecast: Panel Light (in Million USD???), 2025-2033
Figure 30: Vietnam: LED Lighting Market: Street Light (in Million USD???), 2019 & 2024
Figure 31: Vietnam: LED Lighting Market Forecast: Street Light (in Million USD???), 2025-2033
Figure 32: Vietnam: LED Lighting Market: Down Light (in Million USD???), 2019 & 2024
Figure 33: Vietnam: LED Lighting Market Forecast: Down Light (in Million USD???), 2025-2033
Figure 34: Vietnam: LED Lighting Market: Flood Light (in Million USD???), 2019 & 2024
Figure 35: Vietnam: LED Lighting Market Forecast: Flood Light (in Million USD???), 2025-2033
Figure 36: Vietnam: LED Lighting Market: Other Product Types (in Million USD???), 2019 & 2024
Figure 37: Vietnam: LED Lighting Market Forecast: Other Product Types (in Million USD???), 2025-2033
Figure 38: Vietnam: LED Lighting Market: Commercial Applications (in Million USD???), 2019 & 2024
Figure 39: Vietnam: LED Lighting Market Forecast: Commercial Applications (in Million USD???), 2025-2033
Figure 40: Vietnam: LED Lighting Market: Residential Applications (in Million USD???), 2019 & 2024
Figure 41: Vietnam: LED Lighting Market Forecast: Residential Applications (in Million USD???), 2025-2033
Figure 42: Vietnam: LED Lighting Market: Institutional Applications (in Million USD???), 2019 & 2024
Figure 43: Vietnam: LED Lighting Market Forecast: Institutional Applications (in Million USD???), 2025-2033
Figure 44: Vietnam: LED Lighting Market: Industrial Applications (in Million USD???), 2019 & 2024
Figure 45: Vietnam: LED Lighting Market Forecast: Industrial Applications (in Million USD???), 2025-2033
Figure 46: Vietnam: LED Lighting Market: New Installation (in Million USD???), 2019 & 2024
Figure 47: Vietnam: LED Lighting Market Forecast: New Installation (in Million USD???), 2025-2033
Figure 48: Vietnam: LED Lighting Market: Retrofit Installation (in Million USD???), 2019 & 2024
Figure 49: Vietnam: LED Lighting Market Forecast: Retrofit Installation (in Million USD???), 2025-2033
Figure 50: SMD LED Manufacturing Plant: Raw Material Requirements
Figure 51: SMD LED Manufacturing Plant: Detailed Process Flow
Figure 52: SMD LED Manufacturing Plant: Various Unit Operations Involved
Figure 53: SMD LED Module Manufacturing: Raw Material Requirements
Figure 54: SMD LED Module Manufacturing Plant: Detailed Process Flow
Figure 55: SMD LED Module Manufacturing Plant: Various Types of Unit Operations Involved
Figure 56: SMD LED Based Street Light Manufacturing: Conversion Rate of Products
Figure 57: SMD LED Based Street Light Manufacturing: Detailed Process Flow
Figure 58: SMD LED Based Street Light Manufacturing: Various Types of Unit Operations Involved
Figure 59: SMD LED, SMD LED Module and SMD LED Based Fixture (Street Light) Manufacturing: Breakup of Capital Costs (in %)
Figure 60: SMD LED, SMD LED Module and SMD LED Based Fixture (Street Light) Manufacturing: Profit Margins at Various Levels of the Supply Chain
Figure 61: SMD LED, SMD LED Module and SMD LED Based Fixture (Street Light) Manufacturing: Breakup of Manufacturing Costs (in %)

List of Tables

Table 1: Global: LED Lighting Market: Key Industry Highlights, 2024 and 2033
Table 2: Global: LED Lighting Market Forecast: Breakup by Region, 2025-2033
Table 3: Global: LED Lighting Market Forecast: Breakup by Application, 2025-2033
Table 4: Vietnam: Lighting Market: Key Industry Highlights, 2024 and 2033
Table 5: Vietnam: LED Lighting Market: Key Industry Highlights, 2024 and 2033
Table 6: Vietnam: LED Lighting Market Forecast: Breakup by Product Type (in Million USD???), 2025-2033
Table 7: Vietnam: LED Lighting Market Forecast: Breakup by Application (in Million USD???), 2025-2033
Table 8: Vietnam: LED Lighting Market Forecast: Breakup by Installation Type (in Million USD???), 2025-2033
Table 9: Comparison of LED’s with Incandescent Bulb and Compact Fluorescent Lamps (Based on Energy Efficiency and Environmental Impact)
Table 10: Comparison of LED’s with Incandescent Bulb and Compact Fluorescent Lamps (Based on Luminous Flux)
Table 11: SMD LED, SMD LED Module and SMD LED Based Fixture (Street Light) Manufacturing Plant: Costs Related to Land and Site Development (in USD???)
Table 12: SMD LED, SMD LED Module and SMD LED Based Fixture (Street Light) Manufacturing Plant: Costs Related to Civil Works (in USD???)
Table 13: SMD LED, SMD LED Module and SMD LED Based Fixture (Street Light) Manufacturing Plant: Machinery Costs (in USD???)
Table 14: SMD LED, SMD LED Module and SMD LED Based Fixture (Street Light) Manufacturing Plant: Raw Material Requirements
Table 15: SMD LED, SMD LED Module and SMD LED Based Fixture (Street Light) Manufacturing Plant: Power Consumption (in KWh), First Year
Table 16: SMD LED, SMD LED Module and SMD LED Based Fixture (Street Light) Manufacturing Plant: Power Consumption (in KWh), Second Year Onwards
Table 17: SMD LED, SMD LED Module and SMD LED Based Fixture (Street Light) Manufacturing Plant: Costs Related to Utilities (in USD???), First Year
Table 18: SMD LED, SMD LED Module and SMD LED Based Fixture (Street Light) Manufacturing Plant: Costs Related to Utilities (in USD???), Second Year Onwards
Table 19: SMD LED, SMD LED Module and SMD LED Based Fixture (Street Light) Manufacturing Plant: Costs Related to Salaries and Wages (in USD???), First Year
Table 20: SMD LED, SMD LED Module and SMD LED Based Fixture (Street Light) Manufacturing Plant: Costs Related to Salaries and Wages (in USD???), Second Year Onwards
Table 21: SMD LED, SMD LED Module and SMD LED Based Fixture (Street Light) Manufacturing Plant: Costs Related to Other Capital Investments (in USD???)
Table 22: Details of Financial Assistance Offered by Financial Institutions
Table 23: SMD LED, SMD LED Module and SMD LED Based Fixture (Street Light) Manufacturing Plant: Capital Costs (in USD???)
Table 24: SMD LED, SMD LED Module and SMD LED Based Fixture (Street Light) Manufacturing Plant: Techno-Economic Parameters
Table 25: SMD LED, SMD LED Module and SMD LED Based Fixture (Street Light) Manufacturing Plant: Income Projections (in USD???)
Table 26: SMD LED, SMD LED Module and SMD LED Based Fixture (Street Light) Manufacturing Plant: Expenditure Projections (in USD???)
Table 27: SMD LED, SMD LED Module and SMD LED Based Fixture (Street Light) Manufacturing Plant: Cash Flow Analysis Without Considering the Income Tax Liability (in USD???)
Table 28: SMD LED, SMD LED Module and SMD LED Based Fixture (Street Light) Manufacturing Plant: Cash Flow Analysis on Considering the Income Tax Liability (in USD???)
Table 29: SMD LED Manufacturing Plant: Profit and Loss Account
Table 30: Vietnam: LED Lighting Market: Competitive Structure
Table 31: Vietnam: LED Lighting Market: Key Players