Thailand LED Market to Grow at 23.38% During 2022-2027, Spurred by Numerous Subsidies Offered by the Government

August 14, 2020

According to the latest report by IMARC Group, titled "Thailand LED Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the LED market size in Thailand is expected to grow at a CAGR of 23.38% during 2022-2027. Light emitting diodes (LEDs) are semiconductor devices that generate narrow-spectrum light. An electric current is passed through the microchip present in the LED to illuminate the device and produce visible light. LED lights are directional light sources that offer high brightness and intensity with a diverse color range. They use heat sinks to absorb the heat produced by the device, which is further dissipated into the surroundings to prevent them from overheating. As a result, they emit little to no heat and greenhouse gases (GHGs) while being characterized by an extended lifespan. Additionally, they offer instantaneous illumination, improved efficiency, fast switching options and unique design opportunities. They are consequently replacing traditional technologies, including incandescent, fluorescent, and compact fluorescent lights, across numerous application segments.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Thailand LED Market Trends:

The market is primarily driven by the growing demand for energy-efficient lighting solutions in Thailand. Increasing energy consumption and high electricity prices in the country have contributed to the growing awareness regarding power conservation among the masses. This, along with the rising demand for superior lighting technologies, has bolstered the sales of LED lights significantly. There has also been a gradual shift from traditional lighting technologies to LEDs due to their versatility, low maintenance costs and other associated benefits. Apart from this, there has been a significant expansion of both residential and infrastructural projects in the country, supported by the growing influx of tourists in Thailand. This has impelled builders to utilize high-performing and efficient lighting solutions, which, in turn, is facilitating the uptake of LED lights. Furthermore, the Government of Thailand is offering numerous subsidies for energy conservation programs across the public and private sectors. They are also focusing on reducing the costs of LEDs in the country to make them more affordable for the general public. Moreover, the Electricity Generating Authority of Thailand (EGAT) and the Provincial Electricity Authority (PEA) are undertaking initiatives to promote the usage of these lights across the country. Also, the growing utilization of LEDs in the automotive, healthcare and consumer electronic sectors is acting as another major growth-inducing factor.

Market Summary:

  • Based on the product type, the market has been divided into panel lights, down lights, street lights, tube lights, bulbs and others.
  • On the basis of the application, the market has been classified into commercial, residential, institutional, industrial and others.
  • Based on the installation type, the market has been bifurcated into new and retrofit installations.
  • On the geographical front, the market has been segmented into Northern, Northeastern, Western, Central, Eastern and Southern Thailand.
  • The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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Thailand LED Market to Grow at 23.38% During 2022-2027, Spurred by Numerous Subsidies Offered by the Government
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