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Vietnam LED Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024

The Vietnam LED market reached a value of US$ 248.7 Million in 2018. The report further anticipates the market to reach values worth US$ 818.2 Million by 2024, representing a CAGR of 21% over the forecast period. Light-emitting diodes (LEDs) are semiconductor devices that generate non-coherent, narrow-spectrum light when forward voltage is applied. The first LED was an infrared-emitting device patented in 1961 and the first practical visible spectrum LED was developed in 1962. Currently, LEDs are incorporated into bulbs and fixtures for general lighting applications. A well designed LED lighting system has several advantages over the conventional lighting system using incandescent or florescent technologies such as better efficiency, durability, versatility, smaller in size, longer-lasting and environment-friendly. Another big advantage of using LED lighting system is that it does not radiate heat as in incandescent or florescent light bulbs. A heat sink, which is a passive device, draws away the heat from LEDs by absorbing it and dispersing it into the surrounding environment. This prevents LED products from getting overheated or burnt-out.

Vietnam LED Market Report

In Vietnam, LED technology was first introduced in traffic lights and the advertisement industry.  The apparent advantages of the LED technology in lighting system have driven its use in several other sectors also. Across Vietnam, incandescent bulbs, especially in street lighting, are being replaced with LED bulbs. The Vietnamese government is vigorously endorsing the use of LED lighting through two major projects - Vietnam Energy Efficient Public Lighting Project (VEEPL) and Vietnam National Energy Efficiency Plan (VNEEP) – aiming to reduce energy consumption and carbon footprints. Driven by its numerous advantages over conventional lighting technologies, the market for LED lighting in Vietnam is witnessing robust growth and is expected to dominate the country’s lighting industry in the coming years.

IMARC’s latest study “Vietnam LED Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024” provides a techno-commercial roadmap for setting up an LED manufacturing plant in Vietnam. The study, which has been done by one of the world’s leading research and advisory firms, covers all the requisite aspects of the LED market. This ranges from macro overview of the market to micro details of the industry performance, processing and manufacturing requirements, project cost, project funding, project economics including expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the Vietnam LED industry in any manner.

Key Questions Answered in This Report:

  • How has the global LED lighting market performed so far and how will it perform in the coming years?
  • What are the key regional markets in the global LED lighting industry?
  • Which are the key application areas in the global LED lighting industry?
  • What are the key product types in the global LED lighting industry?
  • How has the Vietnam LED lighting market performed so far and how will it perform in the coming years?
  • What are the key product types in the Vietnam LED lighting industry?
  • Which are the key end-use industries in the Vietnam LED lighting industry?
  • What are the various stages in the value chain of the LED lighting industry?
  • What are the key driving factors and challenges in the LED lighting industry?
  • What is the structure of the Vietnam LED lighting industry and who are the key players?
  • What is the degree of competition in the Vietnam LED lighting industry?
  • What are the profit margins in the Vietnam LED lighting industry?
  • What are the key requirements for setting up a LED lighting manufacturing plant?
  • How is SMD LED manufactured?
  • How is SMD LED module manufactured?
  • How is SMD LED based street light manufactured?
  • What are the various unit operations involved in a SMD LED based street light manufacturing plant?
  • What is the total size of land required for setting up a SMD LED based street light manufacturing plant?
  • What are the machinery requirements for setting up a SMD LED based street light manufacturing plant?
  • What are the raw material requirements for setting up a SMD LED based street light manufacturing plant?
  • What are the packaging requirements for SMD LED, SMD LED module and SMD LED based street light?
  • What are the transportation requirements for SMD LED, SMD LED module and SMD LED based street light?
  • What are the utility requirements for setting up a SMD LED based street light manufacturing plant?
  • What are the manpower requirements for setting up a SMD LED based street light manufacturing plant?
  • What are the infrastructure costs for setting up a SMD LED based street light manufacturing plant?
  • What are the capital costs for setting up a SMD LED based street light manufacturing plant?
  • What are the operating costs for setting up a SMD LED based street light manufacturing plant?
  • What will be the income and expenditures for a SMD LED based street light manufacturing plant?
  • What is the time required to break-even?

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    Market Breakup by Product Type
    7.5    Market Breakup by Application
    7.6    Market Breakup by Installation Type
    7.7    Market Forecast
    7.8    SWOT Analysis
        7.8.1    Overview
        7.8.2    Strengths
        7.8.3    Weaknesses
        7.8.4    Opportunities
        7.8.5    Threats
    7.9    Value Chain Analysis
        7.9.1    Raw Material Procurement
        7.9.2    Manufacturing
        7.9.3    Marketing
        7.9.4    Distribution
        7.9.5    Exports
        7.9.6    End-Use
    7.10    Porter’s Five Forces Analysis
        7.10.1    Overview
        7.10.2    Bargaining Power of Buyers
        7.10.3    Bargaining Power of Suppliers
        7.10.4    Degree of Competition
        7.10.5    Threat of New Entrants
        7.10.6    Threat of Substitutes
    7.11    Key Market Drivers and Success Factors
    7.12    Key Risk Factors for LED Manufacturers 
    7.13    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

List of Figures

Figure 1: Global: LED Industry Overview
Figure 2: Global: LED Market: Volume Trends (in Billion Units), 2011 - 2018
Figure 3: Global: LED Market: Value Trends (in Billion US$), 2011 - 2018
Figure 4: Global: LED Market: Breakup by Region (in %), 2018
Figure 5: Global: LED Market: Breakup by Application (in %), 2018
Figure 6: Global: LED Lamps and Modules Market: Sales Volume (in Million Units), 2011-2018
Figure 7: Global: LED Fixtures Market: Sales Volume (in Million Units), 2011-2018
Figure 8: Global: LED Lamps and Modules Market Forecast: Sales Volume (in Million Units), 2019-2024
Figure 9: Global: LED Fixtures Market Forecast: Sales Volume (in Million Units), 2019-2024
Figure 10: Global: LED Market Forecast: Volume Trends (in Billion Units), 2019-2024
Figure 11: Global: LED Market Forecast: Value Trends (in Billion US$), 2019-2024
Figure 12: Vietnam: Lighting Industry Overview
Figure 13: Vietnam: Lighting Market: Value Trends (in Billion US$), 2011-2018
Figure 14: Vietnam: Lighting Market: Breakup by Application (in %), 2018
Figure 15: Vietnam: Lighting Market: Breakup by Technology (in %), 2018
Figure 16: Vietnam: Lighting Market Forecast: Value Trends (in Billion US$), 2019-2024
Figure 17: Vietnam: LED Market: Value Trends (in Million US$), 2011-2018
Figure 18: Vietnam: LED Light Manufacturing: Price Structure (in %)
Figure 19: Vietnam: LED Market: Breakup by Product Type (in %), 2018
Figure 20: Vietnam: LED Market: Breakup by Application (in %), 2018
Figure 21: Vietnam: LED Market: Breakup by Installation Type (in %), 2018
Figure 22: Vietnam: LED Lighting Market Forecast: Value Trends (in Billion US$), 2019-2024
Figure 23: Vietnam: LED Lighting Market: Bulb and Tube light (in Million US$), 2011 & 2018
Figure 24: Vietnam: LED Lighting Market Forecast: Bulb and Tube light (in Million US$), 2019-2024
Figure 25: Vietnam: LED Lighting Market: Panel Light (in Million US$), 2011 & 2018
Figure 26: Vietnam: LED Lighting Market Forecast: Panel Light (in Million US$), 2019-2024
Figure 27: Vietnam: LED Lighting Market: Street Light (in Million US$), 2011 & 2018
Figure 28: Vietnam: LED Lighting Market Forecast: Street Light (in Million US$), 2019-2024
Figure 29: Vietnam: LED Lighting Market: Down Light (in Million US$), 2011 & 2018
Figure 30: Vietnam: LED Lighting Market Forecast: Down Light (in Million US$), 2019-2024
Figure 31: Vietnam: LED Lighting Market: Flood Light (in Million US$), 2011 & 2018
Figure 32: Vietnam: LED Lighting Market Forecast: Flood Light (in Million US$), 2019-2024
Figure 33: Vietnam: LED Lighting Market: Other Product Types (in Million US$), 2011 & 2018
Figure 34: Vietnam: LED Lighting Market Forecast: Other Product Types (in Million US$), 2019-2024
Figure 35: Vietnam: LED Lighting Market: Commercial Applications (in Million US$), 2011 & 2018
Figure 36: Vietnam: LED Lighting Market Forecast: Commercial Applications (in Million US$), 2019-2024
Figure 37: Vietnam: LED Lighting Market: Residential Applications (in Million US$), 2011 & 2018
Figure 38: Vietnam: LED Lighting Market Forecast: Residential Applications (in Million US$), 2019-2024
Figure 39: Vietnam: LED Lighting Market: Institutional Applications (in Million US$), 2011 & 2018
Figure 40: Vietnam: LED Lighting Market Forecast: Institutional Applications (in Million US$), 2019-2024
Figure 41: Vietnam: LED Lighting Market: Industrial Applications (in Million US$), 2011 & 2018
Figure 42: Vietnam: LED Lighting Market Forecast: Industrial Applications (in Million US$), 2019-2024
Figure 43: Vietnam: LED Lighting Market: New Installation (in Million US$), 2011 & 2018
Figure 44: Vietnam: LED Lighting Market Forecast: New Installation (in Million US$), 2019-2024
Figure 45: Vietnam: LED Lighting Market: Retrofit Installation (in Million US$), 2011 & 2018
Figure 46: Vietnam: LED Lighting Market Forecast: Retrofit Installation (in Million US$), 2019-2024
Figure 47: SMD LED Manufacturing Plant: Raw Material Requirements
Figure 48: SMD LED Manufacturing Plant: Detailed Process Flow
Figure 49: SMD LED Manufacturing Plant: Various Unit Operations Involved
Figure 50: SMD LED Module Manufacturing: Raw Material Requirements
Figure 51: SMD LED Module Manufacturing Plant: Detailed Process Flow
Figure 52: SMD LED Module Manufacturing Plant: Various Types of Unit Operations Involved
Figure 53: SMD LED Based Street Light Manufacturing: Conversion Rate of Products
Figure 54: SMD LED Based Street Light Manufacturing: Detailed Process Flow
Figure 55: SMD LED Based Street Light Manufacturing: Various Types of Unit Operations Involved
Figure 56: SMD LED, SMD LED Module and SMD LED Based Fixture (Street Light) Manufacturing: Breakup of Capital Costs (in %)
Figure 57: SMD LED, SMD LED Module and SMD LED Based Fixture (Street Light) Manufacturing: Profit Margins at Various Levels of the Supply Chain
Figure 58: 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, 2018 and 2024
Table 2: Global: LED Lighting Market Forecast: Breakup by Region, 2019-2024
Table 3: Global: LED Lighting Market Forecast: Breakup by Application, 2019-2024
Table 4: Vietnam: Lighting Market: Key Industry Highlights, 2018 and 2024
Table 5: Vietnam: LED Lighting Market: Key Industry Highlights, 2018 and 2024
Table 6: Vietnam: LED Lighting Market Forecast: Breakup by Product Type, 2019-2024
Table 7: Vietnam: LED Lighting Market Forecast: Breakup by Application (in Million US$), 2019-2024
Table 8: Vietnam: LED Lighting Market Forecast: Breakup by Installation Type (in Million US$), 2019-2024
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 US$)
Table 12: SMD LED, SMD LED Module and SMD LED Based Fixture (Street Light) Manufacturing Plant: Costs Related to Civil Works (in US$)
Table 13: SMD LED, SMD LED Module and SMD LED Based Fixture (Street Light) Manufacturing Plant: Machinery Costs (in US$)
Table 14: SMD LED, SMD LED Module and SMD LED Based Fixture (Street Light) Manufacturing Plant: Raw Material Requirements
Table 15: SMD LED, SMD LED Module and SMD LED Based Fixture (Street Light) Manufacturing Plant: Power Consumption (in KWh), First Year
Table 16: SMD LED, SMD LED Module and SMD LED Based Fixture (Street Light) Manufacturing Plant: Power Consumption (in KWh), Second Year Onwards
Table 17: SMD LED, SMD LED Module and SMD LED Based Fixture (Street Light) Manufacturing Plant: Costs Related to Utilities (in US$), First Year
Table 18: SMD LED, SMD LED Module and SMD LED Based Fixture (Street Light) Manufacturing Plant: Costs Related to Utilities (in US$), Second Year Onwards
Table 19: SMD LED, SMD LED Module and SMD LED Based Fixture (Street Light) Manufacturing Plant: Costs Related to Salaries and Wages (in US$), 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 US$), Second Year Onwards
Table 21: SMD LED, SMD LED Module and SMD LED Based Fixture (Street Light) Manufacturing Plant: Costs Related to Other Capital Investments (in US$)
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 US$)
Table 24: SMD LED, SMD LED Module and SMD LED Based Fixture (Street Light) Manufacturing Plant: Techno-Economic Parameters
Table 25: SMD LED, SMD LED Module and SMD LED Based Fixture (Street Light) Manufacturing Plant: Income Projections (in US$)
Table 26: SMD LED, SMD LED Module and SMD LED Based Fixture (Street Light) Manufacturing Plant: Expenditure Projections (in US$)
Table 27: SMD LED, SMD LED Module and SMD LED Based Fixture (Street Light) Manufacturing Plant: Cash Flow Analysis Without Considering the Income Tax Liability (in US$)
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 US$)
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

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