Industry News

Vietnam LED Lighting Market: Industry Trends, Growth, Opportunity and Forecast 2022-2027


In 2021, the Vietnam LED lighting market reached a value of US$ 604 Million. Looking forward, IMARC Group expects the market to reach US$ 943 Million by 2027, exhibiting a CAGR of 7.5% during 2022-2027.

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. 

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 strong growth and is expected to dominate the country’s lighting industry in the coming years.

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