Vietnam LED Lighting Market Size, Share, Growth and Forecast | 2034

Vietnam LED Lighting Market Outlook

According to the report by Expert Market Research (EMR), the Vietnam LED lighting market size reached a value of USD 723.74 Million in 2024. Driven by the increasing demand for energy-efficient lighting solutions and the growing adoption of LED technology in various applications, the market is projected to grow at a CAGR of 6.80% between 2025 and 2034, reaching a value of USD 1397.32 Million by 2034.

LED (Light Emitting Diode) lighting has emerged as one of the most innovative and energy-efficient technologies in the lighting industry. Unlike traditional lighting solutions, LEDs consume significantly less power, have a longer lifespan, and offer superior brightness and quality of light. These attributes make LED lighting the preferred choice for both residential and commercial applications, contributing to the expansion of the LED lighting market in Vietnam.

The increasing focus on energy efficiency and sustainability, alongside the rising awareness of the environmental benefits of LED lighting, is driving the widespread adoption of LED technology across various sectors, including residential, commercial, industrial, and outdoor applications. As the country continues to urbanize and industrialize, the demand for efficient and cost-effective lighting solutions is expected to further fuel the growth of the Vietnam LED lighting market.

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Key Drivers of Growth

Several factors are driving the growth of the Vietnam LED lighting market, including government initiatives, technological advancements, and changing consumer preferences.

One of the primary drivers of the market is the government’s push for energy efficiency and environmental sustainability. The Vietnamese government has been increasingly implementing policies to promote the adoption of energy-efficient technologies, including LED lighting, in both residential and commercial settings. These initiatives are in line with the government’s commitment to reducing energy consumption and minimizing the country’s carbon footprint. In 2020, the government launched its National Energy Efficiency Program, which focuses on promoting energy-efficient products and technologies, including LED lighting, to reduce the country’s energy demand.

The ongoing technological advancements in LED lighting are also contributing to market growth. The continuous development of LED technology has led to improvements in light quality, efficiency, and cost-effectiveness, making it an attractive option for consumers and businesses. Moreover, the introduction of smart lighting systems, which incorporate Internet of Things (IoT) connectivity and advanced control features, has further enhanced the functionality and appeal of LED lighting solutions. These smart lighting solutions enable consumers and businesses to manage their lighting systems more efficiently, leading to greater energy savings and convenience.

Furthermore, the increasing awareness among consumers about the environmental benefits of LED lighting has contributed to its widespread adoption. LEDs consume less power compared to traditional incandescent and fluorescent bulbs, reducing both electricity bills and greenhouse gas emissions. This has made LED lighting a popular choice among environmentally conscious consumers, particularly in urban areas where energy efficiency is a key concern.

Vietnam LED Lighting Market Segmentation

The market can be divided based on type, installation type, and end use.

Market Breakup by Type

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

Market Breakup by Installation Type

• New Installation
• Retrofit Installation

Market Breakup by End Use

• Residential
• Commercial
• Industrial
• Institutional
• Others

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the Vietnam LED lighting market. Some of the major players explored in the report by Expert Market Research are as follows:

• Rang Dong Light Source and Vacuum Flask JSC (Ralaco)
• Dien Quang Light Source Company
• Asled Co., Ltd
• Others

Challenges and Opportunities

Despite the significant growth prospects, the Vietnam LED lighting market faces certain challenges that could impact its growth trajectory. One of the key challenges is the relatively high upfront cost of LED lighting products compared to traditional lighting solutions. Although the long-term savings on electricity bills and maintenance costs make LEDs more cost-effective over time, the initial investment can be a barrier for price-sensitive consumers, particularly in rural areas. However, as competition in the LED lighting market intensifies and production processes become more streamlined, prices are expected to decrease, making LED lighting more accessible to a wider range of consumers.

Another challenge is the lack of awareness and education regarding the benefits of LED lighting in some segments of the population. While urban areas are seeing widespread adoption of LED lighting, rural areas may still rely on traditional lighting solutions due to a lack of knowledge about the advantages of LEDs, such as their energy efficiency and longer lifespan. To overcome this challenge, increased awareness campaigns and government incentives will be crucial in encouraging more widespread adoption.

The growing demand for smart lighting systems presents a significant opportunity for the Vietnam LED lighting market. As consumers increasingly seek convenience, energy efficiency, and control over their lighting systems, the demand for smart LED solutions is expected to rise. These systems allow users to control their lighting remotely through mobile apps or voice assistants, enabling them to adjust brightness levels, set schedules, and optimize energy usage. This trend is expected to drive the growth of LED lighting in both residential and commercial applications.

Additionally, the expansion of infrastructure and urbanization in Vietnam presents substantial opportunities for the growth of the LED lighting market. With new buildings, residential complexes, commercial spaces, and public infrastructure projects being developed, the demand for energy-efficient and cost-effective lighting solutions is set to increase, further boosting the market.