WHY TO PARTICIPATE
VIETNAM – A POTENTIAL MARKET FOR DEVELOPING LED / OLED INDUSTRY
FORECAST HIGHER DAILY NEEDS FOR LED PRODUCTS
As LED lights help reduce excess energy usage and carbon footprint, they have significantly replaced incandescent lights in the streets of Vietnam. In fact, the Government of Vietnam is promoting the use of LED lights to reduce high electricity consumption in the country by implementing programs such as the Vietnam Energy Efficient Public Lighting Project (VEEPL) and the Vietnam National Energy Efficiency Program (VNEEP).
Specifically, the data are as follows, according to the draft of a project titled “Proposed roadmap for the development of the LED lighting industry until 2025”, the demand for electricity use and consumption for lighting in Vietnam. The South is estimated to be about 83.5 billion kWh by 2020 and could double up to 10 years.
The aforementioned draft also shows the solution to the competition of domestic and foreign enterprises. Thereby, the indicators for the quality of LED products must meet international standards, which are set out with the aim of limiting the mixing and penetration of fake and poor quality LEDs. on the market.
In addition, urbanization, rising per capital incomes, rising population, and infrastructure development are some of the other variables that have further encouraged the market growth.
FIELDS OF APPLICATION
In Vietnam, LED are now being used in various sectors, such as traffic lighting, street lighting, industrial lighting, etc. The increasing use of LEDs in high-technology products like television, digital cameras, smartphone, or even cars has also resulted in an increased demand for LEDs in Vietnam.
Through the above general assessment, it can be seen that Vietnam is a potential market for many domestic and foreign enterprises trading in new technology Led lamps.
LED/OLED MARKET OF EACH DOMESTIC AND FOREIGN ENTERPRISES
Considering the actual situation in the LED market in Vietnam, domestic enterprises have advantages and advantages greater than foreign ones because of government policies.
Today, large domestic enterprises such as Dien Quang Lamp Joint Stock Company or Rang Dong Thermostatic Light Joint Stock Company are seizing opportunities to produce Led lamps to supply to the market.
In particular, Dien Quang JSC is building a new technology Led factory in the High-Tech Park located in District 9, with a total investment of up to 600 billion VND.
Besides, Rang Dong Joint Stock Company is no less competitive when it invests a huge amount of capital to expand the factory for the purpose of producing all kinds of Led lights to the outside market. Moreover, Rang Dong is also planning to invest in building new factories to contribute to increasing the company’s market share in the LED market to 20-30%.
In addition to the investment development of domestic enterprises, foreign businesses are also equally formidable competitors. For example, a foreign enterprise in the field of LED business Philips also invests a large amount in the LED market in Vietnam.
In the financial statements of Philips in the first 6 months of the year, this company confirmed that Led lights were a strategic business product in the future. Philips also uses policies to reduce product prices to be able to compete with domestic businesses, gaining a majority of market share now.
Not only that, Korean companies such as City Lighting and E-GM Tech also realize that the LED market in Vietnam is a very potential market because LEDs are not too popular, capable of developing. future high.
LEDTEC ASIA 2021 – VIETNAM INL’T LED / OLED AND DIGITAL SIGNAGE EXHIBITION
The only professional trade fair in Vietnam entirely dedicated to the LED/OLED and lighting market. The Vietnamese representative trade show of the LED/OLED and efficient lighting industry, LEDTEC ASIA focuses on each integral part of LED production-from manufacturing to final product, covering with significant potential of growth.