Vietnam’s LED lighting market reaches $1.056 billion by 2026

, Vietnam’s LED lighting market reaches $1.056 billion by 2026

It was reported that The Vietnam LED lighting market achieved a value of US$ 604 Million last year. Vietnam LED lighting market can reach a value of USD 1,056 billion by 2026.

 

The Vietnamese government supports the use of LED lighting due to its aim to reduce energy consumption and carbon footprints with two major projects – Vietnam Energy Efficient Public Lighting Project (VEEPL) and Vietnam National Energy Efficiency Plan (VNEEP)  Vietnam has examined the Led technology via traffic lights and the advertisement industry.

According to a study by Grand View Research Inc, the global smart lighting market is expected to reach US$46.9 billion by 2028 with a compound annual growth rate (CAGR) of 20.4%.

While the global smart lighting market is expected to reach $46.9 billion by 2028, on November 2, during the conference the lighting technology towards sustainable development organized by Signify Vietnam, Mr Phung Hoai Duong, General Director of Signify Vietnam said “the growth of Vietnam’s market LED lighting is increasing due to the trend of smart cities, smart homes, smart street lighting systems and the demand for decorative, energy-saving lighting systems”.

 

(vitag.Init = window.vitag.Init || []).push(function () { viAPItag.display(“vi_682621617”) })

Due to several advantages of the Led technology, Vietnam experienced robust growth in recent years and the Led technology will dominate the country’s lighting industry for years to come.

READ MORE:  World leaders support Viet Nam to deliver on its ambitious Net Zero 2050 goal
News related