Top 8 Companies Leading the Vietnam LED Lighting Market

The Vietnam LED lighting market is being aided by the 35% per annum growth of the Vietnam LED lamp market. The Vietnam LED lighting market attained a value of USD 677.66 million in 2023. The Vietnam LED lighting industry is expected to grow at a CAGR of 6.8% in the forecast period of 2024-2032, attaining a value of USD 1225.04 million by 2032. As per the analysis by Expert Market Research, the market is expected to be driven by the growth of commercial offices and strong foreign investment.

LED lights are considered a better alternative to other types of lights such as halogen, compact, and incandescent lights, due to their durability, flexibility, smaller size, longer lifespan, and environmental friendliness. LED lights do not emit heat, significantly increasing their adoption. Vietnam has the presence of more than 200 companies registered with LED lighting product brands.

The presence of favourable government initiatives in Vietnam is contributing to the Vietnam LED lighting market growth. Vietnam has two major projects, the Vietnam Energy Efficient Public Lighting Project (VEEPL) and the Vietnam National Energy Efficiency Plan (VNEEP). The initiatives are aimed to reduce energy consumption and carbon emissions and to have 100% LED street lights by 2025.

According to the Ministry of Planning and Investment, by 2030, the urbanisation rate in Vietnam is anticipated to exceed 50%, driving the need for streetlights and lighting for commercial, industrial, and residential buildings. As recorded in 2022, Vietnam has more than 400 industrial parks and is expected to increase by 1.5 times by 2030.

Furthermore, the expansion of the tourism sector in Vietnam is contributing to an increased demand for lighting in hotels and restaurants, accelerating Vietnam LED lighting market development. In 2023, Vietnam witnessed a total number of international visitors of 12.6 million arrivals, 3.5 times higher than 2022. In December 2023 alone, Vietnam saw 1.37 million international visitor arrivals.

Table: Vietnam GDP and Manufacturing Value Added (2017-2023)

As per the Vietnam LED lighting market analysis, the increasing environmental concerns are contributing to the market growth. LED lights operate in low energy input while providing high brightness, increasing their adoption in indoor and outdoor environments.

Domestic companies in Vietnam such as Dien Quang Lamp JSC or Rang Dong are launching domestic products, significantly contributing to market growth.

In July 2023, Viet Han launched a new generation of LED strip lights which are super bright 3K LED - VH26. It has a product life upto 30,000 hours.

Top 8 LED Lighting Companies in Vietnam:

Rang Dong Light Source and Vacuum Flask JSC (Ralaco)

Rang Dong Light Source and Vacuum Flask JSC (Ralaco) is engaged in the manufacture of general lighting products, HCL (Human Centric Lighting), product ecosystems 4.0 of Smart Home, Smart City, Smart Farm. The company is also engaged in producing and trading High-tech agriculture lighting, fishery lighting and renewable energy lighting products, vacuum flasks and household appliances. The company provides indoor luminaires, and outdoor luminaires through which LED lightings are provided.

Dien Quang Light Source Company

Dien Quang specialises in producing, trading products, services, and solutions in the field of lighting and electric equipment. The company provides its solutions to fields such as real estate, hospitals, schools, industrial parks, restaurant chains, hotel chains, and resorts. Dien Quang’s lighting domain provides decorative lighting, commercial lighting, landscape lighting, building highlighting. The company distributes its products across all provinces in Vietnam and more than 30 countries and territories across the globe including EU, Asia, Europe, America etc.

Asled Co., Ltd

ASLED Lighting Company is engaged in providing creative, energy-efficient lighting solutions for all types of projects. The company designs and build automation lighting control systems for smart home, resorts, office, complex villas, warehouses, landscapes, facade lighting, etc. Some of the LED lightings provided by the company are LED Downlight, LED Wall Light, LED Step Light, LED Spotlight, LED Floodlight, LED Inground, LED Under Water Light, LED Bollard Light, LED Linear Light etc.

Signify NV (Philips Lighting)

Signify is a leading company offering lighting solutions for professionals, consumers, and lighting for the Internet of Things. In 2023, the company recorded total sales of EUR 6.7 billion. The company has a workforce of about 32,000 employees and has a presence in more than 70 countries across the globe. Some of the brands of the company are Philips, Interact, Colorkinetics, Philips Dynalite, Cooper Lighting Solutions, Genlyte Solutions, and Telensa.

Osram Licht AG

Osram Licht AG is a leading lighting, visualization and sensor technologies company. The company conducts its business through three units, Opto Semiconductors (OS), CMOS Sensors and ASICs (CSA) and Lamps and Systems. The Opto Semiconductors unit is dedicated to offering emitter technologies (i.e. LEDs and laser diodes), whereas the CMOS Sensors and ASICs (CSA) unit is specializing in sensor and analogue mixed-signal ICs.

Nichia Corporation

Nichia Corporation is a semiconductor manufacturing company based in Japan. The company conducts its business in two major groups, chemicals and optoelectronics. Through the optoelectronics segment, the company provides LED (Light-Emitting Diodes), LD (Laser Diodes), and optical semiconductor devices. The chemical segment of the company offers cathode materials, magnetic materials, phosphors organometallic compounds, fine chemicals (electronics materials, pharmaceutical materials, food additives), and vacuum evaporation materials.

Cree Inc

Cree LED is a globally renowned company offering high-power and application-optimized lighting solutions. Cree LED, an SGH company provides portfolios of application-optimized LED chips and components. The company provides speciality lights for applications such as architectural/entertainment, broadcast, horticulture, portable lighting, retail lighting, automotive and emergency vehicle lighting. The company also provide general lighting solutions for indoor and outdoor purposes.

Seoul Semiconductor Co Ltd

Seoul Semiconductor provides lighting systems with the most eco-friendly and energy-efficient technologies. The company’s product portfolio includes automotive, display, and lighting. Seoul Semiconductor through its lighting segment offers solutions for indoor, outdoor, horticulture and other applications. The company boasts the holding of more than 18,000 patents under its name, and mass produces LED lighting products such as SunLike.