Vietnam LED Lighting Market Outlook

According to a recent report by Expert Market Research (EMR), the Vietnam LED lighting market size was valued at approximately USD 723.74 million in 2024. The market is projected to grow at a compound annual growth rate (CAGR) of 6.80% between 2025 and 2034, reaching a value of around USD 1,397.32 million by 2034. This growth is driven by increasing energy efficiency awareness, government initiatives promoting sustainable lighting, and the rising adoption of smart lighting solutions across residential, commercial, and industrial sectors.

LED (Light Emitting Diode) lighting has emerged as a sustainable and energy-efficient alternative to traditional incandescent, fluorescent, and halogen lighting solutions. Its superior energy efficiency, longer lifespan, low maintenance requirements, and environmental benefits have made it a preferred choice in both public and private sectors. Vietnam’s expanding urban infrastructure, rapid industrialisation, and increasing construction activities have further contributed to the adoption of LED lighting solutions.

Vietnam LED Lighting Market  Size

The Vietnam LED lighting market is segmented based on product type, application, and distribution channel. By product type, the market is divided into LED bulbs, LED tubes, LED panels, street lights, and others. Among these, LED bulbs and panels dominate the market due to their widespread adoption in residential and commercial sectors. Street lighting is another rapidly growing segment, primarily driven by government initiatives for energy-efficient public lighting and urban development projects.

By application, the market is classified into residential, commercial, industrial, and outdoor/public lighting. The commercial and industrial sectors are witnessing significant LED adoption, driven by energy cost reduction strategies, government incentives, and increasing awareness of sustainable practices. Residential LED adoption is also on the rise, aided by growing consumer awareness of energy efficiency, aesthetic preferences, and the availability of affordable LED solutions.

Distribution channels include modern trade, online retail, and traditional retail. Online retail has gained prominence due to convenience, extensive product variety, competitive pricing, and the growth of e-commerce in Vietnam. Traditional retail channels such as electrical stores and local distributors continue to play a significant role in rural and semi-urban regions.

Get a Free Sample Report with Table of Contents@ https://www.expertmarketresearch.com/reports/vietnam-led-market/requestsample

Vietnam LED Lighting Market Share

The Vietnam LED lighting market is moderately competitive, with both domestic manufacturers and international brands actively operating in the region. Key players include Philips Lighting, Signify, Panasonic, Seoul Semiconductor, and local manufacturers such as Rạng Đông and Điện Quang. International brands hold significant market share in the premium and technologically advanced segment, whereas local manufacturers dominate the low- to mid-range segment, offering cost-effective solutions tailored to domestic consumers.

Government procurement programs, strategic partnerships, and collaborations with construction and infrastructure companies also influence market share dynamics. The increasing emphasis on energy-efficient public lighting projects has created opportunities for established brands to expand their market presence.

Vietnam LED Lighting Market Trends

Several notable trends are shaping the Vietnam LED lighting market. The first is the rapid adoption of smart lighting solutions integrated with IoT technology. Smart LED systems offer features such as remote control, dimming, color tuning, energy monitoring, and automation, making them increasingly popular in residential, commercial, and public lighting applications.

Another trend is the growing demand for eco-friendly and sustainable lighting solutions. With the Vietnamese government’s focus on reducing energy consumption and carbon emissions, consumers and businesses are increasingly opting for LED lighting due to its low environmental impact and long operational life.

The rise of aesthetic and design-focused LED lighting is also prominent in urban residential and commercial spaces. LED strips, panels, and decorative lighting solutions are increasingly being used to enhance interior and exterior aesthetics while offering energy efficiency.

Drivers of Growth

The primary drivers of growth for the Vietnam LED lighting market include increasing energy costs, government initiatives, and the expanding construction and infrastructure sector. The Vietnamese government has implemented various policies and incentive programs promoting energy-efficient lighting in public buildings, streets, and residential complexes, significantly boosting LED adoption.

Urbanisation and industrialisation are driving demand in commercial and industrial sectors. The rise in modern office spaces, retail outlets, hospitality establishments, and industrial facilities requires efficient, long-lasting, and cost-effective lighting solutions, positioning LED lighting as a preferred choice.

Technological advancements and product innovations further propel market growth. Features such as smart controls, color tunability, and motion sensors enhance the functionality and appeal of LED lighting products. Additionally, the decreasing cost of LED components and increased local production are making LED lighting more affordable and accessible to a broader consumer base.

Technology and Advancements

Technological innovation is a key factor shaping the Vietnam LED lighting market. LED technology continues to evolve, offering higher luminous efficacy, longer lifespan, improved color rendering, and reduced energy consumption. The integration of smart lighting systems with IoT platforms allows real-time control, energy management, and automation in residential and commercial environments.

Advancements in micro-LED and OLED technology are also opening new possibilities for ultra-thin, flexible, and aesthetically appealing lighting solutions. Moreover, continuous research and development in thermal management, driver efficiency, and luminaire design are enhancing the overall performance and reliability of LED products.