Analysis of the scale and trend of LED lighting market in Southeast Asia in 2016

Most countries in Southeast Asia except Singapore have a relatively backward economy. However, abundant human resources and natural resources make Southeast Asia one of the most dynamic and potential areas for the development of the world economy today. In the new world politics and economic structure in the future, the role and strategic position of Southeast Asia will be even more important. In addition, Southeast Asia is China's southern neighbor. With the bilateral and multilateral friendship between China and Southeast Asian countries, the cooperative relationship will also enter a period of continuous development and closer history.

The overall electricity price in Southeast Asia is relatively high, and the high electricity bills have made the demand for lamp replacement in Southeast Asian countries particularly obvious. With the rapid improvement of the economic standards of other countries in Southeast Asia, the per capita lighting demand will also increase accordingly. The resulting awareness of energy conservation and the growth of demand will surely enable the LED lighting industry to rapidly spread and grow in Southeast Asia. In addition, Southeast Asia's infrastructure investment is large and its policies are very attractive, so it is becoming an emerging market that is favored by domestic manufacturers.

The scale of LED lighting has increased rapidly, with a penetration rate of 37% in 2016.

According to LEDinside statistics, in the six major countries (Thailand, Singapore, Malaysia, Vietnam, Indonesia, the Philippines), the overall lighting market in Southeast Asia in 2015 was about 4.8 billion US dollars, of which LED lighting scale was about 1.5 billion US dollars. By 2016, the scale of LED lighting is expected to grow to 1.9 billion US dollars. In 2014-2016, the market share of LED lighting in Southeast Asia increased significantly, and the penetration rate is expected to grow from 25% to 37%.

In addition to Singapore, the overall lighting scale of Southeast Asian countries has been rising in recent years, while traditional lighting is generally declining, and LED lighting is the main growth momentum. Among them, Indonesia's overall lighting scale and LED lighting scale is the highest. It is expected that the LED lighting market in Indonesia will be close to 460 million US dollars in 2016.

Vietnam's LED lighting market share is the fastest growing among major Southeast Asian countries, with a year-on-year growth rate of over 60% in 2013-2015. Considering the growth momentum brought by government subsidies and rising market demand, the growth rate of LED lighting penetration is expected to increase further. By 2016, the penetration rate is expected to reach 41%.

Looking forward to the future trend, Southeast Asia will become the main export market for Chinese manufacturers.

LEDinside said that by observing the scale of LED lighting products imported from China by Southeast Asian countries, the total import volume of the six major countries reached about 1.54 billion US dollars in 2015. The import scale of all countries increased rapidly in 2013 and 2014. In 2015, due to exchange rate factors and economic environment, the growth rate of import scale slowed down.

Among the major countries, due to the large population and rapid growth of demand in Vietnam, the scale of LED lighting products imported from China in the past two years has grown very rapidly. The growth rate in 2013-2015 is the highest in several countries. The scale of imports from China in 2015 is expected to exceed US$300 million.

In terms of market size and import scale, LED lighting has grown strongly in recent years, and the replacement of traditional lighting has gradually strengthened. For Southeast Asia, which is mainly imported and has weak local productivity, the increase in demand for LED lighting has brought about a significant increase in import demand, coupled with China’s product prices, manufacturing power and geographical advantages, resulting in imports from China. The scale has achieved a rapid increase.

Although the market and import scale growth rate has slowed down due to the overall economic environment in 2015, it is expected that in the next few years, with the policy incentives and replacement demand growth, the penetration rate and import scale of LED lighting in Southeast Asia will continue to increase rapidly. It has gradually become the main destination for Chinese manufacturers to export LED lighting products.

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