The rise of the LED tube market in Southeast Asia
In the past two years, Vietnam has seen the most eye-catching growth in the market for imported Chinese LED lighting products, and has become the largest exporter of Chinese LED lighting products in the ASEAN market. According to statistics, in 2015, China's cumulative export value of LED tube lighting products to Vietnam has reached more than 900 million US dollars, and the world export ranking has jumped from 35th to third.
On the whole, the export of Chinese LED tube lighting products to the Vietnamese market is in its infancy. After March 2015, the export scale has increased several times, and the export scale is very eye-catching, all of which are above 160 million US dollars. The rapid expansion of the market size of China's LED tube products exported to Vietnam is not accidental. In addition to the stimulating factors such as Vietnam's own development needs, the close economic exchanges and international cooperation between China and Vietnam have helped Chinese companies open up the Vietnamese LED tube lighting market. With the in-depth implementation of the China-ASEAN Destiny Community "2+7 Cooperation Framework" and the "One Belt One Road" strategy, the Asian Infrastructure Investment Bank and the Silk Road Fund have been established one after another. Chinese LED companies will set off a new dimension in Vietnam, where labor and land costs are low. The round of investment boom is more conducive to the export of Chinese LED lighting products to the Vietnamese market. In Thailand, more than 80% of LEDs need to be imported. In recent years, the sales volume of Chinese LED tube lighting exported to Southeast Asia has also been soaring. For the Thai market, 80% of Thai LED tube lighting products need to be imported. In 2014, the total value of Thailand's lighting market reached US$800 million, an increase of 12% compared to 2013. It is expected that the annual growth rate in the next 5 years will reach 30%, and indoor lighting and industrial construction applications will become two important components of the LED tube lighting market in Thailand.
Thailand strongly supports the selection of LED energy-saving products, and the market potential and growing purchasing power will bring huge business opportunities to Chinese LED tube companies. In addition, China's LED tube lighting industry's exports to Malaysia and Singapore are also showing sustained and rapid growth. Analyzing from the current currency situation alone, the export of my country’s LED tube lighting products to the US market is still optimistic, and the Southeast Asian market is also a year of rapid growth due to political factors.
