LED lighting markets in the U.S., Europe and Japan have gradually matured, and China is also entering a period of intense competitions over pricing and scale. With the formation of the ASEAN Economic Community, LED lighting suppliers’ attention on the emerging markets in Southeast Asia has grown over the years.
The lighting markets of the 6 major Southeast Asian countries, namely Thailand, Malaysia, Vietnam, Singapore, Philippines and Indonesia, had a combined value of $4.5 billion in 2014, according to a recent estimation of LEDinside. Out of that amount, nearly $1.1 billion came from the LED lighting market. The growing infrastructure needs within the countries of Southeast Asia are also expected to bring great demands for LED lighting.
Southeast Asia’s LED lighting market had the fastest pace of growth in 2013. Though growth lagged during the 2014-2015 period, the rate was kept at 30% and above. Besides, the market penetration rate of LED lighting in Southeast Asia has risen with each passing year and at an accelerating speed. Overall, the market penetration rate of LED lighting in the region is projected to grow from 12%~32% within 2012-2015.