In 2023, the import of electric lamps and lighting fittings to Viet Nam stood at 207.89 million USD. The forecasted values for 2024 to 2028 indicate a steady upward trend with an average annual growth rate (CAGR) of approximately 4.5%. Specifically, the year-on-year increase from 2024 to 2025 is 4.9%, from 2025 to 2026 is 4.6%, from 2026 to 2027 is 4.3%, and finally from 2027 to 2028 is 4.0%.
The positive trend over the forecast period suggests a consistent demand growth in the market for electric lamps and lighting fittings in Viet Nam. Key factors contributing to this upward trend include increasing urbanization, government initiatives on energy-efficient lighting, and rising consumer awareness.
Future trends to watch for:
• Adoption of smart lighting solutions.
• Advances in LED technology leading to market shifts.
• Impact of regulatory changes on import tariffs and industry standards.
• Economic factors influencing consumer purchasing power and demand.
