With its recently published study “Thailand Light Emitting Diodes (LEDs) Market Drivers, Opportunities, Trends, & Forecast 2022”, Infoholic predicts that, Thailand’s LEDs market will continue to witness high growth with high government subsidies, direct government investment, increasing corporate investments, and rapid urbanization. Fast developing Thailand economy has faced many structural problems including shortage of electricity.
The technologically advanced LEDs, which work on only a fraction of power as compared to traditional light sources such as halogen lights and incandescent lamps, are being promoted as a suitable option for reducing the consumer power consumption. The government initiatives to replace the street lights with LED lighting products has resulted in high growth in LED market in Thailand. This growth has also attracted many national and international companies to Thailand’s LED lighting market. On the consumer front, the economic growth has not only increased the affordability of LED products via increasing disposable income but has also via decreasing LEDs prices. Owing to all these factors, LEDs market in Thailand is expected to grow at a CAGR of 28.3% during the forecast period 2016–2022.
In terms of segment, the lighting segment is expected to contribute the most towards LED market growth during the forecast period mostly due to direct government investments and high subsidy support provided by government agencies.
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“Thailand has been one of the fast developing economies in the Asian region and has undergone rapid industrialization over the past decade. This industrialization has not only increased the power requirements in the industrial segment, but also in residential and commercial segments as well. However, the power supply has not been able to keep up with high pace of demand growth and resulted in power shortage. Government agencies are now focusing on decreasing the power consumption via utilization of new technologies such as LEDs based products rather than installation of new power plants.” – KR Sreenivasan, CEO of Infoholic Research.
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“Thailand has been part of the manufacturing shift where the manufacturing companies moved to Thailand in order to reap benefits of low manufacturing cost including automotive and lighting industries. However, while looking at LED industry, Thailand has been almost completely dependent on LEDs (chips) imports and the automotive lighting manufacturers have been assembling these small components in order to cater to industry giants. But this trend is expected to change in future with the development of domestic LEDs (chips) manufacturing plants providing local players an extra edge and more reliability against international competitors.” – Somnath Das, Senior Consultant of Infoholic Research.
Key insights of the report
- Thailand’s LEDs market is analyzed application wise
- Indoor and Outdoor
- Bulbs, Street Lights, and Spot Lights
- Displays and Backlights
- Mobile Devices
- Signs & Boards
- Others (largely automotive)
- Industry outlook: market trends and drivers, restraints, and opportunities
Ms. Sunanda Ganguli
Infoholic Research LLP