LED Lighting is all set to surge; LED Expo Thailand 2017 promises lucrative business opportunities
LED Expo Thailand has created a chasm in the ever expanding lighting arena in the Southeast Asian region to which the lighting manufacturers and suppliers are keen to exploit.
- (1888PressRelease) February 05, 2017 - Going with the latest pronounced estimate, the US $29.6 billion global LED lighting market is expected to touch US $ 33.1 billion by the end of 2017. The credit for the surge goes to the regional lighting development as LED lighting accounts for 23% of total lightings in Europe, which is the highest across the world. The second and third highest absorbing regions are to be found in North America and China. However, Asia- Pacific region is expected to witness the fastest growth rate in LED lighting. Indian government has already adopted mass replacement of the conventional lighting sources with the LEDs for its plan to changeover 700 million LED light bulbs and 35 million streetlights across the country by 2018.
LED lighting in Southeast Asia has strongly developed in recent years, and has gradually strengthened to replace traditional lighting. Although under the influences of the overall economic environment in 2015, growth slowed down, but it is expected that along with policy incentives and increase of replacement demand, LED lighting penetration rate and import scale of Southeast Asia will continue to increase in the next few years, turning it as a major hub for manufacturers across the globe exporting LED lighting products.
To witness all this and many more, LED Expo Thailand 2017 is the best place to be a part thereof. Focusing on LED lighting products & technology, the Show is dedicated to science, technology and applications of the solid state lighting i.e. LEDs. It aims to accelerate the growth of the LED lighting markets in the Southeast Asian region by providing a dynamic hub for LED/lighting companies to congregate, promote, discuss, transact, partner and gain insights on neighboring LED markets at a niche level.
Thailand is ranked as the 50th largest country in the world is a part of Association of Southeast Asian Nations (ASEAN) and ASEAN's Economic Community along with nine other countries namely, Indonesia, Malaysia, Philippines, Singapore, Brunei, Cambodia, Laos, Myanmar, and Vietnam. The aim of AEC for 2015 is to create a single ASEAN market with gross domestic product (GDP) of $2.5 trillion and trade of $1 trillion.
Over the last four years, LED Expo Thailand has proved its mettle as why it is a vital initiative towards energy conservation and a green environment by the host organization- Electricity Generating Authority of Thailand (EGAT) and the show organizers- IMPACT Exhibition Management Co., Ltd. and MEX Exhibitions Pvt. Ltd. This year in addition to EGAT, The Ministry of Energy is also a host organisation to the show additionally being supported by the Federation of Thai Industries. Acting as a prelude to the show every year, a series of roadshows are held all over Southeast Asia in an attempt to engage regional LED lighting sectors and promote energy efficiency & investment opportunities in those respective countries.
There's no denial to the fact that as Thailand continues to implement its new energy framework that's stable, sustainable and affordable; opportunities for LED lighting products & components' manufacturers as well as suppliers would be getting unfolded in abundance. According to statistics, the Thailand lighting market valued at US$ 800 million, in 2014, up 12% compared to 2013. The country's LED industry is estimated to grow over 30% in the next five years with indoor and construction applications consisting two major components of the country's LED lighting industry.
The country has witnessed immense growth in the use of LED products especially in sectors like automotive wherein the number of car with LED headlights is expected to grow exponentially from 1 million to 5 million with the value of LED components growing from US$ 130 to US$ 300 million. Pushing the boundaries are the government projects under EGAT wherein a pilot program has been flagged off to use LED Streetlight as well as replacements on EGAT's properties and dam areas. What's more, the planned public & private infrastructure projects right from the construction of new Parliament house to stadium to residential, commercial, hospitality and entertainment projects are showing great potentials.
Adding further momentum to this drive is CP ALL's '7 Go Green' project wherein over 500 million THB has been invested to replace the existing light sources with the LED light bulbs in 7-Eleven stores throughout Thailand. The Provincial Electricity Authority (PEA) is preparing to replace one million street lights nationwide with LED bulbs. For all these and many other similar opportunities, what better a place can be than the forthcoming LED Expo Thailand!
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