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
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 (http://www.ledexpothailand.com/
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 $1 trillion.
Over the last four years, LED Expo Thailand has proved its mettle as why it is a vital initiative towards energy conservation and a green environment by the host organization-
There's no denial to the fact that as Thailand continues to implement its new energy framework that's stable, sustainable and affordable; opportunities for LED lighting products & components' manufacturers as well as suppliers would be getting unfolded in abundance. According to statistics, the Thailand lighting market valued at US$ 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!
Ms. Himani Gulati