The Thailand LED market size reached US$ 760.7 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 4,023.2 Million by 2032, exhibiting a growth rate (CAGR) of 20.33% during 2024-2032.
Report Attribute
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Key Statistics
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Base Year
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2023
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Forecast Years
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2024-2032
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Historical Years
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2018-2023
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Market Size in 2023
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US$ 760.7 Million |
Market Forecast in 2032
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US$ 4,023.2 Million |
Market Growth Rate 2024-2032 | 20.33% |
The market for LED lighting products is currently exhibiting robust growth in Thailand. The market is currently being driven by a number of factors. This includes their higher shelf life, lower energy consumption and reduced maintenance requirements. LED lights use significantly lower electricity compared to conventional lighting, leading to a significant energy cost savings, particularly for areas with lights that are on for extended periods. Moreover, unlike conventional lighting, LEDs have a significantly longer lifespan. Driven by a higher operational life, LEDs can reduce the labor costs involved in replacing bulbs in commercial situations, resulting in a lower maintenance lighting system. Additionally, the strong support from the Thai government is also playing a major role in driving the Thai LED market. Thai government incentives have played a key role in promoting LED adoption in the consumer sector, with numerous subsidies aimed at making LED bulbs more affordable to the general consumer. The country’s Electricity Generating Authority of Thailand (EGAT) and Provincial Electricity Authority (PEA) represent some of the key government agencies that are promoting LED lighting in the country. Some of the other key factors driving the demand of LED lights in Thailand include reducing prices of LED lights, launch of numerous infrastructure projects, and a shift by both the public and private sector towards energy efficiency.
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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This report provides a deep insight into the Thailand LED market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for LED manufacturers, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the Thailand LED market in any manner.
IMARC Group provides an analysis of the key trends in each sub-segment of the Thailand LED market report, along with forecasts at the country and regional level from 2024-2032. Our report has categorized the market based on product type, application and installation type.
Breakup by Region:
Breakup by Product Type:
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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Breakup by Application:
Breakup by Installation Type:
Value Chain Analysis
Key Drivers and Challenges
Porters Five Forces Analysis
PESTEL Analysis
Government Regulations
Competitive Landscape
Report Features | Details |
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Base Year of the Analysis | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Units | US$ Million |
Segment Coverage | Product Type, Application, Installation Type, Region |
Region Covered | Northern Thailand, Northeastern Thailand, Western Thailand, Central Thailand, Eastern Thailand, Southern Thailand |
Customization Scope | 10% Free Customization |
Report Price and Purchase Option | Single User License: US$ 3699 Five User License: US$ 4699 Corporate License: US$ 5699 |
Post-Sale Analyst Support | 10-12 Weeks |
Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The Thailand LED market was valued at US$ 760.7 Million in 2023.
We expect the Thailand LED market to exhibit a CAGR of 20.33% during 2024-2032.
The rising demand for LEDs, as they emit little to no heat and offer instantaneous illumination, is primarily driving the Thailand LED market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across the nation, resulting in the temporary closure of various manufacturing units for LEDs.
Based on the product type, the Thailand LED market can be categorized into panel lights, down lights, street lights, tube lights, bulbs, and others. Currently, panel lights account for the majority of the total market share.
Based on the application, the Thailand LED market has been segregated into commercial, residential, institutional, and industrial. Among these, residential currently exhibits a clear dominance in the market.
Based on the installation type, the Thailand LED market can be bifurcated into new installation and retrofit installation. Currently, retrofit installation holds the largest market share.
On a regional level, the market has been classified into Northern Thailand, Northeastern Thailand, Western Thailand, Central Thailand, Eastern Thailand, and Southern Thailand, where Central Thailand currently dominates the Thailand LED market.