Kenneth Research examined the statistical and analytical approach that is required for the growth of Thailand Light Emitting Diodes (LEDs) Market between the years 2022 and 2031. The key industrial insights provided in the report gives a better idea about the market overview to the readers regarding the existing scenario in the market. In addition, the report includes detailed discussion on current and future market trends that are associated with the growth of the market.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Thailand Light Emitting Diodes (LEDs) Market products.
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Factors such as the growing trade of semiconductors for use in different consumer electronic products, along with the growing trend of automation and IoT, which is raising the need for the deployment of advanced electronic chipsets, therefore the advancement in the trade of semiconductors. According to the statistics by World Semiconductor Trade Statistics (WSTS), semiconductor billings around the globe per 12 months rolling average increased from around USD 250 billion in the year 2010 to around USD 460 billion in the year 2019.
Thailand market has been one of the fast growing markets in South Asian region. However, the power industry could not keep up with high growth of power requirement resulted by economic development causing power shortage. Light Emitting Diodes (LEDs) based lighting is currently promoted as a solution to reduce the power shortage as LED based lighting needs 30–90% less electricity when compared to other lighting sources. The economic growth in future is expected to further increase the urbanization in the country which will increase the pressure on infrastructure demanding higher power requirements in both commercial and residential categories. This future growth is expected to further boost the LED demand in Thailand during the forecast period.
The study of Thailand LEDs market provides the market size information and market trends along with the factors and parameters impacting it in both short and long term. The study also covers the competitive scenario of the market with respect to the raw material availability, major players with their branding strategies and differentiating factors among others. The study ensures a 360° view, bringing out the complete key insights of the industry. These insights help the business decision makers to make better business plans and informed decisions for the future business. In addition, the study helps the venture capitalist in understanding the companies better and take informed decisions.
Thailand LEDs market is expected to grow at a CAGR of 28.3% during the forecast period to reach $1.97 billion by 2022. The lighting segment is expected to contribute the largest growth towards the LED market which is expected to be driven by government subsidies, government investments, decreasing LED prices, and entry of multinational players in Thailand market.
Strong trade relation between Thailand and China is expected to be helpful in LEDs procurement for the LED products manufacturing facilities in the country. Multinational players have been investing in the Thailand LED products manufacturing market. Some of the prominent players in Thailand LED market are TP Halo LED Lighting Co. Ltd., Electronic Lighting Co. Ltd., Thai Stanley Electric Public Co. Ltd., and Lighting & Equipment.
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