Report Update Apr 1, 2024

Vietnam - Solar Cells and Light-Emitting Diodes - Market Analysis, Forecast, Size, Trends and Insights

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Vietnam: Market for Solar Cells and Light-Emitting Diodes 2024

Market Size for Solar Cells and Light-Emitting Diodes in Vietnam

After three years of growth, the Vietnamese market for solar cells and light-emitting diodes decreased by X% to $X in 2022. In general, consumption, however, showed resilient growth. Over the period under review, the market attained the maximum level at $X in 2021, and then contracted modestly in the following year.

Exports of Solar Cells and Light-Emitting Diodes

Exports from Vietnam

In 2022, after two years of growth, there was significant decline in overseas shipments of solar cells and light-emitting diodes, when their volume decreased by X% to X units. Overall, exports, however, continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2015 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at X units in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, solar cells and light-emitting diodes exports declined sharply to $X in 2022. Over the period under review, exports showed a abrupt contraction. The pace of growth was the most pronounced in 2015 when exports increased by X% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

China (X units) was the main destination for solar cells and light-emitting diodes exports from Vietnam, with a X% share of total exports. Moreover, solar cells and light-emitting diodes exports to China exceeded the volume sent to the second major destination, Germany (X units), twofold. The third position in this ranking was taken by France (X units), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and France (X% per year).

In value terms, the United States ($X) remains the key foreign market for solar cells and light-emitting diodes exports from Vietnam, comprising X% of total exports. The second position in the ranking was held by China ($X), with an X% share of total exports. It was followed by the Netherlands, with a X% share.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (X% per year) and the Netherlands (X% per year).

Export Prices by Country

The average export price for solar cells and light-emitting diodes stood at $X per unit in 2022, reducing by X% against the previous year. In general, the export price showed a dramatic decline. The pace of growth appeared the most rapid in 2018 an increase of X% against the previous year. The export price peaked at $X per unit in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per unit), while the average price for exports to France (less than $X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Africa (X.7%), while the prices for the other major destinations experienced a decline.

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Imports of Solar Cells and Light-Emitting Diodes

Imports into Vietnam

In 2022, overseas purchases of solar cells and light-emitting diodes decreased by X% to X units for the first time since 2016, thus ending a five-year rising trend. In general, imports, however, recorded a significant expansion. The pace of growth was the most pronounced in 2018 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X units in 2021, and then dropped modestly in the following year.

In value terms, solar cells and light-emitting diodes imports amounted to $X in 2022. Over the period under review, imports, however, enjoyed a significant expansion. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2020; afterwards, it flattened through to 2022.

Imports by Country

China (X units) and South Africa (X units) were the main suppliers of solar cells and light-emitting diodes imports to Vietnam.

From 2012 to 2022, the biggest increases were recorded for South Africa (with a CAGR of X%).

In value terms, China ($X) constituted the largest supplier of solar cells and light-emitting diodes to Vietnam, comprising X% of total imports. The second position in the ranking was held by South Africa ($X), with less than X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at X%.

Import Prices by Country

In 2022, the average import price for solar cells and light-emitting diodes amounted to $X per unit, surging by X% against the previous year. Overall, the import price, however, showed a precipitous curtailment. The growth pace was the most rapid in 2015 when the average import price increased by X%. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per unit), while the price for South Africa stood at less than $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for solar cells and light-emitting diodes in the world?

Thailand remains the largest solar cells and light-emitting diodes consuming country worldwide, accounting for 41% of total volume. Moreover, solar cells and light-emitting diodes consumption in Thailand exceeded the figures recorded by the second-largest consumer, China, fivefold. The United States ranked third in terms of total consumption with a 5.8% share.

What are the largest producers of solar cells and light-emitting diodes in the world?

The countries with the highest volumes of production in 2022 were China, Thailand and Malaysia, together comprising 80% of global production.

What are the leading suppliers of solar cells and light-emitting diodes to Vietnam?

In value terms, China constituted the largest supplier of solar cells and light-emitting diodes to Vietnam, comprising 47% of total imports. The second position in the ranking was taken by South Africa, with less than 0.1% share of total imports.

What are the leading importers of solar cells and light-emitting diodes from Vietnam?

In value terms, the United States remains the key foreign market for solar cells and light-emitting diodes exports from Vietnam, comprising 72% of total exports. The second position in the ranking was held by China, with an 11% share of total exports. It was followed by the Netherlands, with a 1.4% share.

What is the average export price for solar cells and light-emitting diodes in Vietnam?

In 2022, the average export price for solar cells and light-emitting diodes amounted to $0.7 per unit, declining by -98.3% against the previous year.

What is the average import price for solar cells and light-emitting diodes in Vietnam?

In 2022, the average import price for solar cells and light-emitting diodes amounted to $7.8 per unit, with an increase of 5.4% against the previous year.

This report provides an in-depth analysis of the market for solar cells and light-emitting diodes in Vietnam. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 26112220 - Semiconductor light emitting diodes (LEDs)
Prodcom 26112240 - Photosensitive semiconductor devices, solar cells, photodiodes, p hoto-transistors, etc.

Country coverage:

Vietnam

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Vietnam
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
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Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023