The Thailand LED market has emerged as a market holding great potential, government statistics estimate the current LED market value has reached nearly US$2.44 billion. However, Thailand unstable political situation might lead to lower LED industry growth rates in 2015.
The LED industry has really picked up in 2013. LED lighting penetration rates in the Thailand lighting market has reached an estimated 10%~15%. Compared to before 2014, when LED market share was only 5% in the Thailand lighting industry, LED market share is expected to reach 70% by 2020.
Government subsidies continue to play a key role in the Thai LED market. The increasing LED lighting penetration rates are attributed to Electricity Generating Authority of Thailand subsidies that have lowered LED prices to US$4~5.
The Thailand government projected LED market CAGR to reach 30% by 2019, to bring the total market value from US$900 million to US$1 billion. LED manufacturers reported growth rates were consistent with Thailand government estimations. The average growth rate reported by the 9 manufacturers willing to reveal revenue statistics was about 34.67%. Some high performers even reported growth rates soared at least 50%.
Wellmax LED 