Thailand is emerging as a lucrative export market for LED manufacturers, according to a latest report from Guangdong Science and Technology News.

“We welcome large manufacturers, whose products have been approved by Thailand’s standard system to enter the Thai market,” said Somjit Punsuwan, governor of Bang Pakong, Chachoengsao Province, Thailand, The governor toured China from Sept. 18-19 to gain a better understanding of China’s LED industry developments in Guangzhou, Shenzhen, Zhongshan, and Huizhou. The governor also approved Guangdong province’s Energy Management Company (EMC) model.

Since there are only a handful of LED manufacturers in Thailand, the country has to import 80 percent of its LED lighting products. According to statistics, the Thailand lighting market value totaled US $800 million in 2014, up 12 percent compared to 2013. The country’s LED industry is estimated to grow at an annual rate of 30 percent in the next five years, with indoor lighting and construction applications consisting two major components of the LED lighting industry.

In recent years, the Thai government has largely supported energy efficient products. Thailand has great market potential, due to its growing purchase power, which presents business opportunities for China’s LED industry. Punsuwan was commissioned by the Thai government to visit China and introduce Guangdong’s advanced LED products to the country. Pilot LED production sites will be established in Chachoengsao Province first, and later expanded to Thailand on a larger scale.