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Market Research Report

Vietnam Heating 2018

Published by BRG Building Solutions Product code 342238
Published Content info 81 Pages
Delivery time: 1-2 business days
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Vietnam Heating 2018
Published: August 31, 2018 Content info: 81 Pages

This report provides an in-depth analysis of the Vietnamese heating market including the monitoring of recent trend patterns and demand drivers, plus substantiated volume forecasts for the next 5 years.

Market Overview:

The water heater market in Vietnam continued to grow in 2017. This market benefited from a flourishing real estate market combined with an increasing number of new build projects, especially in the residential sector. Electric storage water heaters remain the largest water heater product segment with a steady growth trend although there has been a gradual shift towards the electric instantaneous water heater among the residential consumers. Both electric instantaneous water heater and thermosyphon tank sales have been growing at a fast pace, driven by increasing product and brand awareness as well as growing knowledge about energy efficiency amongst consumers. Moreover, there has been a growth in consumer confidence and rise in purchasing power among the Vietnamese population as the nation's economy has been doing reasonably well recently.

The solar thermal market witnessed another year of steady growth in 2017. This market has been majorly driven by promotion by the government through subsidy schemes. The growth has been largely supported by the vacuum tube collector segment, the market for which has been growing at a much faster pace than the sales of flat plate collector. The vacuum tube collector has been more popular among the Vietnamese consumer, especially in the premium segment.

The Vietnamese air condition market also continued to witness strong growth in 2017. Demand for mini-splits, mostly single split units, continued to witness strong growth in 2017, although slower than the previous year. This market segment continued to benefit from high construction activities, in particular new apartment completions, combined with strong demand from the existing housing market. Although growth rates for packaged Acs slowed down in 2017, sales volumes remained high, with all manufacturers recording solid growth. Although residential sales still remained relatively low in 2017, an increasing number of Acs were installed in new build projects, such as larger houses and luxury apartments. VRF systems continued to gain importance, with further strong growth seen in Vietnam during 2017. VRF systems are predominantly installed in the commercial sector, including shops, offices and hotels. VRF systems continue to gain popularity due to their energy saving features. Chillers and AHU markets also witnessed growth during the year although slower as there was faster uptake of other AC technologies.

Product Coverage:

This report focuses on the following product categories:

  • Core heating technologies:
    • Water Heaters
  • Renewable heating technologies:
    • Solar thermal
  • Air Conditioners

Key Data Points:

  • Historical volume trends (2002-2017) and forecasts (2018-2022)
  • Analysis of key market drivers and an understanding of the main influences affecting the future market outlook
  • Market values and average prices (2016 and 2017) at manufacturer selling price (MSP) level
  • End use sector segmentation (e.g. new housing, RMI, non housing)
  • Technical segmentation and product category breakdowns
  • Volume market shares per brand/company
  • Distribution analysis including routes to market flow diagrams
Table of Contents

Table of Contents

Background Heating & Cooling

  • A.0. VN - Background
  • A.1. Background: Overview
    • A.2.1. Climate
    • A.2.2. Key Demographic Figures
  • A.3. Macroeconomic Trends and Forecasts
  • A.4. Historical and Current Exchange Rates
  • A.5. New Dwelling Construction
  • A.6. Dwelling Stock by Type and Tenure

The Vietnamese Distribution Sector - Heating

  • B.0. VN - Distribution
  • B.1. Distribution: Structural Overview

The Vietnamese Water Heater Market

  • 1.0. VN - Water Heaters
  • 1.1. Market Sector Overview: Water Heaters
  • 1.2. Historical Trends and Forecasts: Water Heaters
    • 1.3.1. Prices and Market Values: Water Heaters
    • 1.4.1. End Use: Base Year
    • 1.4.2. End Use: Historical and Forecasts
    • 1.4.3. Sales by Type: Water Heaters
    • 1.4.4. Sales by Storage Capacity: Water Heaters
    • 1.4.5. Sales by Storage Capacity: Electric Storage
    • 1.5.1. Market Shares: Electric Instantaneous
    • 1.5.2. Market Shares: Electric Storage
    • 1.5.3. Market Shares: Thermosyphon
    • 1.6.1/2. Distribution Flow: Water Heaters

The Vietnamese Solar Thermal Market

2. VN - Solar Thermal 32

  • 2.1. Market Sector Overview: Solar Thermal
    • 2.2.1. Historical Trends and Forecasts: Solar Collectors
    • 2.2.2. Historical Trends and Forecasts: Solar Cylinders
  • 2.3. Prices and Market Values: Solar Collectors
    • 2.4.1. End Use: Base Year
    • 2.4.2. End Use: Historical and Forecasts
    • 2.4.3. Solar Thermal Collectors: Type of Installation
    • 2.4.4. Solar Thermal Collectors: Type of System
    • 2.4.5. Solar Thermal Collectors: Type of Circulation
    • 2.5.1. Market Shares: Flat Plate
    • 2.5.2. Market Shares: Vacuum
    • 2.6.1/2. Distribution Flow: Solar Thermal Collectors

The Vietnamese Air Conditioner Market

  • 3.0. VN - Air Conditioners
  • 3.1. Market Sector Overview: Air Conditioners
  • 3.2. Historical Trends and Forecasts: Air Conditioners
  • 3.3. Prices and Market Values: Air Conditioners
    • 3.4.1. End Use: Base Year
    • 3.4.2. End Use: Historical and Forecasts
    • 3.4.3. Sales by Cooling Capacity: Air Conditioners
    • 3.4.4. Sales by Cooling Type: Chillers
    • 3.4.5. Sales by Cooling Type: Packaged ACs
    • 3.4.6. Sales by Installation Type: Packaged ACs
    • 3.4.7. Sales by System Type: Packaged ACs
    • 3.4.8. Sales by Cooling Type: VRF Systems
    • 3.4.9. Sales by Sector: VRF Systems
    • 3.4.10. Sales by System Type: VRF Systems
    • 3.4.11. Sales by Compressor Technology: Mini-Splits
    • 3.4.12. Sales by System Type: Mini-Splits
    • 3.5.1. Market Shares: Air Handling Units
    • 3.5.2. Market Shares: Chillers
    • 3.5.3. Market Shares: Packaged ACs
    • 3.5.4. Market Shares: VRFs Systems (Commercial)
    • 3.5.5. Market Shares: VRF Systems (Residential)
    • 3.5.6. Market Shares: Mini-Splits (Multi)
    • 3.5.7. Market Shares: Mini-Splits (Single)
    • 3.6.1/2. Distribution Flow: Room Air Conditioners
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