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Market Research Report

Vietnam Heating 2019

Published by BRG Building Solutions Product code 342238
Published Content info 84 Pages
Delivery time: 1-2 business days
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Vietnam Heating 2019
Published: August 31, 2019 Content info: 84 Pages

Report Overview:

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:

Vietnam's economy continued to show fundamental strength, supported by robust domestic demand and export-oriented manufacturing in 2018. An inclusive growth that averaged 6.6% per annum during 2014-18, reached a 10 year high of 7.1% during. The country now is one of the most dynamic emerging countries in East Asia region. Extensive market reforms since the dawn of the doi moi era in 1986, have spurred rapid economic growth and development.

The year 2018 saw good positive growth for the Vietnamese water heater market, banking on excellent construction figures with an increasing number of new build projects, robust economic growth, growing consumer confidence and a good retail market activity. Electric storage water heater sales saw a robust growth during the year while electric instantaneous and thermosyphon tank sales also grew at a good pace, driven by increasing product and brand awareness amongst consumers.

2018 also proved to be another year of steady growth for the solar thermal market in Vietnam. The growth is mainly focused in the vacuum tube market which was mainly due to the increased commercial construction and new projects had come up remarkably in 2018. The market for flat plate systems is, however, much smaller than the vacuum tube collector market as vacuum tube collectors are much cheaper and thus favoured by the common Vietnamese consumer.

The air conditioner market which witnessed good growth during 2018. The RAC segment which benefits from high construction activities, in particular new apartment completions, combined with strong demand from the existing housing market grew due to the fast uptake of mini-splits installed in existing dwellings.

Although growth rates for packages ACs slowed down in 2018, in comparison to the previous year, sales volumes remain high, with almost all manufacturers recording growth. Strong growth was seen for VRF sales during 2018 ( one of the highest in the Southeast Asian region).

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 (2002-2018) and forecasts (2019-2023)
  • Analysis of key market drivers and an understanding of the main influences affecting the future market outlook
  • Market values and average prices (2017 and 2018) 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

  • 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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