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
|Vietnam Heating 2019|
|Published: August 31, 2019||Content info: 84 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.
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).
This report focuses on the following product categories: