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
|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.
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.
This report focuses on the following product categories: