Vietnam residential electric water pump market is projected to surpass $ 140 million by 2025 on account of rising demand for water in residential sector and increasing disposal income. Moreover, demand for residential pumps is anticipated to increase because of rising population and shifting of population from rural to urban areas, with currently around 37% of the Vietnamese population living in urban areas. Moreover, demand for these pumps is increasing in Vietnam because of extended dry periods, due to which, people are using water pumps to get water for meeting their daily requirements.
The demand for residential electric water pumps is expected to decline in 2020 compared to what it was in 2019 by almost 18%, owing to decline in consumer spending and lockdown due to COVID-19. In addition to it, the demand is expected to grow in coming years because of increase in job opportunities in the country as major players Like Apple, Microsoft and Google are planning to shift their production lines from China to Vietnam due to proximity to Shenzhen (China’s Manufacturing Hub), thus helping the organizations to smoothly route their manufacturing units.
Vietnam residential electric water pump market is segmented based on type of well, function, pumps, power rating base, price range, company and region. Based on well type, the market can be segmented into shallow well, deep well. Among these, shallow well is expected to hold the largest market share during the forecast period. Based on function the market is segmented into automatic, non-automatic. Among these, automatic pump is expected to hold major share until 2025. Regionally, Vietnam residential electric water pump market
Major players operating in the Vietnam residential electric water pump market include
Years considered for this report
Historical Years2015-2018
Base Year2019
Estimated Year2020
Forecast Period2021–2025
Objective of the Study
- To analyze and estimate the market size of Vietnam residential electric water pump market from 2015 to 2019.
- To estimate and forecast the market size of Vietnam residential electric water pump market from 2020 to 2025 and growth rate until 2025.
- To classify and forecast Vietnam residential electric water pump market based on well type, function, pump, power rating, price range, company and regional distribution.
- To identify dominant region or segment in the Vietnam residential electric water pump market.
- To identify drivers and challenges for Vietnam residential electric water pump market.
- To examine competitive developments such as
expansions, new product launches, mergers & acquisitions, etc., in Vietnam residential electric water pump market.
- To identify and analyze the profile of leading
players operating in Vietnam residential electric
water pump market.
- To identify key sustainable strategies adopted
by market players in Vietnam residential electric
water pump market.
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Market Insights Research performed both primary as well as exhaustive secondary research for this study. Initially, Market Insights Research sourced a list of manufacturers in Vietnam. Subsequently, Market Insights Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, Market Insights Research could include the manufacturers which could not be identified due to the limitations of secondary research. Market Insights Research analyzed the manufacturers, distribution channels and presence of all major players in Vietnam.
Market Insights Research calculated the market size of
Key Target Audience
- Residential electric water pump manufacturers, suppliers, distributors and
other stakeholders
- Government bodies such as regulating
authorities and policy makers
- Organizations, forums and alliances related to
residential electric water pump
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers, partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
