Vietnam Water Heater Market By Product Type (Electric Water Heater, Gas Water Heater, Solar Water Heater, Heat Pump Water Heater), By Application (Residential, Commercial/Industrial), By Region, Competition Forecast & Opportunities, 2027F
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Consumer Goods and Retail | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationVietnam water heater market is anticipated to grow at a CAGR of around 10% during the forecast period to reach over USD359 million by 2027 on account of growing requirement for energy-efficient heating products and changing consumer preferences. Furthermore, technological advancements, as well as the rising disposable income of consumers, are projected to fuel the Vietnam water heater market growth in the next five years.
Water heating is a heat transfer technique that raises the temperature of water from its starting point. Water heaters found at these days are simple, economical, and secure to handle. Water heater can be turned on for heating water. In Vietnam, storage water heaters dominate the water heater market. However, instantaneous water heaters are gaining wide popularity due to several benefits offered by these products since they are efficient, and occupy less . They heat water only when needed at any desired temperature.
Technologically Advanced Products to Drive
People are really getting into energy-efficient stuff these days! That's pushing companies to focus on making products that save energy. Take Panasonic, for example. They're making these awesome maintenance-free storage water heaters that are super safe, energy-efficient, and don't take up a lot of space. The cool thing is, they've figured out how to get rid of that annoying corrosion problem. See, in places like Vietnam, the water can be pretty acidic, which means water heaters rust faster and the enamel coating breaks down. But because these water heaters are made with top-notch stainless steel, they fight off corrosion and help keep the water clean. Plus, Supergreen's water heaters use infrared heating with quartz tubes. This doesn't just heat the water; it also kills up to 80% of bacteria, which is a huge help in providing clean water.
Rising Demand for Solar Water Heaters to Fuel the Market Growth
Because solar water heaters are easy to set up, don't need much upkeep, and are great for the environment because they cut down on carbon emissions and save energy, more and more people in Vietnam want them. Plus, they use the sun's energy to heat water instead of electricity, which can really lower your monthly bill. To keep up with this growing popularity, companies are focusing on releasing new and improved solar water heaters. For example, at Vietbuild 2021 in Ho Chi Minh City, the Rheem Group's 'Solahart' brand showed off their Sunheat line – featuring a ceramic-glazed tank, a special anode rod to prevent rust, and a tough, weather-resistant collector panel. All of this suggests the market for solar water heaters in Vietnam will continue to grow in the future. Learn more about solar water heaters.
Increasing Online Channels of Water Heaters Aids Market Growth
With COVID-19 changing everything, water heater companies have really boosted their online game to connect with more of us. This move from stores to online shops is actually pretty great because it lets us easily compare different models and prices. Plus, because of COVID-19, buying online is just easier, right? Big names like Ariston, Electrolux, and Ferroli are all selling water heaters online now. And with all the sweet deals and discounts you can find on e-commerce sites, it's no wonder people are choosing to buy online. You can even find them on sites like Shopee and Lazada, making it easier for everyone to get their hands on a new water heater. So, yeah, it looks like
Market Segmentation
The Vietnam water heater market is segmented based on product type, application, region, and competitional landscape. Based on product type, the market is fragmented into the electric water heater, gas water heater, solar water heater, and heat pump water heater. Based on application, the market is segmented into residential and commercial/industrial. The market analysis also studies the regional segmentation to devise regional market segmentation, divided among Northern Vietnam, Southern Vietnam, and Central Vietnam.
Company Profiles
Ariston Thermo Vietnam Co., Ltd., Rheem Vietnam Co., Ltd., Ferroli Asean Co., Ltd., Tan A Dai Thanh Group, Groupe Atlantic Vietnam,
| Attribute | Details |
| Market size value in 2021 | USD197.98 Million |
| Revenue Forecast in 2027 | USD359.09 Million |
| Growth Rate | 10.61% |
| Base Year | 2021 |
| Historical Years | 2017 – 2020 |
| Estimated Year | 2022 |
| Forecast Period | 2023 – 2027 |
| Quantitative Units | Revenue in Value (USD Million), in Volume (Thousand Units) and CAGR for 2017-2021 and 2022E-2027F |
| Report Coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
| Segments Covered | Product Type Application Region Company |
| Regional Scope | Northern Vietnam, Southern Vietnam and Central Vietnam |
| Key Companies Profiled | Ariston Thermo Vietnam Co., Ltd., Rheem Vietnam Co., Ltd., Ferroli Asean Co., Ltd., Tan A Dai Thanh Group, Groupe Atlantic Vietnam, Panasonic Vietnam Co., Ltd., Electrolux Vietnam Co. Ltd, Kangaroo Group, AO Smith Vietnam Co., Ltd., Picenza Vietnam Trading and Production Co., Ltd., Solar Bach Khoa Group |
| Customization Scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and Purchase Options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request) |
In this report, Vietnam water heater market has been segmented into following categories, in addition to the industry trends which have also been detailed below
- Vietnam Water Heater Market, By Product Type
- Electric Water Heater
- Solar Water Heater
- Gas Water Heater
- Heat Pump Water Heater
- Vietnam Water Heater Market, By Application
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- Vietnam Water Heater Market, By Region
- Northern Vietnam
- Southern Vietnam
- Central Vietnam
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Company Profiles
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