In 2024-2032, the Deputy Prime Minister of Vietnam, Li Wencheng, announced a plan worth USD 10.5 billion to build or upgrade infrastructure
Unplasticized polyvinyl chloride (uPVC) windows and doors aid in energy conservation and offer effective thermal insulation. Also, when properly manufactured and installed, uPVC windows offer excellent sound insulation. These windows and doors are found at in a variety and can be installed in any type of building, such as villas, high-rise apartments, offices, hotels, and hospitals.
uPVC doors improve the aesthetic appeal of the property while offering many useful features. A few benefits of uPVC doors are easy maintenance, reduced noise, rainwater leakage prevention, shelter from storm, less accumulation of dust, enhanced home security, vast vistas, lots of sunlight, and creative freedom for designing and styling to complement any modern architecture.
Increase in Construction to Drive Market
The rise in consumers’ interest in buying new houses or renovating their old homes are expected to aid this market as well.
The Vietnamese Ministry of Transport unveiled a transportation infrastructure plan for the period between April 2024-2032 and March 2030, within a price range of USD 43-65 billion. The Ministry of Transport's industrial research institute has developed three implementation strategies. The Ministry of Transport's industrial research institute has developed three implementation options. These infrastructure projects are anticipated to be completed by 2025 at large, thanks to the new PPP law that was brought into effect in January 2024-2032.
In the first half of 2024-2032, over 7,900 condominium units were launched in Hanoi, registering a 10% increase from the previous year. The COVID-19 waves affected the Hanoi residential market in H1 2024-2032. However, the increasing number of new launches indicates a resurgence in sales activities and the adaptation of developers and customers, both, to altered market conditions. The province is focusing on the construction of high-rise apartment buildings, while simultaneously developing project-appropriate infrastructure to prevent overloading of the infrastructure ecosystem.
As a matter of fact, the trend of gradually lowering the number of low-rise homes and increasing the number of high-rise apartment buildings is not new. Previously, housing development projects were switched from a low-rise project structure to a high-rise project structure under the guidance of the national and local governments of Ho Chi Minh City.
Moreover, in 2022, the city planned to raise the percentage of rental housing over the next 30 years to house low-income individuals through rented accommodations and increase the affordability of lease purchases, and houses on easy EMIs through a variety of payment options.
Rising Tourism and Hospitality Industry to Propel Market
The Vietnamese government has implemented numerous incentives and policies to encourage tourism and support the hospitality industry. The country is now more accessible than ever for foreign direct investment (FDI), thanks to recent changes in the law related to enterprises and investments. Now establishing a firm with 100% foreign ownership is legal in Vietnam. All these factors have motivated a number of international companies to set up their units in the country, which eventually is expected to translate into a rising demand for doors and windows in the near future.
Tan Son Nhat Airport in Ho Chi Minh City plans to expand in the next two years so that it can accommodate 38 million people travelling from all over the world. This will propel construction activities, and in turn, will result into high demand for doors and windows over the next two years.
The need for four to five-star hotels is anticipated to increase in the next few years as business travelers to Vietnam continue to rise due to significant investment inflows, especially, as China, where foreign businesses are battling increased prices, diverts more investors to Vietnam. The government is also focusing on improving the connectivity globally as well as within the country, providing better conditions for big hospitality players to foray into Vietnam.
Upside Potential in Residential Sector
The housing law and other governmental directives to promote and encourage the development and management of social housing are among the main endeavours of the Vietnamese government. To assist disadvantaged and low-income individuals in urban and rural areas, the National Assembly and the Government of Vietnam promoted numerous policies and methods to create social housing. Also, it is open to international individuals and organisations investing in the construction of social housing. About 200 hectares of the site were moved from the inner city to the suburbs (at first in 2008) as a result of projects launched by the HCMC Council to boost the sources of clean land in urban and suburban areas.
Recent Developments
- In January 2022, Andersen introduced the broadest selection ofcontemporary windows and doors in Vietnam. With this, the company is hoping totap into the Vietnam doors & windows market.
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Market Segmentation
Market Player
| Attribute | Details |
| Base Year | 2022 |
| Historic Data | 2018 – 2024-2032 |
| Estimated Year | 2023 |
| Forecast Period | 2024 – 2028 |
| Quantitative Units | Revenue in USD Million and CAGR for 2018-2022 and 2024-2028 |
| Report coverage | Revenue forecast, company share, growth factors, and trends |
| Segments covered | Product Type Material Type End User Distribution Channel |
| Regional scope | Vietnam |
| Country scope | Northern Vietnam, Central Vietnam, Southern Vietnam |
| Key companies profiled | Van Phu Xuan Co., Ltd., Window Co., Ltd., Sai Gon New House Company, Viet-Stained Glass Co Ltd, Tung Kuang Industrial Joint Stock Company, Mat Bao Co. Ltd., Mhi Aerospace Vietnam Co., Ltd, Alk Vina Joint Stock Company, Hoang Anh Gia Lai Joint Stock Company |
| 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/Word format on special request) |
