Vietnam Air Conditioner Market Grow with a CAGR of 7.98% through 2030F
The Vietnam Air Conditioner market is driven by rising temperatures, rapid urbanization, growing
disposable incomes, increasing construction activities, and the demand for energy-efficient
cooling solutions.
According to
TechSci Research report, “Vietnam Air Conditioner Market – By Region,
Competition, Forecast & Opportunities, 2030F”, the Vietnam Air Conditioner market stood at USD 1.02 Billion
in 2024 and is anticipated to grow USD 2.89 Billion by 2030 with a CAGR 7.98%
during forecast period owing to the growing tourism industry across the region.
With an increasing influx of international and domestic tourists, particularly
in major cities like Hanoi, Ho Chi Minh City, and coastal regions, the demand
for air conditioning in hotels, resorts, and other hospitality establishments
is surging. As the tourism sector expands, hotels and resorts are investing in
modern air conditioning systems to enhance guest comfort and meet higher
standards. Also, as the tourism industry grows, it encourages the construction
of new commercial buildings, further boosting the demand for air conditioning
systems across the country.
The Vietnam Air
Conditioner market is primarily driven the country’s growing population is
increasing urbanization, leading to higher demand for residential and
commercial air conditioning units. With more people moving to cities and an
expanding middle class, the need for cooling solutions is on the rise. Also,
government support through initiatives aimed at improving energy efficiency and
providing subsidies for green technologies is encouraging the adoption of
modern, energy-efficient air conditioners. The rising temperatures and humidity
levels in the region also contribute to greater consumer demand for reliable
cooling systems, further boosting market expansion in Vietnam.
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The Vietnam Air
Conditioner market is segmented into type, end user, and region.
Based on the end
user, the commercial segment is the fastest growing in the Vietnam Air
Conditioner market. As businesses
expand and the commercial sector thrives, the demand for efficient and reliable
air conditioning systems in offices, retail outlets, restaurants, and other
commercial spaces is increasing. The need for a comfortable working
environment, especially in high-temperature regions, drives businesses to
invest in modern air conditioning systems. Also, the growth of shopping malls,
hotels, and other commercial establishments contributes significantly to this
trend. With the rising focus on energy efficiency and technological
advancements, commercial spaces are adopting advanced air conditioners to enhance
comfort and reduce operational costs.
Based on the
region, Central is the fastest-growing region in the Vietnam Air Conditioner
market, driven by rapid urbanization, increasing disposable incomes, and
growing demand for cooling solutions. Cities like Da Nang and Hue are emerging
as key economic hubs, with a rise in residential, commercial, and industrial
developments. As these urban areas expand, there is an increasing need for air
conditioning systems in both homes and businesses. The region's popularity as a
tourist destination has also boosted the demand for air conditioners in hotels,
resorts, and hospitality establishments. Also, the Central region’s relatively
high temperature and humidity levels make air conditioning essential for
comfort. This combination of economic growth, infrastructure development, and
climate factors is propelling the Central region as the fastest-growing market
for air conditioners in Vietnam.
Major companies
operating in the Vietnam Air Conditioner market are:
- Daikin
Vietnam
- Panasonic
Vietnam Co., Ltd
- LG
Electronics Vietnam Hai Phong Company
- Samsung
Vina Electronics Co., Ltd.
- Midea
Vietnam
- Trane
Technologies Company, LLC
- Gree
Air Conditioner (Vietnam) Co., Ltd
- Hitachi
Energy Ltd
- Mitsubishi
Electric Vietnam
- Carrier
Global Corporation
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“The Vietnam Air
Conditioner market is expected to grow in the future owing to the growing number
of educational facilities across the region. As the population increases and
urbanization continues, the demand for educational institutions, including
schools, universities, and vocational centers, is rising. These facilities
require air conditioning systems to provide a comfortable learning environment,
especially in the hot and humid climate of Vietnam. Air conditioning helps
maintain optimal classroom conditions, improving concentration and productivity
for students and teachers. Also, as educational standards improve, institutions
are investing in modern infrastructure, including energy-efficient cooling
solutions. The expansion of educational facilities, particularly in urban
centers like Hanoi and Ho Chi Minh City, is therefore fuelling the demand for
air conditioners. Also, the increasing focus on student well-being and the need
for better indoor air quality further contribute to the growing adoption of air
conditioning in educational institutions across the country., said
Mr. Karan Chechi, Research Director of TechSci Research, a research-based
management consulting firm.
Vietnam Air Conditioner
Market By Type (Splits, VRFs, Chillers, Windows, Others), By End
User (Residential, Commercial), By Region, Competition, Forecast & Opportunities, 2020-2030F”, has evaluated the future growth potential of Vietnam
Air Conditioner market and provides statistics & information on market
size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in the Vietnam Air
Conditioner market.
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