Northern Vietnam to Dominate Vietnam Residential Electric Water Pump Market until 2025
According
to TechSci Research report, “Vietnam
Residential Electric Water Pump Market By Well Type, By Pump Type, By Function
Type, By Power Rating, By Price Range, By Region, Competition, Forecast
& Opportunities, 2025”, Vietnam residential electric water pump market is projected
to reach $ 140 million by 2025 on account of increase in house construction
activities in Vietnam and to meet the increasing demand-supply for water across
the country. Furthermore, prolonged drought like conditions in Central and
Northern Vietnam is one of the major issues for the population, and to address
this, people are using electric water pumps so that they can meet their daily water
requirements.
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Figures spread through 70 Pages and an in-depth TOC on "Vietnam
Residential Electric Water Pump Market"
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Vietnam residential electric water pump
market is segmented based on well type, function type, pump type, power rating,
price range and region. Based on well type, the market can be segmented into shallow
well and deep well. Among these, shallow well is expected to hold the largest
market share during forecast period. Regionally, Vietnam residential electric water
pump market has been segmented into Northern Vietnam,
Southern Vietnam and Central Vietnam. Among these, Northern Vietnam is expected
to hold the largest share in the market predominantly owing to the region’s
huge and growing population.
Major players operating in Vietnam residential
electric water pump market include Panasonic
Malaysia Sdn Bhd, Hitachi Home Electronics Vietnam, Mitsubishi Electric
Corporation, Shimizu Corporation, Wilo Vietnam Co. Ltd, Ebara Vietnam Pump
Company Limited, Pentax Industries S.p.A, Iwaki Co., Ltd., among others. 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.
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“Northern Vietnam is expected to dominate
the residential electric water pump market during the
forecast period, owing to extended dry periods in the region and need to pump
underground water during these periods. Additionally, Government of Vietnam is
taking necessary actions to meet the demand for water. The imports of electric
water pumps have increased over the years to meet the surging water demand.” said
Mr. Karan Chechi, Research Director with TechSci Research, a research based
global management consulting firm.
“Vietnam Residential Electric Water Pump Market By
Well Type, By Pump Type, By Function Type, By Power Rating, By Price Range, By
Region, Competition, Forecast & Opportunities, 2025” has evaluated the future growth potential of Vietnam residential
electric water pump 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 Vietnam
residential electric water pump market.
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