Vietnam Water Heater Market to be Valued USD 359 Million by 2027
Increasing
technological upgradations in water heaters and rising presence of water
heaters companies on online retail channels to fuel the Vietnam water heater
market through the forecast period.
According to
TechSci Research report, “Vietnam Water Heater Market – By
Region, Competition, Forecast & Opportunities, 2017-2027F”. The rising demand for solar
water heater, increasing commercial infrastructure and growing need for water
heaters are fueling the overall sales of water heater in Vietnam. Other
significant factors, such as rising demand for smart water heaters and
increasing product launches by water heater companies, are also contributing to
the market growth.
Moreover, the consumers
preferences are shifting towards energy efficient solutions which is further
leading to rise in demand for solar as well as heat pump water heater. The
demand for solar water heater is rising owing to the various advantages offered
by these products such as high efficiency, reduction in carbon footprints, ease
of availability, easy maintenance, etc. Also, the solar heaters operate by utilizing
the energy of the sun. The burning of fossil fuels is one of the main causes of
air pollution. When fossil fuels are burned, harmful gases like carbon dioxide
and sulphur dioxide are released. Solar water heaters do not contribute in
either harmful way. Furthermore, solar water heaters can function in the winter
and even at subfreezing temperatures. They primarily have two defences against
freezing. To prevent freezing, an anti-freeze liquid flows from the collector
to the storage. Drain back technology is an additional method. The apparatus
drains the water when it becomes too cold. As a result, even in severely cold
conditions, solar water heater does not freeze.
The heat pump water heater
has several benefits, including the ability for using heat from the environment
to minimize CO2 emissions by up to 70%. It also has low operating costs,
requires little maintenance, and saves on energy consumption. Heat pumps are
still not as common in Vietnam as traditional heat-supplying equipment. Due to
its tropical environment, the north experiences winter, which is typically
marked by rain, storms, and fog. As a result, there is a significant need for
water heaters in this part of Vietnam.
Additionally, smart water
heaters have been gaining popularity since last couple of years. Due to a
number of features that these devices offer, like remote control functionality
and smart technology that can track usage trends, evaluate occupant behavior
patterns, and estimate usage appropriately, the demand for smart water heaters
is on the rise. Through remote monitoring and consumption management, a smart
water heater can conserve both water and electricity. Smart Wi-Fi water heaters
are offered in Vietnam by companies like Ariston. Additionally, the Tiêu Chun
Vit Nam (TCVN) standard for smart water heaters was released by the Vietnamese
government in 2022 and is set to take effect on January 1, 2025. Organizations
can sign up before the deadline for voluntary testing and the certification of
conformance for energy efficiency labelling. Such characteristics will increase
the customer base, which will boost the nation's increasing demand for these
products.
Browse over 34 market data figures
spread through 116 Pages and an in-depth TOC on the "Vietnam Water Heater Market."
Vietnam water heater market
is segmented based on product type, application, and region. The product type segment
is divided into electric water heater, solar water heater, gas water heater,
and heat pump water heater. The solar water heater segment is gaining
popularity among consumers since it is energy efficient, eco-friendly and is
easy to maintain. Also, rising awareness among consumers regarding the need of
using energy efficient products is further boosting the demand of solar water
heater in the country.
In terms of application, the
market is segmented into residential and commercial/industrial. This residential
segment is anticipated to continue to dominate the market during the forecast
period. Water heaters, particularly electric water heaters are widely used in
households in the nation. Also, water heater companies are expanding their
product portfolio by launching new products to offer consumers a wide variety
to choose from. Such factors are projected to boost the demand of water heaters
in the residential sector in future.
Key market players in the Vietnam
water heater market include:
- 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
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"The water heater market
in Vietnam has been observing significant growth over the past few years. Solar
water heaters are observing a significant increase in demand in the country.
These water heaters are sustainable, low-impact heating systems that produce
nearly no greenhouse gas emissions. Reducing electricity costs is another
benefit of using solar water heaters. Hence, market players are emphasizing on
offering solar water heater to expand their consumers base. Such factors are
further anticipated to contribute to the overall development of this market.”
said Mr. Karan Chechi, Research Director with TechSci Research, a research-based
Vietnam management consulting firm.
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
(Northern Vietnam, Southern
Vietnam, and Central Vietnam) Competition,
Forecast & Opportunities, 2017-2027F”, has
evaluated the future growth potential of water heater and provides statistics
and information on market structure, size, share, and future growth. The report
is intended 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 present in water heater in Vietnam.
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