Vietnam Air Conditioner Market

Vietnam Air Conditioner Market - By Product Type (Room AC (Window, Split), Ducted AC (Ceiling Concealed), Rooftop Packaged, Ductless AC (Cassette, Floor Standing, Ceiling Suspended), Centralized AC (VRF, AHU/FCU, Chiller)); By Application (Residential, Commercial Offices & Retail, Healthcare, Transportation, Hospitality), Trend Analysis, Competitive Landscape & Forecast, 2019–2029


Vietnam Air Conditioner Market Size Set to Grow at Steady CAGR of 4.26% During 2023–2029

Vietnam air conditioner market is growing due to rising disposable incomes, increasing urbanization, changing climatic conditions, infrastructure development, and the growing demand for energy-efficient and eco-friendly cooling solutions.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, expects Vietnam air conditioner market size to grow at a significant CAGR of 4.26% during the forecast period between 2023 and 2029. Growing environmental concerns and government regulations are major factors driving the growth of the Vietnam air conditioner market. Customers choose inverter-based air conditioners because they are more energy efficient and have reduced operating expenses. Furthermore, smart air conditioners with features such as Wi-Fi connectivity, smart controls, and voice activation are becoming increasingly popular, allowing consumers to remotely manage their cooling systems. In addition, there is an increase in the use of air conditioners equipped with innovative air filtration technologies to improve indoor air quality. The market is shifting towards ductless mini-split systems, which provide flexibility, ease of installation, and improved cooling performance. These patterns indicate changing consumer choices and priorities in the Vietnam air conditioner market.

Vietnam Air Conditioner Market – Overview


An air conditioner is an electric appliance for dehumidifying and cooling indoor areas. In order to create a cozy and controlled environment, it extracts heat from the air and releases it outside. Compressor, condenser, evaporator, and refrigerant are just a few of the parts that make up an air conditioner. The refrigerant is pressurized by the compressor before flowing through the condenser, where it releases heat. The refrigerant is then sent to the evaporator, where it cools the indoor air by absorbing heat from it. The heated air is then vented outdoors while the cooled air is returned to the interior. To maintain a comfortable temperature and humidity level in homes, businesses, and other structures, air conditioners are frequently utilized.

Impact of COVID-19 on Vietnam Ready to Eat Food Market

The COVID-19 pandemic significantly impacted the Vietnam air conditioner market. With the implementation of lockdowns, travel restrictions, and social distancing measures, the construction sector, which is a major consumer of air conditioners, experienced a slowdown. This resulted in a decrease in demand for air conditioning units. Also, disruptions in the global supply chain and manufacturing activities led to product shortages and increased prices. The economic uncertainties caused by the pandemic also affected consumer purchasing power, further dampening the market. However, as the situation improves and restrictions ease, the market is expected to gradually recover, driven by pent-up demand and government stimulus measures.

Vietnam Air Conditioner Market – By Product Type

On the basis of product type, Vietnam air conditioner market is divided into Room AC (Window, Split), Ducted AC (Ceiling Concealed), Rooftop Packaged, Ductless AC (Cassette, Floor Standing, Ceiling Suspended), and Centralized AC (VRF, AHU/FCU, Chiller). Among the various segments in the Vietnam air conditioner market, the largest segment is the Split Room AC. Split Room AC refers to air conditioning systems that consist of two units: an indoor unit that is typically mounted on a wall inside the room and an outdoor unit that is installed outside the building. This segment is popular due to its versatility, energy efficiency, and affordability. It provides effective cooling for individual rooms or small spaces. Other segments in the Vietnam air conditioner market include Window AC, Ducted AC, Rooftop Packaged, Ductless AC (Cassette, Floor Standing, Ceiling Suspended), and Centralized AC (VRF, AHU/FCU, Chiller). However, the split room AC segment holds the largest share in terms of market demand and consumer preference.

Competitive Landscape

Vietnam air conditioner market is fiercely competitive. Major companies in the market include Daikin Vietnam, Panasonic Vietnam, LG Electronics Vietnam, Samsung Electronics Vietnam, Midea Group (Vietnam), Trane Vietnam, Gree Electric Appliances Inc. of Zhuhai (Vietnam), Hitachi Vietnam, Mitsubishi Electric Vietnam, and Carrier Vietnam. These companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in Vietnam air conditioner market.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Vietnam Air Conditioner Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Vietnam Air Conditioner Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.


1. Research Framework
1.1. Research Objective
1.2. Product Overview
1.3. Market Segmentation
2. Executive Summary
3. Vietnam Air Conditioner Market Insights
3.1. Industry Value Chain Analysis
3.2. DROC Analysis
3.2.1. Drivers
3.2.1.1. Rising disposable income
3.2.1.2. Urbanization and infrastructure development in Vietnam
3.2.2. Restraints
3.2.2.1. High energy consumption and environmental impact
3.2.2.2. Competition from alternatives such as fans and evaporative coolers, provide lower–cost options for cooling
3.2.3. Opportunities
3.2.3.1. Energy Efficiency and Green Solutions
3.2.3.2. Reliable after-sales services, including installation, maintenance, and repair
3.2.4. Challenges
3.2.4.1. Distribution Challenges
3.2.4.2. Economic Volatility
3.3. Technology Advancements/Recent Developments
3.4. Regulatory Framework
3.5. Porter’s Five Forces Analysis
3.5.1. Bargaining Power of Suppliers
3.5.2. Bargaining Power of Buyers
3.5.3. Threat of New Entrants
3.5.4. Threat of Substitutes
3.5.5. Intensity of Rivalry
4. Vietnam Air Conditioner Market Overview
4.1. Market Size & Forecast, 2019–2029
4.1.1. By Value (USD Million)
4.2. Market Share & Forecast
4.2.1. By Product Type
4.2.1.1. Room AC
4.2.1.1.1. Window
4.2.1.1.2. Split
4.2.1.2. Ducted AC
4.2.1.2.1. Ceiling Concealed
4.2.1.3. Rooftop Packaged
4.2.1.4. Ductless AC
4.2.1.4.1. Cassette
4.2.1.4.2. Floor Standing
4.2.1.4.3. Ceiling Suspended
4.2.1.5. Centralized AC
4.2.1.5.1. VRF
4.2.1.5.2. AHU/FCU
4.2.1.5.3. Chiller
4.2.1.5.4. Others
4.2.2. By Application
4.2.2.1. Residential
4.2.2.2. Commercial Offices & Retail
4.2.2.3. Healthcare
4.2.2.4. Transportation
4.2.2.5. Hospitality
4.2.2.6. Others
5. Competitive Landscape
5.1. List of Key Players and Their Offerings
5.2. South Africa Insurance Company Market Share Analysis, 2022
5.3. Competitive Benchmarking, By Operating Parameters
5.4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
6. Impact of Covid-19 on Vietnam Air Conditioner Market
7. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
7.1. Daikin Vietnam
7.2. Panasonic Vietnam
7.3. LG Electronics Vietnam
7.4. Samsung Electronics Vietnam
7.5. Midea Group (Vietnam)
7.6. Trane Vietnam
7.7. Gree Electric Appliances Inc. of Zhuhai (Vietnam)
7.8. Hitachi Vietnam
7.9. Mitsubishi Electric Vietnam
7.10. Carrier Vietnam
7.11. Other Prominent Players
8. Key Strategic Recommendations
9. Research Methodology
9.1. Qualitative Research
9.1.1. Primary & Secondary Research
9.2. Quantitative Research
9.3. Market Breakdown & Data Triangulation
9.3.1. Secondary Research
9.3.2. Primary Research
9.4. Breakdown of Primary Research Respondents, By Region
9.5. Assumptions & Limitations
*Financial information of non–listed companies can be provided as per availability.
**The segmentation and the companies are subject to modifications based on in–depth secondary research for the final deliverable.
List of Figures
Figure 1 Vietnam Air Conditioner Segmentation
Figure 2 Vietnam Air Conditioner Market Value Chain Analysis
Figure 3 Company Market Share Analysis, 2022
Figure 4 Vietnam Air Conditioner Market Size, By Value (USD Million), 2019–2029
Figure 5 Vietnam Air Conditioner Market Share, By Product Type, By Value, 2019–2029
Figure 6 Vietnam Air Conditioner Market Share, By Application, By Value, 2019–2029
List of Tables
Table 1 Vietnam Air Conditioner Market Size, By Value (USD Million), 2019–2029
Table 2 Vietnam Air Conditioner Market Share, By Product Type, By Value, 2019–2029
Table 3 Vietnam Air Conditioner Market Share, By Application, By Value, 2019–2029
Table 4 Daikin Vietnam Company Overview
Table 5 Daikin Vietnam Financial Overview
Table 6 Panasonic Vietnam Company Overview
Table 7 Panasonic Vietnam Financial Overview
Table 8 LG Electronics Vietnam Company Overview
Table 9 LG Electronics Vietnam Financial Overview
Table 10 Samsung Electronics Vietnam Company Overview
Table 11 Samsung Electronics Vietnam Financial Overview
Table 12 Midea Group (Vietnam) Company Overview
Table 13 Midea Group (Vietnam) Financial Overview
Table 14 Trane Vietnam Company Overview
Table 15 Trane Vietnam Financial Overview
Table 16 Gree Electric Appliances Inc. of Zhuhai (Vietnam) Company Overview
Table 17 Gree Electric Appliances Inc. of Zhuhai (Vietnam) Financial Overview
Table 18 Hitachi Vietnam Company Overview
Table 19 Hitachi Vietnam Financial Overview
Table 20 Mitsubishi Electric Vietnam Company Overview
Table 21 Mitsubishi Electric Vietnam Financial Overview
Table 22 Carrier Vietnam Company Overview
Table 23 Carrier Vietnam Financial Overview
Table 24 Other Prominent Players Company Overview
Table 25 Other Prominent Players Financial Overview

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