Vietnam HVAC Market

Best Price Guarantee	Length	Publisher	Published Date	SKU
from $2,950	200 Pages	BlueWeave Consulting	August, 2023	BLWC18132155

Best Price Guarantee
Price	from $2,950
Length	200 Pages
Publisher	BlueWeave Consulting
Published Date	August, 2023
SKU	BLWC18132155

Vietnam HVAC Market, By Offering (Equipment, Service); By Implementation Type (New Constructions, Retrofits); By End User (Residential, Commercial, Industrial), Trend Analysis, Competitive Landscape & Forecast, 2019–2029

Vietnam HVAC Market Size Set to Cross USD 1 Billion by 2029

Vietnam HVAC market is gaining traction because of the growing tourism and hospitality sector and rising investments in sustainable energy technologies.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Vietnam HVAC market size at USD 0.784 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the Vietnam HVAC market size to grow at a CAGR of 5.25% reaching a value of USD 1.066 billion by 2029. Rising disposable income as well as increasing understanding of and demand for energy-efficient systems are significant development drivers for the Vietnam HVAC market. Furthermore, it is projected that the development of the infrastructure and the rising construction of residential and commercial properties will drive the Vietnam HVAC market growth during the forecast period.

Vietnam HVAC Market – Overview

Heating, ventilation, and air conditioning, or HVAC, is a system for maintaining and controlling the temperature, humidity, and purity of the air in a room or enclosed space. These systems are used in a wide range of commercial, residential, and industrial facilities, such as family homes, apartments, hotels, hospitals, trains, airplanes, and ships. Ventilation is a key aspect of HVAC as it helps in maintaining indoor air quality, which involves the removal of moisture, odors, smoke, and dust, temperature control, and oxygen replenishment.

Vietnam HVAC Market

Segmental Information

Vietnam HVAC Market – By End User

Based on end user, the Vietnam HVAC market is segmented into residential, commercial, and industrial. The residential segment accounts for the highest share of the Vietnam HVAC market. Consumers' rising disposable income and improving living standards are emerging as the key drivers of market expansion. As a result, there is a growing need for HVAC systems and appliances to be installed in small homes. However, because of the increased development of commercial facilities like offices, retail centers, and hotels, throughout the nation, the commercial segment is predicted to record the highest growth rate during the projection period.

Impact of COVID-19 on Vietnam HVAC Market

In 2020 and early 2021, Vietnam had the fewest COVID-19 cases worldwide, according to a World Bank report. However, a significant decline in income as a result of job losses negatively impacted the growth of the Vietnam HVAC market. The restrictions on the manufacturing activities and supply chain of HVAC equipment, along with limited operations in the construction industry due to the shortage of labor, are linked to the stagnation of the Vietnam HVAC market. Due to the nation's economic crisis, people's purchasing power was also impacted. All of these factors led to a sharp decline in the demand for HVAC systems in Vietnam, which had an effect on the market's overall growth.

Competitive Landscape

Major players operating in the Vietnam HVAC market include Panasonic Vietnam Co., Ltd, Daikin Air Conditioning Vietnam JSC, LG Electronics Vietnam Haiphong Co Ltd, Toshiba Carrier Vietnam Air Conditioning Co Ltd, Sharp Electronics (Vietnam) Company Limited, Mitsubishi Electric Vietnam Co, Ltd, Munters, Fujitsu General, and Nortek Air Solutions. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and the Vietnam HVAC Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Vietnam HVAC 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 HVAC Market Insights: 3.1. Industry Value Chain Analysis; 3.2. DROC Analysis; 3.2.1. Growth Drivers; 3.2.1.1. Growing Tourism and Hospitality Sector; 3.2.1.2. Rising Investment in Sustainable Energy Technologies; 3.2.2. Restraints; 3.2.2.1. Lack Of Skilled Professionals; 3.2.2.2. Energy Efficiency and Sustainability Concerns; 3.2.3. Opportunities; 3.2.3.1. Increasing Technological Innovations; 3.2.3.2. Expanding Residential And Commercial Building Development; 3.2.4. Challenges; 3.2.4.1. Cost of Installation and Maintenance; 3.2.4.2. Competition and Market Saturation; 3.3. Technological 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 HVAC Market Overview: 4.1. Market Size & Forecast, 2019–2029; 4.1.1. By Value (USD Billion); 4.2. Market Share & Forecast; 4.2.1. By Offering; 4.2.1.1. Equipment; 4.2.1.1.1. Heating; 4.2.1.1.1.1. Heat Pumps; 4.2.1.1.1.1.1. Air-source; 4.2.1.1.1.1.2. Water-source; 4.2.1.1.1.1.3. Ground-source; 4.2.1.1.1.2. Furnaces; 4.2.1.1.1.2.1. Gasoline; 4.2.1.1.1.2.2. Propane; 4.2.1.1.1.2.3. Electric; 4.2.1.1.1.3. Boilers; 4.2.1.1.1.3.1. Water-tube; 4.2.1.1.1.3.2. Fire-tube; 4.2.1.1.1.4. Unitary heaters; 4.2.1.1.2. Ventilation; 4.2.1.1.2.1. Air-Handling Units (AHUs); 4.2.1.1.2.1.1. Terminal units; 4.2.1.1.2.1.2. Makeup air units; 4.2.1.1.2.2. Ventilation Fans; 4.2.1.1.2.2.1. Centrifugal fans; 4.2.1.1.2.2.2. Axial fans; 4.2.1.1.2.2.3. Domestic exhaust fans; 4.2.1.1.2.2.4. Power roof fans; 4.2.1.1.2.3. Fan Coil Units (FCUs); 4.2.1.1.2.3.1. Two-pipe; 4.2.1.1.2.3.2. Four-pipe; 4.2.1.1.2.4. Humidifiers/dehumidifiers; 4.2.1.1.2.5. Air cleaners; 4.2.1.1.2.5.1. Type 1: High-efficiency particulate air (HEPA) + carbon; 4.2.1.1.2.5.2. Type 2: HEPA + carbon + ionizer; 4.2.1.1.2.5.3. Type 3: HEPA + carbon + ultraviolet (UV); 4.2.1.1.2.5.4. Type 4: HEPA + carbon + ionizer + UV; 4.2.1.1.2.5.5. Type 5: Other technologies; 4.2.1.1.3. Cooling; 4.2.1.1.3.1. Room air conditioners (ACS); 4.2.1.1.3.1.1. Mini splits; 4.2.1.1.3.1.2. Window ACs; 4.2.1.1.3.2. Split units; 4.2.1.1.3.3. Ducted splits; 4.2.1.1.3.3.1. Water-cooled condensers; 4.2.1.1.3.3.2. Air-cooled condensers; 4.2.1.1.3.4. Packaged units; 4.2.1.1.3.4.1. Water-cooled condensers; 4.2.1.1.3.4.2. Air-cooled condensers; 4.2.1.1.3.5. Variable refrigerant flow (VRF) systems; 4.2.1.1.3.5.1. Heat Pump Systems; 4.2.1.1.3.5.2. Heat Recovery Systems; 4.2.1.1.3.6. Chillers; 4.2.1.1.3.6.1. Centrifugal; 4.2.1.1.3.6.2. Screw; 4.2.1.1.3.6.3. Scroll; 4.2.1.1.3.6.4. Absorption; 4.2.1.1.3.6.5. Reciprocating; 4.2.1.2. Service; 4.2.1.2.1. Upgradation/replacement; 4.2.1.2.2. Maintenance and repair; 4.2.1.2.3. Installation; 4.2.1.2.4. Consulting; 4.2.2. By Implementation Type; 4.2.2.1. New Constructions; 4.2.2.2. Retrofits; 4.2.3. By End-User; 4.2.3.1. Residential; 4.2.3.2. Commercial; 4.2.3.3. Industrial
5. Competitive Landscape: 5.1. List of Key Players and Their Range; 5.2. Vietnam HVAC Company Market Share Analysis, 2022; 5.3. Competitive Benchmarking, By Operating Parameters; 5.4. Key Strategic Development (Merger, Acquisition, Partnership)
6. Impact of Covid-19 on Vietnam HVAC Market Industry
7. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook, SWOT Analysis): 7.1. Panasonic Vietnam Co Ltd; 7.2. Daikin Air Conditioning Vietnam JSC; 7.3. LG Electronics Vietnam Haiphong Co., Ltd; 7.4. Toshiba Carrier Vietnam Air Conditioning Co Ltd; 7.5. Sharp Electronics (Vietnam) Company Limited; 7.6. Mitsubishi Electric Vietnam Co Ltd; 7.7. Munters; 7.8. FUJITSU GENERAL; 7.9. Nortek Air Solutions; 7.10. 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; 9.5. Assumption & Limitation; *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 HVAC Market Segmentation; Figure 2 Vietnam HVAC Market Value Chain Analysis; Figure 3 Company Market Share Analysis, 2021; Figure 4 Vietnam HVAC Market Size, By Value (USD Billion), 2019–2029; Figure 5 Vietnam HVAC Market Share, By Offering, By Value, 2019–2029; Figure 6 Vietnam HVAC Market Share, By Implementation Type, By Value, 2019–2029; Figure 7 Vietnam HVAC Market Share, By End-User, By Value, 2019–2029
List of Tables: Table 1 Vietnam HVAC Market Size, By Offering, By Value, 2019−2029; Table 2 Vietnam HVAC Market Size, By Implementation Type, By Value, 2019−2029; Table 3 Vietnam HVAC Market Size, By End-User, By Value, 2019−2029; Table 4 Panasonic Vietnam Co Ltd Company Overview; Table 5 Panasonic Vietnam Co Ltd Financial Overview; Table 6 Daikin Air Conditioning Vietnam JSC Company Overview; Table 7 Daikin Air Conditioning Vietnam JSC Financial Overview; Table 8 LG Electronics Vietnam Haiphong Co., Ltd Company Overview; Table 9 LG Electronics Vietnam Haiphong Co., Ltd Financial Overview; Table 10 Toshiba Carrier Vietnam Air Conditioning Co Ltd Company Overview; Table 11 Toshiba Carrier Vietnam Air Conditioning Co Ltd Financial Overview; Table 12 Sharp Electronics (Vietnam) Company Limited Company Overview; Table 13 Sharp Electronics (Vietnam) Company Limited Financial Overview; Table 14 Mitsubishi Electric Vietnam Co Ltd Company Overview; Table 15 Mitsubishi Electric Vietnam Co Ltd Financial Overview; Table 16 Munters Company Overview; Table 17 Munters Financial Overview; Table 18 FUJITSU GENERAL Company Overview; Table 19 FUJITSU GENERAL Financial Overview; Table 20 Nortek Air Solutions Company Overview; Table 21 Nortek Air Solutions Financial Overview