Vietnam Water Heater Market Size & Insights
As per recent study by MarkNtel Advisors The Vietnam Water Heater Market size is estimated to grow at a CAGR of around 9.27% during the forecast period, i.e., 2024-30.
What are the Key DROs in the Vietnam Water Heater Market?
Growing Demand for Water Heaters in Healthcare Facilities to Drive Market Growth – Increasing investments in healthcare infrastructure, coupled with government initiatives to improve access to quality healthcare services, are fueling the sector’s expansion. The rising middle-class population with higher disposable incomes is demanding better healthcare facilities and services, driving private sector investment in hospitals, clinics, and specialized treatment centers. Moreover, advancements in medical technology and pharmaceuticals are enhancing the quality of healthcare delivery, attracting both domestic and international patients seeking advanced treatments. Government policies aimed at strengthening the healthcare workforce through training programs and incentives are addressing staffing shortages and improving the overall quality of care. Additionally, the aging population and changing disease profiles, including the rising prevalence of non-communicable diseases, are driving demand for healthcare services. For Instance,
- In 2022, according to the WHO, non-communicable diseases (NCDs) are an increased mortality and morbidity burden that accounts for approximately 74% of total deaths in Vietnam.
As healthcare facilities expand to accommodate the increasing demand for medical services, there is a parallel rise in the need for hot water for sterilization, sanitation, and patient care purposes. Hospitals, clinics, and other healthcare institutions require reliable water heaters to ensure cleanliness and hygiene standards are maintained, driving the demand for water heaters in this sector and propelling market growth & development.
What are the Key Segments in the Vietnam Water Heater Market?
The Vietnam Water Heater is categorized into notable segments, which help in understanding the structure, dynamics, and opportunities within the market. These segments are typically based on:
- By Product Type
- Electric- Market Size & Forecast 2019-2030 (Thousand Units)
- Solar- Market Size & Forecast 2019-2030 (Thousand Units)
- Gas- Market Size & Forecast 2019-2030 (Thousand Units)
- Others (Oil, Heat Pump, Hybrid, etc.) – Market Size & Forecast 2019-2030 (Thousand Units)
- By Storage Capacity
- Below 30 Liters- Market Size & Forecast 2019-2030 (Thousand Units)
- 31-50 Liters- Market Size & Forecast 2019-2030 (Thousand Units)
- 51-150 Liters – Market Size & Forecast 2019-2030 (Thousand Units)
- 151-250 Liters- Market Size & Forecast 2019-2030 (Thousand Units)
- 251-400 Liters- Market Size & Forecast 2019-2030 (Thousand Units)
- Above 400 Liters- Market Size & Forecast 2019-2030 (Thousand Units)
- By Distribution Channel
- Direct Sales- Market Size & Forecast 2019-2030 (Thousand Units)
- Supermarket/Hypermarket- Market Size & Forecast 2019-2030 (Thousand Units)
- Online- Market Size & Forecast 2019-2030 (Thousand Units)
- Others (Exclusive Stores, Wholesales, etc.)- Market Size & Forecast 2019-2030 (Thousand Units)
- By End User
- Residential- Market Size & Forecast 2019-2030 (Thousand Units)
- Commercial- Market Size & Forecast 2019-2030 (Thousand Units)
- Industrial- Market Size & Forecast 2019-2030 (Thousand Units)
- By Storage Type
- Tankless- Market Size & Forecast 2019-2030 (Thousand Units)
- Storage Tank- Market Size & Forecast 2019-2030 (Thousand Units)
- Hybrid- Market Size & Forecast 2019-2030 (Thousand Units)
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Who are the Key Players in Vietnam Water Heater Market?
Rheem Manufacturing Company, A. O. Smith Corporation, Electrolux Vietnam Co. Ltd., Ariston Thermo Group, Rinnai Vietnam Co., Ltd., Noritz Corporation, Ferroli S.P.A, Bosch Thermotechnology, Picenza Vietnam Production And Trading Company Ltd., Eemax Inc., Others
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Vietnam Water Heater Market News
- 2023: MobiFone, a telecommunication company, partnered with Radian ARC and Blacknut company to launch a cloud gaming platform for tablets, smartphones, and PCs. The games were accessible via Radian Arc’s AMD-based GPU Edge technology and Blacknut’s streaming technology, which utilizes MobiFone’s 4G and 5G network coverage.
- 2023: Google Cloud and VNG Games collaborated in the year 2023. The VNG Games harness Google Cloud’s infrastructure to revolutionize the real-time player’s experience, which would help in the growth of cloud games in the country.Â
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Why This MarkNtel Advisors Research Report:
- In-depth Market Analysis: Understand trends and dynamics shaping growth.
- Segmented Insights: Target specific segments for focused strategies.
- Geographical Performance: Assess market opportunities by geographic area.
- Emerging Technologies: Discover advancements like AI integration.
- Risk Identification: Pinpoint challenges to inform strategic planning.
- Future Forecasts: Prepare for market changes with actionable projections.
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