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.
Vietnam Water Heater Market Driver:
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.
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Key Market Reports Highlights
- Market Dimensions & Projections
- Pricing Evaluation
- Recent Strategic Moves by Companies
- Primary Stakeholders
- Import/Export Trend Analysis
- Competitive Landscape Assessment
- Emerging Opportunities
- Market Trends and Indicators
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Vietnam Water Heater Market Segmentation:
The market report categorizes the market based on different segments and geographical analysis.
Study Timeline:
-Base Year: 2023
-Historical Period: 2019 to 2022
-Forecast Period: 2024 to 2030
- 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)
- By Region
- North
- South
- Central
Competitive Landscape
With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including – 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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