The recent analytical report published by Markntel Advisors (a leading consulting, data analytics, and market research firm), Vietnam Water Heater Market comprises a detailed study of critical and major aspects of market dynamics, i.e. market trends, size, forecasts, growth factors, challenges, and competitor landscape.
In-Depth Market Overview of Vietnam Water Heater Industry (2024-2030):
According to the latest report, TheVietnam Water Heater Market size is estimated to grow at a CAGR of around 9.27% during the forecast period, i.e., 2024-30. The report demonstrates the prominent factors propelling the exponential growth of the Vietnam Water Heater industry.
Key Takeaways: Beneficial for Stakeholders and Clients:
- Historical Data: 2019-22
- Base Year: 2023
- Forecast Period: 2024-30
- CAGR: 9.27%
What are the major Challenge facing the Vietnam Water Heater industry?
High Costs Associated with the Maintenance of Water Heaters to Restrain Market Growth – The country’s diverse geographical and climatic conditions lead to varying levels of wear and tear on water heater components, necessitating frequent repairs and replacements. Moreover, the quality of water sources varies across different regions, with hard water prevalent in many areas. The minerals present in hard water can cause scaling and corrosion within water heaters, requiring costly maintenance procedures to address these issues.
Moreover, inadequate water treatment infrastructure in certain regions may result in sediment buildup and bacterial growth, further increasing maintenance requirements. Additionally, the scarcity of skilled technicians and specialized equipment for repairing and servicing water heaters can drive up service costs. The middle-class population in the country might become skeptical about the adoption of water heaters owing to regular maintenance and high service costs restraining the adoption of water heaters. Furthermore, the lack of awareness among consumers about regular maintenance practices may exacerbate problems, leading to more significant repair expenses over time and impeding the adoption and growth of the Vietnam Water Heater Market.
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Vietnam Water Heater Market Segmentation
The Vietnam Water Heater Market analysis of Markntel Advisors explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic. The further bifurcations are as follows:
- 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
As per the regional aspect, the Vietnam Water Heater Market is expected to be dominated by North America by capturing the potential market share.
Explore further details about this research report – https://www.marknteladvisors.com/research-library/vietnam-water-heater-market.html
Top Companies in the 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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