Vietnam Air Conditioners Market Set to Grow at 14% Till 2021: TechSci Research Report
NEW YORK, January 16, 2017 /PRNewswire/ --
Increasing commercialization, growing investments in industrial sector and mounting disposable income to drive the Vietnam air conditioners market during the forecast period
According to TechSci Research report, "Vietnam Air Conditioners Market By Product Type, By End Use Sector, Competition Forecast and Opportunities, 2011-2021", market for air conditioners in Vietnam is forecast to grow at a CAGR of 14.64%, during 2016-2021. The major factors contributing to rising demand for air conditioners in Vietnam are the extreme climatic conditions, growth in overall construction market, increasing disposable income and changing lifestyle of middle-class population. During 2011-2015, number of foreign tourists arriving in Vietnam increased at a CAGR of 17.41%. Increasing travel & tourism activities in Vietnam have also resulted in augmented demand for air conditioners from hotels, air ports and other commercial areas. During 2016-2021, construction market in Vietnam is expected to grow at a CAGR of 19.88%, consequently boosting the demand for air conditioners in Vietnam from the commercial segment.
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Browse 6 market data Tables and 33 Figures spread through 97 Pages and an in-depth TOC on
"Vietnam Air Conditioners Market "
Split air conditioners accounted for the largest share in Vietnam air conditioners market in 2015, on the back of various features such as less operating noise, effectiveness in extreme climate conditions, integration of latest technologies and comparatively higher energy efficiency. On the back of increasing population base, and growing number of household units, residential sector dominated the market for air conditioners in Vietnam, followed by commercial and industrial sectors. On the back of largescale infrastructure development and business activities coupled with increasing population, South Vietnam region accounted for the largest revenue share in Vietnam air conditioners market in 2015, followed by North and Central Vietnam.
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"On the back of rising per capita income, changing consumer lifestyle and extreme hot and humid climatic conditions prevailing for most part of a year, demand for air conditioners in Vietnam is expected to increase during the forecast period. In addition, increasing investments being made by the government in the country's residential and commercial sectors, and growing demand for energy efficient air conditioners are anticipated to drive demand for air conditioners in Vietnam during the forecast period" said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
"Vietnam Air Conditioners Market By Product Type, By End Use Sector, Competition Forecast and Opportunities, 2011-2021" has evaluated the future growth potential of Vietnam air conditioners market and provides statistics and information on market structure, size, share and trends prevailing in Vietnam air conditioners market. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyses emerging trends along with essential drivers, challenges, and opportunities in Vietnam air conditioners market.
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