Sweltering heat sandwiched between rising disposable incomes and increasing construction activities will enhance the desirability of air conditioners in Vietnam in coming years.
Vietnam’s climatic conditions differ in every part of its region. This S-shaped country witnesses extreme climatic conditions with scorching summers and freezing winters. This has given rise to the need of technology which can provide some respite to the inhabitants in the wake of these climatic conditions. Air conditioners thus remain to be the answer for sweltering temperatures in summers of Vietnam.
Air conditioners were once considered a luxury product with only elite class opting for it. But with the changing market dynamics and with increasing number of players in the market, the prices have come down making it affordable to the lower income groups as well. Moreover, rising standard of living of people in Vietnam have also contributed to this factor.
According to a recently published report by TechSci Research “Vietnam Air Conditioners Market Forecast & Opportunities, 2017” Vietnam air conditioners market is all set to grow at compounded annual growth rate 7.7% over the next five years. Due to increasing commercial establishments, increasing disposable income and rising temperatures in Vietnam, the market is poised to grow decently to reach US$ 353.41 Million by 2017.
The Vietnam air conditioners market is on the trajectory of many technological innovations too with rising popularity of inverter and portable air conditioners. However, the unorganized market in terms of the illegal imports of air conditioners from countries like China and Cambodia in Vietnam pose a threat to the growth prospects of this market in Vietnam.
Air conditioners are highly susceptible to the climatic changes due to their nature and use. Primarily because of this reason, the Vietnam air conditioners market registered a fall in 2011 majorly because of ‘not so hot summers’ in that year. However, keeping the uncontrollable and abnormal factors aside, the Vietnam air conditioners market is on its growth track once again and is poised to grow consistently.
‘Vietnam Air Conditioners Market Forecast & Opportunities, 2017’ has evaluated the future growth potential of air conditioners market and provides statistics and information on market structure, trends and opportunities. The report includes segmental market projections and demand forecasting. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities available in air conditioners market worldwide.