Vietnam Process Boiler and Heating Equipment Market By Type (Steam Boiler, Thermic Fluid Heater, Hot Water Generator, Hot Air Generator & Waste Heat Recovery Boilers), By Fuel Type (Fossil Fuel, Oil & Gas & Non Fossil Fuel) Competition, Forecast & Opportunities, 2026

Vietnam process boiler and heating equipment market was valued at around USD20 million in 2019 and is projected to grow at a CAGR of around 4% during 2021-2026 on account of availability of cheaper fuel like coal, growing foreign direct investments in the processing industries and a stable economic growth. Electricity consumption in the country has tripled over the historical years in Vietnam that influenced the rapid growth and industrialization of the country in turn influencing the growth in the market. Moreover, government incentivizing the investors with lower tax rates to promote investments in food processing sector and lowering the cost of doing business is further anticipated to spur demand for process boilers and heating equipment across the country during forecast period.

Vietnam process boiler and heating equipment market is segmented by type, fuel type, and region. Based on fuel type, the market is further categorized into oil and gas, fossil fuel, and non-fossil fuel. Coal as a fossil fuel resources for the 50% of energy supply in the country which reasons for the domination of fossil fuel on the other market sub-segments. Based on regional analysis, southern part of the country sees increased number of industries thus, influencing the market toward its growth.

Some of the major companies operating in Vietnam process boiler and heating equipment market include Martech Co. Ltd. VN., Vietnam Boiler Joint Stock Company, Dinh Viet Energy Limited, Thang Long CFB and Forbes Marshall, Thermax Ltd., Henan Yuanda Boiler Corporation Ltd., Zozen Boiler Co., Ltd., Classen Apparatebau Wiesloch GmbH, Viessmann Group, among others.

Years considered for this report:

Historical Years: 2016-2019

Base Year: 2020

Estimated Year: 2021

Forecast Period: 2022-2026

Objective of the Study:

·         To analyze and forecast the Vietnam process boiler and heating equipment market size.

·         To define, classify and forecast the Vietnam process boiler and heating equipment market based on type and fuel type.

·         To identify drivers and challenges for Vietnam process boiler and heating equipment market.

·         To examine competitive developments such as expansions, new product launches, supply contracts, and mergers & acquisitions in the Vietnam process boiler and heating equipment market.

·         To evaluate product pricing and trends in Vietnam process boiler and heating equipment market.

·         To strategically profile leading players operating in Vietnam process boiler and heating equipment market.

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TechSci Research performed primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of process boiler and heating equipment manufacturers and suppliers, in Vietnam. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research was able to include manufacturers that could not be identified due to the limitations of secondary research. TechSci Research analyzed product offerings, end user, and regional presence of all major process boiler and heating equipment manufacturing companies across Vietnam.

TechSci Research calculated the Vietnam process boiler and heating equipment market size by using a bottom-up approach, wherein manufacturers’ value sales data for different engine types was recorded as well as forecast for the future years was made. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.

Key Target Audience:

• Vietnam process boiler and heating equipment manufacturers, suppliers and end users
• Research organizations and consulting companies
• Associations, organizations and alliances related to process boiler and heating equipment
• Government bodies such as regulating authorities and policy makers

The study is useful in providing answers to several critical questions that are important for industry stakeholders, such as process boiler and heating equipment manufacturers, distributors, dealers and policy makers. The study would also help them in identifying which market segments should be targeted over the coming years in order to strategize investments and capitalize on growth of the market.

Report Scope:

In this report, Vietnam process boiler and heating equipment market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

• Market, by Type:
• Steam Boiler
• Thermic Fluid Heater
• Hot Water Generator
• Hot Air Generator
• Waste Heat Recovery Boilers
• Market, by Fuel Type:
• Fossil Fuel
• Oil & Gas
• Non-Fossil Fuel (Biomass, Wood, Rice Husk, Mustard Husk, Agri Waste, Briquettes, etc.)

• Market, by Region:

• South
• Central
• North

Competitive Landscape

Competition Outlook: Outlook of leading 10 players on the basis of product portfolio, market pricing, average selling price, sales footprint, etc.

Company Profiles: Detailed analysis of the major companies operating in Vietnam process boiler and heating equipment market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Channel Partner Analysis

• Detailed list of distributors and dealers across the country.

Company Information

• Detailed analysis and profiling of additional market players (up to five).

Product Information

• Detailed analysis of new products in the market and their driving forces in the market.