Vietnam: Air Conditioning Machine Market 2024

Air Conditioning Machine Market Size in Vietnam

After three years of growth, the Vietnamese air conditioning machine market decreased by -18.1% to $X in 2021. Over the period under review, consumption, however, posted a buoyant increase. Air conditioning machine consumption peaked at $X in 2020, and then fell dramatically in the following year.

Air Conditioning Machine Production in Vietnam

In value terms, air conditioning machine production expanded modestly to $X in 2021 estimated in export price. Overall, production, however, saw a buoyant increase. The most prominent rate of growth was recorded in 2018 when the production volume increased by 44%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Air Conditioning Machine Exports

Exports from Vietnam

In 2021, overseas shipments of air conditioning machines increased by 70% to X units for the first time since 2016, thus ending a four-year declining trend. Over the period under review, exports, however, showed a deep setback. Over the period under review, the exports reached the maximum at X units in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

In value terms, air conditioning machine exports skyrocketed to $X in 2021. In general, exports, however, saw a abrupt setback. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Taiwan (Chinese) (X units) was the main destination for air conditioning machine exports from Vietnam, accounting for a 46% share of total exports. Moreover, air conditioning machine exports to Taiwan (Chinese) exceeded the volume sent to the second major destination, Lao People's Democratic Republic (X units), threefold. Cambodia (X units) ranked third in terms of total exports with a 9.3% share.

From 2012 to 2021, the average annual growth rate of volume to Taiwan (Chinese) amounted to +268,600.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lao People's Democratic Republic (+8.6% per year) and Cambodia (+18.0% per year).

In value terms, Taiwan (Chinese) ($X) emerged as the key foreign market for air conditioning machine exports from Vietnam, comprising 56% of total exports. The second position in the ranking was taken by Lao People's Democratic Republic ($X), with a 12% share of total exports. It was followed by Cambodia, with an 8.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Taiwan (Chinese) amounted to +382.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lao People's Democratic Republic (+3.6% per year) and Cambodia (+16.4% per year).

Export Prices by Country

The average air conditioning machine export price stood at $X per unit in 2021, therefore, remained relatively stable against the previous year. Overall, export price indicated a tangible expansion from 2012 to 2021: its price increased at an average annual rate of +2.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, air conditioning machine export price increased by +102.1% against 2016 indices. The pace of growth appeared the most rapid in 2017 when the average export price increased by 35%. The export price peaked at $X per unit in 2020, and then reduced slightly in the following year.

Prices varied noticeably country of destination: the country with the highest price was Indonesia ($X per unit), while the average price for exports to Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Australia (+20.4%), while the prices for the other major destinations experienced more modest paces of growth.

Air Conditioning Machine Imports

Imports into Vietnam

In 2021, overseas purchases of air conditioning machines decreased by -7.9% to X units, falling for the second year in a row after two years of growth. Overall, imports, however, recorded a remarkable increase. The most prominent rate of growth was recorded in 2015 with an increase of 43%. Imports peaked at X units in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, air conditioning machine imports dropped notably to $X in 2021. In general, imports, however, saw a resilient expansion. The pace of growth appeared the most rapid in 2013 when imports increased by 46% against the previous year. Over the period under review, imports hit record highs at $X in 2020, and then shrank sharply in the following year.

Imports by Country

Malaysia (X units), Thailand (X units) and China (X units) were the main suppliers of air conditioning machine imports to Vietnam, together comprising 97% of total imports.

From 2012 to 2021, the biggest increases were in Thailand (with a CAGR of +15.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X) constituted the largest supplier of air conditioning machine to Vietnam, comprising 58% of total imports. The second position in the ranking was held by Malaysia ($X), with a 24% share of total imports. It was followed by China, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Thailand amounted to +14.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+13.0% per year) and China (+9.2% per year).

Import Prices by Country

The average air conditioning machine import price stood at $X per unit in 2021, dropping by -13.7% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average import price increased by 27% against the previous year. As a result, import price reached the peak level of $X per unit. From 2018 to 2021, the average import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was South Korea ($X per unit), while the price for Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+6.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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