Vietnam: Market for Air conditioning Machines without Refrigeration Unit 2024

Market Size for Air conditioning Machines without Refrigeration Unit in Vietnam

The Vietnamese market for air conditioning machines without refrigeration unit shrank to $X in 2022, which is down by -13.4% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption showed a deep slump. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Exports of Air conditioning Machines without Refrigeration Unit

Exports from Vietnam

In 2022, overseas shipments of air conditioning machines without refrigeration unit were finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. In general, exports, however, continue to indicate a abrupt downturn. The pace of growth appeared the most rapid in 2018 with an increase of 232% against the previous year. Over the period under review, the exports of reached the maximum at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, exports of air conditioning machines without refrigeration unit soared to $X in 2022. Overall, exports, however, recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 when exports increased by 247%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Italy (X units), China (X units) and Cambodia (X units) were the main destinations of exports of air conditioning machines without refrigeration unit from Vietnam, together accounting for 72% of total exports. Lao People's Democratic Republic, the Philippines and the Netherlands lagged somewhat behind, together accounting for a further 25%.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +71.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for air conditioning machins without refrigeration unit exported from Vietnam were Cambodia ($X), China ($X) and Lao People's Democratic Republic ($X), together accounting for 67% of total exports. Italy, the Netherlands, the Philippines, Singapore and Sweden lagged somewhat behind, together accounting for a further 29%.

The Netherlands, with a CAGR of +64.5%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average export price for air conditioning machines without refrigeration unit amounted to $X per unit, approximately reflecting the previous year. Over the last decade, it increased at an average annual rate of +1.0%. The pace of growth appeared the most rapid in 2019 when the average export price increased by 40% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Sweden ($X per unit), while the average price for exports to Italy ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+15.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Air conditioning Machines without Refrigeration Unit

Imports into Vietnam

In 2022, the amount of air conditioning machines without refrigeration unit imported into Vietnam declined to X units, which is down by -11.3% on 2021 figures. Overall, imports showed a abrupt slump. The most prominent rate of growth was recorded in 2016 with an increase of 52% against the previous year. Imports peaked at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, imports of air conditioning machines without refrigeration unit dropped to $X in 2022. In general, imports continue to indicate a abrupt setback. The pace of growth appeared the most rapid in 2016 when imports increased by 46%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest supplier of air conditioning machins without refrigeration unit to Vietnam, accounting for a 60% share of total imports. Moreover, imports of air conditioning machines without refrigeration unit from China exceeded the figures recorded by the second-largest supplier, Malaysia (X units), fourfold. Hungary (X units) ranked third in terms of total imports with an 8.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +16.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-14.1% per year) and Hungary (+2.1% per year).

In value terms, China ($X) constituted the largest supplier of air conditioning machines without refrigeration unit to Vietnam, comprising 60% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 16% share of total imports. It was followed by South Korea, with a 6.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +9.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-12.3% per year) and South Korea (+20.2% per year).

Import Prices by Country

In 2022, the average import price for air conditioning machines without refrigeration unit amounted to $X per unit, remaining stable against the previous year. In general, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the average import price increased by 17%. Over the period under review, average import prices reached the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per unit), while the price for Hungary ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+9.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform