Vietnam: Market for Central Heating Boilers, For Producing Hot Water Or Low Pressure Steam 2025

Market Size for Central Heating Boilers, For Producing Hot Water Or Low Pressure Steam in Vietnam

The Vietnamese market for central heating boilers, for producing hot water or low pressure steam rose modestly to $X in 2022, growing by 3.5% against the previous year. Overall, the total consumption indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -3.3% against 2020 indices. Consumption of peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Production of Central Heating Boilers, For Producing Hot Water Or Low Pressure Steam in Vietnam

In value terms, production of central heating boilers, for producing hot water or low pressure steam rose modestly to $X in 2022 estimated in export price. Over the period under review, the total production indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -3.5% against 2020 indices. The pace of growth appeared the most rapid in 2016 when the production volume increased by 41%. Production of peaked at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Exports of Central Heating Boilers, For Producing Hot Water Or Low Pressure Steam

Exports from Vietnam

In 2022, exports of central heating boilers, for producing hot water or low pressure steam from Vietnam surged to X units, growing by 62% against the year before. Overall, exports, however, showed a abrupt setback. The most prominent rate of growth was recorded in 2014 with an increase of 150%. Over the period under review, the exports of reached the peak figure at X units in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of central heating boilers, for producing hot water or low pressure steam soared to $X in 2022. Over the period under review, exports, however, showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2014 with an increase of 185% against the previous year. Over the period under review, the exports of hit record highs at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Indonesia (X units) was the main destination for exports of central heating boilers, for producing hot water or low pressure steam from Vietnam, with a 51% share of total exports. Moreover, exports of central heating boilers, for producing hot water or low pressure steam to Indonesia exceeded the volume sent to the second major destination, Australia (X units), threefold. The third position in this ranking was taken by Cambodia (X units), with a 13% share.

From 2012 to 2022, the average annual growth rate of volume to Indonesia amounted to +56.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+6.9% per year) and Cambodia (-0.7% per year).

In value terms, Australia ($X), Indonesia ($X) and the Philippines ($X) constituted the largest markets for central heating boilers, for producing hot water or low pressure steam exported from Vietnam worldwide, with a combined 66% share of total exports.

Indonesia, with a CAGR of +79.3%, saw the highest growth rate of the value of exports, among 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

The average export price for central heating boilers, for producing hot water or low pressure steam stood at $X per unit in 2022, surging by 13% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.0%. The most prominent rate of growth was recorded in 2020 an increase of 15% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2021 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Myanmar ($X per unit), while the average price for exports to Indonesia ($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 Australia (+14.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Central Heating Boilers, For Producing Hot Water Or Low Pressure Steam

Imports into Vietnam

In 2022, imports of central heating boilers, for producing hot water or low pressure steam into Vietnam totaled X units, increasing by 6.4% compared with the year before. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 229% against the previous year. Over the period under review, imports of hit record highs at X units in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, imports of central heating boilers, for producing hot water or low pressure steam soared to $X in 2022. Over the period under review, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by 171% against the previous year. Imports peaked at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X units), Indonesia (X units) and Thailand (X units) were the main suppliers of imports of central heating boilers, for producing hot water or low pressure steam to Vietnam, together comprising 69% of total imports. These countries were followed by the UK, South Korea, Japan, Norway, Malaysia, India, Taiwan (Chinese) and Germany, which together accounted for a further 23%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Norway (with a CAGR of +26.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Indonesia ($X) and Thailand ($X) constituted the largest central heating boilers, for producing hot water or low pressure steam suppliers to Vietnam, with a combined 55% share of total imports. The UK, Norway, South Korea, Japan, Malaysia, India, Taiwan (Chinese) and Germany lagged somewhat behind, together accounting for a further 26%.

Norway, with a CAGR of +21.8%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for central heating boilers, for producing hot water or low pressure steam amounted to $X per unit, increasing by 12% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the average import price increased by 24% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2016; however, from 2017 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 Norway ($X per unit), while the price for Germany ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+7.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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