Vietnam: Hvac Equipment Market 2024

Hvac Equipment Market Size in Vietnam

After three years of decline, the Vietnamese HVAC equipment market increased by X% to $X in 2022. Over the period under review, consumption enjoyed strong growth. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Hvac Equipment Production in Vietnam

In value terms, HVAC equipment production reached $X in 2022 estimated in export price. Over the period under review, production, however, showed a prominent increase. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Hvac Equipment Exports

Exports from Vietnam

In 2022, shipments abroad of HVAC equipment decreased by X% to X units for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports, however, showed a buoyant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by X%. Over the period under review, the exports reached the peak figure at X units in 2021, and then contracted sharply in the following year.

In value terms, HVAC equipment exports dropped to $X in 2022. In general, exports, however, continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2020 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2021, and then contracted in the following year.

Exports by Country

The United Arab Emirates (X units) was the main destination for HVAC equipment exports from Vietnam, with a X% share of total exports. It was followed by the United States (X units), with a X% share of total exports. Japan (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United Arab Emirates totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Japan (X% per year).

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for HVAC equipment exports from Vietnam, comprising X% of total exports. The second position in the ranking was held by the United States ($X), with a X% share of total exports. It was followed by Japan, with a X% share.

From 2012 to 2022, the average annual growth rate of value to the United Arab Emirates totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Japan (X% per year).

Export Prices by Country

In 2022, the average HVAC equipment export price amounted to $X per unit, picking up by X% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the average export price increased by X%. The export price peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

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

Hvac Equipment Imports

Imports into Vietnam

In 2022, imports of HVAC equipment into Vietnam rose remarkably to X units, surging by X% on 2021. Over the period under review, imports posted a buoyant expansion. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, HVAC equipment imports totaled $X in 2022. Overall, imports showed a resilient increase. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Imports peaked at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

Thailand (X units), the United Arab Emirates (X units) and Malaysia (X units) were the main suppliers of HVAC equipment imports to Vietnam, with a combined X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest HVAC equipment suppliers to Vietnam were Thailand ($X), Malaysia ($X) and the United Arab Emirates ($X), together accounting for X% of total imports.

In terms of the main suppliers, the United Arab Emirates, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, 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 HVAC equipment import price amounted to $X per unit, remaining constant against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of X% against the previous year. As a result, import price reached the peak level of $X per unit. From 2018 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per unit), while the price for China ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform