Report Update Feb 1, 2025

Vietnam - Thermostats - Market Analysis, Forecast, Size, Trends and Insights

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Vietnam: Thermostat Market 2025

Thermostat Market Size in Vietnam

The Vietnamese thermostat market dropped remarkably to $X in 2021, waning by -69.2% against the previous year. Over the period under review, consumption saw a abrupt shrinkage. Thermostat consumption peaked at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Thermostat Production in Vietnam

In value terms, thermostat production declined notably to $X in 2021 estimated in export price. Over the period under review, production, however, posted resilient growth. The growth pace was the most rapid in 2020 when the production volume increased by 159% against the previous year. Thermostat production peaked at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Thermostat Exports

Exports from Vietnam

In 2021, shipments abroad of thermostats increased by 110% to X units, rising for the fourth year in a row after three years of decline. Over the period under review, exports posted a significant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 165%. The exports peaked in 2021 and are likely to see gradual growth in the near future.

In value terms, thermostat exports soared to $X in 2021. Overall, exports saw a significant expansion. The pace of growth was the most pronounced in 2018 with an increase of 112% against the previous year. The exports peaked in 2021 and are likely to see gradual growth in years to come.

Exports by Country

Japan (X units), Mexico (X units) and Brazil (X units) were the main destinations of thermostat exports from Vietnam, with a combined 69% share of total exports. These countries were followed by Indonesia, Taiwan (Chinese), Hong Kong SAR, Canada, Thailand, the United States and China, which together accounted for a further 26%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Thailand (with a CAGR of +173.4%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Japan ($X) and Mexico ($X) appeared to be the largest markets for thermostat exported from Vietnam worldwide, together accounting for 69% of total exports.

Mexico, with a CAGR of +212.7%, saw the highest rates of growth with regard to 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

The average thermostat export price stood at $X per unit in 2021, reducing by -4.8% against the previous year. Overall, the export price, however, enjoyed buoyant growth. The growth pace was the most rapid in 2016 an increase of 96%. Over the period under review, the average export prices attained the peak figure at $X per unit in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Hong Kong SAR ($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 Mexico (+23.8%), while the prices for the other major destinations experienced more modest paces of growth.

Thermostat Imports

Imports into Vietnam

In 2021, purchases abroad of thermostats increased by 65% to X units for the first time since 2018, thus ending a two-year declining trend. In general, imports saw buoyant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, thermostat imports surged to $X in 2021. Over the period under review, imports showed a prominent increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Italy (X units), China (X units) and France (X units) were the main suppliers of thermostat imports to Vietnam, with a combined 70% share of total imports. These countries were followed by South Korea, Japan, Taiwan (Chinese), Indonesia and the United States, which together accounted for a further 25%.

From 2012 to 2021, the biggest increases were recorded for Indonesia (with a CAGR of +106.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of thermostats to Vietnam, comprising 45% of total imports. The second position in the ranking was held by South Korea ($X), with a 17% share of total imports. It was followed by Japan, with a 12% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to +2.8%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+6.5% per year) and Japan (+12.7% per year).

Import Prices by Country

The average thermostat import price stood at $X per unit in 2021, declining by -6.7% against the previous year. In general, the import price continues to indicate a abrupt slump. The pace of growth appeared the most rapid in 2020 an increase of 18%. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+5.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for thermostats in the world?

The countries with the highest volumes of in 2021 were China, India and Hong Kong SAR, together comprising 42% of global consumption.

What are the largest producers of thermostats in the world?

The country with the largest volume of thermostat production was China, accounting for 38% of total volume. Moreover, thermostat production in China exceeded the figures recorded by the second-largest producer, India, twofold. The third position in this ranking was occupied by Mexico, with a 5.9% share.

What are the leading suppliers of thermostats to Vietnam?

In value terms, the largest thermostat suppliers to Vietnam were China, Japan and South Korea, with a combined 77% share of total imports. These countries were followed by France, Hong Kong SAR, Italy and Indonesia, which together accounted for a further 15%.

What are the leading importers of thermostats from Vietnam?

In value terms, Japan, Mexico and the United States were the largest markets for thermostat exported from Vietnam worldwide, with a combined 63% share of total exports.

What is the average export price for thermostats in Vietnam?

In 2021, the average thermostat export price amounted to $6.3 per unit, increasing by 30% against the previous year.

What is the average import price for thermostats in Vietnam?

In 2021, the average thermostat import price amounted to $2.1 per unit, with an increase of 14% against the previous year.

This report provides an in-depth analysis of the thermostat market in Vietnam. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 26517015 - Electronic thermostats
Prodcom 26517019 - Non-electronic thermostats

Country coverage:

Vietnam

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Vietnam
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2024
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2024
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2024
2. Market Volume, In Physical Terms, 2012–2024
3. Market Value, 2012–2024
4. Per Capita Consumption In 2012-2024
5. Imports, In Physical Terms, By Country, 2012–2024
6. Imports, In Value Terms, By Country, 2012–2024
7. Import Prices, By Country Of Origin, 2012–2024
8. Exports, In Physical Terms, By Country, 2012–2024
9. Exports, In Value Terms, By Country, 2012–2024
10. Export Prices, By Country Of Destination, 2012–2024
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2024
2. Market Value, 2012–2024
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
5. Trade Balance, In Physical Terms, 2012-2024
6. Trade Balance, In Value Terms, 2012-2024
7. Per Capita Consumption, 2012-2024
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2024
22. Production, In Value Terms, 2012–2024
23. Imports, In Physical Terms, 2012–2024
24. Imports, In Value Terms, 2012–2024
25. Imports, In Physical Terms, By Country, 2024
26. Imports, In Physical Terms, By Country, 2012–2024
27. Imports, In Value Terms, By Country, 2012–2024
28. Import Prices, By Country Of Origin, 2012–2024
29. Exports, In Physical Terms, 2012–2024
30. Exports, In Value Terms, 2012–2024
31. Exports, In Physical Terms, By Country, 2024
32. Exports, In Physical Terms, By Country, 2012–2024
33. Exports, In Value Terms, By Country, 2012–2024
34. Export Prices, By Country Of Destination, 2012–2024