Vietnam: Market for Window or Wall Air Conditioning Systems, Self-Contained or Split-Systems 2024

Market Size for Window or Wall Air Conditioning Systems, Self-Contained or Split-Systems in Vietnam

The Vietnamese market for window or wall air conditioning systems, self-contained or split-systems expanded markedly to $X in 2022, rising by 13% 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 continues to indicate a buoyant increase. Consumption of peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Exports of Window or Wall Air Conditioning Systems, Self-Contained or Split-Systems

Exports from Vietnam

In 2022, the amount of window or wall air conditioning systems, self-contained or split-systems exported from Vietnam dropped rapidly to X units, reducing by -26.9% compared with 2021. In general, exports saw a dramatic descent. The pace of growth appeared the most rapid in 2021 with an increase of 117% against the previous year. The exports peaked at X units in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of window or wall air conditioning systems, self-contained or split-systems fell notably to $X in 2022. Over the period under review, exports saw a deep setback. The pace of growth was the most pronounced in 2021 with an increase of 124% against the previous year. Over the period under review, the exports of reached the peak figure at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units) was the main destination for exports of window or wall air conditioning systems, self-contained or split-systems from Vietnam, with a 71% share of total exports. Moreover, exports of window or wall air conditioning systems, self-contained or split-systems to the United States exceeded the volume sent to the second major destination, the UK (X units), fivefold. The third position in this ranking was held by India (X units), with a 7.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled +45.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (0.0% per year) and India (+4.0% per year).

In value terms, the United States ($X) emerged as the key foreign market for window or wall air conditioning systems, self-contained or split-systems exports from Vietnam, comprising 65% of total exports. The second position in the ranking was held by the UK ($X), with a 15% share of total exports. It was followed by the Philippines, with a 5.3% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +40.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (0.0% per year) and the Philippines (-28.4% per year).

Export Prices by Country

In 2022, the average export price for window or wall air conditioning systems, self-contained or split-systems amounted to $X per unit, remaining constant against the previous year. In general, the export price, however, continues to indicate a temperate expansion. The most prominent rate of growth was recorded in 2018 when the average export price increased by 38%. Over the period under review, the average export prices reached the maximum at $X per unit in 2021, and then contracted modestly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Philippines ($X per unit), while the average price for exports to India ($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 Malaysia (+20.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Window or Wall Air Conditioning Systems, Self-Contained or Split-Systems

Imports into Vietnam

In 2022, supplies from abroad of window or wall air conditioning systems, self-contained or split-systems increased by 36% to X units for the first time since 2019, thus ending a two-year declining trend. In general, imports recorded resilient growth. The most prominent rate of growth was recorded in 2015 when imports increased by 45% against the previous year. Imports peaked in 2022 and are likely to continue growth in years to come.

In value terms, imports of window or wall air conditioning systems, self-contained or split-systems reached $X in 2022. Over the period under review, imports enjoyed resilient growth. The most prominent rate of growth was recorded in 2013 with an increase of 43%. Imports peaked at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of window, wall, or split air conditioning system to Vietnam, with a 79% share of total imports. Moreover, imports of window or wall air conditioning systems, self-contained or split-systems from China exceeded the figures recorded by the second-largest supplier, South Korea (X units), sevenfold.

From 2012 to 2022, the average annual growth rate of volume from China totaled +30.7%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+51.9% per year) and Singapore (+15.9% per year).

In value terms, China ($X) constituted the largest supplier of window or wall air conditioning systems, self-contained or split-systems to Vietnam, comprising 71% of total imports. The second position in the ranking was taken by South Korea ($X), with a 16% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +31.8%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+49.1% per year) and Singapore (+15.6% per year).

Import Prices by Country

The average import price for window or wall air conditioning systems, self-contained or split-systems stood at $X per unit in 2022, which is down by -20.2% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of 29% 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 failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+3.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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