2014-08-13 09:06:40 - Fast Market Research recommends "Heating Appliances in Vietnam" from Euromonitor International, now available
In 2013, while heating appliances current value grew by 13%, its growth in terms of volume was only 8%. The main cause driving such a trend was due to the increase in unit price with growth of 4%. Although the inflation rate declined compared with 2012, it still affected the retail prices in general and heating appliance prices in particular. In comparison with the review period, the category demonstrated a deceleration against the average volume growth rate of 22%. The major factor is mainly because fan heaters, the dominant and only product of heating appliances, has a long lifecycle. In addition, it recorded very strong volume growth during the review period; consumers who already own fan heaters are not expected
to buy new ones in such a short period of time.
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Melinh Hypermarket JSC retained its prominent status to lead heating appliances with 32% volume share in 2013, followed by Phu Thai Group with 16% and Saiko Vietnam JSC with 10%. It presents a competitive landscape dominated by big retailers. The remaining volume share was mainly held by cheaper imported products, particularly from China.
Over the forecast period, heating appliances is expected to record a volume CAGR of 6%. Compared to the review period volume CAGR of 22%, the volume CAGR for the forecast period will be much lower. Existing heating appliance users are not expected to buy new ones for the purpose of fashion or functionality. Therefore, the category's future growth depends very much on new users who are still using traditional ways to keep warm during winter. However, this segment mostly belongs to the rural areas where firewood and coal can be easily found with no cost or very cheap prices. As such, heating appliances is expected to slow down over the forecast period.
Discover the latest market trends and uncover sources of future market growth for the Heating Appliances industry in Vietnam with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Heating Appliances industry in Vietnam, our research will save you time and money while empowering you to make informed, profitable decisions.
The Heating Appliances in Vietnam market research report includes:
* Analysis of key supply-side and demand trends
* Detailed segmentation of international and local products
* Historic volumes and values, company and brand market shares
* Five year forecasts of market trends and market growth
* Robust and transparent market research methodology, conducted in-country
Our market research reports answer questions such as:
* What is the market size of Heating Appliances in Vietnam?
* What are the major brands in Vietnam?
* Are central heating units inhibiting potential growth for electric fires?
* Has innovation in panel heaters led to an upturn in fortunes for the category?
Reasons to Get this Report
* Gain competitive intelligence about market leaders
* Track key industry trends, opportunities and threats
* Inform your marketing, brand, strategy and market development, sales and supply functions
Product coverage: Convector Heaters, Electric Blankets, Electric Fires, Fan Heaters, Oil-filled Radiators, Other Heating Appliances, Panel Heaters.
Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.
About Euromonitor International
Euromonitor International is a world leading independent provider of business intelligence on industries, countries and consumers. Their business intelligence products include award-winning online information databases, market reports and business reference books. Founded in 1972, Euromonitor International is a privately owned company with offices in London, Chicago, Singapore, Shanghai and Vilnius. Euromonitor has a team of over 600 in-country analysts worldwide, giving them a unique capability to deliver high quality and reliable business information. View more research from Euromonitor International at www.fastmr.com/catalog/publishers.aspx?pubid=1009
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