DUBLIN--(BUSINESS WIRE)--The "Vietnam Residential Electric Water Pump Market, by Well Type (Shallow Well, Deep Well), by Pump Type, by Function Type (Automatic, Non-Automatic) by Power Rating, by Price Range, by Region, Competition, Forecast & Opportunities, 2025" report has been added to ResearchAndMarkets.com's offering.
The Vietnamese Residential Electric Water Pump Market is projected to surpass $ 140 million by 2025 on account of rising demand for water in residential sector and increasing disposal income.
Moreover, the demand for residential pumps is anticipated to increase because of rising population and shifting of population from rural to urban areas, with currently around 37% of the Vietnamese population living in urban areas. Moreover, the demand for these pumps is increasing in Vietnam because of extended dry periods, due to which, people are using water pumps to get water for meeting their daily requirements.
The demand for residential electric water pumps is expected to decline in 2020 compared to what it was in 2019 by almost 18%, owing to decline in consumer spending and lockdown due to COVID-19.
In addition to it, the demand is expected to grow in coming years because of increase in job opportunities in the country as major players Like Apple, Microsoft and Google are planning to shift their production lines from China to Vietnam due to proximity to Shenzhen (China's Manufacturing Hub), thus helping the organizations to smoothly route their manufacturing units.
Moreover, Vietnam's currency is more stable due to their improved monetary policy and the country has pegged their currency directly with USD through Crawling Peg System. All these factors are anticipated to boost the economy and create new job opportunities, which will help in providing better spending power and improve livelihood of people, thus resulting in an overall increase in the demand for residential electric water pumps in the coming years.
In 2020, the market for residential electric water pumps in Vietnam is anticipated to reach USD102 million and is expected to gradually increase from 2021 onwards, owing to stable economic conditions that are expected, after the effects of pandemic COVID-19 are over.
The Vietnamese Residential Electric Water Pump Market is segmented based on type of well, function, pumps, power rating base, price range, company and region. Based on well type, the market can be segmented into shallow well, deep well. Among these, shallow well is expected to hold the largest market share during the forecast period.
Based on function the market is segmented into automatic, non-automatic. Among these, automatic pump is expected to hold major share until 2025.
Regionally, the Vietnamese Residential Electric Water Pump Market has been segmented into Northern Vietnam, Southern Vietnam and Central Vietnam, among which, Northern Vietnam is expected to hold a major share in the market owing to the rising population and elevated demand for residential electric water pumps in the region.
Major players operating in the Vietnamese Residential Electric Water Pump Market include Panasonic Malaysia Sdn Bhd, Hitachi Home Electronics Vietnam, Mitsubishi Electric Corporation, Shimizu Corporation, Wilo Vietnam Co. Ltd, Ebara Vietnam Pump Company Limited, Pentax Industries S.P.A, Iwaki Co., Ltd and others.
Years considered for this report:
- Historical Years: 2015-2018
- Base Year: 2019
- Estimated Year: 2020
- Forecast Period: 2021-2025
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Impact of COVID-19 on Vietnam Residential Electric Water Pump Market
4. Executive Summary
5. Voice of Customer
6. Vietnam Residential Electric Water Pump Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value & Volume
6.2. Market Share & Forecast
6.2.1. By Well Type (Shallow Well, Deep Well)
6.2.2. By Pump Type (Submersible Pump, Cascade Pump, Turbine Pump, Centrifugal Pump, Turbine Pump with Jet)
6.2.3. By Function Type (Automatic & Non-Automatic)
6.2.4. By Power Rating (Up to 0.25 HP, 0.25-0.5 HP, 0.5 HP-1 HP, 1 HP-1.5 HP, Above 1.5 HP)
6.2.5. By Price Range (Economy (Up to USD125, Medium (126-300 USD, High (USD301-500), Premium (Above 500 USD)
6.2.6. By Company (2019)
6.2.7. By Region
6.3. Market Attractiveness Index
7. Northern Vietnam Residential Electric Water Pump Market Outlook
8. Southern Vietnam Residential Electric Water Pump Market Outlook
9. Central Vietnam Residential Electric Water Pump Market Outlook
10. Market Dynamics
11. Market Trends & Developments
12. Pricing Analysis (By Brand and By Power Rating)
13. Competitive Landscape
13.1. Mitsubishi Electric Corporation
13.2. Shimizu Corporation
13.3. WILO Vietnam Co. Ltd
13.4. Panasonic Malaysia Sdn Bhd
13.5. Hitachi Home Electronics Vietnam
13.6. EBARA Vietnam Pump Company Limited
13.7. Pentax Industries S.p.A
13.8. IWAKI CO., LTD
13.9. Grundfos Vietnam Co., Ltd
13.10. KSB Vietnam Co., Ltd
14. Strategic Recommendations
For more information about this report visit https://www.researchandmarkets.com/r/caay5a