In comparison with the negative volume growth rate in 2012, refrigeration appliances recorded a noticeable recovery in 2013 with volume growth of 3%. One of the main factors stimulating category growth was the appearance of new innovations and product designs targeting mid to high-end products. Regarding the high-end segment, while LG introduced the "door in door" design which helps optimise food arrangements and saving energy consumption, Samsung delivered the "Twin cooling system" which boosts the cooling function evenly inside the fridge. On the other hand, Haier and Toshiba equip external ice dispensers on some of their new mid-range fridges. For a tropical country like Vietnam where it is hot mostly all year round, such a practical and fashionable function is very attractive to many consumers.
Full Report Details at
- http://www.fastmr.com/prod/854522_refrigeration_appliances_in_vietnam.aspx?afid=301
Competitive Landscape
Haier Electrical Appliances Vietnam Co Ltd led refrigeration appliances with 25% volume share in 2013, followed by Hitachi Asia (Vietnam) Ltd and Sharp Electronics (Vietnam) Co Ltd with respective 15% and 13% volume shares. Haier Electrical Appliances has been deploying rational marketing strategies in order to dominate refrigeration appliances in Vietnam. Its strong brand awareness relies on its prestigious affordable Japanese image, which makes it the best choice for the majority of mid-income consumers. In addition, the company has been wise in utilising existing distribution channels of Sanyo since its refrigeration products' penetration into Vietnam. On the other hand, Hitachi Asia is more popular in the high-mid to high-income segment, resulting in it ranking second followed by Sharp Electronics (Vietnam).
Industry Prospects
Over the forecast period, refrigeration appliances is expected to record a constant value CAGR of 2%. In terms of volume, it is estimated to reach a volume CAGR of 3%. In comparison with the review period with a constant value CAGR of 8% and volume CAGR of 10%, refrigeration appliances' growth is predicted to be dramatically slower over the forecast period. The major reason is because the category is reaching saturation. The possession rate of fridge freezers, the most popular product, is relatively high against other home appliances with a rate of 36% in 2013 and predicted to reach 54% in 2018.
Report Overview
Discover the latest market trends and uncover sources of future market growth for the Refrigeration 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 Refrigeration Appliances industry in Vietnam, our research will save you time and money while empowering you to make informed, profitable decisions.
About Fast Market Research
Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget.
For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.
You may also be interested in these related reports:
- Refrigeration Appliances in Turkey
- Refrigeration Appliances in Romania
- Refrigeration Appliances in Italy
- Refrigeration Appliances in Malaysia
- Refrigeration Appliances in Japan
Recent Study: Refrigeration Appliances in Vietnam
Company: Fast Market Research, Inc.
Contact Name: Bill Thompson
Contact Email: press@fastmr.com
Contact Phone: 1-413-485-7001
Contact Name: Bill Thompson
Contact Email: press@fastmr.com
Contact Phone: 1-413-485-7001