Unlocking Vietnam’s Water Heater Market: Professional Insights & Forecast 2025–2032

Vietnam Water Heater Market Statistics:

Market Size in 2025: USD 276.21 million

Market Size in 2032: USD 781.21 million
Market Growth Rate 2025-2032: CAGR 16.20% 
According to The Report Cube’s latest research study Vietnam Water Heater Market reached a value of nearly USD 276.21 million in 2025. The market is assessed to grow at a CAGR of around 16.20%, during the forecast period of 2025-2032 to attain a value of around USD 781.21 million in 2032.

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Vietnam Water Heater Market Drivers:

• Increasing Adoption of Energy-efficient Water Heaters to Drive Industry Growth

The constant upgrade in electricity & gas prices in Vietnam has amplified customer interest in energy-efficient water heating solutions. This is specifically apparent in urban areas where utility expenses represent a substantial share of household expenses. Individuals are progressively calculating the lifetime operational expenses of water heaters rather than concentrating especially on purchase costs. Moreover, manufacturers have responded by developing water heaters with high energy efficacy ratings, heat recovery systems, and programmable features that enhance energy intake. Also, government energy-efficiency labeling programs for water heaters have further spread awareness among the people about long-term savings potential, solidifying the Vietnam Water Heater Market's demand for premium energy-saving water heater models.

According to the report, prominent players operating in the market include:

·       Rheem Manufacturing Company

·       AO. Smith Corporation

·       Electrolux Vietnam Co. Ltd.

·       Ariston Thermo Group

·       Rinnai Vietnam Co.Ltd.

·       Noritz Corporation

·       Ferroli S.P.A

·       Bosch Thermotechnology

·       Picenza Vietnam Production

·       Trading Company Ltd.

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Key Market Segmentation

o   Market Share, By Product Type

o   Electric Water Heaters

o   Solar Water Heaters

o   Gas Water Heaters

o   Others (Oil water heaters, Heat pump water heaters, Hybrid water heaters, etc.)

o   Market Share, By Pricing Model

o   Premium Water Heaters

o   Mid-Range Water Heaters

o   Economy Water Heaters

o   Market Share, By End User

o   Residential

o   Commercial/Industrial

Recent News and Developments in Vietnam Water Heater Market

• Rheem Manufacturing Company introduced its ProTerra™ hybrid electric water heater series in Vietnam, presenting energy-efficient heat pump technology with smart home integration capabilities.
• AO. Smith expanded its manufacturing facility in Binh Duong Province, aggregating production capacity by nearly 40% to meet rising domestic & export demands for high-efficiency water heaters.

About The Report Cube

The Vietnam Water Heater Market Research Report highlights the forecast growth rate or The Report Cube is the largest marketplace in UAE for research reports, delivering insightful data to empower more informed decisions. As a trusted market research and consulting firm, we provide syndicated reports, customized research solutions, and global market intelligence across 800+ industries.

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