Boston, MA -- (ReleaseWire) -- 08/04/2014 -- Dishwashers grew by 9% in volume terms, while value sales grew by 13% in 2013. The volume growth of dishwashers was slower than 2012's rate. With an average unit price of over VND23.2 million, dishwashers failed to reach the mass market of Vietnam where average monthly incomes are much lower. For higher income consumers who can afford dishwashers, most of them are very likely to leave the dishes for their maids to manually wash them. The unit price marginally increased at a rate of 4% due to the positive inflation rate of 2013. Moreover, in their efforts to counter the declining trend, retailers and manufacturers tried to control dish washer prices at a reasonable rate.
Electrolux Vietnam Ltd led dishwashers with 29% volume share gaining one percentage point, followed by BSH Bosch & Siemens Hausgerate GmbH with 19% and Indesit Co SpA with 15%. Electrolux is a prestigious home appliance brand in Vietnam which is well-known for its high-end products targeting higher-income consumers. The good brand awareness in addition with its strong connection with the biggest home appliance retailers in Vietnam majorly contribute to the company's pioneering position in dishwashers.
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Over the forecast period, dishwashers is expected to record a constant value CAGR of 1% and a volume CAGR of 8%. In comparison with the review period volume CAGR of 20% and constant value CAGR of 12%, the predicted performance of dishwashers is on a considerable downward trend as a result of dishwashers' unsuitability for Vietnam. Many consumers believe that washing dishes by dishwashers takes approximately the same amount of time and efforts to manual dishwashing. Moreover, some other consumers would rather just leave the dishes to their maids.
Discover the latest market trends and uncover sources of future market growth for the Dishwashers industry in Vietnam with research from Euromonitor's team of in-country analysts.
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If you're in the Dishwashers industry in Vietnam, our research will save you time and money while empowering you to make informed, profitable decisions.
The Dishwashers 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 Dishwashers in Vietnam?
- What are the major brands in Vietnam?
- How has this high unit price, low global penetration category been affected by recessionary pressure?
- Is there a trend to slimline machines in Vietnam?
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Product coverage: Built-in Dishwashers, Freestanding Dishwashers.
Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.
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