Vietnam Transformer Market (2024-2030) | Companies, Industry, Growth, Trends, Outlook, Revenue, Value, Size, Forecast, Share & Analysis

Topics Covered in Vietnam Transformer Market Report

Vietnam Transformer Market report thoroughly covers the market by Core, Product, Winding, application, Cooling, Rating and Phase. The market report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Vietnam Transformer Market Synopsis

Vietnam Transformer Market is rising significantly and it will accomplish more growth in the years to come attributed to the rising economic growth of the market, expanding rate of population, growing urbanization, as well as the rising demand for electricity across the nation.

According to 6Wresearch, Vietnam Transformer Market size is anticipated to rise at a CAGR of 9.2% during 2024-2030. The demand for electricity has been on the rise due to the country's economic growth, urbanization, and increasing population. As a result, the requirement for Transformers has grown exponentially. Furthermore, the government's ambitious expansion plans for the country's energy infrastructure, including investment in renewable energy, has led to a surge in demand for transformers. Also, foreign investment in manufacturing, transport, and other strategic industries has been a significant driver of the transformer market in Vietnam.

Several challenges constrain the development of the Vietnam transformer market, such as ensuring a reliable supply chain, technological limitations, inadequate resources, and workforce development. Additionally, the increasing competition in the market has led to price war, infiltration of imitation products, damaging trust in customers. Furthermore, the high cost of raw materials due to the fluctuation of the global market affects prices and limits the availability of transformers in the market.

Vietnam Transformer Industry: Key Players

The Vietnam transformer market has several local and international players, offering competitive prices and technologically advanced products. Some of the major local players include the Ministry of Defense's Viettronics Co., Ltd., Hung Do Trading and Service Joint Stock Company, and Hanh Phuc Electric and Trading Joint Stock Company. The leading international players include Siemens AG, ABB Group, General Electric Company, Schneider Electric SE, and Crompton Greaves. These companies are major players in the Vietnam transformer market, and their position continues to rise as they invest heavily in research and development, mergers and acquisitions.

Transformer Market in Vietnam: Government Regulations

The Government in Vietnam regulates the transformer market to provide security and signal to the investors. The government is implementing the import-restricting measures of transformer products and promoting local manufacturers. In 2019, a regulation law on energy efficiency for transformers was approved by The Ministry of Industry and Trade, enforcing energy efficiency development within transformers products. Furthermore, to encourage investment and competition in the market, the government has set a specific requirement for local production and material sourcing, expected to strengthen the local industry in the near future.

Market Segmentation by Product

According to Nisha, Senior Research Analyst, 6Wresearch, the distribution transformer segment is currently growing rapidly, primarily due to the surge in demand for small distribution transformers.

Market Segmentation by Application

The residential and commercial segment of Vietnam's transformer market is growing at a steady pace. The rising population, urbanization, and the implementation of smart cities are significant drivers of this growth.

Market Segmentation by Phase

Both single-phase and three-phase have a crucial role to play in the development of Vietnam's energy sector. However, the growth of the single-phase market is expected to outpace the three-phase market, driven by rural electrification, as well as the increasing use of electronic devices in households and businesses.

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2020 to 2023.
• Base Year: 2023
• Forecast Data until 2030.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report

• Vietnam Transformer Market Outlook
• Market Size of Vietnam Transformer Market, 2023
• Forecast of Vietnam Transformer Market, 2030
• Historical Data and Forecast of Vietnam Transformer Revenues & Volume for the Period 2020 - 2030
• Vietnam Transformer Market Trend Evolution
• Vietnam Transformer Market Drivers and Challenges
• Vietnam Transformer Price Trends
• Vietnam Transformer Porter's Five Forces
• Vietnam Transformer Industry Life Cycle
• Historical Data and Forecast of Vietnam Transformer Market Revenues & Volume By Core for the Period 2020 - 2030
• Historical Data and Forecast of Vietnam Transformer Market Revenues & Volume By Closed for the Period 2020 - 2030
• Historical Data and Forecast of Vietnam Transformer Market Revenues & Volume By Shell for the Period 2020 - 2030
• Historical Data and Forecast of Vietnam Transformer Market Revenues & Volume By Berry for the Period 2020 - 2030
• Historical Data and Forecast of Vietnam Transformer Market Revenues & Volume By Product for the Period 2020 - 2030
• Historical Data and Forecast of Vietnam Transformer Market Revenues & Volume By Power transformer for the Period 2020 - 2030
• Historical Data and Forecast of Vietnam Transformer Market Revenues & Volume By Distribution transformer for the Period 2020 - 2030
• Historical Data and Forecast of Vietnam Transformer Market Revenues & Volume By Instrument transformer for the Period 2020 - 2030
• Historical Data and Forecast of Vietnam Transformer Market Revenues & Volume By Others for the Period 2020 - 2030
• Historical Data and Forecast of Vietnam Transformer Market Revenues & Volume By Winding for the Period 2020 - 2030
• Historical Data and Forecast of Vietnam Transformer Market Revenues & Volume By Two-winding for the Period 2020 - 2030
• Historical Data and Forecast of Vietnam Transformer Market Revenues & Volume By Auto-transformer for the Period 2020 - 2030
• Historical Data and Forecast of Vietnam Transformer Market Revenues & Volume By Application for the Period 2020 - 2030
• Historical Data and Forecast of Vietnam Transformer Market Revenues & Volume By Residential & Commercial for the Period 2020 - 2030
• Historical Data and Forecast of Vietnam Transformer Market Revenues & Volume By Utility for the Period 2020 - 2030
• Historical Data and Forecast of Vietnam Transformer Market Revenues & Volume By Industrial for the Period 2020 - 2030
• Historical Data and Forecast of Vietnam Transformer Market Revenues & Volume By Cooling for the Period 2020 - 2030
• Historical Data and Forecast of Vietnam Transformer Market Revenues & Volume By Dry type for the Period 2020 - 2030
• Historical Data and Forecast of Vietnam Transformer Market Revenues & Volume By Oil Immersed for the Period 2020 - 2030
• Historical Data and Forecast of Vietnam Transformer Market Revenues & Volume By Insulation for the Period 2020 - 2030
• Historical Data and Forecast of Vietnam Transformer Market Revenues & Volume By Gas for the Period 2020 - 2030
• Historical Data and Forecast of Vietnam Transformer Market Revenues & Volume By Oil for the Period 2020 - 2030
• Historical Data and Forecast of Vietnam Transformer Market Revenues & Volume By Solid for the Period 2020 - 2030
• Historical Data and Forecast of Vietnam Transformer Market Revenues & Volume By Air for the Period 2020 - 2030
• Historical Data and Forecast of Vietnam Transformer Market Revenues & Volume By Others for the Period 2020 - 2030
• Historical Data and Forecast of Vietnam Transformer Market Revenues & Volume By Phase for the Period 2020 - 2030
• Historical Data and Forecast of Vietnam Transformer Market Revenues & Volume By Single phase for the Period 2020 - 2030
• Historical Data and Forecast of Vietnam Transformer Market Revenues & Volume By 3 - phase for the Period 2020 - 2030
• Historical Data and Forecast of Vietnam Transformer Market Revenues & Volume By Rating for the Period 2020 - 2030
• Historical Data and Forecast of Vietnam Transformer Market Revenues & Volume By ? 10 MVA for the Period 2020 - 2030
• Historical Data and Forecast of Vietnam Transformer Market Revenues & Volume By 11 MVA to 60 MVA for the Period 2020 - 2030
• Historical Data and Forecast of Vietnam Transformer Market Revenues & Volume By 61 MVA to 600 MVA for the Period 2020 - 2030
• Historical Data and Forecast of Vietnam Transformer Market Revenues & Volume By > 600 MVA for the Period 2020 - 2030
• Vietnam Transformer Import Export Trade Statistics
• Market Opportunity Assessment By Core
• Market Opportunity Assessment By Product
• Market Opportunity Assessment By Winding
• Market Opportunity Assessment By Application
• Market Opportunity Assessment By Cooling
• Market Opportunity Assessment By Insulation
• Market Opportunity Assessment By Phase
• Market Opportunity Assessment By Rating
• Vietnam Transformer Top Companies Market Share
• Vietnam Transformer Competitive Benchmarking By Technical and Operational Parameters
• Vietnam Transformer Company Profiles
• Vietnam Transformer Key Strategic Recommendations

Market Scope and Segmentation

The report provides a detailed analysis of the following market segments:

By Core

• Closed
• Shell
• Berry

By Product

• Power Transformer
• Distribution Transformer
• Instrument Transformer
• Others

By Winding

• Two-Winding
• Auto-Transformer

By Application

• Residential & Commercial
• Utility
• Industrial

By Cooling

• Dry-Type
• Oil Immersed

By Phase

• Single Phase
• 3 – Phase

By Rating

• 10 MVA
• 11 MVA To 60 MVA
• 61 MVA To 600 MVA
• > 600 MVA

Frequently Asked Questions About the Market Study (FAQs):