Vietnam Household Appliances Market Overview

The Vietnam household appliances market was valued at USD 4.86 billion in 2024 and is projected to grow to USD 7.52 billion by 2030, reflecting a compound annual growth rate (CAGR) of 7.8% from 2025 to 2030. The surge in demand is largely attributed to rapid urbanization and the growing popularity of apartment-style living, which has increased the need for compact, multifunctional household solutions.

As more people migrate to urban centers, the demand for space-saving and efficient appliances has grown substantially. This shift is a key driver behind the market's expansion.

In addition, rising disposable incomes and the growth of Vietnam's middle class are accelerating the adoption of premium household products. With enhanced financial stability, consumers are showing a growing preference for high-quality, durable, and energy-efficient appliances, which aligns with increasing awareness of sustainability. For example, in June 2023, Panasonic Vietnam was named among the Top 50 Sustainable Enterprises by Nhip Cau Dau Tu magazine for its efforts to reduce its carbon footprint.

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Technological and Market Drivers

The market is also experiencing strong momentum from technological advancements and the adoption of smart appliances. As Vietnamese consumers become more tech-savvy, there is a rising demand for appliances equipped with AI and Internet of Things (IoT) capabilities, enhancing convenience and performance.

Moreover, the rapid rise of e-commerce has made household appliances more accessible to a wider audience. Online platforms offer competitive pricing, greater convenience, and a broad product selection, further encouraging purchases. Digital retail is expected to remain a powerful channel influencing consumer behavior in the coming years.

Vietnam’s strong economic growth and favorable investment environment have attracted numerous foreign manufacturers, increasing competition and innovation in the market. International brands are establishing local production bases, enhancing both product availability and affordability. In December 2024, Vietnam's household electrical appliance production rose by 1.1%, with a year-over-year increase of 19.9%. This reflects the sector’s solid performance, driven by domestic consumption, exports, foreign investment, and technological progress.

Key Market Trends & Insights

• Consumer Demographics:
  Vietnamese consumers aged 18 to 45 represent around 57–60% of total market spending. This age group, with higher disposable income and a stronger desire to modernize their homes, is the primary driver of market demand—particularly in urban centers like Hanoi and Ho Chi Minh City.
• By Product Type:
  The major appliances segment dominated the market with a 92.5% revenue share in 2024. High demand for essentials such as refrigerators, washing machines, and air conditioners is supported by income growth and ongoing urbanization.
• By Distribution Channel:
  Electronic stores led the distribution segment in 2024, holding the largest revenue share. Consumers continue to value the ability to physically compare products before purchasing. These stores also attract buyers through competitive pricing, promotional deals, and financing options.

Market Size & Forecast

• 2024 Market Size: USD 4.86 Billion
• 2030 Projected Market Size: USD 7.52 Billion
• CAGR (2025–2030): 7.8%

Key Companies & Competitive Landscape

Leading companies in the Vietnam household appliances market are focused on innovation, strategic partnerships, and omni channel distribution-particularly through online platforms-to align with evolving consumer preferences.

• Samsung Electronics Co. Ltd.
  Offers a wide portfolio including refrigerators, washing machines, air conditioners, and smart home solutions. The company emphasizes smart technology integration, incorporating AI and IoT for enhanced user experience and energy savings.
• Panasonic Corporation
  A major player focused on sustainability and advanced technologies, offering eco-friendly appliances such as refrigerators, washing machines, and air purifiers aimed at reducing environmental impact.

Other prominent companies include:

• LG Electronics
• Robert Bosch GmbH
• Electrolux AB
• Haier Group
• Sharp Corporation
• Midea
• Sanco

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Conclusion

Vietnam’s household appliances market is on a strong upward trajectory, driven by urbanization, rising incomes, technological innovation, and a growing middle class. The increasing adoption of smart appliances, the convenience of e-commerce, and a strong focus on sustainability are transforming consumer preferences and reshaping the competitive landscape.

With a projected CAGR of 7.8% through 2030, and a market expected to reach USD 7.52 billion, Vietnam is emerging as both a key consumer market and an important manufacturing hub in the global household appliances industry. Foreign investments, digital retail growth, and evolving lifestyles are set to play a central role in shaping the future of this market.