DUBLIN–(BUSINESS WIRE)–The “Vietnam Wiring Devices Market Outlook (2021-2027): Market Forecast By Types (Switches, Sockets, Wire Connectors & Others), By Verticals (Residential, Commercial, Industrial & Public And Transport Infrastructure) And Competitive Landscape” report has been added to ResearchAndMarkets.com’s offering.
Vietnam Wiring Devices Market is projected to grow at a CAGR of 9.0% during 2021-2027F
The report thoroughly covers the Vietnam Wiring Devices market by types and verticals. The report provides an unbiased and detailed analysis of the ongoing trends, opportunities / high growth areas, market drivers, which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
Vietnam Wiring Devices Market Synopsis
Vietnam wiring devices market is anticipated to register rapid growth over the coming years on account of urbanization, rising energy demand along with government efforts such as “Resolution 115/NQ-CP” to boost industrialization and infrastructure development activities in the country.
Further, increased development of housing and commercial spheres in urban areas resulted in the installation of wiring devices in the country and this trend is likely to continue in the coming years.
Construction industry in Vietnam is among the Asia-Pacific’s (APAC) best performing during recent years, according to media reports during the 2015-2019 period, the sector recorded an average annual growth rate of 9.6% during the period. Despite the covid-19 pandemic, the industry has continued to grow strongly, despite losing momentum due to the countrywide lockdown.
Market by Verticals Analysis
By Verticals, commercial sector accounts for a major market revenue share owing to rising commercial infrastructure development in Vietnam, it was estimated that 442 four- and five-star hotels were in operation in Vietnam at the end of the third quarter of 2019, providing 91,236 keys to the market.
Furthermore, the banking/insurance, manufacturing, and information technology sectors are expected to drive demand, with increased working spaces propelling the country’s wiring devices market.
Key Attractiveness of the Report
Company Profiles
Market Scope and Segmentation
The report provides a detailed analysis of the following market segments:
By Types
By Verticals
For more information about this report visit https://www.researchandmarkets.com/r/8glc2u
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