As a Chinese crane supplier with many years of crane service experience in Vietnam, Dongqi has been paying attention to the development and growth of the Vietnamese crane market. As a neighboring country, Chinese crane manufacturers have very good conditions in supplying cranes to Vietnam. With the development of the COVID-19 epidemic in the world, the demand for various cranes in the Vietnamese market has experienced a relatively high growth. Vietnam crane market is expected to grow at a CAGR of over 5% during the forecast period (2020-2025)
Some of the major factors driving the market are the increase in new construction and renovation activities. Due to population growth and urbanization over the past three years, investment in the construction of roads, highways, smart cities, subways, bridges and highways has increased. Vietnam’s construction industry is expected to witness significant growth in the next few years with huge opportunities in infrastructure, residential and non-residential sectors that will propel the boom in the crane market
Vietnam's "Vietnam Express" website reported on January 28: Vietnam's largest waste-to-energy project in the country, Hanoi Soc Son Waste-to-energy Plant, will be connected to the grid for power generation in March 2022.
The project started construction in September 2019, started trial operation on January 21, 2022, and began receiving garbage and supporting system debugging on January 28. It is expected to be integrated into the national grid in March 2022, generating 30 MW/h. At present, 95% of the factory infrastructure project has been completed, and about 85% of the installation project has been completed. It is expected that all five incinerators will be put into operation in June 2022. After the project is completed, it will become one of the largest and most powerful waste incineration power generation projects in Vietnam, and can process about 70% of the 6,000 tons of waste in Hanoi every day.
In our global sales, we found that power plants often have a large demand for various types of overhead cranes. In some small workshops, electric hoists also have a certain space to play. As the engine of industrial society, power plants will usher in more and more planning and construction in Vietnam.
The Vietnam Crane Market covers the latest trends and technological developments in the market, types of cranes, types of applications, and the shares of key players in the region
Construction activities in Vietnam have increased over the last three years. The industry's output value - measured at constant 2017 US dollar exchange rates - increasing from USD 53.0 billion in 2017 to USD 57.5 billion in 2018.
The government in Vietnam aims at increasing the housing area per capita from 16.7 m2 in 2015 to 25 m2 by the end of 2020. Ongoing and future construction projects in the country include Thu Thiem Smart City, Metro lines development (USD 800 million), Long Thanh International airport (USD 16 billion), and expansion at the Tan Son Nhat International airport.
Considering all the ongoing and future construction activities in Vietnam, the crane market is expected to witness steady growth over the forecast period.
Manitowoc and Liebherr cranes are the most used cranes in the construction sector.
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