Wednesday, January 31, 2024
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The woodworking industry is about to experience new opportunities and scopes with the launch of a new wood and woodworking trade show in Hanoi, Vietnam. The woodworking players and professionals who plan to break into the furniture market in Hanoi, Vietnam can finally do so at the upcoming Hanoi Wood Expo exhibition. The show will welcome all its visitors from May 29 and remain open till June 1, 2024.
Held at the National Exhibition Construction Center (NECC), the exhibition will be held concurrently with Hanoi Furniture Fittings & Upholstery Expo. Both exhibitions aim to serve the domestic and export furniture manufacturing markets in Hanoi — a market that is, according to William Pang, managing director of Pablo Publishing & Exhibition, a “huge, underserved market”.
“Currently, most trade exhibitions for wood materials, software and machinery in Vietnam are concentrated in the South, targeting export-oriented furniture companies. While this region has been prosperous, the past few months of instability in the US and Europe markets have led to a slowdown in furniture export in South Vietnam,” said Pang.
“North Vietnam tells a different, more exciting story. In recent times, many multi-national companies and furniture companies have relocated their factories to North Vietnam, and Hanoi city has had a huge increased in tourism. This promises good opportunities for wood materials, software and machinery companies.
“But there isn’t any specialised woodworking exhibition in North Vietnam to bridge Hanoi furniture making companies with materials and machinery suppliers. To bridge this gap and in consideration Hanoi’s huge potential, we are pleased to announce the launch of Hanoi Wood Expo and Hanoi Furniture Fittings & Upholstery Expo 2024.”
Hanoi Wood Expo and Hanoi Furniture Fittings & Upholstery Expo 2024 will exhibit raw materials and supplies woodworking machinery and tools; surface treatment and finishing solutions; fittings such as kitchen and office furniture hardware and decorative profiles; upholstery products including fabrics, leathers, springs and more; and Industry 4.0 solutions for the efficient furniture production.
The expected visitors that the event expects will include players from the wood panel and furniture manufacturing industry. It will also visitors from the architectural and interior design industries, the construction industry and more. More details about the exhibitions will be announced closer to the exhibition date.
HANOI AT A GLANCE
Furniture manufacturer players all around, Hanoi ranks third in Vietnam in terms of the concentration of furniture factories, only slightly behind Ho Chi Minh City. The domestic furniture market in Vietnam boasts a US$5-6 billion demand. Of which, in Hanoi, the demand for furniture and furnishing is set to exponentially increase in the coming months to tackle the booming real estate and hospitality segments: 66 new hotels projects with 11,123 rooms, and many more restaurants and cafes are expected to be built in 2024.
The urbanisation rate in Hanoi is expected to reach 62% by 2025 and increase to 75% by 2030 from 49% currently. Residential properties in Hanoi are projected to reach a whooping US$4.2 billion in demand, especially as the demand for furniture shopping in Hanoi has been increasing in recent years. With a high household income rivalling wealthy countries like Singapore and Hong Kong, and with a growing need for functional and aesthetically pleasing living spaces, these has created a significant market for wood furniture and interior design companies in Hanoi.
Currently, around 1,100 wood processing and furniture manufacturing enterprises are operating in Hanoi, and more than 2,000 enterprises across North Vietnam. However, to keep up with the demand, furniture manufacturers need state-of-the-art equipment to meet increased production. Hanoi Wood Expo and Hanoi Furniture Fittings & Upholstery Expo 2024 will be the perfect opportunity to tap into this demand.