Vietnam: Market for Air Conditioning Machines For Motor Vehicles 2024

Exports of Air Conditioning Machines For Motor Vehicles

Exports from Vietnam

After three years of decline, shipments abroad of air conditioning machines for motor vehicles increased by 201% to X units in 2022. Overall, exports saw significant growth. The pace of growth was the most pronounced in 2018 with an increase of 681% against the previous year. As a result, the exports attained the peak of X units. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, motor vehicle air conditioning machine exports surged to $X in 2022. In general, exports recorded a significant expansion. The pace of growth was the most pronounced in 2018 when exports increased by 701%. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Rwanda (X units), Germany (X units) and Japan (X units) were the main destinations of motor vehicle air conditioning machine exports from Vietnam, with a combined 91% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Rwanda (with a CAGR of +44,300.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Japan ($X) and Rwanda ($X) were the largest markets for motor vehicle air conditioning machine exported from Vietnam worldwide, together comprising 87% of total exports.

Rwanda, with a CAGR of +32,427.1%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average export price for air conditioning machines for motor vehicles amounted to $X per unit, which is down by -26.8% against the previous year. In general, the export price recorded a perceptible curtailment. The most prominent rate of growth was recorded in 2020 an increase of 14% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2021, and then fell rapidly in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per unit), while the average price for exports to Rwanda ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+5.4%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Air Conditioning Machines For Motor Vehicles

Imports into Vietnam

After three years of growth, supplies from abroad of air conditioning machines for motor vehicles decreased by -12.3% to X units in 2022. In general, total imports indicated a perceptible expansion from 2012 to 2022: its volume increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +47.1% against 2018 indices. The growth pace was the most rapid in 2015 with an increase of 46% against the previous year. Over the period under review, imports attained the maximum at X units in 2021, and then shrank in the following year.

In value terms, motor vehicle air conditioning machine imports declined significantly to $X in 2022. Overall, total imports indicated a mild increase from 2012 to 2022: its value increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +51.4% against 2018 indices. The most prominent rate of growth was recorded in 2021 with an increase of 56%. As a result, imports reached the peak of $X, and then declined significantly in the following year.

Imports by Country

Thailand (X units), South Korea (X units) and China (X units) were the main suppliers of motor vehicle air conditioning machine imports to Vietnam, with a combined 67% share of total imports. Malaysia, the Netherlands, India and Indonesia lagged somewhat behind, together comprising a further 31%.

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of +48.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), South Korea ($X) and China ($X) constituted the largest motor vehicle air conditioning machine suppliers to Vietnam, together comprising 67% of total imports. Malaysia, the Netherlands, India and Indonesia lagged somewhat behind, together accounting for a further 31%.

Malaysia, with a CAGR of +45.2%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for air conditioning machines for motor vehicles amounted to $X per unit, reducing by -6.4% against the previous year. In general, the import price showed a slight contraction. The pace of growth appeared the most rapid in 2021 when the average import price increased by 21%. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from China ($X per unit) and India ($X per unit), while the price for the Netherlands ($X per unit) and South Korea ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+4.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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