Vietnam: Metal Vehicle Lock Market 2024

Metal Vehicle Lock Market Size in Vietnam

In 2021, the Vietnamese metal vehicle lock market decreased by -11.3% to $X, falling for the fourth consecutive year after two years of growth. In general, consumption showed a deep downturn. Metal vehicle lock consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Metal Vehicle Lock Production in Vietnam

In value terms, metal vehicle lock production shrank to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 with an increase of 26% against the previous year. Metal vehicle lock production peaked at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Metal Vehicle Lock Exports

Exports from Vietnam

Metal vehicle lock exports from Vietnam expanded significantly to X tons in 2021, with an increase of 5.9% compared with 2020 figures. Overall, exports saw significant growth. The growth pace was the most rapid in 2016 with an increase of 441% against the previous year. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, metal vehicle lock exports totaled $X in 2021. Over the period under review, exports showed significant growth. The most prominent rate of growth was recorded in 2016 when exports increased by 558% against the previous year. The exports peaked in 2021 and are likely to continue growth in years to come.

Exports by Country

India (X tons), Thailand (X tons) and the United States (X tons) were the main destinations of metal vehicle lock exports from Vietnam, with a combined 62% share of total exports.

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of +737.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for metal vehicle lock exported from Vietnam were India ($X), Thailand ($X) and the United States ($X), together accounting for 62% of total exports.

In terms of the main countries of destination, India, with a CAGR of +758.7%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average metal vehicle lock export price amounted to $X per ton, dropping by -2.1% against the previous year. Overall, export price indicated tangible growth from 2012 to 2021: its price increased at an average annual rate of +2.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, metal vehicle lock export price increased by +14.6% against 2019 indices. The pace of growth was the most pronounced in 2016 an increase of 22% against the previous year. The export price peaked at $X per ton in 2020, and then fell slightly in the following year.

Average prices varied noticeably for the major external markets. In 2021, the countries with the highest prices were Slovenia ($X per ton) and India ($X per ton), while the average price for exports to China ($X per ton) and Turkey ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+5.9%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Vehicle Lock Imports

Imports into Vietnam

In 2021, metal vehicle lock imports into Vietnam expanded remarkably to X tons, increasing by 14% against 2020 figures. Over the period under review, imports, however, saw a perceptible decrease. The pace of growth was the most pronounced in 2016 with an increase of 58%. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, metal vehicle lock imports soared to $X in 2021. In general, imports, however, continue to indicate a pronounced decrease. The pace of growth was the most pronounced in 2016 with an increase of 56%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Thailand (X tons) and South Korea (X tons) were the main suppliers of metal vehicle lock imports to Vietnam, with a combined 65% share of total imports. Japan, India, Germany and Indonesia lagged somewhat behind, together comprising a further 30%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +70.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest metal vehicle lock suppliers to Vietnam were China ($X), Thailand ($X) and South Korea ($X), with a combined 65% share of total imports. Japan, India, Germany and Indonesia lagged somewhat behind, together comprising a further 30%.

India, with a CAGR of +71.5%, recorded the highest rates of growth with regard to the value of imports, among 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 2021, the average metal vehicle lock import price amounted to $X per ton, picking up by 3.8% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 9.9% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, the countries with the highest prices were India ($X per ton) and Japan ($X per ton), while the price for China ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+0.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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