Vietnam: Market for Bearing Housings Incorporating Ball Or Roller Bearings 2024

Market Size for Bearing Housings Incorporating Ball Or Roller Bearings in Vietnam

The Vietnamese market for bearing housings incorporating ball or roller bearings surged to $X in 2022, jumping by 94% against the previous year. Over the period under review, consumption showed strong growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Bearing Housings Incorporating Ball Or Roller Bearings in Vietnam

In value terms, bearing housing with ball bearing production expanded significantly to $X in 2022 estimated in export price. In general, production continues to indicate a resilient increase. The pace of growth was the most pronounced in 2020 when the production volume increased by 78%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Exports of Bearing Housings Incorporating Ball Or Roller Bearings

Exports from Vietnam

In 2022, the amount of bearing housings incorporating ball or roller bearings exported from Vietnam declined remarkably to X tons, which is down by -20.1% on the previous year's figure. In general, exports, however, enjoyed significant growth. The pace of growth appeared the most rapid in 2014 with an increase of 214%. The exports peaked at X tons in 2021, and then fell notably in the following year.

In value terms, bearing housing with ball bearing exports declined notably to $X in 2022. Over the period under review, exports, however, posted significant growth. The pace of growth was the most pronounced in 2014 with an increase of 192% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2021, and then declined significantly in the following year.

Exports by Country

The United Arab Emirates (X tons) was the main destination for bearing housing with ball bearing exports from Vietnam, accounting for a 95% share of total exports. Moreover, bearing housing with ball bearing exports to the United Arab Emirates exceeded the volume sent to the second major destination, Myanmar (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to the United Arab Emirates totaled +131.3%.

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for bearing housings incorporating ball or roller bearings exports from Vietnam, comprising 91% of total exports. The second position in the ranking was taken by Myanmar ($X), with a 9.4% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the United Arab Emirates amounted to +134.2%.

Export Prices by Country

The average export price for bearing housings incorporating ball or roller bearings stood at $X per ton in 2022, with an increase of 2% against the previous year. Over the period under review, the export price, however, saw a slight decrease. The pace of growth was the most pronounced in 2020 when the average export price increased by 24%. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Myanmar ($X per ton), while the average price for exports to the United Arab Emirates stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Myanmar (+44.0%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Bearing Housings Incorporating Ball Or Roller Bearings

Imports into Vietnam

In 2022, purchases abroad of bearing housings incorporating ball or roller bearings increased by 377% to X tons, rising for the second year in a row after two years of decline. Over the period under review, imports recorded significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, bearing housing with ball bearing imports reduced to $X in 2022. In general, total imports indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +2.3% 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 +10.1% against 2020 indices. The growth pace was the most rapid in 2013 when imports increased by 48% against the previous year. Imports peaked at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the United Arab Emirates (X tons) was the main bearing housing with ball bearing supplier to Vietnam, accounting for a approx. 100% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United Arab Emirates stood at +73.9%.

In value terms, the United Arab Emirates ($X) constituted the largest supplier of bearing housings incorporating ball or roller bearings to Vietnam.

From 2012 to 2022, the average annual growth rate of value from the United Arab Emirates totaled +71.0%.

Import Prices by Country

The average import price for bearing housings incorporating ball or roller bearings stood at $X per ton in 2022, which is down by -80.8% against the previous year. Over the period under review, the import price recorded a significant decrease. The most prominent rate of growth was recorded in 2021 an increase of 15% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for the United Arab Emirates.

From 2012 to 2022, the rate of growth in terms of prices for the United Arab Emirates amounted to -1.7% per year.

Source: IndexBox Platform

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