Vietnam: Market for Bearing Housings Not Incorporating Ball Or Roller Bearings, Plain Shaft Bearings 2024

Market Size for Bearing Housings Not Incorporating Ball Or Roller Bearings, Plain Shaft Bearings in Vietnam

For the third consecutive year, the Vietnamese market for bearing housings not incorporating ball or roller bearings, plain shaft bearings recorded growth in sales value, which increased by 57% to $X in 2021. In general, consumption enjoyed a significant expansion. Bearing housing without ball bearing consumption peaked in 2021 and is expected to retain growth in the near future.

Exports of Bearing Housings Not Incorporating Ball Or Roller Bearings, Plain Shaft Bearings

Exports from Vietnam

After three years of growth, shipments abroad of bearing housings not incorporating ball or roller bearings, plain shaft bearings decreased by -15.7% to X tons in 2021. In general, exports recorded a perceptible setback. The pace of growth appeared the most rapid in 2019 with an increase of 278%. Over the period under review, the exports reached the peak figure at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, bearing housing without ball bearing exports surged to $X in 2021. Over the period under review, exports, however, recorded a buoyant increase. The pace of growth was the most pronounced in 2019 when exports increased by 303%. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the immediate term.

Exports by Country

The United States (X tons), South Korea (X tons) and Mexico (X tons) were the main destinations of bearing housing without ball bearing exports from Vietnam, with a combined 83% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Mexico (with a CAGR of +97.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for bearing housing without ball bearing exported from Vietnam were the United States ($X), South Korea ($X) and Mexico ($X), with a combined 83% share of total exports.

Among the main countries of destination, Mexico, with a CAGR of +117.4%, saw the highest growth rate of 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

The average export price for bearing housings not incorporating ball or roller bearings, plain shaft bearings stood at $X per ton in 2021, with an increase of 60% against the previous year. In general, the export price continues to indicate a resilient expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major export markets. In 2021, amid the top suppliers, the countries with the highest prices were Mexico ($X per ton) and Lao People's Democratic Republic ($X per ton), while the average price for exports to Taiwan (Chinese) ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+18.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Bearing Housings Not Incorporating Ball Or Roller Bearings, Plain Shaft Bearings

Imports into Vietnam

For the sixth year in a row, Vietnam recorded growth in overseas purchases of bearing housings not incorporating ball or roller bearings, plain shaft bearings, which increased by 52% to X tons in 2021. Over the period under review, imports posted significant growth. The most prominent rate of growth was recorded in 2016 with an increase of 87% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, bearing housing without ball bearing imports skyrocketed to $X in 2021. Overall, imports posted a significant expansion. The most prominent rate of growth was recorded in 2016 when imports increased by 121% against the previous year. Over the period under review, imports reached the maximum in 2021 and are likely to see gradual growth in years to come.

Imports by Country

China (X tons), Japan (X tons) and Slovakia (X tons) were the main suppliers of bearing housing without ball bearing imports to Vietnam, together accounting for 72% of total imports.

From 2012 to 2021, the biggest increases were recorded for Slovakia (with a CAGR of +215.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest bearing housing without ball bearing suppliers to Vietnam were China ($X), Japan ($X) and Slovakia ($X), with a combined 72% share of total imports.

Among the main suppliers, Slovakia, with a CAGR of +178.0%, saw the highest rates of growth with regard to the value of imports, 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 import price for bearing housings not incorporating ball or roller bearings, plain shaft bearings amounted to $X per ton, flattening at the previous year. Over the period under review, the import price recorded a drastic downturn. The growth pace was the most rapid in 2016 when the average import price increased by 18%. As a result, import price attained the peak level of $X per ton. From 2017 to 2021, the average import prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were France ($X per ton) and India ($X per ton), while the price for Slovakia ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (-11.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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