Vietnam: Brakes And Servo-Brakes Market 2025

Brakes And Servo-Brakes Market Size in Vietnam

In 2022, the Vietnamese brakes and servo-brakes market decreased by -0.1% to $X, falling for the third year in a row after two years of growth. Over the period under review, consumption recorded a mild downturn. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Brakes And Servo-Brakes Production in Vietnam

In value terms, brakes and servo-brakes production shrank to $X in 2022 estimated in export price. Overall, production recorded a noticeable setback. The most prominent rate of growth was recorded in 2014 with an increase of 37%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Brakes And Servo-Brakes Exports

Exports from Vietnam

In 2022, the amount of brakes and servo-brakes exported from Vietnam fell markedly to X tons, waning by -29.4% compared with the previous year's figure. In general, exports, however, recorded buoyant growth. The growth pace was the most rapid in 2021 with an increase of 164%. As a result, the exports attained the peak of X tons, and then dropped notably in the following year.

In value terms, brakes and servo-brakes exports contracted markedly to $X in 2022. Overall, exports, however, showed a resilient increase. The pace of growth appeared the most rapid in 2021 with an increase of 180%. As a result, the exports reached the peak of $X, and then fell significantly in the following year.

Exports by Country

The United States (X tons), South Korea (X tons) and Japan (X tons) were the main destinations of brakes and servo-brakes exports from Vietnam, together comprising 74% of total exports. Mexico, Canada, Slovakia, Germany and Denmark lagged somewhat behind, together accounting for a further 22%.

From 2012 to 2022, the biggest increases were recorded for Slovakia (with a CAGR of +153.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for brakes and servo-brakes exported from Vietnam were the United States ($X), Japan ($X) and Mexico ($X), together accounting for 79% of total exports. South Korea, Canada, Slovakia, Germany and Denmark lagged somewhat behind, together comprising a further 13%.

Slovakia, with a CAGR of +112.8%, saw the highest growth rate of the value of exports, in terms of 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

The average brakes and servo-brakes export price stood at $X per ton in 2022, declining by -3.9% against the previous year. Overall, the export price saw a pronounced decline. The growth pace was the most rapid in 2018 an increase of 6.6% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Denmark ($X per ton), while the average price for exports to South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Denmark (+2.1%), while the prices for the other major destinations experienced mixed trend patterns.

Brakes And Servo-Brakes Imports

Imports into Vietnam

In 2022, brakes and servo-brakes imports into Vietnam contracted slightly to X tons, reducing by -3.6% compared with the year before. Overall, total imports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +6.8% 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 +3.8% against 2020 indices. The pace of growth was the most pronounced in 2018 with an increase of 52% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then shrank in the following year.

In value terms, brakes and servo-brakes imports dropped to $X in 2022. In general, imports, however, showed a strong expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 102%. Over the period under review, imports hit record highs at $X in 2021, and then contracted in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of brakes and servo-brakes to Vietnam, accounting for a 80% share of total imports. Moreover, brakes and servo-brakes imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), tenfold. India (X tons) ranked third in terms of total imports with a 5.2% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +7.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+14.7% per year) and India (+216.6% per year).

In value terms, China ($X) constituted the largest supplier of brakes and servo-brakes to Vietnam, comprising 71% of total imports. The second position in the ranking was taken by Japan ($X), with a 12% share of total imports. It was followed by India, with a 7.2% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +17.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+15.2% per year) and India (+213.8% per year).

Import Prices by Country

In 2022, the average brakes and servo-brakes import price amounted to $X per ton, which is down by -2.4% against the previous year. Over the period under review, import price indicated a strong increase from 2012 to 2022: its price increased at an average annual rate of +6.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, brakes and servo-brakes import price increased by +1.7% against 2016 indices. The growth pace was the most rapid in 2013 when the average import price increased by 60% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2021, and then shrank in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+9.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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