Vietnam: Bridge Market 2024

Bridge Market Size in Vietnam

In 2021, the Vietnamese bridge market increased by 2.3% to $X, rising for the second consecutive year after four years of decline. Over the period under review, consumption, however, saw a pronounced descent. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market failed to regain momentum.

Bridge Production in Vietnam

In value terms, bridge production rose remarkably to $X in 2021 estimated in export price. In general, the total production indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +5.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -5.5% against 2019 indices. The most prominent rate of growth was recorded in 2015 with an increase of 73% against the previous year. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2021, production remained at a lower figure.

Bridge Exports

Exports from Vietnam

In 2021, exports of bridges, bridge sections, towers and lattice masts (of iron or steel) from Vietnam rose significantly to X tons, picking up by 13% against 2020 figures. Over the period under review, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2016 when exports increased by 184%. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, bridge exports surged to $X in 2021. In general, exports recorded significant growth. The pace of growth was the most pronounced in 2016 when exports increased by 177% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Finland (X tons), Germany (X tons) and the United States (X tons) were the main destinations of bridge exports from Vietnam, together accounting for 55% of total exports. The UK, Sweden, Australia, Chile, the Netherlands, Poland, Mexico, India and Belgium lagged somewhat behind, together comprising a further 40%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Sweden (with a CAGR of +372.6%), while the other leaders experienced more modest paces of growth.

In value terms, Finland ($X), Germany ($X) and the United States ($X) were the largest markets for bridge exported from Vietnam worldwide, together comprising 52% of total exports. These countries were followed by the UK, Sweden, Australia, India, Chile, the Netherlands, Poland, Mexico and Belgium, which together accounted for a further 42%.

In terms of the main countries of destination, Sweden, with a CAGR of +359.8%, 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

In 2021, the average bridge export price amounted to $X per ton, increasing by 12% against the previous year. In general, the export price, however, saw a pronounced reduction. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Finland (+12.7%), while the prices for the other major destinations experienced mixed trend patterns.

Bridge Imports

Imports into Vietnam

In 2021, bridge imports into Vietnam surged to X tons, rising by 766% compared with 2020 figures. In general, imports continue to indicate a resilient expansion. Imports peaked at X tons in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, bridge imports soared to $X in 2021. Over the period under review, imports saw a buoyant increase. Imports peaked at $X in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) was the main supplier of bridge to Vietnam, accounting for a 93% share of total imports. It was followed by South Korea (X tons), with a 2.6% share of total imports. The third position in this ranking was taken by Japan (X tons), with a 1.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +7.2%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-10.8% per year) and Japan (+3.2% per year).

In value terms, China ($X) constituted the largest supplier of bridges, bridge sections, towers and lattice masts (of iron or steel) to Vietnam, comprising 91% of total imports. The second position in the ranking was taken by South Korea ($X), with a 4% share of total imports. It was followed by Japan, with a 2.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +6.7%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-7.6% per year) and Japan (+10.2% per year).

Import Prices by Country

In 2021, the average bridge import price amounted to $X per ton, reducing by -2.5% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the average import price increased by 33%. As a result, import price reached the peak level of $X per ton. From 2017 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+6.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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