Vietnam: Trailer And Semi-Trailer Market 2024

Trailer And Semi-Trailer Market Size in Vietnam

After two years of growth, the Vietnamese trailer and semi-trailer market decreased by -36.1% to $X in 2022. In general, consumption, however, showed a strong increase. Trailer and semi-trailer consumption peaked at $X in 2021, and then dropped markedly in the following year.

Trailer And Semi-Trailer Exports

Exports from Vietnam

For the third consecutive year, Vietnam recorded decline in overseas shipments of cargo trailers and semi-trailers, which decreased by -1.7% to X units in 2022. Overall, exports recorded a perceptible decrease. The growth pace was the most rapid in 2014 with an increase of 285%. The exports peaked at X units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, trailer and semi-trailer exports rose markedly to $X in 2022. Over the period under review, exports, however, recorded strong growth. The most prominent rate of growth was recorded in 2019 when exports increased by 127%. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The United States (X units) was the main destination for trailer and semi-trailer exports from Vietnam, with a 40% share of total exports. Moreover, trailer and semi-trailer exports to the United States exceeded the volume sent to the second major destination, Australia (X units), threefold. The UK (X units) ranked third in terms of total exports with a 7.6% share.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to +29.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+23.9% per year) and the UK (-2.7% per year).

In value terms, the United States ($X) remains the key foreign market for cargo trailers and semi-trailers exports from Vietnam, comprising 57% of total exports. The second position in the ranking was taken by Cambodia ($X), with a 20% share of total exports. It was followed by Lao People's Democratic Republic, with a 4.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +49.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cambodia (+5.5% per year) and Lao People's Democratic Republic (+4.7% per year).

Export Prices by Country

The average trailer and semi-trailer export price stood at $X per unit in 2022, with an increase of 9.4% against the previous year. Overall, the export price enjoyed a resilient increase. The pace of growth was the most pronounced in 2013 an increase of 181% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2014 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Cambodia ($X per unit), while the average price for exports to the UK ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+49.6%), while the prices for the other major destinations experienced more modest paces of growth.

Trailer And Semi-Trailer Imports

Imports into Vietnam

In 2022, after two years of growth, there was significant decline in overseas purchases of cargo trailers and semi-trailers, when their volume decreased by -33.5% to X units. In general, imports, however, continue to indicate a strong expansion. The pace of growth was the most pronounced in 2014 with an increase of 373% against the previous year. Over the period under review, imports attained the peak figure at X units in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, trailer and semi-trailer imports dropped notably to $X in 2022. Over the period under review, imports, however, enjoyed a buoyant increase. The pace of growth appeared the most rapid in 2014 with an increase of 417%. Over the period under review, imports attained the maximum at $X in 2021, and then dropped sharply in the following year.

Imports by Country

In 2022, China (X units) constituted the largest supplier of trailer and semi-trailer to Vietnam, with a 88% share of total imports. It was followed by Thailand (X units), with a 2.8% share of total imports. The third position in this ranking was held by Australia (X units), with a 1.7% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +10.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+23.9% per year) and Australia (+37.8% per year).

In value terms, China ($X) constituted the largest supplier of cargo trailers and semi-trailers to Vietnam, comprising 90% of total imports. The second position in the ranking was taken by Thailand ($X), with a 2.1% share of total imports. It was followed by South Korea, with a 1.5% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +18.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+47.5% per year) and South Korea (+6.9% per year).

Import Prices by Country

In 2022, the average trailer and semi-trailer import price amounted to $X per unit, with a decrease of -2% against the previous year. In general, the import price, however, showed a resilient expansion. The most prominent rate of growth was recorded in 2017 when the average import price increased by 40%. The import price peaked at $X per unit in 2021, and then reduced in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+19.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform