Vietnam: Centrifuges Market 2025

Centrifuges Market Size in Vietnam

In 2021, after two years of decline, there was significant growth in the Vietnamese centrifuges market, when its value increased by 98% to $X. Over the period under review, consumption showed a buoyant expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Centrifuges Exports

Exports from Vietnam

In 2021, shipments abroad of centrifuges increased by 59% to X units for the first time since 2018, thus ending a two-year declining trend. Overall, exports enjoyed a significant increase. The most prominent rate of growth was recorded in 2018 when exports increased by 379%. As a result, the exports attained the peak of X units. From 2019 to 2021, the growth of the exports remained at a lower figure.

In value terms, centrifuges exports fell dramatically to $X in 2021. In general, exports recorded a significant increase. The most prominent rate of growth was recorded in 2018 when exports increased by 174% against the previous year. Over the period under review, the exports attained the maximum at $X in 2020, and then reduced remarkably in the following year.

Exports by Country

Indonesia (X units) was the main destination for centrifuges exports from Vietnam, accounting for a 43% share of total exports. Moreover, centrifuges exports to Indonesia exceeded the volume sent to the second major destination, Lao People's Democratic Republic (X units), threefold. The third position in this ranking was held by South Korea (X units), with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Indonesia stood at +46.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lao People's Democratic Republic (+36.1% per year) and South Korea (+44.2% per year).

In value terms, Lao People's Democratic Republic ($X) remains the key foreign market for centrifuges exports from Vietnam, comprising 58% of total exports. The second position in the ranking was taken by Japan ($X), with a 15% share of total exports. It was followed by Indonesia, with a 4.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Lao People's Democratic Republic stood at +68.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+92.5% per year) and Indonesia (+43.9% per year).

Export Prices by Country

In 2021, the average centrifuges export price amounted to $X per unit, which is down by -57.8% against the previous year. Overall, the export price, however, showed a strong increase. The growth pace was the most rapid in 2020 an increase of 228% against the previous year. As a result, the export price attained the peak level of $X per unit, and then reduced notably in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Lao People's Democratic Republic ($X per unit), while the average price for exports to Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Mozambique (+85.4%), while the prices for the other major destinations experienced more modest paces of growth.

Centrifuges Imports

Imports into Vietnam

In 2021, the amount of centrifuges imported into Vietnam soared to X units, increasing by 90% compared with 2020. Overall, imports continue to indicate strong growth. The most prominent rate of growth was recorded in 2018 with an increase of 105% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, centrifuges imports surged to $X in 2021. In general, imports continue to indicate a pronounced increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X units) constituted the largest centrifuges supplier to Vietnam, with a 80% share of total imports. Moreover, centrifuges imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X units), more than tenfold. The third position in this ranking was held by Germany (X units), with a 3.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +28.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+40.9% per year) and Germany (+0.2% per year).

In value terms, Germany ($X), China ($X) and India ($X) appeared to be the largest centrifuges suppliers to Vietnam, with a combined 68% share of total imports. These countries were followed by Taiwan (Chinese) and Malaysia, which together accounted for a further 2.2%.

In terms of the main suppliers, Malaysia, with a CAGR of +69.2%, saw the highest growth rate of 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

The average centrifuges import price stood at $X per unit in 2021, picking up by 8.6% against the previous year. Over the period under review, the import price, however, saw a deep contraction. The growth pace was the most rapid in 2016 an increase of 48%. Over the period under review, average import prices reached the maximum at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+6.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform