Vietnam: Shaft Coupling Market 2024

Shaft Coupling Market Size in Vietnam

The Vietnamese shaft coupling market fell to $X in 2022, waning by -3.5% against the previous year. Over the period under review, consumption saw a deep setback. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Shaft Coupling Production in Vietnam

In value terms, shaft coupling production reduced to $X in 2022 estimated in export price. Overall, production showed a abrupt downturn. The pace of growth was the most pronounced in 2013 with an increase of 54% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Shaft Coupling Exports

Exports from Vietnam

In 2022, the amount of clutches and shaft couplings exported from Vietnam shrank to X tons, with a decrease of -12.3% compared with the year before. In general, exports, however, enjoyed a pronounced expansion. The growth pace was the most rapid in 2019 when exports increased by 158%. Over the period under review, the exports hit record highs at X tons in 2021, and then fell in the following year.

In value terms, shaft coupling exports dropped to $X in 2022. Over the period under review, exports, however, enjoyed a prominent increase. The most prominent rate of growth was recorded in 2019 when exports increased by 142% against the previous year. The exports peaked at $X in 2021, and then fell in the following year.

Exports by Country

The United States (X tons), Japan (X tons) and Malaysia (X tons) were the main destinations of shaft coupling exports from Vietnam, together accounting for 81% of total exports. Italy, Indonesia, Taiwan (Chinese), Germany and Singapore lagged somewhat behind, together accounting for a further 16%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Indonesia (with a CAGR of +158.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for shaft coupling exported from Vietnam were the United States ($X), Japan ($X) and Malaysia ($X), together accounting for 81% of total exports. Italy, Indonesia, Taiwan (Chinese), Germany and Singapore lagged somewhat behind, together accounting for a further 16%.

Indonesia, with a CAGR of +152.6%, saw the highest growth rate of the value of exports, among 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 shaft coupling export price stood at $X per ton in 2022, increasing by 2.6% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. The growth pace was the most rapid in 2013 when the average export price increased by 34% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the average export prices failed to regain momentum.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were Singapore ($X per ton) and Italy ($X per ton), while the average price for exports to Taiwan (Chinese) ($X per ton) and the United States ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+17.0%), while the prices for the other major destinations experienced more modest paces of growth.

Shaft Coupling Imports

Imports into Vietnam

In 2022, approx. X tons of clutches and shaft couplings were imported into Vietnam; declining by -3.4% on the year before. In general, imports, however, showed buoyant growth. The pace of growth appeared the most rapid in 2014 when imports increased by 110%. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, shaft coupling imports declined to $X in 2022. Over the period under review, imports, however, recorded prominent growth. The growth pace was the most rapid in 2014 when imports increased by 74% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of shaft coupling to Vietnam, with a 53% share of total imports. Moreover, shaft coupling imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), threefold. The third position in this ranking was taken by Germany (X tons), with a 7.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +22.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+10.1% per year) and Germany (+6.4% per year).

In value terms, China ($X) constituted the largest supplier of clutches and shaft couplings to Vietnam, comprising 52% of total imports. The second position in the ranking was held by Japan ($X), with a 19% share of total imports. It was followed by Germany, with a 6.9% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +21.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+9.4% per year) and Germany (+4.9% per year).

Import Prices by Country

In 2022, the average shaft coupling import price amounted to $X per ton, approximately reflecting the previous year. Overall, the import price recorded a slight contraction. The most prominent rate of growth was recorded in 2020 when the average import price increased by 14% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Taiwan (Chinese) ($X per ton) and Japan ($X per ton), while the price for Thailand ($X per ton) and Germany ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (-0.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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