Vietnam: Concrete Mixer Market 2024

Concrete Mixer Market Size in Vietnam

In 2021, the Vietnamese concrete mixer market decreased by -14.1% to $X for the first time since 2017, thus ending a three-year rising trend. Over the period under review, consumption saw a slight curtailment. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market remained at a lower figure.

Concrete Mixer Production in Vietnam

In value terms, concrete mixer production dropped to $X in 2021 estimated in export price. Over the period under review, production recorded a deep slump. The growth pace was the most rapid in 2014 with an increase of 43% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2021, production growth remained at a lower figure.

Concrete Mixer Exports

Exports from Vietnam

In 2021, overseas shipments of concrete or mortar mixers were finally on the rise to reach X units after three years of decline. In general, exports enjoyed significant growth. The pace of growth appeared the most rapid in 2013 when exports increased by 147%. The exports peaked at X units in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, concrete mixer exports surged to $X in 2021. Over the period under review, exports posted a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of 157% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

Singapore (X units), Sri Lanka (X units) and China (X units) were the main destinations of concrete mixer exports from Vietnam, together comprising 59% of total exports. These countries were followed by the Philippines, Australia, Russia, the Dominican Republic and Cambodia, which together accounted for a further 33%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Russia (with a CAGR of +947.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for concrete mixer exported from Vietnam were Singapore ($X), Sri Lanka ($X) and China ($X), with a combined 59% share of total exports. These countries were followed by the Philippines, Australia, Russia, the Dominican Republic and Cambodia, which together accounted for a further 33%.

Russia, with a CAGR of +1,069.7%, recorded 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

In 2021, the average concrete mixer export price amounted to $X per unit, rising by 2.9% against the previous year. Overall, export price indicated a resilient increase from 2012 to 2021: its price increased at an average annual rate of +7.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, concrete mixer export price increased by +88.3% against 2012 indices. The most prominent rate of growth was recorded in 2014 when the average export price increased by 33% against the previous year. Over the period under review, the average export prices attained the maximum in 2021 and is likely to continue growth in years to come.

Average prices varied noticeably for the major overseas markets. In 2021, the highest price was recorded for prices to the Philippines ($X per unit) and Russia ($X per unit), while the average price for exports to Singapore ($X per unit) and the Dominican Republic ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Dominican Republic (+12.1%), while the prices for the other major destinations experienced more modest paces of growth.

Concrete Mixer Imports

Imports into Vietnam

In 2021, after three years of growth, there was significant decline in overseas purchases of concrete or mortar mixers, when their volume decreased by -29.8% to X units. Overall, imports, however, recorded a buoyant increase. The growth pace was the most rapid in 2015 when imports increased by 172% against the previous year. Imports peaked at X units in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, concrete mixer imports contracted rapidly to $X in 2021. In general, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when imports increased by 172%. Imports peaked at $X in 2016; however, from 2017 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) was the main supplier of concrete mixer to Vietnam, with a 93% share of total imports. Moreover, concrete mixer imports from China exceeded the figures recorded by the second-largest supplier, Italy (X units), more than tenfold. The third position in this ranking was held by South Korea (X units), with a 0.4% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +14.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+29.0% per year) and South Korea (-34.0% per year).

In value terms, China ($X) constituted the largest supplier of concrete or mortar mixers to Vietnam, comprising 93% of total imports. The second position in the ranking was held by Italy ($X), with a 4% share of total imports. It was followed by South Korea, with a 0.4% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to +7.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+20.2% per year) and South Korea (-38.4% per year).

Import Prices by Country

The average concrete mixer import price stood at $X per unit in 2021, increasing by 4.1% against the previous year. Overall, the import price, however, saw a abrupt contraction. The pace of growth was the most pronounced in 2016 when the average import price increased by 12% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, the countries with the highest prices were Italy ($X per unit) and Germany ($X per unit), while the price for China ($X per unit) and South Korea ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (-6.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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