Vietnam: Market for Diesel Engines (Other Than For Motor Vehicles And Aircraft) 2024

Market Size for Diesel Engines (Other Than For Motor Vehicles And Aircraft) in Vietnam

The Vietnamese market for diesel engines (other than for motor vehicles and aircraft) rose sharply to $X in 2022, with an increase of 11% against the previous year. In general, consumption, however, saw a noticeable reduction. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Production of Diesel Engines (Other Than For Motor Vehicles And Aircraft) in Vietnam

In value terms, production of diesel engines (other than for motor vehicles and aircraft) reduced to $X in 2022 estimated in export price. In general, production recorded a abrupt decrease. The pace of growth was the most pronounced in 2014 with an increase of 58% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2022, production of growth failed to regain momentum.

Exports of Diesel Engines (Other Than For Motor Vehicles And Aircraft)

Exports from Vietnam

In 2022, after two years of growth, there was significant decline in overseas shipments of diesel engines (other than for motor vehicles and aircraft), when their volume decreased by -9.5% to X units. Overall, exports showed a abrupt descent. The pace of growth was the most pronounced in 2015 with an increase of 57%. As a result, the exports attained the peak of X units. From 2016 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of diesel engines (other than for motor vehicles and aircraft) reduced rapidly to $X in 2022. Over the period under review, exports saw a abrupt slump. The pace of growth appeared the most rapid in 2021 when exports increased by 85% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Jordan (X units), Sri Lanka (X units) and China (X units) were the main destinations of exports of diesel engines (other than for motor vehicles and aircraft) from Vietnam, with a combined 49% share of total exports. Japan, Malaysia, Iran, South Africa, the Netherlands, Iraq, the Philippines and Myanmar lagged somewhat behind, together accounting for a further 33%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Japan (with a CAGR of +54.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for diesel engines (other than for motor vehicles and aircraft) exported from Vietnam were Jordan ($X), Sri Lanka ($X) and Malaysia ($X), with a combined 42% share of total exports. Iran, South Africa, Japan, China, the Netherlands, Iraq, the Philippines and Myanmar lagged somewhat behind, together comprising a further 22%.

Among the main countries of destination, Japan, with a CAGR of +37.5%, recorded the highest rates of growth with regard to 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

The average export price for diesel engines (other than for motor vehicles and aircraft) stood at $X per unit in 2022, dropping by -14.8% against the previous year. In general, the export price, however, enjoyed a noticeable increase. The most prominent rate of growth was recorded in 2016 when the average export price increased by 56%. The export price peaked at $X per unit in 2021, and then dropped in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Malaysia ($X per unit), while the average price for exports to China ($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 Malaysia (+8.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Diesel Engines (Other Than For Motor Vehicles And Aircraft)

Imports into Vietnam

Imports of diesel engines (other than for motor vehicles and aircraft) into Vietnam surged to X units in 2022, picking up by 15% compared with the year before. Over the period under review, imports posted a modest expansion. The pace of growth appeared the most rapid in 2019 with an increase of 268% against the previous year. Over the period under review, imports of attained the maximum at X units in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, imports of diesel engines (other than for motor vehicles and aircraft) surged to $X in 2022. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when imports increased by 40% against the previous year. Over the period under review, imports of hit record highs at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

China (X units), Japan (X units) and South Korea (X units) were the main suppliers of imports of diesel engines (other than for motor vehicles and aircraft) to Vietnam, together comprising 86% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +22.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest diesel engines (other than for motor vehicles and aircraft) suppliers to Vietnam were China ($X), South Korea ($X) and Japan ($X), together accounting for 79% of total imports. Thailand, Germany, the UK, Italy and Hong Kong SAR lagged somewhat behind, together comprising a further 4.7%.

In terms of the main suppliers, Thailand, with a CAGR of +21.6%, saw the highest rates of growth with regard to 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

In 2022, the average import price for diesel engines (other than for motor vehicles and aircraft) amounted to $X per unit, picking up by 8.8% against the previous year. In general, the import price, however, showed a slight downturn. The most prominent rate of growth was recorded in 2015 an increase of 941% against the previous year. The import price peaked at $X per unit in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+22.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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