Vietnam: Electric Hand-Dryer Market 2024

Electric Hand-Dryer Market Size in Vietnam

The Vietnamese electric hand-dryer market shrank dramatically to $X in 2021, which is down by -27.1% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, recorded a resilient increase. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market failed to regain momentum.

Electric Hand-Dryer Exports

Exports from Vietnam

In 2021, electric hand-dryer exports from Vietnam shrank markedly to X units, with a decrease of -33.7% against the previous year's figure. In general, exports, however, recorded a resilient expansion. The pace of growth was the most pronounced in 2018 when exports increased by 312%. The exports peaked at X units in 2020, and then fell significantly in the following year.

In value terms, electric hand-dryer exports dropped significantly to $X in 2021. Overall, exports, however, saw a temperate expansion. The pace of growth was the most pronounced in 2018 with an increase of 260% against the previous year. The exports peaked at $X in 2020, and then reduced markedly in the following year.

Exports by Country

The United States (X units), Hong Kong SAR (X units) and the Philippines (X units) were the main destinations of electric hand-dryer exports from Vietnam, together comprising 80% of total exports.

From 2012 to 2021, the biggest increases were recorded for Hong Kong SAR (with a CAGR of +283.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Hong Kong SAR ($X) and Cambodia ($X) appeared to be the largest markets for electric hand-dryer exported from Vietnam worldwide, with a combined 71% share of total exports.

Among the main countries of destination, Hong Kong SAR, with a CAGR of +66.3%, saw the highest growth rate of 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 electric hand-dryer export price stood at $X per unit in 2021, reducing by -53.5% against the previous year. Over the period under review, the export price saw a noticeable descent. The pace of growth appeared the most rapid in 2017 when the average export price increased by 30% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2018 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Cambodia ($X per unit), while the average price for exports to Sweden ($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 Angola (+30.4%), while the prices for the other major destinations experienced more modest paces of growth.

Electric Hand-Dryer Imports

Imports into Vietnam

In 2021, imports of electric hand-drying apparatus into Vietnam fell dramatically to X units, which is down by -21.4% compared with the previous year. Overall, imports, however, posted a prominent expansion. The pace of growth appeared the most rapid in 2017 when imports increased by 159% against the previous year. Over the period under review, imports reached the peak figure at X units in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, electric hand-dryer imports declined significantly to $X in 2021. In general, imports, however, continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2017 with an increase of 142% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest supplier of electric hand-dryer to Vietnam, accounting for a 61% share of total imports. Moreover, electric hand-dryer imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X units), threefold. The third position in this ranking was held by Japan (X units), with an 8.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +21.4%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+2.4% per year) and Japan (+15.1% per year).

In value terms, China ($X) constituted the largest supplier of electric hand-drying apparatus to Vietnam, comprising 62% of total imports. The second position in the ranking was held by South Korea ($X), with a 21% share of total imports. It was followed by Japan, with an 8.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +17.3%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+6.4% per year) and Japan (+13.0% per year).

Import Prices by Country

The average electric hand-dryer import price stood at $X per unit in 2021, waning by -10.5% against the previous year. In general, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average import price increased by 25%. Over the period under review, average import prices hit record highs at $X per unit in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Thailand ($X per unit), while the price for Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+3.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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