Vietnam: Lawn Mower Market 2024

Lawn Mower Market Size in Vietnam

The Vietnamese lawn mower market contracted rapidly to $X in 2022, falling by -94.5% against the previous year. Overall, consumption showed a sharp reduction. Lawn mower consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Lawn Mower Production in Vietnam

In value terms, lawn mower production reduced slightly to $X in 2022 estimated in export price. Overall, production saw a noticeable slump. The growth pace was the most rapid in 2018 with an increase of 46%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Lawn Mower Exports

Exports from Vietnam

In 2022, overseas shipments of mowers for lawns, parks, golf courses or sports grounds increased by 30,209% to X units, rising for the third year in a row after two years of decline. In general, exports showed a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, lawn mower exports skyrocketed to $X in 2022. Overall, exports saw a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Canada (X units) was the main destination for lawn mower exports from Vietnam, accounting for a 88% share of total exports. It was followed by Australia (X units), with a 2.6% share of total exports. France (X units) ranked third in terms of total exports with a 2.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Canada stood at +7,727.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+142.8% per year) and France (+157.0% per year).

In value terms, Canada ($X) remains the key foreign market for mowers for lawns, parks, golf courses or sports grounds exports from Vietnam, comprising 89% of total exports. The second position in the ranking was held by Australia ($X), with a 2.7% share of total exports. It was followed by France, with a 1.6% share.

From 2012 to 2022, the average annual growth rate of value to Canada amounted to +8,180.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+154.1% per year) and France (+160.8% per year).

Export Prices by Country

The average lawn mower export price stood at $X per unit in 2022, falling by -10.4% against the previous year. In general, the export price recorded a abrupt decline. The most prominent rate of growth was recorded in 2020 when the average export price increased by 98%. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Australia ($X per unit), while the average price for exports to South Korea ($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 Canada (+5.8%), while the prices for the other major destinations experienced more modest paces of growth.

Lawn Mower Imports

Imports into Vietnam

In 2022, supplies from abroad of mowers for lawns, parks, golf courses or sports grounds increased by 67% to X units, rising for the third year in a row after three years of decline. Overall, imports enjoyed resilient growth. The most prominent rate of growth was recorded in 2013 with an increase of 136%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, lawn mower imports soared to $X in 2022. Over the period under review, imports saw a prominent expansion. The pace of growth was the most pronounced in 2013 with an increase of 100% against the previous year. Imports peaked in 2022 and are likely to continue growth in years to come.

Imports by Country

In 2022, China (X units) constituted the largest lawn mower supplier to Vietnam, with a 62% share of total imports. Moreover, lawn mower imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), fourfold. Poland (X units) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +21.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+13.7% per year) and Poland (+28.7% per year).

In value terms, the largest lawn mower suppliers to Vietnam were China ($X), Poland ($X) and Japan ($X), with a combined 76% share of total imports. The United States and Thailand lagged somewhat behind, together comprising a further 20%.

In terms of the main suppliers, Thailand, with a CAGR of +31.0%, recorded 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 lawn mower import price stood at $X per unit in 2022, shrinking by -19.4% against the previous year. Overall, the import price saw a perceptible reduction. The pace of growth was the most pronounced in 2021 when the average import price increased by 27% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, 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 the United States ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+10.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform