Vietnam: Electrical Signalling Apparatus Market 2024

Electrical Signalling Apparatus Market Size in Vietnam

The Vietnamese electrical signalling apparatus market soared to $X in 2022, picking up by 21% against the previous year. In general, the total consumption indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -16.9% against 2020 indices. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Electrical Signalling Apparatus Production in Vietnam

In value terms, electrical signalling apparatus production expanded significantly to $X in 2022 estimated in export price. Over the period under review, production, however, enjoyed a buoyant expansion. The growth pace was the most rapid in 2014 with an increase of 119% against the previous year. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Electrical Signalling Apparatus Exports

Exports from Vietnam

In 2022, shipments abroad of electrical apparatus for sound or visual signalling decreased by -27.8% to X units for the first time since 2016, thus ending a five-year rising trend. In general, exports, however, showed a significant expansion. The pace of growth appeared the most rapid in 2014 when exports increased by 564% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2021, and then fell dramatically in the following year.

In value terms, electrical signalling apparatus exports fell markedly to $X in 2022. Over the period under review, exports, however, recorded a significant increase. The pace of growth appeared the most rapid in 2014 when exports increased by 724% against the previous year. The exports peaked at $X in 2021, and then contracted rapidly in the following year.

Exports by Country

The United States (X units), Germany (X units) and Japan (X units) were the main destinations of electrical signalling apparatus exports from Vietnam, together comprising 71% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Germany (with a CAGR of +395.5%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), the United Arab Emirates ($X) and Germany ($X) were the largest markets for electrical signalling apparatus exported from Vietnam worldwide, together comprising 71% of total exports.

In terms of the main countries of destination, Germany, with a CAGR of +389.4%, 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

In 2022, the average electrical signalling apparatus export price amounted to $X per unit, stabilizing at the previous year. Overall, export price indicated a prominent increase from 2012 to 2022: its price increased at an average annual rate of +8.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, electrical signalling apparatus export price increased by +2.9% against 2020 indices. The most prominent rate of growth was recorded in 2013 an increase of 36%. Over the period under review, the average export prices attained the peak figure at $X per unit in 2019; however, from 2020 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 the United Arab Emirates ($X per unit), while the average price for exports to the UK ($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 the UK (+8.5%), while the prices for the other major destinations experienced more modest paces of growth.

Electrical Signalling Apparatus Imports

Imports into Vietnam

In 2022, the amount of electrical apparatus for sound or visual signalling imported into Vietnam surged to X units, increasing by 18% on the year before. Overall, imports enjoyed a significant expansion. The growth pace was the most rapid in 2020 when imports increased by 258%. As a result, imports reached the peak of X units. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, electrical signalling apparatus imports totaled $X in 2022. Over the period under review, imports recorded a significant increase. The most prominent rate of growth was recorded in 2020 when imports increased by 354%. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

China (X units), the United Arab Emirates (X units) and Indonesia (X units) were the main suppliers of electrical signalling apparatus imports to Vietnam, with a combined 70% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United Arab Emirates (with a CAGR of +658.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), China ($X) and Indonesia ($X) were the largest electrical signalling apparatus suppliers to Vietnam, with a combined 80% share of total imports.

In terms of the main suppliers, the United Arab Emirates, with a CAGR of +381.2%, recorded 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

The average electrical signalling apparatus import price stood at $X per unit in 2022, shrinking by -11.6% against the previous year. Over the period under review, the import price continues to indicate a pronounced shrinkage. The growth pace was the most rapid in 2020 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 2015; however, from 2016 to 2022, import prices failed to regain momentum.

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 the United Arab Emirates ($X per unit), while the price for Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (-5.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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