Vietnam: Market for Equipment For Scaffolding, Shuttering, Propping Or Pit Propping 2024

Market Size for Equipment For Scaffolding, Shuttering, Propping Or Pit Propping in Vietnam

The Vietnamese market for equipment for scaffolding, shuttering, propping or pit propping declined to $X in 2021, dropping by -8.7% against the previous year. In general, consumption continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Production of Equipment For Scaffolding, Shuttering, Propping Or Pit Propping in Vietnam

In value terms, scaffolding, shuttering, and propping equipment production rose notably to $X in 2021 estimated in export price. Over the period under review, the total production indicated a modest increase from 2012 to 2021: its value increased at an average annual rate of +1.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -24.1% against 2018 indices. The pace of growth appeared the most rapid in 2018 with an increase of 74%. As a result, production reached the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Exports of Equipment For Scaffolding, Shuttering, Propping Or Pit Propping

Exports from Vietnam

In 2021, shipments abroad of equipment for scaffolding, shuttering, propping or pit propping increased by 23% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, exports recorded significant growth. The most prominent rate of growth was recorded in 2013 when exports increased by 63% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are likely to see gradual growth in the immediate term.

In value terms, scaffolding, shuttering, and propping equipment exports skyrocketed to $X in 2021. In general, exports continue to indicate significant growth. The pace of growth was the most pronounced in 2014 with an increase of 81%. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Japan (X tons) was the main destination for scaffolding, shuttering, and propping equipment exports from Vietnam, with a 73% share of total exports. Moreover, scaffolding, shuttering, and propping equipment exports to Japan exceeded the volume sent to the second major destination, the United States (X tons), more than tenfold. Bangladesh (X tons) ranked third in terms of total exports with a 3.6% share.

From 2012 to 2021, the average annual growth rate of volume to Japan stood at +92.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+15.2% per year) and Bangladesh (+15.3% per year).

In value terms, Japan ($X) remains the key foreign market for equipment for scaffolding, shuttering, propping or pit propping exports from Vietnam, comprising 73% of total exports. The second position in the ranking was held by the United States ($X), with a 6.3% share of total exports. It was followed by Bangladesh, with a 3.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Japan amounted to +84.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+17.6% per year) and Bangladesh (+18.4% per year).

Export Prices by Country

The average export price for equipment for scaffolding, shuttering, propping or pit propping stood at $X per ton in 2021, surging by 18% against the previous year. Over the last nine years, it increased at an average annual rate of +1.4%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2015; afterwards, it flattened through to 2021.

Average prices varied noticeably for the major overseas markets. In 2021, amid the top suppliers, the highest price was recorded for prices to India ($X per ton) and Lao People's Democratic Republic ($X per ton), while the average price for exports to Thailand ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to India (+4.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Equipment For Scaffolding, Shuttering, Propping Or Pit Propping

Imports into Vietnam

In 2021, scaffolding, shuttering, and propping equipment imports into Vietnam reduced dramatically to X tons, with a decrease of -48.4% on 2020 figures. In general, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 190%. Imports peaked at X tons in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, scaffolding, shuttering, and propping equipment imports dropped sharply to $X in 2021. Overall, imports saw a mild contraction. The most prominent rate of growth was recorded in 2013 when imports increased by 217% against the previous year. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

Ukraine (X tons), China (X tons) and Russia (X tons) were the main suppliers of scaffolding, shuttering, and propping equipment imports to Vietnam, with a combined 90% share of total imports. Taiwan (Chinese), Brunei Darussalam, Singapore and South Korea lagged somewhat behind, together accounting for a further 7.1%.

From 2012 to 2021, the biggest increases were recorded for Brunei Darussalam (with a CAGR of +107.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest scaffolding, shuttering, and propping equipment suppliers to Vietnam were Ukraine ($X), China ($X) and Russia ($X), with a combined 92% share of total imports. Taiwan (Chinese), Singapore, South Korea and Brunei Darussalam lagged somewhat behind, together comprising a further 5.4%.

Among the main suppliers, Brunei Darussalam, with a CAGR of +47.5%, 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 2021, the average import price for equipment for scaffolding, shuttering, propping or pit propping amounted to $X per ton, declining by -8.3% against the previous year. In general, the import price recorded a mild curtailment. The pace of growth was the most pronounced in 2018 when the average import price increased by 11%. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for Brunei Darussalam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ukraine (+1.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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