Vietnam: Market for Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines 2024

Market Size for Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines in Vietnam

The Vietnamese fuel or lubricating pump market shrank rapidly to $X in 2021, which is down by -31.9% against the previous year. In general, consumption, however, continues to indicate a pronounced increase. As a result, consumption attained the peak level of $X, and then contracted notably in the following year.

Production of Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines in Vietnam

In value terms, fuel or lubricating pump production contracted markedly to $X in 2021 estimated in export price. Overall, production, however, posted resilient growth. The most prominent rate of growth was recorded in 2020 when the production volume increased by 530%. As a result, production attained the peak level of $X, and then declined remarkably in the following year.

Exports of Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines

Exports from Vietnam

In 2021, shipments abroad of fuel, lubricating or cooling-medium pumps for internal combustion engines increased by 13% to X units, rising for the third consecutive year after two years of decline. Overall, exports enjoyed a significant increase. The pace of growth was the most pronounced in 2013 with an increase of 1,190%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, fuel or lubricating pump exports surged to $X in 2021. Over the period under review, exports posted a significant increase. The pace of growth appeared the most rapid in 2013 when exports increased by 875% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in years to come.

Exports by Country

South Korea (X units), Mexico (X units) and China (X units) were the main destinations of fuel or lubricating pump exports from Vietnam, with a combined 76% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Mexico (with a CAGR of +963.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for fuel or lubricating pump exported from Vietnam were South Korea ($X), Mexico ($X) and China ($X), with a combined 76% share of total exports.

Mexico, with a CAGR of +1,065.2%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average fuel or lubricating pump export price stood at $X per unit in 2021, rising by 13% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average export price increased by 29%. Over the period under review, the average export prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably for the major foreign markets. In 2021, the countries with the highest prices were Mexico ($X per unit) and Japan ($X per unit), while the average price for exports to Italy ($X per unit) and Thailand ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (+9.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines

Imports into Vietnam

Fuel or lubricating pump imports into Vietnam surged to X units in 2021, increasing by 32% against 2020 figures. In general, total imports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +6.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 when imports increased by 54%. Over the period under review, imports reached the maximum at X units in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, fuel or lubricating pump imports soared to $X in 2021. Overall, total imports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +9.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when imports increased by 63%. Imports peaked at $X in 2016; however, from 2017 to 2021, imports failed to regain momentum.

Imports by Country

Indonesia (X units), China (X units) and Japan (X units) were the main suppliers of fuel or lubricating pump imports to Vietnam, together accounting for 57% of total imports. Germany, Italy, South Korea, Thailand and the United States lagged somewhat behind, together comprising a further 30%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Germany (with a CAGR of +21.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest fuel or lubricating pump suppliers to Vietnam were Indonesia ($X), China ($X) and Japan ($X), together comprising 57% of total imports. These countries were followed by Germany, Italy, South Korea, Thailand and the United States, which together accounted for a further 30%.

Germany, with a CAGR of +25.3%, recorded the highest growth rate of the value of imports, in terms of the main suppliers 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 fuel or lubricating pump import price amounted to $X per unit, dropping by -1.8% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.7%. The pace of growth appeared the most rapid in 2018 when the average import price increased by 12%. The import price peaked at $X per unit in 2020, and then contracted in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2021, the countries with the highest prices were Japan ($X per unit) and the United States ($X per unit), while the price for Thailand ($X per unit) and South Korea ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+2.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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