Vietnam: Market for Gearboxes and Speed Changers 2024

Market Size for Gearboxes and Speed Changers in Vietnam

In 2022, the Vietnamese gearboxes and speed changers market increased by X% to $X, rising for the second year in a row after two years of decline. In general, consumption saw buoyant growth. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the immediate term.

Production of Gearboxes and Speed Changers in Vietnam

In value terms, gearboxes and speed changers production reduced to $X in 2022 estimated in export price. Overall, production, however, enjoyed prominent growth. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Exports of Gearboxes and Speed Changers

Exports from Vietnam

In 2022, after two years of growth, there was significant decline in overseas shipments of gearboxes and speed changers, when their volume decreased by X% to X tons. Overall, total exports indicated tangible growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, the exports reached the peak of X tons, and then fell in the following year.

In value terms, gearboxes and speed changers exports declined to $X in 2022. Over the period under review, exports, however, showed a buoyant increase. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X tons) was the main destination for gearboxes and speed changers exports from Vietnam, accounting for a X% share of total exports. Moreover, gearboxes and speed changers exports to the United Arab Emirates exceeded the volume sent to the second major destination, Myanmar (X tons), sixfold.

From 2012 to 2022, the average annual growth rate of volume to the United Arab Emirates totaled X%.

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for gearboxes and speed changers exports from Vietnam, comprising X% of total exports. The second position in the ranking was held by Myanmar ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the United Arab Emirates totaled X%.

Export Prices by Country

In 2022, the average gearboxes and speed changers export price amounted to $X per ton, with an increase of X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2017 an increase of X%. Over the period under review, the average export prices attained the maximum at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Myanmar ($X per ton), while the average price for exports to the United Arab Emirates amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Czech Republic (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Gearboxes and Speed Changers

Imports into Vietnam

In 2022, imports of gearboxes and speed changers into Vietnam soared to X tons, surging by X% against the previous year's figure. In general, imports posted a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, gearboxes and speed changers imports dropped remarkably to $X in 2022. Over the period under review, total imports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2017 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X%. As a result, imports reached the peak of $X, and then fell remarkably in the following year.

Imports by Country

In 2022, the United Arab Emirates (X tons) was the main supplier of gearboxes and speed changers to Vietnam, accounting for a approx. X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United Arab Emirates stood at X%.

In value terms, the United Arab Emirates ($X) constituted the largest supplier of gearboxes and speed changers to Vietnam.

From 2012 to 2022, the average annual growth rate of value from the United Arab Emirates amounted to X%.

Import Prices by Country

The average gearboxes and speed changers import price stood at $X per ton in 2022, waning by X% against the previous year. Overall, the import price faced a precipitous curtailment. The most prominent rate of growth was recorded in 2020 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for the United Arab Emirates.

From 2012 to 2022, the rate of growth in terms of prices for the United Arab Emirates amounted to X% per year.

Source: IndexBox Platform

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