Vietnam: Hydraulic Jack Market 2025

Hydraulic Jack Market Size in Vietnam

The Vietnamese hydraulic jack market contracted modestly to $X in 2022, falling by -3.7% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +5.5% 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 -8.7% against 2019 indices. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the market remained at a lower figure.

Hydraulic Jack Exports

Exports from Vietnam

In 2022, approx. X units of hydraulic jacks and hoists for raising vehicles were exported from Vietnam; with an increase of 10% against 2021 figures. In general, exports enjoyed a significant increase. The pace of growth appeared the most rapid in 2020 when exports increased by 341% against the previous year. As a result, the exports attained the peak of X units. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, hydraulic jack exports skyrocketed to $X in 2022. Over the period under review, exports posted significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 179% against the previous year. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The United States (X units), China (X units) and Lao People's Democratic Republic (X units) were the main destinations of hydraulic jack exports from Vietnam, together accounting for 89% of total exports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +129.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for hydraulic jack exported from Vietnam were China ($X), the United States ($X) and Lao People's Democratic Republic ($X), with a combined 52% share of total exports.

Lao People's Democratic Republic, with a CAGR of +107.3%, saw 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

In 2022, the average hydraulic jack export price amounted to $X per unit, picking up by 15% against the previous year. In general, the export price enjoyed a slight expansion. The most prominent rate of growth was recorded in 2013 an increase of 82%. Over the period under review, the average export prices hit record highs at $X per unit in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Lao People's Democratic Republic ($X per unit), while the average price for exports to the United States ($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 Lao People's Democratic Republic (+20.7%), while the prices for the other major destinations experienced mixed trend patterns.

Hydraulic Jack Imports

Imports into Vietnam

Hydraulic jack imports into Vietnam dropped to X units in 2022, reducing by -9.1% against the previous year's figure. In general, total imports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +7.0% 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 +46.9% against 2017 indices. The most prominent rate of growth was recorded in 2013 with an increase of 41%. Over the period under review, imports hit record highs at X units in 2021, and then shrank in the following year.

In value terms, hydraulic jack imports contracted modestly to $X in 2022. Over the period under review, imports, however, enjoyed resilient growth. The most prominent rate of growth was recorded in 2015 with an increase of 68%. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X units) was the main hydraulic jack supplier to Vietnam, with a approx. 98% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +7.8%.

In value terms, China ($X) constituted the largest supplier of hydraulic jacks and hoists for raising vehicles to Vietnam.

From 2012 to 2022, the average annual growth rate of value from China amounted to +8.3%.

Import Prices by Country

In 2022, the average hydraulic jack import price amounted to $X per unit, increasing by 9.9% against the previous year. Over the period under review, the import price, however, continues to indicate a mild shrinkage. The most prominent rate of growth was recorded in 2015 an increase of 44% against the previous year. As a result, import price reached the peak level of $X per unit. From 2016 to 2022, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for China amounted to +0.4% per year.

Source: IndexBox Platform

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