Vietnam: Market for In-Hand Motor Grinders, Sanders And Planers 2024

Market Size for In-Hand Motor Grinders, Sanders And Planers in Vietnam

In 2021, the Vietnamese market for in-hand motor grinders, sanders and planers increased by 271% to $X, rising for the second consecutive year after two years of decline. In general, consumption recorded a buoyant expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of In-Hand Motor Grinders, Sanders And Planers in Vietnam

In value terms, production of in-hand motor grinders, sanders and planers shrank remarkably to $X in 2021 estimated in export price. Overall, production continues to indicate a sharp decline. Production of peaked at $X in 2020, and then contracted dramatically in the following year.

Exports of In-Hand Motor Grinders, Sanders And Planers

Exports from Vietnam

In 2020, the amount of in-hand motor grinders, sanders and planers exported from Vietnam surged to X units, rising by 5,809% compared with the year before. Over the period under review, exports continue to indicate a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, exports of in-hand motor grinders, sanders and planers surged to $X in 2020. Overall, exports continue to indicate a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X units) was the main destination for exports of in-hand motor grinders, sanders and planers from Vietnam, with a 93% share of total exports. Moreover, exports of in-hand motor grinders, sanders and planers to the United States exceeded the volume sent to the second major destination, China (X units), more than tenfold.

From 2019 to 2020, the average annual growth rate of volume to the United States stood at +6,966.5%.

In value terms, the United States ($X) remains the key foreign market for electromechanical tools for working in the hand, with self-contained electric motor exports from Vietnam, comprising 93% of total exports. The second position in the ranking was taken by China ($X), with a 3.7% share of total exports.

From 2019 to 2020, the average annual rate of growth in terms of value to the United States totaled +6,199.0%.

Export Prices by Country

In 2020, the average export price for in-hand motor grinders, sanders and planers amounted to $X per unit, declining by -10.9% against the previous year. In general, the export price continues to indicate a abrupt decrease. The export price peaked at $X per unit in 2019, and then contracted in the following year.

Average prices varied noticeably for the major export markets. In 2020, the country with the highest price was the United States ($X per unit), while the average price for exports to China totaled $X per unit.

From 2019 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to the United States (-10.9%).

Imports of In-Hand Motor Grinders, Sanders And Planers

Imports into Vietnam

In 2021, supplies from abroad of in-hand motor grinders, sanders and planers increased by 270% to X units, rising for the third year in a row after three years of decline. Overall, imports continue to indicate prominent growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, imports of in-hand motor grinders, sanders and planers surged to $X in 2021. Over the period under review, imports continue to indicate strong growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X units) constituted the largest electromechanical tools for working in the hand, with self-contained electric motor supplier to Vietnam, with a 89% share of total imports. Moreover, imports of in-hand motor grinders, sanders and planers from China exceeded the figures recorded by the second-largest supplier, Japan (X units), more than tenfold. Thailand (X units) ranked third in terms of total imports with a 2.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +14.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+14.7% per year) and Thailand (+35.4% per year).

In value terms, China ($X) constituted the largest supplier of electromechanical tools for working in the hand, with self-contained electric motor to Vietnam, comprising 77% of total imports. The second position in the ranking was taken by Thailand ($X), with a 6.1% share of total imports. It was followed by the United States, with a 5.8% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +11.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+30.9% per year) and the United States (+70.6% per year).

Import Prices by Country

The average import price for in-hand motor grinders, sanders and planers stood at $X per unit in 2021, which is down by -41.4% against the previous year. In general, the import price showed a perceptible setback. The pace of growth appeared the most rapid in 2016 when the average import price increased by 45%. Over the period under review, average import prices reached the maximum at $X per unit in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was the United States ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+0.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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