Vietnam: Industrial Robot Market 2024

Industrial Robot Market Size in Vietnam

In 2021, the Vietnamese industrial robot market decreased by -20.2% to $X, falling for the second year in a row after two years of growth. In general, consumption continues to indicate a noticeable downturn. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Industrial Robot Production in Vietnam

In value terms, industrial robot production reduced to $X in 2021 estimated in export price. Over the period under review, the total production indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +4.6% 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 -11.7% against 2018 indices. The growth pace was the most rapid in 2018 with an increase of 140% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Industrial Robot Exports

Exports from Vietnam

In 2021, overseas shipments of industrial robots for multiple uses increased by 64% to X units, rising for the seventh year in a row after two years of decline. In general, exports enjoyed significant growth. The pace of growth appeared the most rapid in 2015 when exports increased by 195%. Over the period under review, the exports hit record highs in 2021 and are likely to see steady growth in the immediate term.

In value terms, industrial robot exports surged to $X in 2021. Over the period under review, exports enjoyed significant growth. The most prominent rate of growth was recorded in 2015 when exports increased by 209% against the previous year. The exports peaked in 2021 and are likely to see steady growth in the immediate term.

Exports by Country

Singapore (X units), China (X units) and Taiwan (Chinese) (X units) were the main destinations of industrial robot exports from Vietnam, together comprising 83% of total exports.

From 2012 to 2021, the biggest increases were recorded for Singapore (with a CAGR of +116.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), China ($X) and Taiwan (Chinese) ($X) appeared to be the largest markets for industrial robot exported from Vietnam worldwide, together accounting for 83% of total exports.

Singapore, with a CAGR of +119.4%, recorded the highest rates of growth with regard to the value of exports, in terms of 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 2021, the average industrial robot export price amounted to $X per unit, remaining relatively unchanged against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.1%. The pace of growth was the most pronounced in 2014 when the average export price increased by 10%. Over the period under review, the average export prices attained the peak figure at $X per unit in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably for the major foreign markets. In 2021, amid the top suppliers, the countries with the highest prices were Singapore ($X per unit) and the United States ($X per unit), while the average price for exports to China ($X per unit) and Japan ($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 Singapore (+1.4%), while the prices for the other major destinations experienced more modest paces of growth.

Industrial Robot Imports

Imports into Vietnam

In 2021, after two years of growth, there was significant decline in supplies from abroad of industrial robots for multiple uses, when their volume decreased by -14.1% to X units. Overall, imports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 152% against the previous year. Imports peaked at X units in 2020, and then shrank in the following year.

In value terms, industrial robot imports dropped significantly to $X in 2021. Over the period under review, imports, however, recorded a remarkable increase. The pace of growth was the most pronounced in 2017 with an increase of 200%. Imports peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of industrial robot to Vietnam, accounting for a 38% share of total imports. Moreover, industrial robot imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), twofold. The third position in this ranking was taken by South Korea (X units), with a 15% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +39.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+7.7% per year) and South Korea (+17.9% per year).

In value terms, China ($X) constituted the largest supplier of industrial robots for multiple uses to Vietnam, comprising 38% of total imports. The second position in the ranking was held by Japan ($X), with a 17% share of total imports. It was followed by South Korea, with a 15% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to +33.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+2.9% per year) and South Korea (+12.6% per year).

Import Prices by Country

In 2021, the average industrial robot import price amounted to $X per unit, declining by -2.7% against the previous year. Over the period under review, the import price saw a perceptible setback. The pace of growth appeared the most rapid in 2017 when the average import price increased by 19% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2019; however, from 2020 to 2021, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Germany ($X per unit) and Taiwan (Chinese) ($X per unit), while the price for the UK ($X per unit) and India ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (-3.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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