Vietnam: Interchangeable Tool Market 2025

Interchangeable Tool Market Size in Vietnam

The Vietnamese interchangeable tool market skyrocketed to $X in 2021, jumping by 15% against the previous year. In general, consumption, however, showed a slight descent. Interchangeable tool consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Interchangeable Tool Production in Vietnam

In value terms, interchangeable tool production rose sharply to $X in 2021 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of 42% against the previous year. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Interchangeable Tool Exports

Exports from Vietnam

In 2021, shipments abroad of interchangeable tools for hand tools decreased by -42% to X tons for the first time since 2018, thus ending a two-year rising trend. Overall, exports, however, showed buoyant growth. The pace of growth was the most pronounced in 2017 when exports increased by 46%. The exports peaked at X tons in 2020, and then contracted notably in the following year.

In value terms, interchangeable tool exports declined rapidly to $X in 2021. Over the period under review, exports, however, recorded a prominent expansion. The pace of growth appeared the most rapid in 2017 with an increase of 30%. The exports peaked at $X in 2020, and then fell significantly in the following year.

Exports by Country

The United States (X tons), China (X tons) and Japan (X tons) were the main destinations of interchangeable tool exports from Vietnam, with a combined 98% share of total exports. These countries were followed by Germany, Malaysia, Australia and Taiwan (Chinese), which together accounted for a further 59%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Australia (with a CAGR of +68.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for interchangeable tool exported from Vietnam were the United States ($X), Japan ($X) and China ($X).

Among the main countries of destination, the United States, with a CAGR of +48.1%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average interchangeable tool export price stood at $X per ton in 2021, with an increase of 20% against the previous year. Overall, the export price, however, continues to indicate a noticeable reduction. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Japan ($X per ton), while the average price for exports to Australia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+12.1%), while the prices for the other major destinations experienced mixed trend patterns.

Interchangeable Tool Imports

Imports into Vietnam

Interchangeable tool imports into Vietnam contracted to X tons in 2021, dropping by -12.9% against the previous year's figure. Overall, imports continue to indicate a mild curtailment. The pace of growth was the most pronounced in 2018 with an increase of 106% against the previous year. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, interchangeable tool imports fell to $X in 2021. Over the period under review, total imports indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +4.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -20.5% against 2018 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 113% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) was the main interchangeable tool supplier to Vietnam, with a 405% share of total imports. Moreover, interchangeable tool imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), more than tenfold. Japan (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +27.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+12.8% per year) and Japan (+1.4% per year).

In value terms, China ($X) constituted the largest supplier of interchangeable tools for hand tools to Vietnam, comprising 78% of total imports. The second position in the ranking was held by Japan ($X), with a 29% share of total imports. It was followed by Taiwan (Chinese), with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +20.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+5.8% per year) and Taiwan (Chinese) (+9.0% per year).

Import Prices by Country

The average interchangeable tool import price stood at $X per ton in 2021, flattening at the previous year. Overall, the import price saw a remarkable increase. The growth pace was the most rapid in 2016 when the average import price increased by 168% against the previous year. As a result, import price attained the peak level of $X per ton. From 2017 to 2021, the average import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+4.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :