Vietnam: Market for Lead-Acid Accumulators (Excluding Starter Batteries) 2024

Market Size for Lead-Acid Accumulators (Excluding Starter Batteries) in Vietnam

After two years of decline, the Vietnamese market for lead-acid accumulators (excluding starter batteries) increased by 35% to $X in 2022. Over the period under review, the total consumption indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Lead-acid accumulators (excluding starter batteries) consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Production of Lead-Acid Accumulators (Excluding Starter Batteries) in Vietnam

In value terms, lead-acid accumulators (excluding starter batteries) production amounted to $X in 2022 estimated in export price. In general, production, however, saw a strong expansion. The most prominent rate of growth was recorded in 2018 with an increase of 25% against the previous year. Lead-acid accumulators (excluding starter batteries) production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Lead-Acid Accumulators (Excluding Starter Batteries)

Exports from Vietnam

After four years of growth, shipments abroad of lead-acid accumulators (excluding starter batteries) decreased by -12.3% to X units in 2022. Overall, exports, however, continue to indicate prominent growth. The most prominent rate of growth was recorded in 2020 when exports increased by 47% against the previous year. The exports peaked at X units in 2021, and then dropped in the following year.

In value terms, lead-acid accumulators (excluding starter batteries) exports reached $X in 2022. In general, exports, however, recorded a resilient expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 26%. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X units) was the main destination for lead-acid accumulators (excluding starter batteries) exports from Vietnam, accounting for a 30% share of total exports. Moreover, lead-acid accumulators (excluding starter batteries) exports to the United States exceeded the volume sent to the second major destination, the Philippines (X units), threefold. The third position in this ranking was held by the Netherlands (X units), with a 7.2% share.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled +22.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (-2.1% per year) and the Netherlands (+20.2% per year).

In value terms, the United States ($X) remains the key foreign market for lead-acid accumulators (excluding starter batteries) exports from Vietnam, comprising 29% of total exports. The second position in the ranking was taken by the Philippines ($X), with a 10% share of total exports. It was followed by the Netherlands, with a 6.9% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +14.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (-2.7% per year) and the Netherlands (+12.8% per year).

Export Prices by Country

In 2022, the average export price for lead-acid accumulators (excluding starter batteries) amounted to $X per unit, growing by 15% against the previous year. In general, the export price, however, recorded a pronounced descent. The growth pace was the most rapid in 2017 when the average export price increased by 37%. Over the period under review, the average export prices hit record highs at $X per unit in 2018; however, from 2019 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 Italy ($X per unit), while the average price for exports to Singapore ($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 the Philippines (-0.6%), while the prices for the other major destinations experienced a decline.

Imports of Lead-Acid Accumulators (Excluding Starter Batteries)

Imports into Vietnam

In 2022, after three years of growth, there was decline in supplies from abroad of lead-acid accumulators (excluding starter batteries), when their volume decreased by -3% to X units. Over the period under review, imports, however, continue to indicate a strong increase. The most prominent rate of growth was recorded in 2013 with an increase of 152% against the previous year. Over the period under review, imports hit record highs at X units in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, lead-acid accumulators (excluding starter batteries) imports shrank to $X in 2022. In general, imports, however, posted a remarkable increase. The most prominent rate of growth was recorded in 2013 with an increase of 71%. Over the period under review, imports reached the maximum at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of lead-acid accumulators (excluding starter batteries) to Vietnam, with a 60% share of total imports. Moreover, lead-acid accumulators (excluding starter batteries) imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X units), fourfold. South Korea (X units) ranked third in terms of total imports with a 7.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +10.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+16.9% per year) and South Korea (+7.8% per year).

In value terms, China ($X) constituted the largest supplier of lead-acid accumulators (excluding starter batteries) to Vietnam, comprising 61% of total imports. The second position in the ranking was held by Thailand ($X), with an 18% share of total imports. It was followed by South Korea, with a 5.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +18.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+9.3% per year) and South Korea (+1.0% per year).

Import Prices by Country

The average import price for lead-acid accumulators (excluding starter batteries) stood at $X per unit in 2022, shrinking by -4.6% against the previous year. Overall, the import price, however, enjoyed a pronounced expansion. The most prominent rate of growth was recorded in 2015 an increase of 43%. The import price peaked at $X per unit in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Germany ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+9.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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