Vietnam: Starter Battery Market 2024

Starter Battery Market Size in Vietnam

After two years of decline, the Vietnamese starter battery market increased by 2.4% to $X in 2022. In general, consumption, however, recorded a mild setback. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Starter Battery Production in Vietnam

In value terms, starter battery production stood at $X in 2022 estimated in export price. Overall, the total production indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of +1.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.9% against 2020 indices. The pace of growth appeared the most rapid in 2019 when the production volume increased by 62%. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Starter Battery Exports

Exports from Vietnam

In 2022, shipments abroad of lead-acid accumulators for starting piston engines decreased by -8.2% to X units for the first time since 2018, thus ending a three-year rising trend. Overall, exports, however, posted a strong expansion. The most prominent rate of growth was recorded in 2019 when exports increased by 52%. Over the period under review, the exports reached the maximum at X units in 2021, and then declined in the following year.

In value terms, starter battery exports contracted to $X in 2022. In general, exports, however, recorded buoyant growth. The most prominent rate of growth was recorded in 2020 when exports increased by 31%. The exports peaked at $X in 2021, and then reduced in the following year.

Exports by Country

The United States (X units), Yemen (X units) and Cambodia (X units) were the main destinations of starter battery exports from Vietnam, together comprising 59% of total exports. The United Arab Emirates, the Netherlands, Canada, Indonesia, Germany, Italy, the Czech Republic, Denmark, Mexico and Nepal lagged somewhat behind, together comprising a further 26%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Indonesia (with a CAGR of +95.9%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for lead-acid accumulators for starting piston engines exports from Vietnam, comprising 39% of total exports. The second position in the ranking was taken by Cambodia ($X), with a 7.8% share of total exports. It was followed by the United Arab Emirates, with a 5.8% share.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to +15.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cambodia (+1.3% per year) and the United Arab Emirates (+13.8% per year).

Export Prices by Country

In 2022, the average starter battery export price amounted to $X per unit, which is down by -3% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 21%. The export price peaked at $X per unit in 2021, and then reduced slightly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per unit), while the average price for exports to Denmark ($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 Germany (+9.0%), while the prices for the other major destinations experienced more modest paces of growth.

Starter Battery Imports

Imports into Vietnam

In 2022, approx. X units of lead-acid accumulators for starting piston engines were imported into Vietnam; declining by -18.7% compared with 2021. In general, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 53% against the previous year. As a result, imports attained the peak of X units, and then reduced markedly in the following year.

In value terms, starter battery imports reduced dramatically to $X in 2022. Overall, imports, however, enjoyed a notable increase. The growth pace was the most rapid in 2021 when imports increased by 67%. As a result, imports attained the peak of $X, and then shrank rapidly in the following year.

Imports by Country

In 2022, South Korea (X units) constituted the largest supplier of starter battery to Vietnam, accounting for a 54% share of total imports. Moreover, starter battery imports from South Korea exceeded the figures recorded by the second-largest supplier, China (X units), threefold. Thailand (X units) ranked third in terms of total imports with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from South Korea stood at +11.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+13.9% per year) and Thailand (-12.4% per year).

In value terms, South Korea ($X) constituted the largest supplier of lead-acid accumulators for starting piston engines to Vietnam, comprising 57% of total imports. The second position in the ranking was held by China ($X), with a 17% share of total imports. It was followed by Thailand, with a 12% share.

From 2012 to 2022, the average annual growth rate of value from South Korea amounted to +15.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+13.5% per year) and Thailand (-7.3% per year).

Import Prices by Country

The average starter battery import price stood at $X per unit in 2022, reducing by -1.5% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.8%. The pace of growth was the most pronounced in 2015 when the average import price increased by 19% against the previous year. 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 Germany ($X per unit), while the price for India ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+5.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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