Vietnam: Market for Machine Tools For Working Metal 2024

Market Size for Machine Tools For Working Metal in Vietnam

The Vietnamese machine-tool for working metal market declined to $X in 2021, with a decrease of -6.6% against the previous year. Over the period under review, consumption recorded a perceptible slump. Over the period under review, the market attained the peak level at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Production of Machine Tools For Working Metal in Vietnam

In value terms, machine-tool for working metal production declined notably to $X in 2021 estimated in export price. In general, production, however, enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2020 with an increase of 125% against the previous year. As a result, production attained the peak level of $X, and then shrank sharply in the following year.

Exports of Machine Tools For Working Metal

Exports from Vietnam

In 2021, overseas shipments of machine tools for working metal decreased by -24.6% to X units, falling for the second year in a row after four years of growth. Overall, exports, however, saw a tangible expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 68% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, machine-tool for working metal exports shrank to $X in 2021. The total export value increased at an average annual rate of +2.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 with an increase of 21%. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Thailand (X units), the United States (X units) and Myanmar (X units) were the main destinations of machine-tool for working metal exports from Vietnam, with a combined 43% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Myanmar (with a CAGR of +34.6%), while the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X) remains the key foreign market for machine tools for working metal exports from Vietnam, comprising 41% of total exports. The second position in the ranking was held by Indonesia ($X), with a 13% share of total exports. It was followed by the United States, with a 9.4% share.

From 2012 to 2021, the average annual growth rate of value to Thailand amounted to +1.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+2.6% per year) and the United States (+14.8% per year).

Export Prices by Country

In 2021, the average machine-tool for working metal export price amounted to $X per unit, rising by 32% against the previous year. Over the period under review, the export price, however, saw a pronounced shrinkage. The pace of growth was the most pronounced in 2020 an increase of 115% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Sri Lanka (+6.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Machine Tools For Working Metal

Imports into Vietnam

After two years of decline, overseas purchases of machine tools for working metal increased by 10% to X units in 2021. Overall, imports, however, saw a abrupt shrinkage. The pace of growth was the most pronounced in 2015 when imports increased by 62% against the previous year. As a result, imports reached the peak of X units. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, machine-tool for working metal imports reached $X in 2021. In general, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2015 when imports increased by 60%. As a result, imports attained the peak of $X. From 2016 to 2021, the growth of imports failed to regain momentum.

Imports by Country

China (X units), the UK (X units) and South Korea (X units) were the main suppliers of machine-tool for working metal imports to Vietnam, together comprising 57% of total imports. These countries were followed by Finland, Japan, Taiwan (Chinese), Belgium, the United States, the Netherlands and Switzerland, which together accounted for a further 36%.

From 2012 to 2021, the biggest increases were recorded for Finland (with a CAGR of +29.1%), while purchases for the other leaders experienced a decline.

In value terms, China ($X) constituted the largest supplier of machine tools for working metal to Vietnam, comprising 37% of total imports. The second position in the ranking was held by South Korea ($X), with a 16% share of total imports. It was followed by Japan, with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +8.8%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-1.7% per year) and Japan (-4.8% per year).

Import Prices by Country

In 2021, the average machine-tool for working metal import price amounted to $X per unit, declining by -5.7% against the previous year. In general, the import price, however, recorded a buoyant expansion. The growth pace was the most rapid in 2016 an increase of 158%. Over the period under review, average import prices hit record highs at $X per unit in 2020, and then dropped in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Switzerland (+40.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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