Vietnam: Market for Machine-Tools For Working Stone, Ceramics, And Concrete 2024

Market Size for Machine-Tools For Working Stone, Ceramics, And Concrete in Vietnam

In 2022, the Vietnamese market for machine-tools for working stone, ceramics, and concrete increased by 57% to $X for the first time since 2019, thus ending a two-year declining trend. Over the period under review, consumption recorded resilient growth. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market remained at a somewhat lower figure.

Exports of Machine-Tools For Working Stone, Ceramics, And Concrete

Exports from Vietnam

Machine tools for working stone exports from Vietnam fell remarkably to X units in 2022, shrinking by -27.4% compared with 2021 figures. In general, exports, however, enjoyed significant growth. The pace of growth appeared the most rapid in 2013 with an increase of 398%. The exports peaked at X units in 2021, and then fell dramatically in the following year.

In value terms, machine tools for working stone exports shrank to $X in 2022. Overall, exports, however, recorded a significant expansion. The pace of growth was the most pronounced in 2013 with an increase of 394% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2021, and then contracted in the following year.

Exports by Country

The United States (X units), Taiwan (Chinese) (X units) and New Zealand (X units) were the main destinations of machine tools for working stone exports from Vietnam, together accounting for 58% of total exports.

From 2012 to 2022, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +77.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) emerged as the key foreign market for machine-tools for working stone, ceramics, and concrete exports from Vietnam, comprising 37% of total exports. The second position in the ranking was taken by China ($X), with an 8.7% share of total exports. It was followed by New Zealand, with an 8% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +54.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+54.0% per year) and New Zealand (+60.0% per year).

Export Prices by Country

In 2022, the average export price for machine-tools for working stone, ceramics, and concrete amounted to $X per unit, growing by 20% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the average export price increased by 26%. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Korea ($X per unit), while the average price for exports to Taiwan (Chinese) ($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 South Africa (+22.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Machine-Tools For Working Stone, Ceramics, And Concrete

Imports into Vietnam

In 2022, purchases abroad of machine-tools for working stone, ceramics, and concrete was finally on the rise to reach X units after two years of decline. Overall, imports posted strong growth. The most prominent rate of growth was recorded in 2016 when imports increased by 172% against the previous year. As a result, imports reached the peak of X units. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, machine tools for working stone imports skyrocketed to $X in 2022. In general, imports enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2016 with an increase of 187%. As a result, imports reached the peak of $X. From 2017 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest machine tools for working stone supplier to Vietnam, with a 77% share of total imports. Moreover, machine tools for working stone imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X units), sixfold. Finland (X units) ranked third in terms of total imports with a 4.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +43.5%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-8.8% per year) and Finland (+34.8% per year).

In value terms, China ($X) constituted the largest supplier of machine-tools for working stone, ceramics, and concrete to Vietnam, comprising 75% of total imports. The second position in the ranking was taken by Finland ($X), with a 9.6% share of total imports. It was followed by South Korea, with a 7% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +26.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Finland (+35.5% per year) and South Korea (-14.1% per year).

Import Prices by Country

The average import price for machine-tools for working stone, ceramics, and concrete stood at $X per unit in 2022, falling by -7.4% against the previous year. Over the period under review, the import price showed a pronounced decline. The most prominent rate of growth was recorded in 2013 when the average import price increased by 22%. The import price peaked at $X per unit in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Finland ($X per unit), while the price for South Korea ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+0.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :