Vietnam: Hide Repairing Machinery Market 2024

Hide Repairing Machinery Market Size in Vietnam

The Vietnamese hide repairing machinery market fell remarkably to $X in 2022, which is down by -22.5% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, saw a resilient increase. Hide repairing machinery consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Hide Repairing Machinery Exports

Exports from Vietnam

In 2022, the amount of machinery for making or repairing articles of hides, skins or leather exported from Vietnam skyrocketed to X units, growing by 241% compared with the previous year. In general, exports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of 341% against the previous year. The exports peaked at X units in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, hide repairing machinery exports surged to $X in 2022. Overall, exports saw buoyant growth. The pace of growth appeared the most rapid in 2016 with an increase of 418%. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Taiwan (Chinese) (X units), Italy (X units) and Indonesia (X units) were the main destinations of hide repairing machinery exports from Vietnam, with a combined 64% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Taiwan (Chinese) (with a CAGR of +44.2%), while the other leaders experienced more modest paces of growth.

In value terms, Taiwan (Chinese) ($X), Italy ($X) and Indonesia ($X) appeared to be the largest markets for hide repairing machinery exported from Vietnam worldwide, with a combined 66% share of total exports.

Taiwan (Chinese), with a CAGR of +60.1%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average hide repairing machinery export price stood at $X per unit in 2022, increasing by 20% against the previous year. Over the period under review, export price indicated a prominent expansion from 2012 to 2022: its price increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, hide repairing machinery export price decreased by -8.9% against 2019 indices. The pace of growth appeared the most rapid in 2015 when the average export price increased by 32% against the previous year. The export price peaked at $X per unit in 2019; however, from 2020 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 Hong Kong SAR ($X per unit), while the average price for exports to Thailand ($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 Cambodia (+9.8%), while the prices for the other major destinations experienced more modest paces of growth.

Hide Repairing Machinery Imports

Imports into Vietnam

In 2022, imports of machinery for making or repairing articles of hides, skins or leather into Vietnam fell dramatically to X units, which is down by -30.6% against the previous year's figure. Over the period under review, imports, however, continue to indicate resilient growth. The pace of growth appeared the most rapid in 2019 with an increase of 109% against the previous year. As a result, imports attained the peak of X units. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, hide repairing machinery imports shrank to $X in 2022. Overall, imports, however, showed resilient growth. The most prominent rate of growth was recorded in 2013 with an increase of 97%. Imports peaked at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

China (X units), Taiwan (Chinese) (X units) and South Korea (X units) were the main suppliers of hide repairing machinery imports to Vietnam, with a combined 64% share of total imports. Italy, Germany, Belgium and France lagged somewhat behind, together accounting for a further 30%.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of +54.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Taiwan (Chinese) ($X) and South Korea ($X) constituted the largest hide repairing machinery suppliers to Vietnam, together accounting for 55% of total imports. Italy, Belgium, Germany and France lagged somewhat behind, together accounting for a further 39%.

In terms of the main suppliers, Belgium, with a CAGR of +55.9%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average hide repairing machinery import price amounted to $X per unit, rising by 24% against the previous year. Overall, the import price saw mild growth. The most prominent rate of growth was recorded in 2017 an increase of 45%. As a result, import price reached the peak level of $X per unit. From 2018 to 2022, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+5.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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