Vietnam: Market for Machines For Preparing, Weaving And Knitting Textiles 2024

Market Size for Machines For Preparing, Weaving And Knitting Textiles in Vietnam

The Vietnamese market for machines for preparing, weaving and knitting textiles was finally on the rise to reach $X in 2021, after two years of decline. Over the period under review, consumption continues to indicate a buoyant expansion. Textile weaving and knitting machinery consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Exports of Machines For Preparing, Weaving And Knitting Textiles

Exports from Vietnam

Textile weaving and knitting machinery exports from Vietnam soared to X units in 2021, growing by 57% compared with the previous year. In general, exports posted significant growth. The pace of growth was the most pronounced in 2015 with an increase of 138%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, textile weaving and knitting machinery exports skyrocketed to $X in 2021. Overall, exports saw a significant expansion. The growth pace was the most rapid in 2015 when exports increased by 170% against the previous year. The exports peaked in 2021 and are likely to see gradual growth in the immediate term.

Exports by Country

Turkey (X units), the United States (X units) and Slovenia (X units) were the main destinations of textile weaving and knitting machinery exports from Vietnam, with a combined 66% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Turkey (with a CAGR of +122.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for textile weaving and knitting machinery exported from Vietnam were the United States ($X), Turkey ($X) and Slovenia ($X), with a combined 58% share of total exports.

The United States, with a CAGR of +166.8%, recorded the highest rates of growth with regard to 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

In 2021, the average export price for machines for preparing, weaving and knitting textiles amounted to $X per unit, declining by -10.7% against the previous year. Overall, the export price, however, recorded a modest increase. The most prominent rate of growth was recorded in 2017 an increase of 64%. The export price peaked at $X per unit in 2013; however, from 2014 to 2021, 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 ($X per unit), while the average price for exports to Slovenia ($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 Romania (+177.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Machines For Preparing, Weaving And Knitting Textiles

Imports into Vietnam

In 2021, imports of machines for preparing, weaving and knitting textiles into Vietnam stood at X units, increasing by 9% compared with 2020 figures. Over the period under review, imports showed a resilient increase. The growth pace was the most rapid in 2014 when imports increased by 77%. Over the period under review, imports attained the maximum at X units in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, textile weaving and knitting machinery imports expanded rapidly to $X in 2021. In general, imports continue to indicate strong growth. The most prominent rate of growth was recorded in 2013 with an increase of 92% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest textile weaving and knitting machinery supplier to Vietnam, accounting for a 56% share of total imports. Moreover, textile weaving and knitting machinery imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), threefold. The third position in this ranking was taken by Taiwan (Chinese) (X units), with a 6.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +14.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+14.6% per year) and Taiwan (Chinese) (+1.8% per year).

In value terms, China ($X) constituted the largest supplier of machines for preparing, weaving and knitting textiles to Vietnam, comprising 53% of total imports. The second position in the ranking was held by Japan ($X), with a 16% share of total imports. It was followed by South Korea, with a 5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +14.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+10.8% per year) and South Korea (+2.9% per year).

Import Prices by Country

The average import price for machines for preparing, weaving and knitting textiles stood at $X per unit in 2021, waning by -2.6% against the previous year. Overall, the import price continues to indicate a mild downturn. The growth pace was the most rapid in 2013 an increase of 29%. The import price peaked at $X per unit in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-0.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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