Vietnam: Market for Machine-Tools For Working Any Material By Removal Of Material 2024

Market Size for Machine-Tools For Working Any Material By Removal Of Material in Vietnam

The Vietnamese machine-tool for removing material market soared to $X in 2021, jumping by 39% 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, the total consumption indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +8.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +56.3% against 2018 indices. As a result, consumption attained the peak level of $X. From 2016 to 2021, the growth of the market remained at a lower figure.

Exports of Machine-Tools For Working Any Material By Removal Of Material

Exports from Vietnam

In 2021, shipments abroad of machine-tools for working any material by removal of material increased by 5.5% to X units, rising for the second year in a row after two years of decline. Overall, exports enjoyed a significant expansion. The pace of growth was the most pronounced in 2020 when exports increased by 447% against the previous year. The exports peaked in 2021 and are likely to continue growth in the near future.

In value terms, machine-tool for removing material exports expanded sharply to $X in 2021. Over the period under review, exports showed significant growth. The most prominent rate of growth was recorded in 2020 when exports increased by 226% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are likely to see steady growth in years to come.

Exports by Country

South Korea (X units) was the main destination for machine-tool for removing material exports from Vietnam, with a 42% share of total exports. Moreover, machine-tool for removing material exports to South Korea exceeded the volume sent to the second major destination, China (X units), twofold. The third position in this ranking was held by Australia (X units), with a 9.8% share.

From 2012 to 2021, the average annual growth rate of volume to South Korea amounted to +71.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+69.5% per year) and Australia (+1,600.0% per year).

In value terms, the largest markets for machine-tool for removing material exported from Vietnam were South Korea ($X), China ($X) and Australia ($X), with a combined 82% share of total exports. Thailand, Malaysia, Japan, Germany, Hong Kong SAR, Brazil and Singapore lagged somewhat behind, together comprising a further 14%.

Brazil, with a CAGR of +118.1%, saw the highest rates of growth with regard to the value of exports, among 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 machine-tool for removing material export price amounted to $X per unit, surging by 1.9% against the previous year. Over the period under review, the export price, however, recorded a slight reduction. The growth pace was the most rapid in 2018 when the average export price increased by 61%. Over the period under review, the average export prices attained the peak figure 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 China ($X per unit), while the average price for exports to Singapore ($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 Brazil (+67.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Machine-Tools For Working Any Material By Removal Of Material

Imports into Vietnam

Machine-tool for removing material imports into Vietnam skyrocketed to X units in 2021, picking up by 54% against 2020. Over the period under review, imports showed buoyant growth. The pace of growth appeared the most rapid in 2019 with an increase of 58% against the previous year. Over the period under review, imports hit record highs at X units in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, machine-tool for removing material imports expanded remarkably to $X in 2021. In general, imports saw a significant increase. The most prominent rate of growth was recorded in 2016 when imports increased by 89% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest machine-tool for removing material supplier to Vietnam, accounting for a 53% share of total imports. Moreover, machine-tool for removing material imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X units), twofold. The third position in this ranking was taken by Japan (X units), with a 9.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +91.0%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+123.2% per year) and Japan (+40.4% per year).

In value terms, China ($X), South Korea ($X) and Japan ($X) constituted the largest machine-tool for removing material suppliers to Vietnam, with a combined 83% share of total imports.

Among the main suppliers, South Korea, with a CAGR of +42.0%, recorded the highest rates of growth with regard to 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

The average machine-tool for removing material import price stood at $X per unit in 2021, declining by -26.7% against the previous year. Over the period under review, the import price, however, enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2016 an increase of 243%. The import price peaked at $X per unit in 2017; however, from 2018 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+63.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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