Vietnam: Mobile Lifting Frame Market 2024

Mobile Lifting Frame Market Size in Vietnam

The Vietnamese mobile lifting frame market contracted rapidly to $X in 2021, reducing by -71.9% 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). Overall, consumption saw a significant decline. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Mobile Lifting Frame Exports

Exports from Vietnam

In 2021, shipments abroad of mobile lifting frames on tyres and straddle carriers was finally on the rise to reach X units after four years of decline. Overall, exports showed significant growth. The pace of growth appeared the most rapid in 2013 when exports increased by 4,502%. The exports peaked at X units in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, mobile lifting frame exports surged to $X in 2021. In general, exports saw a significant expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 5,133%. Over the period under review, the exports reached the maximum at $X in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units) was the main destination for mobile lifting frame exports from Vietnam, accounting for a 73% share of total exports. Moreover, mobile lifting frame exports to the United States exceeded the volume sent to the second major destination, Singapore (X units), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+5.9% per year) and the United Arab Emirates (0.0% per year).

In value terms, Singapore ($X), the United States ($X) and the United Arab Emirates ($X) were the largest markets for mobile lifting frame exported from Vietnam worldwide, with a combined 100% share of total exports.

Among the main countries of destination, Singapore, with a CAGR of +15.0%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average mobile lifting frame export price stood at $X per unit in 2021, shrinking by -21.8% against the previous year. Overall, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 20% against the previous year. Over the period under review, the average export prices attained the maximum at $X per unit in 2020, and then declined markedly in the following year.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Singapore ($X per unit), while the average price for exports to the United Arab Emirates ($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 Singapore (+8.6%).

Mobile Lifting Frame Imports

Imports into Vietnam

For the third year in a row, Vietnam recorded decline in overseas purchases of mobile lifting frames on tyres and straddle carriers, which decreased by -66.4% to X units in 2021. In general, imports faced a abrupt setback. The most prominent rate of growth was recorded in 2018 with an increase of 76%. As a result, imports reached the peak of X units. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, mobile lifting frame imports reduced dramatically to $X in 2021. Over the period under review, imports saw a precipitous decline. The most prominent rate of growth was recorded in 2018 with an increase of 61% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Japan (X units) constituted the largest supplier of mobile lifting frame to Vietnam, with a 70% share of total imports. Moreover, mobile lifting frame imports from Japan exceeded the figures recorded by the second-largest supplier, China (X units), tenfold. The third position in this ranking was held by Italy (X units), with a 6.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Japan amounted to +125.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-38.6% per year) and Italy (-17.8% per year).

In value terms, Japan ($X) constituted the largest supplier of mobile lifting frames on tyres and straddle carriers to Vietnam, comprising 61% of total imports. The second position in the ranking was taken by Italy ($X), with an 8.7% share of total imports. It was followed by China, with a 7.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Japan totaled +134.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-12.8% per year) and China (-39.8% per year).

Import Prices by Country

The average mobile lifting frame import price stood at $X per unit in 2021, with a decrease of -5.8% against the previous year. Over the period under review, the import price showed a noticeable curtailment. The pace of growth appeared the most rapid in 2020 an increase of 9.2%. The import price peaked at $X per unit in 2012; however, from 2013 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 Germany ($X per unit), while the price for Japan ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+6.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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