Vietnam: Motor Grader Market 2024

Motor Grader Market Size in Vietnam

The Vietnamese motor grader market declined sharply to $X in 2022, with a decrease of -19.9% 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, however, posted measured growth. As a result, consumption reached the peak level of $X, and then reduced markedly in the following year.

Motor Grader Exports

Exports from Vietnam

In 2022, motor grader exports from Vietnam soared to X units, jumping by 29% on the previous year's figure. Over the period under review, exports, however, continue to indicate a slight downturn. The growth pace was the most rapid in 2020 when exports increased by 160%. Over the period under review, the exports hit record highs at X units in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, motor grader exports declined to $X in 2022. In general, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 1,496%. The exports peaked at $X in 2021, and then fell slightly in the following year.

Exports by Country

The UK (X units), Cambodia (X units) and Lao People's Democratic Republic (X units) were the main destinations of motor grader exports from Vietnam, with a combined 78% share of total exports. India and Indonesia lagged somewhat behind, together comprising a further 22%. Moreover, motor grader exports in the UK exceeded the figures recorded by the second-largest exporter, Cambodia, twofold.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of 0.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Cambodia ($X) remains the key foreign market for motor graders and levellers exports from Vietnam, comprising 68% of total exports. The second position in the ranking was taken by Lao People's Democratic Republic ($X), with a 22% share of total exports. It was followed by India, with an 8.2% share.

From 2012 to 2022, the average annual growth rate of value to Cambodia amounted to +1.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lao People's Democratic Republic (+15.7% per year) and India (-10.1% per year).

Export Prices by Country

The average motor grader export price stood at $X per unit in 2022, falling by -23.4% against the previous year. Over the period under review, the export price, however, saw a modest expansion. The pace of growth was the most pronounced in 2017 when the average export price increased by 1,496% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2018 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cambodia ($X per unit), while the average price for exports to Indonesia ($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 Lao People's Democratic Republic (+15.7%), while the prices for the other major destinations experienced mixed trend patterns.

Motor Grader Imports

Imports into Vietnam

In 2022, the amount of motor graders and levellers imported into Vietnam reduced notably to X units, falling by -17.2% compared with 2021. Overall, imports, however, recorded a perceptible expansion. The pace of growth was the most pronounced in 2021 when imports increased by 74%. As a result, imports attained the peak of X units, and then dropped dramatically in the following year.

In value terms, motor grader imports declined sharply to $X in 2022. Over the period under review, imports, however, enjoyed slight growth. The growth pace was the most rapid in 2018 when imports increased by 56% against the previous year. Imports peaked at $X in 2021, and then dropped rapidly in the following year.

Imports by Country

In 2022, Japan (X units) constituted the largest motor grader supplier to Vietnam, accounting for a 38% share of total imports. Moreover, motor grader imports from Japan exceeded the figures recorded by the second-largest supplier, the United States (X units), fourfold. The third position in this ranking was taken by the United Arab Emirates (X units), with a 6.1% share.

From 2012 to 2022, the average annual growth rate of volume from Japan stood at +22.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+23.1% per year) and the United Arab Emirates (+17.5% per year).

In value terms, Japan ($X) constituted the largest supplier of motor graders and levellers to Vietnam, comprising 52% of total imports. The second position in the ranking was held by the United States ($X), with a 15% share of total imports. It was followed by Turkey, with a 10% share.

From 2012 to 2022, the average annual growth rate of value from Japan stood at +6.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+7.7% per year) and Turkey (+24.4% per year).

Import Prices by Country

The average motor grader import price stood at $X per unit in 2022, remaining relatively unchanged against the previous year. Over the period under review, the import price, however, continues to indicate a perceptible decline. The pace of growth was the most pronounced in 2020 an increase of 24%. Over the period under review, average import prices reached the maximum at $X per unit in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Turkey ($X per unit), while the price for Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+13.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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