Vietnam: Non-Electric Industrial Furnace Market 2025

Non-Electric Industrial Furnace Market Size in Vietnam

The Vietnamese non-electric industrial furnace market reduced to $X in 2022, dropping by -11.4% against the previous year. In general, consumption recorded a deep downturn. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Non-Electric Industrial Furnace Production in Vietnam

In value terms, non-electric industrial furnace production surged to $X in 2022 estimated in export price. Overall, production, however, recorded a sharp decline. Non-electric industrial furnace production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Non-Electric Industrial Furnace Exports

Exports from Vietnam

In 2022, non-electric industrial furnace exports from Vietnam shrank slightly to X units, reducing by -3% compared with 2021. Over the period under review, exports, however, showed significant growth. The growth pace was the most rapid in 2017 with an increase of 470%. The exports peaked at X units in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, non-electric industrial furnace exports shrank to $X in 2022. Overall, exports, however, posted a significant increase. The most prominent rate of growth was recorded in 2017 with an increase of 489% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then contracted in the following year.

Exports by Country

The United States (X units), Indonesia (X units) and the Philippines (X units) were the main destinations of non-electric industrial furnace exports from Vietnam, with a combined 96% share of total exports.

From 2012 to 2022, the biggest increases were recorded for the Philippines (with a CAGR of +566.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Indonesia ($X) and the Philippines ($X) appeared to be the largest markets for non-electric industrial furnace exported from Vietnam worldwide, together comprising 96% of total exports.

The Philippines, with a CAGR of +557.0%, saw 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

The average non-electric industrial furnace export price stood at $X per unit in 2022, leveling off at the previous year. In general, export price indicated a prominent expansion from 2012 to 2022: its price increased at an average annual rate of +11.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, non-electric industrial furnace export price decreased by -0.4% against 2020 indices. The pace of growth was the most pronounced in 2013 an increase of 99% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per unit in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were Indonesia ($X per unit) and Lao People's Democratic Republic ($X per unit), while the average price for exports to the United States ($X per unit) and the Philippines ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+14.5%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Electric Industrial Furnace Imports

Imports into Vietnam

In 2022, the amount of non-electric industrial or laboratory furnaces and ovens imported into Vietnam dropped markedly to X units, falling by -15.3% on 2021 figures. Over the period under review, imports, however, saw a prominent increase. The most prominent rate of growth was recorded in 2013 with an increase of 191%. Over the period under review, imports hit record highs at X units in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, non-electric industrial furnace imports reduced to $X in 2022. Overall, imports, however, continue to indicate a prominent increase. The pace of growth appeared the most rapid in 2013 with an increase of 207%. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of non-electric industrial furnace to Vietnam, accounting for a 75% share of total imports. Moreover, non-electric industrial furnace imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), more than tenfold. Italy (X units) ranked third in terms of total imports with a 5.3% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +22.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-5.3% per year) and Italy (+62.4% per year).

In value terms, China ($X) constituted the largest supplier of non-electric industrial or laboratory furnaces and ovens to Vietnam, comprising 75% of total imports. The second position in the ranking was held by Japan ($X), with a 7% share of total imports. It was followed by Italy, with a 5% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +24.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-3.1% per year) and Italy (+63.7% per year).

Import Prices by Country

The average non-electric industrial furnace import price stood at $X per unit in 2022, increasing by 4.1% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.5%. The pace of growth was the most pronounced in 2020 when the average import price increased by 33%. As a result, import price attained the peak level of $X per unit. From 2021 to 2022, the average import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Japan ($X per unit) and Taiwan (Chinese) ($X per unit), while the price for Italy ($X per unit) and South Korea ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+2.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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