Vietnam: Market for Non-Electronic Hydro-, Hygro-, Psychrometers 2025

Market Size for Non-Electronic Hydro-, Hygro-, Psychrometers in Vietnam

The Vietnamese non-electronic hydro- and hygrometers market soared to $X in 2021, growing by 15% 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). In general, consumption showed a resilient expansion. Non-electronic hydro- and hygrometers consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Exports of Non-Electronic Hydro-, Hygro-, Psychrometers

Exports from Vietnam

For the fourth year in a row, Vietnam recorded growth in shipments abroad of non-electronic hydro-, hygro-, psychrometers, which increased by 5.8% to X units in 2021. In general, exports recorded a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 519% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, non-electronic hydro- and hygrometers exports contracted to $X in 2021. Overall, exports posted a significant increase. The growth pace was the most rapid in 2013 with an increase of 361% against the previous year. Over the period under review, the exports attained the maximum at $X in 2020, and then fell in the following year.

Exports by Country

The United States (X units) was the main destination for non-electronic hydro- and hygrometers exports from Vietnam, accounting for a 74% share of total exports. Moreover, non-electronic hydro- and hygrometers exports to the United States exceeded the volume sent to the second major destination, Mexico (X units), ninefold. The third position in this ranking was held by China (X units), with a 5.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at +129.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+56.9% per year) and China (+31.5% per year).

In value terms, the United States ($X) remains the key foreign market for non-electronic hydro-, hygro-, psychrometers exports from Vietnam, comprising 76% of total exports. The second position in the ranking was taken by Mexico ($X), with an 8.5% share of total exports. It was followed by China, with a 5.2% share.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to +265.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+55.6% per year) and China (+152.7% per year).

Export Prices by Country

The average non-electronic hydro- and hygrometers export price stood at $X per unit in 2021, with a decrease of -6.3% against the previous year. In general, the export price recorded a noticeable shrinkage. The most prominent rate of growth was recorded in 2015 when the average export price increased by 27%. The export price peaked at $X per unit in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major export markets. In 2021, amid the top suppliers, the countries with the highest prices were South Korea ($X per unit) and China ($X per unit), while the average price for exports to Mexico ($X per unit) and the United States ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+3.1%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Non-Electronic Hydro-, Hygro-, Psychrometers

Imports into Vietnam

Non-electronic hydro- and hygrometers imports into Vietnam expanded markedly to X units in 2021, increasing by 14% against 2020. In general, imports showed a significant expansion. The pace of growth was the most pronounced in 2017 with an increase of 431%. Imports peaked in 2021 and are expected to retain growth in the near future.

In value terms, non-electronic hydro- and hygrometers imports totaled $X in 2021. Over the period under review, imports enjoyed a resilient expansion. The growth pace was the most rapid in 2017 when imports increased by 357% against the previous year. Over the period under review, imports reached the peak figure 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 non-electronic hydro- and hygrometers supplier to Vietnam, with a 76% share of total imports. Moreover, non-electronic hydro- and hygrometers imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X units), ninefold. The third position in this ranking was taken by Taiwan (Chinese) (X units), with a 3.5% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +72.2%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+12.5% per year) and Taiwan (Chinese) (+3.5% per year).

In value terms, China ($X) constituted the largest supplier of non-electronic hydro-, hygro-, psychrometers to Vietnam, comprising 32% of total imports. The second position in the ranking was held by the United States ($X), with a 12% share of total imports. It was followed by Japan, with a 9.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +37.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+23.1% per year) and Japan (+1.2% per year).

Import Prices by Country

The average non-electronic hydro- and hygrometers import price stood at $X per unit in 2021, standing approx. at the previous year. Over the period under review, the import price, however, recorded a abrupt decline. The most prominent rate of growth was recorded in 2015 when the average import price increased by 8.5%. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Thailand ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+34.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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