Vietnam: Market for Non-Numerically Controlled Drilling Machines For Working Metal 2024

Market Size for Non-Numerically Controlled Drilling Machines For Working Metal in Vietnam

The Vietnamese non-numerically controlled drilling machine market soared to $X in 2021, picking up by 71% 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 prominent growth from 2012 to 2021: its value increased at an average annual rate of +7.2% 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 +77.7% against 2018 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Exports of Non-Numerically Controlled Drilling Machines For Working Metal

Exports from Vietnam

In 2021, non-numerically controlled drilling machine exports from Vietnam skyrocketed to X tons, growing by 290% against the previous year's figure. Overall, exports enjoyed a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, non-numerically controlled drilling machine exports skyrocketed to $X in 2021. Over the period under review, exports recorded strong growth. The most prominent rate of growth was recorded in 2013 when exports increased by 134%. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for non-numerically controlled drilling machine exports from Vietnam, with a 66% share of total exports. Moreover, non-numerically controlled drilling machine exports to China exceeded the volume sent to the second major destination, South Korea (X tons), threefold. The third position in this ranking was held by the United States (X tons), with an 8.1% share.

From 2012 to 2021, the average annual growth rate of volume to China stood at +94.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+35.3% per year) and the United States (+95.5% per year).

In value terms, China ($X) emerged as the key foreign market for non-numerically controlled drilling machines for working metal exports from Vietnam, comprising 66% of total exports. The second position in the ranking was taken by South Korea ($X), with a 22% share of total exports. It was followed by the United States, with an 8.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China stood at +79.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+22.7% per year) and the United States (+80.1% per year).

Export Prices by Country

The average non-numerically controlled drilling machine export price stood at $X per ton in 2021, with a decrease of -48.1% against the previous year. Overall, the export price saw a abrupt decline. The pace of growth was the most pronounced in 2017 an increase of 34%. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably for the major overseas markets. In 2021, the countries with the highest prices were Thailand ($X per ton) and the United States ($X per ton), while the average price for exports to Myanmar ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+8.4%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Non-Numerically Controlled Drilling Machines For Working Metal

Imports into Vietnam

In 2021, imports of non-numerically controlled drilling machines for working metal into Vietnam surged to X tons, jumping by 50% against 2020. Overall, total imports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +8.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +67.6% against 2018 indices. The most prominent rate of growth was recorded in 2019 with an increase of 57% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are likely to see gradual growth in years to come.

In value terms, non-numerically controlled drilling machine imports skyrocketed to $X in 2021. Over the period under review, imports saw a prominent increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Japan (X tons), Singapore (X tons) and China (X tons) were the main suppliers of non-numerically controlled drilling machine imports to Vietnam, together accounting for 65% of total imports. These countries were followed by Taiwan (Chinese), Switzerland, Italy and South Korea, which together accounted for a further 34%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Switzerland (with a CAGR of +111.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest non-numerically controlled drilling machine suppliers to Vietnam were Japan ($X), Singapore ($X) and China ($X), with a combined 65% share of total imports. These countries were followed by Taiwan (Chinese), Switzerland, Italy and South Korea, which together accounted for a further 34%.

In terms of the main suppliers, Switzerland, with a CAGR of +110.1%, 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

In 2021, the average non-numerically controlled drilling machine import price amounted to $X per ton, rising by 40% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The import price peaked at $X per ton in 2017; however, from 2018 to 2021, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, the highest price was recorded for prices from Japan ($X per ton) and Italy ($X per ton), while the price for Singapore ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+12.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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