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

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

The Vietnamese non-numerically controlled sharpening machine market reduced modestly to $X in 2022, standing approx. at the previous year. Overall, consumption, however, showed a pronounced expansion. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Non-Numerically Controlled Sharpening Machines For Working Metal in Vietnam

In value terms, non-numerically controlled sharpening machine production fell to $X in 2022 estimated in export price. Over the period under review, production posted buoyant growth. The pace of growth appeared the most rapid in 2018 with an increase of 181% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Exports of Non-Numerically Controlled Sharpening Machines For Working Metal

Exports from Vietnam

Non-numerically controlled sharpening machine exports from Vietnam surged to X units in 2022, with an increase of 19% on the previous year. Over the period under review, exports, however, recorded a abrupt descent. The most prominent rate of growth was recorded in 2014 with an increase of 132% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, non-numerically controlled sharpening machine exports soared to $X in 2022. Overall, exports, however, recorded a pronounced slump. The growth pace was the most rapid in 2017 when exports increased by 263% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Japan (X units) was the main destination for non-numerically controlled sharpening machine exports from Vietnam, accounting for a 46% share of total exports. Moreover, non-numerically controlled sharpening machine exports to Japan exceeded the volume sent to the second major destination, the United States (X units), twofold. The third position in this ranking was held by Taiwan (Chinese) (X units), with a 9.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Japan amounted to +15.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+17.5% per year) and Taiwan (Chinese) (+21.5% per year).

In value terms, Japan ($X) emerged as the key foreign market for non-numerically controlled sharpening machines for working metal exports from Vietnam, comprising 53% of total exports. The second position in the ranking was taken by the United States ($X), with a 22% share of total exports. It was followed by Taiwan (Chinese), with a 9.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Japan stood at +26.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+32.0% per year) and Taiwan (Chinese) (+33.3% per year).

Export Prices by Country

In 2022, the average non-numerically controlled sharpening machine export price amounted to $X per unit, with an increase of 13% against the previous year. Over the period under review, the export price enjoyed tangible growth. The most prominent rate of growth was recorded in 2017 when the average export price increased by 75%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per unit), while the average price for exports to Russia ($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 Singapore (+15.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Non-Numerically Controlled Sharpening Machines For Working Metal

Imports into Vietnam

Non-numerically controlled sharpening machine imports into Vietnam dropped sharply to X units in 2022, falling by -22.4% on 2021. In general, imports, however, recorded significant growth. The pace of growth was the most pronounced in 2019 when imports increased by 118% against the previous year. Over the period under review, imports hit record highs at X units in 2021, and then contracted dramatically in the following year.

In value terms, non-numerically controlled sharpening machine imports declined to $X in 2022. Over the period under review, imports, however, posted a resilient increase. The most prominent rate of growth was recorded in 2015 when imports increased by 77%. Over the period under review, imports reached the peak figure at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of non-numerically controlled sharpening machine to Vietnam, accounting for a 79% share of total imports. Moreover, non-numerically controlled sharpening machine imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X units), sevenfold. The third position in this ranking was held by India (X units), with a 2.6% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +41.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+25.4% per year) and India (+54.6% per year).

In value terms, China ($X) constituted the largest supplier of non-numerically controlled sharpening machines for working metal to Vietnam, comprising 63% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 19% share of total imports. It was followed by India, with a 1.1% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +20.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+12.6% per year) and India (+31.8% per year).

Import Prices by Country

In 2022, the average non-numerically controlled sharpening machine import price amounted to $X per unit, growing by 16% against the previous year. Overall, the import price, however, showed a abrupt contraction. The most prominent rate of growth was recorded in 2020 an increase of 18% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per unit), while the price for India ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (-10.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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