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

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

The Vietnamese numerically controlled drilling machine market plummeted to $X in 2021, with a decrease of -17.9% against the previous year. Overall, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Production of Numerically Controlled Drilling Machines For Working Metal in Vietnam

In value terms, numerically controlled drilling machine production shrank dramatically to $X in 2021 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 298% against the previous year. Over the period under review, production reached the peak level at $X in 2015; however, from 2016 to 2021, production failed to regain momentum.

Exports of Numerically Controlled Drilling Machines For Working Metal

Exports from Vietnam

In 2021, the amount of numerically controlled drilling machines for working metal exported from Vietnam soared to X tons, picking up by 2,720% on 2020 figures. Over the period under review, exports saw significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, numerically controlled drilling machine exports surged to $X in 2021. In general, exports continue to indicate a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Mexico (X tons) was the main destination for numerically controlled drilling machine exports from Vietnam, accounting for a 88% share of total exports. Moreover, numerically controlled drilling machine exports to Mexico exceeded the volume sent to the second major destination, South Korea (X tons), more than tenfold. Pakistan (X tons) ranked third in terms of total exports with a 2.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Mexico totaled +234.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+4.0% per year) and Pakistan (0.0% per year).

In value terms, Mexico ($X) emerged as the key foreign market for numerically controlled drilling machines for working metal exports from Vietnam, comprising 86% of total exports. The second position in the ranking was held by South Korea ($X), with a 3.8% share of total exports. It was followed by Pakistan, with a 3.4% share.

From 2012 to 2021, the average annual growth rate of value to Mexico totaled +213.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (-0.6% per year) and Pakistan (0.0% per year).

Export Prices by Country

In 2021, the average numerically controlled drilling machine export price amounted to $X per ton, with a decrease of -36% against the previous year. In general, the export price saw a pronounced curtailment. The growth pace was the most rapid in 2020 when the average export price increased by 17% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major external markets. In 2021, the highest price was recorded for prices to Pakistan ($X per ton) and Mexico ($X per ton), while the average price for exports to China ($X per ton) and South Korea ($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 South Korea (-4.4%), while the prices for the other major destinations experienced a decline.

Imports of Numerically Controlled Drilling Machines For Working Metal

Imports into Vietnam

In 2021, supplies from abroad of numerically controlled drilling machines for working metal was finally on the rise to reach X tons after three years of decline. Over the period under review, imports posted strong growth. The most prominent rate of growth was recorded in 2013 when imports increased by 115%. Over the period under review, imports attained the maximum at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, numerically controlled drilling machine imports expanded markedly to $X in 2021. Overall, imports saw a tangible increase. The pace of growth was the most pronounced in 2017 with an increase of 108%. Imports peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

Japan (X tons), China (X tons) and South Korea (X tons) were the main suppliers of numerically controlled drilling machine imports to Vietnam, together accounting for 65% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +35.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest numerically controlled drilling machine suppliers to Vietnam were Japan ($X), China ($X) and South Korea ($X), together comprising 63% of total imports.

Among the main suppliers, China, with a CAGR of +31.0%, saw the highest growth rate of 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 numerically controlled drilling machine import price amounted to $X per ton, reducing by -6.8% against the previous year. Overall, the import price continues to indicate a perceptible shrinkage. The growth pace was the most rapid in 2015 when the average import price increased by 20%. As a result, import price reached the peak level of $X per ton. From 2016 to 2021, the average import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, the countries with the highest prices were the United States ($X per ton) and Taiwan (Chinese) ($X per ton), while the price for Italy ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+1.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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