Vietnam: Market for Snow-Ploughs And Snow-Blowers 2024

Market Size for Snow-Ploughs And Snow-Blowers in Vietnam

After four years of decline, the Vietnamese snow ploughs and blowers market increased by 61% to $X in 2022. Overall, consumption, however, showed a abrupt decrease. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Production of Snow-Ploughs And Snow-Blowers in Vietnam

In value terms, snow ploughs and blowers production reduced slightly to $X in 2022 estimated in export price. Over the period under review, production saw a deep contraction. The pace of growth appeared the most rapid in 2013 with an increase of 37% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Exports of Snow-Ploughs And Snow-Blowers

Exports from Vietnam

In 2022, after ten years of growth, there was significant decline in overseas shipments of snow-ploughs and snow-blowers, when their volume decreased by -25.4% to X units. Over the period under review, exports, however, posted a significant increase. The pace of growth was the most pronounced in 2020 with an increase of 112% against the previous year. Over the period under review, the exports hit record highs at X units in 2021, and then declined rapidly in the following year.

In value terms, snow ploughs and blowers exports totaled $X in 2022. In general, exports, however, saw a significant increase. The growth pace was the most rapid in 2018 when exports increased by 29,040,067% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X units) was the main destination for snow ploughs and blowers exports from Vietnam, with a 78% share of total exports. Moreover, snow ploughs and blowers exports to the United States exceeded the volume sent to the second major destination, Canada (X units), fivefold.

From 2019 to 2022, the average annual rate of growth in terms of volume to the United States stood at +25.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-21.9% per year) and the Netherlands (0.0% per year).

In value terms, the United States ($X) remains the key foreign market for snow-ploughs and snow-blowers exports from Vietnam, comprising 76% of total exports. The second position in the ranking was taken by Canada ($X), with a 17% share of total exports.

From 2019 to 2022, the average annual growth rate of value to the United States totaled -3.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-31.3% per year) and the Netherlands (0.0% per year).

Export Prices by Country

The average snow ploughs and blowers export price stood at $X per unit in 2022, jumping by 45% against the previous year. Overall, the export price, however, continues to indicate a abrupt decrease. The export price peaked at $X per unit in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Canada ($X per unit), while the average price for exports to the Netherlands ($X per unit) was amongst the lowest.

From 2019 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Canada (-12.0%).

Imports of Snow-Ploughs And Snow-Blowers

Imports into Vietnam

Snow ploughs and blowers imports into Vietnam was estimated at X units in 2022, remaining constant against the previous year's figure. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by 875% against the previous year. Imports peaked at X units in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, snow ploughs and blowers imports dropped rapidly to $X in 2022. Over the period under review, imports recorded prominent growth. The most prominent rate of growth was recorded in 2020 with an increase of 14,478% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

Japan (X units), Italy (X units) and the United States (X units) were the main suppliers of snow ploughs and blowers imports to Vietnam, together comprising 75% of total imports.

From 2012 to 2022, the biggest increases were recorded for Japan (with a CAGR of 0.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X) constituted the largest supplier of snow-ploughs and snow-blowers to Vietnam, comprising 65% of total imports. The second position in the ranking was taken by the United States ($X), with a 25% share of total imports. It was followed by China, with an 8.6% share.

From 2012 to 2022, the average annual growth rate of value from Italy amounted to +15.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+23.4% per year) and China (+29.3% per year).

Import Prices by Country

In 2022, the average snow ploughs and blowers import price amounted to $X per unit, reducing by -24.9% against the previous year. In general, the import price, however, saw resilient growth. The most prominent rate of growth was recorded in 2020 an increase of 9,619% against the previous year. The import price peaked at $X per unit in 2021, and then contracted markedly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+29.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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