Vietnam: Positive Displacement Pump Market 2024

Positive Displacement Pump Market Size in Vietnam

In 2021, the Vietnamese positive displacement pump market decreased by -56.3% to $X for the first time since 2016, thus ending a four-year rising trend. Over the period under review, consumption showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X, and then declined significantly in the following year.

Positive Displacement Pump Production in Vietnam

In value terms, positive displacement pump production dropped to $X in 2021 estimated in export price. Over the period under review, production, however, saw prominent growth. The pace of growth appeared the most rapid in 2018 with an increase of 43% against the previous year. Positive displacement pump production peaked at $X in 2020, and then reduced in the following year.

Positive Displacement Pump Exports

Exports from Vietnam

Positive displacement pump exports from Vietnam soared to X units in 2021, jumping by 330% on 2020. Over the period under review, exports saw a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, positive displacement pump exports surged to $X in 2021. In general, exports recorded significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Thailand (X units) was the main destination for positive displacement pump exports from Vietnam, accounting for a 84% share of total exports. Moreover, positive displacement pump exports to Thailand exceeded the volume sent to the second major destination, the United States (X units), more than tenfold. Malaysia (X units) ranked third in terms of total exports with a 5.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Thailand amounted to +171.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+74.0% per year) and Malaysia (+94.5% per year).

In value terms, Thailand ($X) emerged as the key foreign market for positive displacement pumps and hand pumps exports from Vietnam, comprising 83% of total exports. The second position in the ranking was taken by the United States ($X), with a 7.2% share of total exports. It was followed by Malaysia, with a 5.5% share.

From 2012 to 2021, the average annual growth rate of value to Thailand totaled +161.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+65.9% per year) and Malaysia (+85.8% per year).

Export Prices by Country

The average positive displacement pump export price stood at $X per unit in 2021, declining by -35.8% against the previous year. In general, the export price saw a perceptible setback. The most prominent rate of growth was recorded in 2017 an increase of 16%. The export price peaked at $X per unit in 2020, and then declined sharply in the following year.

Average prices varied noticeably for the major overseas markets. In 2021, the countries with the highest prices were Lao People's Democratic Republic ($X per unit) and Mexico ($X per unit), while the average price for exports to Thailand ($X per unit) and the UK ($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 China (-3.9%), while the prices for the other major destinations experienced a decline.

Positive Displacement Pump Imports

Imports into Vietnam

In 2021, after seven years of growth, there was significant decline in overseas purchases of positive displacement pumps and hand pumps, when their volume decreased by -19% to X units. Over the period under review, imports, however, enjoyed a prominent expansion. The pace of growth appeared the most rapid in 2020 with an increase of 53% against the previous year. As a result, imports reached the peak of X units, and then shrank significantly in the following year.

In value terms, positive displacement pump imports reduced sharply to $X in 2021. In general, imports, however, enjoyed resilient growth. The pace of growth appeared the most rapid in 2020 with an increase of 54%. As a result, imports attained the peak of $X, and then declined notably in the following year.

Imports by Country

In 2021, China (X units) constituted the largest positive displacement pump supplier to Vietnam, accounting for a 76% share of total imports. Moreover, positive displacement pump imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), sixfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +21.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+16.6% per year) and South Korea (+2.7% per year).

In value terms, China ($X) constituted the largest supplier of positive displacement pumps and hand pumps to Vietnam, comprising 76% of total imports. The second position in the ranking was held by Japan ($X), with a 13% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +20.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+15.2% per year) and South Korea (+1.5% per year).

Import Prices by Country

The average positive displacement pump import price stood at $X per unit in 2021, picking up by 2.2% against the previous year. Overall, the import price, however, saw a mild downturn. The most prominent rate of growth was recorded in 2018 when the average import price increased by 7.9%. Over the period under review, average import prices attained the peak figure at $X per unit in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2021, the country with the highest price was Japan ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (-1.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :