Vietnam: Non-Electric Pulley Tackle Market 2025

Non-Electric Pulley Tackle Market Size in Vietnam

The Vietnamese non-electric pulley tackle market declined to $X in 2022, with a decrease of -6% 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, consumption, however, showed temperate growth. Non-electric pulley tackle consumption peaked at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Non-Electric Pulley Tackle Exports

Exports from Vietnam

Non-electric pulley tackle exports from Vietnam reduced remarkably to X units in 2022, waning by -30.6% on the previous year. Over the period under review, exports, however, posted a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 970% against the previous year. As a result, the exports reached the peak of X units, and then declined significantly in the following year.

In value terms, non-electric pulley tackle exports contracted notably to $X in 2022. In general, exports, however, posted a pronounced increase. The pace of growth appeared the most rapid in 2021 with an increase of 545%. As a result, the exports attained the peak of $X, and then shrank sharply in the following year.

Exports by Country

Lao People's Democratic Republic (X units), the United States (X units) and Brunei Darussalam (X units) were the main destinations of non-electric pulley tackle exports from Vietnam, together accounting for 71% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Lao People's Democratic Republic (with a CAGR of +98.6%), while the other leaders experienced more modest paces of growth.

In value terms, Russia ($X) remains the key foreign market for pulley tackle and hoists, non-powered by electric motor exports from Vietnam, comprising 41% of total exports. The second position in the ranking was taken by Lao People's Democratic Republic ($X), with an 18% share of total exports. It was followed by the United States, with a 17% share.

From 2012 to 2022, the average annual growth rate of value to Russia amounted to +80.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lao People's Democratic Republic (+57.7% per year) and the United States (+31.9% per year).

Export Prices by Country

In 2022, the average non-electric pulley tackle export price amounted to $X per unit, dropping by -16.8% against the previous year. Overall, the export price continues to indicate a abrupt slump. The pace of growth appeared the most rapid in 2014 when the average export price increased by 22% against the previous year. The export price peaked at $X per unit in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Russia ($X per unit), while the average price for exports to Norway ($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 Cambodia (+6.5%), while the prices for the other major destinations experienced a decline.

Non-Electric Pulley Tackle Imports

Imports into Vietnam

In 2022, non-electric pulley tackle imports into Vietnam declined slightly to X units, which is down by -4.7% compared with 2021 figures. Over the period under review, imports, however, saw prominent growth. The pace of growth was the most pronounced in 2013 when imports increased by 197% against the previous year. Imports peaked at X units in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, non-electric pulley tackle imports contracted to $X in 2022. Overall, imports, however, recorded a noticeable increase. The most prominent rate of growth was recorded in 2013 when imports increased by 132% against the previous year. Over the period under review, imports attained the maximum at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

China (X units), India (X units) and Malaysia (X units) were the main suppliers of non-electric pulley tackle imports to Vietnam, together comprising 77% of total imports. South Korea, Japan, Ukraine, Singapore, Sweden and the Netherlands lagged somewhat behind, together comprising a further 15%.

From 2012 to 2022, the biggest increases were recorded for Sweden (with a CAGR of +72.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of pulley tackle and hoists, non-powered by electric motor to Vietnam, comprising 60% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 9.9% share of total imports. It was followed by South Korea, with a 4.5% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +8.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+15.0% per year) and South Korea (+1.6% per year).

Import Prices by Country

In 2022, the average non-electric pulley tackle import price amounted to $X per unit, shrinking by -5.9% against the previous year. Over the period under review, the import price saw a deep downturn. The pace of growth was the most pronounced in 2020 an increase of 40% 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 the Netherlands ($X per unit), while the price for India ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+8.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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