Vietnam: Pump For Liquid Market 2024

Pump For Liquid Market Size in Vietnam

The Vietnamese pump for liquid market soared to $X in 2021, rising by 27% against the previous year. The market value increased at an average annual rate of +3.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2016 to 2021, the growth of the market remained at a lower figure.

Pump For Liquid Production in Vietnam

In value terms, pump for liquid production shrank to $X in 2021 estimated in export price. Over the period under review, production posted a moderate expansion. The most prominent rate of growth was recorded in 2019 when the production volume increased by 50% against the previous year. Pump for liquid production peaked at $X in 2020, and then shrank in the following year.

Pump For Liquid Exports

Exports from Vietnam

For the tenth year in a row, Vietnam recorded growth in shipments abroad of pumps for liquids and liquid elevators, which increased by 156% to X units in 2021. Over the period under review, exports showed a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, pump for liquid exports skyrocketed to $X in 2021. Overall, exports enjoyed a significant increase. The growth pace was the most rapid in 2020 with an increase of 73% against the previous year. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Thailand (X units) was the main destination for pump for liquid exports from Vietnam, accounting for a 66% share of total exports. Moreover, pump for liquid exports to Thailand exceeded the volume sent to the second major destination, the United States (X units), eightfold. The third position in this ranking was held by South Korea (X units), with a 7.7% share.

From 2012 to 2021, the average annual growth rate of volume to Thailand amounted to +91.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+44.4% per year) and South Korea (+129.9% per year).

In value terms, the largest markets for pump for liquid exported from Vietnam were the United States ($X), South Korea ($X) and Thailand ($X), with a combined 55% share of total exports. Mexico, China, Japan and Malaysia lagged somewhat behind, together accounting for a further 26%.

In terms of the main countries of destination, Mexico, with a CAGR of +124.1%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average pump for liquid export price stood at $X per unit in 2021, shrinking by -53.5% against the previous year. In general, the export price saw a deep downturn. The most prominent rate of growth was recorded in 2019 an increase of 37% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Japan ($X per unit), while the average price for exports to Thailand ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+23.4%), while the prices for the other major destinations experienced mixed trend patterns.

Pump For Liquid Imports

Imports into Vietnam

In 2021, after two years of growth, there was significant decline in overseas purchases of pumps for liquids and liquid elevators, when their volume decreased by -8% to X units. Over the period under review, total imports indicated prominent growth from 2012 to 2021: its volume increased at an average annual rate of +6.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +21.6% against 2018 indices. The pace of growth was the most pronounced in 2015 when imports increased by 23%. Imports peaked at X units in 2020, and then declined in the following year.

In value terms, pump for liquid imports surged to $X in 2021. Overall, total imports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +5.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +45.3% against 2017 indices. The most prominent rate of growth was recorded in 2015 with an increase of 57% against the previous year. As a result, imports attained the peak of $X. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest pump for liquid supplier to Vietnam, with a 53% share of total imports. Moreover, pump for liquid imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), fivefold. The third position in this ranking was taken by Indonesia (X units), with a 7.4% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +14.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+5.5% per year) and Indonesia (+7.3% per year).

In value terms, China ($X) constituted the largest supplier of pumps for liquids and liquid elevators to Vietnam, comprising 35% of total imports. The second position in the ranking was taken by Japan ($X), with a 9.5% share of total imports. It was followed by Germany, with a 7.6% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to +10.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-3.2% per year) and Germany (+10.2% per year).

Import Prices by Country

In 2021, the average pump for liquid import price amounted to $X per unit, growing by 25% against the previous year. Over the period under review, the import price, however, saw a mild downturn. The most prominent rate of growth was recorded in 2015 an increase of 27% against the previous year. As a result, import price reached the peak level of $X per unit. From 2016 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+8.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform