Vietnam: Static Converter Market 2025

Static Converter Market Size in Vietnam

In 2021, the Vietnamese static converter market increased by 20% to $X, rising for the fourth year in a row after five years of decline. Over the period under review, consumption showed prominent growth. Static converter consumption peaked in 2021 and is likely to see gradual growth in the immediate term.

Static Converter Exports

Exports from Vietnam

After two years of growth, overseas shipments of static converters decreased by -45.1% to X units in 2021. Overall, exports, however, enjoyed buoyant growth. The most prominent rate of growth was recorded in 2019 with an increase of 56%. Over the period under review, the exports reached the peak figure at X units in 2020, and then fell notably in the following year.

In value terms, static converter exports contracted rapidly to $X in 2021. Over the period under review, exports, however, continue to indicate a strong expansion. The pace of growth was the most pronounced in 2015 with an increase of 60% against the previous year. Over the period under review, the exports reached the maximum at $X in 2020, and then declined notably in the following year.

Exports by Country

Myanmar (X units) was the main destination for static converter exports from Vietnam, accounting for a approx. 166% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Myanmar totaled +125.4%.

In value terms, Myanmar ($X) emerged as the key foreign market for static converters exports from Vietnam.

From 2012 to 2021, the average annual growth rate of value to Myanmar totaled +142.5%.

Export Prices by Country

In 2021, the average static converter export price amounted to $X per unit, waning by -4.4% against the previous year. Over the period under review, the export price, however, enjoyed resilient growth. The most prominent rate of growth was recorded in 2015 an increase of 121%. The export price peaked at $X per unit in 2020, and then contracted slightly in the following year.

As there is only one major export destination, the average price level is determined by prices for Myanmar.

From 2012 to 2021, the rate of growth in terms of prices for the United States amounted to +9.7% per year.

Static Converter Imports

Imports into Vietnam

In 2021, supplies from abroad of static converters increased by 5.9% to X units, rising for the fifth year in a row after two years of decline. Over the period under review, imports saw a buoyant increase. The growth pace was the most rapid in 2014 when imports increased by 89%. Over the period under review, imports hit record highs in 2021 and are likely to continue growth in the immediate term.

In value terms, static converter imports declined to $X in 2021. Overall, imports recorded a buoyant expansion. The pace of growth was the most pronounced in 2013 with an increase of 54% against the previous year. Imports peaked at $X in 2020, and then reduced in the following year.

Imports by Country

In 2021, China (X units) constituted the largest supplier of static converter to Vietnam, accounting for a 42% share of total imports. Moreover, static converter imports from China exceeded the figures recorded by the second-largest supplier, Hong Kong SAR (X units), sixfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +11.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+5.7% per year) and the Philippines (-12.7% per year).

In value terms, China ($X) constituted the largest supplier of static converters to Vietnam, comprising 74% of total imports. The second position in the ranking was held by Hong Kong SAR ($X), with a 17% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +18.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+12.8% per year) and the Philippines (+0.5% per year).

Import Prices by Country

In 2021, the average static converter import price amounted to $X per unit, falling by -18.8% against the previous year. In general, the import price recorded a mild contraction. The most prominent rate of growth was recorded in 2016 when the average import price increased by 112%. As a result, import price reached the peak level of $X per unit. From 2017 to 2021, the average import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+15.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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