Vietnam: Stone Sawing Machine Market 2024

Stone Sawing Machine Market Size in Vietnam

The Vietnamese stone sawing machine market soared to $X in 2021, jumping by 26% 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). Overall, consumption saw a notable expansion. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market failed to regain momentum.

Stone Sawing Machine Exports

Exports from Vietnam

In 2021, approx. X units of sawing machines for working stone, ceramics and concrete were exported from Vietnam; waning by -50% against 2020. In general, exports saw a drastic downturn. The growth pace was the most rapid in 2014 when exports increased by 239% against the previous year. The exports peaked at X units in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, stone sawing machine exports declined sharply to $X in 2021. Overall, exports recorded a noticeable slump. The pace of growth was the most pronounced in 2014 with an increase of 97% against the previous year. Over the period under review, the exports reached the maximum at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

Cambodia (X units) was the main destination for stone sawing machine exports from Vietnam, accounting for a 48% share of total exports. Moreover, stone sawing machine exports to Cambodia exceeded the volume sent to the second major destination, South Korea (X units), threefold. Australia (X units) ranked third in terms of total exports with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Cambodia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+45.4% per year) and Australia (-21.9% per year).

In value terms, the United States ($X) remains the key foreign market for sawing machines for working stone, ceramics and concrete exports from Vietnam, comprising 59% of total exports. The second position in the ranking was taken by South Korea ($X), with a 19% share of total exports. It was followed by Cambodia, with a 9.3% share.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to +5.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+39.1% per year) and Cambodia (+1.9% per year).

Export Prices by Country

The average stone sawing machine export price stood at $X per unit in 2021, with a decrease of -30.1% against the previous year. Overall, the export price, however, posted a strong increase. The pace of growth was the most pronounced in 2016 an increase of 66% against the previous year. The export price peaked at $X per unit in 2020, and then fell markedly in the following year.

Prices varied noticeably country of destination: the country with the highest price was the United States ($X per unit), while the average price for exports to Cambodia ($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 Australia (+14.2%), while the prices for the other major destinations experienced more modest paces of growth.

Stone Sawing Machine Imports

Imports into Vietnam

Stone sawing machine imports into Vietnam soared to X units in 2021, growing by 22% on the previous year. In general, imports recorded pronounced growth. The most prominent rate of growth was recorded in 2013 with an increase of 370% against the previous year. As a result, imports reached the peak of X units. From 2014 to 2021, the growth of imports failed to regain momentum.

In value terms, stone sawing machine imports surged to $X in 2021. Overall, imports saw a strong expansion. The pace of growth was the most pronounced in 2013 when imports increased by 257% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest stone sawing machine supplier to Vietnam, with a 78% share of total imports. Moreover, stone sawing machine imports from China exceeded the figures recorded by the second-largest supplier, Italy (X units), more than tenfold. The third position in this ranking was held by the United States (X units), with a 6.6% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +8.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-15.5% per year) and the United States (+50.9% per year).

In value terms, China ($X) constituted the largest supplier of sawing machines for working stone, ceramics and concrete to Vietnam, comprising 77% of total imports. The second position in the ranking was held by Italy ($X), with a 6.7% share of total imports. It was followed by the United States, with a 6.6% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to +11.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-13.2% per year) and the United States (+55.4% per year).

Import Prices by Country

In 2021, the average stone sawing machine import price amounted to $X per unit, remaining relatively unchanged against the previous year. In general, import price indicated temperate growth from 2012 to 2021: its price increased at an average annual rate of +2.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, stone sawing machine import price decreased by -8.3% against 2019 indices. The pace of growth appeared the most rapid in 2017 an increase of 92% against the previous year. Over the period under review, average import prices reached the peak figure at $X per unit in 2019; however, from 2020 to 2021, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, the highest price was recorded for prices from South Korea ($X per unit) and the United States ($X per unit), while the price for China ($X per unit) and Italy ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+3.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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