Vietnam: Market for Cycles with Auxiliary Motors and Side Cars 2025

Market Size for Cycles with Auxiliary Motors and Side Cars in Vietnam

The Vietnamese market for cycles with auxiliary motors and side cars contracted significantly to $X in 2021, reducing by -51.1% against the previous year. Over the period under review, consumption, however, showed a strong expansion. Over the period under review, the market reached the peak level at $X in 2020, and then declined rapidly in the following year.

Production of Cycles with Auxiliary Motors and Side Cars in Vietnam

In value terms, production of cycles with auxiliary motors and side cars declined rapidly to $X in 2021 estimated in export price. Overall, production, however, saw significant growth. The growth pace was the most rapid in 2017 when the production volume increased by 1,085%. Over the period under review, production of attained the maximum level at $X in 2020, and then contracted rapidly in the following year.

Exports of Cycles with Auxiliary Motors and Side Cars

Exports from Vietnam

For the sixth consecutive year, Vietnam recorded growth in shipments abroad of cycles with auxiliary motors and side cars, which increased by 87% to X units in 2021. Overall, exports continue to indicate significant growth. The most prominent rate of growth was recorded in 2017 when exports increased by 335%. Over the period under review, the exports of hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, exports of cycles with auxiliary motors and side cars soared to $X in 2021. In general, exports showed significant growth. The pace of growth was the most pronounced in 2017 when exports increased by 172%. Over the period under review, the exports of attained the maximum in 2021 and are expected to retain growth in the near future.

Exports by Country

The Netherlands (X units), the United States (X units) and Germany (X units) were the main destinations of exports of cycles with auxiliary motors and side cars from Vietnam, with a combined 46% share of total exports.

From 2012 to 2021, the biggest increases were recorded for the Netherlands (with a CAGR of +263.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X) remains the key foreign market for cycles with auxiliary motors and side cars exports from Vietnam, comprising 31% of total exports. The second position in the ranking was taken by the United States ($X), with an 11% share of total exports. It was followed by Germany, with a 4.2% share.

From 2012 to 2021, the average annual growth rate of value to the Netherlands totaled +278.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+142.5% per year) and Germany (+18.1% per year).

Export Prices by Country

The average export price for cycles with auxiliary motors and side cars stood at $X per unit in 2021, with a decrease of -3.1% against the previous year. In general, the export price, however, saw a prominent expansion. The most prominent rate of growth was recorded in 2015 when the average export price increased by 124% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2016 to 2021, the average 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 the UK ($X per unit), while the average price for exports to the Philippines ($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 the Philippines (+7.5%), while the prices for the other major destinations experienced a decline.

Imports of Cycles with Auxiliary Motors and Side Cars

Imports into Vietnam

Imports of cycles with auxiliary motors and side cars into Vietnam skyrocketed to X units in 2021, growing by 38,883% against the previous year. Over the period under review, imports showed significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, imports of cycles with auxiliary motors and side cars skyrocketed to $X in 2021. In general, imports saw a significant expansion. Imports peaked at $X in 2016; however, from 2017 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest supplier of cycle with auxiliary motor and side car to Vietnam, with a 59% share of total imports. Moreover, imports of cycles with auxiliary motors and side cars from China exceeded the figures recorded by the second-largest supplier, France (X units), fivefold. The United States (X units) ranked third in terms of total imports with a 7.3% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +17.2%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+206.4% per year) and the United States (+69.5% per year).

In value terms, China ($X), the United States ($X) and France ($X) appeared to be the largest cycle with auxiliary motor and side car suppliers to Vietnam, together comprising 74% of total imports.

In terms of the main suppliers, France, with a CAGR of +101.4%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average import price for cycles with auxiliary motors and side cars amounted to $X per unit, dropping by -46.1% against the previous year. In general, the import price continues to indicate a perceptible setback. The pace of growth was the most pronounced in 2014 when the average import price increased by 101% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

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 ($X per unit), while the price for France ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+17.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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