Vietnam: Metal Threading Machine Market 2024

Metal Threading Machine Market Size in Vietnam

The Vietnamese metal threading machine market plummeted to $X in 2021, reducing by -15.6% 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). Overall, consumption continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market failed to regain momentum.

Metal Threading Machine Exports

Exports from Vietnam

After two years of decline, overseas shipments of threading or tapping machines for working metal increased by 364% to X units in 2021. Overall, exports saw significant growth. The growth pace was the most rapid in 2016 when exports increased by 445% against the previous year. As a result, the exports reached the peak of X units. From 2017 to 2021, the growth of the exports failed to regain momentum.

In value terms, metal threading machine exports skyrocketed to $X in 2021. Over the period under review, exports continue to indicate significant growth. The most prominent rate of growth was recorded in 2016 with an increase of 389% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

India (X units) was the main destination for metal threading machine exports from Vietnam, accounting for a 75% share of total exports. Moreover, metal threading machine exports to India exceeded the volume sent to the second major destination, Japan (X units), fivefold. Turkey (X units) ranked third in terms of total exports with a 7.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to India stood at +594.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-25.9% per year) and Turkey (0.0% per year).

In value terms, India ($X) emerged as the key foreign market for threading or tapping machines for working metal exports from Vietnam, comprising 68% of total exports. The second position in the ranking was held by Japan ($X), with a 24% share of total exports. It was followed by Turkey, with a 6.7% share.

From 2012 to 2021, the average annual growth rate of value to India totaled +449.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-24.6% per year) and Turkey (0.0% per year).

Export Prices by Country

The average metal threading machine export price stood at $X per unit in 2021, declining by -38.6% against the previous year. Over the period under review, the export price continues to indicate a pronounced reduction. The most prominent rate of growth was recorded in 2017 an increase of 31%. Over the period under review, the average export prices attained the peak figure at $X per unit in 2020, and then reduced dramatically in the following year.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Japan ($X per unit), while the average price for exports to Turkey ($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 Japan (+1.7%), while the prices for the other major destinations experienced a decline.

Metal Threading Machine Imports

Imports into Vietnam

In 2021, approx. X units of threading or tapping machines for working metal were imported into Vietnam; increasing by 20% against the previous year. Overall, imports recorded a moderate expansion. The most prominent rate of growth was recorded in 2019 with an increase of 290% against the previous year. As a result, imports reached the peak of X units. From 2020 to 2021, the growth of imports failed to regain momentum.

In value terms, metal threading machine imports shrank significantly to $X in 2021. In general, imports saw mild growth. The growth pace was the most rapid in 2019 when imports increased by 433%. As a result, imports attained the peak of $X. From 2020 to 2021, the growth of imports remained at a lower figure.

Imports by Country

South Korea (X units), China (X units) and Taiwan (Chinese) (X units) were the main suppliers of metal threading machine imports to Vietnam, together comprising 91% of total imports.

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +40.1%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest metal threading machine suppliers to Vietnam were South Korea ($X), China ($X) and Taiwan (Chinese) ($X), with a combined 91% share of total imports.

In terms of the main suppliers, South Korea, with a CAGR of +38.6%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average metal threading machine import price stood at $X per unit in 2021, reducing by -32.9% against the previous year. Overall, the import price continues to indicate a slight descent. The pace of growth appeared the most rapid in 2020 when the average import price increased by 44%. As a result, import price reached the peak level of $X per unit, and then fell markedly in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Japan ($X per unit) and Taiwan (Chinese) ($X per unit), while the price for China ($X per unit) and South Korea ($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 (-1.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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