Vietnam: Wheeled Loader Market 2024

Wheeled Loader Market Size in Vietnam

The Vietnamese wheeled loader market dropped modestly to $X in 2021, with a decrease of -2.8% 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, however, enjoyed mild growth. Over the period under review, the market attained the maximum level at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Wheeled Loader Exports

Exports from Vietnam

In 2021, wheeled loader exports from Vietnam surged to X units, jumping by 197% on the previous year's figure. In general, exports posted a moderate increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, wheeled loader exports surged to $X in 2021. Over the period under review, exports, however, showed a deep downturn. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Egypt (X units), Lao People's Democratic Republic (X units) and Pakistan (X units) were the main destinations of wheeled loader exports from Vietnam, with a combined 59% share of total exports. These countries were followed by Iraq, Cambodia, China, Mozambique, Taiwan (Chinese), the Netherlands, France, Canada and the United Arab Emirates, which together accounted for a further 35%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Iraq (with a CAGR of +216.2%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for wheeled loader exported from Vietnam were Egypt ($X), Lao People's Democratic Republic ($X) and Cambodia ($X), with a combined 70% share of total exports. Iraq, Mozambique, Pakistan, Taiwan (Chinese), China, the United Arab Emirates, France, Canada, the Netherlands and the United States lagged somewhat behind, together accounting for a further 27%.

Among the main countries of destination, Iraq, with a CAGR of +396.4%, 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

In 2021, the average wheeled loader export price amounted to $X per unit, which is down by -13.5% against the previous year. Over the period under review, the export price recorded a deep slump. The pace of growth appeared the most rapid in 2014 an increase of 20%. The export price peaked 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 overseas markets. In 2021, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while the average price for exports to the Netherlands ($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 Iraq (+73.7%), while the prices for the other major destinations experienced more modest paces of growth.

Wheeled Loader Imports

Imports into Vietnam

In 2021, imports of wheeled loaders, crawler shovel loaders, front-end loaders into Vietnam stood at X units, rising by 2% compared with 2020. Over the period under review, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 411%. Over the period under review, imports hit record highs at X units in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, wheeled loader imports rose notably to $X in 2021. Overall, total imports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +11.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +42.6% against 2018 indices. The pace of growth was the most pronounced in 2013 with an increase of 61%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, China (X units) constituted the largest supplier of wheeled loader to Vietnam, accounting for a 75% share of total imports. Moreover, wheeled loader imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), sevenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +3.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-6.6% per year) and South Korea (0.0% per year).

In value terms, China ($X) constituted the largest supplier of wheeled loaders, crawler shovel loaders, front-end loaders to Vietnam, comprising 79% of total imports. The second position in the ranking was taken by Japan ($X), with a 12% share of total imports.

From 2012 to 2021, the average annual growth rate of value from China stood at +17.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+1.9% per year) and South Korea (+9.7% per year).

Import Prices by Country

The average wheeled loader import price stood at $X per unit in 2021, with an increase of 8.6% against the previous year. In general, the import price continues to indicate a prominent increase. The growth pace was the most rapid in 2016 when the average import price increased by 633%. Over the period under review, average import prices reached the maximum at $X per unit in 2017; however, from 2018 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was China ($X per unit), while the price for South Korea ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+14.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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