Vietnam: Market for Boards, Consoles, Equipped With Electrical Switching Apparatus For A Voltage Exceeding 1000 V 2024

Market Size for Boards, Consoles, Equipped With Electrical Switching Apparatus For A Voltage Exceeding 1000 V in Vietnam

In 2022, after two years of growth, there was significant decline in the Vietnamese electrical board and console market, when its value decreased by X% to $X. Overall, consumption recorded a slight contraction. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Exports of Boards, Consoles, Equipped With Electrical Switching Apparatus For A Voltage Exceeding 1000 V

Exports from Vietnam

After two years of decline, shipments abroad of boards, consoles, equipped with electrical switching apparatus for a voltage exceeding X v increased by X% to X units in 2022. In general, exports recorded a prominent increase. The pace of growth appeared the most rapid in 2016 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, electrical board and console exports soared to $X in 2022. Over the period under review, exports posted resilient growth. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Taiwan (Chinese) (X units), Japan (X units) and the United States (X units) were the main destinations of electrical board and console exports from Vietnam, together comprising X% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Taiwan (Chinese) (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for electrical board and console exported from Vietnam were Taiwan (Chinese) ($X), Japan ($X) and the United States ($X), together accounting for X% of total exports.

Taiwan (Chinese), with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average electrical board and console export price stood at $X per unit in 2022, growing by X% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the average export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2016 to 2022, the average export prices remained at a lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to China ($X per unit) and Malaysia ($X per unit), while the average price for exports to Mexico ($X per unit) and Cambodia ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (X%), while the prices for the other major destinations experienced mixed trend patterns.

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Imports of Boards, Consoles, Equipped With Electrical Switching Apparatus For A Voltage Exceeding 1000 V

Imports into Vietnam

In 2022, electrical board and console imports into Vietnam reduced notably to X units, which is down by X% on 2021 figures. Over the period under review, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. Imports peaked at X units in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, electrical board and console imports dropped dramatically to $X in 2022. In general, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when imports increased by X%. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest supplier of electrical board and console to Vietnam, with a X% share of total imports. Moreover, electrical board and console imports from China exceeded the figures recorded by the second-largest supplier, Indonesia (X units), more than tenfold. Germany (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (X% per year) and Germany (X% per year).

In value terms, China ($X) constituted the largest supplier of boards, consoles, equipped with electrical switching apparatus for a voltage exceeding X v to Vietnam, comprising X% of total imports. The second position in the ranking was held by Indonesia ($X), with a X% share of total imports. It was followed by Germany, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (X% per year) and Germany (X% per year).

Import Prices by Country

The average electrical board and console import price stood at $X per unit in 2022, remaining relatively unchanged against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Taiwan (Chinese) ($X per unit) and South Korea ($X per unit), while the price for Singapore ($X per unit) and Turkey ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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