Vietnam: Market for Diesel Engines (Other Than For Motor Vehicles And Aircraft) 2024

Market Size for Diesel Engines (Other Than For Motor Vehicles And Aircraft) in Vietnam

The Vietnamese market for diesel engines (other than for motor vehicles and aircraft) contracted to $X in 2022, declining by X% against the previous year. Over the period under review, consumption faced a deep contraction. The pace of growth was the most pronounced in 2021 when the market value increased by X% against the previous year. Consumption of peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Production of Diesel Engines (Other Than For Motor Vehicles And Aircraft) in Vietnam

In value terms, production of diesel engines (other than for motor vehicles and aircraft) shrank to $X in 2022 estimated in export price. Overall, production saw a drastic downturn. The growth pace was the most rapid in 2021 when the production volume increased by X%. Production of peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

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Exports of Diesel Engines (Other Than For Motor Vehicles And Aircraft)

Exports from Vietnam

In 2022, shipments abroad of diesel engines (other than for motor vehicles and aircraft) increased by X% to X units, rising for the third consecutive year after two years of decline. In general, exports continue to indicate resilient growth. The most prominent rate of growth was recorded in 2020 when exports increased by X%. The exports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, exports of diesel engines (other than for motor vehicles and aircraft) soared to $X in 2022. Overall, exports enjoyed a modest increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United Arab Emirates (X units), China (X units) and Malaysia (X units) were the main destinations of exports of diesel engines (other than for motor vehicles and aircraft) from Vietnam, together accounting for 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 the United Arab Emirates (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), China ($X) and Malaysia ($X) were the largest markets for diesel engines (other than for motor vehicles and aircraft) exported from Vietnam worldwide, together comprising X% of total exports.

The United Arab Emirates, with a CAGR of X%, saw the highest growth rate of 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

In 2022, the average export price for diesel engines (other than for motor vehicles and aircraft) amounted to $X per unit, with an increase of X% against the previous year. Over the period under review, the export price, however, continues to indicate a pronounced curtailment. The pace of growth was the most pronounced in 2015 when the average export price increased by X%. 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 somewhat lower figure.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the United Arab Emirates ($X per unit) and the Netherlands ($X per unit), while the average price for exports to Japan ($X per unit) and Malaysia ($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 Nigeria (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Diesel Engines (Other Than For Motor Vehicles And Aircraft)

Imports into Vietnam

In 2022, imports of diesel engines (other than for motor vehicles and aircraft) into Vietnam reached X units, with an increase of X% against the year before. Over the period under review, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when imports increased by X%. Imports peaked at X units in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of diesel engines (other than for motor vehicles and aircraft) surged to $X in 2022. Overall, imports showed a relatively flat trend pattern. Over the period under review, imports of reached the peak figure at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X units), Japan (X units) and South Korea (X units) were the main suppliers of imports of diesel engines (other than for motor vehicles and aircraft) to Vietnam, with a combined X% share of total imports. The United States, Germany, Thailand, France and Singapore lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest diesel engines (other than for motor vehicles and aircraft) suppliers to Vietnam were China ($X), South Korea ($X) and Japan ($X), with a combined X% share of total imports. The United States, Germany, Thailand, France and Singapore lagged somewhat behind, together accounting for a further X%.

Thailand, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for diesel engines (other than for motor vehicles and aircraft) amounted to $X per unit, increasing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The import price peaked at $X per unit in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Korea ($X per unit), while the price for France ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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