Vietnam: Market for Non-Electronic Hydro-, Hygro-, Psychrometers 2024

Market Size for Non-Electronic Hydro-, Hygro-, Psychrometers in Vietnam

In 2022, the Vietnamese non-electronic hydro- and hygrometers market increased by X% to $X, rising for the second consecutive year after two years of decline. Overall, consumption posted prominent growth. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in the near future.

Exports of Non-Electronic Hydro-, Hygro-, Psychrometers

Exports from Vietnam

In 2022, overseas shipments of non-electronic hydro-, hygro-, psychrometers decreased by X% to X units for the first time since 2017, thus ending a four-year rising trend. Over the period under review, exports, however, posted significant growth. The pace of growth appeared the most rapid in 2013 with an increase of X%. Over the period under review, the exports hit record highs at X units in 2021, and then declined markedly in the following year.

In value terms, non-electronic hydro- and hygrometers exports soared to $X in 2022. Overall, exports, however, enjoyed a significant expansion. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

The United States (X units) was the main destination for non-electronic hydro- and hygrometers exports from Vietnam, accounting for a X% share of total exports. Moreover, non-electronic hydro- and hygrometers exports to the United States exceeded the volume sent to the second major destination, China (X units), more than tenfold. The third position in this ranking was held by South Korea (X units), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (X% per year) and South Korea (X% per year).

In value terms, the United States ($X) remains the key foreign market for non-electronic hydro-, hygro-, psychrometers exports from Vietnam, comprising X% of total exports. The second position in the ranking was taken by China ($X), with a X% share of total exports. It was followed by Singapore, with a X% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (X% per year) and Singapore (X% per year).

Export Prices by Country

The average non-electronic hydro- and hygrometers export price stood at $X per unit in 2022, surging by X% against the previous year. In general, the export price showed moderate growth. The pace of growth was the most pronounced in 2019 an increase of X%. The export price peaked in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per unit), while the average price for exports to Mexico ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (X%), while the prices for the other major destinations experienced more modest paces of growth.

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Imports of Non-Electronic Hydro-, Hygro-, Psychrometers

Imports into Vietnam

For the third consecutive year, Vietnam recorded growth in overseas purchases of non-electronic hydro-, hygro-, psychrometers, which increased by X% to X units in 2022. In general, imports saw a remarkable increase. The pace of growth was the most pronounced in 2018 with an increase of X%. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, non-electronic hydro- and hygrometers imports stood at $X in 2022. Over the period under review, imports saw prominent growth. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Imports peaked in 2022 and are likely to continue growth in years to come.

Imports by Country

In 2022, China (X units) constituted the largest non-electronic hydro- and hygrometers supplier to Vietnam, with a X% share of total imports. Moreover, non-electronic hydro- and hygrometers imports from China exceeded the figures recorded by the second-largest supplier, the UK (X units), threefold. The third position in this ranking was taken by South Korea (X units), with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (X% per year) and South Korea (X% per year).

In value terms, China ($X), the UK ($X) and South Korea ($X) constituted the largest non-electronic hydro- and hygrometers suppliers to Vietnam, with a combined X% share of total imports.

In terms of the main suppliers, the UK, with a CAGR of X%, saw the highest growth rate of 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

The average non-electronic hydro- and hygrometers import price stood at $X per unit in 2022, shrinking by X% against the previous year. Overall, the import price saw a abrupt setback. The most prominent rate of growth was recorded in 2016 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the maximum at $X per unit in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per unit), while the price for China ($X per unit) was 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 mixed trend patterns.

Source: IndexBox Platform

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