Vietnam: Gear Box Market 2024

Gear Box Market Size in Vietnam

The Vietnamese gear box market declined modestly to $X in 2022, with a decrease of X% against the previous year. In general, the total consumption indicated strong growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2016 indices. Gear box consumption peaked at $X in 2021, and then fell in the following year.

Gear Box Production in Vietnam

In value terms, gear box production shrank to $X in 2022 estimated in export price. Over the period under review, the total production indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Gear Box Exports

Exports from Vietnam

In 2022, approx. X units of gear boxes were exported from Vietnam; waning by X% on the year before. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. The exports peaked at X units in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, gear box exports dropped to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. The exports peaked at $X in 2021, and then dropped in the following year.

Exports by Country

China (X units) was the main destination for gear box exports from Vietnam, with a X% share of total exports. Moreover, gear box exports to China exceeded the volume sent to the second major destination, Japan (X units), fourfold. The third position in this ranking was taken by Mexico (X units), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (X% per year) and Mexico (X% per year).

In value terms, China ($X) remains the key foreign market for gear boxes exports from Vietnam, comprising X% of total exports. The second position in the ranking was held by Japan ($X), with a X% share of total exports. It was followed by Mexico, with a X% share.

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

Export Prices by Country

The average gear box export price stood at $X per unit in 2022, dropping by X% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2021 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 countries with the highest prices were Mexico ($X per unit) and Japan ($X per unit), while the average price for exports to Germany ($X per unit) and Thailand ($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 Japan (X%), while the prices for the other major destinations experienced more modest paces of growth.

Gear Box Imports

Imports into Vietnam

In 2022, the amount of gear boxes imported into Vietnam dropped to X units, with a decrease of X% against the previous year's figure. Over the period under review, imports, however, showed a buoyant increase. The growth pace was the most rapid in 2016 when imports increased by X% against the previous year. Imports peaked at X units in 2021, and then dropped in the following year.

In value terms, gear box imports reduced slightly to $X in 2022. Overall, imports, however, enjoyed a strong expansion. The growth pace was the most rapid in 2016 when imports increased by X%. Imports peaked at $X in 2021, and then contracted slightly in the following year.

Imports by Country

In 2022, South Korea (X units) constituted the largest gear box supplier to Vietnam, accounting for a X% share of total imports. Moreover, gear box imports from South Korea exceeded the figures recorded by the second-largest supplier, Japan (X units), twofold. Thailand (X units) ranked third in terms of total imports with a X% share.

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

In value terms, South Korea ($X) constituted the largest supplier of gear boxes to Vietnam, comprising X% of total imports. The second position in the ranking was held by Japan ($X), with a X% share of total imports. It was followed by Thailand, with a X% share.

From 2012 to 2022, the average annual growth rate of value from South Korea stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and Thailand (X% per year).

Import Prices by Country

In 2022, the average gear box import price amounted to $X per unit, increasing by X% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is expected to retain growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were the Philippines ($X per unit) and Indonesia ($X per unit), while the price for Thailand ($X per unit) and South Korea ($X per unit) were amongst the lowest.

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

Source: IndexBox Platform

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