Vietnam: Hedge Shear Market 2024

Hedge Shear Market Size in Vietnam

The Vietnamese hedge shear market was estimated at $X in 2023, remaining constant against the previous year. Overall, consumption continues to indicate a perceptible reduction. As a result, consumption reached the peak level of $X. From 2014 to 2023, the growth of the market remained at a lower figure.

Hedge Shear Production in Vietnam

In value terms, hedge shear production stood at $X in 2023 estimated in export price. Overall, production, however, recorded a strong expansion. The pace of growth appeared the most rapid in 2020 when the production volume increased by X%. Hedge shear production peaked at $X in 2021; however, from 2022 to 2023, production failed to regain momentum.

Hedge Shear Exports

Exports from Vietnam

In 2023, overseas shipments of hedge shears and two-handed pruning shears increased by X% to X tons for the first time since 2020, thus ending a two-year declining trend. In general, exports recorded a strong expansion. The growth pace was the most rapid in 2017 with an increase of X%. The exports peaked at X tons in 2020; however, from 2021 to 2023, the exports failed to regain momentum.

In value terms, hedge shear exports declined to $X in 2023. Overall, exports posted significant growth. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. The exports peaked at $X in 2022, and then fell in the following year.

Exports by Country

The United States (X tons) was the main destination for hedge shear exports from Vietnam, with a X% share of total exports. Moreover, hedge shear exports to the United States exceeded the volume sent to the second major destination, the UK (X tons), fivefold. Brazil (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (X% per year) and Brazil (X% per year).

In value terms, the United States ($X) remains the key foreign market for hedge shears and two-handed pruning shears exports from Vietnam, comprising X% of total exports. The second position in the ranking was held by the UK ($X), with a X% share of total exports. It was followed by the Netherlands, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (X% per year) and the Netherlands (X% per year).

Export Prices by Country

The average hedge shear export price stood at $X per ton in 2023, declining by X% against the previous year. In general, export price indicated resilient growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, hedge shear export price increased by X% against 2017 indices. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2022, and then dropped in the following year.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Germany (X%), while the prices for the other major destinations experienced more modest paces of growth.

Hedge Shear Imports

Imports into Vietnam

Hedge shear imports into Vietnam skyrocketed to X tons in 2023, with an increase of X% against the previous year. Overall, imports posted a strong increase. The growth pace was the most rapid in 2014 with an increase of X%. Over the period under review, imports reached the maximum at X tons in 2021; however, from 2022 to 2023, imports failed to regain momentum.

In value terms, hedge shear imports skyrocketed to $X in 2023. Over the period under review, imports showed prominent growth. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. Imports peaked at $X in 2021; however, from 2022 to 2023, imports failed to regain momentum.

Imports by Country

China (X tons), Taiwan (Chinese) (X tons) and Germany (X kg) were the main suppliers of hedge shear imports to Vietnam, with a combined X% share of total imports.

From 2012 to 2023, the biggest increases were recorded for China (with a CAGR of X%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, China ($X) constituted the largest supplier of hedge shears and two-handed pruning shears to Vietnam, comprising X% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a X% share of total imports. It was followed by Germany, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (X% per year) and Germany (X% per year).

Import Prices by Country

The average hedge shear import price stood at $X per ton in 2023, falling by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2016 an increase of X% against the previous year. The import price peaked at $X per ton in 2022, and then contracted notably in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2023, amid the top importers, the countries with the highest prices were China ($X per ton) and Germany ($X per ton), while the price for Japan ($X per ton) and Taiwan (Chinese) ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform