Vietnam: Market for Machine Tools For Working Metal 2024

Market Size for Machine Tools For Working Metal in Vietnam

In 2022, the Vietnamese machine-tool for working metal market increased by X% to $X for the first time since 2019, thus ending a two-year declining trend. In general, consumption, however, continues to indicate a abrupt downturn. Machine-tool for working metal consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Production of Machine Tools For Working Metal in Vietnam

In value terms, machine-tool for working metal production totaled $X in 2022 estimated in export price. In general, production, however, saw a dramatic downturn. The most prominent rate of growth was recorded in 2018 with an increase of X%. Machine-tool for working metal production peaked at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

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Exports of Machine Tools For Working Metal

Exports from Vietnam

In 2022, exports of machine tools for working metal from Vietnam surged to X units, picking up by X% compared with the year before. In general, exports recorded significant growth. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, machine-tool for working metal exports skyrocketed to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Thailand (X units) was the main destination for machine-tool for working metal exports from Vietnam, accounting for a X% share of total exports. Moreover, machine-tool for working metal exports to Thailand exceeded the volume sent to the second major destination, Indonesia (X units), twofold. The United States (X units) ranked third in terms of total exports with a X% share.

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

In value terms, Thailand ($X) remains the key foreign market for machine tools for working metal exports from Vietnam, comprising X% of total exports. The second position in the ranking was taken by Indonesia ($X), with an X% share of total exports. It was followed by the United States, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Thailand stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (X% per year) and the United States (X% per year).

Export Prices by Country

In 2022, the average machine-tool for working metal export price amounted to $X per unit, waning by X% against the previous year. Over the period under review, the export price faced a drastic downturn. The most prominent rate of growth was recorded in 2013 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 2014 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belgium ($X per unit), while the average price for exports to Indonesia ($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 Germany (X%), while the prices for the other major destinations experienced a decline.

Imports of Machine Tools For Working Metal

Imports into Vietnam

After two years of decline, overseas purchases of machine tools for working metal increased by X% to X units in 2022. Over the period under review, imports, however, showed a abrupt contraction. The pace of growth appeared the most rapid in 2015 when imports increased by X% against the previous year. As a result, imports attained the peak of X units. From 2016 to 2022, the growth of imports remained at a lower figure.

In value terms, machine-tool for working metal imports soared to $X in 2022. Overall, total imports indicated a pronounced 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, imports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest machine-tool for working metal supplier to Vietnam, with a X% share of total imports. Moreover, machine-tool for working metal imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X units), fourfold. 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 totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (X% per year) and South Korea (X% per year).

In value terms, China ($X) constituted the largest supplier of machine tools for working metal to Vietnam, comprising X% of total imports. The second position in the ranking was held by South Korea ($X), with a X% share of total imports. It was followed by Taiwan (Chinese), with a X% share.

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

Import Prices by Country

The average machine-tool for working metal import price stood at $X per unit in 2022, rising by X% against the previous year. Over the period under review, the import price showed strong growth. The growth pace was the most rapid in 2016 an increase of X% against the previous year. The import price peaked at $X per unit in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per unit), while the price for the UK ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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