Vietnam: Market for Machine Tools For Working Metal Without Removing Metal 2023

Market Size for Machine Tools For Working Metal Without Removing Metal in Vietnam

For the third consecutive year, the Vietnamese machine tool for metal market recorded decline in sales value, which decreased by -24.6% to $X in 2021. In general, consumption showed a abrupt downturn. Machine tool for metal consumption peaked at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Exports of Machine Tools For Working Metal Without Removing Metal

Exports from Vietnam

In 2021, exports of machine tools for working metal without removing metal from Vietnam dropped slightly to X units, which is down by -1.9% against the previous year. In general, exports recorded a perceptible decrease. The pace of growth was the most pronounced in 2018 when exports increased by 178%. The exports peaked at X units in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, machine tool for metal exports declined sharply to $X in 2021. Overall, exports saw a deep reduction. The most prominent rate of growth was recorded in 2018 with an increase of 231% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China (X units) was the main destination for machine tool for metal exports from Vietnam, accounting for a 31% share of total exports. Moreover, machine tool for metal exports to China exceeded the volume sent to the second major destination, Germany (X units), twofold. Japan (X units) ranked third in terms of total exports with a 10% share.

From 2012 to 2021, the average annual growth rate of volume to China totaled +91.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+184.4% per year) and Japan (-27.3% per year).

In value terms, China ($X), Germany ($X) and South Korea ($X) were the largest markets for machine tool for metal exported from Vietnam worldwide, together accounting for 59% of total exports.

Germany, with a CAGR of +198.3%, recorded the highest growth rate of the value of exports, in terms of 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 2021, the average machine tool for metal export price amounted to $X per unit, shrinking by -33% against the previous year. Over the period under review, the export price showed a perceptible downturn. The pace of growth was the most pronounced in 2017 an increase of 21% against the previous year. The export price peaked at $X per unit in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Germany ($X per unit), while the average price for exports to Myanmar ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Myanmar (+39.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Machine Tools For Working Metal Without Removing Metal

Imports into Vietnam

For the sixth year in a row, Vietnam recorded decline in overseas purchases of machine tools for working metal without removing metal, which decreased by -10.7% to X units in 2021. Over the period under review, imports recorded a deep setback. The most prominent rate of growth was recorded in 2015 with an increase of 43% against the previous year. As a result, imports reached the peak of X units. From 2016 to 2021, the growth of imports failed to regain momentum.

In value terms, machine tool for metal imports fell remarkably to $X in 2021. Overall, imports continue to indicate a abrupt slump. The pace of growth appeared the most rapid in 2013 with an increase of 45%. Over the period under review, imports attained the peak figure at $X in 2015; however, from 2016 to 2021, imports failed to regain momentum.

Imports by Country

China (X units), Taiwan (Chinese) (X units) and Japan (X units) were the main suppliers of machine tool for metal imports to Vietnam, together comprising 69% of total imports. These countries were followed by Spain, Switzerland, South Korea, Italy and Germany, which together accounted for a further 27%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of +155.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Taiwan (Chinese) ($X) and Spain ($X) appeared to be the largest machine tool for metal suppliers to Vietnam, with a combined 69% share of total imports.

Among the main suppliers, Spain, with a CAGR of +172.8%, recorded 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

In 2021, the average machine tool for metal import price amounted to $X per unit, which is down by -18.4% against the previous year. Over the period under review, import price indicated buoyant growth from 2012 to 2021: its price increased at an average annual rate of +6.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 an increase of 34%. Over the period under review, average import prices hit record highs at $X per unit in 2020, and then dropped dramatically in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2021, the countries with the highest prices were Spain ($X per unit) and Japan ($X per unit), while the price for Italy ($X per unit) and South Korea ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+6.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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