Vietnam: Market for Machinery for Liquefying Air or Gases 2024

Market Size for Machinery for Liquefying Air or Gases in Vietnam

The Vietnamese air or gas liquefier market declined to $X in 2022, waning by -7.6% against the previous year. In general, consumption, however, posted moderate growth. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Machinery for Liquefying Air or Gases in Vietnam

In value terms, air or gas liquefier production dropped to $X in 2022 estimated in export price. Over the period under review, production, however, posted a measured expansion. The most prominent rate of growth was recorded in 2017 when the production volume increased by 217%. As a result, production reached the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

Exports of Machinery for Liquefying Air or Gases

Exports from Vietnam

In 2015, after two years of growth, there was decline in shipments abroad of machinery for liquefying air or gases, when their volume decreased by 0% to X units. Overall, total exports indicated a significant increase from 2013 to 2015: its volume increased at an average annual rate of +22.5% over the last two-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2015 figures, exports increased by +50.0% against 2013 indices. The most prominent rate of growth was recorded in 2014 with an increase of 50%. The exports peaked in 2015 and are expected to retain growth in the immediate term.

In value terms, air or gas liquefier exports surged to $X in 2015. In general, exports continue to indicate significant growth. The growth pace was the most rapid in 2014 when exports increased by 66% against the previous year. The exports peaked in 2015 and are expected to retain growth in the near future.

Exports by Country

From 2012 to 2022, the average annual growth rate of volume to No country was relatively modest.

In value terms, Lao People's Democratic Republic ($X) remains the key foreign market for machinery for liquefying air or gases exports from Vietnam, comprising 6.3% of total exports. The second position in the ranking was held by Cambodia ($X), with a 0.2% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Lao People's Democratic Republic amounted to +10.5%.

Export Prices by Country

The average air or gas liquefier export price stood at $X per unit in 2015, surging by 36% against the previous year. Overall, export price indicated significant growth from 2013 to 2015: its price increased at an average annual rate of +27.8% over the last two years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2015 figures, air or gas liquefier export price increased by +63.3% against 2013 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cambodia ($X per unit), while the average price for exports to Lao People's Democratic Republic ($X per unit) was amongst the lowest.

From 2013 to 2015, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (+22.1%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Machinery for Liquefying Air or Gases

Imports into Vietnam

In 2022, air or gas liquefier imports into Vietnam surged to X units, jumping by 100% compared with the previous year's figure. Over the period under review, imports saw resilient growth. The pace of growth was the most pronounced in 2020 with an increase of 200% against the previous year. As a result, imports attained the peak of X units. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, air or gas liquefier imports surged to $X in 2022. In general, imports continue to indicate a prominent expansion. The pace of growth was the most pronounced in 2020 when imports increased by 788%. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest air or gas liquefier supplier to Vietnam, with a 40% share of total imports. Moreover, air or gas liquefier imports from China exceeded the figures recorded by the second-largest supplier, Sweden (X units), fourfold. Japan (X units) ranked third in terms of total imports with a 10% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled -2.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (0.0% per year) and Japan (-29.3% per year).

In value terms, China ($X) constituted the largest supplier of machinery for liquefying air or gases to Vietnam, comprising 72% of total imports. The second position in the ranking was taken by the UK ($X), with an 8% share of total imports. It was followed by Belgium, with a 3.7% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +43.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+34.9% per year) and Belgium (+13.0% per year).

Import Prices by Country

In 2022, the average air or gas liquefier import price amounted to $X per unit, picking up by 93% against the previous year. Over the period under review, the import price posted a buoyant expansion. The pace of growth appeared the most rapid in 2014 an increase of 321% against the previous year. As a result, import price reached the peak level of $X per unit. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per unit), while the price for Poland ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+853.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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