Vietnam: Static Converter Market 2024

Static Converter Market Size in Vietnam

For the third year in a row, the Vietnamese static converter market recorded growth in sales value, which increased by X% to $X in 2022. In general, consumption, however, continues to indicate a relatively flat trend pattern. Static converter consumption peaked at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Static Converter Production in Vietnam

In value terms, static converter production contracted modestly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of X%. As a result, production reached the peak level of $X. From 2016 to 2022, production growth remained at a somewhat lower figure.

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Static Converter Exports

Exports from Vietnam

In 2022, overseas shipments of static converters decreased by X% to X units for the first time since 2018, thus ending a three-year rising trend. In general, exports, however, showed a significant increase. The pace of growth was the most pronounced in 2021 with an increase of X%. As a result, the exports reached the peak of X units, and then shrank in the following year.

In value terms, static converter exports declined to $X in 2022. Over the period under review, exports, however, posted significant growth. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then reduced in the following year.

Exports by Country

The United States (X units) was the main destination for static converter exports from Vietnam, with a X% share of total exports. Moreover, static converter exports to the United States exceeded the volume sent to the second major destination, Chile (X units), fivefold. The third position in this ranking was taken by China (X units), with a X% share.

From 2012 to 2022, 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: Chile (X% per year) and China (X% per year).

In value terms, the United States ($X) remains the key foreign market for static converters exports from Vietnam, comprising X% of total exports. The second position in the ranking was held by Chile ($X), with an X% share of total exports. It was followed by China, with a X% share.

From 2012 to 2022, 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: Chile (X% per year) and China (X% per year).

Export Prices by Country

In 2022, the average static converter export price amounted to $X per unit, remaining constant against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 an increase of X%. As a result, the export price attained the peak level of $X per unit. From 2021 to 2022, the average export prices failed to regain momentum.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were Australia ($X per unit) and the United States ($X per unit), while the average price for exports to the UK ($X per unit) and Italy ($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 Italy (X%), while the prices for the other major destinations experienced more modest paces of growth.

Static Converter Imports

Imports into Vietnam

In 2022, imports of static converters into Vietnam reached X units, almost unchanged from the year before. Over the period under review, imports recorded a remarkable increase. The most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, imports reached the peak figure at X units in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, static converter imports rose markedly to $X in 2022. In general, imports recorded a strong expansion. The most prominent rate of growth was recorded in 2019 when imports increased by X%. Imports peaked at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of static converter to Vietnam, accounting for a X% share of total imports. Moreover, static converter imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X units), more than tenfold. The third position in this ranking was held by the Philippines (X units), with a X% share.

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

In value terms, China ($X) constituted the largest supplier of static converters to Vietnam, comprising X% of total imports. The second position in the ranking was held by Thailand ($X), with a X% share of total imports. It was followed by the Philippines, with a X% share.

From 2012 to 2022, 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: Thailand (X% per year) and the Philippines (X% per year).

Import Prices by Country

In 2022, the average static converter import price amounted to $X per unit, with an increase of X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2018 when the average import price increased by X%. The import price peaked in 2022 and is likely to see steady growth in years to come.

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

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

Source: IndexBox Platform

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