Vietnam: Electric Rotary Converter Market 2024

Electric Rotary Converter Market Size in Vietnam

The Vietnamese electric rotary converter market surged to $X in 2021, with an increase of 49% against the previous year. Over the period under review, consumption, however, continues to indicate a abrupt decline. Electric rotary converter consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Electric Rotary Converter Production in Vietnam

In value terms, electric rotary converter production reduced slightly to $X in 2021 estimated in export price. In general, production showed a abrupt curtailment. The pace of growth was the most pronounced in 2017 when the production volume increased by 0.9% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

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Electric Rotary Converter Exports

Exports from Vietnam

In 2021, after two years of growth, there was significant decline in shipments abroad of electric rotary converters, when their volume decreased by -38.2% to X units. Overall, exports, however, enjoyed a significant increase. The growth pace was the most rapid in 2020 with an increase of 203,887% against the previous year. As a result, the exports reached the peak of X units, and then reduced remarkably in the following year.

In value terms, electric rotary converter exports shrank slightly to $X in 2021. Over the period under review, exports, however, continue to indicate significant growth. The growth pace was the most rapid in 2020 when exports increased by 99,940%. As a result, the exports reached the peak of $X, and then fell modestly in the following year.

Exports by Country

Germany (X units) was the main destination for electric rotary converter exports from Vietnam, accounting for a 85% share of total exports. Moreover, electric rotary converter exports to Germany exceeded the volume sent to the second major destination, Sweden (X units), more than tenfold. Switzerland (X units) ranked third in terms of total exports with a 5.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Germany totaled +159.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (+26.2% per year) and Switzerland (+1,314.2% per year).

In value terms, Switzerland ($X), Germany ($X) and Sweden ($X) were the largest markets for electric rotary converter exported from Vietnam worldwide, with a combined 79% share of total exports.

Switzerland, with a CAGR of +4,137.1%, saw 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 electric rotary converter export price amounted to $X per unit, jumping by 59% against the previous year. Over the period under review, the export price, however, recorded a abrupt descent. The most prominent rate of growth was recorded in 2018 when the average export price increased by 86% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Switzerland ($X per unit), while the average price for exports to Germany ($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 Switzerland (+213.1%), while the prices for the other major destinations experienced more modest paces of growth.

Electric Rotary Converter Imports

Imports into Vietnam

In 2021, after two years of growth, there was significant decline in overseas purchases of electric rotary converters, when their volume decreased by -85.2% to X units. In general, imports, however, saw resilient growth. The most prominent rate of growth was recorded in 2020 with an increase of 502%. As a result, imports attained the peak of X units, and then declined remarkably in the following year.

In value terms, electric rotary converter imports reduced notably to $X in 2021. Overall, imports recorded a deep slump. The most prominent rate of growth was recorded in 2020 with an increase of 744%. As a result, imports reached the peak of $X, and then declined notably in the following year.

Imports by Country

In 2021, India (X units) constituted the largest supplier of electric rotary converter to Vietnam, accounting for a 67% share of total imports. Moreover, electric rotary converter imports from India exceeded the figures recorded by the second-largest supplier, Japan (X units), fivefold. The third position in this ranking was held by Austria (X units), with a 5.9% share.

From 2012 to 2021, the average annual growth rate of volume from India totaled +49.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+43.0% per year) and Austria (+14.3% per year).

In value terms, India ($X) constituted the largest supplier of electric rotary converters to Vietnam, comprising 50% of total imports. The second position in the ranking was taken by Japan ($X), with an 11% share of total imports. It was followed by Austria, with a 2.9% share.

From 2012 to 2021, the average annual growth rate of value from India amounted to +40.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+42.2% per year) and Austria (+14.0% per year).

Import Prices by Country

In 2021, the average electric rotary converter import price amounted to $X per unit, dropping by -31.4% against the previous year. Over the period under review, the import price continues to indicate a abrupt downturn. The pace of growth was the most pronounced in 2014 an increase of 62% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was the UK ($X per unit), while the price for Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+12.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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