Vietnam: Seat Market 2024

Seat Market Size in Vietnam

The Vietnamese seat market skyrocketed to $X in 2022, picking up by X% against the previous year. Overall, consumption, however, showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Seat Production in Vietnam

In value terms, seat production rose rapidly to $X in 2022 estimated in export price. Over the period under review, production recorded strong growth. The most prominent rate of growth was recorded in 2020 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

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Seat Exports

Exports from Vietnam

After three years of growth, shipments abroad of seats decreased by X% to X units in 2022. In general, exports, however, recorded a strong expansion. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, the exports attained the peak of X units, and then declined in the following year.

In value terms, seat exports declined to $X in 2022. Overall, exports, however, saw strong growth. The pace of growth appeared the most rapid in 2019 when exports increased by X%. The exports peaked at $X in 2021, and then declined in the following year.

Exports by Country

The United States (X units) was the main destination for seat exports from Vietnam, accounting for a X% share of total exports. Moreover, seat exports to the United States exceeded the volume sent to the second major destination, Germany (X units), eightfold. Japan (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 the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and Japan (X% per year).

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

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

Export Prices by Country

In 2022, the average seat export price amounted to $X per unit, falling by X% against the previous year. Overall, export price indicated a temperate increase from 2012 to 2022: its price 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, seat export price decreased by X% against 2020 indices. The growth pace was the most rapid in 2018 when the average export price increased by X%. The export price peaked at $X per unit in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Poland ($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 the United States (X%), while the prices for the other major destinations experienced more modest paces of growth.

Seat Imports

Imports into Vietnam

In 2022, overseas purchases of seats decreased by X% to X units, falling for the second consecutive year after nine years of growth. Over the period under review, imports, however, posted a resilient increase. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Imports peaked at X units in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, seat imports expanded markedly to $X in 2022. Overall, imports, however, enjoyed significant growth. The growth pace was the most rapid in 2018 when imports increased by X%. Imports peaked in 2022 and are likely to continue growth in years to come.

Imports by Country

In 2022, China (X units) constituted the largest supplier of seat to Vietnam, with a X% share of total imports. Moreover, seat imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X units), fourfold. Thailand (X units) ranked third in terms of total imports with a X% share.

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

In value terms, the largest seat suppliers to Vietnam were China ($X), Taiwan (Chinese) ($X) and Thailand ($X), with a combined X% share of total imports.

Among the main suppliers, Taiwan (Chinese), with a CAGR of X%, saw 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

The average seat import price stood at $X per unit in 2022, jumping by X% against the previous year. Overall, the import price enjoyed buoyant growth. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

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

Source: IndexBox Platform

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