Vietnam: Market for Side Cars and Cycles with Non-Combustion Motors 2024

Market Size for Side Cars and Cycles with Non-Combustion Motors in Vietnam

The Vietnamese market for side cars and cycles with non-combustion motors contracted dramatically to $X in 2022, with a decrease of X% against the previous year. Overall, consumption, however, saw a resilient increase. Consumption of peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of Side Cars and Cycles with Non-Combustion Motors in Vietnam

In value terms, production of side cars and cycles with non-combustion motors expanded notably to $X in 2022 estimated in export price. Overall, production saw a significant increase. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, production of reached the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Side Cars and Cycles with Non-Combustion Motors

Exports from Vietnam

In 2022, the amount of side cars and cycles with non-combustion motors exported from Vietnam surged to X units, with an increase of X% against 2021. In general, exports enjoyed a significant expansion. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. The exports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, exports of side cars and cycles with non-combustion motors skyrocketed to $X in 2022. Over the period under review, exports saw a significant expansion. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, the exports of reached the maximum in 2022 and are expected to retain growth in the immediate term.

Exports by Country

The Netherlands (X units), the United States (X units) and Germany (X units) were the main destinations of exports of side cars and cycles with non-combustion motors from Vietnam, together accounting for X% of total exports.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), the United States ($X) and Germany ($X) appeared to be the largest markets for side car and cycle with non-combustion motor exported from Vietnam worldwide, together accounting for X% of total exports.

The Netherlands, with a CAGR of X%, saw the highest rates of growth with regard to 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 2022, the average export price for side cars and cycles with non-combustion motors amounted to $X per unit, dropping by X% against the previous year. In general, the export price continues to indicate a abrupt decline. The growth pace was the most rapid in 2017 when the average export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2018 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per unit), while the average price for exports to Sweden ($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 Japan (X%), while the prices for the other major destinations experienced a decline.

Imports of Side Cars and Cycles with Non-Combustion Motors

Imports into Vietnam

In 2022, overseas purchases of side cars and cycles with non-combustion motors decreased by X% to X units for the first time since 2019, thus ending a two-year rising trend. Over the period under review, imports showed a deep contraction. The pace of growth was the most pronounced in 2017 when imports increased by X%. As a result, imports reached the peak of X units. From 2018 to 2022, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of side cars and cycles with non-combustion motors expanded modestly to $X in 2022. In general, imports showed a deep reduction. The growth pace was the most rapid in 2017 with an increase of X%. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports of failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest side car and cycle with non-combustion motor supplier to Vietnam, with a X% share of total imports. Moreover, imports of side cars and cycles with non-combustion motors from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X units), ninefold.

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

In value terms, China ($X) constituted the largest supplier of side cars and cycles with non-combustion motors to Vietnam, comprising X% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a X% share of total imports.

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

Import Prices by Country

In 2022, the average import price for side cars and cycles with non-combustion motors amounted to $X per unit, increasing by X% against the previous year. Over the period under review, the import price continues to indicate a strong expansion. The most prominent rate of growth was recorded in 2018 an increase of X%. As a result, import price attained the peak level of $X per unit. From 2019 to 2022, the average import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per unit), while the price for China ($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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