Vietnam: Market for Toothed wheels, chain sprockets and other transmission elements 2024

Market Size for Toothed wheels, chain sprockets and other transmission elements in Vietnam

In 2021, after three years of decline, there was growth in the Vietnamese market for toothed wheels, chain sprockets and other transmission elements, when its value increased by 4.2% to $X. Over the period under review, consumption, however, showed a pronounced decline. Consumption of peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Production of Toothed wheels, chain sprockets and other transmission elements in Vietnam

In value terms, production of toothed wheels, chain sprockets and other transmission elements reached $X in 2021 estimated in export price. Over the period under review, production, however, saw a perceptible shrinkage. The pace of growth appeared the most rapid in 2016 when the production volume increased by 118% against the previous year. Production of peaked at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Join Us at HANNOVER MESSE 2024

Don’t miss your chance to connect with us directly. Schedule a personal meeting to dive deeper into how solutions.
Hall 002, Stand C10. 22 - 26 April 2024 | Hannover, Germany

Book Your Meeting

Exports of Toothed wheels, chain sprockets and other transmission elements

Exports from Vietnam

In 2021, overseas shipments of toothed wheels, chain sprockets and other transmission elements were finally on the rise to reach X tons for the first time since 2016, thus ending a four-year declining trend. In general, total exports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +6.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the exports of attained the maximum at X tons in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, exports of toothed wheels, chain sprockets and other transmission elements surged to $X in 2021. Over the period under review, total exports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +7.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +34.1% against 2019 indices. Over the period under review, the exports of attained the maximum at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

Japan (X tons) was the main destination for exports of toothed wheels, chain sprockets and other transmission elements from Vietnam, accounting for a 37% share of total exports. Moreover, exports of toothed wheels, chain sprockets and other transmission elements to Japan exceeded the volume sent to the second major destination, China (X tons), sixfold. The third position in this ranking was held by the United States (X tons), with a 3.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Japan amounted to -2.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+16.6% per year) and the United States (+33.0% per year).

In value terms, Japan ($X) remains the key foreign market for toothed wheels, chain sprockets and other transmission elements exports from Vietnam, comprising 38% of total exports. The second position in the ranking was held by China ($X), with a 9.6% share of total exports. It was followed by the United States, with a 5.9% share.

From 2012 to 2021, the average annual growth rate of value to Japan amounted to -1.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+13.6% per year) and the United States (+41.4% per year).

Export Prices by Country

In 2021, the average export price for toothed wheels, chain sprockets and other transmission elements amounted to $X per ton, falling by -18.7% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average export price increased by 31% against the previous year. As a result, the export price reached the peak level of $X per ton, and then fell rapidly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Mexico ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (+19.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Toothed wheels, chain sprockets and other transmission elements

Imports into Vietnam

Imports of toothed wheels, chain sprockets and other transmission elements into Vietnam soared to X tons in 2021, rising by 32% on 2020 figures. Overall, imports, however, saw a perceptible reduction. The most prominent rate of growth was recorded in 2014 with an increase of 83%. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports of remained at a lower figure.

In value terms, imports of toothed wheels, chain sprockets and other transmission elements skyrocketed to $X in 2021. Over the period under review, imports saw a strong expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 205%. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports of remained at a somewhat lower figure.

Imports by Country

China (X tons), Japan (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of imports of toothed wheels, chain sprockets and other transmission elements to Vietnam, together comprising 80% of total imports. These countries were followed by South Korea, Germany, Italy, Malaysia and Thailand, which together accounted for a further 13%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +9.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest toothed wheels, chain sprockets and other transmission elements suppliers to Vietnam were China ($X), Japan ($X) and Taiwan (Chinese) ($X), with a combined 80% share of total imports.

In terms of the main suppliers, Taiwan (Chinese), with a CAGR of +14.4%, recorded 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

In 2021, the average import price for toothed wheels, chain sprockets and other transmission elements amounted to $X per ton, increasing by 16% against the previous year. In general, import price indicated a resilient expansion from 2012 to 2021: its price increased at an average annual rate of +8.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, import price for toothed wheels, chain sprockets and other transmission elements increased by +30.0% against 2019 indices. The pace of growth was the most pronounced in 2014 when the average import price increased by 66% against the previous year. Over the period under review, average import prices hit record highs in 2021 and is expected to retain growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Japan ($X per ton) and Italy ($X per ton), while the price for Malaysia ($X per ton) and Thailand ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+9.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :