Report Vietnam - Tractors - Market Analysis, Forecast, Size, Trends and Insights for 499$
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Vietnam - Tractors - Market Analysis, Forecast, Size, Trends and Insights
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Vietnam: Tractor Market 2022

Tractor Market Size in Vietnam

In 2021, the Vietnamese tractor market increased by 8.4% to $X, rising for the second consecutive year after four years of decline. Over the period under review, consumption, however, showed a perceptible reduction. Tractor consumption peaked at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Tractor Production in Vietnam

In value terms, tractor production shrank rapidly to $X in 2021 estimated in export price. In general, the total production indicated a mild expansion from 2012 to 2021: its value increased at an average annual rate of +1.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +48.3% against 2017 indices. The most prominent rate of growth was recorded in 2020 when the production volume increased by 55%. As a result, production reached the peak level of $X, and then declined rapidly in the following year.

Tractor Exports

Exports from Vietnam

Tractor exports from Vietnam skyrocketed to X units in 2021, picking up by 55% compared with 2020 figures. In general, total exports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +8.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +89.3% against 2019 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, tractor exports contracted to $X in 2021. Over the period under review, exports, however, showed a noticeable decline. The most prominent rate of growth was recorded in 2017 when exports increased by 52% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Sri Lanka (X units) was the main destination for tractor exports from Vietnam, with a 14% share of total exports. Moreover, tractor exports to Sri Lanka exceeded the volume sent to the second major destination, the Netherlands (X units), twofold. The third position in this ranking was taken by Germany (X units), with a 5.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Sri Lanka totaled -5.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+12.8% per year) and Germany (+21.0% per year).

In value terms, Sri Lanka ($X), the United States ($X) and the Netherlands ($X) constituted the largest markets for tractor exported from Vietnam worldwide, together comprising 37% of total exports. The Philippines, Germany, Cambodia, Australia, Uruguay and the Czech Republic lagged somewhat behind, together comprising a further 47%.

The Czech Republic, with a CAGR of +45.4%, 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

The average tractor export price stood at $X per unit in 2021, which is down by -44.3% against the previous year. Over the period under review, the export price showed a deep reduction. The pace of growth was the most pronounced in 2019 when the average export price increased by 64% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Cambodia ($X per unit), while the average price for exports to the Czech Republic ($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 Cambodia (+4.4%), while the prices for the other major destinations experienced more modest paces of growth.

Tractor Imports

Imports into Vietnam

In 2021, purchases abroad of tractors increased by 49% to X units, rising for the second consecutive year after four years of decline. Overall, imports recorded a relatively flat trend pattern. Over the period under review, imports attained the peak figure at X units in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, tractor imports soared to $X in 2021. In general, imports, however, saw a pronounced shrinkage. The most prominent rate of growth was recorded in 2014 when imports increased by 24%. Imports peaked at $X in 2015; however, from 2016 to 2021, imports failed to regain momentum.

Imports by Country

China (X units), Japan (X units) and Thailand (X units) were the main suppliers of tractor imports to Vietnam, with a combined 75% share of total imports.

From 2012 to 2021, the biggest increases were in Thailand (with a CAGR of +88.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of tractor to Vietnam, comprising 41% of total imports. The second position in the ranking was held by Japan ($X), with a 17% share of total imports. It was followed by Thailand, with a 15% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to +5.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+10.1% per year) and Thailand (+73.7% per year).

Import Prices by Country

The average tractor import price stood at $X per unit in 2021, falling by -22% against the previous year. In general, the import price continues to indicate a perceptible slump. The growth pace was the most rapid in 2013 an increase of 21% against the previous year. The import price peaked at $X per unit in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-1.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform

Base Year Historical Period Forecast Period Units
2021 2007-2021 2022-2030 US$, Tons

Frequently Asked Questions (FAQ) :

What are the largest markets for tractors in the world?
+
The countries with the highest volumes of consumption in 2021 were China, the United States and India, with a combined 35% share of global consumption.
What are the largest producers of tractors in the world?
+
The country with the largest volume of tractor production was China, comprising approx. 18% of total volume. Moreover, tractor production in China exceeded the figures recorded by the second-largest producer, the United States, twofold. The third position in this ranking was held by India, with a 7.3% share.
What are the leading suppliers of tractors to Vietnam?
+
In value terms, China constituted the largest supplier of tractor to Vietnam, comprising 41% of total imports. The second position in the ranking was taken by Japan, with a 17% share of total imports. It was followed by Thailand, with a 15% share.
What are the leading importers of tractors from Vietnam?
+
In value terms, the largest markets for tractor exported from Vietnam were Sri Lanka, the United States and the Netherlands, together accounting for 37% of total exports. The Philippines, Germany, Cambodia, Australia, Uruguay and the Czech Republic lagged somewhat behind, together comprising a further 47%.
What is the average export price for tractors in Vietnam?
+
In 2021, the average tractor export price amounted to $4,578 per unit, falling by -44.3% against the previous year.
What is the average import price for tractors in Vietnam?
+
The average tractor import price stood at $16,045 per unit in 2021, reducing by -22% against the previous year.

This report provides an in-depth analysis of the tractor market in Vietnam. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.


Product coverage:
• Prodcom 28301000 - Pedestrian-controlled tractors
• Prodcom 28302100 - New agricultural and forestry tractors, wheeled, of an engine power . .37 kW
• Prodcom 28302200 - New agricultural and forestry tractors, wheeled, of an engine power > .37 kW but . .59 kW (excluding pedestrian-controlled tractors)
• Prodcom 28302330 - New agricultural and forestry tractors, wheeled, of an engine power > .59 kW but . .75 kW (excluding pedestrian-controlled tractors)
• Prodcom 28302350 - New agricultural and forestry tractors, wheeled, of an engine power > .75 kW but . .90 kW (excluding pedestrian-controlled tractors)
• Prodcom 28302370 - New agricultural and forestry tractors, wheeled, of an engine power > .90 kW (excluding pedestrian-controlled tractors)
• Prodcom 28302390 - New tractors excluding agricultural/forestry tractors, wheeled, p edestrian-controlled tractors - road tractors for semi-trailers, t rack-laying tractors -tractors used on railway platforms
• Prodcom 28925000 - (Crawler tractors) Track-laying tractors
• Prodcom 29104300 - Road tractors for semi-trailers
Country coverage:
• Vietnam

Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Trade (exports and imports) in Vietnam
• Export and import prices
• Market trends, drivers and restraints
• Key market players and their profiles

Reasons to buy this report:
• Take advantage of the latest data
• Find deeper insights into current market developments
• Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
REPORT DESCRIPTION
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
8. IMPORTS

The Largest Import Supplying Countries

8.1
IMPORTS FROM 2012–2021
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2012–2021
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

LIST OF TABLES
Table 1:
Key Findings In 2021
Table 2:
Market Volume, In Physical Terms, 2012–2021
Table 3:
Market Value, 2012–2021
Table 4:
Per Capita Consumption In 2007-2021
Table 5:
Imports, In Physical Terms, By Country, 2012–2021
Table 6:
Imports, In Value Terms, By Country, 2012–2021
Table 7:
Import Prices, By Country Of Origin, 2012–2021
Table 8:
Exports, In Physical Terms, By Country, 2012–2021
Table 9:
Exports, In Value Terms, By Country, 2012–2021
Table 10:
Export Prices, By Country Of Destination, 2012–2021
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2012–2021
Figure 2:
Market Value, 2012–2021
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007-2021
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007-2021
Figure 5:
Trade Balance, In Physical Terms, 2007-2021
Figure 6:
Trade Balance, In Value Terms, 2007-2021
Figure 7:
Per Capita Consumption, 2007-2021
Figure 8:
Market Forecast To 2030
Figure 9:
Products: Market Size And Growth, By Type
Figure 10:
Products: Average Per Capita Consumption, By Type
Figure 11:
Products: Exports And Growth, By Type
Figure 12:
Products: Export Prices And Growth, By Type
Figure 13:
Production Volume And Growth
Figure 14:
Exports And Growth
Figure 15:
Export Prices And Growth
Figure 16:
Market Size And Growth
Figure 17:
Per Capita Consumption
Figure 18:
Imports And Growth
Figure 19:
Import Prices
Figure 20:
Production, In Physical Terms, 2012–2021
Figure 21:
Production, In Value Terms, 2012–2021
Figure 22:
Imports, In Physical Terms, 2012–2021
Figure 23:
Imports, In Value Terms, 2012–2021
Figure 24:
Imports, In Physical Terms, By Country, 2021
Figure 25:
Imports, In Physical Terms, By Country, 2012–2021
Figure 26:
Imports, In Value Terms, By Country, 2012–2021
Figure 27:
Import Prices, By Country Of Origin, 2012–2021
Figure 28:
Exports, In Physical Terms, 2012–2021
Figure 29:
Exports, In Value Terms, 2012–2021
Figure 30:
Exports, In Physical Terms, By Country, 2021
Figure 31:
Exports, In Physical Terms, By Country, 2012–2021
Figure 32:
Exports, In Value Terms, By Country, 2012–2021
Figure 33:
Export Prices, By Country Of Destination, 2012–2021
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