Speed Changer Price in Vietnam - 2021
Contents:
- Speed Changer Price in Vietnam (CIF) - 2021
- Speed Changer Price in Vietnam (FOB) - 2021
- Speed Changer Imports in Vietnam
- Speed Changer Exports in Vietnam
Speed Changer Price in Vietnam (CIF) - 2021
In December 2021, the average speed changer import price amounted to $21,314 per ton, therefore, remained relatively stable against the previous month. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in February 2021 an increase of 1.9% against the previous month. Over the period under review, average import prices hit record highs at $21,625 per ton in August 2021; however, from September 2021 to December 2021, import prices stood at a somewhat lower figure.
Average prices varied noticeably amongst the major supplying countries. In December 2021, the countries with the highest prices were Finland ($22,343 per ton) and South Korea ($21,896 per ton), while the price for Taiwan (Chinese) ($20,571 per ton) and Japan ($20,935 per ton) were amongst the lowest.
From December 2020 to December 2021, the most notable rate of growth in terms of prices was attained by Thailand (+0.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Speed Changer Price in Vietnam (FOB) - 2021
The average speed changer export price stood at $23,154 per ton in December 2021, leveling off at the previous month. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in July 2021 when the average export price increased by 1% m-o-m. The export price peaked at $23,705 per ton in December 2020; however, from January 2021 to December 2021, the export prices failed to regain momentum.
Average prices varied noticeably for the major export markets. In December 2021, the highest price was recorded for prices to Canada ($25,687 per ton) and Malaysia ($24,511 per ton), while the average price for exports to the Netherlands ($21,970 per ton) and Thailand ($22,164 per ton) were amongst the lowest.
From December 2020 to December 2021, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+0.3%), while the prices for the other major destinations experienced more modest paces of growth.
Speed Changer Imports in Vietnam
In 2022, approx. 12K tons of speed changers, industrial high-speed drives and gear were imported into Vietnam; increasing by 3.7% compared with the previous year's figure. The total import volume increased at an average annual rate of +8.2% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 40%. Imports peaked in 2022 and are likely to see gradual growth in the near future.
In value terms, speed changer imports fell rapidly to $214M in 2022. In general, total imports indicated resilient growth from 2019 to 2022: its value increased at an average annual rate of +6.8% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +24.6% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 49%. As a result, imports attained the peak of $256M, and then declined sharply in the following year.
| Import of Speed Changer in Vietnam (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 62.6 | 81.2 | 144 | 97.8 | 16.0% |
| Japan | 24.9 | 21.5 | 36.4 | 37.8 | 14.9% |
| South Korea | 24.6 | 14.3 | 18.5 | 18.4 | -9.2% |
| Germany | 16.4 | 13.9 | 14.2 | 17.7 | 2.6% |
| Taiwan (Chinese) | 12.6 | 16.6 | 13.8 | 14.1 | 3.8% |
| Italy | 7.0 | 5.6 | 7.1 | 3.5 | -20.6% |
| Thailand | 6.1 | 2.4 | 2.9 | 3.5 | -16.9% |
| Others | 20.9 | 16.0 | 18.6 | 20.7 | -0.3% |
| Total | 175 | 171 | 256 | 214 | 6.9% |
Top Suppliers of Speed Changer to Vietnam in 2022:
- China (7.2K tons)
- Japan (1.8K tons)
- South Korea (0.9K tons)
- Taiwan (Chinese) (0.7K tons)
- Germany (0.6K tons)
- Thailand (0.2K tons)
- Italy (0.1K tons)
Speed Changer Exports in Vietnam
In 2022, shipments abroad of speed changers, industrial high-speed drives and gear decreased by -7.7% to 4.8K tons for the first time since 2018, thus ending a three-year rising trend. The total export volume increased at an average annual rate of +8.7% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 36%. As a result, the exports attained the peak of 5.2K tons, and then shrank in the following year.
In value terms, speed changer exports dropped to $94M in 2022. The total export value increased at an average annual rate of +6.9% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 31%. As a result, the exports attained the peak of $106M, and then reduced in the following year.
| Export of Speed Changer in Vietnam (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 38.4 | 37.8 | 44.8 | 37.2 | -1.1% |
| United States | 6.6 | 8.8 | 17.0 | 13.1 | 25.7% |
| China | 6.3 | 8.6 | 12.1 | 12.9 | 27.0% |
| Thailand | 4.2 | 4.0 | 4.1 | 3.3 | -7.7% |
| Indonesia | 3.2 | 2.7 | 3.8 | 3.1 | -1.1% |
| India | 2.2 | 2.5 | 3.7 | 3.0 | 10.9% |
| Mexico | 0.6 | 1.0 | 1.2 | 2.4 | 58.7% |
| Brazil | 1.2 | 0.5 | 0.8 | 2.2 | 22.4% |
| South Korea | 2.2 | 2.6 | 2.4 | 2.0 | -3.1% |
| Pakistan | 4.0 | 1.5 | 1.4 | 1.9 | -22.0% |
| Others | 7.9 | 11.5 | 15.1 | 12.8 | 17.5% |
| Total | 76.9 | 81.5 | 106 | 94.0 | 6.9% |
Top Export Markets for Speed Changer from Vietnam in 2022:
- Japan (2486.2 tons)
- China (673.6 tons)
- United States (525.9 tons)
- Mexico (201.6 tons)
- Thailand (118.6 tons)
- Brazil (86.5 tons)
- India (84.5 tons)
- Indonesia (84.0 tons)
- Pakistan (83.8 tons)
- South Korea (58.5 tons)
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