Vietnam: Electric Heating Resistor Market 2024

Electric Heating Resistor Market Size in Vietnam

The Vietnamese electric heating resistor market surged to $X in 2023, increasing by X% against the previous year. In general, consumption showed prominent growth. Electric heating resistor consumption peaked at $X in 2019; however, from 2020 to 2023, consumption remained at a lower figure.

Electric Heating Resistor Production in Vietnam

In value terms, electric heating resistor production expanded rapidly to $X in 2023 estimated in export price. Over the period under review, production showed a remarkable increase. The growth pace was the most rapid in 2016 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2021; however, from 2022 to 2023, production stood at a somewhat lower figure.

Electric Heating Resistor Exports

Exports from Vietnam

After four years of growth, overseas shipments of electric heating resistors decreased by X% to X units in 2023. In general, exports, however, posted a strong increase. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2022, and then reduced slightly in the following year.

In value terms, electric heating resistor exports declined to $X in 2023. Overall, exports, however, recorded resilient growth. The pace of growth was the most pronounced in 2013 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2022, and then reduced in the following year.

Exports by Country

The United States (X units) was the main destination for electric heating resistor exports from Vietnam, accounting for a X% share of total exports. Moreover, electric heating resistor exports to the United States exceeded the volume sent to the second major destination, Japan (X units), twofold. China (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2023, the average annual growth rate of volume to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (X% per year) and China (X% per year).

In value terms, the largest markets for electric heating resistor exported from Vietnam were Japan ($X), the United States ($X) and South Korea ($X), with a combined X% share of total exports.

In terms of the main countries of destination, South Korea, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average electric heating resistor export price stood at $X per unit in 2023, which is down by X% against the previous year. In general, the export price recorded a noticeable curtailment. The growth pace was the most rapid in 2015 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2018; however, from 2019 to 2023, the export prices failed to regain momentum.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (X%), while the prices for the other major destinations experienced more modest paces of growth.

Electric Heating Resistor Imports

Imports into Vietnam

Electric heating resistor imports into Vietnam surged to X units in 2023, increasing by X% compared with 2022. In general, imports saw a strong expansion. The pace of growth was the most pronounced in 2015 with an increase of X%. As a result, imports attained the peak of X units. From 2016 to 2023, the growth of imports failed to regain momentum.

In value terms, electric heating resistor imports declined to $X in 2023. Over the period under review, imports recorded a strong increase. The pace of growth was the most pronounced in 2017 with an increase of X%. Imports peaked at $X in 2022, and then fell in the following year.

Imports by Country

In 2023, Japan (X units) constituted the largest electric heating resistor supplier to Vietnam, with a X% share of total imports. Moreover, electric heating resistor imports from Japan exceeded the figures recorded by the second-largest supplier, China (X units), ninefold. The United States (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume from Japan stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and the United States (X% per year).

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

From 2012 to 2023, the average annual growth rate of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and Thailand (X% per year).

Import Prices by Country

The average electric heating resistor import price stood at $X per unit in 2023, waning by X% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the average import price increased by X% against the previous year. The import price peaked at $X per unit in 2014; however, from 2015 to 2023, import prices stood at a somewhat lower figure.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform