Report Update: May 1, 2024

Vietnam - Boards, Panels, Consoles, Desks And Cabinets - Market Analysis, Forecast, Size, Trends And Insights

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Price for Electric Board, Desk and Panel in Vietnam - 2021

Price for Electric Board, Desk and Panel in Vietnam (FOB) - 2022

In 2022, the average export price for electrical boards, panels, consoles, desks and cabinets amounted to $3.1 per unit, reducing by -3% against the previous year. Over the period under review, the export price continues to indicate a slight curtailment. The most prominent rate of growth was recorded in 2019 when the average export price increased by 24%. As a result, the export price reached the peak level of $3.9 per unit. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Chile ($5.5 per unit), while the average price for exports to Myanmar ($0.7 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 Chile (+71.8%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Electric Board, Desk and Panel in Vietnam (CIF) - 2022

The average import price for electrical boards, panels, consoles, desks and cabinets stood at $3.5 per unit in 2022, increasing by 5.3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.1%. The pace of growth appeared the most rapid in 2020 when the average import price increased by 11% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Japan ($3.5 per unit) and Taiwan (Chinese) ($3.5 per unit), while the price for China ($3.5 per unit) and South Korea ($3.5 per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+4.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Exports of Electric Board, Desk and Panel in Vietnam

In 2022, after three years of growth, there was significant decline in shipments abroad of electrical boards, panels, consoles, desks and cabinets, when their volume decreased by -71.9% to 16M units. Overall, exports recorded a sharp slump. The most prominent rate of growth was recorded in 2020 when exports increased by 34% against the previous year. The exports peaked at 56M units in 2021, and then shrank sharply in the following year.

In value terms, electric board, desk and panel exports shrank remarkably to $49M in 2022. Over the period under review, exports faced a dramatic descent. The most prominent rate of growth was recorded in 2020 when exports increased by 27% against the previous year. The exports peaked at $179M in 2021, and then declined markedly in the following year.

Export of Electric Board, Desk and Panel in Vietnam (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	12.4	33.0	34.6	21.2	19.6%
Japan	8.7	9.0	10.0	9.8	4.0%
South Korea	30.1	32.8	20.0	6.8	-39.1%
Chile	N/A	N/A	1.5	3.2	113.3%
Malaysia	1.5	1.4	1.7	1.6	2.2%
Cambodia	0.2	0.1	0.5	1.0	71.0%
Italy	N/A	N/A	0.2	0.8	300.0%
China	1.0	0.5	8.4	0.7	-11.2%
Myanmar	N/A	0.1	N/A	0.2	41.4%
United Kingdom	5.9	58.3	75.0	0.2	-67.6%
Poland	65.6	28.3	5.4	N/A	-71.3%
Others	10.7	9.6	21.5	3.2	-33.1%
Total	136	173	179	48.8	-28.9%

Top Export Markets for Electric Board, Desk and Panel from Vietnam in 2022:

United States (7.0M units)
Japan (3.2M units)
South Korea (2.3M units)
Chile (0.6M units)
Malaysia (0.5M units)
Italy (0.3M units)
Cambodia (0.3M units)
Myanmar (0.2M units)
China (0.2M units)
United Kingdom (0.1M units)

Imports of Electric Board, Desk and Panel in Vietnam

Electric board, desk and panel imports into Vietnam rose sharply to 17M units in 2022, with an increase of 10% against 2021. Overall, imports showed a remarkable increase. The most prominent rate of growth was recorded in 2021 with an increase of 90% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, electric board, desk and panel imports surged to $60M in 2022. In general, imports saw a significant expansion. The pace of growth was the most pronounced in 2021 with an increase of 103% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Import of Electric Board, Desk and Panel in Vietnam (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	8.7	14.2	45.7	52.9	82.5%
South Korea	17.6	6.3	1.3	1.4	-57.0%
Japan	1.2	1.2	1.3	1.2	0.0%
Germany	0.7	0.7	1.0	1.0	12.6%
Others	4.1	3.1	2.4	3.5	-5.1%
Total	32.2	25.5	51.6	59.9	23.0%

Top Suppliers of Electric Board, Desk and Panel to Vietnam in 2022:

China (15.1M units)
South Korea (0.4M units)
Japan (0.3M units)
Germany (0.3M units)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the market for electric board, desk and panel 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 27124030 - Boards, panels, consoles, desks, cabinets and other bases for apparatus for electric control or the distribution of electricity (excluding those equipped with their apparatus)

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:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
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. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023