Vietnam: Electrical Fuse Market 2024

Electrical Fuse Market Size in Vietnam

The Vietnamese electrical fuse market expanded markedly to $X in 2021, rising by 7.6% against the previous year. In general, consumption, however, showed a deep reduction. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Electrical Fuse Production in Vietnam

In value terms, electrical fuse production rose notably to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a abrupt slump. The most prominent rate of growth was recorded in 2019 when the production volume increased by 45% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Electrical Fuse Exports

Exports from Vietnam

In 2021, the amount of electrical fuses exported from Vietnam skyrocketed to X tons, with an increase of 50% compared with 2020 figures. In general, exports saw a remarkable increase. The growth pace was the most rapid in 2018 when exports increased by 138%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, electrical fuse exports rose remarkably to $X in 2021. Over the period under review, total exports indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +3.9% 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 +96.1% against 2017 indices. The pace of growth was the most pronounced in 2015 with an increase of 88%. The exports peaked in 2021 and are likely to see gradual growth in years to come.

Exports by Country

Japan (X tons), South Korea (X tons) and Hong Kong SAR (X tons) were the main destinations of electrical fuse exports from Vietnam, together accounting for 70% of total exports. These countries were followed by the United States, the Philippines, Malaysia and China, which together accounted for a further 22%.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of +140.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for electrical fuse exported from Vietnam were Japan ($X), South Korea ($X) and Hong Kong SAR ($X), together comprising 70% of total exports. These countries were followed by the United States, the Philippines, Malaysia and China, which together accounted for a further 23%.

In terms of the main countries of destination, the United States, with a CAGR of +126.0%, saw 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

In 2021, the average electrical fuse export price amounted to $X per ton, which is down by -26.2% against the previous year. Overall, the export price continues to indicate a abrupt slump. The most prominent rate of growth was recorded in 2020 an increase of 31% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major foreign markets. In 2021, amid the top suppliers, the countries with the highest prices were Malaysia ($X per ton) and the United States ($X per ton), while the average price for exports to the Philippines ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (-4.6%), while the prices for the other major destinations experienced a decline.

Electrical Fuse Imports

Imports into Vietnam

Electrical fuse imports into Vietnam soared to X tons in 2021, growing by 17% compared with the year before. Over the period under review, total imports indicated a pronounced expansion from 2012 to 2021: its volume increased at an average annual rate of +3.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -3.2% against 2019 indices. The growth pace was the most rapid in 2016 with an increase of 49% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2019; afterwards, it flattened through to 2021.

In value terms, electrical fuse imports soared to $X in 2021. Overall, imports saw a prominent increase. The growth pace was the most rapid in 2016 when imports increased by 37% against the previous year. Imports peaked in 2021 and are expected to retain growth in the immediate term.

Imports by Country

Japan (X tons), China (X tons) and South Korea (X tons) were the main suppliers of electrical fuse imports to Vietnam, together accounting for 75% of total imports. Thailand, Mexico, the Philippines and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 17%.

From 2012 to 2021, the biggest increases were recorded for the Philippines (with a CAGR of +35.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), China ($X) and South Korea ($X) were the largest electrical fuse suppliers to Vietnam, with a combined 75% share of total imports. Thailand, Mexico, the Philippines and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 17%.

In terms of the main suppliers, the Philippines, with a CAGR of +43.4%, saw the highest rates of growth with regard to 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

The average electrical fuse import price stood at $X per ton in 2021, growing by 4.8% against the previous year. Overall, import price indicated a buoyant increase from 2012 to 2021: its price increased at an average annual rate of +6.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, electrical fuse import price increased by +35.3% against 2017 indices. The most prominent rate of growth was recorded in 2014 an increase of 19%. The import price peaked in 2021 and is likely to see steady growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+9.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :