Report Update: May 1, 2024

Vietnam - Grinding And Sharpening Metal Finishing Machines - Market Analysis, Forecast, Size, Trends and Insights

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Price for Grinding and Sharpening Machine in Vietnam - 2022

Price for Grinding and Sharpening Machine in Vietnam (CIF) - 2022

In December 2022, the average grinding and sharpening machine import price amounted to $2,274 per unit, reducing by -51.2% against the previous month. In general, the import price continues to indicate a sharp decrease. The pace of growth appeared the most rapid in August 2022 when the average import price increased by 112% m-o-m. The import price peaked at $54,886 per unit in December 2021; however, from January 2022 to December 2022, import prices failed to regain momentum.

Prices varied noticeably by the country of origin: the country with the highest price was the United States ($4,237 per unit), while the price for Taiwan (Chinese) ($667 per unit) was amongst the lowest.

From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by the United States (+24.0%), while the prices for the other major suppliers experienced a decline.

Price for Grinding and Sharpening Machine in Vietnam (FOB) - 2022

In December 2022, the average grinding and sharpening machine export price amounted to $591 per unit, shrinking by -60.5% against the previous month. In general, the export price faced a abrupt descent. The most prominent rate of growth was recorded in April 2022 when the average export price increased by 1,629% against the previous month. As a result, the export price reached the peak level of $27,021 per unit. From May 2022 to December 2022, the the average export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for the United States.

From December 2021 to December 2022, the rate of growth in terms of prices for the United States amounted to -2.1% per month.

Imports of Grinding and Sharpening Machine in Vietnam

In 2022, grinding and sharpening machine imports into Vietnam fell remarkably to 4K units, declining by -16.8% compared with the year before. Overall, imports recorded a noticeable shrinkage. The growth pace was the most rapid in 2021 with an increase of 55% against the previous year. As a result, imports attained the peak of 4.8K units, and then shrank notably in the following year.

In value terms, grinding and sharpening machine imports amounted to $46M in 2022. Over the period under review, imports saw a drastic downturn. Over the period under review, imports hit record highs at $59M in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Import of Grinding and Sharpening Machine in Vietnam (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	12.1	8.6	11.0	9.8	-6.8%
Japan	15.3	12.2	10.2	9.0	-16.2%
Taiwan (Chinese)	8.7	5.8	6.1	7.2	-6.1%
South Korea	8.0	6.5	6.1	5.9	-9.7%
Germany	5.0	4.1	2.9	3.2	-13.8%
India	0.8	0.5	0.4	0.4	-20.6%
Others	9.0	8.2	8.6	10.2	4.3%
Total	59.0	45.9	45.3	45.6	-8.2%

Top Suppliers of Grinding and Sharpening Machine to Vietnam in 2022:

China (2714.0 units)
Taiwan (Chinese) (447.0 units)
Japan (170.0 units)
South Korea (155.0 units)
India (87.0 units)
Germany (37.0 units)

Exports of Grinding and Sharpening Machine in Vietnam

In 2022, exports of grinding and sharpening metal finishing machines from Vietnam rose modestly to 133 units, picking up by 3.9% against 2021. The total export volume increased at an average annual rate of +2.6% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when exports increased by 20%. As a result, the exports reached the peak of 148 units. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, grinding and sharpening machine exports contracted to $976K in 2022. Overall, exports, however, saw a pronounced decrease. The pace of growth was the most pronounced in 2021 with an increase of 36%. As a result, the exports attained the peak of $1.1M, and then shrank in the following year.

Export of Grinding and Sharpening Machine in Vietnam (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
South Korea	413	356	449	394	-1.6%
United States	41.0	231	231	188	66.1%
Myanmar	115	28.9	0.1	146	8.3%
Thailand	235	82.0	124	113	-21.7%
Japan	88.0	27.4	198	52.2	-16.0%
Taiwan (Chinese)	27.0	21.0	73.3	38.6	12.7%
Singapore	25.0	21.9	13.8	15.3	-15.1%
Canada	1.5	1.8	7.9	7.4	70.2%
India	57.3	1.3	0.5	2.3	-65.8%
Cambodia	43.7	1.2	4.7	1.6	-66.8%
Lao People's Democratic Republic	6.1	1.5	3.0	1.1	-43.5%
Indonesia	9.6	0.5	0.4	0.8	-56.3%
Australia	2.3	0.1	0.1	0.2	-55.7%
Others	31.7	53.4	17.2	15.1	-21.9%
Total	1,097	828	1,124	976	-3.8%

Top Export Markets for Grinding and Sharpening Machine from Vietnam in 2022:

Japan (37.0 units)
United States (26.0 units)
Taiwan (Chinese) (10.0 units)
Myanmar (9.0 units)
South Korea (7.0 units)
India (4.0 units)
Thailand (4.0 units)
Lao People's Democratic Republic (3.0 units)
Singapore (3.0 units)
Indonesia (3.0 units)
Canada (2.0 units)
Australia (2.0 units)
Cambodia (2.0 units)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the market for grinding and sharpening machine 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 28412305 - Numerically controlled flat-surface grinding machines for working metal, in which the positioning in any one axis can be set up to a minimum accuracy of 0,01 mm
Prodcom 28412315 - Numerically controlled cylindrical surface grinding machines for working metal, in which the positioning in any one axis can be set up to a minimum accuracy of 0,01 mm
Prodcom 28412325 - Other numerically controlled grinding machines in which the positioning in any one axis can be set up to accuracy > 0,01 mm
Prodcom 28412335 - Non-numerically controlled flat-surface grinding machines for working metal, in which the positioning in any one axis can be set up to a minimum accuracy of 0,01 mm
Prodcom 28412345 - Non-numerically controlled cylindrical surface grinding machines for working metal, in which the positioning in any one axis can be set up to a minimum accuracy of 0,01 mm
Prodcom 28412355 - Grinding machines for working metal, any one axis can be set to an accuracy . 0,01 mm excluding flat-surface grinding machines, cylindrical surface grinding machines
Prodcom 28412365 - Numerically controlled sharpening (tool or cutter grinding) m achines for working metal
Prodcom 28412375 - Non-numerically controlled sharpening (tool or cutter grinding) machines for working metal

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