According to CRI’s analysis, Vietnam’s textile and garment industry has developed rapidly in recent years, and exports have also continued to grow.

The growth rate of Vietnam’s GDP in 2020 was about 2.9%. Considering the spread of COVID-19 in 2020, the annual GDP growth rate of 2.9% is already a good figure in the world. Vietnam’s economy has been increasing rapidly for many years, but wages of the manufacturing are still at a low level, which were less than 50% in China and far below that of the developed countries in 2020.

According to CRI analysis, Vietnam has about 7,000 textile and garment manufacturing enterprises with over three million employees and providing job opportunities for over one million workers in relevant industries by the end of 2020.

According to CRI’s analysis, Vietnam’s textile and garment industry has developed rapidly in recent years, and exports have also continued to grow. The export value of Vietnam’s textile and garment industry rose from 27.2 billion U.S. dollars in 2015 to nearly 40 billion U.S. dollars in 2019. Vietnam has become the world’s second largest exporter of textiles and garments after China.

In 2020, due to the impact of the COVID-19 epidemic, Vietnam’s textile and garment industry has been affected to a certain extent. In 2020, the export value of Vietnam’s textile and garment industry has declined, according to Viet NamExport.

However, as the COVID-19 epidemic is well under control in Vietnam, it is expected that Vietnam’s textile and garment industry will gradually recover in 2021, and the export value will gradually rise in 2021 to 2025.

Due to the COVID-19 epidemic, the Vietnamese government will maintain the minimum wage in 2021 at the level of 2020. The minimum wage in different regions is 3.0-4.42 million VND (approximately US$133-192) per month, which is less than China’s Half of it is far below the level of developed countries.

CRI predicts that from 2021 to 2025, foreign investors will establish more textile and garment enterprises in Vietnam. On the one hand, the export value of Vietnam’s textile and garment industry will continue to grow. At the same time, as the income of Vietnamese residents rises, the textile and garment markets in Vietnam and ASEAN the market size will continue to rise.

Considering that the quality of human resources in Vietnam are universally higher than most countries in south-east Asia, the productivity is relatively higher. With regards to manufacturing enterprises of garment raw materials, product enterprises and brand enterprises, Vietnam is a rather good investment destination.

Key Topics Covered in Vietnam Textile and Garment Industry Report 2021-2025

-The impact of COVID-19 on Vietnam Textile and Garment Industry
-Relevant Concepts of Textile and Garment Manufacturing Industry
-Analysis on Textile and Garment Manufacturing Industry in Vietnam
-Competition Status of Textile and Garment Manufacturing Industry in Vietnam
-Analysis on Top 40 Textile and Garment Manufacturers in Vietnam
-Analysis on Cost and Price in Textile and Garment Manufacturing Industry in Vietnam, 2015-2021
-Forecast on Development of Garment Industry in Vietnam, 2021-2025

Related reports:

Research Report on Footwear Market in Vietnam, 2016-2030

Vietnam Garment Manufacturing Industry Overview, 2011-2020

High-Performance Textile Market – A Global and Regional Analysis: Focus on End-Use Application, Fiber Type, Technology, and Region – Analysis and Forecast, 2022-2031

The post Vietnam Textile and Garment Industry Report 2021-2025 first appeared on CRI Report.

Vietnam Automobile Industry

Topics covered:
-The impact of COVID-19 on the Vietnam Automobile industry
-Supply and demand of Vietnam automobile industry
-Major auto manufacturers in Vietnam
-Import and Export of automobiles in Vietnam
-Import and Export of automobiles in Vietnam by Section
-Competition status of Vietnam automobile market
-Drivers and opportunities of Vietnam automobile market
-Prospect of Vietnam auto industry

Overview

The growth rate of Vietnam’s GDP in 2020 was about 2.9%. Considering the spread of COVID-19 in 2020, the annual GDP growth rate of 2.9% is already a good figure in the world. Vietnam’s economy has been increasing rapidly for many years, but wages of the manufacturing are still at a low level, which were less than 50% in China and far below that of the developed countries in 2020.

Vietnam auto industry starts late, and the development base is weak. After the reform in 1986, Vietnam auto industry started. In 1991, Vietnam government introduce foreign funds to develop automobile manufacture and assemble industry. After 30-year development, Honda, Toyota, Ford, GM, etc. entered Vietnam through sole proprietorship or joint-investment.

They established automobile assemble enterprises in Vietnam. Meanwhile, Vietnam established domestic auto enterprises. According to CRI’s analysis, the production capacity of complete vehicles in Vietnam is estimated to over 250,000 per year by the end of 2020.

There are hundreds of auto part manufacture enterprises, most of which are SMEs featured with low production capacity and low technology. Major products are simple parts, e.g. seats, auto storage batteries.

According to CRI’s analysis, the annual sales of automobiles in Vietnam increased rapidly from 2015 to 2019, from 209,000 in 2015 to 306,000 in 2019, which is one of the fastest growing markets in the world.

In 2020, due to the impact of COVID-19, Vietnamese car sales have declined. Since Vietnam’s domestic automobile production is low and cannot meet the domestic market demand, it needs to import a certain number of automobiles every year. From 2015 to 2019, Vietnam’s annual automobile imports also show an overall upward trend.

However, due to the impact of the epidemic in 2020, Vietnamese automobiles the decline in sales has caused the same decline in car imports.
According to CRI’s forecast, as the COVID-19 epidemic has been well controlled in Vietnam, it is expected that the Vietnamese auto market will gradually recover from 2021.

Considering that the per capita car ownership in Vietnam is very low, Vietnam’s auto production and sales will be 2021-2025. And imports have a lot of room for growth.

According to CRI’s forecast, for auto parts manufacturers and vehicle manufacturers, the Vietnamese market has a lot of room for growth from 2021 to 2030.

With the economic development, the growth of income per capita and infrastructure construction, Vietnam market demands more for passenger vehicles and commercial vehicles. Vietnam auto manufacture enjoys low labor cost, land and energy cost but also faces imperfect auto industry chain.

Major auto manufacturers and companies in Vietnam profiled in this report include Honda Vietnam, Toyota Motor Vietnam, Ford Vietnam, GM Vietnam, Hino Motors Vietnam, Isuzu Vietnam, Mekong Auto Corporation, Mercedes-Benz Vietnam, Vietnam Motors Corp. (VMC) and Vina Star Motors Corp.

Related reports: Research Report on Vietnam Steel Industry 2021-2025

The post Research Report on Vietnam Automobile Industry 2021-2025 first appeared on CRI Report.

Topics covered:
-The impact of COVID-19 on Vietnam’s cement industry
-Development Environment of Vietnam Cement Industry
-Analysis on Market Status of Vietnam Cement Industry
-Analysis on Import and Export of Cement in Vietnam
-Major Cement Manufacturers in Vietnam
-Prospect of Cement Industry in Vietnam 2021-2025

https://www.cri-report.com/product/research-report-on-vietnam-steel-industry-2021-2025/

The post Research Report on Vietnam Cement Industry 2021-2025 first appeared on CRI Report.

In the global and Chinese markets, electric car manufacturers are divided into two categories. One is traditional car manufacturers such as Toyota, local, Volkswagen, GM, Renault, Ford, BMW, BYD, etc. The other category is emerging companies, such as Tesla, NIO, XPEV, etc. In 2020, Tesla occupied the number one position in the global electric vehicle market with approximately 490,000 sales. Other leading companies include Volkswagen, General Motors, Renault, BYD and so on. According to CRI’s analysis, in 2020, the competitive landscape of China’s new energy vehicles will also change. Tesla, NIO, and XPEV have performed well in the Chinese auto market and the global capital market, while many traditional car companies have not performed well. For example, NIO’s electric vehicles are contracted by JAC and sold only by JAC. However, as of the end of January 2021, the market value of JAC, which has a history of more than 20 years, is less than US$3 billion, while the market value of NIO, which has a history of only 6 years, has reached approximately US$90 billion.
According to CRI analysis, the rapid global growth of the electric vehicle market has benefited from many factors such as government subsidies, fashionable designs, and the popularity of environmental protection concepts.
According to CRI analysis, although the Chinese government has reduced the number of subsidies for consumers to purchase electric vehicles since 2019, for consumers, buying electric vehicles is still more favorable than fuel vehicles. For example, the application fee for a petrol vehicle license in Shanghai, China’s largest city, is more than 100,000 yuan (approximately US$15,000), while the purchase of an electric vehicle can get a license for free. Therefore, more and more Chinese consumers are buying electric vehicles. On December 30, 2019, the completion of Tesla Giga Shanghai in Shanghai, China further marked that China’s electric vehicle market has become a hot spot for competition between global traditional auto companies and emerging auto companies.
According to CRI analysis, there are certain differences between the electric vehicle industry chain and fuel vehicles. On the one hand, there are differences in auto parts, and the electric vehicle industry chain includes power lithium batteries, charging stations and other industrial chain links that are not needed by the traditional auto industry. For traditional car manufacturers, parts manufacturers, and car dealers, if they want to enter the electric car market, they need to conduct comprehensive market research and product design.
CRI predicts that from 2021 to 2025, global sales of fuel vehicles will continue to show a downward trend, while global annual sales of electric vehicles will maintain a CAGR of at least 20%. By 2025, global annual sales of electric vehicles will reach more than 10 million.

Topics covered:
-The impact of COVID-19 on the Global Electric Vehicle Industry
-Global and China’s electric vehicle industry development environment
-Global and Chinese electric vehicle production and sales 2012-2020
-Analysis of global and Chinese electric vehicle industry chain
-Major companies in the global and Chinese electric vehicle market
-Traditional auto companies, such as Toyota, Volkswagen Group, General Motors, BYD, etc.
-Emerging electric vehicle companies, such as Tesla, NIO, XPEV, etc.
-2021-2025 global electric vehicle market driving force and market opportunities
-Global Electric Vehicle Market Outlook 2021-2025

The post Research Report on Electric Vehicle Industry in Globe and China, 2021-2025 first appeared on CRI Report.

Lithium-ion batteries can be divided into consumption, power, and energy storage according to application fields. Consumer applications are in consumer products such as mobile phones, notebook computers, and digital cameras. Power lithium batteries are mainly used in electric vehicles, electric bicycles and other power tools, and energy storage is mainly used in energy storage power stations.

According to CRI analysis, the global electric vehicle market has grown rapidly in recent years. In 2012, the global sales of electric vehicles were only about 120,000, and by 2019 it had reached 2.21 million. In 2020, despite the global outbreak of COVID-19, global car sales dropped by more than 10%. However, global electric vehicle sales in 2020 will still exceed 3.2 million, an increase of more than 40% year-on-year.

According to CRI analysis, in recent years, China has been the world’s largest producer of lithium batteries and the largest exporter. with the development of global and China’s electric vehicle industry, China’s lithium-ion battery industry is also developing rapidly. Lithium-ion batteries produced in China are not only sold domestically, but also exported to the international market in large quantities every year.

In 2020, China’s lithium-ion battery export value is approximately US$15.94 billion, a year-on-year increase of 22.3%. The main export destinations of China’s lithium-ion batteries in 2020 are Hong Kong (re-export trade), the United States, Germany, South Korea, etc.

In 2020, China’s lithium-ion battery output was 18.845 billion, a year-on-year increase of 14.4%. From 2012 to 2019, the rapid development of China’s electric vehicle industry has promoted the development of lithium-ion power batteries. In the first half of 2020, China’s electric vehicle industry was greatly affected by the COVID-19 epidemic.

Although it has recovered in the second half of 2020, the overall growth rate in 2020 will still be lower than the global average. There has also been a decline. In 2020, China’s lithium power battery production totaled 83.4GWh, a year-on-year decrease of 2.3%.

Lithium batteries can be divided into consumption, power, and energy storage according to application fields. Consumer applications are in consumer products such as mobile phones, notebook computers, and digital cameras. Power lithium batteries are mainly used in electric vehicles, electric bicycles and other power tools, and energy storage is mainly used in energy storage power stations.

According to CRI analysis, with the development of global and China’s electric vehicle industry, China’s lithium-ion battery industry is also developing rapidly.

Topics covered:
-The impact of COVID-19 on the Global Li-ion battery Industry
-Global and China’s Li-ion battery industry development environment
-Global and Chinese Li-ion battery production and sales 2012-2020
-Analysis of global and Chinese Li-ion battery industry chain
-Imports and Exports of Li-ion Battery in China
-Major companies in the global and Chinese Li-ion battery market
-Top Global and Chinese Li-ion Battery Manufacturers
-2021-2025 global Li-ion battery market driving force and market opportunities
-Global Li-ion battery Market Outlook 2021-2025

Global Electric Vehicle (EV) Battery Housing Market Anticipated to Reach $4,478.0 Million by 2025

Electric Vehicle (EV) Battery Housing Market – A Global and Regional Analysis: Focus on Battery Housing Materials, Component, Cell Format, and Application, Supply Chain Analysis, Country Analysis, and Impact of COVID-19 Period – Analysis and Forecast, 2019-2025

Refrigeration Components Market for Battery Thermal Management System (BTMS) and Charging System for Electric Vehicles – A Global and Regional Analysis: Focus on Applications (Battery Thermal Management System and Charging System), Component Types (Expansion Valve, Controller, Compressor, Filter Drier, Evaporator, Condenser, and Others), Propulsion Type (BEVs, HEVs, and PHEVs), and Region – Analysis and Forecast, 2020-2025

The post Research Report on Global and China’s Li-ion Power Battery Industry, 2021-2025 first appeared on CRI Report.

Vietnam steel industry includes more than 100 companies, according to CRI analysis, of which the larger ones include Hoa Phat Steel, Hoa Sen Steel, Vietnam Steel Corporation, SMC Steel Company Limited, VSC-POSCO STEEL CORPORATION (VPS), Formosa Ha Tinh Steel Corporation (FHS) and so on.

The growth rate of Vietnam’s GDP in 2020 was about 2.9%. Considering the spread of COVID-19 in 2020, the annual GDP growth rate of 2.9% is already a good figure in the world. Vietnam’s economy has been increasing rapidly for many years, but wages of the manufacturing are still at a low level, which were less than 50% in China and far below that of the developed countries in 2020.

According to CRI analysis, as Vietnam’s economy develops and the living standards of residents rise, the demand for steel in the industries such as construction, automobiles and home appliances is also going up. The rapid development of steel demand has attracted many steel enterprises to build new steel capacity in Vietnam.

As the COVID-19 epidemic in Vietnam has been effectively controlled, the steel industry in Vietnam will not be greatly affected in 2020. Overall, Vietnam’s steel industry is still growing, and the homemade steel cannot meet the needs of the domestic market.

According to CRI analysis, in 2020, the production volume of crude steel in Vietnam reached 30.67 million tons, representing a CAGR of 41.3% from 2013 to 2020.

Based on CRI’s analysis, seeing the huge potential of the steel market in Vietnam and even Southeast Asia, many enterprises have invested in Vietnam’s steel industry in recent years. The largest investment case is Formosa Ha Tinh Steel Corporation (FHS), which is a joint venture by Formosa Plastic Group, China Steel Corporation and Japan’s JFE Holdings, with a first-phase investment of more than USD 10 billion.

Due to the rapid increase in production capacity of the steel industry in recent years, the supply of some types of steel in Vietnam has exceeded the demand, including concrete iron or steel for construction, cold-rolled steel coil products, etc. In order to reduce large quantities of imports such as hot-rolled steel coils and electromagnetic steel sheets, the Vietnam government is actively attracting foreign investors to establish positions in the country.

At present, the Vietnamese government has not formulated nationwide policies for foreign investment in the steel industry. However, steel companies have been set up in many industrial parks in Vietnam, which are granted with preferential policies in taxation and other aspects.

In addition, as Vietnam’s manufacturing and construction industries develop rapidly, the demand for steel will continue to increase. It is estimated that, during 2021-2025, Vietnam’s roads, airports and other infrastructure, housing construction, automobile, home appliances and other industries will all maintain a high growth rate.

On the whole, most of the domestic steel manufacturers are extremely low in production capacity (no more than 1 million tons a year), with the outdated equipment. Foreign-funded enterprises have seen great market prospects in investing in the steel industry of Vietnam, especially to establish one-stop businesses from the production of crude steel to the processing of various kinds of steel.

For one thing, these steel enterprises can market in Vietnam. For another, they can export products to the Southeast Asian market with a total population of nearly 700 million, and even to the Asia-Pacific market with a population of more than 2 billion.

CRI considers that the Vietnam steel market will become one of the fastest growing markets in the world from 2021 to 2025. Meanwhile, the CAGR of production volume of crude steel is projected to exceed 15%. By 2024, Vietnam will become a net exporter of steel.

Topics covered in Research Report on Vietnam Steel Industry 2021-2025:

-The impact of COVID-19 on Vietnam’s Steel Industry
-Development Environment of Vietnam Steel Industry
-Supply and Demand of Vietnam Steel Industry, 2013-2020
-Analysis on Import and Export of Steel in Vietnam, 2013-2020
-Major Steel Manufacturers in Vietnam, 2019-2021
-Advantages and disadvantages of the development of Vietnam’s cement industry
-Prospect of Vietnam Steel Market, 2021-2025

Related reports:

Vietnam Steel Industry Report 2020-2024

Research Report on Vietnam Steel Industry, 2018-2022

The post Research Report on Vietnam Steel Industry 2021-2025 first appeared on CRI Report.