According to the publisher, with the rapid development of global construction, infrastructure, automotive industries, and industrial equipment, the demand for hinges is steadily increasing, especially in emerging markets. The major global producers of hinges include the United States, Japan, China, Germany, and South Korea, which have strong manufacturing capabilities and can produce high-quality hinge products.
From the perspective of market demand, North America, Europe, the Middle East, and the Asia-Pacific region are the main consumers of hinges worldwide. In the Asia-Pacific region, countries like China, India, and Southeast Asia have been driving the demand for hinges, fueled by continued economic growth, improving consumer purchasing power, and the rapid development of home decoration, commercial facilities, and industrial equipment. As a result, the global hinge market holds significant development potential.
In recent years, the rapid growth of construction, furniture, and manufacturing industries in Vietnam has fueled the development of the country's hinge industry. However, compared to major hinge-producing countries such as China and Germany, Vietnam's production capacity and technology levels remain relatively low. As the Vietnamese economy continues to grow and living standards improve, the demand for high-quality and innovative hinge designs is also on the rise.
According to the publisher, Vietnam's hinge market is highly dependent on imported products, especially high-end and specialty hinges. In 2023, Vietnam’s total imports of hinges amounted to USD 196 million, and in the first half of 2024, imports had already reached nearly USD 111 million, with continued growth expected in the coming years.
The publisher's analysis indicates that the primary sources of hinge imports to Vietnam include China, Hong Kong, Italy, South Korea, and Japan. China, due to its proximity, complete industrial chain, and cost-effective products, is a key supplier of hinges to Vietnam. From 2021 to 2024, China, Hong Kong, and Italy were the top three sources of hinge imports to Vietnam. Key exporters to Vietnam include companies such as LUXSHARE PRECISION LIMITED, SAMSUNG ELECTRONICS H K CO LTD, and SHIN ZU SHING CO LTD. Key importers in Vietnam include WILLTECH VINA CO LTD, LXVT, and GOERTEK TECHNOLOGY VINA COMPANY.
As Vietnam’s domestic markets for construction, infrastructure, home decor, and manufacturing continue to expand, the demand for hinges is expected to grow. Due to limited domestic production capacity, Vietnam will continue to rely on imports of hinges in the coming years. The publisher predicts that the Vietnamese hinge market will continue to grow in size, and the import trend will persist. The publisher recommends that foreign hinge manufacturers research the Vietnamese market and prepare for potential factory investments to capture opportunities in the growing hinge market in Vietnam.
Topics covered:
- The Import and Export of Hinges in Vietnam (2021-2024)
- Total Import Volume and Percentage Change of Hinges in Vietnam (2021-2024)
- Total Import Value and Percentage Change of Hinges in Vietnam (2021-2024)
- Total Import Volume and Percentage Change of Hinges in Vietnam (2024)
- Total Import Value and Percentage Change of Hinges in Vietnam (2024)
- Average Import Price of Hinges in Vietnam (2021-2024)
- Top 10 Sources of Hinges Imports in Vietnam and Their Supply Volume
- Top 10 Suppliers in the Import Market of Hinges in Vietnam and Their Supply Volume
- Top 10 Importers of Hinges in Vietnam and Their Import Volume
- How to Find Distributors and End Users of Hinges in Vietnam
- How Foreign Enterprises Enter the Hinges Market of Vietnam
- Forecast for the Import of Hinges in Vietnam (2024-2033)
Table of Contents
Companies Mentioned
- LUXSHARE PRECISION LIMITED
- SAMSUNG ELECTRONICS H K CO LTD
- SHIN ZU SHING CO LTD
- WILLTECH VINA CO LTD
- LXVT
- GOERTEK TECHNOLOGY VINA COMPANY.
Methodology
Background research defines the range of products and industries, which proposes the key points of the research. Proper classification will help clients understand the industry and products in the report.
Secondhand material research is a necessary way to push the project into fast progress. The analyst always chooses the data source carefully. Most secondhand data they quote is sourced from an authority in a specific industry or public data source from governments, industrial associations, etc. For some new or niche fields, they also "double-check" data sources and logics before they show them to clients.
Primary research is the key to solve questions, which largely influence the research outputs. The analyst may use methods like mathematics, logical reasoning, scenario thinking, to confirm key data and make the data credible.
The data model is an important analysis method. Calculating through data models with different factors weights can guarantee the outputs objective.
The analyst optimizes the following methods and steps in executing research projects and also forms many special information gathering and processing methods.
1. Analyze the life cycle of the industry to understand the development phase and space.
2. Grasp the key indexes evaluating the market to position clients in the market and formulate development plans
3. Economic, political, social and cultural factors
4. Competitors like a mirror that reflects the overall market and also market differences.
5. Inside and outside the industry, upstream and downstream of the industry chain, show inner competitions
6. Proper estimation of the future is good guidance for strategic planning.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 80 |
| Published | December 2024 |
| Forecast Period | 2024 - 2033 |
| Estimated Market Value ( USD | $ 216 Million |
| Forecasted Market Value ( USD | $ 428.2 Million |
| Compound Annual Growth Rate | 7.9% |
| Regions Covered | Vietnam |
| No. of Companies Mentioned | 6 |
