Republic of Korea: Market for Air Conditioning Machines For Motor Vehicles 2025

Market Size for Air Conditioning Machines For Motor Vehicles in Republic of Korea

The South Korean market for air conditioning machines for motor vehicles stood at $X in 2022, approximately mirroring the previous year. In general, consumption, however, enjoyed strong growth. Motor vehicle air conditioning machine consumption peaked at $X in 2020; afterwards, it flattened through to 2022.

Production of Air Conditioning Machines For Motor Vehicles in Republic of Korea

In value terms, motor vehicle air conditioning machine production reached $X in 2022 estimated in export price. In general, production, however, saw a buoyant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 35% against the previous year. Motor vehicle air conditioning machine production peaked at $X in 2020; afterwards, it flattened through to 2022.

Exports of Air Conditioning Machines For Motor Vehicles

Exports from Republic of Korea

Motor vehicle air conditioning machine exports from South Korea plummeted to X units in 2022, declining by -34% compared with the previous year. In general, exports showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of 221%. The exports peaked at X units in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, motor vehicle air conditioning machine exports fell dramatically to $X in 2022. Over the period under review, exports showed a abrupt shrinkage. The pace of growth appeared the most rapid in 2021 when exports increased by 229%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Turkey (X units) was the main destination for motor vehicle air conditioning machine exports from South Korea, accounting for a 36% share of total exports. Moreover, motor vehicle air conditioning machine exports to Turkey exceeded the volume sent to the second major destination, Germany (X units), threefold. Uruguay (X units) ranked third in terms of total exports with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Turkey amounted to +84.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+22.5% per year) and Uruguay (+316.4% per year).

In value terms, the largest markets for motor vehicle air conditioning machine exported from South Korea were Turkey ($X), Uruguay ($X) and Germany ($X), with a combined 48% share of total exports.

Uruguay, with a CAGR of +267.4%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average export price for air conditioning machines for motor vehicles amounted to $X per unit, stabilizing at the previous year. Over the period under review, the export price recorded a noticeable downturn. The most prominent rate of growth was recorded in 2020 an increase of 5%. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was India ($X per unit), while the average price for exports to Turkey ($X 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 Ecuador (+4.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Air Conditioning Machines For Motor Vehicles

Imports into Republic of Korea

After two years of growth, overseas purchases of air conditioning machines for motor vehicles decreased by -31.8% to X units in 2022. Overall, imports, however, continue to indicate a significant expansion. The growth pace was the most rapid in 2017 with an increase of 546% against the previous year. Over the period under review, imports hit record highs at X units in 2021, and then shrank rapidly in the following year.

In value terms, motor vehicle air conditioning machine imports fell dramatically to $X in 2022. In general, imports, however, posted a significant increase. The pace of growth appeared the most rapid in 2017 with an increase of 569%. Over the period under review, imports attained the maximum at $X in 2021, and then fell remarkably in the following year.

Imports by Country

In 2022, China (X units) constituted the largest supplier of motor vehicle air conditioning machine to South Korea, with a 86% share of total imports. Moreover, motor vehicle air conditioning machine imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X units), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +23.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+99.1% per year) and France (+3.6% per year).

In value terms, China ($X) constituted the largest supplier of air conditioning machines for motor vehicles to South Korea, comprising 82% of total imports. The second position in the ranking was held by France ($X), with a 4% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China stood at +29.1%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+8.1% per year) and Turkey (+91.5% per year).

Import Prices by Country

In 2022, the average import price for air conditioning machines for motor vehicles amounted to $X per unit, remaining stable against the previous year. Overall, import price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, motor vehicle air conditioning machine import price decreased by -6.9% against 2019 indices. The growth pace was the most rapid in 2014 an increase of 33%. As a result, import price reached the peak level of $X per unit. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($X per unit), while the price for Turkey ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+10.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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