Republic of Korea: Breathing Appliances Market 2024

Breathing Appliances Market Size in Republic of Korea

The South Korean breathing appliances market rose remarkably to $X in 2022, surging by 13% against the previous year. In general, consumption continues to indicate a strong increase. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Breathing Appliances Production in Republic of Korea

In value terms, breathing appliances production rose significantly to $X in 2022 estimated in export price. Overall, production posted a strong expansion. The pace of growth appeared the most rapid in 2020 with an increase of 47%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Breathing Appliances Exports

Exports from Republic of Korea

In 2022, overseas shipments of breathing appliances and gas masks decreased by -0.9% to X units, falling for the second consecutive year after four years of growth. Overall, exports, however, saw a noticeable increase. The pace of growth was the most pronounced in 2015 with an increase of 87%. The exports peaked at X units in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, breathing appliances exports declined to $X in 2022. Over the period under review, total exports indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +68.8% against 2017 indices. The most prominent rate of growth was recorded in 2015 with an increase of 74% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then reduced in the following year.

Exports by Country

China (X units), Japan (X units) and the Philippines (X units) were the main destinations of breathing appliances exports from South Korea, together accounting for 52% of total exports. The United States, Thailand, Taiwan (Chinese), Vietnam, Hong Kong SAR, India, Malaysia, Mexico, Indonesia and Canada lagged somewhat behind, together accounting for a further 42%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Canada (with a CAGR of +129.3%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X), Thailand ($X) and Japan ($X) were the largest markets for breathing appliances exported from South Korea worldwide, together comprising 37% of total exports. The United States, Indonesia, the Philippines, Hong Kong SAR, Vietnam, Taiwan (Chinese), Malaysia, Mexico, India and Canada lagged somewhat behind, together comprising a further 50%.

In terms of the main countries of destination, Canada, with a CAGR of +86.2%, recorded 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

The average breathing appliances export price stood at $X per unit in 2022, which is down by -7.3% against the previous year. Overall, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 25%. The export price peaked at $X per unit in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Indonesia ($X per unit), while the average price for exports to India ($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 Thailand (+9.9%), while the prices for the other major destinations experienced more modest paces of growth.

Breathing Appliances Imports

Imports into Republic of Korea

In 2022, purchases abroad of breathing appliances and gas masks was finally on the rise to reach X units for the first time since 2018, thus ending a three-year declining trend. In general, imports, however, showed a relatively flat trend pattern. Imports peaked at X units in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, breathing appliances imports reached $X in 2022. Overall, total imports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -19.1% against 2016 indices. The growth pace was the most rapid in 2015 with an increase of 47%. Imports peaked at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The United States (X units), China (X units) and the Philippines (X units) were the main suppliers of breathing appliances imports to South Korea, together comprising 72% of total imports.

From 2012 to 2022, the biggest increases were recorded for the Philippines (with a CAGR of +251.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of breathing appliances and gas masks to South Korea, comprising 43% of total imports. The second position in the ranking was taken by the Philippines ($X), with a 14% share of total imports. It was followed by China, with a 10% share.

From 2012 to 2022, the average annual growth rate of value from the United States stood at +5.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the Philippines (+252.7% per year) and China (+4.4% per year).

Import Prices by Country

The average breathing appliances import price stood at $X per unit in 2022, waning by -11.5% against the previous year. In general, the import price, however, showed a buoyant increase. The most prominent rate of growth was recorded in 2016 an increase of 27% against the previous year. The import price peaked at $X per unit in 2021, and then fell in the following year.

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 the UK ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+11.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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