Republic of Korea: Ignition Coil Market 2025

Ignition Coil Market Size in Republic of Korea

The South Korean ignition coil market expanded rapidly to $X in 2022, with an increase of X% against the previous year. Overall, consumption, however, showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Ignition Coil Production in Republic of Korea

In value terms, ignition coil production shrank sharply to $X in 2022 estimated in export price. In general, production faced a abrupt contraction. The pace of growth appeared the most rapid in 2021 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Ignition Coil Exports

Exports from Republic of Korea

In 2022, the amount of distributors and ignition coils exported from South Korea shrank significantly to X units, waning by X% against the year before. Over the period under review, exports saw a pronounced setback. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. As a result, the exports attained the peak of X units. From 2017 to 2022, the growth of the exports failed to regain momentum.

In value terms, ignition coil exports fell remarkably to $X in 2022. Overall, exports recorded a deep downturn. The growth pace was the most rapid in 2016 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

India (X units) was the main destination for ignition coil exports from South Korea, accounting for a X% share of total exports. Moreover, ignition coil exports to India exceeded the volume sent to the second major destination, Slovakia (X units), threefold. The third position in this ranking was taken by the United States (X units), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to India stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovakia (X% per year) and the United States (X% per year).

In value terms, India ($X) remains the key foreign market for distributors and ignition coils exports from South Korea, comprising X% of total exports. The second position in the ranking was held by Slovakia ($X), with a X% share of total exports. It was followed by the United States, with a X% share.

From 2012 to 2022, the average annual growth rate of value to India amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovakia (X% per year) and the United States (X% per year).

Export Prices by Country

The average ignition coil export price stood at $X per unit in 2022, increasing by X% against the previous year. Over the period under review, the export price, however, saw a mild slump. The pace of growth was the most pronounced in 2017 when the average export price increased by X%. The export price peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were Iran ($X per unit) and Mexico ($X per unit), while the average price for exports to Australia ($X per unit) and China ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Slovakia (X%), while the prices for the other major destinations experienced a decline.

Ignition Coil Imports

Imports into Republic of Korea

In 2022, overseas purchases of distributors and ignition coils decreased by X% to X units for the first time since 2019, thus ending a two-year rising trend. Over the period under review, imports, however, continue to indicate a prominent increase. The pace of growth was the most pronounced in 2020 with an increase of X%. Over the period under review, imports reached the peak figure at X units in 2021, and then fell significantly in the following year.

In value terms, ignition coil imports contracted to $X in 2022. In general, imports, however, continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2020 with an increase of X%. Imports peaked at $X in 2021, and then declined in the following year.

Imports by Country

China (X units), Japan (X units) and the United States (X units) were the main suppliers of ignition coil imports to South Korea, with a combined X% share of total imports. Turkey, the UK, Slovenia, Mexico, Germany and India lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Mexico (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest ignition coil suppliers to South Korea were China ($X), Japan ($X) and the United States ($X), together accounting for X% of total imports. Turkey, the UK, Slovenia, Mexico, Germany and India lagged somewhat behind, together accounting for a further X%.

Mexico, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average ignition coil import price amounted to $X per unit, surging by X% against the previous year. In general, the import price, however, recorded a noticeable contraction. The most prominent rate of growth was recorded in 2019 an increase of X%. Over the period under review, average import prices hit record highs at $X per unit in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from the UK ($X per unit) and Slovenia ($X per unit), while the price for China ($X per unit) and India ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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