Republic of Korea: Market for Electric Burglar Or Fire Alarms And Similar Apparatus 2024

Market Size for Electric Burglar Or Fire Alarms And Similar Apparatus in Republic of Korea

In 2021, the South Korean market for electric burglar or fire alarms and similar apparatus decreased by -8.6% to $X for the first time since 2018, thus ending a two-year rising trend. Overall, consumption, however, continues to indicate a strong expansion. Electric burglar or fire alarm consumption peaked at $X in 2020, and then reduced in the following year.

Production of Electric Burglar Or Fire Alarms And Similar Apparatus in Republic of Korea

In value terms, electric burglar or fire alarm production reduced to $X in 2021 estimated in export price. Over the period under review, production, however, showed strong growth. The pace of growth appeared the most rapid in 2015 when the production volume increased by 83% against the previous year. Electric burglar or fire alarm production peaked at $X in 2020, and then fell in the following year.

Exports of Electric Burglar Or Fire Alarms And Similar Apparatus

Exports from Republic of Korea

In 2021, approx. X units of electric burglar or fire alarms and similar apparatus were exported from South Korea; picking up by 26% on the previous year's figure. Overall, exports, however, recorded a perceptible shrinkage. The pace of growth appeared the most rapid in 2013 with an increase of 33%. As a result, the exports reached the peak of X units. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, electric burglar or fire alarm exports skyrocketed to $X in 2021. Over the period under review, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 115% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Vietnam (X units), China (X units) and Indonesia (X units) were the main destinations of electric burglar or fire alarm exports from South Korea, with a combined 57% share of total exports. These countries were followed by the United States, Poland, Algeria, Japan, Singapore, India, Hungary, Taiwan (Chinese), Colombia and Russia, which together accounted for a further 27%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Algeria (with a CAGR of +162.1%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), China ($X) and Vietnam ($X) constituted the largest markets for electric burglar or fire alarm exported from South Korea worldwide, with a combined 30% share of total exports. These countries were followed by Hungary, Japan, Algeria, Poland, Indonesia, Singapore, Taiwan (Chinese), India, Russia and Colombia, which together accounted for a further 30%.

Among the main countries of destination, Algeria, with a CAGR of +189.6%, saw the highest rates of growth with regard to 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

In 2021, the average export price for electric burglar or fire alarms and similar apparatus amounted to $X per unit, rising by 1.6% against the previous year. In general, export price indicated a noticeable expansion from 2012 to 2021: its price increased at an average annual rate of +3.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, electric burglar or fire alarm export price increased by +29.8% against 2019 indices. The most prominent rate of growth was recorded in 2013 when the average export price increased by 61%. The export price peaked at $X per unit in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Hungary ($X per unit), while the average price for exports to Vietnam ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Algeria (+10.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Electric Burglar Or Fire Alarms And Similar Apparatus

Imports into Republic of Korea

In 2021, supplies from abroad of electric burglar or fire alarms and similar apparatus decreased by -6% to X units, falling for the third consecutive year after three years of growth. Over the period under review, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 when imports increased by 21%. Imports peaked at X units in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, electric burglar or fire alarm imports expanded markedly to $X in 2021. The total import value increased at an average annual rate of +1.3% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 when imports increased by 23%. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of electric burglar or fire alarm to South Korea, accounting for a 71% share of total imports. Moreover, electric burglar or fire alarm imports from China exceeded the figures recorded by the second-largest supplier, Indonesia (X units), ninefold. The third position in this ranking was taken by Sweden (X units), with a 4.6% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +6.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+51.4% per year) and Sweden (-9.7% per year).

In value terms, the largest electric burglar or fire alarm suppliers to South Korea were China ($X), Malaysia ($X) and the United States ($X), together accounting for 53% of total imports. Sweden, the UK, Japan, Norway, Indonesia and Germany lagged somewhat behind, together accounting for a further 37%.

In terms of the main suppliers, Indonesia, with a CAGR of +62.1%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for electric burglar or fire alarms and similar apparatus stood at $X per unit in 2021, rising by 17% against the previous year. In general, import price indicated a modest increase from 2012 to 2021: its price increased at an average annual rate of +1.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, electric burglar or fire alarm import price increased by +29.6% against 2018 indices. The most prominent rate of growth was recorded in 2014 when the average import price increased by 22% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Malaysia ($X per unit), while the price for Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+23.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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