Report Update Nov 1, 2024

Republic of Korea - Electric Hand-Drying Apparatus - Market Analysis, Forecast, Size, Trends and Insights

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Republic of Korea: Electric Hand-Dryer Market 2024

Electric Hand-Dryer Market Size in Republic of Korea

After three years of decline, the South Korean electric hand-dryer market increased by 61% to $X in 2021. In general, consumption showed a strong expansion. Electric hand-dryer consumption peaked at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Electric Hand-Dryer Production in Republic of Korea

In value terms, electric hand-dryer production reached $X in 2021 estimated in export price. Over the period under review, production, however, showed a abrupt downturn. The growth pace was the most rapid in 2018 with an increase of 22%. Electric hand-dryer production peaked at $X in 2015; however, from 2016 to 2021, production remained at a lower figure.

Electric Hand-Dryer Exports

Exports from Republic of Korea

In 2021, exports of electric hand-drying apparatus from South Korea declined sharply to X units, shrinking by -73.7% on 2020. Overall, exports showed a drastic downturn. The pace of growth appeared the most rapid in 2017 when exports increased by 34%. Over the period under review, the exports attained the maximum at X units in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, electric hand-dryer exports dropped remarkably to $X in 2021. In general, exports recorded a abrupt setback. The growth pace was the most rapid in 2017 with an increase of 34% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Vietnam (X units) was the main destination for electric hand-dryer exports from South Korea, with a 70% share of total exports. Moreover, electric hand-dryer exports to Vietnam exceeded the volume sent to the second major destination, the Philippines (X units), tenfold. Japan (X units) ranked third in terms of total exports with a 5.8% share.

From 2012 to 2021, the average annual growth rate of volume to Vietnam amounted to -6.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (+1.7% per year) and Japan (-30.2% per year).

In value terms, Vietnam ($X) remains the key foreign market for electric hand-drying apparatus exports from South Korea, comprising 57% of total exports. The second position in the ranking was held by the Philippines ($X), with a 10% share of total exports. It was followed by Indonesia, with an 8.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Vietnam amounted to -8.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (+34.5% per year) and Indonesia (+69.8% per year).

Export Prices by Country

In 2021, the average electric hand-dryer export price amounted to $X per unit, with an increase of 11% against the previous year. Overall, the export price, however, showed a noticeable curtailment. The pace of growth appeared the most rapid in 2019 an increase of 30%. The export price peaked at $X per unit in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Indonesia ($X per unit), while the average price for exports to Vietnam ($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 Azerbaijan (+92.2%), while the prices for the other major destinations experienced more modest paces of growth.

Electric Hand-Dryer Imports

Imports into Republic of Korea

In 2021, after two years of growth, there was significant decline in supplies from abroad of electric hand-drying apparatus, when their volume decreased by -11.5% to X units. Overall, imports recorded a abrupt decline. The pace of growth was the most pronounced in 2017 when imports increased by 189% against the previous year. Over the period under review, imports reached the peak figure at X units in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, electric hand-dryer imports dropped markedly to $X in 2021. Over the period under review, imports saw a abrupt decrease. The most prominent rate of growth was recorded in 2017 when imports increased by 356% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) was the main electric hand-dryer supplier to South Korea, accounting for a approx. 99.9% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled -8.1%.

In value terms, China ($X) constituted the largest supplier of electric hand-drying apparatus to South Korea.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled -10.4%.

Import Prices by Country

In 2021, the average electric hand-dryer import price amounted to $X per unit, declining by -26.8% against the previous year. Overall, the import price recorded a perceptible shrinkage. The pace of growth appeared the most rapid in 2013 when the average import price increased by 77% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for China.

From 2012 to 2021, the rate of growth in terms of prices for China amounted to -2.4% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for electric hand-drying apparatus in the world?

China constituted the country with the largest volume of electric hand-dryer consumption, accounting for 31% of total volume. Moreover, electric hand-dryer consumption in China exceeded the figures recorded by the second-largest consumer, the United States, threefold. Russia ranked third in terms of total consumption with a 6% share.

What are the largest producers of electric hand-drying apparatus in the world?

China constituted the country with the largest volume of electric hand-dryer production, comprising approx. 42% of total volume. Moreover, electric hand-dryer production in China exceeded the figures recorded by the second-largest producer, the United States, fourfold. The third position in this ranking was occupied by Russia, with a 4.7% share.

What are the leading suppliers of electric hand-drying apparatus to Republic of Korea?

In value terms, China constituted the largest supplier of electric hand-dryer to South Korea, comprising 60% of total imports. The second position in the ranking was occupied by Malaysia, with a 30% share of total imports.

What are the leading importers of electric hand-drying apparatus from Republic of Korea?

In value terms, the largest markets for electric hand-dryer exported from South Korea were Israel, Vietnam and Japan, with a combined 68% share of total exports. These countries were followed by the UK and Panama, which together accounted for a further 13%.

What is the average export price for electric hand-drying apparatus in Republic of Korea?

The average electric hand-dryer export price stood at $115 per unit in 2021, approximately mirroring the previous year.

What is the average import price for electric hand-drying apparatus in Republic of Korea?

In 2021, the average electric hand-dryer import price amounted to $158 per unit, picking up by 8.9% against the previous year.

This report provides an in-depth analysis of the electric hand-dryer market in Republic of Korea. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 27512350 - Electric hand-drying apparatus

Country coverage:

South Korea

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Republic of Korea
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

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This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023