Republic of Korea: Electrical Signalling Apparatus Market 2025

Electrical Signalling Apparatus Market Size in Republic of Korea

The South Korean electrical signalling apparatus market dropped to $X in 2022, with a decrease of -11.8% against the previous year. Over the period under review, consumption continues to indicate a noticeable reduction. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Electrical Signalling Apparatus Production in Republic of Korea

In value terms, electrical signalling apparatus production reduced to $X in 2022 estimated in export price. In general, production continues to indicate a perceptible curtailment. The most prominent rate of growth was recorded in 2013 when the production volume increased by 37% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

Electrical Signalling Apparatus Exports

Exports from Republic of Korea

In 2022, electrical signalling apparatus exports from South Korea shrank to X units, declining by -9.6% compared with the previous year. Overall, exports recorded a pronounced decline. The most prominent rate of growth was recorded in 2017 with an increase of 87%. The exports peaked at X units in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, electrical signalling apparatus exports shrank to $X in 2022. Over the period under review, exports showed a pronounced curtailment. The most prominent rate of growth was recorded in 2015 with an increase of 254%. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X units), Mexico (X units) and China (X units) were the main destinations of electrical signalling apparatus exports from South Korea, together comprising 40% of total exports. India, Italy, Vietnam, Japan, Thailand, Germany, Kuwait, Slovakia, Malaysia and Russia lagged somewhat behind, together comprising a further 45%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Italy (with a CAGR of +46.3%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Italy ($X) and India ($X) appeared to be the largest markets for electrical signalling apparatus exported from South Korea worldwide, together comprising 48% of total exports.

In terms of the main countries of destination, Italy, with a CAGR of +75.0%, 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

In 2022, the average electrical signalling apparatus export price amounted to $X per unit, picking up by 5% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2015 an increase of 327%. Over the period under review, the average export prices hit record highs at $X per unit in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to Mexico ($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 India (+27.4%), while the prices for the other major destinations experienced more modest paces of growth.

Electrical Signalling Apparatus Imports

Imports into Republic of Korea

In 2022, the amount of electrical apparatus for sound or visual signalling imported into South Korea dropped remarkably to X units, which is down by -15.5% compared with the previous year's figure. Over the period under review, imports, however, showed notable growth. The pace of growth appeared the most rapid in 2015 when imports increased by 70%. Over the period under review, imports attained the maximum at X units in 2021, and then declined dramatically in the following year.

In value terms, electrical signalling apparatus imports dropped to $X in 2022. Overall, total imports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +6.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +20.7% against 2020 indices. The pace of growth was the most pronounced in 2015 with an increase of 57% against the previous year. Over the period under review, imports reached the peak figure at $X in 2021, and then shrank in the following year.

Imports by Country

In 2022, China (X units) constituted the largest supplier of electrical signalling apparatus to South Korea, accounting for a 65% share of total imports. Moreover, electrical signalling apparatus imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X units), fourfold. The third position in this ranking was taken by Thailand (X units), with a 5.4% share.

From 2012 to 2022, the average annual growth rate of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+28.9% per year) and Thailand (+31.3% per year).

In value terms, China ($X), Vietnam ($X) and Thailand ($X) were the largest electrical signalling apparatus suppliers to South Korea, with a combined 75% share of total imports. The Philippines, Taiwan (Chinese) and India lagged somewhat behind, together accounting for a further 4.2%.

In terms of the main suppliers, India, with a CAGR of +39.7%, saw the highest rates of growth with regard to 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 electrical signalling apparatus import price stood at $X per unit in 2022, stabilizing at the previous year. Overall, import price indicated a noticeable expansion from 2012 to 2022: its price increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, electrical signalling apparatus import price increased by +12.7% against 2020 indices. The most prominent rate of growth was recorded in 2013 when the average import price increased by 68% against the previous year. Over the period under review, average import prices reached the peak figure at $X per unit in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Thailand ($X per unit), while the price for India ($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 Philippines (+5.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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