Republic of Korea: Electricity Supply Meter Market 2025

Electricity Supply Meter Market Size in Republic of Korea

The South Korean electricity supply meter market dropped to $X in 2022, stabilizing at the previous year. Over the period under review, consumption, however, recorded a prominent increase. Over the period under review, the market reached the peak level at $X in 2021, and then shrank in the following year.

Electricity Supply Meter Production in Republic of Korea

In value terms, electricity supply meter production shrank modestly to $X in 2022 estimated in export price. In general, the total production indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Electricity Supply Meter Exports

Exports from Republic of Korea

In 2022, shipments abroad of electricity supply or production meters decreased by X% to X units, falling for the sixth year in a row after five years of growth. In general, exports recorded a significant decrease. The pace of growth appeared the most rapid in 2013 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, electricity supply meter exports declined significantly to $X in 2022. Over the period under review, exports continue to indicate a sharp shrinkage. The pace of growth was the most pronounced in 2013 when exports increased by X% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Japan (X units) was the main destination for electricity supply meter exports from South Korea, accounting for a X% share of total exports. Moreover, electricity supply meter exports to Japan exceeded the volume sent to the second major destination, China (X units), twofold. The third position in this ranking was held by the United States (X units), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Japan amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (X% per year) and the United States (X% per year).

In value terms, Japan ($X) emerged as the key foreign market for electricity supply or production meters exports from South Korea, comprising X% of total exports. The second position in the ranking was held by China ($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 rate of growth in terms of value to Japan totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (X% per year) and the United States (X% per year).

Export Prices by Country

In 2022, the average electricity supply meter export price amounted to $X per unit, surging by X% against the previous year. Overall, the export price, however, saw a slight downturn. Over the period under review, the average export prices hit record highs at $X per unit in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the United States ($X per unit) and Vietnam ($X per unit), while the average price for exports to Bangladesh ($X per unit) and Slovakia ($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 Slovenia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Electricity Supply Meter Imports

Imports into Republic of Korea

Electricity supply meter imports into South Korea shrank slightly to X units in 2022, which is down by X% on the year before. Over the period under review, imports, however, recorded a buoyant expansion. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. As a result, imports attained the peak of X units. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, electricity supply meter imports shrank to $X in 2022. Overall, imports, however, saw a resilient expansion. The growth pace was the most rapid in 2020 when imports increased by X% against the previous year. Imports peaked at $X in 2021, and then declined in the following year.

Imports by Country

In 2022, China (X units) was the main supplier of electricity supply meter to South Korea, with a X% share of total imports. Moreover, electricity supply meter imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Italy (X% per year).

In value terms, China ($X) constituted the largest supplier of electricity supply or production meters to South Korea, comprising X% of total imports. The second position in the ranking was taken by the United States ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Italy (X% per year).

Import Prices by Country

The average electricity supply meter import price stood at $X per unit in 2022, falling by X% against the previous year. Overall, the import price continues to indicate a perceptible contraction. The most prominent rate of growth was recorded in 2020 when the average import price increased by X% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per unit), while the price for the United States ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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