Republic of Korea: Market for Electronic Instruments And Machines For Measuring Geometrical Quantities 2025

Market Size for Electronic Instruments And Machines For Measuring Geometrical Quantities in Republic of Korea

The South Korean geometrical quantities electronic measurer market contracted rapidly to $X in 2022, reducing by -28.5% against the previous year. In general, consumption recorded a mild reduction. As a result, consumption attained the peak level of $X, and then contracted dramatically in the following year.

Production of Electronic Instruments And Machines For Measuring Geometrical Quantities in Republic of Korea

In value terms, geometrical quantities electronic measurer production contracted to $X in 2022 estimated in export price. Overall, production, however, showed notable growth. The pace of growth appeared the most rapid in 2017 when the production volume increased by 41%. As a result, production attained the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

Exports of Electronic Instruments And Machines For Measuring Geometrical Quantities

Exports from Republic of Korea

Geometrical quantities electronic measurer exports from South Korea dropped to X units in 2022, standing approx. at 2021. Over the period under review, total exports indicated notable growth from 2012 to 2022: its volume increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by +0.9% against 2020 indices. The most prominent rate of growth was recorded in 2016 when exports increased by 22% against the previous year. The exports peaked at X units in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, geometrical quantities electronic measurer exports contracted to $X in 2022. In general, total exports indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +6.2% against 2020 indices. The pace of growth was the most pronounced in 2017 with an increase of 32% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The United States (X units), China (X units) and Vietnam (X units) were the main destinations of geometrical quantities electronic measurer exports from South Korea, with a combined 53% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +18.5%), while the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), China ($X) and the United States ($X) constituted the largest markets for geometrical quantities electronic measurer exported from South Korea worldwide, together comprising 53% of total exports. India, Poland, Mexico, Japan, Germany, Indonesia, Slovakia, Brazil, the Czech Republic and Russia lagged somewhat behind, together comprising a further 33%.

Mexico, with a CAGR of +26.2%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average geometrical quantities electronic measurer export price stood at $X per unit in 2022, declining by -4.7% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the average export price increased by 12% against the previous year. The export price peaked at $X per unit in 2021, and then dropped slightly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Poland ($X per unit), while the average price for exports to Russia ($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 Mexico (+11.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Electronic Instruments And Machines For Measuring Geometrical Quantities

Imports into Republic of Korea

After two years of growth, supplies from abroad of electronic instruments and machines for measuring geometrical quantities decreased by -11.1% to X units in 2022. Overall, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when imports increased by 31%. Imports peaked at X units in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, geometrical quantities electronic measurer imports reduced to $X in 2022. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when imports increased by 26% against the previous year. Over the period under review, imports reached the peak figure at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest geometrical quantities electronic measurer supplier to South Korea, with a 36% share of total imports. Moreover, geometrical quantities electronic measurer imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X units), twofold. Japan (X units) ranked third in terms of total imports with a 15% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +5.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+11.3% per year) and Japan (-1.0% per year).

In value terms, the largest geometrical quantities electronic measurer suppliers to South Korea were China ($X), Japan ($X) and Germany ($X), together accounting for 48% of total imports. The United States, Vietnam, Italy, Thailand and India lagged somewhat behind, together accounting for a further 23%.

Among the main suppliers, Thailand, with a CAGR of +37.7%, 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 geometrical quantities electronic measurer import price stood at $X per unit in 2022, picking up by 2.5% against the previous year. In general, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average import price increased by 14% against the previous year. Over the period under review, average import prices reached the maximum at $X per unit in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per unit), while the price for India ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+11.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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