Republic of Korea: Market for Equipment For Scaffolding, Shuttering, Propping Or Pit Propping 2025

Market Size for Equipment For Scaffolding, Shuttering, Propping Or Pit Propping in Republic of Korea

The South Korean market for equipment for scaffolding, shuttering, propping or pit propping skyrocketed to $X in 2021, with an increase of 16% against the previous year. Overall, the total consumption indicated measured growth from 2012 to 2021: its value increased at an average annual rate of +3.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +12.1% against 2018 indices. Scaffolding, shuttering, and propping equipment consumption peaked in 2021 and is likely to continue growth in the near future.

Production of Equipment For Scaffolding, Shuttering, Propping Or Pit Propping in Republic of Korea

In value terms, scaffolding, shuttering, and propping equipment production totaled $X in 2021 estimated in export price. In general, production saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 34%. Scaffolding, shuttering, and propping equipment production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Exports of Equipment For Scaffolding, Shuttering, Propping Or Pit Propping

Exports from Republic of Korea

In 2021, overseas shipments of equipment for scaffolding, shuttering, propping or pit propping decreased by -8.8% to X tons, falling for the second year in a row after two years of growth. In general, exports showed a mild setback. The pace of growth appeared the most rapid in 2014 when exports increased by 18%. Over the period under review, the exports attained the peak figure at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, scaffolding, shuttering, and propping equipment exports shrank to $X in 2021. Overall, exports showed a pronounced setback. The pace of growth was the most pronounced in 2015 when exports increased by 14%. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Costa Rica (X tons), Turkey (X tons) and the United States (X tons) were the main destinations of scaffolding, shuttering, and propping equipment exports from South Korea, together accounting for 42% of total exports. These countries were followed by Japan, Denmark, Germany, Vietnam, Taiwan (Chinese), Canada, Russia, Poland and India, which together accounted for a further 39%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Poland (with a CAGR of +74.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for scaffolding, shuttering, and propping equipment exported from South Korea were Japan ($X), Turkey ($X) and Costa Rica ($X), with a combined 37% share of total exports. Denmark, Germany, the United States, Taiwan (Chinese), Vietnam, Russia, Canada, Poland and India lagged somewhat behind, together comprising a further 42%.

In terms of the main countries of destination, Poland, with a CAGR of +72.2%, 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 equipment for scaffolding, shuttering, propping or pit propping amounted to $X per ton, stabilizing at the previous year. In general, the export price continues to indicate a slight reduction. The pace of growth appeared the most rapid in 2020 an increase of 12% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+5.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Equipment For Scaffolding, Shuttering, Propping Or Pit Propping

Imports into Republic of Korea

In 2021, the amount of equipment for scaffolding, shuttering, propping or pit propping imported into South Korea expanded remarkably to X tons, surging by 14% against the previous year's figure. Overall, imports continue to indicate a remarkable increase. The growth pace was the most rapid in 2014 with an increase of 87%. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, scaffolding, shuttering, and propping equipment imports surged to $X in 2021. In general, total imports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +8.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 when imports increased by 78% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of scaffolding, shuttering, and propping equipment to South Korea, accounting for a 77% share of total imports. Moreover, scaffolding, shuttering, and propping equipment imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), more than tenfold. The third position in this ranking was taken by Vietnam (X tons), with a 5.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +30.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+21.9% per year) and Vietnam (+4.8% per year).

In value terms, China ($X) constituted the largest supplier of equipment for scaffolding, shuttering, propping or pit propping to South Korea, comprising 70% of total imports. The second position in the ranking was held by Germany ($X), with a 10% share of total imports. It was followed by Kuwait, with a 4.2% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +28.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+16.3% per year) and Kuwait (+19.7% per year).

Import Prices by Country

In 2021, the average import price for equipment for scaffolding, shuttering, propping or pit propping amounted to $X per ton, with an increase of 9.8% against the previous year. In general, the import price, however, showed a abrupt downturn. The pace of growth appeared the most rapid in 2018 when the average import price increased by 31% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, 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 Germany ($X per ton), while the price for Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kuwait (+19.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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