Republic of Korea: Hand-Operated Air Pump Market 2024

Hand-Operated Air Pump Market Size in Republic of Korea

The South Korean hand-operated air pump market amounted to $X in 2022, approximately equating the previous year. The market value increased at an average annual rate of +1.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the market remained at a somewhat lower figure.

Hand-Operated Air Pump Production in Republic of Korea

In value terms, hand-operated air pump production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 with an increase of 48%. As a result, production attained the peak level of $X. From 2016 to 2022, production growth remained at a somewhat lower figure.

Hand-Operated Air Pump Exports

Exports from Republic of Korea

For the third year in a row, South Korea recorded growth in shipments abroad of hand or foot-operated air pumps, which increased by 101% to X units in 2022. In general, exports recorded a resilient expansion. The most prominent rate of growth was recorded in 2021 with an increase of 138% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, hand-operated air pump exports expanded markedly to $X in 2022. Over the period under review, exports continue to indicate prominent growth. The most prominent rate of growth was recorded in 2021 when exports increased by 82% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the near future.

Exports by Country

China (X units) was the main destination for hand-operated air pump exports from South Korea, with a 76% share of total exports. Moreover, hand-operated air pump exports to China exceeded the volume sent to the second major destination, Pakistan (X units), more than tenfold. The third position in this ranking was held by the United States (X units), with a 5.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China stood at +21.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Pakistan (+8.5% per year) and the United States (+33.0% per year).

In value terms, China ($X) remains the key foreign market for hand or foot-operated air pumps exports from South Korea, comprising 76% of total exports. The second position in the ranking was taken by Pakistan ($X), with a 5.3% share of total exports. It was followed by the United States, with a 5.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China totaled +14.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Pakistan (+2.4% per year) and the United States (+25.6% per year).

Export Prices by Country

In 2022, the average hand-operated air pump export price amounted to $X per unit, declining by -43.5% against the previous year. In general, the export price showed a abrupt contraction. The pace of growth was the most pronounced in 2019 an increase of 82% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per unit in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Saudi Arabia ($X per unit) and the United States ($X per unit), while the average price for exports to Indonesia ($X per unit) and China ($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 Saudi Arabia (-2.7%), while the prices for the other major destinations experienced a decline.

Hand-Operated Air Pump Imports

Imports into Republic of Korea

In 2022, the amount of hand or foot-operated air pumps imported into South Korea expanded rapidly to X units, growing by 13% compared with the year before. In general, imports recorded a modest increase. The most prominent rate of growth was recorded in 2015 when imports increased by 30% against the previous year. Imports peaked at X units in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, hand-operated air pump imports expanded rapidly to $X in 2022. The total import value increased at an average annual rate of +2.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2015 with an increase of 26% against the previous year. Imports peaked at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest hand-operated air pump supplier to South Korea, with a 69% share of total imports. Moreover, hand-operated air pump imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X units), threefold. The United States (X units) ranked third in terms of total imports with a 3.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +3.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+4.4% per year) and the United States (-18.6% per year).

In value terms, China ($X) constituted the largest supplier of hand or foot-operated air pumps to South Korea, comprising 69% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 21% share of total imports. It was followed by the United States, with a 3.2% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +5.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+6.4% per year) and the United States (-17.1% per year).

Import Prices by Country

The average hand-operated air pump import price stood at $X per unit in 2022, which is down by -3.2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.9%. The most prominent rate of growth was recorded in 2020 when the average import price increased by 15%. The import price peaked at $X per unit in 2021, and then declined slightly in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were the United States ($X per unit) and Taiwan (Chinese) ($X per unit), while the price for China ($X per unit) and Germany ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+1.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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