Republic of Korea - Hydraulic Cylinders and Systems - Market Analysis, Forecast, Size, Trends and Insights
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View PricingRepublic of Korea: Market for Hydraulic Cylinders And Systems 2024
Market Size for Hydraulic Cylinders And Systems in Republic of Korea
The South Korean hydraulic cylinder and system market surged to $X in 2022, increasing by 118% against the previous year. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.
Production of Hydraulic Cylinders And Systems in Republic of Korea
In value terms, hydraulic cylinder and system production declined to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 when the production volume increased by 31%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.
Exports of Hydraulic Cylinders And Systems
Exports from Republic of Korea
In 2022, approx. X units of hydraulic cylinders and systems were exported from South Korea; which is down by -15.4% on 2021 figures. In general, exports, however, showed prominent growth. The most prominent rate of growth was recorded in 2021 when exports increased by 57%. As a result, the exports reached the peak of X units, and then contracted dramatically in the following year.
In value terms, hydraulic cylinder and system exports fell remarkably to $X in 2022. Over the period under review, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when exports increased by 55%. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.
Exports by Country
The United States (X units), Japan (X units) and China (X units) were the main destinations of hydraulic cylinder and system exports from South Korea, together comprising 84% of total exports. Germany, Canada, Sweden, India, the UK, the Netherlands and France lagged somewhat behind, together comprising a further 11%.
From 2012 to 2022, the biggest increases were recorded for Canada (with a CAGR of +69.2%), while shipments for the other leaders experienced more modest paces of growth.
In value terms, the United States ($X) remains the key foreign market for hydraulic cylinders and systems exports from South Korea, comprising 49% of total exports. The second position in the ranking was held by Japan ($X), with a 20% share of total exports. It was followed by China, with a 10% share.
From 2012 to 2022, the average annual growth rate of value to the United States amounted to +7.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-3.7% per year) and China (-6.1% per year).
Export Prices by Country
The average hydraulic cylinder and system export price stood at $X per thousand units in 2022, dropping by -2.7% against the previous year. In general, the export price recorded a abrupt descent. The most prominent rate of growth was recorded in 2018 an increase of 9.1%. Over the period under review, the average export prices attained the peak figure at $X per thousand units in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.
There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per thousand units), while the average price for exports to Sweden ($X per thousand units) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+1.7%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Hydraulic Cylinders And Systems
Imports into Republic of Korea
Hydraulic cylinder and system imports into South Korea contracted rapidly to X units in 2022, which is down by -20.2% on the year before. Over the period under review, imports, however, continue to indicate a resilient increase. The growth pace was the most rapid in 2021 with an increase of 91%. As a result, imports attained the peak of X units, and then reduced rapidly in the following year.
In value terms, hydraulic cylinder and system imports contracted rapidly to $X in 2022. In general, total imports indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +3.9% 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 +22.8% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 46% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.
Imports by Country
In 2022, China (X units) constituted the largest supplier of hydraulic cylinder and system to South Korea, accounting for a 88% share of total imports. Moreover, hydraulic cylinder and system imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), more than tenfold. Japan (X units) ranked third in terms of total imports with a 2.4% share.
From 2012 to 2022, the average annual growth rate of volume from China stood at +15.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-1.1% per year) and Japan (-7.2% per year).
In value terms, China ($X) constituted the largest supplier of hydraulic cylinders and systems to South Korea, comprising 57% of total imports. The second position in the ranking was taken by Germany ($X), with a 14% share of total imports. It was followed by the United States, with a 9.8% share.
From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +19.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+7.2% per year) and the United States (-0.9% per year).
Import Prices by Country
The average hydraulic cylinder and system import price stood at $X per unit in 2022, picking up by 5.7% against the previous year. Over the period under review, the import price, however, saw a pronounced setback. The pace of growth was the most pronounced in 2020 an increase of 10%. Over the period under review, average import prices attained the maximum at $X per unit in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the UK ($X per unit), while the price for China ($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 UK (+34.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Source: IndexBox Platform
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the market for hydraulic cylinder and system in Republic of Korea. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 28121130 - Hydraulic cylinders
- Prodcom 28121630 - Hydraulic systems (power packs with actuators)
Country coverage:
- South Korea
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Republic of Korea
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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