Republic of Korea: Ignition Magneto Market 2025

Ignition Magneto Market Size in Republic of Korea

In 2021, the South Korean ignition magneto market increased by 0.3% to $X, rising for the fifth year in a row after four years of decline. Over the period under review, consumption showed a pronounced slump. The pace of growth was the most pronounced in 2018 with an increase of 9.6%. Ignition magneto consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Ignition Magneto Production in Republic of Korea

In value terms, ignition magneto production shrank modestly to $X in 2021 estimated in export price. Over the period under review, production recorded a perceptible decrease. The pace of growth appeared the most rapid in 2018 with an increase of 12% against the previous year. Ignition magneto production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Ignition Magneto Exports

Exports from Republic of Korea

In 2021, after four years of growth, there was significant decline in overseas shipments of ignition magnetos, magneto-dynamos and magnetic flywheels, when their volume decreased by -34.4% to X units. In general, exports, however, enjoyed a prominent increase. The most prominent rate of growth was recorded in 2018 when exports increased by 258%. Over the period under review, the exports attained the maximum at X units in 2020, and then shrank notably in the following year.

In value terms, ignition magneto exports soared to $X in 2021. Over the period under review, exports recorded a slight curtailment. The pace of growth appeared the most rapid in 2018 when exports increased by 182% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Thailand (X units) was the main destination for ignition magneto exports from South Korea, with a 78% share of total exports. Moreover, ignition magneto exports to Thailand exceeded the volume sent to the second major destination, France (X units), fourfold.

From 2012 to 2021, the average annual growth rate of volume to Thailand amounted to +76.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+22.7% per year) and the United Arab Emirates (+25.7% per year).

In value terms, the largest markets for ignition magneto exported from South Korea were France ($X), Thailand ($X) and the United Arab Emirates ($X), with a combined 97% share of total exports.

In terms of the main countries of destination, the United Arab Emirates, with a CAGR of +64.2%, recorded the highest growth rate of 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

The average ignition magneto export price stood at $X per unit in 2021, rising by 81% against the previous year. Overall, the export price, however, continues to indicate a deep downturn. Over the period under review, the average export prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was the United Arab Emirates ($X per unit), while the average price for exports to Thailand ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+30.6%), while the prices for the other major destinations experienced mixed trend patterns.

Ignition Magneto Imports

Imports into Republic of Korea

In 2021, imports of ignition magnetos, magneto-dynamos and magnetic flywheels into South Korea soared to X units, with an increase of 60% against the previous year's figure. In general, imports, however, saw a drastic downturn. The pace of growth appeared the most rapid in 2015 with an increase of 287%. As a result, imports attained the peak of X units. From 2016 to 2021, the growth of imports failed to regain momentum.

In value terms, ignition magneto imports soared to $X in 2021. Over the period under review, imports, however, showed a abrupt slump. The growth pace was the most rapid in 2015 when imports increased by 167% against the previous year. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Japan (X units), China (X units) and Indonesia (X units) were the main suppliers of ignition magneto imports to South Korea, together accounting for 87% of total imports. These countries were followed by the United States, Hungary and Spain, which together accounted for a further 7.7%.

From 2012 to 2021, the biggest increases were recorded for Spain (with a CAGR of +33.4%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest ignition magneto suppliers to South Korea were the United States ($X), Japan ($X) and China ($X), with a combined 60% share of total imports. Hungary, Spain and Indonesia lagged somewhat behind, together comprising a further 17%.

Hungary, with a CAGR of +40.2%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average ignition magneto import price stood at $X per unit in 2021, waning by -22.9% against the previous year. Overall, the import price recorded a perceptible contraction. The most prominent rate of growth was recorded in 2018 when the average import price increased by 91%. The import price peaked at $X per unit in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hungary (+6.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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