Republic of Korea: Industrial Brewery Machinery Market 2024

Industrial Brewery Machinery Market Size in Republic of Korea

The South Korean industrial brewery machinery market fell to $X in 2022, waning by X% against the previous year. Overall, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Industrial Brewery Machinery Production in Republic of Korea

In value terms, industrial brewery machinery production contracted to $X in 2022 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

Industrial Brewery Machinery Exports

Exports from Republic of Korea

Industrial brewery machinery exports from South Korea skyrocketed to X units in 2022, with an increase of X% against the year before. In general, exports posted a mild increase. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in years to come.

In value terms, industrial brewery machinery exports expanded significantly to $X in 2022. Over the period under review, exports, however, continue to indicate a abrupt shrinkage. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Germany (X units) was the main destination for industrial brewery machinery exports from South Korea, accounting for a X% share of total exports. Moreover, industrial brewery machinery exports to Germany exceeded the volume sent to the second major destination, Malaysia (X units), fourfold. The third position in this ranking was held by Japan (X units), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Germany stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (X% per year) and Japan (X% per year).

In value terms, Germany ($X) emerged as the key foreign market for industrial brewery machinery exports from South Korea, comprising X% of total exports. The second position in the ranking was taken by Japan ($X), with an X% share of total exports. It was followed by Malaysia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (X% per year) and Malaysia (X% per year).

Export Prices by Country

In 2022, the average industrial brewery machinery export price amounted to $X per unit, reducing by X% against the previous year. In general, the export price saw a abrupt setback. The growth pace was the most rapid in 2016 an increase of X%. The export price peaked at $X per unit in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

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

Industrial Brewery Machinery Imports

Imports into Republic of Korea

In 2022, the amount of industrial brewery machinery imported into South Korea declined sharply to X units, which is down by X% on the year before. Overall, imports, however, showed a prominent expansion. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. Imports peaked at X units in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, industrial brewery machinery imports shrank remarkably to $X in 2022. Over the period under review, imports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, imports reached the maximum at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest industrial brewery machinery supplier to South Korea, with a X% share of total imports. Moreover, industrial brewery machinery imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), sixfold.

From 2012 to 2022, the average annual growth rate of volume from China stood at X%.

In value terms, China ($X) constituted the largest supplier of industrial brewery machinery to South Korea, comprising X% of total imports. The second position in the ranking was held by Germany ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China amounted to X%.

Import Prices by Country

In 2022, the average industrial brewery machinery import price amounted to $X per unit, which is down by X% against the previous year. Over the period under review, import price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, industrial brewery machinery import price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2013 an increase of X%. As a result, import price reached the peak level of $X per unit. From 2014 to 2022, the average import prices failed to regain momentum.

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 Germany ($X per unit), while the price for China totaled $X per unit.

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

Source: IndexBox Platform

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