Republic of Korea: Starter Battery Market 2025

Starter Battery Market Size in Republic of Korea

The South Korean starter battery market surged to $X in 2022, growing by 160% against the previous year. In general, consumption posted a resilient expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Starter Battery Production in Republic of Korea

In value terms, starter battery production rose to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 when the production volume increased by 20% against the previous year. As a result, production reached the peak level of $X; afterwards, it flattened through to 2022.

Starter Battery Exports

Exports from Republic of Korea

Starter battery exports from South Korea fell rapidly to X units in 2022, waning by -19.1% compared with 2021 figures. In general, total exports indicated a notable expansion from 2012 to 2022: its volume increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when exports increased by 24% against the previous year. As a result, the exports reached the peak of X units. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, starter battery exports dropped to $X in 2022. The total export value increased at an average annual rate of +4.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 when exports increased by 20%. Over the period under review, the exports hit record highs at $X in 2021, and then reduced in the following year.

Exports by Country

The United States (X units) was the main destination for starter battery exports from South Korea, accounting for a 26% share of total exports. Moreover, starter battery exports to the United States exceeded the volume sent to the second major destination, Japan (X units), threefold. The third position in this ranking was held by Australia (X units), with a 7.9% share.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to +15.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-0.3% per year) and Australia (+3.6% per year).

In value terms, the United States ($X) remains the key foreign market for lead-acid accumulators for starting piston engines exports from South Korea, comprising 26% of total exports. The second position in the ranking was held by Japan ($X), with a 9.4% share of total exports. It was followed by Australia, with a 7.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to +17.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+1.4% per year) and Australia (+5.4% per year).

Export Prices by Country

The average starter battery export price stood at $X per unit in 2022, growing by 12% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.7%. The pace of growth appeared the most rapid in 2018 when the average export price increased by 36% against the previous year. The export price peaked in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Chile ($X per unit) and Taiwan (Chinese) ($X per unit), while the average price for exports to the United Arab Emirates ($X per unit) and Thailand ($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 Chile (+1.8%), while the prices for the other major destinations experienced more modest paces of growth.

Starter Battery Imports

Imports into Republic of Korea

In 2022, supplies from abroad of lead-acid accumulators for starting piston engines decreased by -30.5% to X units, falling for the second consecutive year after two years of growth. In general, imports, however, enjoyed a strong increase. The most prominent rate of growth was recorded in 2016 when imports increased by 86% against the previous year. Over the period under review, imports hit record highs at X units in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, starter battery imports reduced notably to $X in 2022. Over the period under review, imports, however, recorded strong growth. The growth pace was the most rapid in 2017 when imports increased by 81% against the previous year. Over the period under review, imports reached the peak figure at $X in 2021, and then dropped markedly in the following year.

Imports by Country

Germany (X units), China (X units) and Vietnam (X units) were the main suppliers of starter battery imports to South Korea, together accounting for 80% of total imports. The United States, Italy, Poland and Austria lagged somewhat behind, together comprising a further 14%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +88.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), China ($X) and Vietnam ($X) constituted the largest starter battery suppliers to South Korea, with a combined 80% share of total imports.

Vietnam, with a CAGR of +90.0%, 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 more modest paces of growth.

Import Prices by Country

The average starter battery import price stood at $X per unit in 2022, growing by 2.6% against the previous year. Overall, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 15% against the previous year. The import price peaked at $X per unit in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Austria ($X per unit) and Italy ($X per unit), while the price for Poland ($X per unit) and Germany ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+0.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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