Republic of Korea: Liquid Supply Meter Market 2025

Liquid Supply Meter Market Size in Republic of Korea

The South Korean liquid supply meter market rose remarkably to $X in 2021, surging by 5.5% against the previous year. In general, consumption, however, showed a buoyant expansion. Liquid supply meter consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Liquid Supply Meter Production in Republic of Korea

In value terms, liquid supply meter production rose notably to $X in 2021 estimated in export price. In general, production, however, recorded a buoyant increase. The pace of growth was the most pronounced in 2017 when the production volume increased by 109% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Liquid Supply Meter Exports

Exports from Republic of Korea

Liquid supply meter exports from South Korea dropped markedly to X units in 2021, with a decrease of -56.3% against the previous year's figure. Overall, exports showed a perceptible reduction. The pace of growth appeared the most rapid in 2018 with an increase of 244% against the previous year. As a result, the exports reached the peak of X units. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, liquid supply meter exports dropped rapidly to $X in 2021. In general, exports saw a noticeable contraction. The growth pace was the most rapid in 2018 when exports increased by 175% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Iraq (X units), Norway (X units) and Nigeria (X units) were the main destinations of liquid supply meter exports from South Korea, together accounting for 35% of total exports. These countries were followed by Vietnam, India, Slovakia, the United States, the Philippines, Peru, China, Mongolia, Kazakhstan and Uzbekistan, which together accounted for a further 49%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Slovakia (with a CAGR of +96.1%), while the other leaders experienced more modest paces of growth.

In value terms, Peru ($X), the United States ($X) and Iraq ($X) were the largest markets for liquid supply meter exported from South Korea worldwide, with a combined 45% share of total exports. Slovakia, Vietnam, Norway, Nigeria, China, the Philippines, India, Uzbekistan, Kazakhstan and Mongolia lagged somewhat behind, together comprising a further 37%.

Slovakia, with a CAGR of +138.9%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average liquid supply meter export price amounted to $X per unit, which is down by -2.1% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 an increase of 38% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Peru ($X per unit), while the average price for exports to Mongolia ($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 Peru (+15.0%), while the prices for the other major destinations experienced more modest paces of growth.

Liquid Supply Meter Imports

Imports into Republic of Korea

In 2021, the amount of liquid supply or production meters imported into South Korea surged to X units, rising by 22% against the year before. Overall, imports, however, saw a pronounced reduction. The pace of growth was the most pronounced in 2014 when imports increased by 217%. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, liquid supply meter imports soared to $X in 2021. Over the period under review, imports recorded a tangible increase. The most prominent rate of growth was recorded in 2014 with an increase of 136% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of liquid supply meter to South Korea, accounting for a 47% share of total imports. Moreover, liquid supply meter imports from China exceeded the figures recorded by the second-largest supplier, Poland (X units), threefold. Japan (X units) ranked third in terms of total imports with a 17% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +19.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+14.2% per year) and Japan (+20.5% per year).

In value terms, the United States ($X) constituted the largest supplier of liquid supply or production meters to South Korea, comprising 45% of total imports. The second position in the ranking was held by China ($X), with a 12% share of total imports. It was followed by Japan, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from the United States amounted to +11.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+26.3% per year) and Japan (+4.7% per year).

Import Prices by Country

In 2021, the average liquid supply meter import price amounted to $X per unit, with an increase of 6.6% against the previous year. In general, the import price saw strong growth. The pace of growth was the most pronounced in 2013 when the average import price increased by 420% against the previous year. As a result, import price attained the peak level of $X per unit. From 2014 to 2021, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+6.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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