Republic of Korea: Footwear Making Machinery Market 2024

Footwear Making Machinery Market Size in Republic of Korea

The South Korean footwear making machinery market amounted to $X in 2022, surging by X% against the previous year. Overall, consumption showed a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Footwear Making Machinery Production in Republic of Korea

In value terms, footwear making machinery production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when the production volume increased by X% against the previous year. Footwear making machinery production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Footwear Making Machinery Exports

Exports from Republic of Korea

Footwear making machinery exports from South Korea declined rapidly to X units in 2022, with a decrease of X% compared with the previous year. Overall, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when exports increased by X%. The exports peaked at X units in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, footwear making machinery exports reduced notably to $X in 2022. In general, exports, however, posted a prominent increase. The growth pace was the most rapid in 2015 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Indonesia (X units), Vietnam (X units) and India (X units) were the main destinations of footwear making machinery exports from South Korea, with a combined X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Vietnam ($X) and India ($X) appeared to be the largest markets for footwear making machinery exported from South Korea worldwide, with a combined X% share of total exports.

India, with a CAGR of X%, 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

The average footwear making machinery export price stood at $X per unit in 2022, jumping by X% against the previous year. Overall, the export price enjoyed strong growth. The pace of growth appeared the most rapid in 2014 when the average export price increased by X% against the previous year. Over the period under review, the average export prices reached the maximum at $X per unit in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Bangladesh ($X per unit) and Vietnam ($X per unit), while the average price for exports to Mexico ($X per unit) and China ($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 Bangladesh (X%), while the prices for the other major destinations experienced more modest paces of growth.

Footwear Making Machinery Imports

Imports into Republic of Korea

In 2022, after two years of growth, there was significant decline in overseas purchases of machinery for making or repairing footwear, when their volume decreased by X% to X units. Over the period under review, imports recorded a deep setback. The pace of growth was the most pronounced in 2013 with an increase of X%. Over the period under review, imports attained the peak figure at X units in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, footwear making machinery imports fell to $X in 2022. In general, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) was the main supplier of footwear making machinery to South Korea, accounting for a X% share of total imports. It was followed by Germany (X units), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Vietnam (X% per year).

In value terms, China ($X) constituted the largest supplier of machinery for making or repairing footwear to South Korea, comprising X% of total imports. The second position in the ranking was taken by Germany ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Vietnam (X% per year).

Import Prices by Country

The average footwear making machinery import price stood at $X per unit in 2022, with an increase of X% against the previous year. In general, the import price saw a strong increase. The growth pace was the most rapid in 2019 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :