Republic of Korea: Motorcycle And Scooter Market 2022

Motorcycle And Scooter Market Size in Republic of Korea

In 2020, the South Korean motorcycle and scooter market decreased by -X% to $X, falling for the second year in a row after two years of growth. In general, consumption, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the market value increased by X% year-to-year. Over the period under review, the market attained the peak level at $X in 2011; however, from 2012 to 2020, consumption failed to regain the momentum.

Motorcycle And Scooter Production in Republic of Korea

In value terms, motorcycle and scooter production declined rapidly to $X in 2020 estimated in export prices. In general, production continues to indicate a abrupt slump. The pace of growth was the most pronounced in 2018 when the production volume increased by X% year-to-year. Motorcycle and scooter production peaked at $X in 2011; however, from 2012 to 2020, production stood at a somewhat lower figure.

Motorcycle And Scooter Exports

Exports from Republic of Korea

Motorcycle and scooter exports from South Korea shrank notably to X units in 2020, waning by -X% against 2019. In general, exports saw a dramatic descent. The most prominent rate of growth was recorded in 2016 when exports increased by X% y-o-y. Exports peaked at X units in 2007; however, from 2008 to 2020, exports remained at a lower figure.

In value terms, motorcycle and scooter exports shrank notably to $X in 2020. Overall, exports recorded a precipitous setback. The growth pace was the most rapid in 2010 with an increase of X% year-to-year. Over the period under review, exports hit record highs at $X in 2007; however, from 2008 to 2020, exports failed to regain the momentum.

Exports by Country

Cambodia (X units), Iraq (X units) and the United Arab Emirates (X units) were the main destinations of motorcycle and scooter exports from South Korea, together comprising X% of total exports. These countries were followed by Pakistan, Nigeria, Kyrgyzstan and Ghana, which together accounted for a further X 2007 to 2020, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Kyrgyzstan, while exports for the other leaders experienced more modest paces of growth.

In value terms, Cambodia ($X), Iraq ($X) and the United Arab Emirates ($X) were the largest markets for motorcycle and scooter exported from South Korea worldwide, with a combined X% share of total exports. These countries were followed by Nigeria, Pakistan, Ghana and Kyrgyzstan, which together accounted for a further X (+X% per year) recorded the highest growth rate of 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 motorcycle and scooter export price stood at $X per unit in 2020, jumping by X% against the previous year. Overall, export price indicated measured growth from 2007 to 2020: its price increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, motorcycle and scooter export price decreased by -X% against 2018 indices. The pace of growth appeared the most rapid in 2018 when the average export price increased by X% year-to-year. The export price peaked at $X per unit in 2011; however, from 2012 to 2020, export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2020, the country with the highest price was Iraq ($X per unit), while the average price for exports to Pakistan ($X per unit) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Pakistan, while the prices for the other major destinations experienced more modest paces of growth.

Motorcycle And Scooter Imports

Imports into Republic of Korea

In 2020, motorcycle and scooter imports into South Korea surged to X units, jumping by X% on 2019. In general, imports recorded a perceptible expansion. The most prominent rate of growth was recorded in 2008 with an increase of X% y-o-y. Over the period under review, imports attained the peak figure in 2020 and are expected to retain growth in years to come.

In value terms, motorcycle and scooter imports skyrocketed to $X in 2020. Overall, imports enjoyed a prominent expansion. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, imports reached the maximum in 2020 and are expected to retain growth in the immediate term.

Imports by Country

China (X units), Vietnam (X units) and Indonesia (X units) were the main suppliers of motorcycle and scooter imports to South Korea, together comprising X% of total imports.

From 2007 to 2020, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Indonesia (+X% per year), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest motorcycle and scooter suppliers to South Korea were China ($X), Vietnam ($X) and the United States ($X), together comprising X% of total imports. These countries were followed by Thailand, Japan, Indonesia and Taiwan (Chinese), which together accounted for a further X (+X% per year) saw the highest growth rate of 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 motorcycle and scooter import price stood at $X per unit in 2020, rising by X% against the previous year. In general, import price indicated pronounced growth from 2007 to 2020: its price increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, motorcycle and scooter import price decreased by -X% against 2018 indices. The most prominent rate of growth was recorded in 2012 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the peak figure at $X per unit in 2018; however, from 2019 to 2020, import prices failed to regain the momentum.

Prices varied noticeably by the country of origin; 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 2007 to 2020, the most notable rate of growth in terms of prices was attained by Thailand, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform