Republic of Korea: Mower Market 2024

Mower Market Size in Republic of Korea

The South Korean mower market rose slightly to $X in 2022, increasing by X% against the previous year. In general, consumption continues to indicate a relatively flat trend pattern. Mower consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Mower Production in Republic of Korea

In value terms, mower production totaled $X in 2022 estimated in export price. In general, production recorded a modest expansion. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, production attained the peak level at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Mower Exports

Exports from Republic of Korea

Mower exports from South Korea was estimated at X units in 2022, increasing by X% compared with 2021 figures. In general, exports continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, mower exports surged to $X in 2022. Overall, exports showed a strong expansion. The pace of growth was the most pronounced in 2019 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Australia (X units), the United States (X units) and Canada (X units) were the main destinations of mower exports from South Korea, with a combined X% share of total exports.

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

In value terms, the United States ($X) remains the key foreign market for mowers exports from South Korea, comprising X% of total exports. The second position in the ranking was taken by Australia ($X), with a X% share of total exports. It was followed by Canada, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (X% per year) and Canada (X% per year).

Export Prices by Country

The average mower export price stood at $X per unit in 2022, with an increase of X% against the previous year. In general, export price indicated a tangible increase 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, mower export price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per unit in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

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

Mower Imports

Imports into Republic of Korea

For the seventh consecutive year, South Korea recorded growth in purchases abroad of mowers, which increased by X% to X units in 2022. In general, imports continue to indicate a prominent expansion. The pace of growth was the most pronounced in 2018 when imports increased by X% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, mower imports rose modestly to $X in 2022. Over the period under review, total imports indicated a prominent expansion from 2012 to 2022: its value 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, imports increased by X% against 2015 indices. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

China (X units), Japan (X units) and the United States (X units) were the main suppliers of mower imports to South Korea, together comprising X% of total imports. France, Germany, Italy, Finland and Denmark lagged somewhat behind, together accounting for a further X%.

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

In value terms, the largest mower suppliers to South Korea were Japan ($X), the United States ($X) and China ($X), together accounting for X% of total imports. France, Germany, Italy, Finland and Denmark lagged somewhat behind, together accounting for a further X%.

Finland, with a CAGR of X%, saw 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

In 2022, the average mower import price amounted to $X per unit, reducing by X% against the previous year. In general, the import price saw a mild reduction. The most prominent rate of growth was recorded in 2016 an increase of X%. Over the period under review, average import prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2022, 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 Japan ($X per unit), while the price for China ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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