Republic of Korea: Market for Non-Electronic Hydro-, Hygro-, Psychrometers 2025

Market Size for Non-Electronic Hydro-, Hygro-, Psychrometers in Republic of Korea

The South Korean non-electronic hydro- and hygrometers market amounted to $X in 2021, picking up by 2.5% against the previous year. Overall, consumption, however, recorded a pronounced reduction. Non-electronic hydro- and hygrometers consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Production of Non-Electronic Hydro-, Hygro-, Psychrometers in Republic of Korea

In value terms, non-electronic hydro- and hygrometers production skyrocketed to $X in 2021 estimated in export price. In general, production, however, saw a perceptible decline. The pace of growth appeared the most rapid in 2017 with an increase of 52% against the previous year. Non-electronic hydro- and hygrometers production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Non-Electronic Hydro-, Hygro-, Psychrometers

Exports from Republic of Korea

In 2021, shipments abroad of non-electronic hydro-, hygro-, psychrometers was finally on the rise to reach X units after two years of decline. Overall, exports enjoyed strong growth. The most prominent rate of growth was recorded in 2017 with an increase of 106% against the previous year. The exports peaked at X units in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, non-electronic hydro- and hygrometers exports soared to $X in 2021. Over the period under review, exports continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2017 with an increase of 317% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

China (X units) was the main destination for non-electronic hydro- and hygrometers exports from South Korea, with a 34% share of total exports. Moreover, non-electronic hydro- and hygrometers exports to China exceeded the volume sent to the second major destination, the Czech Republic (X units), twofold. The third position in this ranking was held by Mexico (X units), with a 9.6% share.

From 2012 to 2021, the average annual growth rate of volume to China stood at +19.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Czech Republic (+104.8% per year) and Mexico (+76.7% per year).

In value terms, China ($X), Mexico ($X) and Vietnam ($X) appeared to be the largest markets for non-electronic hydro- and hygrometers exported from South Korea worldwide, with a combined 65% share of total exports.

Mexico, with a CAGR of +83.4%, recorded the highest growth rate of the value of exports, in terms of 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 non-electronic hydro- and hygrometers export price stood at $X per unit in 2021, falling by -5.1% against the previous year. In general, export price indicated notable growth from 2012 to 2021: its price increased at an average annual rate of +3.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, non-electronic hydro- and hygrometers export price increased by +13.8% against 2019 indices. The pace of growth was the most pronounced in 2017 when the average export price increased by 102%. As a result, the export price reached the peak level of $X per unit. From 2018 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Guatemala ($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 Vietnam (+21.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Non-Electronic Hydro-, Hygro-, Psychrometers

Imports into Republic of Korea

In 2021, supplies from abroad of non-electronic hydro-, hygro-, psychrometers increased by 14% to X units, rising for the second consecutive year after two years of decline. Over the period under review, imports posted a resilient expansion. The pace of growth appeared the most rapid in 2013 when imports increased by 77% against the previous year. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in years to come.

In value terms, non-electronic hydro- and hygrometers imports rose remarkably to $X in 2021. In general, imports enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 74%. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest supplier of non-electronic hydro- and hygrometers to South Korea, with a 71% share of total imports. Moreover, non-electronic hydro- and hygrometers imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), more than tenfold. The United States (X units) ranked third in terms of total imports with a 3.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +33.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+7.6% per year) and the United States (+3.6% per year).

In value terms, China ($X) constituted the largest supplier of non-electronic hydro-, hygro-, psychrometers to South Korea, comprising 33% of total imports. The second position in the ranking was held by Finland ($X), with a 14% share of total imports. It was followed by the United States, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +41.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Finland (+37.7% per year) and the United States (+9.9% per year).

Import Prices by Country

In 2021, the average non-electronic hydro- and hygrometers import price amounted to $X per unit, falling by -5.2% against the previous year. Over the period under review, the import price showed a noticeable descent. The pace of growth appeared the most rapid in 2017 an increase of 25% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Finland ($X per unit), while the price for Turkey ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+18.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :