Republic of Korea: Market for Non-Motorised Hand-Operated Mechanical Floor Sweepers 2024

Market Size for Non-Motorised Hand-Operated Mechanical Floor Sweepers in Republic of Korea

The South Korean mechanical hand floor sweeper market reached $X in 2022, leveling off at the previous year. The market value increased at an average annual rate of +4.8% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Production of Non-Motorised Hand-Operated Mechanical Floor Sweepers in Republic of Korea

In value terms, mechanical hand floor sweeper production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +5.0% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 with an increase of 58% against the previous year. Over the period under review, production attained the maximum level at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Exports of Non-Motorised Hand-Operated Mechanical Floor Sweepers

Exports from Republic of Korea

In 2022, approx. X units of non-motorised hand-operated mechanical floor sweepers were exported from South Korea; shrinking by -12.6% on the previous year. Over the period under review, exports, however, saw mild growth. The most prominent rate of growth was recorded in 2018 with an increase of 114% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2021, and then reduced in the following year.

In value terms, mechanical hand floor sweeper exports reduced to $X in 2022. In general, exports, however, recorded a moderate expansion. The pace of growth was the most pronounced in 2018 when exports increased by 112% against the previous year. Over the period under review, the exports attained the maximum at $X in 2021, and then dropped in the following year.

Exports by Country

The United States (X units), Japan (X units) and Mongolia (X units) were the main destinations of mechanical hand floor sweeper exports from South Korea, together comprising 63% of total exports. China, the Philippines, Russia, Taiwan (Chinese), India, Vietnam, Indonesia, Romania, Thailand and Italy lagged somewhat behind, together accounting for a further 25%.

From 2012 to 2022, the biggest increases were recorded for the Philippines (with a CAGR of +53.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Japan ($X) and Vietnam ($X) constituted the largest markets for mechanical hand floor sweeper exported from South Korea worldwide, with a combined 58% share of total exports. Taiwan (Chinese), China, Indonesia, Russia, India, Mongolia, Romania, the Philippines, Thailand and Italy lagged somewhat behind, together accounting for a further 22%.

In terms of the main countries of destination, the Philippines, with a CAGR of +34.8%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average mechanical hand floor sweeper export price stood at $X per unit in 2022, surging by 2.2% against the previous year. Over the last decade, it increased at an average annual rate of +1.7%. The pace of growth appeared the most rapid in 2013 when the average export price increased by 42% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per unit), while the average price for exports to Mongolia ($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 Vietnam (+11.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Non-Motorised Hand-Operated Mechanical Floor Sweepers

Imports into Republic of Korea

In 2022, overseas purchases of non-motorised hand-operated mechanical floor sweepers decreased by -4.5% to X units for the first time since 2018, thus ending a three-year rising trend. Overall, imports, however, enjoyed a prominent increase. The growth pace was the most rapid in 2017 with an increase of 41%. Imports peaked at X units in 2021, and then shrank slightly in the following year.

In value terms, mechanical hand floor sweeper imports reduced to $X in 2022. Over the period under review, imports, however, showed a prominent expansion. The growth pace was the most rapid in 2017 with an increase of 41% against the previous year. Imports peaked at $X in 2021, and then declined in the following year.

Imports by Country

In 2022, China (X units) was the main supplier of mechanical hand floor sweeper to South Korea, accounting for a approx. 96% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +9.1%.

In value terms, China ($X) constituted the largest supplier of non-motorised hand-operated mechanical floor sweepers to South Korea.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +13.6%.

Import Prices by Country

In 2022, the average mechanical hand floor sweeper import price amounted to $X per unit, reducing by -3.5% against the previous year. Over the last decade, it increased at an average annual rate of +3.0%. The growth pace was the most rapid in 2018 when the average import price increased by 16%. As a result, import price reached the peak level of $X per unit. From 2019 to 2022, the average import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to +4.1% per year.

Source: IndexBox Platform

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