Republic of Korea: Market for Non-Numerically Controlled Drilling Machines For Working Metal 2024

Market Size for Non-Numerically Controlled Drilling Machines For Working Metal in Republic of Korea

The South Korean non-numerically controlled drilling machine market surged to $X in 2021, picking up by 16% against the previous year. In general, consumption, however, showed a mild slump. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market failed to regain momentum.

Production of Non-Numerically Controlled Drilling Machines For Working Metal in Republic of Korea

In value terms, non-numerically controlled drilling machine production reduced to $X in 2021 estimated in export price. Overall, production, however, recorded a pronounced downturn. The most prominent rate of growth was recorded in 2020 when the production volume increased by 24% against the previous year. As a result, production attained the peak level of $X, and then declined in the following year.

Exports of Non-Numerically Controlled Drilling Machines For Working Metal

Exports from Republic of Korea

In 2021, approx. X tons of non-numerically controlled drilling machines for working metal were exported from South Korea; falling by -19.4% against 2020. Over the period under review, exports faced a deep setback. The pace of growth was the most pronounced in 2016 with an increase of 7.4%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, non-numerically controlled drilling machine exports reduced to $X in 2021. Overall, exports saw a deep downturn. The most prominent rate of growth was recorded in 2014 when exports increased by 56%. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Japan (X tons), China (X tons) and Vietnam (X tons) were the main destinations of non-numerically controlled drilling machine exports from South Korea, with a combined 65% share of total exports. These countries were followed by Indonesia, the United Arab Emirates, Mexico, Qatar, India and Thailand, which together accounted for a further 27%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Qatar (with a CAGR of +42.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for non-numerically controlled drilling machine exported from South Korea were China ($X), Vietnam ($X) and Japan ($X), together comprising 62% of total exports. These countries were followed by Indonesia, Mexico, the United Arab Emirates, Qatar, India and Thailand, which together accounted for a further 26%.

Qatar, with a CAGR of +51.8%, 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 non-numerically controlled drilling machine export price stood at $X per ton in 2021, increasing by 12% against the previous year. Overall, export price indicated strong growth from 2012 to 2021: its price increased at an average annual rate of +9.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, non-numerically controlled drilling machine export price increased by +61.4% against 2019 indices. The growth pace was the most rapid in 2014 when the average export price increased by 60% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Mexico ($X per ton), while the average price for exports to India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (+6.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Non-Numerically Controlled Drilling Machines For Working Metal

Imports into Republic of Korea

Non-numerically controlled drilling machine imports into South Korea reached X tons in 2021, growing by 4.3% against the previous year's figure. In general, imports, however, saw a abrupt descent. The pace of growth was the most pronounced in 2017 with an increase of 16%. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, non-numerically controlled drilling machine imports fell to $X in 2021. Over the period under review, imports, however, showed a deep slump. The pace of growth was the most pronounced in 2013 with an increase of 13%. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports remained at a lower figure.

Imports by Country

China (X tons), Japan (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of non-numerically controlled drilling machine imports to South Korea, with a combined 99% share of total imports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +3.4%), while purchases for the other leaders experienced a decline.

In value terms, China ($X), Japan ($X) and Taiwan (Chinese) ($X) constituted the largest non-numerically controlled drilling machine suppliers to South Korea, together comprising 88% of total imports.

China, with a CAGR of +4.9%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average non-numerically controlled drilling machine import price amounted to $X per ton, waning by -13.9% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.8%. The most prominent rate of growth was recorded in 2020 an increase of 18%. As a result, import price reached the peak level of $X per ton, and then fell in the following year.

Prices varied noticeably country of origin: the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+29.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :