Republic of Korea: Non-Numerically Controlled Lathe Market 2025

Non-Numerically Controlled Lathe Market Size in Republic of Korea

The South Korean non-numerically controlled lathe market soared to $X in 2021, with an increase of 113% against the previous year. Overall, consumption continues to indicate moderate growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Non-Numerically Controlled Lathe Production in Republic of Korea

In value terms, non-numerically controlled lathe production reached $X in 2021 estimated in export price. In general, production, however, faced a deep downturn. The pace of growth was the most pronounced in 2019 with an increase of 53% against the previous year. Non-numerically controlled lathe production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Non-Numerically Controlled Lathe Exports

Exports from Republic of Korea

In 2021, overseas shipments of non-numerically controlled horizontal lathes, for removing metal decreased by -49.7% to X units, falling for the second year in a row after two years of growth. Overall, exports showed a significant contraction. The pace of growth was the most pronounced in 2016 with an increase of 292%. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, non-numerically controlled lathe exports dropped slightly to $X in 2021. In general, exports recorded a abrupt decline. The growth pace was the most rapid in 2018 when exports increased by 370% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Vietnam (X units), the United Arab Emirates (X units) and Turkey (X units) were the main destinations of non-numerically controlled lathe exports from South Korea, with a combined 61% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Turkey (with a CAGR of +36.9%), while the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) remains the key foreign market for non-numerically controlled horizontal lathes, for removing metal exports from South Korea, comprising 30% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 14% share of total exports. It was followed by Vietnam, with a 9% share.

From 2012 to 2021, the average annual growth rate of value to Turkey totaled +36.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+22.9% per year) and Vietnam (-14.3% per year).

Export Prices by Country

In 2021, the average non-numerically controlled lathe export price amounted to $X per unit, surging by 91% against the previous year. Overall, the export price showed pronounced growth. The pace of growth was the most pronounced in 2013 an increase of 117% 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 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Turkey ($X per unit), while the average price for exports to Japan ($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 the United Arab Emirates (+14.3%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Numerically Controlled Lathe Imports

Imports into Republic of Korea

In 2021, purchases abroad of non-numerically controlled horizontal lathes, for removing metal was finally on the rise to reach X units for the first time since 2017, thus ending a three-year declining trend. Over the period under review, imports, however, recorded a perceptible decrease. The growth pace was the most rapid in 2017 with an increase of 69%. Over the period under review, non-numerically controlled laimports hit record highs at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, non-numerically controlled lathe imports totaled $X in 2021. Overall, imports, however, showed a deep contraction. The pace of growth was the most pronounced in 2017 when imports increased by 71% against the previous year. Over the period under review, non-numerically controlled laimports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest non-numerically controlled lathe supplier to South Korea, with a 82% share of total imports. Moreover, non-numerically controlled lathe imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume from China amounted to -2.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-5.8% per year) and Japan (-19.1% per year).

In value terms, China ($X) constituted the largest supplier of non-numerically controlled horizontal lathes, for removing metal to South Korea, comprising 66% of total imports. The second position in the ranking was held by Japan ($X), with a 17% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at -12.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-19.2% per year) and Germany (-21.6% per year).

Import Prices by Country

In 2021, the average non-numerically controlled lathe import price amounted to $X per unit, picking up by 5.6% against the previous year. Over the period under review, the import price, however, continues to indicate a deep downturn. Over the period under review, average import prices hit record highs at $X per unit in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, 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 2021, the most notable rate of growth in terms of prices was attained by Japan (-0.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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