Republic of Korea: Remote Control Apparatus Market 2025

Remote Control Apparatus Market Size in Republic of Korea

The South Korean remote control apparatus market shrank to $X in 2021, with a decrease of -10.6% against the previous year. Overall, consumption recorded a deep slump. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Remote Control Apparatus Production in Republic of Korea

In value terms, remote control apparatus production surged to $X in 2021 estimated in export price. In general, production, however, continues to indicate a sharp setback. The pace of growth was the most pronounced in 2016 when the production volume increased by 66%. Remote control apparatus production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Remote Control Apparatus Exports

Exports from Republic of Korea

After four years of decline, overseas shipments of radio remote control apparatus increased by 12% to X tons in 2021. Overall, exports, however, continue to indicate a deep downturn. The growth pace was the most rapid in 2016 when exports increased by 91% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2021, the growth of the exports remained at a lower figure.

In value terms, remote control apparatus exports rose sharply to $X in 2021. Over the period under review, exports, however, saw a slight shrinkage. The pace of growth appeared the most rapid in 2016 when exports increased by 104% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for remote control apparatus exports from South Korea, with a 35% share of total exports. Moreover, remote control apparatus exports to the United States exceeded the volume sent to the second major destination, Poland (X tons), threefold. China (X tons) ranked third in terms of total exports with a 10% share.

From 2012 to 2021, the average annual growth rate of volume to the United States stood at -12.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (-1.5% per year) and China (+2.6% per year).

In value terms, the United States ($X) remains the key foreign market for radio remote control apparatus exports from South Korea, comprising 37% of total exports. The second position in the ranking was held by China ($X), with an 11% share of total exports. It was followed by Poland, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States stood at -5.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+12.7% per year) and Poland (-2.2% per year).

Export Prices by Country

The average remote control apparatus export price stood at $X per ton in 2021, reducing by -1.5% against the previous year. Overall, the export price, however, continues to indicate a remarkable increase. The most prominent rate of growth was recorded in 2017 when the average export price increased by 34%. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was the Czech Republic ($X per ton), while the average price for exports to Vietnam ($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 Germany (+33.1%), while the prices for the other major destinations experienced more modest paces of growth.

Remote Control Apparatus Imports

Imports into Republic of Korea

In 2021, purchases abroad of radio remote control apparatus decreased by -1.2% to X tons, falling for the second year in a row after three years of growth. Overall, total imports indicated noticeable growth from 2012 to 2021: its volume increased at an average annual rate of +4.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -9.7% against 2019 indices. The most prominent rate of growth was recorded in 2019 with an increase of 32% against the previous year. As a result, imports reached the peak of X tons. From 2020 to 2021, the growth of imports remained at a lower figure.

In value terms, remote control apparatus imports totaled $X in 2021. Over the period under review, imports, however, posted a buoyant expansion. The pace of growth was the most pronounced in 2014 with an increase of 69%. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

China (X tons), the United States (X tons) and France (X tons) were the main suppliers of remote control apparatus imports to South Korea, with a combined 80% share of total imports. The UK, Vietnam, Taiwan (Chinese), Germany and Indonesia lagged somewhat behind, together comprising a further 18%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of +194.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest remote control apparatus suppliers to South Korea were the United States ($X), China ($X) and Vietnam ($X), with a combined 81% share of total imports.

Among the main suppliers, Vietnam, with a CAGR of +219.8%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average remote control apparatus import price amounted to $X per ton, growing by 3.8% against the previous year. Over the period under review, import price indicated a prominent increase from 2012 to 2021: its price increased at an average annual rate of +9.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, remote control apparatus import price decreased by -10.8% against 2019 indices. The growth pace was the most rapid in 2014 when the average import price increased by 96%. Over the period under review, average import prices reached the peak figure at $X per ton in 2019; however, from 2020 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 Germany ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+13.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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