Republic of Korea: Self-Propelled Bulldozer Market 2024

Self-Propelled Bulldozer Market Size in Republic of Korea

In 2021, after three years of growth, there was significant decline in the South Korean self-propelled bulldozer market, when its value decreased by -18.8% to $X. Over the period under review, consumption saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X, and then reduced notably in the following year.

Self-Propelled Bulldozer Production in Republic of Korea

In value terms, self-propelled bulldozer production dropped modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.2% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2019 when the production volume increased by 2.1%. Over the period under review, production attained the maximum level at $X in 2020, and then contracted modestly in the following year.

Self-Propelled Bulldozer Exports

Exports from Republic of Korea

In 2021, overseas shipments of self-propelled bulldozers and excavators were finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. Overall, total exports indicated moderate growth from 2012 to 2021: its volume increased at an average annual rate of +3.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the exports hit record highs at X units in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, self-propelled bulldozer exports skyrocketed to $X in 2021. Over the period under review, exports saw a relatively flat trend pattern. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Pakistan (X units), Ethiopia (X units) and Myanmar (X units) were the main destinations of self-propelled bulldozer exports from South Korea, together accounting for 51% of total exports.

From 2012 to 2021, the biggest increases were recorded for Pakistan (with a CAGR of +121.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for self-propelled bulldozer exported from South Korea were Ethiopia ($X), Pakistan ($X) and Singapore ($X), with a combined 37% share of total exports.

Pakistan, with a CAGR of +120.3%, 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 self-propelled bulldozer export price stood at $X per unit in 2021, rising by 18% against the previous year. Overall, the export price, however, continues to indicate a noticeable reduction. The growth pace was the most rapid in 2020 an increase of 19%. The export price peaked at $X per unit in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Guyana ($X per unit), while the average price for exports to Myanmar ($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 Singapore (+10.9%), while the prices for the other major destinations experienced more modest paces of growth.

Self-Propelled Bulldozer Imports

Imports into Republic of Korea

In 2021, purchases abroad of self-propelled bulldozers and excavators increased by 67% to X units, rising for the second year in a row after two years of decline. Overall, imports, however, showed a noticeable shrinkage. The growth pace was the most rapid in 2020 with an increase of 500% against the previous year. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, self-propelled bulldozer imports skyrocketed to $X in 2021. Over the period under review, imports, however, showed a abrupt descent. The most prominent rate of growth was recorded in 2020 with an increase of 853% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Indonesia (X units) constituted the largest supplier of self-propelled bulldozer to South Korea, accounting for a 70% share of total imports. Moreover, self-propelled bulldozer imports from Indonesia exceeded the figures recorded by the second-largest supplier, Vietnam (X units), more than tenfold. India (X units) ranked third in terms of total imports with a 6.7% share.

From 2012 to 2021, the average annual growth rate of volume from Indonesia stood at +61.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (-7.4% per year) and India (-11.5% per year).

In value terms, Indonesia ($X) constituted the largest supplier of self-propelled bulldozers and excavators to South Korea, comprising 49% of total imports. The second position in the ranking was taken by Italy ($X), with a 21% share of total imports. It was followed by India, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Indonesia amounted to +118.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+5.0% per year) and India (-15.2% per year).

Import Prices by Country

The average self-propelled bulldozer import price stood at $X per unit in 2021, standing approx. at the previous year. Overall, the import price, however, recorded a abrupt contraction. The pace of growth was the most pronounced in 2018 when the average import price increased by 98% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per unit), while the price for France ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+29.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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