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Report Republic of Korea - Side Cars for Motorcycles & Cycles With Auxiliary Motors - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Jan 1, 2025

Republic of Korea - Side Cars for Motorcycles & Cycles With Auxiliary Motors - Market Analysis, Forecast, Size, Trends and Insights

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Republic of Korea: Market for Cycles with Auxiliary Motors and Side Cars 2025

Market Size for Cycles with Auxiliary Motors and Side Cars in Republic of Korea

In 2021, the South Korean market for cycles with auxiliary motors and side cars decreased by -4.7% to $X for the first time since 2016, thus ending a four-year rising trend. Overall, consumption enjoyed significant growth. Consumption of peaked at $X in 2020, and then dropped modestly in the following year.

Exports of Cycles with Auxiliary Motors and Side Cars

Exports from Republic of Korea

After two years of growth, shipments abroad of cycles with auxiliary motors and side cars decreased by -11% to X units in 2021. In general, exports, however, posted a significant expansion. The pace of growth was the most pronounced in 2020 when exports increased by 1,047%. As a result, the exports attained the peak of X units, and then contracted in the following year.

In value terms, exports of cycles with auxiliary motors and side cars contracted to $X in 2021. Over the period under review, exports, however, recorded a significant expansion. The growth pace was the most rapid in 2020 with an increase of 651%. As a result, the exports reached the peak of $X, and then declined in the following year.

Exports by Country

Germany (X units) was the main destination for exports of cycles with auxiliary motors and side cars from South Korea, with a 42% share of total exports. Moreover, exports of cycles with auxiliary motors and side cars to Germany exceeded the volume sent to the second major destination, Denmark (X units), threefold. The third position in this ranking was taken by the UK (X units), with a 7.6% share.

From 2012 to 2021, the average annual growth rate of volume to Germany stood at +83.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (+131.8% per year) and the UK (+146.2% per year).

In value terms, Germany ($X) remains the key foreign market for cycles with auxiliary motors and side cars exports from South Korea, comprising 44% of total exports. The second position in the ranking was taken by Denmark ($X), with a 12% share of total exports. It was followed by Spain, with an 8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Germany amounted to +163.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (+105.7% per year) and Spain (+102.2% per year).

Export Prices by Country

The average export price for cycles with auxiliary motors and side cars stood at $X per unit in 2021, waning by -4.1% against the previous year. Overall, the export price continues to indicate a perceptible slump. The pace of growth was the most pronounced in 2013 when the average export price increased by 69%. The export price peaked at $X per unit in 2016; however, from 2017 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, amid the top suppliers, the country with the highest price was Sweden ($X per unit), while the average price for exports to Israel ($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 Malaysia (+39.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Cycles with Auxiliary Motors and Side Cars

Imports into Republic of Korea

In 2021, overseas purchases of cycles with auxiliary motors and side cars increased by 0.3% to X units, rising for the fourth consecutive year after two years of decline. Overall, imports continue to indicate significant growth. The most prominent rate of growth was recorded in 2015 with an increase of 219%. Over the period under review, imports of reached the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, imports of cycles with auxiliary motors and side cars dropped dramatically to $X in 2021. In general, imports showed significant growth. The pace of growth appeared the most rapid in 2015 with an increase of 149%. Over the period under review, imports of reached the maximum at $X in 2020, and then shrank sharply in the following year.

Imports by Country

In 2021, China (X units) was the main supplier of cycle with auxiliary motor and side car to South Korea, with a approx. 99% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from China totaled +57.8%.

In value terms, China ($X) constituted the largest supplier of cycles with auxiliary motors and side cars to South Korea.

From 2012 to 2021, the average annual growth rate of value from China amounted to +44.6%.

Import Prices by Country

In 2021, the average import price for cycles with auxiliary motors and side cars amounted to $X per unit, which is down by -15.6% against the previous year. Overall, the import price showed a deep slump. The pace of growth appeared the most rapid in 2016 an increase of 148% against the previous year. Over the period under review, average import prices reached the peak figure at $X per unit in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the rate of growth in terms of prices for China amounted to -8.4% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

The countries with the highest volumes of consumption of cycles with auxiliary motors and side cars in 2020 were the United States, Germany and China, with a combined 32% share of global consumption. France, Pakistan, Japan, the Netherlands, Canada, Belgium, Spain, Turkey, the UK and the Philippines lagged somewhat behind, together accounting for a further 32%.
The country with the largest volume of production of cycles with auxiliary motors and side cars was China, comprising approx. 61% of total volume. Moreover, production of cycles with auxiliary motors and side cars in China exceeded the figures recorded by the second-largest producer, the United States, sevenfold. The third position in this ranking was occupied by Pakistan, with a 3.4% share.
In value terms, China constituted the largest supplier of cycle with auxiliary motor and side car to South Korea.
In value terms, Germany remains the key foreign market for cycle with auxiliary motor and side car exports from South Korea, comprising 55% of total exports. The second position in the ranking was occupied by Sweden, with an 8.6% share of total exports. It was followed by Denmark, with a 7% share.
In 2020, the average export price for cycles with auxiliary motors and side cars amounted to $757 per unit, dropping by -19.2% against the previous year.
The average import price for cycles with auxiliary motors and side cars stood at $366 per unit in 2020, approximately equating the previous year.

This report provides an in-depth analysis of the market for cycle with auxiliary motor and side car in Republic of Korea. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • Prodcom 30911300 - Side cars for motorcycles, cycles with auxiliary motors other than reciprocating internal combustion piston engine

Country coverage:

  • South Korea

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in Republic of Korea
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2024
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2024
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. LIST OF TABLES

    1. Key Findings In 2024
    2. Market Volume, In Physical Terms, 2012–2024
    3. Market Value, 2012–2024
    4. Per Capita Consumption In 2012-2024
    5. Imports, In Physical Terms, By Country, 2012–2024
    6. Imports, In Value Terms, By Country, 2012–2024
    7. Import Prices, By Country Of Origin, 2012–2024
    8. Exports, In Physical Terms, By Country, 2012–2024
    9. Exports, In Value Terms, By Country, 2012–2024
    10. Export Prices, By Country Of Destination, 2012–2024

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2024
    2. Market Value, 2012–2024
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
    5. Trade Balance, In Physical Terms, 2012-2024
    6. Trade Balance, In Value Terms, 2012-2024
    7. Per Capita Consumption, 2012-2024
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    14. Production Volume And Growth
    15. Exports And Growth
    16. Export Prices And Growth
    17. Market Size And Growth
    18. Per Capita Consumption
    19. Imports And Growth
    20. Import Prices
    21. Production, In Physical Terms, 2012–2024
    22. Production, In Value Terms, 2012–2024
    23. Imports, In Physical Terms, 2012–2024
    24. Imports, In Value Terms, 2012–2024
    25. Imports, In Physical Terms, By Country, 2024
    26. Imports, In Physical Terms, By Country, 2012–2024
    27. Imports, In Value Terms, By Country, 2012–2024
    28. Import Prices, By Country Of Origin, 2012–2024
    29. Exports, In Physical Terms, 2012–2024
    30. Exports, In Value Terms, 2012–2024
    31. Exports, In Physical Terms, By Country, 2024
    32. Exports, In Physical Terms, By Country, 2012–2024
    33. Exports, In Value Terms, By Country, 2012–2024
    34. Export Prices, By Country Of Destination, 2012–2024

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