Republic of Korea: Skis Market 2024

Skis Market Size in Republic of Korea

The South Korean skis market contracted dramatically to $X in 2021, with a decrease of -35.7% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption continues to indicate a pronounced reduction. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market remained at a lower figure.

Skis Exports

Exports from Republic of Korea

In 2021, shipments abroad of skis for winter sports increased by 61% to X tons, rising for the second consecutive year after two years of decline. In general, exports showed noticeable growth. The growth pace was the most rapid in 2015 when exports increased by 241%. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, skis exports rose notably to $X in 2021. Over the period under review, exports enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2015 when exports increased by 241% against the previous year. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

China (X tons), Estonia (X kg) and Japan (X kg) were the main destinations of skis exports from South Korea, with a combined 84% share of total exports. The United States, Austria, Italy, Qatar and the UK lagged somewhat behind, together accounting for a further 10%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Austria (with a CAGR of +28.5%), while the other leaders experienced more modest paces of growth.

In value terms, Estonia ($X), China ($X) and Japan ($X) constituted the largest markets for skis exported from South Korea worldwide, with a combined 81% share of total exports. The United States, Austria, Qatar, Italy and the UK lagged somewhat behind, together accounting for a further 8.6%.

In terms of the main countries of destination, Italy, with a CAGR of +60.5%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average skis export price stood at $X per ton in 2021, dropping by -31.6% against the previous year. Overall, the export price, however, enjoyed a resilient increase. The pace of growth appeared the most rapid in 2016 when the average export price increased by 58%. The export price peaked at $X per ton in 2020, and then declined rapidly in the following year.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was the UK ($X per ton), while the average price for exports to Italy ($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 Italy (+26.5%), while the prices for the other major destinations experienced more modest paces of growth.

Skis Imports

Imports into Republic of Korea

In 2021, overseas purchases of skis for winter sports decreased by -44.7% to X tons, falling for the third consecutive year after two years of growth. In general, imports saw a abrupt decrease. The most prominent rate of growth was recorded in 2014 when imports increased by 25%. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, skis imports contracted notably to $X in 2021. Overall, imports saw a noticeable setback. The growth pace was the most rapid in 2014 with an increase of 20%. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Austria (X tons), Germany (X tons) and China (X tons) were the main suppliers of skis imports to South Korea, together accounting for 24% of total imports. These countries were followed by Bulgaria, the Czech Republic, Taiwan (Chinese), France, Japan, Slovenia and Ukraine, which together accounted for a further 27%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Czech Republic (with a CAGR of +18.9%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest skis suppliers to South Korea were Austria ($X), Germany ($X) and China ($X), together accounting for 24% of total imports. Japan, France, the Czech Republic, Taiwan (Chinese), Bulgaria, Slovenia and Ukraine lagged somewhat behind, together accounting for a further 24%.

The Czech Republic, with a CAGR of +20.5%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average skis import price stood at $X per ton in 2021, with an increase of 25% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.7%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was Japan ($X per ton), while the price for Bulgaria ($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 (+11.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :