Republic of Korea: Market for Snow-Ploughs And Snow-Blowers 2025

Market Size for Snow-Ploughs And Snow-Blowers in Republic of Korea

The South Korean snow ploughs and blowers market fell to $X in 2022, declining by -5.7% against the previous year. In general, consumption saw a mild reduction. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Production of Snow-Ploughs And Snow-Blowers in Republic of Korea

In value terms, snow ploughs and blowers production dropped to $X in 2022 estimated in export price. Over the period under review, production recorded a mild contraction. The most prominent rate of growth was recorded in 2013 with an increase of 104% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Exports of Snow-Ploughs And Snow-Blowers

Exports from Republic of Korea

In 2022, the amount of snow-ploughs and snow-blowers exported from South Korea contracted sharply to X units, waning by -98.4% compared with 2021. In general, exports recorded a precipitous setback. The most prominent rate of growth was recorded in 2019 when exports increased by 528%. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, snow ploughs and blowers exports reduced rapidly to $X in 2022. Over the period under review, exports recorded a sharp descent. The pace of growth appeared the most rapid in 2021 when exports increased by 1,714%. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Canada (X units) was the main destination for snow ploughs and blowers exports from South Korea, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Canada amounted to -40.7%.

In value terms, Canada ($X) emerged as the key foreign market for snow-ploughs and snow-blowers exports from South Korea.

From 2012 to 2022, the average annual rate of growth in terms of value to Canada totaled -54.8%.

Export Prices by Country

The average snow ploughs and blowers export price stood at $X per unit in 2022, shrinking by -93.7% against the previous year. Over the period under review, the export price recorded a sharp slump. The pace of growth appeared the most rapid in 2018 an increase of 361% against the previous year. The export price peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Canada.

From 2012 to 2022, the rate of growth in terms of prices for Nigeria amounted to +29.0% per year.

Imports of Snow-Ploughs And Snow-Blowers

Imports into Republic of Korea

In 2022, purchases abroad of snow-ploughs and snow-blowers increased by 41% to X units, rising for the second consecutive year after two years of decline. Overall, imports, however, recorded a perceptible curtailment. The pace of growth appeared the most rapid in 2021 when imports increased by 176%. Over the period under review, imports reached the maximum at X units in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, snow ploughs and blowers imports dropped modestly to $X in 2022. In general, imports, however, showed a deep contraction. The growth pace was the most rapid in 2021 when imports increased by 82%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the United States (X units) constituted the largest supplier of snow ploughs and blowers to South Korea, with a 53% share of total imports. Moreover, snow ploughs and blowers imports from the United States exceeded the figures recorded by the second-largest supplier, China (X units), twofold. Austria (X units) ranked third in terms of total imports with a 6.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States amounted to +1.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-5.7% per year) and Austria (+10.4% per year).

In value terms, the United States ($X), Austria ($X) and China ($X) were the largest snow ploughs and blowers suppliers to South Korea, with a combined 87% share of total imports.

Austria, with a CAGR of +11.1%, saw the highest rates of growth with regard to 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

In 2022, the average snow ploughs and blowers import price amounted to $X per unit, dropping by -32.6% against the previous year. In general, the import price saw a abrupt shrinkage. The growth pace was the most rapid in 2017 an increase of 38% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+7.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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