Republic of Korea: Static Converter Market 2025

Static Converter Market Size in Republic of Korea

In 2021, the South Korean static converter market decreased by -13.9% to $X for the first time since 2018, thus ending a two-year rising trend. Overall, consumption showed a perceptible downturn. Static converter consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Static Converter Production in Republic of Korea

In value terms, static converter production declined dramatically to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a abrupt descent. The most prominent rate of growth was recorded in 2020 when the production volume increased by 950% against the previous year. Static converter production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Static Converter Exports

Exports from Republic of Korea

In 2021, the amount of static converters exported from South Korea surged to X units, rising by 39% compared with the previous year's figure. In general, exports, however, recorded a perceptible shrinkage. The exports peaked at X units in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, static converter exports skyrocketed to $X in 2021. Overall, total exports indicated a temperate expansion from 2012 to 2021: its value increased at an average annual rate of +3.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +124.6% against 2016 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Oman (X units) was the main destination for static converter exports from South Korea, with a 142% share of total exports. It was followed by Myanmar (X units), with a 3.4% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Oman amounted to +205.2%.

In value terms, Oman ($X) emerged as the key foreign market for static converters exports from South Korea, comprising 53% of total exports. The second position in the ranking was taken by Myanmar ($X), with an 8.5% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Oman totaled +186.2%.

Export Prices by Country

The average static converter export price stood at $X per unit in 2021, with an increase of 8.5% against the previous year. In general, the export price recorded buoyant growth. The pace of growth appeared the most rapid in 2020 an increase of 71% against the previous year. The export price peaked in 2021 and is likely to see steady growth in years to come.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Myanmar ($X per unit), while the average price for exports to Oman stood at $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+29.0%), while the prices for the other major destinations experienced more modest paces of growth.

Static Converter Imports

Imports into Republic of Korea

In 2021, approx. X units of static converters were imported into South Korea; leveling off at 2020 figures. Over the period under review, imports, however, recorded a perceptible descent. The growth pace was the most rapid in 2014 with an increase of 11% against the previous year. Over the period under review, imports attained the peak figure at X units in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, static converter imports soared to $X in 2021. The total import value increased at an average annual rate of +2.6% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X units) was the main static converter supplier to South Korea, with a 100% share of total imports. Moreover, static converter imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), more than tenfold. The third position in this ranking was held by Hong Kong SAR (X units), with a 2.9% share.

From 2012 to 2021, the average annual growth rate of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+3.2% per year) and Hong Kong SAR (-8.5% per year).

In value terms, China ($X) constituted the largest supplier of static converters to South Korea, comprising 38% of total imports. The second position in the ranking was taken by Germany ($X), with an 11% share of total imports. It was followed by Japan, with a 9% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +2.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+6.7% per year) and Japan (+0.8% per year).

Import Prices by Country

In 2021, the average static converter import price amounted to $X per unit, rising by 34% against the previous year. Over the period under review, import price indicated a remarkable increase from 2012 to 2021: its price increased at an average annual rate of +5.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, static converter import price increased by +63.6% against 2017 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Germany ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+24.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :