Republic of Korea: Transmission Apparatus Market 2025

Transmission Apparatus Market Size in Republic of Korea

After two years of decline, the South Korean transmission apparatus market increased by 32% to $X in 2021. Overall, consumption, however, showed a abrupt decline. Transmission apparatus consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Transmission Apparatus Production in Republic of Korea

In value terms, transmission apparatus production expanded markedly to $X in 2021 estimated in export price. Overall, production, however, faced a abrupt descent. The most prominent rate of growth was recorded in 2019 with an increase of 26% against the previous year. Transmission apparatus production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Transmission Apparatus Exports

Exports from Republic of Korea

After eight years of decline, overseas shipments of transmission apparatus incorporating reception apparatus increased by 26% to X tons in 2021. Overall, exports, however, recorded a sharp decrease. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, transmission apparatus exports surged to $X in 2021. In general, exports, however, saw a deep reduction. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for transmission apparatus exports from South Korea, accounting for a 44% share of total exports. Moreover, transmission apparatus exports to the United States exceeded the volume sent to the second major destination, India (X tons), tenfold. Vietnam (X tons) ranked third in terms of total exports with a 4.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at -18.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (-1.2% per year) and Vietnam (+17.4% per year).

In value terms, the United States ($X) remains the key foreign market for transmission apparatus incorporating reception apparatus exports from South Korea, comprising 32% of total exports. The second position in the ranking was held by Germany ($X), with a 7.4% share of total exports. It was followed by the UK, with a 7.4% share.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to -8.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-3.5% per year) and the UK (+1.0% per year).

Export Prices by Country

In 2021, the average transmission apparatus export price amounted to $X per ton, surging by 34% against the previous year. In general, the export price posted a buoyant expansion. The pace of growth appeared the most rapid in 2016 when the average export price increased by 67% against the previous year. The export price peaked in 2021 and is likely to see steady growth in the near future.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Japan ($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 Germany (+20.8%), while the prices for the other major destinations experienced more modest paces of growth.

Transmission Apparatus Imports

Imports into Republic of Korea

In 2021, after three years of decline, there was significant growth in supplies from abroad of transmission apparatus incorporating reception apparatus, when their volume increased by 69% to X tons. Overall, imports enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2013 with an increase of 1,279%. Over the period under review, imports reached the peak figure at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, transmission apparatus imports surged to $X in 2021. In general, imports enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2013 when imports increased by 993% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Vietnam (X tons), China (X tons) and the United States (X tons) were the main suppliers of transmission apparatus imports to South Korea, with a combined 60% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of +185.0%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest transmission apparatus suppliers to South Korea were China ($X), Vietnam ($X) and the United States ($X), with a combined 69% share of total imports.

In terms of the main suppliers, Vietnam, with a CAGR of +173.2%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average transmission apparatus import price stood at $X per ton in 2021, with a decrease of -4.8% against the previous year. In general, the import price continues to indicate a mild downturn. The pace of growth appeared the most rapid in 2020 an increase of 17%. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+9.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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