Report Update Feb 1, 2025

Republic of Korea - Vehicles not Mechanically Propelled - Market Analysis, Forecast, Size, Trends and Insights

Single report

Sent by email within 24h (Mon-Fri)

$599 Basic Edition

$2095 Professional Edition

What's the difference?

Subscription

Online access and download

from $350/month

Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.

View Pricing

Republic of Korea: Non-Propelled Vehicle Market 2025

Non-Propelled Vehicle Market Size in Republic of Korea

The South Korean non-propelled vehicle market skyrocketed to $X in 2021, with an increase of 33% against the previous year. Over the period under review, consumption recorded a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Non-Propelled Vehicle Production in Republic of Korea

In value terms, non-propelled vehicle production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production, however, showed a deep slump. Non-propelled vehicle production peaked at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Non-Propelled Vehicle Exports

Exports from Republic of Korea

After two years of decline, overseas shipments of vehicles not mechanically propelled increased by 5.2% to X units in 2021. In general, exports showed resilient growth. The most prominent rate of growth was recorded in 2018 when exports increased by 75%. As a result, the exports reached the peak of X units. From 2019 to 2021, the growth of the exports remained at a lower figure.

In value terms, non-propelled vehicle exports expanded slightly to $X in 2021. Over the period under review, exports showed buoyant growth. The pace of growth appeared the most rapid in 2018 with an increase of 73% against the previous year. The exports peaked in 2021 and are expected to retain growth in the near future.

Exports by Country

China (X units) was the main destination for non-propelled vehicle exports from South Korea, accounting for a 37% share of total exports. Moreover, non-propelled vehicle exports to China exceeded the volume sent to the second major destination, Japan (X units), twofold. Taiwan (Chinese) (X units) ranked third in terms of total exports with an 8% share.

From 2012 to 2021, the average annual growth rate of volume to China totaled +28.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+8.5% per year) and Taiwan (Chinese) (+2.0% per year).

In value terms, China ($X), Japan ($X) and the United States ($X) were the largest markets for non-propelled vehicle exported from South Korea worldwide, together accounting for 52% of total exports. Hong Kong SAR, Hungary, Vietnam and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 16%.

Hungary, with a CAGR of +287.5%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average non-propelled vehicle export price amounted to $X per unit, leveling off at the previous year. In general, the export price, however, recorded a perceptible expansion. The most prominent rate of growth was recorded in 2020 an increase of 72% against the previous year. As a result, the export price reached the peak level of $X per unit, leveling off in the following year.

Prices varied noticeably country of destination: the country with the highest price was the United States ($X per unit), while the average price for exports to Taiwan (Chinese) ($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 Hungary (+32.5%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Propelled Vehicle Imports

Imports into Republic of Korea

In 2021, non-propelled vehicle imports into South Korea expanded notably to X units, with an increase of 6.6% against 2020 figures. Overall, imports recorded a significant increase. The growth pace was the most rapid in 2020 when imports increased by 116%. Imports peaked in 2021 and are expected to retain growth in the near future.

In value terms, non-propelled vehicle imports expanded significantly to $X in 2021. In general, imports saw a prominent expansion. The pace of growth appeared the most rapid in 2015 with an increase of 71%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, China (X units) was the main non-propelled vehicle supplier to South Korea, accounting for a approx. 96% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +22.6%.

In value terms, China ($X) constituted the largest supplier of non-propelled vehicle to South Korea.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +20.0%.

Import Prices by Country

In 2021, the average non-propelled vehicle import price amounted to $X per unit, with an increase of 5.1% against the previous year. Over the period under review, the import price, however, saw a pronounced contraction. The pace of growth appeared the most rapid in 2016 an increase of 26% against the previous year. Over the period under review, average import prices reached the maximum at $X per unit in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

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 -2.1% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for vehicles not mechanically propelled in the world?

The countries with the highest volumes of in 2021 were China, the United States and India, together comprising 44% of global consumption. Russia, Brazil, the UK, Italy, Germany, Japan, Mexico, South Korea, Thailand and France lagged somewhat behind, together comprising a further 28%.

What are the largest producers of vehicles not mechanically propelled in the world?

China constituted the country with the largest volume of non-propelled vehicle production, comprising approx. 58% of total volume. Moreover, non-propelled vehicle production in China exceeded the figures recorded by the second-largest producer, India, sixfold. Brazil ranked third in terms of total production with a 3.8% share.

What are the leading suppliers of vehicles not mechanically propelled to Republic of Korea?

In value terms, China constituted the largest supplier of non-propelled vehicle to South Korea.

What are the leading importers of vehicles not mechanically propelled from Republic of Korea?

In value terms, China remains the key foreign market for non-propelled vehicle exports from South Korea, comprising 30% of total exports. The second position in the ranking was occupied by Japan, with a 15% share of total exports. It was followed by the United States, with a 9.7% share.

What is the average export price for vehicles not mechanically propelled in Republic of Korea?

The average non-propelled vehicle export price stood at $91 per unit in 2021, shrinking by -13.8% against the previous year.

What is the average import price for vehicles not mechanically propelled in Republic of Korea?

In 2021, the average non-propelled vehicle import price amounted to $24 per unit, growing by 27% against the previous year.

This report provides an in-depth analysis of the non-propelled vehicle market 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 30991000 - Vehicles not mechanically propelled including industry trolleys, barrows, luggage trucks, hopper-trucks, hand pulled golf trolleys excluding shopping trolleys

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:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
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. 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. 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. 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. 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. 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. 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. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2024
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2024
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
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
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