Republic of Korea: Video Projector Market 2024

Video Projector Market Size in Republic of Korea

In 2021, the South Korean video projector market increased by 25% to $X, rising for the third year in a row after four years of decline. In general, consumption showed a prominent increase. Over the period under review, the market attained the peak level in 2021 and is likely to see gradual growth in years to come.

Video Projector Exports

Exports from Republic of Korea

Video projector exports from South Korea soared to X units in 2021, picking up by 25% against the previous year's figure. In general, exports enjoyed noticeable growth. The pace of growth appeared the most rapid in 2016 with an increase of 112%. Over the period under review, the exports attained the peak figure at X units in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, video projector exports dropped to $X in 2021. Overall, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of 41%. As a result, the exports reached the peak of $X. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States (X units) was the main destination for video projector exports from South Korea, accounting for a 47% share of total exports. Moreover, video projector exports to the United States exceeded the volume sent to the second major destination, Japan (X units), more than tenfold. The third position in this ranking was held by Singapore (X units), with a 1.1% share.

From 2012 to 2021, the average annual growth rate of volume to the United States amounted to +23.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-3.4% per year) and Singapore (-1.8% per year).

In value terms, the United States ($X) remains the key foreign market for video projectors exports from South Korea, comprising 78% of total exports. The second position in the ranking was taken by Japan ($X), with a 3.2% share of total exports. It was followed by China, with a 0.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States stood at +20.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-9.0% per year) and China (-4.4% per year).

Export Prices by Country

The average video projector export price stood at $X per unit in 2021, falling by -30.8% against the previous year. Overall, the export price continues to indicate a perceptible contraction. The most prominent rate of growth was recorded in 2019 an increase of 166%. The export price peaked at $X per unit in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while the average price for exports to Singapore ($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 the United Arab Emirates (+11.5%), while the prices for the other major destinations experienced mixed trend patterns.

Video Projector Imports

Imports into Republic of Korea

For the third year in a row, South Korea recorded growth in supplies from abroad of video projectors, which increased by 28% to X units in 2021. Over the period under review, imports saw a buoyant expansion. The growth pace was the most rapid in 2020 with an increase of 53%. Imports peaked in 2021 and are expected to retain growth in the near future.

In value terms, video projector imports surged to $X in 2021. The total import value increased at an average annual rate of +3.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2014 with an increase of 22% against the previous year. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, China (X units) constituted the largest supplier of video projector to South Korea, accounting for a 10% share of total imports. Moreover, video projector imports from China exceeded the figures recorded by the second-largest supplier, Slovakia (X units), sevenfold. The third position in this ranking was taken by Belgium (X units), with a 1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at -11.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Slovakia (+151.4% per year) and Belgium (+22.1% per year).

In value terms, China ($X) constituted the largest supplier of video projectors to South Korea, comprising 13% of total imports. The second position in the ranking was taken by Belgium ($X), with a 3.1% share of total imports. It was followed by Slovakia, with a 1.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to -14.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+21.3% per year) and Slovakia (+109.3% per year).

Import Prices by Country

In 2021, the average video projector import price amounted to $X per unit, shrinking by -6.1% against the previous year. In general, the import price showed a deep slump. The pace of growth appeared the most rapid in 2018 when the average import price increased by 15% against the previous year. The import price peaked at $X per unit in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+26.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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