Republic of Korea: Winche And Capstan Market 2025

Winche And Capstan Market Size in Republic of Korea

The South Korean winche and capstan market declined to $X in 2021, reducing by -7.6% against the previous year. Overall, consumption recorded a pronounced decline. Over the period under review, the market reached the maximum level at $X in 2016; however, from 2017 to 2021, consumption failed to regain momentum.

Winche And Capstan Production in Republic of Korea

In value terms, winche and capstan production contracted remarkably to $X in 2021 estimated in export price. Overall, production recorded a perceptible curtailment. The growth pace was the most rapid in 2020 when the production volume increased by 70%. Over the period under review, production attained the maximum level at $X in 2016; however, from 2017 to 2021, production failed to regain momentum.

Winche And Capstan Exports

Exports from Republic of Korea

Winche and capstan exports from South Korea declined notably to X units in 2021, dropping by -15.2% on 2020 figures. Overall, exports showed a abrupt curtailment. The pace of growth was the most pronounced in 2019 when exports increased by 42%. Over the period under review, the exports hit record highs at X units in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, winche and capstan exports surged to $X in 2021. In general, exports, however, posted a temperate increase. The most prominent rate of growth was recorded in 2020 when exports increased by 94%. Over the period under review, the exports reached the maximum in 2021 and are likely to see steady growth in the immediate term.

Exports by Country

China (X units), Vietnam (X units) and the United States (X units) were the main destinations of winche and capstan exports from South Korea, with a combined 81% share of total exports. Taiwan (Chinese), Indonesia, Russia, Singapore, Japan, the Philippines and Romania lagged somewhat behind, together comprising a further 13%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Russia (with a CAGR of +53.3%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the key foreign market for winches and capstans exports from South Korea, comprising 37% of total exports. The second position in the ranking was held by Vietnam ($X), with a 15% share of total exports. It was followed by the United States, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China amounted to +7.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+31.7% per year) and the United States (+2.0% per year).

Export Prices by Country

The average winche and capstan export price stood at $X per unit in 2021, rising by 59% against the previous year. Overall, the export price saw resilient growth. The pace of growth appeared the most rapid in 2020 an increase of 213%. Over the period under review, the average export prices reached the peak figure in 2021 and is likely to continue growth in the near future.

Prices varied noticeably country of destination: the country with the highest price was Japan ($X per unit), while the average price for exports to Romania ($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 States (+24.0%), while the prices for the other major destinations experienced more modest paces of growth.

Winche And Capstan Imports

Imports into Republic of Korea

In 2021, the amount of winches and capstans imported into South Korea dropped remarkably to X units, with a decrease of -20.9% compared with the year before. Overall, imports continue to indicate a abrupt setback. The most prominent rate of growth was recorded in 2017 with an increase of 65%. Imports peaked at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, winche and capstan imports reduced to $X in 2021. In general, imports saw a drastic downturn. The pace of growth was the most pronounced in 2018 when imports increased by 77% against the previous year. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest winche and capstan supplier to South Korea, accounting for a 80% share of total imports. Moreover, winche and capstan imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X units), more than tenfold. The third position in this ranking was held by the United States (X units), with a 4% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +1.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-1.6% per year) and the United States (-9.8% per year).

In value terms, the largest winche and capstan suppliers to South Korea were China ($X), Poland ($X) and Italy ($X), together comprising 57% of total imports.

Among the main suppliers, Italy, with a CAGR of +6.4%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average winche and capstan import price stood at $X per unit in 2021, growing by 19% against the previous year. In general, the import price, however, recorded a abrupt decline. The pace of growth appeared the most rapid in 2020 when the average import price increased by 33%. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: 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 Norway (+18.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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