Republic of Korea: X-Ray Generator Market 2024

X-Ray Generator Market Size in Republic of Korea

In 2021, after two years of growth, there was decline in the South Korean x-ray generator market, when its value decreased by -2.2% to $X. Overall, consumption, however, recorded a strong increase. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

X-Ray Generator Production in Republic of Korea

In value terms, x-ray generator production reduced to $X in 2021 estimated in export price. Over the period under review, production, however, enjoyed resilient growth. The most prominent rate of growth was recorded in 2014 with an increase of 158%. As a result, production attained the peak level of $X. From 2015 to 2021, production growth remained at a somewhat lower figure.

X-Ray Generator Exports

Exports from Republic of Korea

X-ray generator exports from South Korea rose sharply to X tons in 2021, picking up by 6.9% against the year before. Overall, exports enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 23% against the previous year. The exports peaked in 2021 and are likely to see steady growth in years to come.

In value terms, x-ray generator exports skyrocketed to $X in 2021. In general, exports posted a strong increase. The pace of growth appeared the most rapid in 2014 with an increase of 41% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in years to come.

Exports by Country

The United States (X tons), China (X tons) and Russia (X tons) were the main destinations of x-ray generator exports from South Korea, with a combined 50% share of total exports. Japan, Germany, Italy, Turkey, Serbia, Taiwan (Chinese), India and Iran lagged somewhat behind, together comprising a further 30%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Serbia (with a CAGR of +39.4%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for x-ray generators exports from South Korea, comprising 30% of total exports. The second position in the ranking was held by China ($X), with a 9.6% share of total exports. It was followed by Germany, with a 7.9% share.

From 2012 to 2021, the average annual growth rate of value to the United States totaled +11.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+13.5% per year) and Germany (+1.2% per year).

Export Prices by Country

In 2021, the average x-ray generator export price amounted to $X per ton, surging by 12% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.2%. The pace of growth was the most pronounced in 2019 when the average export price increased by 17% against the previous year. Over the period under review, the average export prices attained the peak figure in 2021 and is likely to see steady growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to Serbia ($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 Iran (+17.0%), while the prices for the other major destinations experienced more modest paces of growth.

X-Ray Generator Imports

Imports into Republic of Korea

In 2021, approx. X tons of x-ray generators were imported into South Korea; with an increase of 30% against the year before. Over the period under review, total imports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +6.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +35.0% against 2018 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, x-ray generator imports soared to $X in 2021. Overall, total imports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +6.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +81.3% against 2013 indices. The pace of growth appeared the most rapid in 2014 with an increase of 38%. Imports peaked in 2021 and are likely to see gradual growth in the near future.

Imports by Country

In 2021, China (X tons) constituted the largest x-ray generator supplier to South Korea, with a 53% share of total imports. Moreover, x-ray generator imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), fivefold. Japan (X tons) ranked third in terms of total imports with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +21.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+63.4% per year) and Japan (-0.7% per year).

In value terms, Japan ($X), China ($X) and the United States ($X) appeared to be the largest x-ray generator suppliers to South Korea, together comprising 70% of total imports. Germany, the Netherlands, Canada, France, Vietnam and Italy lagged somewhat behind, together accounting for a further 17%.

Among the main suppliers, Vietnam, with a CAGR of +60.8%, 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

In 2021, the average x-ray generator import price amounted to $X per ton, dropping by -7.2% against the previous year. In general, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 23% against the previous year. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the average import prices remained 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 Japan ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+10.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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