Republic of Korea - Automotive Lighting - Market Analysis, Forecast, Size, Trends And Insights
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View PricingAutomotive Lighting Price in South Korea - 2022
Contents:
- Automotive Lighting Price in South Korea (FOB) - 2022
- Automotive Lighting Price in South Korea (CIF) - 2022
- Automotive Lighting Exports in South Korea
- Automotive Lighting Imports in South Korea
Automotive Lighting Price in South Korea (FOB) - 2022
The average automotive lighting export price stood at $33.6 per unit in December 2022, flattening at the previous month. Overall, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in September 2022 when the average export price increased by 26% m-o-m. As a result, the export price reached the peak level of $43.7 per unit. From October 2022 to December 2022, the the average export prices remained at a somewhat lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was India ($48.0 per unit), while the average price for exports to Russia ($5.8 per unit) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to Slovakia (+3.3%), while the prices for the other major destinations experienced more modest paces of growth.
Automotive Lighting Price in South Korea (CIF) - 2022
In December 2022, the average automotive lighting import price amounted to $43.9 per unit, waning by -15% against the previous month. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in November 2022 when the average import price increased by 22% against the previous month. Over the period under review, average import prices attained the peak figure at $52.2 per unit in August 2022; however, from September 2022 to December 2022, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In December 2022, the country with the highest price was Germany ($174 per unit), while the price for Taiwan (Chinese) ($24.9 per unit) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by the United States (+3.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Automotive Lighting Exports in South Korea
For the third year in a row, South Korea recorded decline in shipments abroad of automotive lighting, which decreased by -31.4% to 61M units in 2022. In general, exports showed a abrupt contraction. The smallest decline of -0.7% was in 2021. Over the period under review, the exports reached the maximum at 110M units in 2019; however, from 2020 to 2022, the exports failed to regain momentum.
In value terms, automotive lighting exports dropped to $766M in 2022. Over the period under review, exports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 14% against the previous year. As a result, the exports reached the peak of $844M, and then shrank in the following year.
Export of Automotive Lighting in South Korea (Million USD) | |||||
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COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
United States | 202 | 208 | 258 | 289 | 12.7% |
Czech Republic | 23.3 | 67.4 | 86.2 | 97.1 | 60.9% |
Japan | 133 | 87.6 | 80.7 | 67.9 | -20.1% |
India | 52.9 | 73.3 | 73.9 | 67.5 | 8.5% |
Mexico | 50.0 | 42.8 | 47.8 | 60.9 | 6.8% |
Germany | 49.7 | 40.1 | 49.8 | 35.5 | -10.6% |
Slovakia | 14.6 | 27.2 | 27.2 | 23.7 | 17.5% |
China | 24.6 | 32.4 | 29.1 | 23.1 | -2.1% |
Russia | 61.8 | 61.6 | 67.3 | 12.1 | -41.9% |
Brazil | 15.7 | 9.1 | 12.8 | 11.3 | -10.4% |
Slovenia | 57.6 | 0.2 | 0.3 | 0.1 | -88.0% |
Others | 101 | 89.7 | 110 | 77.3 | -8.5% |
Total | 786 | 739 | 844 | 766 | -0.9% |
Top Export Markets for Automotive Lighting from South Korea in 2022:
- Slovenia (undefinedM units)
- United States (23.1M units)
- Czech Republic (7.8M units)
- Japan (5.4M units)
- India (5.4M units)
- Mexico (4.9M units)
- Germany (2.8M units)
- Slovakia (1.9M units)
- China (1.8M units)
- Russia (1.0M units)
- Brazil (0.9M units)
Automotive Lighting Imports in South Korea
For the fourth consecutive year, South Korea recorded growth in overseas purchases of automotive lighting, which increased by 23% to 13M units in 2022. In general, total imports indicated buoyant growth from 2019 to 2022: its volume increased at an average annual rate of +15.2% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +52.7% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, automotive lighting imports amounted to $259M in 2022. The total import value increased at an average annual rate of +8.9% over the period from 2019 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2020 when imports increased by 19% against the previous year. Imports peaked in 2022 and are likely to continue growth in the immediate term.
Import of Automotive Lighting in South Korea (Million USD) | |||||
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COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
China | 60.1 | 88.8 | 92.3 | 87.9 | 13.5% |
Germany | 27.2 | 30.8 | 30.0 | 36.4 | 10.2% |
Vietnam | 7.3 | 25.1 | 28.6 | 29.3 | 58.9% |
Czech Republic | 14.1 | 11.8 | 14.1 | 17.8 | 8.1% |
France | 14.3 | 12.2 | 12.2 | 14.3 | 0.0% |
Austria | 11.7 | 13.6 | 14.0 | 12.0 | 0.8% |
Slovakia | 4.3 | 5.5 | 8.4 | 11.3 | 38.0% |
United States | 16.9 | 12.2 | 11.2 | 11.0 | -13.3% |
Mexico | 4.4 | 5.8 | 7.1 | 7.8 | 21.0% |
Japan | 5.9 | 4.9 | 6.2 | 5.2 | -4.1% |
Spain | 3.3 | 3.2 | 5.1 | 4.2 | 8.4% |
Romania | 5.6 | 5.7 | 3.3 | 2.9 | -19.7% |
Thailand | 10.7 | 3.6 | 6.5 | 0.4 | -66.6% |
Others | 14.7 | 16.1 | 19.1 | 18.2 | 7.4% |
Total | 200 | 239 | 258 | 259 | 9.0% |
Top Suppliers of Automotive Lighting to South Korea in 2022:
- China (4218.2K units)
- Germany (1747.9K units)
- Vietnam (1485.1K units)
- Czech Republic (854.3K units)
- France (684.3K units)
- Austria (573.9K units)
- Slovakia (542.8K units)
- United States (528.3K units)
- Mexico (372.8K units)
- Japan (248.3K units)
- Spain (200.0K units)
- Romania (144.9K units)
- Thailand (21.1K units)
This report provides an in-depth analysis of the automotive lighting 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 27403910 - Electrical lighting or visual signalling equipment for motor vehicles (excluding electric filament or discharge lamps, s ealed beam lamp units, ultraviolet, infrared and arc lamps)
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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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Global lighting equipment imports stood at X tons in 2016, descending by -X% against the previous year level. The total import volume increased at an average annual rate of +X% over the perio...
Global lighting equipment imports stood at X tons in 2016, descending by -X% against the previous year level. The total import volume increased at an average annual rate of +X% over the perio...
Global lighting equipment imports stood at X tons in 2016, descending by -X% against the previous year level. The total import volume increased at an average annual rate of +X% over the perio...
Global lighting equipment imports stood at X tons in 2016, descending by -X% against the previous year level. The total import volume increased at an average annual rate of +X% over the perio...