Report Update: May 8, 2024

Republic of Korea - Jacks And Hoists For Raising Vehicles - Market Analysis, Forecast, Size, Trends And Insights

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Jacks and Hoists Price in South Korea - 2022

Jacks and Hoists Price in South Korea (CIF) - 2022

In 2022, the average jacks and hoists import price amounted to $80 per unit, with an increase of 9.5% against the previous year. Overall, the import price, however, continues to indicate a perceptible setback. The most prominent rate of growth was recorded in 2015 when the average import price increased by 40%. Over the period under review, average import prices reached the peak figure at $110 per unit in 2012; however, from 2013 to 2022, 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 the United States ($157 per unit), while the price for China amounted to $47 per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+6.3%).

Jacks and Hoists Price in South Korea (FOB) - 2022

In 2022, the average jacks and hoists export price amounted to $47 per unit, with an increase of 19% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of 22% against the previous year. As a result, the export price reached the peak level of $64 per unit. From 2015 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($521 per unit), while the average price for exports to Pakistan ($7.7 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Slovakia (+36.4%), while the prices for the other major destinations experienced more modest paces of growth.

Jacks and Hoists Imports in South Korea

In 2022, after three years of growth, there was significant decline in supplies from abroad of jacks and hoists for raising vehicles, when their volume decreased by -9.6% to 160K units. In general, total imports indicated strong growth from 2019 to 2022: its volume increased at an average annual rate of +15.4% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when imports increased by 61%. Over the period under review, imports hit record highs at 177K units in 2021, and then reduced in the following year.

In value terms, jacks and hoists imports contracted modestly to $13M in 2022. The total import value increased at an average annual rate of +8.5% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 when imports increased by 39% against the previous year. As a result, imports attained the peak of $14M. From 2021 to 2022, the growth of imports remained at a lower figure.

Import of Jacks and Hoists in South Korea (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	4.4	8.5	7.6	7.1	17.3%
Others	5.7	5.5	5.3	5.8	0.6%
Total	10.0	14.0	13.0	12.8	8.6%

Top Suppliers of Jacks and Hoists to South Korea in 2022:

China (151.0K units)

Jacks and Hoists Exports in South Korea

For the third consecutive year, South Korea recorded decline in overseas shipments of jacks and hoists for raising vehicles, which decreased by -27% to 144K units in 2022. In general, exports continue to indicate a deep setback. The smallest decline of -4% was in 2021. Over the period under review, the exports reached the peak figure at 279K units in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, jacks and hoists exports fell to $6.8M in 2022. Over the period under review, exports continue to indicate a deep slump. The pace of growth appeared the most rapid in 2021 with an increase of 1.5%. Over the period under review, the exports attained the maximum at $9.8M in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Export of Jacks and Hoists in South Korea (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	3,263	3,612	2,853	2,853	-4.4%
India	598	331	301	716	6.2%
Mexico	888	397	638	697	-7.8%
Indonesia	27.5	11.5	101	537	169.3%
Czech Republic	1,226	528	191	219	-43.7%
Russia	1,007	889	1,210	215	-40.2%
Pakistan	104	76.3	80.3	101	-1.0%
China	746	597	566	86.0	-51.3%
Others	1,898	1,238	1,852	1,350	-10.7%
Total	9,757	7,680	7,792	6,775	-11.4%

Top Export Markets for Jacks and Hoists from South Korea in 2022:

United States (75.0K units)
Mexico (19.5K units)
Pakistan (13.2K units)
Czech Republic (6.8K units)
India (6.7K units)
Indonesia (5.6K units)
Russia (5.1K units)
China (3.2K units)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the jacks and hoists 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 28221370 - Jacks and hoists of a kind used for raising vehicles (excluding built-in jacking systems of a kind used in garages, hydraulic jacks and hoists)

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 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
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 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
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, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023