Report Update: May 1, 2024

Republic of Korea - Milking Machines - Market Analysis, Forecast, Size, Trends and Insights

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Milking Machine Price in South Korea - 2022

Milking Machine Price in South Korea (CIF) - 2022

In 2022, the average milking machine import price amounted to $4,210 per unit, remaining stable against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.7%. The pace of growth appeared the most rapid in 2014 when the average import price increased by 22% against the previous year. The import price peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Sweden ($6,272 per unit), while the price for China ($496 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+10.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Milking Machine Price in South Korea (FOB) - 2022

The average milking machine export price stood at $2,380 per unit in 2022, with an increase of 37% against the previous year. Over the period under review, the export price, however, recorded a slight decline. The most prominent rate of growth was recorded in 2014 when the average export price increased by 484% against the previous year. As a result, the export price reached the peak level of $16,186 per unit. From 2015 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($7,422 per unit), while the average price for exports to France ($79 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 France (+141.9%), while the prices for the other major destinations experienced mixed trend patterns.

Milking Machine Imports in South Korea

Milking machine imports into South Korea soared to 821 units in 2022, picking up by 78% against the previous year's figure. In general, imports, however, recorded a relatively flat trend pattern. Over the period under review, imports hit record highs at 1.3K units in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, milking machine imports surged to $3.5M in 2022. Over the period under review, imports posted a remarkable increase. Imports peaked at $5M in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Import of Milking Machine in South Korea (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Germany	263	1,147	476	763	42.6%
Netherlands	605	704	295	732	6.6%
Sweden	108	272	231	302	40.9%
Greece	37.4	74.3	20.6	23.3	-14.6%
Turkey	0.7	16.1	8.9	11.6	154.9%
Denmark	53.5	71.8	24.9	7.5	-48.1%
China	53.0	23.9	5.3	3.7	-58.8%
Italy	113	122	2.0	2.0	-73.9%
Others	1,572	2,557	861	1,611	0.8%
Total	2,805	4,987	1,925	3,456	7.2%

Top Suppliers of Milking Machine to South Korea in 2022:

Germany (206.0 units)
Netherlands (153.0 units)
Sweden (48.0 units)
Turkey (22.0 units)
China (7.0 units)
Greece (4.0 units)
Denmark (2.0 units)
Italy (1.0 units)

Milking Machine Exports in South Korea

In 2022, overseas shipments of milking machines decreased by -40% to 3 units for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports, however, saw a strong expansion. The growth pace was the most rapid in 2021 with an increase of 150%. As a result, the exports attained the peak of 5 units, and then reduced markedly in the following year.

In value terms, milking machine exports plummeted to $7.1K in 2022. Overall, exports, however, continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2020 with an increase of 199%. Over the period under review, the exports attained the peak figure at $8.8K in 2021, and then declined rapidly in the following year.

Export of Milking Machine in South Korea (USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Netherlands	446	2,743	2,987	2,270	72.0%
China	60.0	378	424	332	76.9%
France	6.0	N/A	N/A	73.0	130.0%
Thailand	N/A	N/A	13.0	N/A	0%
Denmark	N/A	N/A	76.0	N/A	0%
Israel	N/A	N/A	612	N/A	0%
Others	1,263	2,191	4,737	4,405	51.7%
Total	1,775	5,312	8,849	7,080	58.6%

Top Export Markets for Milking Machine from South Korea in 2022:

Netherlands (1.0 units)
France (1.0 units)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the milking machine 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 28308200 - Milking machines

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