Republic of Korea - Power Tools - Market Analysis, Forecast, Size, Trends and Insights
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View PricingPower Tool Price in South Korea - 2022
Contents:
- Power Tool Price in South Korea (CIF) - 2022
- Power Tool Price in South Korea (FOB) - 2022
- Power Tool Imports in South Korea
- Power Tool Exports in South Korea
Power Tool Price in South Korea (CIF) - 2022
In December 2022, the average power tool import price amounted to $81.1 per unit, therefore, remained relatively stable against the previous month. Overall, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in June 2022 an increase of 0.2% against the previous month. The import price peaked at $82.3 per unit in December 2021; however, from January 2022 to December 2022, import prices stood at a somewhat lower figure.
Average prices varied noticeably amongst the major supplying countries. In December 2022, the countries with the highest prices were Austria ($81.9 per unit) and China ($81.2 per unit), while the price for Thailand ($79.8 per unit) and France ($80.8 per unit) were amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (-0.1%), while the prices for the other major suppliers experienced a decline.
Power Tool Price in South Korea (FOB) - 2022
The average power tool export price stood at $105 per unit in 2022, increasing by 52% against the previous year. In general, the export price enjoyed mild growth. The pace of growth appeared the most rapid in 2018 an increase of 129%. The export price peaked at $117 per unit in 2019; however, from 2020 to 2022, the 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 France ($220 per unit), while the average price for exports to China ($44 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 (+12.9%), while the prices for the other major destinations experienced more modest paces of growth.
Power Tool Imports in South Korea
In 2022, after three years of growth, there was significant decline in overseas purchases of power tools, when their volume decreased by -11% to 3.4M units. The total import volume increased at an average annual rate of +7.1% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by 31% against the previous year. As a result, imports reached the peak of 3.9M units, and then fell in the following year.
In value terms, power tool imports reduced to $218M in 2022. The total import value increased at an average annual rate of +2.6% from 2019 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 16%. As a result, imports attained the peak of $240M, and then contracted in the following year.
| Import of Power Tool in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 116 | 122 | 151 | 137 | 5.7% |
| Malaysia | 33.3 | 27.1 | 26.5 | 26.2 | -7.7% |
| Germany | 15.0 | 14.9 | 16.7 | 15.2 | 0.4% |
| Sweden | 7.5 | 8.6 | 11.1 | 10.1 | 10.4% |
| Japan | 9.8 | 6.5 | 6.9 | 7.0 | -10.6% |
| Mexico | 2.3 | 2.3 | 3.7 | 3.4 | 13.9% |
| Hungary | 1.5 | 1.8 | 2.9 | 2.6 | 20.1% |
| Others | 16.8 | 22.8 | 20.9 | 16.2 | -1.2% |
| Total | 202 | 206 | 240 | 218 | 2.6% |
Top Suppliers of Power Tool to South Korea in 2022:
- China (2683.6K units)
- Malaysia (363.7K units)
- Germany (79.2K units)
- Hungary (71.5K units)
- Sweden (62.3K units)
- Mexico (52.8K units)
- Japan (51.0K units)
Power Tool Exports in South Korea
After three years of growth, overseas shipments of power tools decreased by -62.8% to 286K units in 2022. Overall, exports saw a abrupt contraction. The most prominent rate of growth was recorded in 2020 when exports increased by 42%. The exports peaked at 769K units in 2021, and then declined dramatically in the following year.
In value terms, power tool exports contracted sharply to $30M in 2022. In general, exports saw a drastic downturn. The most prominent rate of growth was recorded in 2021 with an increase of 48%. As a result, the exports reached the peak of $53M, and then fell sharply in the following year.
| Export of Power Tool in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 6.6 | 5.3 | 5.8 | 5.1 | -8.2% |
| Uzbekistan | 0.1 | 0.1 | 4.5 | 2.8 | 203.7% |
| France | 1.5 | 1.7 | 2.2 | 2.0 | 10.1% |
| Japan | 2.7 | 1.3 | 1.2 | 1.5 | -17.8% |
| Germany | 1.0 | 1.1 | 1.1 | 1.0 | 0.0% |
| Vietnam | 1.0 | 0.7 | 1.0 | 0.9 | -3.5% |
| China | 0.8 | 0.6 | 0.9 | 0.8 | 0.0% |
| Russia | 0.2 | 0.3 | 0.9 | 0.8 | 58.7% |
| Czech Republic | 0.3 | 0.5 | 0.7 | 0.6 | 26.0% |
| Israel | 0.8 | 0.7 | 0.6 | 0.5 | -14.5% |
| Taiwan (Chinese) | 0.5 | 0.3 | 0.6 | 0.4 | -7.2% |
| Indonesia | 0.2 | 0.7 | 0.4 | 0.4 | 26.0% |
| Spain | 0.4 | 0.3 | 0.5 | 0.4 | 0.0% |
| Others | 32.0 | 22.2 | 32.7 | 12.7 | -26.5% |
| Total | 48.1 | 35.9 | 53.0 | 29.9 | -14.7% |
Top Export Markets for Power Tool from South Korea in 2022:
- United States (38.1K units)
- Uzbekistan (33.6K units)
- Japan (18.9K units)
- China (17.4K units)
- Vietnam (11.4K units)
- Germany (9.7K units)
- Russia (9.7K units)
- Czech Republic (9.4K units)
- France (8.9K units)
- Israel (7.1K units)
- Spain (6.6K units)
- Taiwan (Chinese) (6.5K units)
- Indonesia (4.6K units)
This report provides an in-depth analysis of the power tool 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 28241113 - Electromechanical hand drills operated without an external source of power
- Prodcom 28241115 - Electropneumatic drills of all kinds for working in the hand
- Prodcom 28241117 - Electromechanical hand drills of all kinds (excluding those operated without an external source of power, e lectropneumatic)
- Prodcom 28241120 - Electromechanical hand tools operated without an external source of power (excluding drills, saws )
- Prodcom 28241123 - Electromechanical chainsaws
- Prodcom 28241125 - Electromechanical circular saws
- Prodcom 28241127 - Electromechanical handsaws (excluding chainsaws, circular saws)
- Prodcom 28241133 -
- Prodcom 28241135 -
- Prodcom 28241150 - Grinders, sanders and planers, for working in the hand, with self-contained electric motor, operating with an external source of power
- Prodcom 28241180 - Electromechanical hedge trimmers and lawn edge cutters
- Prodcom 28241185 - Electromechanical hand tools, with self-contained electric motor operating with an external source of power (excluding saws, drills, grinders, sanders, planers, hedge trimmers and lawn edge cutters)
- Prodcom 28241190 -
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
-
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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Discover the top import markets for power tools based on their import value in 2022. Get valuable insights on the global demand for power tools and potential opportunities for manufacturers and exporters.
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In 2016, the global imports of electro-mechanical tool totaled X tons, picking up by X% against the previous year figure. Overall, electro-mechanical tool imports continue to indicate a relativel...
781
In 2016, the global imports of electro-mechanical tool totaled X tons, picking up by X% against the previous year figure. Overall, electro-mechanical tool imports continue to indicate a relativel...
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Global electro-mechanical tool market production (drills of all kinds, saws or other) was estimated
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In 2015, the value of total imports on the global electro-mechanical tool market stood at X million USD. Overall, there was an annual increase of +X% for the period from 2007 to 2015. In physical terms, the total volume of electro-mechanical too
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From 2007 to 2015, global consumption on the electro-mechanical tool market grew annually by +X%. The highest annual rates of growth with regard to electro-mechanical tools (drills of all kinds, saws or other) consumption from 2007 to 2015, were reco
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From 2007 to 2015, global exports of electro-mechanical tools (drills of all kinds, saws or other) increased by +X% per year, amounting to X million USD in 2015. In physical terms, exports reached X million units in 2015, and remained stable a
956
China dominates in the global electro-mechanical tool trade. In 2014, China exported X thousand tons of electro-mechanical tools totaling X million USD, X% over the previous year. Its primary trading partner was the U.S., where it supplied X
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Discover the top import markets for power tools based on their import value in 2022. Get valuable insights on the global demand for power tools and potential opportunities for manufacturers and exporters.
