Republic of Korea - Machines For Balancing Mechanical Parts - Market Analysis, Forecast, Size, Trends And Insights
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View PricingPrice for Balancing Mechanical Parts Machine in South Korea - 2022
Contents:
- Price for Balancing Mechanical Parts Machine in South Korea (CIF) - 2022
- Price for Balancing Mechanical Parts Machine in South Korea (FOB) - 2022
- Imports of Balancing Mechanical Parts Machine in South Korea
- Exports of Balancing Mechanical Parts Machine in South Korea
Price for Balancing Mechanical Parts Machine in South Korea (CIF) - 2022
In 2022, the average balancing mechanical parts machine import price amounted to $4,842 per unit, declining by -3.3% against the previous year. Overall, the import price showed a slight decrease. The pace of growth was the most pronounced in 2016 an increase of 8.7%. Over the period under review, average import prices reached the maximum at $5,618 per unit in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.
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 Germany ($12,115 per unit), while the price for China ($2,319 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+6.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Balancing Mechanical Parts Machine in South Korea (FOB) - 2022
The average balancing mechanical parts machine export price stood at $3,742 per unit in 2022, with a decrease of -2.5% against the previous year. Over the last decade, it increased at an average annual rate of +5.0%. The most prominent rate of growth was recorded in 2013 when the average export price increased by 32%. The export price peaked at $3,838 per unit in 2021, and then declined slightly in the following year.
There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was China ($5,474 per unit), while the average price for exports to Indonesia ($2,018 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 Russia (+8.8%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Balancing Mechanical Parts Machine in South Korea
In 2022, purchases abroad of machines for balancing mechanical parts decreased by 0% to 3.5K units, falling for the second consecutive year after two years of growth. The total import volume increased at an average annual rate of +2.2% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 when imports increased by 6.9% against the previous year. As a result, imports reached the peak of 3.5K units; afterwards, it flattened through to 2022.
In value terms, balancing mechanical parts machine imports contracted slightly to $17M in 2022. The total import value increased at an average annual rate of +4.4% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2020 with an increase of 9.9%. Over the period under review, imports hit record highs at $17M in 2021, and then dropped slightly in the following year.
| Import of Balancing Mechanical Parts Machine in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 4.5 | 2.1 | 4.6 | 4.2 | -2.3% |
| United States | 2.0 | 3.4 | 4.2 | 3.9 | 24.9% |
| Japan | 3.2 | 3.4 | 3.1 | 3.1 | -1.1% |
| Germany | 3.0 | 3.3 | 1.8 | 2.6 | -4.7% |
| Italy | 1.6 | 2.9 | 2.4 | 2.1 | 9.5% |
| Others | 0.4 | 1.1 | 1.2 | 0.9 | 31.0% |
| Total | 14.8 | 16.2 | 17.4 | 16.8 | 4.3% |
Top Suppliers of Balancing Mechanical Parts Machine to South Korea in 2022:
- China (1801.0 units)
- United States (593.0 units)
- Italy (460.0 units)
- Japan (341.0 units)
- Germany (214.0 units)
Exports of Balancing Mechanical Parts Machine in South Korea
In 2022, balancing mechanical parts machine exports from South Korea declined dramatically to 1.7K units, which is down by -15.1% against the previous year. Overall, exports faced a deep reduction. The pace of growth was the most pronounced in 2021 with an increase of 28% against the previous year. Over the period under review, the exports attained the peak figure at 2.3K units in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.
In value terms, balancing mechanical parts machine exports declined sharply to $6.2M in 2022. In general, exports showed a abrupt descent. The most prominent rate of growth was recorded in 2021 when exports increased by 53%. Over the period under review, the exports reached the peak figure at $7.9M in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.
| Export of Balancing Mechanical Parts Machine in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 3,207 | 1,749 | 677 | 1,472 | -22.9% |
| China | 2,779 | 638 | 883 | 1,131 | -25.9% |
| Germany | 0.5 | 11.1 | 911 | 774 | 1056.8% |
| Russia | 25.0 | 70.5 | 811 | 689 | 202.1% |
| Japan | 157 | 2.1 | 573 | 487 | 45.8% |
| Mexico | 375 | 110 | 544 | 463 | 7.3% |
| India | 317 | 730 | 305 | 356 | 3.9% |
| Vietnam | 384 | 638 | 84.4 | 288 | -9.1% |
| Thailand | 97.9 | 173 | 263 | 224 | 31.8% |
| Indonesia | 148 | 518 | 130 | 209 | 12.2% |
| Iraq | N/A | N/A | 1,025 | N/A | 0% |
| Others | 456 | 291 | 1,317 | 134 | -33.5% |
| Total | 7,947 | 4,930 | 7,523 | 6,226 | -7.8% |
Top Export Markets for Balancing Mechanical Parts Machine from South Korea in 2022:
- United States (448.0 units)
- China (207.0 units)
- Germany (173.0 units)
- Japan (133.0 units)
- Russia (128.0 units)
- Vietnam (117.0 units)
- Indonesia (103.0 units)
- Mexico (99.0 units)
- India (99.0 units)
- Thailand (84.0 units)
This report provides an in-depth analysis of the market for balancing mechanical parts machine 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 28993970 - Machines for balancing mechanical parts
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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