Price for Compression-ignition internal combustion piston engines (diesel or semi-diesel engines) for marine propulsion in South Korea - 2022

Contents:

1. Price for Compression-Ignition Internal Combustion Piston Engines (Diesel or Semi-Diesel Engines) for Marine Propulsion in South Korea (FOB) - 2022
2. Price for Compression-Ignition Internal Combustion Piston Engines (Diesel or Semi-Diesel Engines) for Marine Propulsion in South Korea (CIF) - 2022
3. Exports of Compression-Ignition Internal Combustion Piston Engines (Diesel or Semi-Diesel Engines) for Marine Propulsion in South Korea
4. Imports of Compression-Ignition Internal Combustion Piston Engines (Diesel or Semi-Diesel Engines) for Marine Propulsion in South Korea

Price for Compression-Ignition Internal Combustion Piston Engines (Diesel or Semi-Diesel Engines) for Marine Propulsion in South Korea (FOB) - 2022

The average export price for compression-ignition internal combustion piston engines (diesel or semi-diesel engines) for marine propulsion stood at $11,068 per unit in 2022, picking up by 19% against the previous year. Overall, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the average export price increased by 21%. The export price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was China ($11,830 per unit), while the average price for exports to Spain ($743 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 Vietnam (+3.7%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Compression-Ignition Internal Combustion Piston Engines (Diesel or Semi-Diesel Engines) for Marine Propulsion in South Korea (CIF) - 2022

In 2022, the average import price for compression-ignition internal combustion piston engines (diesel or semi-diesel engines) for marine propulsion amounted to $24,514 per unit, surging by 141% against the previous year. Overall, import price indicated a resilient increase from 2012 to 2022: its price increased at an average annual rate of +6.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price reached the peak level and is likely to continue 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 Italy ($66,793 per unit), while the price for the UK ($1,511 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+26.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Exports of Compression-Ignition Internal Combustion Piston Engines (Diesel or Semi-Diesel Engines) for Marine Propulsion in South Korea

In 2022, overseas shipments of compression-ignition internal combustion piston engines (diesel or semi-diesel engines) for marine propulsion decreased by -22.4% to 40K units, falling for the second consecutive year after two years of growth. Over the period under review, exports continue to indicate a abrupt shrinkage. The pace of growth was the most pronounced in 2020 with an increase of 21% against the previous year. As a result, the exports attained the peak of 58K units. From 2021 to 2022, the growth of the exports of remained at a lower figure.

In value terms, exports of compression-ignition internal combustion piston engines (diesel or semi-diesel engines) for marine propulsion contracted to $438M in 2022. In general, exports recorded a pronounced downturn. The pace of growth was the most pronounced in 2020 when exports increased by 0.8% against the previous year. As a result, the exports attained the peak of $492M. From 2021 to 2022, the growth of the exports of failed to regain momentum.

Top Export Markets for Compression-Ignition Internal Combustion Piston Engines (Diesel or Semi-Diesel Engines) for Marine Propulsion from South Korea in 2022:

1. China (29.7K units)
2. Vietnam (5.4K units)
3. Spain (1.2K units)
4. Taiwan (Chinese) (0.9K units)

Imports of Compression-Ignition Internal Combustion Piston Engines (Diesel or Semi-Diesel Engines) for Marine Propulsion in South Korea

In 2022, the amount of compression-ignition internal combustion piston engines (diesel or semi-diesel engines) for marine propulsion imported into South Korea shrank notably to 6.2K units, with a decrease of -42.7% compared with 2021. In general, imports recorded a abrupt slump. The most prominent rate of growth was recorded in 2021 with an increase of 101% against the previous year. As a result, imports attained the peak of 11K units, and then reduced remarkably in the following year.

In value terms, imports of compression-ignition internal combustion piston engines (diesel or semi-diesel engines) for marine propulsion soared to $153M in 2022. Overall, imports, however, continue to indicate resilient growth. The pace of growth appeared the most rapid in 2021 with an increase of 46% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

Top Suppliers of Compression-Ignition Internal Combustion Piston Engines (Diesel or Semi-Diesel Engines) for Marine Propulsion to South Korea in 2022:

1. Japan (1730.0 units)
2. Germany (1613.0 units)
3. Italy (1079.0 units)
4. Finland (529.0 units)
5. United Kingdom (405.0 units)
6. Sweden (333.0 units)
7. China (275.0 units)
8. United States (230.0 units)

Source: IndexBox Market Intelligence Platform