Price for Electric Motors; AC Motors, Single-Phase in South Korea - 2022
Contents:
- Price for Electric Motors; AC Motors, Single-Phase in South Korea (CIF) - 2022
- Price for Electric Motors; AC Motors, Single-Phase in South Korea (FOB) - 2022
- Imports of Electric Motors; AC Motors, Single-Phase in South Korea
- Exports of Electric Motors; AC Motors, Single-Phase in South Korea
Price for Electric Motors; AC Motors, Single-Phase in South Korea (CIF) - 2022
In 2022, the average import price for electric motors; AC motors, single-phases amounted to $56 per unit, surging by 37% against the previous year. Over the period under review, the import price, however, saw a abrupt decline. The most prominent rate of growth was recorded in 2021 when the average import price increased by 59% against the previous year. The import price peaked at $111 per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Germany ($56 per unit) and Vietnam ($56 per unit), while the price for Italy ($56 per unit) and the United States ($56 per unit) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (-6.6%), while the prices for the other major suppliers experienced a decline.
Price for Electric Motors; AC Motors, Single-Phase in South Korea (FOB) - 2022
In 2022, the average export price for electric motors; AC motors, single-phases amounted to $72 per unit, picking up by 28% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The export price peaked at $79 per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.
Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were Egypt ($72 per unit) and Singapore ($72 per unit), while the average price for exports to Thailand ($72 per unit) and Austria ($72 per unit) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Egypt (-0.1%), while the prices for the other major destinations experienced a decline.
Imports of Electric Motors; AC Motors, Single-Phase in South Korea
In 2022, overseas purchases of electric motors; AC motors, single-phases decreased by -34.8% to 1.9M units, falling for the second consecutive year after two years of growth. Overall, imports showed a deep setback. The pace of growth appeared the most rapid in 2020 with an increase of 15% against the previous year. As a result, imports reached the peak of 3.6M units. From 2021 to 2022, the growth of imports failed to regain momentum.
In value terms, electric motors; AC motors, single-phase imports shrank to $104M 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 somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 27% against the previous year. As a result, imports reached the peak of $117M, and then declined in the following year.
| Import of Electric Motors; AC Motors, Single-Phase in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 67.0 | 63.7 | 82.4 | 72.4 | 2.6% |
| Vietnam | 11.4 | 9.6 | 12.7 | 9.7 | -5.2% |
| Japan | 5.6 | 4.9 | 9.3 | 7.0 | 7.7% |
| Mexico | 3.9 | 4.3 | 3.5 | 3.7 | -1.7% |
| United States | 1.6 | 2.4 | 1.5 | 3.1 | 24.7% |
| Italy | 1.5 | 1.5 | 1.5 | 2.7 | 21.6% |
| Germany | 0.7 | 1.4 | 1.4 | 1.8 | 37.0% |
| France | 2.3 | 1.9 | 1.3 | 1.2 | -19.5% |
| Others | 2.4 | 2.4 | 3.2 | 2.8 | 5.3% |
| Total | 96.5 | 92.2 | 117 | 104 | 2.5% |
Top Suppliers of Electric Motors; AC Motors, Single-Phase to South Korea in 2022:
- China (1296.6K units)
- Vietnam (173.4K units)
- Japan (125.8K units)
- Mexico (66.9K units)
- United States (55.0K units)
- Italy (47.7K units)
- Germany (31.4K units)
- France (20.7K units)
Exports of Electric Motors; AC Motors, Single-Phase in South Korea
In 2022, exports of electric motors; AC motors, single-phases from South Korea declined significantly to 1M units, falling by -22.6% compared with 2021 figures. Over the period under review, exports showed a pronounced slump. The growth pace was the most rapid in 2021 when exports increased by 22% against the previous year. As a result, the exports reached the peak of 1.3M units, and then dropped markedly in the following year.
In value terms, electric motors; AC motors, single-phase exports dropped to $74M in 2022. The total export value increased at an average annual rate of +4.4% over the period from 2019 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The growth pace was the most rapid in 2020 with an increase of 9.2%. Over the period under review, the exports attained the maximum at $75M in 2021, and then dropped modestly in the following year.
| Export of Electric Motors; AC Motors, Single-Phase in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 13.7 | 12.0 | 14.4 | 18.4 | 10.3% |
| Vietnam | 9.6 | 18.6 | 18.7 | 13.7 | 12.6% |
| Iran | 5.7 | 6.1 | 4.7 | 7.8 | 11.0% |
| China | 7.2 | 8.2 | 8.7 | 7.1 | -0.5% |
| Japan | 7.3 | 5.5 | 3.7 | 5.3 | -10.1% |
| Mexico | 3.2 | 3.6 | 5.6 | 2.9 | -3.2% |
| Austria | 0.5 | 1.4 | 2.5 | 2.1 | 61.3% |
| Taiwan (Chinese) | 4.0 | 4.3 | 3.8 | 1.7 | -24.8% |
| United Arab Emirates | 0.1 | 0.2 | 0.4 | 1.6 | 152.0% |
| United Kingdom | 1.1 | 1.2 | 1.3 | 1.5 | 10.9% |
| Thailand | 2.1 | 0.7 | 1.6 | 1.4 | -12.6% |
| Singapore | 1.0 | 0.8 | 0.9 | 1.3 | 9.1% |
| Poland | 2.1 | 1.7 | 0.4 | 0.3 | -47.7% |
| Others | 7.5 | 6.7 | 8.2 | 8.7 | 5.1% |
| Total | 65.1 | 71.1 | 75.0 | 74.1 | 4.4% |
Top Export Markets for Electric Motors; AC Motors, Single-Phase from South Korea in 2022:
- United States (255.8K units)
- Vietnam (190.9K units)
- Iran (108.8K units)
- China (99.3K units)
- Japan (73.6K units)
- Mexico (40.4K units)
- Austria (28.5K units)
- Taiwan (Chinese) (24.2K units)
- United Arab Emirates (22.9K units)
- United Kingdom (21.3K units)
- Thailand (19.2K units)
- Singapore (18.4K units)
- Poland (4.2K units)
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