Republic of Korea - Gym and Fitness Equipment - Market Analysis, Forecast, Size, Trends and Insights
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View PricingPrice for Gym and Fitness Equipment in South Korea - 2022
Contents:
- Price for Gym and Fitness Equipment in South Korea (CIF) - 2022
- Price for Gym and Fitness Equipment in South Korea (FOB) - 2022
- Imports of Gym and Fitness Equipment in South Korea
- Exports of Gym and Fitness Equipment in South Korea
Price for Gym and Fitness Equipment in South Korea (CIF) - 2022
In December 2022, the average gym and fitness equipment import price amounted to $4,302 per ton, increasing by 5.4% against the previous month. In general, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in April 2022 when the average import price increased by 7.7% m-o-m. As a result, import price attained the peak level of $4,359 per ton. From May 2022 to December 2022, the average import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In December 2022, the country with the highest price was the United States ($12,894 per ton), while the price for China ($3,127 per ton) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+1.0%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Gym and Fitness Equipment in South Korea (FOB) - 2022
The average gym and fitness equipment export price stood at $8,917 per ton in 2022, increasing by 11% against the previous year. In general, the export price, however, continues to indicate a slight curtailment. Over the period under review, the average export prices reached the maximum at $10,622 per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.
There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($23,275 per ton), while the average price for exports to Sri Lanka ($230 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+6.1%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Gym and Fitness Equipment in South Korea
In 2022, supplies from abroad of gym and fitness equipment decreased by -31% to 69K tons for the first time since 2018, thus ending a three-year rising trend. Overall, total imports indicated a remarkable increase from 2019 to 2022: its volume increased at an average annual rate of +8.0% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 49%.
In value terms, gym and fitness equipment imports fell sharply to $287M in 2022. In general, total imports indicated a strong expansion from 2019 to 2022: its value increased at an average annual rate of +11.6% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +39.0% against 2019 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 39%.
| Import of Gym and Fitness Equipment in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 147 | 225 | 298 | 207 | 12.1% |
| United States | 20.9 | 20.6 | 31.0 | 32.6 | 16.0% |
| Taiwan (Chinese) | 14.7 | 15.2 | 17.8 | 15.3 | 1.3% |
| Others | 23.8 | 25.7 | 35.2 | 32.1 | 10.5% |
| Total | 207 | 287 | 382 | 287 | 11.5% |
Top Suppliers of Gym and Fitness Equipment to South Korea in 2022:
- China (64.2K tons)
- United States (1.9K tons)
- Taiwan (Chinese) (1.4K tons)
Exports of Gym and Fitness Equipment in South Korea
In 2022, exports of gym and fitness equipment from South Korea fell to 3.2K tons, with a decrease of -4.3% on 2021 figures. Over the period under review, exports showed a slight decrease. The growth pace was the most rapid in 2021 when exports increased by 5.9%. As a result, the exports attained the peak of 3.4K tons, and then shrank in the following year.
In value terms, gym and fitness equipment exports amounted to $29M in 2022. Overall, exports showed a relatively flat trend pattern.
| Export of Gym and Fitness Equipment in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 4.7 | 7.0 | 5.3 | 6.8 | 13.1% |
| Japan | 6.1 | 3.9 | 3.9 | 5.8 | -1.7% |
| China | 6.1 | 4.4 | 5.2 | 5.6 | -2.8% |
| Netherlands | 0.8 | 0.6 | 0.8 | 1.0 | 7.7% |
| Vietnam | 1.1 | 0.9 | 0.6 | 1.0 | -3.1% |
| India | 1.0 | 0.9 | 0.7 | 0.6 | -15.7% |
| Norway | 0.3 | 0.4 | 0.3 | 0.6 | 26.0% |
| Hong Kong SAR | 0.3 | 0.4 | 0.9 | 0.6 | 26.0% |
| Iraq | N/A | 0.1 | N/A | 0.4 | 100.0% |
| Pakistan | 0.2 | 0.2 | 0.2 | 0.2 | 0.0% |
| Nigeria | 0.4 | 0.3 | 0.2 | 0.2 | -20.6% |
| Mongolia | 0.2 | 0.2 | 0.2 | 0.1 | -20.6% |
| Sri Lanka | 0.1 | 0.2 | 0.1 | 0.1 | 0.0% |
| Others | 7.9 | 6.2 | 8.6 | 5.8 | -9.8% |
| Total | 29.2 | 25.7 | 27.2 | 28.9 | -0.3% |
Top Export Markets for Gym and Fitness Equipment from South Korea in 2022:
- Japan (533.7 tons)
- Pakistan (369.2 tons)
- China (367.1 tons)
- United States (291.9 tons)
- Sri Lanka (288.8 tons)
- Nigeria (160.6 tons)
- Mongolia (133.3 tons)
- Vietnam (112.3 tons)
- Norway (96.4 tons)
- Iraq (82.0 tons)
- India (63.1 tons)
- Hong Kong SAR (55.5 tons)
- Netherlands (55.3 tons)
This report provides an in-depth analysis of the market for gym and fitness equipment 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 32301400 - Gymnasium or athletics articles and equipment
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
-
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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