Report Update: Dec 1, 2023

Republic of Korea - Machine Tools For Working Metal Without Removing Metal - Market Analysis, Forecast, Size, Trends And Insights

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Price for Machine Tool for Metal in South Korea - 2022

Name: Price for Machine Tool for Metal in South Korea - 2022
Creator: IndexBox Inc.
Published: 2023-12-01T00:00:00+00:00
License: https://creativecommons.org/licenses/by/4.0/
Keywords: Price for Machine Tool for Metal South Korea, IndexBox, market research, global market, publisher

Price for Machine Tool for Metal in South Korea (CIF) - 2022

In 2022, the average machine tool for metal import price amounted to $1,459 per unit, increasing by 4.5% against the previous year. Overall, the import price recorded a prominent expansion. The pace of growth was the most pronounced in 2018 an increase of 46% against the previous year. The import price peaked at $1,546 per unit in 2020; afterwards, it flattened through to 2022.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($8,708 per unit), while the price for Vietnam ($179 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+19.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Machine Tool for Metal in South Korea (FOB) - 2022

The average machine tool for metal export price stood at $569 per unit in 2022, with an increase of 5.9% against the previous year. Overall, export price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, machine tool for metal export price increased by +14.3% against 2020 indices. The pace of growth was the most pronounced in 2016 when the average export price increased by 70%. Over the period under review, the average export prices attained the peak figure at $779 per unit in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

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 Thailand ($1,248 per unit), while the average price for exports to Vietnam ($240 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 Saudi Arabia (+67.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Machine Tool for Metal in South Korea

Machine tool for metal imports into South Korea shrank sharply to 12K units in 2022, with a decrease of -22.3% on 2021. In general, imports saw a abrupt downturn. The most prominent rate of growth was recorded in 2021 with an increase of 78%. As a result, imports attained the peak of 15K units, and then dropped remarkably in the following year.

In value terms, machine tool for metal imports declined dramatically to $17M in 2022. Overall, total imports indicated a tangible expansion from 2019 to 2022: its value increased at an average annual rate of +4.5% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +30.3% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 61% against the previous year. As a result, imports reached the peak of $21M, and then fell dramatically in the following year.

Import of Machine Tool for Metal in South Korea (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Germany	3.6	8.5	8.5	6.8	23.6%
Japan	2.9	1.1	4.7	3.8	9.4%
Belgium	1.1	0.3	2.6	2.1	24.1%
China	1.7	2.1	1.4	1.2	-11.0%
Italy	2.0	0.1	0.7	0.6	-33.1%
United States	2.1	0.3	0.3	0.5	-38.0%
Hong Kong SAR	N/A	N/A	0.6	0.5	-16.7%
Vietnam	0.1	0.1	0.2	0.1	0.0%
Others	1.6	0.8	2.2	1.6	0.0%
Total	15.1	13.2	21.2	17.2	4.4%

Top Suppliers of Machine Tool for Metal to South Korea in 2022:

China (4.3K units)
Japan (2.0K units)
Hong Kong SAR (0.9K units)
Italy (0.8K units)
United States (0.8K units)
Germany (0.8K units)
Vietnam (0.7K units)
Belgium (0.7K units)

Exports of Machine Tool for Metal in South Korea

Machine tool for metal exports from South Korea amounted to 33K units in 2022, growing by 3.4% on the previous year's figure. Over the period under review, total exports indicated buoyant growth from 2019 to 2022: its volume 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, exports decreased by -19.5% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 73% against the previous year. As a result, the exports attained the peak of 41K units. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, machine tool for metal exports rose rapidly to $19M in 2022. The total export value increased at an average annual rate of +3.5% over the period from 2019 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when exports increased by 20% against the previous year. As a result, the exports reached the peak of $20M. From 2021 to 2022, the growth of the exports remained at a lower figure.

Export of Machine Tool for Metal in South Korea (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
India	1.3	1.2	3.5	3.6	40.4%
China	2.1	4.2	2.9	3.1	13.9%
Thailand	0.2	1.5	2.4	2.5	132.1%
United States	2.9	1.9	2.0	2.1	-10.2%
Vietnam	2.3	1.8	1.0	1.4	-15.3%
Indonesia	1.7	0.5	0.3	0.8	-22.2%
Switzerland	1.3	2.5	0.1	0.8	-14.9%
Germany	0.3	0.8	0.4	0.4	10.1%
Others	4.7	6.0	4.6	4.1	-4.5%
Total	16.9	20.3	17.1	18.7	3.4%

Top Export Markets for Machine Tool for Metal from South Korea in 2022:

India (12.6K units)
Vietnam (5.8K units)
China (5.5K units)
Indonesia (2.1K units)
Thailand (2.0K units)
United States (1.7K units)
Germany (0.6K units)
Switzerland (0.4K units)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the market for machine tool for metal 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 28413470 - Riveting machines, swaging machines and spinning lathes for working metal, machines for manufacturing flexible tubes of spiral metal strip and electro-magnetic pulse metal forming machines, and other machine tools for working metal without removing metal

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:

1. How to diversify your business and benefit from new market opportunities

2. How to load your idle production capacity

3. How to boost your sales on overseas markets

4. How to increase your profit margins

5. How to make your supply chain more sustainable

6. How to reduce your production and supply chain costs

7. How to outsource production to other countries

8. 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.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. 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
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
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
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2022
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2022
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
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
1. Key Findings In 2022
2. Market Volume, In Physical Terms, 2012–2022
3. Market Value, 2012–2022
4. Per Capita Consumption In 2012-2022
5. Imports, In Physical Terms, By Country, 2012–2022
6. Imports, In Value Terms, By Country, 2012–2022
7. Import Prices, By Country Of Origin, 2012–2022
8. Exports, In Physical Terms, By Country, 2012–2022
9. Exports, In Value Terms, By Country, 2012–2022
10. Export Prices, By Country Of Destination, 2012–2022
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2022
2. Market Value, 2012–2022
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2022
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2022
5. Trade Balance, In Physical Terms, 2012-2022
6. Trade Balance, In Value Terms, 2012-2022
7. Per Capita Consumption, 2012-2022
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2022
22. Production, In Value Terms, 2012–2022
23. Imports, In Physical Terms, 2012–2022
24. Imports, In Value Terms, 2012–2022
25. Imports, In Physical Terms, By Country, 2022
26. Imports, In Physical Terms, By Country, 2012–2022
27. Imports, In Value Terms, By Country, 2012–2022
28. Import Prices, By Country Of Origin, 2012–2022
29. Exports, In Physical Terms, 2012–2022
30. Exports, In Value Terms, 2012–2022
31. Exports, In Physical Terms, By Country, 2022
32. Exports, In Physical Terms, By Country, 2012–2022
33. Exports, In Value Terms, By Country, 2012–2022
34. Export Prices, By Country Of Destination, 2012–2022