Republic of Korea - Machine Tools For Working Metal - Market Analysis, Forecast, Size, Trends and Insights
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View PricingPrice for Machine-Tool for Working Metal in South Korea - 2022
Contents:
- Price for Machine-Tool for Working Metal in South Korea (FOB) - 2022
- Price for Machine-Tool for Working Metal in South Korea (CIF) - 2022
- Exports of Machine-Tool for Working Metal in South Korea
- Imports of Machine-Tool for Working Metal in South Korea
Price for Machine-Tool for Working Metal in South Korea (FOB) - 2022
In December 2022, the average machine-tool for working metal export price amounted to $47,802 per unit, rising by 20% against the previous month. Overall, the export price saw a notable increase. The most prominent rate of growth was recorded in January 2022 an increase of 71% against the previous month. The export price peaked at $86,356 per unit in February 2022; however, from March 2022 to December 2022, the export prices failed to regain momentum.
There were significant differences in the average prices for the major external markets. In December 2022, the country with the highest price was Hungary ($99,890 per unit), while the average price for exports to Russia ($18,706 per unit) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to Hungary (+57.0%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Machine-Tool for Working Metal in South Korea (CIF) - 2022
The average machine-tool for working metal import price stood at $40,866 per unit in December 2022, surging by 15% against the previous month. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in January 2022 an increase of 1,722% against the previous month. As a result, import price attained the peak level of $714K per unit. From February 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 Germany ($98,804 per unit), while the price for China ($31,254 per unit) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by Germany (+8.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Machine-Tool for Working Metal in South Korea
In 2022, shipments abroad of machine tools for working metal decreased by -19.9% to 15K units for the first time since 2018, thus ending a three-year rising trend. The total export volume increased at an average annual rate of +2.5% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 33% against the previous year. As a result, the exports attained the peak of 19K units, and then contracted remarkably in the following year.
In value terms, machine-tool for working metal exports fell slightly to $457M in 2022. Overall, exports recorded a abrupt descent. The pace of growth appeared the most rapid in 2021 when exports increased by 4.3% against the previous year. Over the period under review, the exports hit record highs at $547M in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.
| Export of Machine-Tool for Working Metal in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 153 | 89.3 | 78.8 | 74.6 | -21.3% |
| United States | 37.6 | 62.8 | 46.0 | 62.1 | 18.2% |
| Turkey | 16.7 | 7.3 | 19.7 | 44.6 | 38.7% |
| Mexico | 42.1 | 28.6 | 16.2 | 43.5 | 1.1% |
| Hungary | 23.5 | 13.8 | 44.9 | 42.7 | 22.0% |
| India | 45.8 | 42.5 | 28.6 | 34.6 | -8.9% |
| Vietnam | 48.8 | 31.3 | 39.8 | 31.1 | -13.9% |
| Thailand | 14.3 | 8.3 | 17.7 | 19.2 | 10.3% |
| Taiwan (Chinese) | 8.4 | 17.0 | 11.9 | 14.9 | 21.1% |
| Japan | 20.3 | 10.8 | 8.8 | 11.8 | -16.5% |
| Slovakia | 0.2 | 0.1 | 6.9 | 10.6 | 275.6% |
| Russia | 4.8 | 3.3 | 5.4 | 5.6 | 5.3% |
| Poland | 16.9 | 9.0 | 14.9 | 4.8 | -34.3% |
| Others | 114 | 115 | 118 | 56.9 | -20.7% |
| Total | 547 | 439 | 458 | 457 | -5.8% |
Top Export Markets for Machine-Tool for Working Metal from South Korea in 2022:
- Turkey (2.1K units)
- China (1.9K units)
- Hungary (1.7K units)
- United States (1.6K units)
- India (1.5K units)
- Mexico (1.1K units)
- Vietnam (1.0K units)
- Thailand (0.6K units)
- Taiwan (Chinese) (0.4K units)
- Japan (0.3K units)
- Russia (0.3K units)
- Slovakia (0.3K units)
- Poland (0.2K units)
Imports of Machine-Tool for Working Metal in South Korea
After three years of growth, overseas purchases of machine tools for working metal decreased by -1.3% to 5.5K units in 2022. The total import volume increased at an average annual rate of +5.7% from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The pace of growth appeared the most rapid in 2020 when imports increased by 10% against the previous year. Over the period under review, imports reached the peak figure at 5.6K units in 2021, and then shrank modestly in the following year.
In value terms, machine-tool for working metal imports rose to $175M in 2022. The total import value increased at an average annual rate of +2.6% from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The growth pace was the most rapid in 2021 when imports increased by 16% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.
| Import of Machine-Tool for Working Metal in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 24.1 | 30.1 | 43.6 | 66.5 | 40.3% |
| Japan | 49.6 | 49.9 | 66.9 | 50.3 | 0.5% |
| Italy | 13.8 | 8.0 | 8.3 | 11.7 | -5.4% |
| Germany | 9.8 | 17.0 | 10.8 | 10.7 | 3.0% |
| Austria | 10.6 | 7.0 | 11.5 | 10.3 | -1.0% |
| Turkey | 1.8 | 2.3 | 2.6 | 5.4 | 44.2% |
| Taiwan (Chinese) | 5.9 | 4.8 | 4.7 | 3.6 | -15.2% |
| Belgium | 1.1 | 0.1 | 0.8 | 3.1 | 41.3% |
| United States | 13.0 | 7.3 | 5.8 | 1.9 | -47.3% |
| Switzerland | 6.5 | 5.7 | 6.3 | 1.1 | -44.7% |
| Brazil | N/A | N/A | N/A | 0.8 | 0% |
| Russia | 0.7 | 2.7 | 0.1 | N/A | -62.2% |
| Romania | 17.4 | N/A | N/A | N/A | 0% |
| Others | 7.9 | 10.8 | 7.2 | 9.9 | 7.8% |
| Total | 162 | 146 | 169 | 175 | 2.6% |
Top Suppliers of Machine-Tool for Working Metal to South Korea in 2022:
- China (2101.0 units)
- Japan (1802.0 units)
- Italy (268.0 units)
- Germany (239.0 units)
- Turkey (202.0 units)
- Brazil (170.0 units)
- Austria (145.0 units)
- Belgium (141.0 units)
- Taiwan (Chinese) (112.0 units)
- United States (63.0 units)
- Switzerland (45.0 units)
- Russia (1.0 units)
This report provides an in-depth analysis of the market for machine-tool for working 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 28413120 - Numerically controlled bending, folding, straightening or flattening machines for working flat metal products (including presses)
- Prodcom 28413140 - Numerically controlled bending, folding, straightening or flattening machines for working metal (including presses) (excluding those for working flat metal products)
- Prodcom 28413160 - Non-numerically controlled bending, folding, straightening or flattening machines for working flat metal products (including presses)
- Prodcom 28413180 - Non-numerically controlled bending, folding, straightening or flattening machines for working metal (including presses) (excluding those for working flat metal products)
- Prodcom 28413220 - Numerically controlled shearing machines for working metal (including presses) (excluding combined punching and shearing machines)
- Prodcom 28413240 - Numerically controlled punching or notching machines for working metal (including presses, combined punching and shearing machines)
- Prodcom 28413260 - Non-numerically controlled shearing machines for working metal (including presses) (excluding combined punching and shearing machines)
- Prodcom 28413280 - Non-numerically controlled punching or notching machines for working metal (including presses, combined punching and shearing machines)
- Prodcom 28413310 - Numerically controlled forging or die-stamping machines and hammers for working metal (including presses)
- Prodcom 28413320 - Non-numerically controlled forging or die-stamping machines and hammers for working metal (including presses)
- Prodcom 28413330 -
- Prodcom 28413340 -
- Prodcom 28413370 -
- Prodcom 28413380 -
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
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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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In 2016, the global machine-tool for working metal imports amounted to X tons, falling by -X% against the previous year figure. The total import volume increased at an average annual rate of +X>
940
In 2016, the global machine-tool for working metal imports amounted to X tons, falling by -X% against the previous year figure. The total import volume increased at an average annual rate of +X>
809
In 2016, the global machine-tool for working metal imports amounted to X tons, falling by -X% against the previous year figure. The total import volume increased at an average annual rate of +X>
940
In 2016, the global machine-tool for working metal imports amounted to X tons, falling by -X% against the previous year figure. The total import volume increased at an average annual rate of +X>
