Republic of Korea - Household Washing and Drying Machines - Market Analysis, Forecast, Size, Trends and Insights
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View PricingPrice for Washing and Drying Machine in South Korea - 2021
Contents:
- Price for Washing and Drying Machine in South Korea (FOB) - 2022
- Price for Washing and Drying Machine in South Korea (CIF) - 2022
- Exports of Washing and Drying Machine in South Korea
- Imports of Washing and Drying Machine in South Korea
Price for Washing and Drying Machine in South Korea (FOB) - 2022
The average washing and drying machine export price stood at $375 per unit in 2022, with a decrease of -6.7% against the previous year. In general, the export price, however, posted a strong expansion. The most prominent rate of growth was recorded in 2015 an increase of 40% against the previous year. Over the period under review, the average export prices reached the maximum at $402 per unit in 2021, and then fell in the following year.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($12 per unit), while the average price for exports to the United Arab Emirates ($3.4 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 Russia (+9.2%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Washing and Drying Machine in South Korea (CIF) - 2022
The average washing and drying machine import price stood at $219 per unit in 2022, remaining stable against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.6%. The most prominent rate of growth was recorded in 2016 an increase of 29%. The import price peaked at $251 per unit in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Poland ($6.4 per unit), while the price for Vietnam ($3 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+2.0%), while the prices for the other major suppliers experienced a decline.
Exports of Washing and Drying Machine in South Korea
In 2022, exports of household washing and drying machines from South Korea contracted slightly to 411K units, shrinking by -3.7% compared with the previous year's figure. Over the period under review, exports recorded a deep setback. The pace of growth was the most pronounced in 2021 with an increase of 7.9% against the previous year. The exports peaked at 526K units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.
In value terms, washing and drying machine exports fell to $154M in 2022. Overall, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 25%. As a result, the exports reached the peak of $172M, and then declined in the following year.
| Export of Washing and Drying Machine in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 25.8 | 20.0 | 28.7 | 28.4 | 3.3% |
| United States | 19.9 | 19.8 | 18.4 | 20.0 | 0.2% |
| Poland | 12.3 | 23.2 | 15.9 | 15.6 | 8.2% |
| Australia | 7.1 | 10.8 | 14.2 | 13.5 | 23.9% |
| Taiwan (Chinese) | 14.7 | 13.7 | 8.9 | 9.8 | -12.6% |
| Czech Republic | 7.1 | 6.1 | 11.0 | 9.2 | 9.0% |
| Italy | 8.5 | 11.3 | 8.8 | 8.7 | 0.8% |
| Saudi Arabia | 5.5 | 7.4 | 3.9 | 5.4 | -0.6% |
| United Arab Emirates | 11.0 | 6.0 | 1.4 | 5.4 | -21.1% |
| Russia | 1.2 | 1.9 | 5.2 | 5.0 | 60.9% |
| United Kingdom | 4.8 | 2.9 | 4.5 | 4.4 | -2.9% |
| Sweden | 4.2 | 3.3 | 4.3 | 4.2 | 0.0% |
| Mexico | 4.3 | 2.5 | 1.3 | 2.3 | -18.8% |
| Others | 25.9 | 8.1 | 45.2 | 22.4 | -4.7% |
| Total | 152 | 137 | 172 | 154 | 0.4% |
Top Export Markets for Washing and Drying Machine from South Korea in 2022:
- United States (3.6M units)
- Poland (2.9M units)
- China (2.5M units)
- Czech Republic (2.2M units)
- United Arab Emirates (1.6M units)
- Australia (1.5M units)
- Italy (1.5M units)
- Taiwan (Chinese) (1.2M units)
- Saudi Arabia (0.9M units)
- Sweden (0.7M units)
- Mexico (0.6M units)
- United Kingdom (0.6M units)
- Russia (0.6M units)
Imports of Washing and Drying Machine in South Korea
In 2022, imports of household washing and drying machines into South Korea amounted to 759K units, increasing by 11% against the year before. In general, total imports indicated a resilient expansion from 2019 to 2022: its volume increased at an average annual rate of +19.1% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -8.9% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 85% against the previous year. As a result, imports reached the peak of 833K units. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
In value terms, washing and drying machine imports rose markedly to $166M in 2022. Overall, total imports indicated a remarkable increase from 2019 to 2022: its value increased at an average annual rate of +17.0% 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 decreased by -8.4% against 2020 indices. The growth pace was the most rapid in 2020 with an increase of 75%. As a result, imports attained the peak of $181M. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
| Import of Washing and Drying Machine in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 69.6 | 83.1 | 84.3 | 81.6 | 5.4% |
| Thailand | 9.7 | 10.2 | 13.1 | 13.1 | 10.5% |
| Poland | 11.4 | 5.9 | 3.9 | 6.3 | -17.9% |
| Vietnam | 1.2 | 0.8 | 0.1 | 4.4 | 54.2% |
| Others | 11.8 | 81.6 | 49.7 | 60.8 | 72.7% |
| Total | 104 | 181 | 151 | 166 | 16.9% |
Top Suppliers of Washing and Drying Machine to South Korea in 2022:
- China (20.8M units)
- Thailand (3.1M units)
- Vietnam (1.5M units)
- Poland (1.0M units)
This report provides an in-depth analysis of the market for washing and drying machine 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 27511300 - Cloth washing and drying machines, of the household type
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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842
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