Republic of Korea - Relays - Market Analysis, Forecast, Size, Trends and Insights
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View PricingRelay Price in South Korea - 2022
Contents:
- Relay Price in South Korea (CIF) - 2022
- Relay Price in South Korea (FOB) - 2022
- Relay Imports in South Korea
- Relay Exports in South Korea
Relay Price in South Korea (CIF) - 2022
The average relay import price stood at $1.9 per unit in December 2022, rising by 25% against the previous month. Over the period under review, the import price recorded mild growth. The pace of growth appeared the most rapid in October 2022 when the average import price increased by 27% m-o-m. As a result, import price attained the peak level of $2.1 per unit. From November 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 Philippines ($3.9 per unit), while the price for China ($1.2 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 Vietnam (+8.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Relay Price in South Korea (FOB) - 2022
The average relay export price stood at $1.6 per unit in December 2022, approximately mirroring the previous month. In general, the export price, however, saw a slight decrease. The pace of growth appeared the most rapid in June 2022 an increase of 8.7% m-o-m. Over the period under review, the average export prices attained the maximum at $1.9 per unit in August 2022; however, from September 2022 to December 2022, the export prices failed to regain momentum.
There were significant differences in the average prices for the major overseas markets. In December 2022, the country with the highest price was the Czech Republic ($3.7 per unit), while the average price for exports to the United States ($866 per thousand units) 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 Poland (+3.5%), while the prices for the other major destinations experienced mixed trend patterns.
Relay Imports in South Korea
For the fourth year in a row, South Korea recorded growth in purchases abroad of relays, which increased by 4.8% to 181M units in 2022. Over the period under review, total imports indicated a resilient expansion from 2019 to 2022: its volume increased at an average annual rate of +11.8% 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 +39.6% against 2019 indices. The pace of growth was the most pronounced in 2021 when imports increased by 33% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.
In value terms, relay imports reduced to $304M in 2022. The total import value increased at an average annual rate of +6.0% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 26%. As a result, imports reached the peak of $321M, and then fell in the following year.
| Import of Relay in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 62.4 | 76.7 | 104 | 101 | 17.4% |
| Japan | 72.8 | 77.4 | 97.7 | 85.2 | 5.4% |
| Philippines | 12.3 | 13.9 | 17.7 | 15.9 | 8.9% |
| Malaysia | 18.6 | 10.6 | 12.3 | 9.6 | -19.8% |
| Thailand | 6.6 | 7.6 | 9.0 | 8.9 | 10.5% |
| Indonesia | 7.0 | 6.4 | 8.1 | 7.6 | 2.8% |
| Taiwan (Chinese) | 1.6 | 1.3 | 3.2 | 4.4 | 40.1% |
| Portugal | 4.9 | 3.0 | 3.5 | 3.9 | -7.3% |
| Others | 68.9 | 56.9 | 65.2 | 67.9 | -0.5% |
| Total | 255 | 254 | 321 | 304 | 6.0% |
Top Suppliers of Relay to South Korea in 2022:
- China (82.9M units)
- Japan (56.5M units)
- Thailand (8.0M units)
- Malaysia (7.5M units)
- Indonesia (5.0M units)
- Philippines (3.9M units)
- Portugal (3.7M units)
- Taiwan (Chinese) (2.7M units)
Relay Exports in South Korea
For the fourth year in a row, South Korea recorded growth in overseas shipments of relays, which increased by 13% to 120M units in 2022. Overall, total exports indicated a prominent increase from 2019 to 2022: its volume increased at an average annual rate of +13.5% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +46.3% against 2019 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 29% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the immediate term.
In value terms, relay exports rose slightly to $198M in 2022. Over the period under review, total exports indicated buoyant growth from 2019 to 2022: its value increased at an average annual rate of +13.8% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +47.5% against 2019 indices. The pace of growth was the most pronounced in 2021 when exports increased by 33%. The exports peaked in 2022 and are expected to retain growth in years to come.
| Export of Relay in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 51.9 | 52.5 | 67.6 | 56.2 | 2.7% |
| Vietnam | 7.7 | 12.2 | 26.9 | 35.1 | 65.8% |
| United States | 25.2 | 25.6 | 30.0 | 30.8 | 6.9% |
| India | 6.7 | 5.0 | 7.5 | 10.8 | 17.3% |
| Slovakia | 3.3 | 5.6 | 7.4 | 7.3 | 30.3% |
| Mexico | 4.4 | 4.5 | 5.1 | 5.3 | 6.4% |
| Spain | 2.0 | 2.2 | 3.2 | 5.0 | 35.7% |
| Philippines | 1.7 | 1.4 | 2.0 | 4.9 | 42.3% |
| Germany | 8.2 | 6.4 | 3.0 | 4.5 | -18.1% |
| Hong Kong SAR | 0.6 | 0.7 | 1.9 | 4.3 | 92.8% |
| Russia | 2.1 | 2.9 | 3.8 | 1.1 | -19.4% |
| Others | 20.5 | 24.0 | 32.1 | 33.2 | 17.4% |
| Total | 134 | 143 | 191 | 198 | 13.9% |
Top Export Markets for Relay from South Korea in 2022:
- China (31.5M units)
- United States (29.2M units)
- Vietnam (16.6M units)
- India (8.8M units)
- Slovakia (5.2M units)
- Philippines (5.0M units)
- Mexico (3.4M units)
- Hong Kong SAR (2.7M units)
- Germany (2.3M units)
- Spain (2.2M units)
- Russia (1.2M units)
This report provides an in-depth analysis of the relay market 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 27122433 - Relays for a voltage . .60 V and for a current . 2 A
- Prodcom 27122435 - Relays for a voltage . .60 V and for a current > 2 A
- Prodcom 27122450 - Relays and contactors for a voltage > .60 V but . 1 kV
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.
-
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
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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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