Report Update: Apr 1, 2024

Republic of Korea - Seats For Motor Vehicles - Market Analysis, Forecast, Size, Trends And Insights

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Vehicle Seat Price in South Korea - 2022

Vehicle Seat Price in South Korea (CIF) - 2022

The average vehicle seat import price stood at $244 per unit in December 2022, reducing by -6.1% against the previous month. Overall, the import price saw a noticeable contraction. The pace of growth was the most pronounced in October 2022 when the average import price increased by 18% month-to-month. The import price peaked at $352 per unit in December 2021; however, from January 2022 to December 2022, import prices failed to regain momentum.

Prices varied noticeably by the country of origin: the country with the highest price was Taiwan (Chinese) ($437 per unit), while the price for the United States ($123 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 Taiwan (Chinese) (+1.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Vehicle Seat Price in South Korea (FOB) - 2022

The average vehicle seat export price stood at $207 per unit in 2022, increasing by 4.1% against the previous year. Over the period under review, the export price saw a pronounced expansion. The growth pace was the most rapid in 2018 when the average export price increased by 78% against the previous year. As a result, the export price reached the peak level of $306 per unit. From 2019 to 2022, the average export prices failed to regain momentum.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Malaysia ($222 per unit) and the Philippines ($207 per unit), while the average price for exports to Brazil ($203 per unit) and India ($203 per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Brazil (+4.6%), while the prices for the other major destinations experienced more modest paces of growth.

Vehicle Seat Imports in South Korea

For the fourth year in a row, South Korea recorded growth in overseas purchases of seats for motor vehicles, which increased by 7.6% to 112K units in 2022. In general, imports recorded a significant expansion. The growth pace was the most rapid in 2021 when imports increased by 55% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, vehicle seat imports rose rapidly to $39M in 2022. Over the period under review, imports recorded a significant expansion. The pace of growth appeared the most rapid in 2021 with an increase of 85% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to continue growth in years to come.

Import of Vehicle Seat in South Korea (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	7.4	7.1	16.2	16.0	29.3%
France	4.1	5.3	7.8	8.0	25.0%
Taiwan (Chinese)	N/A	2.0	3.3	4.0	41.4%
Spain	0.3	0.5	1.0	3.5	126.8%
United States	0.7	0.5	2.8	2.6	54.9%
Germany	1.0	1.5	1.4	1.2	6.3%
Poland	N/A	0.1	1.1	0.7	164.6%
Turkey	0.8	0.6	1.1	0.5	-14.5%
Others	2.5	2.3	2.0	2.4	-1.4%
Total	16.7	19.9	36.7	39.0	32.7%

Top Suppliers of Vehicle Seat to South Korea in 2022:

China (46.2K units)
France (22.9K units)
Taiwan (Chinese) (11.6K units)
Spain (10.0K units)
United States (7.6K units)
Germany (3.5K units)
Poland (1.9K units)
Turkey (1.5K units)

Vehicle Seat Exports in South Korea

In 2022, exports of seats for motor vehicles from South Korea reduced remarkably to 26K units, waning by -52.4% on the previous year's figure. In general, exports recorded a abrupt descent. The most prominent rate of growth was recorded in 2021 when exports increased by 178%. As a result, the exports attained the peak of 55K units, and then contracted remarkably in the following year.

In value terms, vehicle seat exports contracted significantly to $5.4M in 2022. Over the period under review, exports showed a dramatic shrinkage. The pace of growth appeared the most rapid in 2021 with an increase of 99% against the previous year. Over the period under review, the exports hit record highs at $14M in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Export of Vehicle Seat in South Korea (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Japan	3,806	1,257	1,580	1,809	-22.0%
Vietnam	2,533	917	303	1,626	-13.7%
India	3,077	503	500	466	-46.7%
United States	2,071	1,063	874	416	-41.4%
Indonesia	334	87.4	275	297	-3.8%
Brazil	17.4	9.7	93.9	259	146.0%
China	99.7	115	33.8	129	9.0%
Germany	26.6	21.8	62.4	102	56.5%
Taiwan (Chinese)	1,175	461	1.1	7.1	-81.8%
Others	425	1,084	7,283	337	-7.4%
Total	13,565	5,520	11,006	5,448	-26.2%

Top Export Markets for Vehicle Seat from South Korea in 2022:

Taiwan (Chinese) (undefinedK units)
Japan (8.7K units)
Vietnam (7.9K units)
India (2.3K units)
United States (2.0K units)
Indonesia (1.4K units)
Brazil (1.3K units)
China (0.6K units)
Germany (0.5K units)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the vehicle seat 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 29321000 - Seats for motor vehicles

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
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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
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 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
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 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
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, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023