Report Update: May 1, 2024

Republic of Korea - Wheeled Loaders, Crawler Shovel Loaders, Front-End Loaders - Market Analysis, Forecast, Size, Trends And Insights

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Wheeled Loader Price in South Korea - 2022

Wheeled Loader Price in South Korea (FOB) - 2022

The average wheeled loader export price stood at $56,101 per unit in 2022, surging by 14% against the previous year. Over the last decade, it increased at an average annual rate of +5.3%. The pace of growth was the most pronounced in 2021 when the average export price increased by 30% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is likely to see steady growth in the near future.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Turkey ($88,433 per unit), while the average price for exports to Brazil ($31,076 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 Turkey (+10.3%), while the prices for the other major destinations experienced more modest paces of growth.

Wheeled Loader Price in South Korea (CIF) - 2022

In 2022, the average wheeled loader import price amounted to $48,506 per unit, which is down by -7.8% against the previous year. Overall, import price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wheeled loader import price decreased by -22.2% against 2018 indices. The growth pace was the most rapid in 2014 an increase of 59%. The import price peaked at $62,380 per unit in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Sweden ($106,884 per unit), while the price for the Czech Republic ($26,573 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+11.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Wheeled Loader Exports in South Korea

In 2022, the amount of wheeled loaders, crawler shovel loaders, front-end loaders exported from South Korea fell markedly to 6.1K units, declining by -16.3% against 2021 figures. Over the period under review, exports faced a abrupt descent. The smallest decline of -5.8% was in 2020. Over the period under review, the exports reached the peak figure at 9.1K units in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, wheeled loader exports fell slightly to $341M in 2022. Overall, exports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when exports increased by 11%. As a result, the exports reached the peak of $358M, and then declined slightly in the following year.

Export of Wheeled Loader in South Korea (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	120	112	116	109	-3.2%
Belgium	81.1	90.5	74.1	69.1	-5.2%
United Kingdom	17.2	19.9	25.9	24.3	12.2%
Australia	10.6	11.1	17.9	16.8	16.6%
Russia	9.8	6.2	17.0	16.0	17.8%
Saudi Arabia	26.2	10.9	6.8	12.6	-21.7%
Egypt	6.0	8.0	11.9	11.2	23.1%
South Africa	6.8	6.3	7.7	7.2	1.9%
Chile	5.4	1.6	7.7	7.2	10.1%
Algeria	3.7	3.3	4.5	4.2	4.3%
Others	62.1	54.1	68.7	63.1	0.5%
Total	350	324	358	341	-0.9%

Top Export Markets for Wheeled Loader from South Korea in 2022:

United States (1974.0 units)
Belgium (1280.0 units)
Saudi Arabia (324.0 units)
Russia (306.0 units)
United Kingdom (294.0 units)
Egypt (217.0 units)
Australia (198.0 units)
Algeria (120.0 units)
South Africa (107.0 units)
Chile (94.0 units)

Wheeled Loader Imports in South Korea

Wheeled loader imports into South Korea amounted to 1.3K units in 2022, approximately equating 2021 figures. The total import volume increased at an average annual rate of +2.8% over the period from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 9.4% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to continue growth in years to come.

In value terms, wheeled loader imports dropped to $65M in 2022. Over the period under review, imports, however, saw a perceptible decline. The pace of growth appeared the most rapid in 2021 with an increase of 17%. Over the period under review, imports reached the peak figure at $71M in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Import of Wheeled Loader in South Korea (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	29.9	31.7	29.3	27.3	-3.0%
China	14.3	4.3	15.3	14.1	-0.5%
Sweden	9.2	11.5	9.6	9.1	-0.4%
Czech Republic	9.4	8.3	8.4	7.9	-5.6%
Japan	6.1	3.4	6.2	5.7	-2.2%
Others	1.7	1.0	1.4	1.1	-13.5%
Total	70.6	60.1	70.2	65.2	-2.6%

Top Suppliers of Wheeled Loader to South Korea in 2022:

United States (712.0 units)
Czech Republic (296.0 units)
China (163.0 units)
Sweden (85.0 units)
Japan (58.0 units)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the wheeled loader 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 28922550 - Wheeled loaders, crawler shovel loaders, front-end loaders

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
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