Republic of Korea: Shaft Coupling Market 2024

Shaft Coupling Market Size in Republic of Korea

The South Korean shaft coupling market shrank to $X in 2022, waning by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Shaft Coupling Production in Republic of Korea

In value terms, shaft coupling production fell to $X in 2022 estimated in export price. In general, production, however, recorded a strong increase. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Shaft Coupling Exports

Exports from Republic of Korea

In 2022, the amount of clutches and shaft couplings exported from South Korea contracted to X tons, reducing by X% on 2021. Over the period under review, exports continue to indicate a perceptible reduction. The pace of growth appeared the most rapid in 2017 with an increase of X%. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, shaft coupling exports expanded to $X in 2022. In general, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X%. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

China (X tons), Japan (X tons) and India (X tons) were the main destinations of shaft coupling exports from South Korea, with a combined X% share of total exports. Brazil, the United States, Russia, Hong Kong SAR, Thailand, Mexico, Indonesia and South Africa lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Mexico (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X), Japan ($X) and Russia ($X) were the largest markets for shaft coupling exported from South Korea worldwide, together accounting for X% of total exports.

Russia, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average shaft coupling export price stood at $X per ton in 2022, increasing by X% against the previous year. Over the period under review, export price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, shaft coupling export price increased by X% against 2017 indices. The growth pace was the most rapid in 2019 when the average export price increased by X% against the previous year. The export price peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Hong Kong SAR ($X per ton) was amongst the lowest.

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

Shaft Coupling Imports

Imports into Republic of Korea

After three years of growth, overseas purchases of clutches and shaft couplings decreased by X% to X tons in 2022. Overall, imports showed a deep reduction. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, shaft coupling imports stood at $X in 2022. In general, imports continue to indicate a abrupt decrease. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest shaft coupling supplier to South Korea, with a X% share of total imports. Moreover, shaft coupling imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. Thailand (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Thailand (X% per year).

In value terms, Germany ($X), China ($X) and Japan ($X) were the largest shaft coupling suppliers to South Korea, with a combined X% share of total imports. The United States, the UK, Thailand, Italy and France lagged somewhat behind, together comprising a further X%.

Among the main suppliers, Thailand, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average shaft coupling import price stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2014 an increase of X% against the previous year. The import price peaked at $X per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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