Republic of Korea: Self-Propelled Rock Cutter Market 2024

Self-Propelled Rock Cutter Market Size in Republic of Korea

In 2022, after two years of growth, there was significant decline in the South Korean self-propelled rock cutter market, when its value decreased by X% to $X. Overall, consumption, however, posted a remarkable increase. Self-propelled rock cutter consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Self-Propelled Rock Cutter Production in Republic of Korea

In value terms, self-propelled rock cutter production amounted to $X in 2022 estimated in export price. In general, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of X%. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

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Self-Propelled Rock Cutter Exports

Exports from Republic of Korea

In 2022, the amount of self-propelled coal or rock cutters and tunnelling machinery exported from South Korea fell markedly to X units, with a decrease of X% on 2021. In general, exports recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, self-propelled rock cutter exports reduced markedly to $X in 2022. Over the period under review, exports continue to indicate a abrupt descent. The growth pace was the most rapid in 2019 when exports increased by X%. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Malaysia (X units), Norway (X units) and the United Arab Emirates (X units) were the main destinations of self-propelled rock cutter exports from South Korea, with a combined X% share of total exports. Moreover, self-propelled rock cutter exports in Malaysia exceeded the figures recorded by the second-largest exporter, Norway, twofold.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of X%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Chile ($X) remains the key foreign market for self-propelled coal or rock cutters and tunnelling machinery exports from South Korea, comprising X% of total exports. The second position in the ranking was held by Norway ($X), with a X% share of total exports. It was followed by Indonesia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Chile totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Norway (X% per year) and Indonesia (X% per year).

Export Prices by Country

In 2022, the average self-propelled rock cutter export price amounted to $X per unit, reducing by X% against the previous year. Over the period under review, the export price, however, showed a moderate expansion. The pace of growth was the most pronounced in 2016 an increase of X% against the previous year. The export price peaked at $X per unit in 2021, and then shrank in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Chile ($X per unit), while the average price for exports to Ireland ($X 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 the United Arab Emirates (X%), while the prices for the other major destinations experienced more modest paces of growth.

Self-Propelled Rock Cutter Imports

Imports into Republic of Korea

After two years of growth, purchases abroad of self-propelled coal or rock cutters and tunnelling machinery decreased by X% to X units in 2022. Overall, imports, however, saw a prominent increase. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. Imports peaked at X units in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, self-propelled rock cutter imports plummeted to $X in 2022. In general, imports, however, showed a significant increase. The pace of growth appeared the most rapid in 2020 when imports increased by X% against the previous year. Imports peaked at $X in 2021, and then declined notably in the following year.

Imports by Country

Germany (X units), China (X units) and Sweden (X units) were the main suppliers of self-propelled rock cutter imports to South Korea, together accounting for X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Austria ($X) and Germany ($X) were the largest self-propelled rock cutter suppliers to South Korea, together comprising X% of total imports.

Austria, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average self-propelled rock cutter import price amounted to $X per unit, leveling off at the previous year. Over the period under review, the import price, however, continues to indicate a resilient increase. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. As a result, import price attained the peak level of $X per unit, leveling off in the following year.

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 Japan ($X per unit), while the price for Australia ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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