Republic of Korea: Concrete Pump Market 2024

Concrete Pump Market Size in Republic of Korea

The South Korean concrete pump market dropped to $X.8B in 2022, falling by X% against the previous year. Over the period under review, consumption showed a deep contraction. Concrete pump consumption peaked at $X.1B in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Concrete Pump Production in Republic of Korea

In value terms, concrete pump production fell to $X in 2022 estimated in export price. Over the period under review, production recorded a abrupt descent. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. Concrete pump production peaked at $X.5B in 2012; however, from 2013 to 2022, production failed to regain momentum.

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Concrete Pump Exports

Exports from Republic of Korea

In 2022, after two years of growth, there was significant decline in shipments abroad of concrete pumps, when their volume decreased by X% to X units. In general, total exports indicated a tangible increase from 2012 to 2022: its volume 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, exports increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2021 when exports increased by X%. As a result, the exports attained the peak of X units, and then shrank in the following year.

In value terms, concrete pump exports rose slightly to $X in 2022. Over the period under review, total exports indicated prominent growth from 2012 to 2022: its value 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, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The exports peaked in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Canada (X units) was the main destination for concrete pump exports from South Korea, with a X% share of total exports. Moreover, concrete pump exports to Canada exceeded the volume sent to the second major destination, the United States (X units), threefold. The third position in this ranking was taken by Israel (X units), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Canada amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Israel (X% per year).

In value terms, Canada ($X) remains the key foreign market for concrete pumps exports from South Korea, comprising X% of total exports. The second position in the ranking was held by the United States ($X), with a X% share of total exports. It was followed by Israel, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Canada amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Israel (X% per year).

Export Prices by Country

In 2022, the average concrete pump export price amounted to $X per unit, increasing by X% against the previous year. Overall, export price indicated noticeable 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, concrete pump export price decreased by X% against 2018 indices. The most prominent rate of growth was recorded in 2018 an increase of X%. As a result, the export price attained the peak level of $X per unit. From 2019 to 2022, the average export prices remained at a lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Austria ($X per unit) and France ($X per unit), while the average price for exports to the UK ($X per unit) and Sweden ($X 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 the United States (X%), while the prices for the other major destinations experienced more modest paces of growth.

Concrete Pump Imports

Imports into Republic of Korea

In 2022, imports of concrete pumps into South Korea totaled X units, approximately reflecting 2021 figures. Overall, imports continue to indicate a noticeable slump. The pace of growth appeared the most rapid in 2020 when imports increased by X%. Imports peaked at X units in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, concrete pump imports expanded sharply to $X in 2022. In general, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 when imports increased by X% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Italy (X units), Australia (X units) and Canada (X units) were the main suppliers of concrete pump imports to South Korea, together comprising X% of total imports.

From 2012 to 2022, the biggest increases were recorded for Canada (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest concrete pump suppliers to South Korea were Italy ($X), Australia ($X) and the Czech Republic ($X), with a combined X% share of total imports. Canada, Germany, the United States and China lagged somewhat behind, together comprising a further X%.

Canada, with a CAGR of X%, saw the highest growth rate of 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 concrete pump import price amounted to $X per unit, surging by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2018 an increase of X%. Over the period under review, average import prices attained the maximum in 2022 and is likely to see steady growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per unit), while the price for China ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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