Republic of Korea: Market for Cooling Towers, Vacuum-Vapour Plants, And Other Machinery for Material Treatment by Heating or Cooling Process 2024

Market Size for Cooling Towers, Vacuum-Vapour Plants, And Other Machinery for Material Treatment by Heating or Cooling Process in Republic of Korea

After two years of growth, the South Korean market for cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process decreased by X% to $X in 2022. In general, consumption showed a drastic downturn. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market remained at a lower figure.

Production of Cooling Towers, Vacuum-Vapour Plants, And Other Machinery for Material Treatment by Heating or Cooling Process in Republic of Korea

In value terms, production of cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process rose sharply to $X in 2022 estimated in export price. Over the period under review, production, however, saw a deep reduction. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2022, production of growth remained at a lower figure.

Join Us at HANNOVER MESSE 2024

Don’t miss your chance to connect with us directly. Schedule a personal meeting to dive deeper into how solutions.
Hall 002, Stand C10. 22 - 26 April 2024 | Hannover, Germany

Book Your Meeting

Exports of Cooling Towers, Vacuum-Vapour Plants, And Other Machinery for Material Treatment by Heating or Cooling Process

Exports from Republic of Korea

In 2022, approx. X units of cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process were exported from South Korea; jumping by X% compared with 2021 figures. In general, exports saw notable growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, exports of cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process declined modestly to $X in 2022. Over the period under review, exports, however, showed a deep contraction. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, the exports of reached the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Mexico (X units) was the main destination for exports of cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process from South Korea, accounting for a X% share of total exports. Moreover, exports of cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process to Mexico exceeded the volume sent to the second major destination, China (X units), ninefold. Japan (X units) ranked third in terms of total exports with a X% share.

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

In value terms, China ($X), Mexico ($X) and the United States ($X) were the largest markets for machinery for material treatment by heating or cooling process exported from South Korea worldwide, together comprising X% of total exports.

Among the main countries of destination, Mexico, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process stood at $X per unit in 2022, shrinking by X% against the previous year. Overall, the export price continues to indicate a drastic downturn. The most prominent rate of growth was recorded in 2013 when the average export price increased by X%. As a result, the export price attained the peak level of $X per unit. From 2014 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Mexico ($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 States (X%), while the prices for the other major destinations experienced a decline.

Imports of Cooling Towers, Vacuum-Vapour Plants, And Other Machinery for Material Treatment by Heating or Cooling Process

Imports into Republic of Korea

In 2022, imports of cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process into South Korea rose to X units, surging by X% on 2021 figures. Overall, imports continue to indicate a prominent increase. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, imports of cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process totaled $X in 2022. Over the period under review, imports, however, saw a slight descent. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, imports of hit record highs at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of machinery for material treatment by heating or cooling process to South Korea, with a X% share of total imports. Moreover, imports of cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process from China exceeded the figures recorded by the second-largest supplier, Japan (X units), more than tenfold. The third position in this ranking was held by Germany (X units), with a X% share.

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

In value terms, China ($X), Japan ($X) and Germany ($X) appeared to be the largest machinery for material treatment by heating or cooling process suppliers to South Korea, with a combined X% share of total imports. The United States, France, Austria and Italy lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, Austria, 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 import price for cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process stood at $X per unit in 2022, rising by X% against the previous year. Overall, the import price, however, saw a deep setback. The pace of growth appeared the most rapid in 2015 when the average import price increased by X% against the previous year. As a result, import price reached the peak level of $X per unit. From 2016 to 2022, the average import prices remained at a somewhat lower figure.

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

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :