Republic of Korea: Market for Diesel or Semi-Diesel Electric Generating Sets of Output Over 75 kVA but Under 375 kVA 2024

Market Size for Diesel or Semi-Diesel Electric Generating Sets of Output Over 75 kVA but Under 375 kVA in Republic of Korea

The South Korean market for diesel or semi-diesel electric generating sets of output over X kVA but under X kVA fell markedly to $X in 2022, waning by -21.5% against the previous year. Overall, consumption showed a mild decline. Consumption of peaked at $X in 2021, and then declined markedly in the following year.

Production of Diesel or Semi-Diesel Electric Generating Sets of Output Over X kVA but Under X kVA in Republic of Korea

In value terms, production of diesel or semi-diesel electric generating sets of output over X kVA but under X kVA reduced to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2019 with an increase of 34%. Production of peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Exports of Diesel or Semi-Diesel Electric Generating Sets of Output Over 75 kVA but Under 375 kVA

Exports from Republic of Korea

Exports of diesel or semi-diesel electric generating sets of output over X kVA but under X kVA from South Korea rose remarkably to X units in 2022, growing by 14% against 2021 figures. In general, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 19% against the previous year. The exports peaked at X units in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, exports of diesel or semi-diesel electric generating sets of output over X kVA but under X kVA surged to $X in 2022. Over the period under review, exports, however, showed a mild descent. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Vietnam (X units) was the main destination for exports of diesel or semi-diesel electric generating sets of output over X kVA but under X kVA from South Korea, with a 50% share of total exports. Moreover, exports of diesel or semi-diesel electric generating sets of output over X kVA but under X kVA to Vietnam exceeded the volume sent to the second major destination, China (X units), twofold. Japan (X units) ranked third in terms of total exports with a 20% share.

From 2012 to 2022, the average annual growth rate of volume to Vietnam amounted to +23.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-3.6% per year) and Japan (+2.2% per year).

In value terms, Vietnam ($X) emerged as the key foreign market for diesel or semi-diesel electric generating sets of output over X kVA but under X kVA exports from South Korea, comprising 50% of total exports. The second position in the ranking was taken by China ($X), with a 25% share of total exports. It was followed by Japan, with a 20% share.

From 2012 to 2022, the average annual growth rate of value to Vietnam totaled +21.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-4.8% per year) and Japan (+1.0% per year).

Export Prices by Country

In 2022, the average export price for diesel or semi-diesel electric generating sets of output over X kVA but under X kVA amounted to $X per unit, rising by 4.8% against the previous year. Over the period under review, the export price, however, saw a slight reduction. The most prominent rate of growth was recorded in 2018 when the average export price increased by 12%. The export price peaked at $X per unit in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were Taiwan (Chinese) ($X per unit) and Japan ($X per unit), while the average price for exports to China ($X per unit) and Vietnam ($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 Taiwan (Chinese) (-1.0%), while the prices for the other major destinations experienced a decline.

Imports of Diesel or Semi-Diesel Electric Generating Sets of Output Over 75 kVA but Under 375 kVA

Imports into Republic of Korea

In 2022, supplies from abroad of diesel or semi-diesel electric generating sets of output over X kVA but under X kVA decreased by -82.2% to X units for the first time since 2019, thus ending a two-year rising trend. Over the period under review, imports continue to indicate a deep downturn. The pace of growth was the most pronounced in 2021 with an increase of 146%. Imports peaked at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of diesel or semi-diesel electric generating sets of output over X kVA but under X kVA dropped notably to $X in 2022. In general, imports faced a precipitous decline. The most prominent rate of growth was recorded in 2021 with an increase of 151%. Over the period under review, imports of 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 units) constituted the largest diesel or semi-diesel electric generating set of output over X kVA but under X kVA supplier to South Korea, with a 80% share of total imports. Moreover, imports of diesel or semi-diesel electric generating sets of output over X kVA but under X kVA from China exceeded the figures recorded by the second-largest supplier, the United States (X units), tenfold. The third position in this ranking was taken by Norway (X units), with a 4.8% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +10.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-35.5% per year) and Norway (+86.1% per year).

In value terms, China ($X) constituted the largest supplier of diesel or semi-diesel electric generating sets of output over X kVA but under X kVA to South Korea, comprising 80% of total imports. The second position in the ranking was held by the United States ($X), with a 7.7% share of total imports. It was followed by Norway, with a 5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +8.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-36.6% per year) and Norway (+67.5% per year).

Import Prices by Country

The average import price for diesel or semi-diesel electric generating sets of output over X kVA but under X kVA stood at $X per unit in 2022, increasing by 3% against the previous year. Overall, the import price, however, continues to indicate a slight curtailment. Over the period under review, average import prices hit record highs at $X per unit in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Norway ($X per unit) and the United States ($X per unit), while the price for Spain ($X per unit) and Vietnam ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+45.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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