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Republic of Korea - Electric Locomotives - Market Analysis, Forecast, Size, Trends and Insights
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Republic of Korea: Electric Locomotive Market Overview 2021

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Electric Locomotive Market Size in Republic of Korea

The South Korean electric locomotive market amounted to $X in 2019, flattening at the previous year. In general, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the peak level in 2019 and is likely to see steady growth in the immediate term.

Electric Locomotive Production in Republic of Korea

In value terms, electric locomotive production stood at $X in 2020 estimated in export prices. Over the period under review, production showed a significant increase. The most prominent rate of growth was recorded in 2014 with an increase of X% y-o-y. As a result, production attained the peak level of $X. From 2015 to 2020, production growth failed to regain the momentum.

Electric Locomotive Exports

Exports from Republic of Korea

In 2020, shipments abroad of electric locomotives increased by X% to X units for the first time since 2014, thus ending a five-year declining trend. Over the period under review, exports posted a significant expansion. Exports peaked at X units in 2014; however, from 2015 to 2020, exports stood at a somewhat lower figure.

In value terms, electric locomotive exports surged to $X in 2020. Overall, exports saw a significant expansion. As a result, exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

South Africa (X units) was the main destination for electric locomotive exports from South Korea, accounting for a X% share of total exports. Moreover, electric locomotive exports to South Africa exceeded the volume sent to the second major destination, Hong Kong SAR (X units), more than tenfold.

From 2007 to 2020, the average annual growth rate of volume to South Africa amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+X% per year) and Malaysia (+X% per year).

In value terms, Hong Kong SAR ($X) remains the key foreign market for electric locomotive exports from South Korea, comprising X% of total exports. The second position in the ranking was occupied by Malaysia ($X), with a X% share of total exports.

From 2007 to 2020, the average annual growth rate of value to Hong Kong SAR stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+X% per year) and South Africa (+X% per year).

Export Prices by Country

In 2020, the average electric locomotive export price amounted to $X per unit, growing by X% against the previous year. In general, the export price recorded a significant increase. The most prominent rate of growth was recorded in 2011 an increase of X% y-o-y. The export price peaked in 2020 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major export markets. In 2020, the country with the highest price was Hong Kong SAR ($X per unit), while the average price for exports to South Africa ($X per unit) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to South Africa, while the prices for the other major destinations experienced mixed trend patterns.

Electric Locomotive Imports

Imports into Republic of Korea

In 2020, after three years of growth, there was significant decline in supplies from abroad of electric locomotives, when their volume decreased by -X% to X units. Overall, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2008 with an increase of X% against the previous year. As a result, imports reached the peak of X units. From 2009 to 2020, the growth imports failed to regain the momentum.

In value terms, electric locomotive imports contracted sharply to $X in 2020. In general, imports showed a abrupt curtailment. The most prominent rate of growth was recorded in 2008 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2009 to 2020, the growth imports remained at a somewhat lower figure.

Imports by Country

In 2020, the UK (X units) constituted the largest electric locomotive supplier to South Korea, accounting for a X% share of total imports. Moreover, electric locomotive imports from the UK exceeded the figures recorded by the second-largest supplier, Denmark (X units), sixfold.

From 2007 to 2020, the average annual growth rate of volume from the UK was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (X% per year) and China (-X% per year).

In value terms, Denmark ($X) constituted the largest supplier of electric locomotive to South Korea, comprising X% of total imports. The second position in the ranking was occupied by China ($X), with a X% share of total imports.

From 2007 to 2020, the average annual rate of growth in terms of value from Denmark was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (-X% per year) and the UK (-X% per year).

Import Prices by Country

In 2020, the average electric locomotive import price amounted to $X per unit, rising by X% against the previous year. Overall, the import price, however, continues to indicate a drastic downturn. The growth pace was the most rapid in 2019 an increase of X% against the previous year. The import price peaked at $X per unit in 2007; however, from 2008 to 2020, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was Denmark ($X per unit), while the price for the UK ($X per unit) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Denmark, while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for electric locomotives in the world?
+
The countries with the highest volumes of electric locomotive consumption in 2020 were Nigeria (98K units), Singapore (74K units) and Saudi Arabia (37K units), together accounting for 78% of global consumption.
What are the largest producers of electric locomotives in the world?
+
The countries with the highest volumes of electric locomotive production in 2020 were Germany (14K units), Japan (9.9K units) and France (6K units), with a combined 65% share of global production. These countries were followed by India, China, Sweden, Nigeria and South Korea, which together accounted for a further 30%.
What are the leading suppliers of electric locomotives to Republic of Korea?
+
In value terms, Denmark ($22K) constituted the largest supplier of electric locomotive to South Korea, comprising 13% of total imports. The second position in the ranking was occupied by China ($6.8K), with a 4% share of total imports.
What are the leading importers of electric locomotives from Republic of Korea?
+
In value terms, Hong Kong SAR ($74M) remains the key foreign market for electric locomotive exports from South Korea, comprising 98% of total exports. The second position in the ranking was occupied by Malaysia ($21K), with a 0% share of total exports.
What is the average export price for electric locomotives in Republic of Korea?
+
The average electric locomotive export price stood at $104,436 per unit in 2020, growing by 20% against the previous year.
What is the average import price for electric locomotives in Republic of Korea?
+
The average electric locomotive import price stood at $169,904 per unit in 2020, growing by 3.4% against the previous year.

Product coverage:
• Prodcom 30201100 - Rail locomotives powered from an external source of electricity
• Prodcom 30201300 - Other rail locomotives, locomotive tenders

This report provides an in-depth analysis of the electric locomotive market in Republic of Korea. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2025.


Country coverage:
• South Korea

Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Trade (exports and imports) in Republic of Korea
• Export and import prices
• Market trends, drivers and restraints
• Key market players and their profiles

Reasons to buy this report:
• Take advantage of the latest data
• Find deeper insights into current market developments
• Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

2.1
KEY FINDINGS
2.2
MARKET TRENDS
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCTS

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
8. IMPORTS

The Largest Import Supplying Countries

8.1
IMPORTS FROM 2007–2020
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2007–2020
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

LIST OF TABLES
Table 1:
Key Findings In 2020
Table 2:
Market Volume, In Physical Terms, 2007–2020
Table 3:
Market Value, 2007–2020
Table 4:
Per Capita Consumption In 2007–2020
Table 5:
Imports, In Physical Terms, By Country, 2007–2020
Table 6:
Imports, In Value Terms, By Country, 2007–2020
Table 7:
Import Prices, By Country Of Origin, 2007–2020
Table 8:
Exports, In Physical Terms, By Country, 2007–2020
Table 9:
Exports, In Value Terms, By Country, 2007–2020
Table 10:
Export Prices, By Country Of Destination, 2007–2020
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2007–2020
Figure 2:
Market Value, 2007–2020
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007–2020
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007–2020
Figure 5:
Trade Balance, In Physical Terms, 2007–2020
Figure 6:
Trade Balance, In Value Terms, 2007–2020
Figure 7:
Per Capita Consumption, 2007–2020
Figure 8:
Market Forecast To 2025
Figure 9:
Products: Market Size And Growth, By Type
Figure 10:
Products: Average Per Capita Consumption, By Type
Figure 11:
Products: Exports And Growth, By Type
Figure 12:
Products: Export Prices And Growth, By Type
Figure 13:
Production Volume And Growth
Figure 14:
Exports And Growth
Figure 15:
Export Prices And Growth
Figure 16:
Market Size And Growth
Figure 17:
Per Capita Consumption
Figure 18:
Imports And Growth
Figure 19:
Import Prices
Figure 20:
Production, In Physical Terms, 2007–2020
Figure 21:
Production, In Value Terms, 2007–2020
Figure 22:
Imports, In Physical Terms, 2007–2020
Figure 23:
Imports, In Value Terms, 2007–2020
Figure 24:
Imports, In Physical Terms, By Country, 2020
Figure 25:
Imports, In Physical Terms, By Country, 2007–2020
Figure 26:
Imports, In Value Terms, By Country, 2007–2020
Figure 27:
Import Prices, By Country Of Origin, 2007–2020
Figure 28:
Exports, In Physical Terms, 2007–2020
Figure 29:
Exports, In Value Terms, 2007–2020
Figure 30:
Exports, In Physical Terms, By Country, 2020
Figure 31:
Exports, In Physical Terms, By Country, 2007–2020
Figure 32:
Exports, In Value Terms, By Country, 2007–2020
Figure 33:
Export Prices, By Country Of Destination, 2007–2020

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