Republic of Korea: Electric Locomotive Market Overview 2020

Electric Locomotive Market Size in Republic of Korea

The revenue of the electric locomotive market in South Korea amounted to $X in 2018, increasing by X% against the previous year. In general, electric locomotive consumption continues to indicate a mild expansion. The pace of growth appeared the most rapid in 2015 when the market value increased by X% y-o-y. In that year, the electric locomotive market attained its peak level of $X. From 2016 to 2018, the growth of the electric locomotive market failed to regain its momentum.

Electric Locomotive Production in Republic of Korea

In value terms, electric locomotive production amounted to $X in 2018 estimated in export prices. Overall, electric locomotive production continues to indicate a pronounced increase. The most prominent rate of growth was recorded in 2011 with an increase of X% year-to-year. In that year, electric locomotive production attained its peak level of $X. From 2012 to 2018, electric locomotive production growth remained at a lower figure.

Electric Locomotive Exports

Exports from Republic of Korea

In 2018, the electric locomotive exports from South Korea stood at X units, remaining constant against the previous year. In general, electric locomotive exports continue to indicate a slight decline. The pace of growth appeared the most rapid in 2011 when exports increased by X% year-to-year. In that year, electric locomotive exports reached their peak of X units. From 2012 to 2018, the growth of electric locomotive exports remained at a somewhat lower figure.

In value terms, electric locomotive exports totaled $X in 2018. In general, electric locomotive exports continue to indicate a skyrocketing increase. The pace of growth was the most pronounced in 2011 with an increase of X% y-o-y. Over the period under review, electric locomotive exports reached their peak figure in 2018 and are expected to retain its growth in the near future.

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, Malaysia (X units), tenfold.

From 2007 to 2018, the average annual rate of growth in terms of volume to South Africa totaled +X%.

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

From 2007 to 2018, the average annual rate of growth in terms of value to Malaysia stood at +X%.

Export Prices by Country

In 2018, the average electric locomotive export price amounted to $X per unit, jumping by X% against the previous year. Over the period under review, the electric locomotive export price continues to indicate outstanding growth. The pace of growth appeared the most rapid in 2014 when the average export price increased by X% against the previous year. The export price peaked in 2018 and is expected to retain its growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2018, the country with the highest price was Malaysia ($X per unit), while the average price for exports to South Africa stood at $X per unit.

From 2007 to 2018, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia.

Electric Locomotive Imports

Imports into Republic of Korea

In 2018, the electric locomotive imports into South Korea amounted to X units, approximately mirroring the previous year. Over the period under review, electric locomotive imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when imports increased by X% year-to-year. Imports peaked at X units in 2015; however, from 2016 to 2018, imports remained at a lower figure.

In value terms, electric locomotive imports amounted to $X in 2018. Overall, electric locomotive imports continue to indicate strong growth. The pace of growth was the most pronounced in 2017 with an increase of X% year-to-year. Over the period under review, electric locomotive imports attained their peak figure at $X in 2008; however, from 2009 to 2018, imports failed to regain their momentum.

Imports by Country

In 2018, the UK (X units) was the main supplier of electric locomotive to South Korea, with a approx. X% share of total imports.

From 2007 to 2018, the average annual rate of growth in terms of volume from the UK amounted to +X%.

In value terms, the UK ($X) constituted the largest supplier of electric locomotive to South Korea.

From 2007 to 2018, the average annual growth rate of value from the UK amounted to -X%.

Import Prices by Country

The average electric locomotive import price stood at $X per unit in 2018, rising by X% against the previous year. Over the period under review, the electric locomotive import price continues to indicate buoyant growth. The most prominent rate of growth was recorded in 2016 when the average import price increased by X% against the previous year. Over the period under review, the average import prices for electric locomotives reached their maximum at $X per unit in 2008; however, from 2009 to 2018, import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for the UK.

From 2007 to 2018, the rate of growth in terms of prices for the UK amounted to -X% per year.

Source: IndexBox AI Platform