Republic of Korea: Electrical Signalling Apparatus Market 2024

Electrical Signalling Apparatus Market Size in Republic of Korea

In 2022, the South Korean electrical signalling apparatus market increased by X% to $X, rising for the third consecutive year after seven years of decline. In general, consumption, however, saw a drastic downturn. Electrical signalling apparatus consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Electrical Signalling Apparatus Production in Republic of Korea

In value terms, electrical signalling apparatus production rose significantly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Electrical signalling apparatus production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

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Electrical Signalling Apparatus Exports

Exports from Republic of Korea

In 2022, overseas shipments of electrical apparatus for sound or visual signalling increased by X% to X units, rising for the fifth year in a row after two years of decline. In general, exports posted buoyant growth. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. As a result, the exports attained the peak of X units. From 2016 to 2022, the growth of the exports failed to regain momentum.

In value terms, electrical signalling apparatus exports rose significantly to $X in 2022. Overall, exports, however, saw a abrupt decrease. The most prominent rate of growth was recorded in 2015 when exports increased by X%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Japan (X units), the United States (X units) and Slovenia (X units) were the main destinations of electrical signalling apparatus exports from South Korea, together comprising X% of total exports. Vietnam, Mexico, Thailand, India, the UK, the United Arab Emirates, China, Hong Kong SAR and Saudi Arabia lagged somewhat behind, together comprising a further X%.

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

In value terms, Japan ($X), the United States ($X) and Slovenia ($X) were the largest markets for electrical signalling apparatus exported from South Korea worldwide, together accounting for X% of total exports. India, China, Vietnam, Hong Kong SAR, Thailand, the UK, Mexico, the United Arab Emirates and Saudi Arabia lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, the UK, with a CAGR of X%, recorded 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 electrical signalling apparatus export price stood at $X per unit in 2022, which is down by X% against the previous year. Overall, the export price continues to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2019 an increase of X% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per unit), while the average price for exports to Vietnam ($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 India (X%), while the prices for the other major destinations experienced more modest paces of growth.

Electrical Signalling Apparatus Imports

Imports into Republic of Korea

In 2022, the amount of electrical apparatus for sound or visual signalling imported into South Korea amounted to X units, surging by X% compared with the previous year's figure. Overall, imports recorded a moderate expansion. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

In value terms, electrical signalling apparatus imports amounted to $X in 2022. In general, imports, however, continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Imports peaked 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 electrical signalling apparatus supplier to South Korea, accounting for a X% share of total imports. Moreover, electrical signalling apparatus imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X units), fivefold. The third position in this ranking was held by the United States (X units), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (X% per year) and the United States (X% per year).

In value terms, China ($X), Vietnam ($X) and the United States ($X) appeared to be the largest electrical signalling apparatus suppliers to South Korea, with a combined X% share of total imports.

In terms of the main suppliers, Vietnam, with a CAGR of X%, recorded the highest rates of growth with regard to 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 electrical signalling apparatus import price stood at $X per unit in 2022, reducing by X% against the previous year. In general, the import price continues to indicate a deep downturn. The most prominent rate of growth was recorded in 2014 when the average import price increased by X%. Over the period under review, average import prices reached the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, 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 France (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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