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Republic of Korea - Power Tools - Market Analysis, Forecast, Size, Trends and Insights
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Republic of Korea: Power Tool Market Overview 2020

Power Tool Market Size in Republic of Korea

The South Korean power tool market expanded markedly to $X in 2019, increasing by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, recorded a buoyant expansion. The most prominent rate of growth was recorded in 2010 when the market value increased by X% against the previous year. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2019, consumption remained at a lower figure.

Power Tool Exports

Exports from Republic of Korea

After two years of growth, shipments abroad of power tools decreased by -X% to X units in 2019. Overall, exports recorded a mild shrinkage. The most prominent rate of growth was recorded in 2018 when exports increased by X% year-to-year. As a result, exports attained the peak of X units, and then reduced dramatically in the following year.

In value terms, power tool exports expanded to $X in 2019. Over the period under review, exports showed a moderate expansion. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. Over the period under review, exports hit record highs at $X in 2014; however, from 2015 to 2019, exports stood at a somewhat lower figure.

Exports by Country

China (X units), the U.S. (X units) and the United Arab Emirates (X units) were the main destinations of power tool exports from South Korea, together comprising X% of total exports.

From 2007 to 2018, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United Arab Emirates, while exports for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for power tool exported from South Korea were the U.S. ($X), China ($X) and Russia ($X), with a combined X% share of total exports. These countries were followed by Germany, the United Arab Emirates, France, Italy, Mexico, the Netherlands, Iran, Turkey and Brazil, which together accounted for a further X terms of the main countries of destination, the United Arab Emirates 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 power tool export price stood at $X per unit in 2018, declining by -X% against the previous year. Over the last eleven-year period, it increased at an average annual rate of +X%. The pace of growth appeared the most rapid in 2013 when the average export price increased by X% against the previous year. As a result, export price attained the peak level of $X per unit. From 2014 to 2018, the growth in terms of the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2018, the country with the highest price was Russia ($X per unit), while the average price for exports to China ($X per unit) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was recorded for supplies to Russia, while the prices for the other major destinations experienced more modest paces of growth.

Power Tool Imports

Imports into Republic of Korea

In 2019, purchases abroad of power tools decreased by -X% to X units, falling for the third consecutive year after seven years of growth. In general, imports, however, showed a mild expansion. The most prominent rate of growth was recorded in 2010 with an increase of X% year-to-year. Over the period under review, imports reached the peak figure at X units in 2016; however, from 2017 to 2019, imports failed to regain the momentum.

In value terms, power tool imports reached $X in 2019. Over the period under review, imports, however, enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2010 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2019, imports remained at a lower figure.

Imports by Country

In 2018, China (X units) constituted the largest power tool supplier to South Korea, accounting for a X% share of total imports. Moreover, power tool imports from China exceeded the figures recorded by the second-largest supplier, Malaysia (X units), fourfold. Japan (X units) ranked third in terms of total imports with a X% share.

From 2007 to 2018, the average annual rate of growth in terms of volume from China stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-X% per year) and Japan (-X% per year).

In value terms, China ($X) constituted the largest supplier of power tool to South Korea, comprising X% of total imports. The second position in the ranking was occupied by Malaysia ($X), with a X% share of total imports. It was followed by Germany, with a X% share.

From 2007 to 2018, the average annual growth rate of value from China totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+X% per year) and Germany (+X% per year).

Import Prices by Country

The average power tool import price stood at $X per unit in 2018, waning by -X% against the previous year. Over the last eleven years, it increased at an average annual rate of +X%. The pace of growth appeared the most rapid in 2008 when the average import price increased by X% y-o-y. Over the period under review, average import prices hit record highs at $X per unit in 2017, and then fell slightly in the following year.

Prices varied noticeably by the country of origin; the country with the highest price was Germany ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Germany, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for power tools in the world?
+
The countries with the highest volumes of power tool consumption in 2019 were China (122M units), the U.S. (81M units) and Japan (20M units), with a combined 52% share of global consumption. These countries were followed by Germany, Russia, France, India, Belgium, Brazil, Poland, Australia and Mexico, which together accounted for a further 24%.
What are the largest producers of power tools in the world?
+
The country with the largest volume of power tool production was China (234M units), comprising approx. 76% of total volume. Moreover, power tool production in China exceeded the figures recorded by the second-largest producer, Japan (18M units), more than tenfold. The third position in this ranking was occupied by Germany (13M units), with a 4.2% share.
What are the leading suppliers of power tools to Republic of Korea?
+
In value terms, China ($127M) constituted the largest supplier of power tool to South Korea, comprising 64% of total imports. The second position in the ranking was occupied by Malaysia ($47M), with a 24% share of total imports. It was followed by Germany, with a 11% share.
What are the leading importers of power tools from Republic of Korea?
+
In value terms, the largest markets for power tool exported from South Korea were the U.S. ($6.3M), China ($4.6M) and Russia ($3.3M), with a combined 30% share of total exports. These countries were followed by Germany, the United Arab Emirates, France, Italy, Mexico, the Netherlands, Iran, Turkey and Brazil, which together accounted for a further 27%.
What is the average export price for power tools in Republic of Korea?
+
The average power tool export price stood at $70 per unit in 2018, falling by -2% against the previous year.
What is the average import price for power tools in Republic of Korea?
+
In 2018, the average power tool import price amounted to $62 per unit, which is down by -3.4% against the previous year.

Product coverage:
• Prodcom 28241113 - Electromechanical hand drills operated without an external source of power
• Prodcom 28241115 - Electropneumatic drills of all kinds for working in the hand
• Prodcom 28241117 - Electromechanical hand drills of all kinds (excluding those operated without an external source of power, e lectropneumatic)
• Prodcom 28241123 - Electromechanical chainsaws
• Prodcom 28241125 - Electromechanical circular saws
• Prodcom 28241127 - Electromechanical handsaws (excluding chainsaws, circular saws)
• Prodcom 28241133 -
• Prodcom 28241135 -
• Prodcom 28241150 - Grinders, sanders and planers, for working in the hand, with self-contained electric motor, operating with an external source of power
• Prodcom 28241180 - Electromechanical hedge trimmers and lawn edge cutters
• Prodcom 28241190 -

This report provides an in-depth analysis of the power tool 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 2007–2019
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2007–2019
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 2019
Table 2:
Market Volume, In Physical Terms, 2007–2019
Table 3:
Market Value, 2007–2019
Table 4:
Per Capita Consumption In 2007–2019
Table 5:
Imports, In Physical Terms, By Country, 2007–2019
Table 6:
Imports, In Value Terms, By Country, 2007–2019
Table 7:
Import Prices, By Country Of Origin, 2007–2019
Table 8:
Exports, In Physical Terms, By Country, 2007–2019
Table 9:
Exports, In Value Terms, By Country, 2007–2019
Table 10:
Export Prices, By Country Of Destination, 2007–2019
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2007–2019
Figure 2:
Market Value, 2007–2019
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007–2019
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007–2019
Figure 5:
Trade Balance, In Physical Terms, 2007–2019
Figure 6:
Trade Balance, In Value Terms, 2007–2019
Figure 7:
Per Capita Consumption, 2007–2019
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, 2007–2019
Figure 21:
Production, In Value Terms, 2007–2019
Figure 22:
Imports, In Physical Terms, 2007–2019
Figure 23:
Imports, In Value Terms, 2007–2019
Figure 24:
Imports, In Physical Terms, By Country, 2019
Figure 25:
Imports, In Physical Terms, By Country, 2007–2019
Figure 26:
Imports, In Value Terms, By Country, 2007–2019
Figure 27:
Import Prices, By Country Of Origin, 2007–2019
Figure 28:
Exports, In Physical Terms, 2007–2019
Figure 29:
Exports, In Value Terms, 2007–2019
Figure 30:
Exports, In Physical Terms, By Country, 2019
Figure 31:
Exports, In Physical Terms, By Country, 2007–2019
Figure 32:
Exports, In Value Terms, By Country, 2007–2019
Figure 33:
Export Prices, By Country Of Destination, 2007–2019

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