Republic of Korea - Industrial Sewing Machines - Market Analysis, Forecast, Size, Trends and Insights
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View PricingRepublic of Korea: Industrial Sewing Machine Market 2024
Industrial Sewing Machine Market Size in Republic of Korea
In 2022, the South Korean industrial sewing machine market decreased by X% to $X for the first time since 2017, thus ending a four-year rising trend. Over the period under review, consumption showed a noticeable contraction. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.
Industrial Sewing Machine Production in Republic of Korea
In value terms, industrial sewing machine production reduced slightly to $X in 2022 estimated in export price. Overall, production continues to indicate a deep downturn. The most prominent rate of growth was recorded in 2014 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.
Industrial Sewing Machine Exports
Exports from Republic of Korea
In 2022, the amount of industrial sewing machines exported from South Korea declined dramatically to X units, which is down by X% compared with 2021. Overall, exports saw a noticeable curtailment. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X units in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.
In value terms, industrial sewing machine exports dropped remarkably to $X in 2022. In general, exports continue to indicate a abrupt descent. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.
Exports by Country
Indonesia (X units) was the main destination for industrial sewing machine exports from South Korea, accounting for a X% share of total exports. Moreover, industrial sewing machine exports to Indonesia exceeded the volume sent to the second major destination, Vietnam (X units), threefold. India (X units) ranked third in terms of total exports with a X% share.
From 2012 to 2022, the average annual rate of growth in terms of volume to Indonesia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (X% per year) and India (X% per year).
In value terms, Indonesia ($X) remains the key foreign market for industrial sewing machines exports from South Korea, comprising X% of total exports. The second position in the ranking was taken by Vietnam ($X), with a X% share of total exports. It was followed by Bangladesh, with a X% share.
From 2012 to 2022, the average annual growth rate of value to Indonesia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (X% per year) and Bangladesh (X% per year).
Export Prices by Country
The average industrial sewing machine export price stood at $X per unit in 2022, which is down by X% against the previous year. Over the period under review, the export price continues to indicate a pronounced contraction. The most prominent rate of growth was recorded in 2020 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per unit), while the average price for exports to Mexico ($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 Nigeria (X%), while the prices for the other major destinations experienced more modest paces of growth.
Industrial Sewing Machine Imports
Imports into Republic of Korea
In 2022, overseas purchases of industrial sewing machines decreased by X% to X units for the first time since 2018, thus ending a three-year rising trend. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X units in 2021, and then shrank sharply in the following year.
In value terms, industrial sewing machine imports dropped markedly to $X in 2022. Over the period under review, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of X%. Over the period under review, imports reached the maximum at $X in 2021, and then fell dramatically in the following year.
Imports by Country
Japan (X units), China (X units) and Taiwan (Chinese) (X units) were the main suppliers of industrial sewing machine imports to South Korea, with a combined X% share of total imports.
From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Japan (with a CAGR of X%), while imports for the other leaders experienced mixed trend patterns.
In value terms, China ($X) constituted the largest supplier of industrial sewing machines to South Korea, comprising X% of total imports. The second position in the ranking was taken by Japan ($X), with an X% share of total imports. It was followed by Taiwan (Chinese), with a X% share.
From 2012 to 2022, the average annual growth rate of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and Taiwan (Chinese) (X% per year).
Import Prices by Country
In 2022, the average industrial sewing machine import price amounted to $X per unit, declining by X% against the previous year. Over the period under review, the import price recorded a slight setback. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. The import price peaked at $X per unit in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced a decline.
Source: IndexBox Platform
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the industrial sewing machine 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 2030.
Product coverage:
- Prodcom 28942430 - Industrial automatic sewing machines (excluding book-sewing machines)
- Prodcom 28942450 - Industrial sewing machines (excluding book-sewing machines, automatic machines)
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:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- 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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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