Republic of Korea - Lifting Equipment - Market Analysis, Forecast, Size, Trends and Insights
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View PricingRepublic of Korea: Lifting Equipment Market 2024
Lifting Equipment Market Size in Republic of Korea
The South Korean lifting equipment market dropped to $X in 2022, shrinking by X% against the previous year. Overall, consumption recorded a mild shrinkage. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.
Lifting Equipment Production in Republic of Korea
In value terms, lifting equipment production shrank modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.
Lifting Equipment Exports
Exports from Republic of Korea
In 2022, shipments abroad of lifting equipment was finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. Overall, exports, however, continue to indicate a deep downturn. The pace of growth was the most pronounced in 2017 with an increase of X%. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.
In value terms, lifting equipment exports surged to $X in 2022. Over the period under review, exports, however, saw a abrupt downturn. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.
Exports by Country
Hungary (X units) was the main destination for lifting equipment exports from South Korea, with a X% share of total exports. Moreover, lifting equipment exports to Hungary exceeded the volume sent to the second major destination, Taiwan (Chinese) (X units), threefold. The third position in this ranking was taken by Japan (X units), with a X% share.
From 2012 to 2022, the average annual growth rate of volume to Hungary was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (X% per year) and Japan (X% per year).
In value terms, Hungary ($X) emerged as the key foreign market for lifting equipment exports from South Korea, comprising X% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a X% share of total exports. It was followed by Japan, with a X% share.
From 2012 to 2022, the average annual growth rate of value to Hungary was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (X% per year) and Japan (X% per year).
Export Prices by Country
The average lifting equipment export price stood at $X per unit in 2022, increasing by X% against the previous year. In general, export price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, lifting equipment export price increased by X% against 2016 indices. The pace of growth appeared the most rapid in 2019 an increase of X%. The export price peaked at $X per unit in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($X per unit), while the average price for exports to Indonesia ($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 Taiwan (Chinese) (X%), while the prices for the other major destinations experienced more modest paces of growth.
Lifting Equipment Imports
Imports into Republic of Korea
In 2022, supplies from abroad of lifting equipment increased by X% to X units for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports, however, showed a dramatic decrease. Imports peaked at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.
In value terms, lifting equipment imports skyrocketed to $X in 2022. Overall, imports, however, recorded a abrupt shrinkage. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.
Imports by Country
Poland (X units), Germany (X units) and the Netherlands (X units) were the main suppliers of lifting equipment imports to South Korea, together accounting for X% of total imports. Norway, Vietnam, Denmark, China, the United States, Sweden, Japan and the UK lagged somewhat behind, together comprising a further X%.
From 2012 to 2022, the biggest increases were recorded for Denmark (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.
In value terms, the largest lifting equipment suppliers to South Korea were Germany ($X), Poland ($X) and the Netherlands ($X), together comprising X% of total imports. Norway, Denmark, Vietnam, China, the United States, Sweden, Japan and the UK lagged somewhat behind, together comprising a further X%.
Among the main suppliers, Denmark, 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
In 2022, the average lifting equipment import price amounted to $X per unit, rising by X% against the previous year. Overall, import price indicated a perceptible expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, lifting equipment import price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2014 an increase of X%. The import price peaked at $X per unit in 2017; however, from 2018 to 2022, import prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per unit), while the price for the UK ($X per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (X%), while the prices for the other major suppliers experienced more modest paces of growth.
Source: IndexBox Platform
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the lifting equipment 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 28221470 - Lifting equipment (excluding overhead travelling cranes, t ower, transporter, gantry, portal, bridge or pedestal jib cranes, mobile lifting frames or straddle carriers, selfpropelled machinery)
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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