Republic of Korea: Machine-Tool For Drilling Market 2024

Machine-Tool For Drilling Market Size in Republic of Korea

In 2022, the South Korean machine-tool for drilling market decreased by X% to $X, falling for the fourth consecutive year after two years of growth. Overall, the total consumption indicated a prominent expansion from 2012 to 2022: its value 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, consumption decreased by X% against 2018 indices. Machine-tool for drilling consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Machine-Tool For Drilling Production in Republic of Korea

In value terms, machine-tool for drilling production dropped slightly to $X in 2022 estimated in export price. Over the period under review, the total production indicated temperate growth from 2012 to 2022: its value 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, production increased by X% against 2020 indices. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

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Machine-Tool For Drilling Exports

Exports from Republic of Korea

In 2022, approx. X units of machine-tools for drilling, boring or milling metal were exported from South Korea; which is down by X% against the year before. Over the period under review, exports saw a noticeable slump. The pace of growth was the most pronounced in 2015 when exports increased by 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 remained at a somewhat lower figure.

In value terms, machine-tool for drilling exports declined remarkably to $X in 2022. In general, exports continue to indicate a abrupt descent. The pace of growth appeared the most rapid in 2018 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Myanmar (X units) was the main destination for machine-tool for drilling exports from South Korea, with a X% share of total exports. Moreover, machine-tool for drilling exports to Myanmar exceeded the volume sent to the second major destination, Japan (X units), threefold. The third position in this ranking was held by Vietnam (X units), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Myanmar amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (X% per year) and Vietnam (X% per year).

In value terms, Myanmar ($X), China ($X) and Vietnam ($X) appeared to be the largest markets for machine-tool for drilling exported from South Korea worldwide, together comprising X% of total exports. The United States, Taiwan (Chinese), Indonesia, India, Japan, Poland, Sudan and Lithuania lagged somewhat behind, together accounting for a further X%.

Taiwan (Chinese), with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average machine-tool for drilling export price stood at $X per unit in 2022, with an increase of X% against the previous year. Over the period under review, the export price, however, showed a pronounced curtailment. The pace of growth appeared the most rapid in 2017 an increase of X%. Over the period under review, the average export prices attained the maximum at $X per unit in 2013; however, from 2014 to 2022, the export prices remained at a 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 ($X per unit), while the average price for exports to Lithuania ($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.

Machine-Tool For Drilling Imports

Imports into Republic of Korea

After four years of growth, overseas purchases of machine-tools for drilling, boring or milling metal decreased by X% to X units in 2022. Over the period under review, imports, however, continue to indicate a buoyant increase. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. Imports peaked at X units in 2021, and then shrank in the following year.

In value terms, machine-tool for drilling imports reduced to $X in 2022. In general, imports recorded a abrupt setback. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of machine-tool for drilling to South Korea, with a X% share of total imports. Moreover, machine-tool for drilling imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), more than tenfold. Poland (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Poland (X% per year).

In value terms, the largest machine-tool for drilling suppliers to South Korea were China ($X), Japan ($X) and Germany ($X), together accounting for X% of total imports. The United States, the UK, Taiwan (Chinese) and Poland lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Poland, with a CAGR of X%, saw the highest growth rate of 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 machine-tool for drilling import price stood at $X per unit in 2022, with an increase of X% against the previous year. Overall, the import price, however, continues to indicate a abrupt setback. The pace of growth appeared the most rapid in 2017 when the average import price increased by X% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 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 Japan ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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