Republic of Korea: Non-Lawn Mower Market 2024

Non-Lawn Mower Market Size in Republic of Korea

For the fourth consecutive year, the South Korean non-lawn mower market recorded decline in sales value, which decreased by X% to $X in 2022. Overall, consumption recorded a drastic downturn. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Non-Lawn Mower Production in Republic of Korea

In value terms, non-lawn mower production declined to $X in 2022 estimated in export price. In general, production continues to indicate a perceptible reduction. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

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Non-Lawn Mower Exports

Exports from Republic of Korea

After five years of growth, overseas shipments of non-lawn mowers and cutter bars decreased by X% to X units in 2022. In general, exports, however, saw strong growth. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at X units in 2021, and then declined in the following year.

In value terms, non-lawn mower exports rose to $X in 2022. Over the period under review, exports, however, enjoyed buoyant growth. The pace of growth appeared the most rapid in 2017 when exports increased by X%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Australia (X units), the United States (X units) and New Zealand (X units) were the main destinations of non-lawn mower exports from South Korea, with a combined X% share of total exports. The Netherlands and Canada lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Canada (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for non-lawn mower exported from South Korea were the United States ($X), Australia ($X) and Canada ($X), with a combined X% share of total exports.

Among the main countries of destination, Canada, with a CAGR of X%, recorded the highest growth rate of 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 non-lawn mower export price stood at $X per unit in 2022, growing by X% against the previous year. In general, export price indicated moderate growth 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, non-lawn mower export price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2014 an increase of X%. As a result, the export price attained the peak level of $X per unit. From 2015 to 2022, the average export prices remained 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 Canada ($X per unit), while the average price for exports to Australia ($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 Australia (X%), while the prices for the other major destinations experienced mixed trend patterns.

Non-Lawn Mower Imports

Imports into Republic of Korea

In 2022, purchases abroad of non-lawn mowers and cutter bars decreased by X% to X units, falling for the second consecutive year after four years of growth. Overall, total imports indicated mild growth from 2012 to 2022: its volume 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, imports decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2019 when imports increased by X%. Over the period under review, imports attained the peak figure at X units in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, non-lawn mower imports contracted to $X in 2022. In general, total imports indicated a notable increase 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, imports increased by X% against 2016 indices. The pace of growth appeared the most rapid in 2017 with an increase of X%. Over the period under review, imports reached the peak figure at $X in 2021, and then shrank modestly in the following year.

Imports by Country

Japan (X units), France (X units) and Germany (X units) were the main suppliers of non-lawn mower imports to South Korea, with a combined X% share of total imports. Finland, Denmark, China, Austria and Italy lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Finland (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest non-lawn mower suppliers to South Korea were Japan ($X), France ($X) and Germany ($X), with a combined X% share of total imports. Finland, Denmark, China, Austria and Italy lagged somewhat behind, together comprising a further X%.

Finland, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main suppliers 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 non-lawn mower import price amounted to $X per unit, therefore, remained relatively stable against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of X% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2018; however, from 2019 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 Japan ($X per unit), while the price for Denmark ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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