Republic of Korea: Non-Numerically Controlled Lathe Market 2024

Non-Numerically Controlled Lathe Market Size in Republic of Korea

The South Korean non-numerically controlled lathe market declined modestly to $X in 2022, remaining stable against the previous year. Over the period under review, consumption, however, enjoyed a prominent increase. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Non-Numerically Controlled Lathe Production in Republic of Korea

In value terms, non-numerically controlled lathe production shrank to $X in 2022 estimated in export price. Overall, production, however, showed a resilient expansion. The most prominent rate of growth was recorded in 2015 when the production volume increased by X%. Over the period under review, non-numerically controlled laproduction hit record highs at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Non-Numerically Controlled Lathe Exports

Exports from Republic of Korea

In 2022, after four years of growth, there was significant decline in overseas shipments of non-numerically controlled horizontal lathes, for removing metal, when their volume decreased by X% to X units. Over the period under review, exports, however, showed a mild expansion. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. As a result, the exports reached the peak of X units. From 2017 to 2022, the growth of the exports failed to regain momentum.

In value terms, non-numerically controlled lathe exports contracted notably to $X in 2022. Overall, exports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2016 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States (X units) was the main destination for non-numerically controlled lathe exports from South Korea, accounting for a X% share of total exports. Moreover, non-numerically controlled lathe exports to the United States exceeded the volume sent to the second major destination, Vietnam (X units), twofold. The third position in this ranking was held by Canada (X units), with an X% share.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (X% per year) and Canada (X% per year).

In value terms, the United States ($X) emerged as the key foreign market for non-numerically controlled horizontal lathes, for removing metal exports from South Korea, comprising X% of total exports. The second position in the ranking was held by Vietnam ($X), with a X% share of total exports. It was followed by Canada, with an X% share.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (X% per year) and Canada (X% per year).

Export Prices by Country

The average non-numerically controlled lathe export price stood at $X per unit in 2022, growing by X% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. Over the period under review, the average export prices reached the peak figure at $X per unit in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to China ($X per unit) and Canada ($X per unit), while the average price for exports to Mexico ($X per unit) and India ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (X%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Numerically Controlled Lathe Imports

Imports into Republic of Korea

In 2022, the amount of non-numerically controlled horizontal lathes, for removing metal imported into South Korea contracted to X units, approximately mirroring the year before. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. Over the period under review, non-numerically controlled laimports reached the maximum at X units in 2021, and then fell modestly in the following year.

In value terms, non-numerically controlled lathe imports plummeted to $X in 2022. Over the period under review, imports saw a pronounced slump. The most prominent rate of growth was recorded in 2017 with an increase of X%. Imports peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of non-numerically controlled lathe to South Korea, accounting for a X% share of total imports. Moreover, non-numerically controlled lathe imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), twofold.

From 2012 to 2022, 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: Japan (X% per year) and Germany (X% per year).

In value terms, China ($X), Japan ($X) and Germany ($X) appeared to be the largest non-numerically controlled lathe suppliers to South Korea, together accounting for X% of total imports.

Among the main suppliers, Japan, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average non-numerically controlled lathe import price amounted to $X per unit, with a decrease of X% against the previous year. Overall, the import price continues to indicate a perceptible downturn. The pace of growth was the most pronounced in 2017 an increase of X%. Over the period under review, average import prices hit record highs at $X per unit in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

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

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

Source: IndexBox Platform

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