Republic of Korea: Self-Propelled Railway Coach Market 2024

Self-Propelled Railway Coach Market Size in Republic of Korea

The South Korean self-propelled railway coach market fell modestly to $X in 2022, remaining stable against the previous year. Overall, consumption continues to indicate a drastic downturn. Self-propelled railway coach consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Self-Propelled Railway Coach Production in Republic of Korea

In value terms, self-propelled railway coach production rose notably to $X in 2022 estimated in export price. Over the period under review, production posted a mild increase. The pace of growth appeared the most rapid in 2015 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

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Self-Propelled Railway Coach Exports

Exports from Republic of Korea

In 2022, shipments abroad of railway or tramway coaches (self-propelled) increased by X% to X units, rising for the fifth consecutive year after two years of decline. Over the period under review, exports recorded buoyant growth. The growth pace was the most rapid in 2019 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to see gradual growth in the near future.

In value terms, self-propelled railway coach exports expanded modestly to $X in 2022. Overall, exports posted tangible growth. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in years to come.

Exports by Country

Taiwan (Chinese) (X units), Australia (X units) and Poland (X units) were the main destinations of self-propelled railway coach exports from South Korea, together comprising X% of total exports.

From 2012 to 2022, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for self-propelled railway coach exported from South Korea were Taiwan (Chinese) ($X), Australia ($X) and Ireland ($X), with a combined X% share of total exports. Poland, Germany, Hong Kong SAR and Egypt lagged somewhat behind, together accounting for a further X%.

Hong Kong SAR, with a CAGR of X.4%, recorded the highest growth rate of the value of exports, among 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

In 2022, the average self-propelled railway coach export price amounted to $X,210 per unit, declining by X% against the previous year. Overall, the export price continues to indicate a pronounced slump. The most prominent rate of growth was recorded in 2017 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs at $X,053 per unit in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Ireland ($X,092 per unit), while the average price for exports to Australia ($X,655 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 Hong Kong SAR (X.2%), while the prices for the other major destinations experienced more modest paces of growth.

Self-Propelled Railway Coach Imports

Imports into Republic of Korea

In 2022, purchases abroad of railway or tramway coaches (self-propelled) increased by X% to X units, rising for the third year in a row after two years of decline. Overall, imports, however, showed a deep contraction. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Imports peaked at X units in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, self-propelled railway coach imports declined rapidly to $X in 2022. In general, imports, however, continue to indicate a precipitous descent. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

China (X units), Japan (X units) and the United States (X units) were the main suppliers of self-propelled railway coach imports to South Korea, with a combined X% share of total imports. Moreover, self-propelled railway coach imports in China exceeded the figures recorded by the second-largest supplier, Japan, twofold.

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

In value terms, China ($X), Japan ($X) and Turkey ($X) constituted the largest self-propelled railway coach suppliers to South Korea, with a combined X% share of total imports.

In terms of the main suppliers, China, 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 self-propelled railway coach import price amounted to $X per unit, with a decrease of X% against the previous year. In general, the import price faced a abrupt setback. The most prominent rate of growth was recorded in 2019 an increase of X%. The import price peaked at $X,000 per unit in 2012; however, from 2013 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 Japan ($X per unit), while the price for the United States ($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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