Republic of Korea: Railway Goods Wagon Market 2024

Railway Goods Wagon Market Size in Republic of Korea

The South Korean railway goods wagon market expanded to $X in 2022, picking up by X% against the previous year. Over the period under review, consumption continues to indicate temperate growth. Railway goods wagon consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Railway Goods Wagon Production in Republic of Korea

In value terms, railway goods wagon production expanded to $X in 2022 estimated in export price. Overall, production continues to indicate a modest expansion. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

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Railway Goods Wagon Exports

Exports from Republic of Korea

Railway goods wagon exports from South Korea skyrocketed to X units in 2022, jumping by X% against the previous year. Over the period under review, exports, however, continue to indicate a drastic downturn. The growth pace was the most rapid in 2018 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X units in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, railway goods wagon exports surged to $X in 2022. Overall, exports, however, saw a drastic downturn. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Egypt (X units) was the main destination for railway goods wagon exports from South Korea, with a X% share of total exports. Moreover, railway goods wagon exports to Egypt exceeded the volume sent to the second major destination, Venezuela (X units), twofold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Egypt was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Venezuela (X% per year) and China (X% per year).

In value terms, Egypt ($X) emerged as the key foreign market for railway or tramway goods vans and wagons (not self-propelled) exports from South Korea, comprising X% of total exports. The second position in the ranking was held by Venezuela ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Egypt was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Venezuela (X% per year) and China (X% per year).

Export Prices by Country

In 2022, the average railway goods wagon export price amounted to $X per unit, with an increase of X% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the average export price increased by X%. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to see gradual growth in the near future.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per unit), while the average price for exports to Venezuela ($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 Venezuela (X%), while the prices for the other major destinations experienced more modest paces of growth.

Railway Goods Wagon Imports

Imports into Republic of Korea

In 2022, approx. X units of railway or tramway goods vans and wagons (not self-propelled) were imported into South Korea; jumping by X% compared with the year before. In general, imports showed a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, railway goods wagon imports soared to $X in 2022. Over the period under review, imports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, China (X units) was the main supplier of railway goods wagon to South Korea, accounting for a X% share of total imports. It was followed by the Czech Republic (X units), with a X% share of total imports.

From 2013 to 2022, the average annual growth rate of volume from China amounted to X%.

In value terms, China ($X) constituted the largest supplier of railway or tramway goods vans and wagons (not self-propelled) to South Korea, comprising X% of total imports. The second position in the ranking was held by the Czech Republic ($X), with less than X% share of total imports.

From 2013 to 2022, the average annual growth rate of value from China amounted to X%.

Import Prices by Country

The average railway goods wagon import price stood at $X per unit in 2022, with an increase of X% against the previous year. In general, the import price recorded a prominent expansion. The most prominent rate of growth was recorded in 2017 an increase of X%. Over the period under review, average import prices reached the maximum in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per unit), while the price for the Czech Republic amounted to $X per unit.

From 2013 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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