Republic of Korea: Domestic Electro-Thermic Appliances Market 2024

Domestic Electro-Thermic Appliances Market Size in Republic of Korea

The South Korean domestic electro-thermic appliances market rose slightly to $X in 2022, increasing by X% against the previous year. In general, the total consumption indicated measured 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, consumption increased by X% against 2012 indices. Domestic electro-thermic appliances consumption peaked in 2022 and is expected to retain growth in the immediate term.

Domestic Electro-Thermic Appliances Production in Republic of Korea

In value terms, domestic electro-thermic appliances production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2015 when the production volume increased by X%. Domestic electro-thermic appliances production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Domestic Electro-Thermic Appliances Exports

Exports from Republic of Korea

In 2022, exports of domestic electro-thermic appliances from South Korea declined rapidly to X units, with a decrease of X% against 2021. Over the period under review, exports showed a mild descent. The growth pace was the most rapid in 2016 when exports increased by X%. As a result, the exports reached the peak of X units. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, domestic electro-thermic appliances exports shrank modestly to $X in 2022. In general, total exports indicated buoyant 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, exports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X, and then declined in the following year.

Exports by Country

The United States (X units), Japan (X units) and China (X units) were the main destinations of domestic electro-thermic appliances exports from South Korea, with a combined X% share of total exports.

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

In value terms, the United States ($X) remains the key foreign market for domestic electro-thermic appliances exports from South Korea, comprising X% of total exports. The second position in the ranking was held by China ($X), with an X% share of total exports. It was followed by Japan, with an X% share.

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

Export Prices by Country

In 2022, the average domestic electro-thermic appliances export price amounted to $X per unit, growing by X% against the previous year. Overall, the export price saw prominent growth. The pace of growth appeared the most rapid in 2017 an increase of X%. The export price peaked in 2022 and is likely to continue growth in years to come.

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 Canada ($X per unit), while the average price for exports to the UK ($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 Canada (X%), while the prices for the other major destinations experienced more modest paces of growth.

Domestic Electro-Thermic Appliances Imports

Imports into Republic of Korea

In 2022, the amount of domestic electro-thermic appliances imported into South Korea rose notably to X units, growing by X% compared with 2021 figures. Over the period under review, imports continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, domestic electro-thermic appliances imports dropped modestly to $X in 2022. In general, imports enjoyed buoyant growth. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. Imports peaked at $X in 2021, and then shrank in the following year.

Imports by Country

China (X units), the Philippines (X units) and Malaysia (X units) were the main suppliers of domestic electro-thermic appliances imports to South Korea, together accounting for X% of total imports.

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

In value terms, China ($X) constituted the largest supplier of domestic electro-thermic appliances to South Korea, comprising X% of total imports. The second position in the ranking was held by Malaysia ($X), with a X% share of total imports.

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

Import Prices by Country

In 2022, the average domestic electro-thermic appliances import price amounted to $X per unit, waning by X% against the previous year. In general, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of X%. The import price peaked at $X per unit in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

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