Cranes; Tower Cranes Price in South Korea - 2022
Contents:
- Cranes; Tower Cranes Price in South Korea (CIF) - 2022
- Cranes; Tower Cranes Price in South Korea (FOB) - 2022
- Cranes; Tower Cranes Imports in South Korea
- Cranes; Tower Cranes Exports in South Korea
Cranes; Tower Cranes Price in South Korea (CIF) - 2022
The average cranes; tower cranes import price stood at $106,301 per unit in 2022, rising by 3.3% against the previous year. Over the period under review, import price indicated buoyant growth from 2012 to 2022: its price increased at an average annual rate of +7.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cranes; tower cranes import price decreased by -6.1% against 2020 indices. The pace of growth appeared the most rapid in 2013 an increase of 77% against the previous year. The import price peaked at $115,508 per unit in 2015; however, from 2016 to 2022, import prices failed to regain momentum.
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 France ($265,799 per unit), while the price for Germany ($51,162 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+9.4%), while the prices for the other major suppliers experienced mixed trend patterns.
Cranes; Tower Cranes Price in South Korea (FOB) - 2022
In 2022, the average cranes; tower cranes export price amounted to $75,732 per unit, therefore, remained relatively stable against the previous year. Overall, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 128%. As a result, the export price reached the peak level of $123,677 per unit. From 2021 to 2022, the average export prices remained at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Saudi Arabia ($239,939 per unit), while the average price for exports to Egypt ($15,616 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 Qatar (+37.7%), while the prices for the other major destinations experienced more modest paces of growth.
Cranes; Tower Cranes Imports in South Korea
Cranes; tower cranes imports into South Korea shrank remarkably to 712 units in 2022, falling by -31.3% on the previous year's figure. Over the period under review, imports, however, showed a notable increase. The pace of growth appeared the most rapid in 2021 with an increase of 163% against the previous year. As a result, imports reached the peak of 1K units, and then declined markedly in the following year.
In value terms, cranes; tower cranes imports contracted sharply to $76M in 2022. In general, imports, however, posted a resilient increase. The most prominent rate of growth was recorded in 2021 when imports increased by 139% against the previous year. As a result, imports reached the peak of $107M, and then reduced notably in the following year.
| Import of Cranes; Tower Cranes in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 37.2 | 34.7 | 63.0 | 49.5 | 10.0% |
| France | 9.4 | 1.6 | 20.9 | 16.4 | 20.4% |
| Italy | 6.1 | 3.6 | 9.1 | 7.2 | 5.7% |
| Malaysia | 0.8 | 1.2 | 1.7 | 1.4 | 20.5% |
| Germany | 1.0 | 0.4 | 1.6 | 1.3 | 9.1% |
| United Arab Emirates | N/A | 2.6 | 8.2 | N/A | 215.4% |
| Others | 2.8 | 0.6 | 2.2 | N/A | -11.4% |
| Total | 57.3 | 44.7 | 107 | 75.7 | 9.7% |
Top Suppliers of Cranes; Tower Cranes to South Korea in 2022:
- China (556.0 units)
- France (62.0 units)
- Italy (48.0 units)
- Germany (25.0 units)
- Malaysia (22.0 units)
Cranes; Tower Cranes Exports in South Korea
Cranes; tower cranes exports from South Korea expanded slightly to 209 units in 2022, with an increase of 3% on the previous year's figure. Overall, exports, however, showed a deep setback. The pace of growth was the most pronounced in 2021 with an increase of 55%. The exports peaked at 283 units in 2019; however, from 2020 to 2022, the exports failed to regain momentum.
In value terms, cranes; tower cranes exports rose modestly to $16M in 2022. The total export value increased at an average annual rate of +1.1% over the period from 2019 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 5.5%. As a result, the exports reached the peak of $16M. From 2021 to 2022, the growth of the exports failed to regain momentum.
| Export of Cranes; Tower Cranes in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Saudi Arabia | 0.2 | 0.3 | 7.7 | 6.9 | 225.5% |
| Malaysia | 0.8 | 2.5 | 2.6 | 2.3 | 42.2% |
| Philippines | 0.1 | 0.2 | 2.0 | 1.8 | 162.1% |
| Vietnam | 6.2 | 0.9 | 0.5 | 1.6 | -36.3% |
| United States | 1.4 | 1.0 | 1.1 | 1.0 | -10.6% |
| Thailand | 2.8 | 0.5 | 0.2 | 0.7 | -37.0% |
| Canada | 0.9 | 1.0 | 0.1 | 0.5 | -17.8% |
| Indonesia | 0.2 | 0.2 | 0.5 | 0.5 | 35.7% |
| Singapore | 0.7 | 0.1 | 0.3 | 0.3 | -24.6% |
| Egypt | 0.6 | 0.2 | 0.3 | 0.3 | -20.6% |
| Netherlands | 0.3 | N/A | N/A | N/A | 0% |
| Turkey | N/A | N/A | N/A | N/A | 0% |
| Others | 1.1 | 9.3 | 0.2 | 0.2 | -43.3% |
| Total | 15.4 | 16.2 | 15.5 | 15.9 | 1.1% |
Top Export Markets for Cranes; Tower Cranes from South Korea in 2022:
- Philippines (61.0 units)
- Saudi Arabia (29.0 units)
- Vietnam (25.0 units)
- Malaysia (21.0 units)
- Indonesia (17.0 units)
- Egypt (16.0 units)
- Singapore (12.0 units)
- Thailand (12.0 units)
- United States (8.0 units)
- Canada (5.0 units)
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