Republic of Korea - Heat Pumps other than Air Conditioning Machines - Market Analysis, Forecast, Size, Trends And Insights
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View PricingHeat Pump Price in South Korea - 2022
Contents:
- Heat Pump Price in South Korea (FOB) - 2022
- Heat Pump Price in South Korea (CIF) - 2022
- Heat Pump Exports in South Korea
- Heat Pump Imports in South Korea
Heat Pump Price in South Korea (FOB) - 2022
The average heat pump export price stood at $1,218 per unit in 2022, waning by -7.1% against the previous year. Overall, export price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, heat pump export price increased by +28.9% against 2019 indices. The pace of growth was the most pronounced in 2017 an increase of 78% against the previous year. The export price peaked at $1,310 per unit in 2021, and then shrank in the following year.
Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Italy ($1,416 per unit), while the average price for exports to the Netherlands ($1,205 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 France (+17.2%), while the prices for the other major destinations experienced a decline.
Heat Pump Price in South Korea (CIF) - 2022
In 2022, the average heat pump import price amounted to $1,788 per unit, with a decrease of -8.2% against the previous year. Overall, the import price recorded a slight contraction. The growth pace was the most rapid in 2021 an increase of 42% against the previous year. Over the period under review, average import prices hit record highs at $2,388 per unit in 2016; however, from 2017 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 Poland ($6,447 per unit), while the price for China ($1,373 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+4.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Heat Pump Exports in South Korea
For the fourth consecutive year, South Korea recorded growth in overseas shipments of heat pumps other than air conditioning machines, which increased by 198% to 141K units in 2022. Overall, exports continue to indicate a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, heat pump exports surged to $171M in 2022. In general, exports recorded a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
Export of Heat Pump in South Korea (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Netherlands | 18.5 | 27.3 | 52.3 | 158 | 104.4% |
France | N/A | N/A | N/A | 3.4 | 0% |
Others | 2.8 | 4.5 | 9.6 | 10.0 | 52.9% |
Total | 21.3 | 31.8 | 61.9 | 171 | 100.2% |
Top Export Markets for Heat Pump from South Korea in 2022:
- Netherlands (131.0K units)
- France (2.5K units)
Heat Pump Imports in South Korea
In 2022, supplies from abroad of heat pumps other than air conditioning machines decreased by -1.3% to 3.5K units, falling for the second consecutive year after two years of growth. In general, imports saw a slight downturn. The growth pace was the most rapid in 2020 when imports increased by 17%. As a result, imports reached the peak of 4.4K units. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
In value terms, heat pump imports shrank to $6.3M in 2022. The total import value increased at an average annual rate of +8.2% over the period from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 when imports increased by 20%. Imports peaked at $7M in 2021, and then declined in the following year.
Import of Heat Pump in South Korea (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Japan | 2.0 | 2.4 | 3.4 | 3.8 | 23.9% |
China | 1.8 | 2.1 | 1.0 | 1.1 | -15.1% |
Poland | 0.5 | 0.3 | 1.3 | 1.0 | 26.0% |
United States | 0.1 | 0.2 | 0.4 | 0.3 | 44.2% |
Germany | 0.6 | 0.9 | 0.4 | 0.2 | -30.7% |
Others | N/A | 0.2 | 0.5 | N/A | 150.0% |
Total | 5.0 | 6.0 | 7.0 | 6.3 | 8.0% |
Top Suppliers of Heat Pump to South Korea in 2022:
- Japan (2461.0 units)
- China (784.0 units)
- Poland (154.0 units)
- United States (76.0 units)
- Germany (69.0 units)
This report provides an in-depth analysis of the heat pump market in Republic of Korea. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 28251380 - Heat pumps other than air conditioning machines of HS
Country coverage:
- South Korea
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Republic of Korea
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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