Republic of Korea: Market for Hydraulic Pumps (Gear or Vane) and other Rotary Positive Displacement Pumps 2024

Market Size for Hydraulic Pumps (Gear or Vane) and other Rotary Positive Displacement Pumps in Republic of Korea

The South Korean market for hydraulic pumps (gear or vane) and other rotary positive displacement pumps shrank to $X in 2022, approximately equating the previous year. Overall, consumption recorded a noticeable expansion. Consumption of peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Production of Hydraulic Pumps (Gear or Vane) and other Rotary Positive Displacement Pumps in Republic of Korea

In value terms, production of hydraulic pumps (gear or vane) and other rotary positive displacement pumps contracted to $X in 2022 estimated in export price. Overall, production posted a tangible increase. The growth pace was the most rapid in 2018 with an increase of X%. Production of peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of Hydraulic Pumps (Gear or Vane) and other Rotary Positive Displacement Pumps

Exports from Republic of Korea

In 2022, overseas shipments of hydraulic pumps (gear or vane) and other rotary positive displacement pumps decreased by X% to X units for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports, however, enjoyed a prominent increase. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. The exports peaked at X units in 2021, and then contracted significantly in the following year.

In value terms, exports of hydraulic pumps (gear or vane) and other rotary positive displacement pumps fell to $X in 2022. Overall, exports, however, posted buoyant growth. The pace of growth appeared the most rapid in 2016 when exports increased by X% against the previous year. The exports peaked at $X in 2021, and then reduced in the following year.

Exports by Country

China (X units) was the main destination for exports of hydraulic pumps (gear or vane) and other rotary positive displacement pumps from South Korea, accounting for a X% share of total exports. Moreover, exports of hydraulic pumps (gear or vane) and other rotary positive displacement pumps to China exceeded the volume sent to the second major destination, the United States (X units), threefold. The third position in this ranking was held by Brazil (X units), with a X% share.

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

In value terms, the United States ($X), Mexico ($X) and China ($X) were the largest markets for hydraulic pump (gear or vane) and other rotary positive displacement pump exported from South Korea worldwide, together accounting for X% of total exports.

The United States, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of 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 export price for hydraulic pumps (gear or vane) and other rotary positive displacement pumps amounted to $X per unit, rising by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. The export price peaked at $X per unit in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Mexico ($X per unit), while the average price for exports to China ($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 Mexico (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Hydraulic Pumps (Gear or Vane) and other Rotary Positive Displacement Pumps

Imports into Republic of Korea

After four years of growth, overseas purchases of hydraulic pumps (gear or vane) and other rotary positive displacement pumps decreased by X% to X units in 2022. Over the period under review, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. Imports peaked at X units in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, imports of hydraulic pumps (gear or vane) and other rotary positive displacement pumps shrank modestly to $X in 2022. In general, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports of reached the maximum at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Italy (X units) constituted the largest hydraulic pump (gear or vane) and other rotary positive displacement pump supplier to South Korea, with a X% share of total imports. Moreover, imports of hydraulic pumps (gear or vane) and other rotary positive displacement pumps from Italy exceeded the figures recorded by the second-largest supplier, China (X units), threefold. The third position in this ranking was held by Japan (X units), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Italy totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Japan (X% per year).

In value terms, the largest hydraulic pump (gear or vane) and other rotary positive displacement pump suppliers to South Korea were China ($X), Japan ($X) and Germany ($X), with a combined X% share of total imports.

In terms of the main suppliers, China, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for hydraulic pumps (gear or vane) and other rotary positive displacement pumps stood at $X per unit in 2022, surging 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 2015 an increase of X%. Over the period under review, average import prices attained the peak figure at $X per unit in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

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 the United States ($X per unit), while the price for Mexico ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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