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Republic of Korea - Motor Boats and Motor Yachts, for Pleasure or Sports - Market Analysis, Forecast, Size, Trends and Insights
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View PricingRepublic of Korea: Motor Boat Market 2024
Motor Boat Market Size in Republic of Korea
In 2023, the South Korean motor boat market decreased by X% to $X for the first time since 2020, thus ending a two-year rising trend. Overall, consumption, however, showed a buoyant increase. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2023, consumption stood at a somewhat lower figure.
Motor Boat Exports
Exports from Republic of Korea
In 2023, the amount of motor boats and motor yachts, for pleasure or sports exported from South Korea was estimated at X units, almost unchanged from 2022 figures. In general, exports continue to indicate a abrupt decline. The growth pace was the most rapid in 2015 when exports increased by X% against the previous year. The exports peaked at X units in 2013; however, from 2014 to 2023, the exports remained at a lower figure.
In value terms, motor boat exports contracted remarkably to $X in 2023. Overall, exports showed a precipitous slump. The most prominent rate of growth was recorded in 2022 when exports increased by X%. The exports peaked at $X in 2012; however, from 2013 to 2023, the exports failed to regain momentum.
Exports by Country
The Philippines (X units), Russia (X units) and Thailand (X units) were the main destinations of motor boat exports from South Korea, with a combined X% share of total exports.
From 2012 to 2023, the biggest increases were recorded for the Philippines (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.
In value terms, the United States ($X), China ($X) and the Philippines ($X) constituted the largest markets for motor boat exported from South Korea worldwide, together comprising X% of total exports. Malaysia, Japan, Micronesia, Thailand, Kuwait, Egypt, the United Arab Emirates, Russia and Canada lagged somewhat behind, together accounting for a further X%.
In terms of the main countries of destination, Egypt, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline.
Export Prices by Country
In 2023, the average motor boat export price amounted to $X per unit, falling by X% against the previous year. In general, the export price faced a abrupt curtailment. The most prominent rate of growth was recorded in 2022 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the maximum at $X per unit in 2012; however, from 2013 to 2023, the export prices failed to regain momentum.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Canada ($X per unit) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Egypt (X%), while the prices for the other major destinations experienced a decline.
Motor Boat Imports
Imports into Republic of Korea
In 2023, after two years of growth, there was significant decline in supplies from abroad of motor boats and motor yachts, for pleasure or sports, when their volume decreased by X% to X units. Overall, imports, however, continue to indicate a strong increase. The pace of growth was the most pronounced in 2019 when imports increased by X%. As a result, imports reached the peak of X units. From 2020 to 2023, the growth of imports failed to regain momentum.
In value terms, motor boat imports declined modestly to $X in 2023. In general, imports, however, continue to indicate a strong expansion. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at $X in 2022, and then dropped in the following year.
Imports by Country
The United States (X units), Germany (X units) and Finland (X units) were the main suppliers of motor boat imports to South Korea, together comprising X% of total imports.
From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Germany (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.
In value terms, the United States ($X), Italy ($X) and Germany ($X) appeared to be the largest motor boat suppliers to South Korea, with a combined X% share of total imports.
Italy, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Import Prices by Country
The average motor boat import price stood at $X per unit in 2023, surging by X% against the previous year. In general, import price indicated a buoyant expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, motor boat import price increased by X% against 2019 indices. The growth pace was the most rapid in 2021 an increase of X% against the previous year. The import price peaked in 2023 and is expected to retain growth in the near future.
There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Italy ($X per unit), while the price for Canada ($X per unit) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Italy (X%), while the prices for the other major suppliers experienced more modest paces of growth.
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This report provides an in-depth analysis of the motor boat 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 30121930 - Motor boats and motor yachts, for pleasure or sports (excluding outboard motor boats)
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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