Price for Electric Motors and Generators; DC, of an Output Not Exceeding 750W in South Korea - 2022
Contents:
- Price for Electric Motors and Generators; DC, of an Output Not Exceeding 750W in South Korea (FOB) - 2022
- Price for Electric Motors and Generators; DC, of an Output Not Exceeding 750W in South Korea (CIF) - 2022
- Exports of Electric Motors and Generators; DC, of an Output Not Exceeding 750W in South Korea
- Imports of Electric Motors and Generators; DC, of an Output Not Exceeding 750W in South Korea
Price for Electric Motors and Generators; DC, of an Output Not Exceeding 750W in South Korea (FOB) - 2022
In 2022, the average export price for electric motors and generators amounted to $16 per unit, declining by -6.9% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average export price increased by 53%. As a result, the export price reached the peak level of $24 per unit. From 2015 to 2022, the average export prices remained at a somewhat lower figure.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was China ($25 per unit), while the average price for exports to Russia ($3.4 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 China (+13.0%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Electric Motors and Generators; DC, of an Output Not Exceeding 750W in South Korea (CIF) - 2022
In 2022, the average import price for electric motors and generators amounted to $20 per unit, rising by 6.8% against the previous year. Overall, the import price enjoyed perceptible growth. The pace of growth appeared the most rapid in 2015 an increase of 47%. The import price peaked at $36 per unit in 2016; however, from 2017 to 2022, import prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($30 per unit), while the price for China ($13 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+5.4%), while the prices for the other major suppliers experienced a decline.
Exports of Electric Motors and Generators; DC, of an Output Not Exceeding 750W in South Korea
In 2022, the amount of electric motors and generators exported from South Korea reduced to 29M units, shrinking by -10.4% against the previous year. The total export volume increased at an average annual rate of +1.4% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 35%. As a result, the exports reached the peak of 32M units, and then contracted in the following year.
In value terms, exports of electric motors and generators declined rapidly to $447M in 2022. Overall, exports showed a abrupt curtailment. The most prominent rate of growth was recorded in 2021 when exports increased by 27% against the previous year. As a result, the exports reached the peak of $536M, and then dropped sharply in the following year.
| Export of Electric Motors and Generators; DC, of an Output Not Exceeding 750W in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 207 | 173 | 198 | 168 | -6.7% |
| China | 134 | 91.8 | 109 | 95.5 | -10.7% |
| Mexico | 34.2 | 31.7 | 49.2 | 45.1 | 9.7% |
| India | 12.1 | 7.8 | 11.6 | 14.1 | 5.2% |
| Slovakia | 12.6 | 13.6 | 18.4 | 11.8 | -2.2% |
| Poland | 13.5 | 12.9 | 19.4 | 9.4 | -11.4% |
| Czech Republic | 4.7 | 4.2 | 8.8 | 7.9 | 18.9% |
| Turkey | 19.1 | 18.1 | 7.8 | 5.7 | -33.2% |
| Germany | 10.6 | 6.3 | 7.2 | 5.7 | -18.7% |
| Brazil | 2.1 | 2.6 | 3.4 | 4.9 | 32.6% |
| Thailand | 6.4 | 5.0 | 8.8 | 4.6 | -10.4% |
| Russia | 5.0 | 4.5 | 4.6 | 1.7 | -30.2% |
| Others | 62.1 | 49.9 | 89.7 | 72.8 | 5.4% |
| Total | 523 | 421 | 536 | 447 | -5.1% |
Top Export Markets for Electric Motors and Generators; DC, of an Output Not Exceeding 750W from South Korea in 2022:
- United States (11.3M units)
- Mexico (5.7M units)
- China (3.8M units)
- Czech Republic (1.3M units)
- India (1.3M units)
- Poland (1.0M units)
- Brazil (0.7M units)
- Thailand (0.7M units)
- Slovakia (0.6M units)
- Russia (0.5M units)
- Germany (0.4M units)
- Turkey (0.3M units)
Imports of Electric Motors and Generators; DC, of an Output Not Exceeding 750W in South Korea
In 2022, overseas purchases of electric motors and generators decreased by -8.7% to 19M units for the first time since 2018, thus ending a three-year rising trend. In general, total imports indicated a resilient increase from 2019 to 2022: its volume increased at an average annual rate of +12.5% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +42.3% against 2019 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 32%. As a result, imports reached the peak of 21M units, and then fell in the following year.
In value terms, imports of electric motors and generators contracted slightly to $378M in 2022. Overall, total imports indicated a buoyant increase from 2019 to 2022: its value increased at an average annual rate of +15.1% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +52.6% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 40% against the previous year. As a result, imports attained the peak of $387M, and then shrank modestly in the following year.
| Import of Electric Motors and Generators; DC, of an Output Not Exceeding 750W in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 125 | 146 | 215 | 212 | 19.3% |
| Japan | 28.9 | 39.9 | 52.4 | 42.6 | 13.8% |
| Germany | 26.3 | 18.2 | 24.1 | 24.8 | -1.9% |
| United States | 12.7 | 13.0 | 14.9 | 16.0 | 8.0% |
| Others | 54.9 | 59.1 | 80.6 | 82.6 | 14.6% |
| Total | 247 | 276 | 387 | 378 | 15.2% |
Top Suppliers of Electric Motors and Generators; DC, of an Output Not Exceeding 750W to South Korea in 2022:
- China (16.4M units)
- Germany (1.5M units)
- United States (0.5M units)
- Japan (0.2M units)
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