Price for Electric Motors; of an Output Not Exceeding 37.5W in South Korea - 2022
Contents:
- Price for Electric Motors; of an Output Not Exceeding 37.5W in South Korea (CIF) - 2022
- Price for Electric Motors; of an Output Not Exceeding 37.5W in South Korea (FOB) - 2022
- Imports of Electric Motors; of an Output Not Exceeding 37.5W in South Korea
- Exports of Electric Motors; of an Output Not Exceeding 37.5W in South Korea
Price for Electric Motors; of an Output Not Exceeding 37.5W in South Korea (CIF) - 2022
In 2022, the average import price for electric motors amounted to $3.1 per unit, surging by 16% against the previous year. In general, the import price continues to indicate noticeable growth. The growth pace was the most rapid in 2016 when the average import price increased by 98% against the previous year. Over the period under review, average import prices reached the maximum at $12 per unit in 2017; however, from 2018 to 2022, import prices stood at a somewhat 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 Philippines ($21 per unit), while the price for Germany ($1.3 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (-0.1%), while the prices for the other major suppliers experienced a decline.
Price for Electric Motors; of an Output Not Exceeding 37.5W in South Korea (FOB) - 2022
The average export price for electric motors stood at $7.2 per unit in 2022, increasing by 28% against the previous year. In general, the export price posted a strong increase. The most prominent rate of growth was recorded in 2015 when the average export price increased by 70% against the previous year. Over the period under review, the average export prices attained the maximum at $8.9 per unit in 2019; however, from 2020 to 2022, 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 Philippines ($37 per unit), while the average price for exports to France ($1.8 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 (+11.1%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Electric Motors; of an Output Not Exceeding 37.5W in South Korea
In 2022, overseas purchases of electric motors decreased by -12.8% to 160M units for the first time since 2018, thus ending a three-year rising trend. The total import volume increased at an average annual rate of +9.3% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 with an increase of 27%. Imports peaked at 183M units in 2021, and then shrank in the following year.
In value terms, imports of electric motors stood at $490M in 2022. Overall, imports recorded a abrupt shrinkage. The pace of growth appeared the most rapid in 2021 when imports increased by 7.2%. Over the period under review, imports of hit record highs at $660M in 2019; however, from 2020 to 2022, imports failed to regain momentum.
| Import of Electric Motors; of an Output Not Exceeding 37.5W in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 394 | 247 | 268 | 226 | -16.9% |
| Philippines | 70.1 | 101 | 164 | 221 | 46.6% |
| Germany | 19.0 | 8.4 | 4.8 | 2.7 | -47.8% |
| Others | 178 | 97.9 | 49.6 | 41.1 | -38.7% |
| Total | 660 | 454 | 486 | 490 | -9.5% |
Top Suppliers of Electric Motors; of an Output Not Exceeding 37.5W to South Korea in 2022:
- China (142.9M units)
- Philippines (10.6M units)
- Germany (2.0M units)
Exports of Electric Motors; of an Output Not Exceeding 37.5W in South Korea
In 2022, exports of electric motors from South Korea reduced remarkably to 58M units, with a decrease of -17.6% compared with the previous year's figure. Over the period under review, total exports indicated a noticeable increase from 2019 to 2022: its volume increased at an average annual rate of +3.6% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +36.8% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 66% against the previous year. As a result, the exports reached the peak of 70M units, and then fell notably in the following year.
In value terms, exports of electric motors stood at $414M in 2022. Overall, exports showed a noticeable curtailment. The growth pace was the most rapid in 2021 with an increase of 20% against the previous year. Over the period under review, the exports of reached the maximum at $459M in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.
| Export of Electric Motors; of an Output Not Exceeding 37.5W in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 115 | 83.5 | 122 | 114 | -0.3% |
| Mexico | 43.7 | 27.6 | 48.9 | 61.6 | 12.1% |
| China | 79.8 | 53.1 | 61.1 | 42.0 | -19.3% |
| Philippines | 2.4 | 10.6 | 5.5 | 36.9 | 148.7% |
| India | 29.8 | 19.2 | 19.8 | 27.0 | -3.2% |
| Japan | 25.0 | 17.1 | 16.6 | 14.7 | -16.2% |
| Slovakia | 19.9 | 13.9 | 18.5 | 14.4 | -10.2% |
| Czech Republic | 11.6 | 7.2 | 10.6 | 8.7 | -9.1% |
| Thailand | 9.1 | 7.9 | 5.9 | 4.1 | -23.3% |
| Poland | 4.6 | 4.1 | 3.9 | 3.5 | -8.7% |
| France | 4.0 | 1.4 | 4.2 | 2.9 | -10.2% |
| Hong Kong SAR | 1.4 | 0.6 | 1.7 | 2.4 | 19.7% |
| Canada | 2.7 | 1.9 | 2.2 | 1.9 | -11.1% |
| Others | 109 | 79.2 | 71.3 | 79.7 | -9.9% |
| Total | 459 | 327 | 393 | 414 | -3.4% |
Top Export Markets for Electric Motors; of an Output Not Exceeding 37.5W from South Korea in 2022:
- China (10.6M units)
- United States (10.3M units)
- India (8.5M units)
- Mexico (8.4M units)
- Slovakia (3.5M units)
- France (1.7M units)
- Czech Republic (1.6M units)
- Thailand (1.6M units)
- Poland (1.2M units)
- Hong Kong SAR (1.2M units)
- Canada (1.1M units)
- Japan (1.1M units)
- Philippines (1.0M units)
353
This report provides an in-depth analysis of the dc motor market in Republic of Korea.
339
This report provides an in-depth analysis of the ac/dc motor market in Republic of Korea.
1048
This report provides an in-depth analysis of the global dc motor market.
1369
This report provides an in-depth analysis of the global ac/dc motor market.
353
This report provides an in-depth analysis of the dc motor market in Republic of Korea.
339
This report provides an in-depth analysis of the ac/dc motor market in Republic of Korea.
1048
This report provides an in-depth analysis of the global dc motor market.
1369
This report provides an in-depth analysis of the global ac/dc motor market.
77
Explore the top import markets for DC motors in 2023 and discover key statistics and insights.
807
In 2016, approx. X tons of motor were imported worldwide- flattening at the previous year level. In general, motor imports continue to indicate a drastic deduction. The pace of growth was the mos...
1200
China continued its dominance in the global motor trade. In 2014, China exported X million units of motors totaling X million USD, X% over the previous year. Its primary trading partner was the U.S., where it supplied X% of its total motor ex
1270
China seized control of the AC/DC motor market. In 2014, China exported X kt of AC/DC motors totaling $X, X% over the previous year. Its primary trading partner was the U.S., where it supplied X% of its total AC/DC motor exports in value term
77
Explore the top import markets for DC motors in 2023 and discover key statistics and insights.
807
In 2016, approx. X tons of motor were imported worldwide- flattening at the previous year level. In general, motor imports continue to indicate a drastic deduction. The pace of growth was the mos...
1200
China continued its dominance in the global motor trade. In 2014, China exported X million units of motors totaling X million USD, X% over the previous year. Its primary trading partner was the U.S., where it supplied X% of its total motor ex
1270
China seized control of the AC/DC motor market. In 2014, China exported X kt of AC/DC motors totaling $X, X% over the previous year. Its primary trading partner was the U.S., where it supplied X% of its total AC/DC motor exports in value term
