Price for Reciprocating or Rotary Internal Combustion Piston Engines in South Korea - 2022
Contents:
- Price for Reciprocating or Rotary Internal Combustion Piston Engines in South Korea (FOB) - 2022
- Price for Reciprocating or Rotary Internal Combustion Piston Engines in South Korea (CIF) - 2022
- Exports of Reciprocating or Rotary Internal Combustion Piston Engines in South Korea
- Imports of Reciprocating or Rotary Internal Combustion Piston Engines in South Korea
Price for Reciprocating or Rotary Internal Combustion Piston Engines in South Korea (FOB) - 2022
In December 2022, the average export price for reciprocating or rotary internal combustion piston engineses amounted to $2,330 per unit, which is down by -2.5% against the previous month. In general, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in January 2022 when the average export price increased by 8.1% m-o-m. As a result, the export price reached the peak level of $2,434 per unit; afterwards, it flattened through to December 2022.
There were significant differences in the average prices for the major export markets. In December 2022, the country with the highest price was Slovenia ($2,804 per unit), while the average price for exports to Slovakia ($1,826 per unit) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (+3.7%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Reciprocating or Rotary Internal Combustion Piston Engines in South Korea (CIF) - 2022
In December 2022, the average import price for reciprocating or rotary internal combustion piston engineses amounted to $759 per unit, dropping by -33.2% against the previous month. Overall, the import price saw a noticeable slump. The pace of growth appeared the most rapid in February 2022 an increase of 79% m-o-m. Over the period under review, average import prices hit record highs at $1,136 per unit in November 2022, and then shrank markedly in the following month.
Prices varied noticeably by the country of origin: the country with the highest price was Mexico ($2,474 per unit), while the price for the United States ($301 per unit) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by China (+3.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Reciprocating or Rotary Internal Combustion Piston Engines in South Korea
In 2022, the amount of reciprocating or rotary internal combustion piston engineses exported from South Korea expanded rapidly to 1.2M units, surging by 5.8% against 2021 figures. The total export volume increased at an average annual rate of +2.9% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 38%. Over the period under review, the exports of reached the peak figure in 2022 and are expected to retain growth in the near future.
In value terms, exports of reciprocating or rotary internal combustion piston engineses expanded slightly to $1.9B in 2022. The total export value increased at an average annual rate of +1.3% over the period 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 2021 with an increase of 37% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in years to come.
| Export of Reciprocating or Rotary Internal Combustion Piston Engines in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 520 | 482 | 500 | 616 | 5.8% |
| Slovakia | 256 | 249 | 374 | 285 | 3.6% |
| Brazil | 218 | 91.1 | 152 | 210 | -1.2% |
| Turkey | 113 | 108 | 235 | 161 | 12.5% |
| Kazakhstan | 20.5 | 27.5 | 72.2 | 147 | 92.8% |
| Vietnam | 65.7 | 63.6 | 92.9 | 117 | 21.2% |
| Czech Republic | 130 | 88.0 | 77.0 | 94.0 | -10.2% |
| Mexico | 36.3 | 13.3 | 47.7 | 72.9 | 26.2% |
| India | 159 | 62.8 | 58.6 | 71.5 | -23.4% |
| Russia | 137 | 117 | 171 | N/A | 11.7% |
| Others | 209 | 85.7 | 124 | 161 | -8.3% |
| Total | 1,864 | 1,388 | 1,904 | 1,935 | 1.3% |
Top Export Markets for Reciprocating or Rotary Internal Combustion Piston Engines from South Korea in 2022:
- United States (289.9K units)
- Brazil (173.6K units)
- Slovakia (150.3K units)
- India (111.2K units)
- Mexico (93.4K units)
- Turkey (89.3K units)
- Vietnam (63.4K units)
- Kazakhstan (61.8K units)
- Czech Republic (43.7K units)
Imports of Reciprocating or Rotary Internal Combustion Piston Engines in South Korea
In 2022, after two years of decline, there was growth in purchases abroad of reciprocating or rotary internal combustion piston engineses, when their volume increased by 0.7% to 135K units. In general, imports, however, faced a precipitous contraction. Over the period under review, imports of attained the maximum at 389K units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.
In value terms, imports of reciprocating or rotary internal combustion piston engineses fell to $185M in 2022. Over the period under review, imports, however, faced a precipitous slump. Over the period under review, imports of reached the maximum at $812M in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.
| Import of Reciprocating or Rotary Internal Combustion Piston Engines in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 161 | 55.9 | 67.7 | 75.6 | -22.3% |
| United States | 52.1 | 58.7 | 72.5 | 47.1 | -3.3% |
| India | 1.7 | 4.5 | 6.7 | 17.9 | 119.2% |
| China | 158 | 11.5 | 14.8 | 13.6 | -55.8% |
| Thailand | 6.3 | 14.8 | 7.8 | 8.5 | 10.5% |
| Singapore | 158 | 37.6 | N/A | 5.3 | -67.7% |
| United Arab Emirates | 5.6 | 0.1 | N/A | 5.1 | -3.1% |
| Austria | 140 | 97.2 | 0.3 | 0.1 | -91.1% |
| Mexico | 105 | N/A | N/A | N/A | 0% |
| Others | 23.3 | 29.9 | 32.1 | 12.0 | -19.8% |
| Total | 812 | 310 | 202 | 185 | -38.9% |
Top Suppliers of Reciprocating or Rotary Internal Combustion Piston Engines to South Korea in 2022:
- Japan (68.2K units)
- China (19.4K units)
- United States (18.8K units)
- Thailand (11.5K units)
- India (7.6K units)
- Singapore (2.4K units)
- United Arab Emirates (2.3K units)
- Austria (0.1K units)
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