Price for Compression-Ignition Internal Combustion Piston Engines (Diesel or Semi-Diesel Engines) in South Korea - 2022
Contents:
- Price for Compression-Ignition Internal Combustion Piston Engines (Diesel or Semi-Diesel Engines) in South Korea (FOB) - 2022
- Price for Compression-Ignition Internal Combustion Piston Engines (Diesel or Semi-Diesel Engines) in South Korea (CIF) - 2022
- Exports of Compression-Ignition Internal Combustion Piston Engines (Diesel or Semi-Diesel Engines) in South Korea
- Imports of Compression-Ignition Internal Combustion Piston Engines (Diesel or Semi-Diesel Engines) in South Korea
Price for Compression-Ignition Internal Combustion Piston Engines (Diesel or Semi-Diesel Engines) in South Korea (FOB) - 2022
In December 2022, the average export price for compression-ignition internal combustion piston engines (diesel or semi-diesel engines) amounted to $15,857 per unit, rising by 7.2% against the previous month. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in October 2022 when the average export price increased by 27% month-to-month. The export price peaked at $17,027 per unit in April 2022; afterwards, it flattened through to December 2022.
There were significant differences in the average prices for the major foreign markets. In December 2022, the country with the highest price was China ($22,171 per unit), while the average price for exports to India ($9,492 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 Taiwan (Chinese) (+4.9%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Compression-Ignition Internal Combustion Piston Engines (Diesel or Semi-Diesel Engines) in South Korea (CIF) - 2022
The average import price for compression-ignition internal combustion piston engines (diesel or semi-diesel engines) stood at $10,222 per unit in 2022, with an increase of 4.7% against the previous year. In general, import price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for compression-ignition internal combustion piston engines (diesel or semi-diesel engines) increased by +33.0% against 2020 indices. The most prominent rate of growth was recorded in 2018 an increase of 97% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is expected to retain growth in the immediate term.
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 Germany ($16,653 per unit), while the price for Hungary ($1,131 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+12.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Compression-Ignition Internal Combustion Piston Engines (Diesel or Semi-Diesel Engines) in South Korea
In 2022, the amount of compression-ignition internal combustion piston engines (diesel or semi-diesel engines) exported from South Korea reduced notably to 143K units, dropping by -23.3% compared with the year before. In general, exports saw a abrupt decrease. The growth pace was the most rapid in 2021 when exports increased by 48%. Over the period under review, the exports of reached the maximum at 188K units in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.
In value terms, exports of compression-ignition internal combustion piston engines (diesel or semi-diesel engines) reached $1.2B in 2022. The total export value increased at an average annual rate of +2.8% from 2019 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 11%. Over the period under review, the exports of reached the peak figure in 2022 and are likely to see gradual growth in the immediate term.
| Export of Compression-Ignition Internal Combustion Piston Engines (Diesel or Semi-Diesel Engines) in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 465 | 522 | 573 | 498 | 2.3% |
| United States | 239 | 154 | 185 | 239 | 0.0% |
| Vietnam | 59.9 | 94.1 | 91.0 | 109 | 22.1% |
| Turkey | 57.9 | 40.7 | 50.8 | 68.2 | 5.6% |
| Germany | 13.2 | 27.7 | 53.7 | 46.2 | 51.8% |
| France | 35.9 | 14.0 | 28.8 | 29.0 | -6.9% |
| Italy | 12.5 | 23.9 | 19.7 | 22.2 | 21.1% |
| Taiwan (Chinese) | 30.3 | 27.8 | 11.4 | 20.2 | -12.6% |
| United Kingdom | 10.0 | 7.9 | 13.8 | 17.2 | 19.8% |
| United Arab Emirates | 7.8 | 8.3 | 10.2 | 11.6 | 14.1% |
| India | 22.6 | 13.3 | 14.1 | 10.0 | -23.8% |
| Malaysia | 7.5 | 5.7 | 5.4 | 7.9 | 1.7% |
| Czech Republic | 20.1 | 8.2 | 12.3 | 6.5 | -31.4% |
| Others | 108 | 113 | 112 | 100 | -2.5% |
| Total | 1,089 | 1,061 | 1,181 | 1,185 | 2.9% |
Top Export Markets for Compression-Ignition Internal Combustion Piston Engines (Diesel or Semi-Diesel Engines) from South Korea in 2022:
- United States (40.0K units)
- China (24.4K units)
- Vietnam (18.6K units)
- Turkey (10.1K units)
- Germany (7.0K units)
- France (4.4K units)
- Italy (3.3K units)
- Czech Republic (2.9K units)
- India (2.6K units)
- Taiwan (Chinese) (2.5K units)
- United Kingdom (2.4K units)
- Malaysia (2.3K units)
- United Arab Emirates (2.2K units)
Imports of Compression-Ignition Internal Combustion Piston Engines (Diesel or Semi-Diesel Engines) in South Korea
In 2022, approx. 77K units of compression-ignition internal combustion piston engines (diesel or semi-diesel engines) were imported into South Korea; with an increase of 3% on 2021 figures. Overall, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 10%. Imports peaked at 77K units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.
In value terms, imports of compression-ignition internal combustion piston engines (diesel or semi-diesel engines) expanded markedly to $785M in 2022. The total import value increased at an average annual rate of +3.3% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 40%. Over the period under review, imports of hit record highs in 2022 and are likely to see gradual growth in the near future.
| Import of Compression-Ignition Internal Combustion Piston Engines (Diesel or Semi-Diesel Engines) in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 130 | 94.2 | 136 | 150 | 4.9% |
| Italy | 20.1 | 26.6 | 54.6 | 128 | 85.4% |
| United Kingdom | 116 | 66.9 | 82.1 | 118 | 0.6% |
| Japan | 136 | 122 | 138 | 117 | -4.9% |
| China | 48.9 | 32.0 | 78.2 | 84.6 | 20.0% |
| Sweden | 79.8 | 91.9 | 106 | 75.9 | -1.7% |
| France | 67.1 | 25.9 | 52.8 | 44.1 | -13.1% |
| India | 19.5 | 17.8 | 30.1 | 31.8 | 17.7% |
| United States | 48.2 | 28.5 | 38.8 | 22.0 | -23.0% |
| Others | 46.8 | 13.1 | 11.6 | 14.4 | -32.5% |
| Total | 712 | 519 | 728 | 785 | 3.3% |
Top Suppliers of Compression-Ignition Internal Combustion Piston Engines (Diesel or Semi-Diesel Engines) to South Korea in 2022:
- China (14.7K units)
- Japan (12.4K units)
- Italy (11.5K units)
- Germany (9.0K units)
- France (8.8K units)
- United Kingdom (7.2K units)
- Sweden (5.7K units)
- India (3.6K units)
- United States (2.0K units)
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