Republic of Korea - Motorcycles, fitted with a motor, with reciprocating internal combustion piston engine of a cylinder capacity <= 50 cm³ - Market Analysis, Forecast, Size, Trends and Insights
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View PricingRepublic of Korea: Market for Motorcycles and Cycles With an Auxiliary Motor 2024
Market Size for Motorcycles and Cycles With an Auxiliary Motor in Republic of Korea
The South Korean market for motorcycles and cycles with an auxiliary motor expanded significantly to $X in 2023, picking up by X% against the previous year. Overall, consumption continues to indicate a notable increase. As a result, consumption attained the peak level of $X. From 2022 to 2023, the growth of the market failed to regain momentum.
Production of Motorcycles and Cycles With an Auxiliary Motor in Republic of Korea
In value terms, production of motorcycles and cycles with an auxiliary motor expanded notably to $X in 2023 estimated in export price. Overall, production saw a perceptible expansion. The most prominent rate of growth was recorded in 2021 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2022 to 2023, production of growth failed to regain momentum.
Exports of Motorcycles and Cycles With an Auxiliary Motor
Exports from Republic of Korea
In 2023, overseas shipments of motorcycles and cycles with an auxiliary motor increased by X% to X units for the first time since 2020, thus ending a two-year declining trend. In general, exports, however, faced a deep downturn. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2023, the exports remained at a lower figure.
In value terms, exports of motorcycles and cycles with an auxiliary motor skyrocketed to $X in 2023. Over the period under review, exports, however, continue to indicate a deep contraction. The pace of growth was the most pronounced in 2020 with an increase of X%. Over the period under review, the exports of hit record highs at $X in 2012; however, from 2013 to 2023, the exports remained at a lower figure.
Exports by Country
Nigeria (X units) was the main destination for exports of motorcycles and cycles with an auxiliary motor from South Korea, accounting for a X% share of total exports. Moreover, exports of motorcycles and cycles with an auxiliary motor to Nigeria exceeded the volume sent to the second major destination, North Macedonia (X units), twofold. The third position in this ranking was taken by Ghana (X units), with a X% share.
From 2012 to 2023, the average annual growth rate of volume to Nigeria totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: North Macedonia (X% per year) and Ghana (X% per year).
In value terms, Nigeria ($X) emerged as the key foreign market for motorcycles and cycles with an auxiliary motor exports from South Korea, comprising X% of total exports. The second position in the ranking was held by North Macedonia ($X), with an X% share of total exports. It was followed by Serbia, with a X% share.
From 2012 to 2023, the average annual growth rate of value to Nigeria was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: North Macedonia (X% per year) and Serbia (X% per year).
Export Prices by Country
The average export price for motorcycles and cycles with an auxiliary motor stood at $X per unit in 2023, growing by X% against the previous year. Over the period under review, export price indicated measured growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, export price for motorcycles and cycles with an auxiliary motor increased by X% against 2019 indices. The pace of growth was the most pronounced in 2021 an increase of X%. Over the period under review, the average export prices reached the peak figure in 2023 and is likely to see steady growth in the immediate term.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Nigeria ($X per unit), while the average price for exports to Tanzania ($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 the Philippines (X%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Motorcycles and Cycles With an Auxiliary Motor
Imports into Republic of Korea
In 2023, imports of motorcycles and cycles with an auxiliary motor into South Korea reduced dramatically to X units, with a decrease of X% on the previous year. Over the period under review, imports recorded a precipitous descent. The most prominent rate of growth was recorded in 2022 with an increase of X%. Imports peaked at X units in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.
In value terms, imports of motorcycles and cycles with an auxiliary motor contracted significantly to $X in 2023. In general, imports continue to indicate a significant decrease. The most prominent rate of growth was recorded in 2022 with an increase of X% against the previous year. Over the period under review, imports of reached the maximum at $X in 2012; however, from 2013 to 2023, imports remained at a lower figure.
Imports by Country
In 2023, China (X units) was the main motorcycles and cycles with an auxiliary motor supplier to South Korea, with a X% share of total imports. Moreover, imports of motorcycles and cycles with an auxiliary motor from China exceeded the figures recorded by the second-largest supplier, Japan (X units), more than tenfold.
From 2012 to 2023, the average annual growth rate of volume from China stood at X%.
In value terms, China ($X) constituted the largest supplier of motorcycles and cycles with an auxiliary motor to South Korea, comprising X% of total imports. The second position in the ranking was held by Japan ($X), with a X% share of total imports.
From 2012 to 2023, the average annual growth rate of value from China totaled X%.
Import Prices by Country
The average import price for motorcycles and cycles with an auxiliary motor stood at $X per unit in 2023, surging by X% against the previous year. In general, import price indicated a strong 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, import price for motorcycles and cycles with an auxiliary motor decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2015 when the average import price increased by X%. The import price peaked at $X per unit in 2018; however, from 2019 to 2023, import prices failed to regain momentum.
Average prices varied noticeably amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was China ($X per unit), while the price for Japan stood at $X per unit.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (X%), while the prices for the other major suppliers experienced more modest paces of growth.
Source: IndexBox Platform
This report provides an in-depth analysis of the market for motorcycles and cycles with an auxiliary motor 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 30911100 - Motorcycles, and cycles fitted with an auxiliary motor, with an engine capacity . .50 cm.
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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