Speed Changer Price in South Korea - 2022
Contents:
- Speed Changer Price in South Korea (CIF) - 2022
- Speed Changer Price in South Korea (FOB) - 2022
- Speed Changer Imports in South Korea
- Speed Changer Exports in South Korea
Speed Changer Price in South Korea (CIF) - 2022
The average speed changer import price stood at $14,239 per ton in December 2022, rising by 16% against the previous month. Over the period from December 2021 to December 2022, it increased at an average monthly rate of +1.1%. The pace of growth appeared the most rapid in August 2022 an increase of 19% against the previous month. Over the period under review, average import prices attained the maximum in December 2022.
There were significant differences in the average prices amongst the major supplying countries. In December 2022, the country with the highest price was the United States ($74,104 per ton), while the price for Thailand ($4,972 per ton) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by China (+1.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Speed Changer Price in South Korea (FOB) - 2022
The average speed changer export price stood at $5,915 per ton in December 2022, dropping by -15% against the previous month. Overall, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in November 2022 when the average export price increased by 19% against the previous month. As a result, the export price reached the peak level of $6,961 per ton, and then reduced sharply in the following month.
There were significant differences in the average prices for the major external markets. In December 2022, the country with the highest price was India ($9,531 per ton), while the average price for exports to Thailand ($3,667 per ton) 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 (+1.6%), while the prices for the other major destinations experienced more modest paces of growth.
Speed Changer Imports in South Korea
In 2022, the amount of speed changers, industrial high-speed drives and gear imported into South Korea shrank to 49K tons, waning by -11.6% against the previous year's figure. The total import volume increased at an average annual rate of +1.6% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 32% against the previous year. As a result, imports attained the peak of 55K tons, and then fell in the following year.
In value terms, speed changer imports dropped to $596M in 2022. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by 24%. As a result, imports attained the peak of $661M, and then contracted in the following year.
| Import of Speed Changer in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 88.4 | 101 | 171 | 162 | 22.4% |
| Germany | 129 | 98.4 | 120 | 114 | -4.0% |
| Japan | 96.2 | 94.9 | 95.1 | 90.6 | -2.0% |
| Taiwan (Chinese) | 62.3 | 60.8 | 78.9 | 71.5 | 4.7% |
| Italy | 33.7 | 31.2 | 32.6 | 33.8 | 0.1% |
| United States | 44.0 | 38.4 | 42.4 | 32.6 | -9.5% |
| Slovakia | 13.3 | 15.1 | 24.4 | 23.6 | 21.1% |
| Romania | 32.4 | 7.3 | 4.3 | 1.2 | -66.7% |
| Others | 93.2 | 83.9 | 92.4 | 66.9 | -10.5% |
| Total | 592 | 531 | 661 | 596 | 0.2% |
Top Suppliers of Speed Changer to South Korea in 2022:
- China (28.9K tons)
- Germany (5.4K tons)
- Japan (4.0K tons)
- Taiwan (Chinese) (2.9K tons)
- Italy (2.3K tons)
- United States (1.3K tons)
- Slovakia (1.3K tons)
- Romania (0.4K tons)
Speed Changer Exports in South Korea
In 2022, approx. 100K tons of speed changers, industrial high-speed drives and gear were exported from South Korea; picking up by 2.8% compared with 2021 figures. The total export volume increased at an average annual rate of +2.5% over the period from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 18% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the near future.
In value terms, speed changer exports contracted to $593M in 2022. Over the period under review, exports, however, saw a slight shrinkage. The growth pace was the most rapid in 2021 with an increase of 7.9%.
| Export of Speed Changer in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 171 | 166 | 176 | 154 | -3.4% |
| United States | 137 | 124 | 128 | 106 | -8.2% |
| Japan | 96.8 | 76.6 | 79.3 | 97.5 | 0.2% |
| Mexico | 19.8 | 13.9 | 22.1 | 28.2 | 12.5% |
| Thailand | 18.5 | 13.6 | 20.7 | 19.5 | 1.8% |
| India | 21.5 | 14.8 | 15.7 | 18.5 | -4.9% |
| Canada | 14.5 | 15.0 | 12.5 | 17.2 | 5.9% |
| Germany | 33.4 | 33.8 | 30.1 | 16.8 | -20.5% |
| Brazil | 9.8 | 14.5 | 19.4 | 16.6 | 19.2% |
| Others | 103 | 98.9 | 113 | 119 | 4.9% |
| Total | 624 | 571 | 616 | 593 | -1.7% |
Top Export Markets for Speed Changer from South Korea in 2022:
- China (27.9K tons)
- Japan (19.4K tons)
- United States (18.3K tons)
- Brazil (4.7K tons)
- Mexico (4.5K tons)
- Thailand (4.1K tons)
- India (3.5K tons)
- Germany (2.7K tons)
- Canada (1.6K tons)
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