The market is dominated by domestic suppliers, as imports account for 34.3% of total market size in 2022. Investments drive market demand, with investments representing 68.4% of total demand in 2022. South Korea has the fourth largest market size for machine tools regionally, with demand reaching USD9.1 billion in 2022. Hwacheon Machinery Co Ltd is the largest company in South Korea, generating 2.0% of the industry’s total production value in 2022. The industry is fragmented, with the top four companies generating 5.9% of total production value in 2022. The total number of companies increases in 2022, to 8,002 units. The costs of the industry decrease by 9.3% in 2022, largely driven by declining B2B costs. The industry’s profitability increases and stands at 9.5% of production value in 2022, the 16th highest regionally. The industry’s exports share increases in 2022 to 39.5% of total production output. With production value of USD9.1 billion, South Korea accounts for 4.5% of the Asia Pacific total in 2022.
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This Euromonitor industrial report provides unique information on Machine Tools in South Korea: ISIC 2922. With this industrial report, you’ll be able to explore the industry from its sources of supply to its buyers. The Machine Tools in South Korea: ISIC 2922 report includes: Industry datagraphics including production data, exports, imports, cost structure, and profitability
This is the aggregation of general purpose machinery and special purpose machinery.
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