The market is dominated by domestic suppliers, as imports account for 40.2% of total market size in 2023. B2B drives market demand, with B2B spending representing 85.8% of total demand in 2023. South Korea has the fourth largest market size for pumps, compressors, taps and valves regionally, with demand reaching USD17.5 billion in 2023. Wilo Pumps Ltd is the largest company in South Korea, generating 1.5% of the industry’s total production value in 2023. The industry is fragmented, with the top four companies generating 4.1% of total production value in 2023. The total number of companies increases in 2023, to 8,324 units. The costs of the industry increase by 3.5% in 2023, largely driven by rising B2B costs. The industry’s profitability decreases and stands at 10.2% of production value in 2023, the 14th highest regionally. The industry’s exports share decreases in 2023 to 41.0% of total production output. With production value of USD16.6 billion, South Korea accounts for 6.2% of the Asia Pacific total in 2023.
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This Euromonitor industrial report provides unique information on Pumps, Compressors, Taps and Valves in South Korea: ISIC 2912. With this industrial report, you’ll be able to explore the industry from its sources of supply to its buyers. The Pumps, Compressors, Taps and Valves in South Korea: ISIC 2912 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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