The market is dominated by domestic suppliers, as imports account for 29.7% of total market size in 2023. B2B drives market demand, with B2B spending representing 82.8% of total demand in 2023. South Korea has the third largest market size for electric motors, generators and transformers regionally, with demand reaching USD20.8 billion in 2023. Doosan Heavy Industries & Construction Co Ltd is the largest company in South Korea, generating 10.8% of the industry’s total production value in 2023. The industry is fragmented, with the top five companies generating 14.0% of total production value in 2023. The total number of companies increases in 2023, to 6,998 units. The costs of the industry increase by 2% in 2023, largely driven by rising B2B costs. The industry’s profitability decreases and stands at 14.3% of production value in 2023, the fourth highest regionally. The industry’s exports share decreases in 2023 to 30.7% of total production output. With production value of USD20.0 billion, South Korea accounts for 6.7% of the Asia Pacific total in 2023.
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This Euromonitor industrial report provides unique information on Electric Motors, Generators and Transformers in South Korea: ISIC 311. With this industrial report, you’ll be able to explore the industry from its sources of supply to its buyers. The Electric Motors, Generators and Transformers in South Korea: ISIC 311 report includes: Industry datagraphics including production data, exports, imports, cost structure, and profitability
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