The market is dominated by domestic suppliers, as imports account for 30.7% of total market size in 2022. B2B drives market demand, with B2B spending representing 82.0% of total demand in 2022. South Korea has the third largest market size for electric motors, generators and transformers regionally, with demand reaching USD20.4 billion in 2022. Doosan Heavy Industries & Construction Co Ltd is the largest company in South Korea, generating 11.1% of the industry’s total production value in 2022. The industry is fragmented, with the top five companies generating 14.4% of total production value in 2022. The total number of companies increases in 2022, to 6,987 units. The costs of the industry decrease by 11.6% in 2022, largely driven by declining B2B costs. The industry’s profitability increases and stands at 14.6% of production value in 2022, the highest regionally. The industry’s exports share increases in 2022 to 32.0% of total production output. With production value of USD19.7 billion, South Korea accounts for 6.6% of the Asia Pacific total in 2022.
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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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