The market is dominated by domestic suppliers, as imports account for 31.8% of total market size in 2020. Investments drive market demand, with investments representing 69.0% of total demand in 2020. South Korea has the fourth largest market size for machine tools in the region, with demand reaching USD9.6 billion in 2020. Hwacheon Machinery Co Ltd is the largest company in South Korea, generating 2.4% of the industry’s total production value in 2020. The industry is fragmented, with the top four companies generating 7.0% of total production value in 2020. The total number of companies increases in 2020, to 7,871 units. The costs of the industry decrease by 0.7% in 2020, largely driven by declining labour costs. The industry’s profitability increases and stands at 7.5% of production value in 2020, the 16th highest in the region. With production value of USD9.2 billion, South Korea accounts for 5.6% of the Asia Pacific total in 2020.
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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
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