The market is dominated by domestic suppliers, as imports account for 18.6% of total market size in 2022. Investments drive market demand, with investments representing 70.0% of total demand in 2022. South Korea has the fourth largest market size for machinery for construction, mining and quarrying regionally, with demand reaching USD4.5 billion in 2022. Volvo Group Korea Co Ltd is the largest company in South Korea, generating 19.8% of the industry’s total production value in 2022. The industry is fragmented, with the top five companies generating 33.0% of total production value in 2022. The total number of companies increases in 2022, to 4,498 units. The costs of the industry decrease by 8.7% in 2022, largely driven by declining B2B costs. The industry’s profitability increases and stands at 16.0% of production value in 2022, the sixth highest regionally. The industry’s exports share increases in 2022 to 63.9% of total production output. With production value of USD9.6 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 Machinery for Construction, Mining and Quarrying in South Korea: ISIC 2924. With this industrial report, you’ll be able to explore the industry from its sources of supply to its buyers. The Machinery for Construction, Mining and Quarrying in South Korea: ISIC 2924 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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