The market is dominated by domestic suppliers, as imports account for 18.2% of total market size in 2022. B2B drives market demand, with B2B spending representing 53.4% of total demand in 2022. South Korea has the third largest market size for motor vehicles and parts regionally, with demand reaching USD123 billion in 2022. Hyundai Motor Co Ltd is the largest company in South Korea, generating 27.4% of the industry’s total production value in 2022. The industry is concentrated, with the top five companies generating 69.0% of total production value in 2022. The total number of companies increases in 2022, to 12,904 units. The costs of the industry decrease by 4% in 2022, largely driven by declining B2B costs. The industry’s profitability increases and stands at 10.1% of production value in 2022, the 12th highest regionally. The industry’s exports share increases in 2022 to 42.8% of total production output. With production value of USD160 billion, South Korea accounts for 7.7% of the Asia Pacific total in 2022.
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This Euromonitor industrial report provides unique information on Motor Vehicles and Parts in South Korea: ISIC 34. With this industrial report, you’ll be able to explore the industry from its sources of supply to its buyers. The Motor Vehicles and Parts in South Korea: ISIC 34 report includes: Industry datagraphics including production data, exports, imports, cost structure, and profitability
This is the aggregation of aircraft and spacecraft, motors vehicles, trailers and semi-trailers, motocycles, bicycles and other transport equipment, railway and tramway locomotives and rolling stock, and ships and boats.
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