The market is dominated by domestic suppliers, as imports account for 15.0% of total market size in 2022. B2B drives market demand, with B2B spending representing 69.8% of total demand in 2022. South Korea has the fifth largest market size for tanks, reservoirs, boilers and radiators regionally, with demand reaching USD2.6 billion in 2022. Rinnai Korea Co Ltd is the largest company in South Korea, generating 4.4% of the industry’s total production value in 2022. The industry is fragmented, with the top five companies generating 12.3% of total production value in 2022. The total number of companies increases in 2022, to 1,321 units. The costs of the industry increase by 2.5% in 2022, largely driven by rising B2B costs. The industry’s profitability increases and stands at 9.9% of production value in 2022, the 11th highest regionally. The industry’s exports share increases in 2022 to 29.8% of total production output. With production value of USD2.9 billion, South Korea accounts for 4.0% of the Asia Pacific total in 2022.
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This Euromonitor industrial report provides unique information on Tanks, Reservoirs, Boilers and Radiators in South Korea: ISIC 2812. With this industrial report, you’ll be able to explore the industry from its sources of supply to its buyers. The Tanks, Reservoirs, Boilers and Radiators in South Korea: ISIC 2812 report includes: Industry datagraphics including production data, exports, imports, cost structure, and profitability
This is the aggregation of basic iron and steel, basic preciuos and non-ferrous metals, casting of metals, coating of metals and mechanical engineering, forming of metal and power metallurgy, metal packaking, wire and other fabricated metal products.
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