The market is dominated by domestic suppliers, as imports account for 12.2% of total market size in 2023. B2B drives market demand, with B2B spending representing 98.4% of total demand in 2023. South Korea has the second largest market size for accumulators, primary cells and primary batteries regionally, with demand reaching USD51.7 billion in 2023. LG Energy Solution Ltd is the largest company in South Korea, generating 18.5% of the industry’s total production value in 2023. The industry is fragmented, with the top five companies generating 24.7% of total production value in 2023. The total number of companies increases in 2023, to 415 units. The costs of the industry increase by 7.8% in 2023, largely driven by rising B2B costs. The industry’s profitability increases and stands at 14.1% of production value in 2023, the fourth highest regionally. The industry’s exports share decreases in 2023 to 24.0% of total production output. With production value of USD54.7 billion, South Korea accounts for 18.0% of the Asia Pacific total in 2023.
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This Euromonitor industrial report provides unique information on Accumulators, Primary Cells and Primary Batteries in South Korea: ISIC 314. With this industrial report, you’ll be able to explore the industry from its sources of supply to its buyers. The Accumulators, Primary Cells and Primary Batteries in South Korea: ISIC 314 report includes: Industry datagraphics including production data, exports, imports, cost structure, and profitability
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