The market is dominated by domestic suppliers, as imports account for 19.3% of total market size in 2023. B2B drives market demand, with B2B spending representing 89.4% of total demand in 2023. South Korea has the third largest market size for electrical equipment for engines and vehicles regionally, with demand reaching USD20.1 billion in 2023. Kyungshin Corp is the largest company in South Korea, generating 13.7% of the industry’s total production value in 2023. The industry is fragmented, with the top five companies generating 42.1% of total production value in 2023. The total number of companies increases in 2023, to 3,922 units. The costs of the industry increase by 1.5% in 2023, largely driven by rising B2B costs. The industry’s profitability decreases and stands at 6.5% of production value in 2023, the 14th highest regionally. The industry’s exports share decreases in 2023 to 12.8% of total production output. With production value of USD15.6 billion, South Korea accounts for 5.0% of the Asia Pacific total in 2023.
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This Euromonitor industrial report provides unique information on Electrical Equipment for Engines and Vehicles in South Korea: ISIC 319. With this industrial report, you’ll be able to explore the industry from its sources of supply to its buyers. The Electrical Equipment for Engines and Vehicles in South Korea: ISIC 319 report includes: Industry datagraphics including production data, exports, imports, cost structure, and profitability
This is the aggregation of electricity generation, distribution and storage equipment, computers, office machinery and communications equipment, and medical and precision equipment.
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