The market is dominated by domestic suppliers, as imports account for 24.3% of total market size in 2023. Investments drive market demand, with investments representing 51.5% of total demand in 2023. South Korea has the fourth largest market size for lifting and handling equipment regionally, with demand reaching USD7.7 billion in 2023. Hyundai Elevator Co Ltd is the largest company in South Korea, generating 18.0% of the industry’s total production value in 2023. The industry is fragmented, with the top five companies generating 37.8% of total production value in 2023. The total number of companies decreases in 2023, to 3,406 units. The costs of the industry increase by 2.2% in 2023, largely driven by rising B2B costs. The industry’s profitability decreases and stands at 3.7% of production value in 2023, the 19th highest regionally. The industry’s exports share decreases in 2023 to 32.1% of total production output. With production value of USD8.4 billion, South Korea accounts for 6.9% of the Asia Pacific total in 2023.
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This Euromonitor industrial report provides unique information on Lifting and Handling Equipment in South Korea: ISIC 2915. With this industrial report, you’ll be able to explore the industry from its sources of supply to its buyers. The Lifting and Handling Equipment in South Korea: ISIC 2915 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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