Aircraft Tyre Market in South Korea
Market Overview
The South Korean aircraft tyre market fell dramatically to $
in , dropping by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption showed a perceptible contraction. Over the period under review, the market hit record highs at $ in 2015; however, from 2016 to , consumption remained at a lower figure.
in , dropping by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption showed a perceptible contraction. Over the period under review, the market hit record highs at $ in 2015; however, from 2016 to , consumption remained at a lower figure.Consumption
In , approx. units of tyres for aircraft were consumed in South Korea; declining by -% on the previous year. Overall, consumption saw a abrupt setback. Over the period under review, consumption reached the peak volume at units in 2015; however, from 2016 to , consumption failed to regain momentum.
The size of the aircraft tyre market in South Korea contracted notably to $ in , with a decrease of -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption saw a pronounced decrease. Aircraft tyre consumption peaked at $ in 2015; however, from 2016 to , consumption stood at a somewhat lower figure.
, approx. units of tyres for aircraft were consumed in South Korea; declining by -% on the previous year. Overall, consumption saw a abrupt setback. Over the period under review, consumption reached the peak volume at units in 2015; however, from 2016 to , consumption failed to regain momentum.The size of the aircraft tyre market in South Korea contracted notably to $
in , with a decrease of -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption saw a pronounced decrease. Aircraft tyre consumption peaked at $ in 2015; however, from 2016 to , consumption stood at a somewhat lower figure.Market Forecast
Depressed by shrinking demand for aircraft tyre in South Korea, the market is expected to continue its downward consumption trend over the next eight-year period. The performance of the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to depress the market volume to units by the end of .
In value terms, the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .
% for the period from to , which is projected to depress the market volume to units by the end of .In value terms, the market is forecast to contract with an anticipated CAGR of -
% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .Market Structure
Aircraft tyre market in South Korea consists almost entirely of imported products. In recent years, import price have increased sharply. Despite the hike in price, South Korea relies completely on foreign supplies: the volume of domestic output remains insufficient to satiate market demand.
Trade Balance
South Korea remains a net importer of aircraft tyre; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of units, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
. In , there was a significant trade deficit of units, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
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