South Korea seizes Taiwan's market share in printing machine tools

by:Gewinn     2022-04-20
Due to the depreciation of the Korean won and the export of Korean machine tools to the Indian market under the India-Korea CEPA tariff concession agreement, the competitiveness of Taiwanese machine tools in India has been greatly affected. According to statistics from the Korea Machine Tool Manufacturers Association (KOM鄄MA), the export of machine tools in 2012 was 2.55 billion US dollars, a year-on-year increase of 10.6%. The export of Korean machine tools mainly relies on the three major markets of Asia, Europe and North America, and China, the United States and India are the top three export markets. Taiwan's machine tool exports were US$4.2 billion. China, the United States and Thailand were the top three export markets. India fell from sixth in 2011 to seventh. With the reduction of tariffs under CEPA from Korea and India and the large investment in India by the Korean automobile industry, the export of Korean machine tools to the Indian market has grown significantly. In 2012, India imported 2.32 billion US dollars of machine tools, including 260 million US dollars from South Korea, an increase of more than 70% year-on-year; 130 million US dollars from Taiwan, a decrease of 3.6%. South Korea's share of India's import market rose from 6.8% to 11.3%, Taiwan's share fell from 6.3% to 5.7%, South Korea rose from sixth to fifth, and Taiwan fell from fifth to sixth. The machine tool products exported from South Korea and Taiwan to India are mainly machining centers, CNC lathes and machine tools. More than 80% of Korean machine tool products are concentrated in these three types of products, while about 70% of Taiwanese machine tools are concentrated in these three types of products. Taiwan's export of processing centers to India is US$32.91 million, still ahead of Korean products. This is because Chinese Taiwanese products still have advantages, and Indian manufacturers still take cost-effectiveness as the most important consideration when purchasing Taiwanese products. The export of CNC lathes from South Korea has been significantly ahead of Taiwanese products. This is mainly because Korean CNC lathes are mostly used in the automotive industry, while Taiwanese products lack the application experience in this area. The Indian automotive industry will still give priority to Korean products. In terms of forming machine tools, South Korea exported 130 million US dollars to India, which has been significantly ahead of Taiwan's exports. This is because the entire line of Indian auto sheet metal parts and components adopts machine tools, and the Korean auto industry invests heavily in India. Korean auto factories will definitely give priority to Considering the use of Korean products, Taiwanese machine tools are relatively inferior to Korea in the Indian market.
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