Auto Suppliers in South Korea

This dossier presents statistics about automotive suppliers in South Korea. It provides an overview of the South Korean auto parts industry as well as information on sales figures, key players in the industry, and its subsectors including the tire sector and infotainment sector.

Table of ContentsOverviewSales figuresKey playersTire sectorInfotainment sector

1. Overview

Auto Suppliers in South Korea

Description: In 2021, there were a total of 732 auto parts manufacturers in South Korea. That year, Hyundai and Kia had the most number of suppliers from which they received auto parts.

Auto Suppliers in South Korea

Description: In 2021, Hyundai and Kia had the most number of suppliers from which they received auto parts. In this statistic, vendors for multiple companies are included in the figures, and the actual number of automobile suppliers in South Korea amounted to 732 companies.

Auto Suppliers in South Korea

Description: In 2021, the import value of auto parts in South Korea amounted to around 6.24 billion U.S. dollars. This was an increase from the previous year, and the highest value recorded during the surveyed period.

Auto Suppliers in South Korea

Description: In 2021, the export value of auto parts in South Korea amounted to around 22.8 billion U.S. dollars. Overall, parts exports have recovered from the decrease recorded in 2020.

Auto Suppliers in South Korea

Description: In 2018, the total amount of foreign investment in the auto parts industry in South Korea stood at around 718 million U.S. dollars. Despite the slow growth of the automotive industry globally, foreign investment into Korean automobile industry has been continuously made.

2. Sales figures

Auto Suppliers in South Korea

Description: In 2021, the South Korean auto parts industry had a sales value of around 118.7 billion U.S. dollars, showing an increase compared to the previous year. Original equipment manufacturer (OEM) sales made up the largest portion of the total sales value of over 66 percent. Other than OEM sales, exports and aftermarket spare parts accounted for the rest. The primary export destinations were the United States, China, Mexico, and others where there are finished car production plants. Overall, auto part exports have suffered recently due to sluggish demand and the ongoing U.S.-China trade war.

Auto Suppliers in South Korea

Description: In 2021, the OEM sales of auto parts manufacturers in South Korea amounted to around 48.27 billion U.S. dollars. That year, the South Korean auto parts industry had a sales value of 118.7 billion U.S. dollars in total.

Auto Suppliers in South Korea

Description: In 2021, the aftermarket sales of auto parts manufacturers in South Korea amounted to around 3.38 billion U.S. dollars. That year, the South Korean auto parts industry had a sales value of 118.7 billion U.S. dollars in total.

3. Key players

Auto Suppliers in South Korea

Description: Hyundai Mobis and eight other South Korean auto parts manufacturers were ranked in the top 100 automobile parts suppliers in the world, by sales value. Hyundai Mobis was in 7th place, the highest ranking of all the Korean companies, and made over 25 billion U.S. dollars in sales in 2021. Three of the others are also members of the Hyundai Motor Group conglomerate.

Auto Suppliers in South Korea

Description: In 2021, Hyundai Mobis’ consolidated sales revenue amounted to approximately 41.7 trillion South Korean won. Hyundai Mobis was ranked as the 10th largest company in South Korea as of 2021 according to the 2021 Fortune Global 500.

Auto Suppliers in South Korea

Description: In 2021, Hyundai Wia recorded consolidated revenue that amounted to approximately 7.53 trillion South Korean won, up from around 6.59 trillion won in the previous year. Hyundai Wia was an automotive supplier company that produced parts such as engines, chassis modules, and various other car parts. According to the source, Hyundai Wia had factories in South Korea, China, and Mexico.

Auto Suppliers in South Korea

Description: In 2021, Hyundai Transys recorded revenue of approximately 8.14 trillion South Korean won, increased from around 7.25 trillion won in the previous year. The name of the company changed from Hyundai Dymos to Hyundai Transys after merging with Hyundai Powertech in 2019. Hyundai Transys was an automotive supplier that specialized in the manufacturing of car seats and powertrains. According to the source, the company’s scale of operations reached out all over the globe, with 17 factories in foreign countries.

Auto Suppliers in South Korea

Description: In 2021, Mando Corporation recorded revenue of approximately 6.15 trillion South Korean won, up from around 5.56 trillion won in the previous year. Mando Corporation was an automotive supplier that split off from Halla Holdings Corporation in 2014. According to the source, some of the products manufactured by Mando Corporation were various brake systems and driver assistance systems.

Auto Suppliers in South Korea

Description: In 2021, Hanon Systems recorded revenue of approximately 7.35 trillion South Korean won, up from around 6.87 trillion won in the previous year. Hanon Systems was an automotive supplier that focused on the manufacturing car parts related to the thermal management of a car. According to the source, the company had 48 subsidiary companies located around the globe.

4. Tire sector

Auto Suppliers in South Korea

Description: The value of tires exported from South Korea in 2021 reached over two billion U.S. dollars. Following the overseas car manufacturing plants of Hyundai or Kia, Korean tire companies began to expand their overseas tire plants to meet the global demand.

Auto Suppliers in South Korea

Description: The value of tires imported into South Korea in 2021 reached 724 million U.S. dollars. The automobile tire imports in the country have steadily increased. The main reasons behind this were the growing imported foreign car market and the increasing demand for affordable tires from China and Southeastern Asian countries.

Auto Suppliers in South Korea

Description: Kumho Tire took up the largest share of the total tire sales in South Korea as of October 2022, with around 47.3 percent. It was followed by Nexen Tire with a little under 26 percent. Foreign tire manufacturers such as Michelin, Continental, Bridgestone, and Pirelli were also featured on the list of leading tire companies in the country.

Auto Suppliers in South Korea

Description: Kumho Tire had a sales revenue of around 2.6 trillion South Korean won in 2021. Kumho Tire was one of the subsidiaries of Kumho Asiana Group and then it was acquired by Chinese tire maker Doublestar in 2018. It is one of the leading tire makers in South Korea including Hankook Tire and Nexen Tire.

Auto Suppliers in South Korea

Description: Hankook Tire had a sales revenue of around 7.14 trillion South Korean won in 2021, showing an increase compared to the previous year. Hankook Tire is one of the leading tire makers in South Korea including Nexen Tire and Kumho Tire.

Auto Suppliers in South Korea

Description: Nexen Tire had a sales revenue of around 2.08 trillion South Korean won in 2021, up from 1.7 trillion won in the previous year. Nexen Tire is one of the leading tire makers in South Korea including Hankook Tire and Kumho Tire, and the first company that introduced tire rental services in the country.

5. Infotainment sector

Auto Suppliers in South Korea

Description: In 2021, the global market share of LG Display’s display panels for televisions and information technology equipment amounted to about 19.9 percent. This was LG’s lowest market share recorded during the surveyed period.

Auto Suppliers in South Korea

Description: In 2021, the operating loss of LG Electronics’ Vehicle component Solutions (VS) sector amounted to almost 933 billion South Korean won. However, the revenue from LG Electronics’ vehicle sector has increased significantly every year to around 7.2 trillion South Korean won in 2021. The VS sector in LG Electronics is in charge of automotive electronics including infotainment, vehicle software, autonomous driving technology, and motor business.

Auto Suppliers in South Korea

Description: It was estimated that LG Electronics would account for around 11 percent of the global automotive audiovisual (AV) or audiovisual navigator (AVN) market in 2021. Due to the growing demand of autonomous driving technology and IoT connectivity in the automotive industry, the automotive AV/AVN market is expected to continue growing. Revenue from LG Electronics’ vehicle component sector has increased significantly every year to around 7.2 trillion South Korean won in 2021.

Auto Suppliers in South Korea

Description: It was estimated that LG Electronics would account for around 24.2 percent of the global automotive telematics market in 2021. Due to the growing demand of autonomous driving technology and IoT connectivity in the automotive industry, the automotive telematics market is expected to continue growing. The revenue from LG Electronics’ vehicle component sector has increased significantly every year to around 7.2 trillion South Korean won in 2021.

Auto Suppliers in South Korea

Description: In 2021, Thinkware Corporation recorded revenue of approximately 225.39 billion South Korean won, increased from around 197.57 billion won in the previous year. Thinkware was an automotive supplier company that focused on dash cams and mapping. Thinkware Corporation had operations that spanned worldwide, with subsidiary companys in the United States, China, Canada, and Japan as well as South Korea.

Auto Suppliers in South Korea

Description: In 2021, Thinkware Corporation recorded a dashcam sector revenue of approximately 158.61 billion South Korean won, followed by car accessories and after sales with around 47 billion won. Thinkware was an automotive supplier company that focused on dash cams and mapping. Thinkware Corporation had operations that spanned worldwide, with subsidiary companies in the United States, China, Canada, and Japan as well as South Korea.

Auto Suppliers in South Korea

Source fromStatista

TheinformationsetforthaboveisprovidedbyStatistaindependently of Alibaba.com. Alibaba.com makes no representation and warranties as to the quality and reliability of the seller and products.

End
 
Comment(没有评论)