Nikkei 2023 Major Product and Service Market Share Survey
4th Overall After US, China, and Japan
Samsung Electronics Ranks 1st in All 4 Categories
According to a report by Nihon Keizai Shimbun (Nikkei) on the 10th, Korean companies ranked first in market share in four sectors of major global industries' goods and services last year. Korea ranks fourth overall, following the United States, China, and Japan.
According to Nikkei's "2023 Major Goods and Services Market Share Survey," Korean companies topped the world in 4 out of 71 fields: DRAM semiconductors, OLED panels, NAND flash semiconductors, and ultra-thin TVs. Samsung Electronics maintained its number one position in all four sectors for 2022 as well.
Previously, Korea ranked third overall in the 2022 survey by securing first place in six sectors. However, last year Samsung Electronics and HD Hyundai Heavy Industries lost their number one positions in smartphones and shipbuilding to Apple and China State Shipbuilding Corporation (CSSC), respectively, dropping Korea to fourth place overall.
The country with the most number one titles was the United States, leading in 26 items. Notably, it ranked first in highly market-focused industries such as electric vehicles (Tesla), smartphones and tablet PCs (Apple), and generative artificial intelligence (OpenAI). In the global electric vehicle sales race, China's BYD recorded a 14.7% market share last year, trailing Tesla's 18.3%, but the gap is rapidly narrowing.
China and Japan followed the U.S., leading in 17 and 10 items respectively. In China, companies topped the market in essential electric vehicle components such as automotive lithium-ion batteries (CATL), telecommunications infrastructure (Huawei), and home appliances like refrigerators and washing machines (Haier). Notably, all five of the top solar panel companies (with a combined market share of 59.3%) were Chinese firms, and four companies ranked high in the wind turbine sector, demonstrating strength in the renewable energy field.
Japan, which was tied with Korea for third place with six number one sectors in the 2022 survey, increased its number one sectors by four last year to take sole third place. Especially among the five newly surveyed semiconductor materials, Japan secured the top market share in three items including photoresist. Additionally, Japanese companies also held the top position in automobiles (Toyota Motor Corporation) and CMOS image sensors (Sony).
Nikkei noted, "Chinese companies' dominance of supply chains is expanding into renewable energy sectors such as solar panels and wind turbines, and China's presence in the electric vehicle sector is significant," adding, "The U.S. and Europe have recently strengthened their vigilance against China through high tariffs."
Yasuji Ninomiya, director of the Institute of Energy Economics, Japan (IEEJ), stated, "It is undeniable that China's low-cost supply chain supports the global spread of renewable energy," and assessed, "Even if China's renewable energy market share is due solely to low costs, it is expected to maintain its current level."
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