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South Korea Electric Car Market Size, Analysis, Forecast: By Propulsion Technology: Battery Electric Car, Fuel Cell Electric Car, Plug-in Hybrid Electric Car, Others; By Drive Type: Front Wheel Drive, Rear Wheel Drive, All Wheel Drive; By Top Speed; By Vehicle Class; By Vehicle Type; Market Dynamics; Competitive Landscape; 2024-2032
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Industry Opportunities and Challenges
8 South Korea Electric Car Market Analysis
8.1 Key Industry Highlights
8.2 South Korea Electric Car Historical Market (2018-2023)
8.3 South Korea Electric Car Market Forecast (2024-2032)
8.4 South Korea Electric Car Market by Propulsion Technology
8.4.1 Battery Electric Car
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2023)
8.4.1.3 Forecast Trend (2024-2032)
8.4.2 Fuel Cell Electric Car
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2023)
8.4.2.3 Forecast Trend (2024-2032)
8.4.3 Plug-in Hybrid Electric Car
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2023)
8.4.3.3 Forecast Trend (2024-2032)
8.4.4 Others
8.5 South Korea Electric Car Market by Drive Type
8.5.1 Front Wheel Drive
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2023)
8.5.1.3 Forecast Trend (2024-2032)
8.5.2 Rear Wheel Drive
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2023)
8.5.2.3 Forecast Trend (2024-2032)
8.5.3 All Wheel Drive
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2023)
8.5.3.3 Forecast Trend (2024-2032)
8.6 South Korea Electric Car Market by Top Speed
8.6.1 <= 150 MPH
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2023)
8.6.1.3 Forecast Trend (2024-2032)
8.6.2 > 150 MPH
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2023)
8.6.2.3 Forecast Trend (2024-2032)
8.7 South Korea Electric Car Market by Vehicle Class
8.7.1 Mid-priced
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2018-2023)
8.7.1.3 Forecast Trend (2024-2032)
8.7.2 Luxury
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2018-2023)
8.7.2.3 Forecast Trend (2024-2032)
8.8 South Korea Electric Car Market by Vehicle Type
8.8.1 Hatchback
8.8.1.1 Market Share
8.8.1.2 Historical Trend (2018-2023)
8.8.1.3 Forecast Trend (2024-2032)
8.8.2 Sedan
8.8.2.1 Market Share
8.8.2.2 Historical Trend (2018-2023)
8.8.2.3 Forecast Trend (2024-2032)
8.8.3 SUV
8.8.3.1 Market Share
8.8.3.2 Historical Trend (2018-2023)
8.8.3.3 Forecast Trend (2024-2032)
8.8.4 Others
9 Market Dynamics
9.1 SWOT Analysis
9.1.1 Strengths
9.1.2 Weaknesses
9.1.3 Opportunities
9.1.4 Threats
9.2 Porter’s Five Forces Analysis
9.2.1 Supplier’s Power
9.2.2 Buyer’s Power
9.2.3 Threat of New Entrants
9.2.4 Degree of Rivalry
9.2.5 Threat of Substitutes
9.3 Key Indicators for Demand
9.4 Key Indicators for Price
10 Competitive Landscape
10.1 Market Structure
10.2 Company Profiles
10.2.1 Hyundai Motor Company
10.2.1.1 Company Overview
10.2.1.2 Product Portfolio
10.2.1.3 Demographic Reach and Achievements
10.2.1.4 Certifications
10.2.2 Honda Motor Co., Ltd.
10.2.2.1 Company Overview
10.2.2.2 Product Portfolio
10.2.2.3 Demographic Reach and Achievements
10.2.2.4 Certifications
10.2.3 Nissan Motor Co., Ltd.
10.2.3.1 Company Overview
10.2.3.2 Product Portfolio
10.2.3.3 Demographic Reach and Achievements
10.2.3.4 Certifications
10.2.4 Kia Corporation
10.2.4.1 Company Overview
10.2.4.2 Product Portfolio
10.2.4.3 Demographic Reach and Achievements
10.2.4.4 Certifications
10.2.5 Tesla, Inc.
10.2.5.1 Company Overview
10.2.5.2 Product Portfolio
10.2.5.3 Demographic Reach and Achievements
10.2.5.4 Certifications
10.2.6 BMW AG
10.2.6.1 Company Overview
10.2.6.2 Product Portfolio
10.2.6.3 Demographic Reach and Achievements
10.2.6.4 Certifications
10.2.7 Mercedes-Benz AG.
10.2.7.1 Company Overview
10.2.7.2 Product Portfolio
10.2.7.3 Demographic Reach and Achievements
10.2.7.4 Certifications
10.2.8 Others
11 Key Trends and Developments in the Market
List of Key Figures and Tables
1. South Korea Electric Car Market: Key Industry Highlights, 2018 and 2032
2. South Korea Electric Car Historical Market: Breakup by Propulsion Technology (USD Million), 2018-2023
3. South Korea Electric Car Market Forecast: Breakup by Propulsion Technology (USD Million), 2024-2032
4. South Korea Electric Car Historical Market: Breakup by Drive Type (USD Million), 2018-2023
5. South Korea Electric Car Market Forecast: Breakup by Drive Type (USD Million), 2024-2032
6. South Korea Electric Car Historical Market: Breakup by Top Speed (USD Million), 2018-2023
7. South Korea Electric Car Market Forecast: Breakup by Top Speed (USD Million), 2024-2032
8. South Korea Electric Car Historical Market: Breakup by Vehicle Class (USD Million), 2018-2023
9. South Korea Electric Car Market Forecast: Breakup by Vehicle Class (USD Million), 2024-2032
10. South Korea Electric Car Historical Market: Breakup by Vehicle Type (USD Million), 2018-2023
11. South Korea Electric Car Market Forecast: Breakup by Vehicle Type (USD Million), 2024-2032
12. South Korea Electric Car Market Structure
Key Questions Answered in the Report
The South Korea electric car market value is projected to grow at a CAGR of 33.8% between 2024 and 2032.
The major drivers are increasing spending power, increasing demand for electric SUVs, and consumer awareness regarding environmental concerns.
Key trends aiding market expansion include the government norms, celebrity collaborations, subsidies and rapid technological advancements.
The different types of electric cars in the market are SUVs, hatchback, and sedan, among others.
Hyundai is the largest automobile manufacturer in South Korea.
The major percentage of market share is held by Hyundai and Kia.
Based on propulsion technology, the market is divided into battery electric car, fuel cell electric car, and plug-in hybrid electric car, among others.
Key players in the market are Hyundai Motor Company, Honda Motor Co., Ltd., Nissan Motor Co., Ltd., Kia Corporation, Tesla, Inc., BMW AG, Mercedes-Benz AG., among others.
Analyst Review
The South Korea electric car market is driven by Increased consumer awareness regarding environment. Aided by the growing technological advancements, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 33.8%.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro components of the industry. On the basis of propulsion technology, the market can be segmented into Battery Electric Car, Fuel Cell Electric Car, and Plug-in Hybrid Electric Car, among others. Based on drive type, the electric car industry can be segmented into front wheel drive, rear wheel drive, and all-wheel drive, among others. Based on top speed, >150 mph segment is leading the market. The key players in the above market include Hyundai Motor Company, Honda Motor Co., Ltd., Nissan Motor Co., Ltd., Kia Corporation, Tesla, Inc., BMW AG, Mercedes-Benz AG., among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly skilled and accomplished team, thus, providing their customers with market insights that are accurate, detailed, actionable, and help them stay ahead of their competition.
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