South Korea electric car market is forecast to show an exponential growth rate in a couple of years. Supportive government regulations is one of the major factors driving the growth of the market in the country. The government has an aim to reach 200,000 electric vehicles by the end of 2020. During 2012-2019, around, 113,000 electric vehicles were added to the country’s fleet and a projected nearly 95,000 vehicle has to be added in 2020. It will include 65,000 regular EV, 11,000 two-wheelers, 7,500 electric trucks, and 650 electric buses. For this, around $946.5 million has been allocated as subsidies for EV and charging infrastructure. The country also has the aim to sell 33% electric and hydrogen-based vehicles of all vehicles by 2030.
Get Free Sample link @ https://www.omrglobal.com/request-sample/south-korea-electric-car-market
South Korea electric car market is segmented on the basis of vehicle type, propulsion technology, and battery type. On the basis of vehicle type, the market is segmented into hatchback, sedan, and SUV. Hyundai Kona Electric, Kia Niro EV, Chevrolet Bolt EV, Renault Samsung Twizy, Hyundai IONIQ Electric are some of the major vehicles sold in the country. Tesla modes have been introduced in the country, however, due to some hurdles Model S and X are not available with the government subsidy. By propulsion technology, the market is segmented into battery-electric cars, plug-in hybrid electric cars, and fuel cell electric cars. Battery-electric cars are expected to show considerable growth in the country. By battery type, the market is further sub-segmented into NiMH, Li-Ion, and others. Li-ion batteries vehicle is expected to cover a major market share in the upcoming period.
full report of South Korea Electric Car Market available @ https://www.omrglobal.com/industry-reports/south-korea-electric-car-market
- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
South Korea Electric Car Market Report Segment
By Vehicle Type
- Hatchback
- Sedan
- SUV
By Propulsion Technology
- Battery Electric Cars
- Plug-in Hybrid Electric Car
By Battery Type
- NiMH
- Li-Ion
- Others
The Report Covers
- Comprehensive research methodology of the South Korea Electric Car Market.
- This report also includes a detailed and extensive market overview with key analyst insights.
- An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the South Korea Electric Car Market.
- Insights about market determinants which are stimulating the South Korea Electric Car Market.
- Detailed and extensive market segments with regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.
For More Customized Data, Request for Report Customization @ https://www.omrglobal.com/report-customization/south-korea-electric-car-market
About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services. The company also offer Digital Marketing services through its subsidiary OMR Digital and Software development and Consulting Services through another subsidiary Encanto Technologies.
Media Contact:
Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Email: info@omrglobal.com
Contact no: +91 780-304-0404
