South Korea Electric Scooter Market Introduction and Overview
According to SPER Market Research, the South Korea Electric Scooter Market is estimated to reach USD XX billion by 2033 with a CAGR of 25.9%.
The report includes an in-depth analysis of the South Korea Electric Scooter Market, including market size and trends, product mix, distribution channels, and supplier analysis. A two-wheeled vehicle with an electric motor is called an electric scooter. It is intended for use as personal transportation, providing a green and effective means of transportation. Electric scooters often have a lightweight, compact form that makes them ideal for short-distance and urban riding. They have rechargeable batteries inside that provide the electric motor in the scooter the power it needs to go forward.
- Market development in 2023-2033: driven by the Government Support and Regulations: Through a number of programmes and legislation, the South Korean government has been actively pushing the use of electric vehicles, including electric scooters. This involves fostering the development of charging infrastructure, offering subsidies and incentives for the purchase of electric vehicles, and putting policies in place to encourage and control the use of electric scooters.
- Environmental Concerns: As people and governments become more conscious of environmental concerns like air pollution and greenhouse gas emissions, they look for greener transportation options. Due to their zero emissions during operation, electric scooters are a sustainable and environmentally benign means of transportation.
Market Opportunities and Challenges
- Opportunities for South Korea Electric Scooter Market
- Government Support: Opportunities for expansion are presented by the South Korean government's strong support for electric cars, particularly electric scooters. Infrastructure improvements, tax breaks, and subsidies are all part of this effort to promote the use of electric scooters.
- Urbanization and Last-Mile Connectivity: Electric scooters have the potential to be effective last-mile mobility options in South Korean cities due to their dense population. Electric scooters can make the transition easier and less congested between public transport hubs and final destinations.
- One of the major challenges for South Korea Electric Scooter Market
- Infrastructure Development: Electric scooter adoption continues to be hindered by the accessibility and availability of charging infrastructure. To reduce range anxiety and encourage the use of electric scooters, it will be essential to expand the charging network throughout cities, parking lots, and public locations.
Market Competitive Landscape
Electric scooter sales in South Korea are very competitive, with both native and foreign companies competing for market dominance. The presence of well-known manufacturers like Gogoro, KYMCO, Yamaha, and NIU has been felt thanks to their cutting-edge technology, fashionable designs, and solid brand reputations. These businesses provide a variety of electric scooter models with options for changing batteries, having a long range, and having smart connection. Local start-ups have entered the market in addition to these well-established giants, using cutting-edge features and regionalized marketing approaches. The competitive environment is significantly shaped by elements including product performance, design, price, and charging infrastructure. The rivalry is anticipated to increase as the industry expands, driving more innovation and market growth.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Product, By Battery, By Voltage
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| Regions covered | Busan, Daegu, Gyeonggi Province, Incheon, Seoul, Other Metropolitan Areas
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| Companies Covered | IU Tech Co. Ltd., Nanowheel, Segway Inc., WEPED, Xiaomi Corporation |
COVID-19 Impact on South Korea Electric Scooter Market
There has been a rise in the use of personal mobility devices, which has raised demand for electric scooters as a form of socially isolated transportation. Government subsidies and incentives for electric cars have also helped. However, difficulties have arisen due to supply chain delays, decreased consumer expenditure, and a fall in travel and commuting. The long-term effects will rely on economic recovery, governmental actions, and consumer behaviour, but as things get better, the market is anticipated to pick up speed.
Key Target Audience
- Aftermarket Distributors and Retailers
- Automotive Industry Associations
- Automotive Interior Material Suppliers
- Automotive Manufacturers
- Design and Engineering Teams
- Investors and Financial Institutions
- Regulatory Authorities and Safety Organizations
- Research and Development Centres
Our in-depth analysis of the South Korea Electric Scooter Market includes the following segments:
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By Product:
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Folding
Retro
Standing/Self-Balancing
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By Battery:
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Li-Ion
NiMH
Sealed Lead Acid
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By Voltage:
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24V
36V
48V
Above 48V
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Key Topics Covered in the Report
- South Korea Electric Scooter Market Size (FY’2023-FY’2033)
- Overview of South Korea Electric Scooter Market
- Segmentation of South Korea Electric Scooter Market By Product (Folding, Retro, Standing/Self-Balancing)
- Segmentation of South Korea Electric Scooter Market By Battery (Li-Ion, NiMH, Sealed Lead Acid)
- Segmentation of South Korea Electric Scooter Market By Voltage (24V, 36V, 48V, Above 48V)
- Statistical Snap of South Korea Electric Scooter Market
- Expansion Analysis of South Korea Electric Scooter Market
- Problems and Obstacles in South Korea Electric Scooter Market
- Competitive Landscape in the South Korea Electric Scooter Market
- Impact of COVID-19 and Demonetization on South Korea Electric Scooter Market
- Details on Current Investment in South Korea Electric Scooter Market
- Competitive Analysis of South Korea Electric Scooter Market
- Prominent Players in the South Korea Electric Scooter Market
- SWOT Analysis of South Korea Electric Scooter Market
- South Korea Electric Scooter Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the South Korea Electric Scooter Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. South Korea Electric Scooter Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in South Korea Electric Scooter Market
7. South Korea Electric Scooter Market, By Product (USD Million)
7.1. South Korea Electric Scooter Market Value Share and Forecast, By Product, 2023-2033
7.2. Folding
7.3. Retro
7.4. Standing/Self-Balancing
8. South Korea Electric Scooter Market, By Battery (USD Million)
8.1. South Korea Electric Scooter Market Value Share and Forecast, By Battery, 2023-2033
8.2. Li-Ion
8.3. NiMH
8.4. Sealed Lead Acid
9. South Korea Electric Scooter Market, By Voltage (USD Million)
9.1. South Korea Electric Scooter Market Value Share and Forecast, By Voltage, 2023-2033
9.2. 24V
9.3. 36V
9.4. 48V
9.5. Above 48V
10. South Korea Electric Scooter Market Forecast, 2019-2033 (USD Million)
10.1. South Korea Electric Scooter Market Size and Market Share
11. South Korea Electric Scooter Market, By Product, 2019-2033 (USD Million)
11.1. South Korea Electric Scooter Market Size and Market Share By Product (2019-2026)
11.2. South Korea Electric Scooter Market Size and Market Share By Product (2027-2033)
12. South Korea Electric Scooter Market, By Battery, 2019-2033 (USD Million)
12.1. South Korea Electric Scooter Market Size and Market Share By Battery (2019-2026)
12.2. South Korea Electric Scooter Market Size and Market Share By Battery (2027-2033)
13. South Korea Electric Scooter Market, By Voltage, 2019-2033 (USD Million)
13.1. South Korea Electric Scooter Market Size and Market Share By Voltage (2019-2026)
13.2. South Korea Electric Scooter Market Size and Market Share By Voltage (2027-2033)
14. South Korea Electric Scooter Market, By Region, 2019-2033 (USD Million)
14.1. South Korea Electric Scooter Market Size and Market Share By Region (2019-2026)
14.2. South Korea Electric Scooter Market Size and Market Share By Region (2027-2033)
14.3. Busan
14.4. Daegu
14.5. Gyeonggi Province
14.6. Incheon
14.7. Seoul
14.8. Other Metropolitan Areas
15. Company Profile
15.1. IU Tech Co. Ltd.
15.1.1. Company details
15.1.2. Financial outlook
15.1.3. Product summary
15.1.4. Recent developments
15.2. Nanowheel
15.2.1. Company details
15.2.2. Financial outlook
15.2.3. Product summary
15.2.4. Recent developments
15.3. Segway Inc.
15.3.1. Company details
15.3.2. Financial outlook
15.3.3. Product summary
15.3.4. Recent developments
15.4. WEPED
15.4.1. Company details
15.4.2. Financial outlook
15.4.3. Product summary
15.4.4. Recent developments
15.5. Xiaomi Corporation
15.5.1. Company details
15.5.2. Financial outlook
15.5.3. Product summary
15.5.4. Recent developments
15.6. Others
16. List of Abbreviations
17. Reference Links
18. Conclusion
19. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
