South Korea Electric Motorcycles & Scooters Market was valued at USD 1.8 Billion in 2022 and is projected to reach USD 4.5 Billion by 2030, growing at a CAGR of 12.7% from 2024 to 2030.
The South Korea Electric Motorcycles & Scooters Market has been experiencing a significant rise in demand, driven by an increasing focus on sustainability, government incentives, and growing awareness of the environmental benefits of electric vehicles (EVs). As more South Koreans seek eco-friendly transportation solutions, the adoption of electric motorcycles and scooters has surged. This market's application is diverse, catering to various industries, including logistics, delivery services, personal transportation, and public commuting.
In recent years, industries in South Korea have realized the potential of electric motorcycles and scooters, particularly in urban environments where congestion and pollution are major concerns. These electric two-wheelers are seen as an effective solution to reduce both traffic jams and emissions. Logistics companies, such as those involved in food delivery, are increasingly incorporating electric motorcycles into their fleets. This transition not only reduces operational costs but also improves the environmental footprint of businesses in the region.
Manufacturers are responding to the market's growing demand by improving battery technology, enhancing charging infrastructure, and increasing vehicle efficiency. In 2024, the electric motorcycle market is expected to grow at an exponential rate as South Korean consumers embrace the benefits of these vehicles. This growing trend has led to the development of specialized models for business use, designed to carry heavier loads or support longer distances for delivery services.
From an industrial perspective, South Korea's electric motorcycle & scooter market presents clear advantages. Companies in the logistics sector find electric motorcycles perfect for last-mile delivery, reducing costs per delivery and increasing efficiency. Additionally, electric motorcycles serve as a low-maintenance, cost-effective alternative to traditional fuel-powered bikes, leading to a surge in demand among various industries focused on reducing overheads while meeting growing delivery needs.
The government of South Korea also plays a key role in supporting this market, offering incentives for companies and consumers who choose electric motorcycles and scooters. The expansion of charging infrastructure, along with favorable policies, has provided a solid foundation for the industry to grow. Moreover, urban planning initiatives designed to facilitate electric vehicle use have made electric motorcycles and scooters more viable for everyday commuting.
As this market continues to evolve, industries are recognizing the value of incorporating electric motorcycles and scooters into their operations. These vehicles offer a unique combination of environmental benefits, cost savings, and efficiency, making them a valuable asset in South Korea's push towards sustainable transportation solutions.
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Yadea
Zongshen Electric Motorcycle
Sunra
AIMA
BYVIN
Lvyuan
HONG ER DA
Lima
TAILG
Wuyang Honda
Xiaodao Ebike
Accell Group
Lvjia
Govecs
Sykee
Supaq
Slane
Terra Motor
Aucma EV
Opai Electric
Gazelle
ZEV
Zero Motorcycles
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Electric Motorcycles & Scooters Market
Electric Motorcycles
Electric Scooters
Lithium-ion Batteries
Lead-acid Batteries
Nickel Metal Hydride Batteries
Short-range (up to 50 miles)
Medium-range (51 to 100 miles)
Long-range (over 100 miles)
Individual Users
Commercial Users
Shared Mobility Services
Below 3 kW
3 kW to 10 kW
Above 10 kW
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Electric Motorcycles & Scooters Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Electric Motorcycles & Scooters Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Electric Motorcycles & Scooters Market, By Type
6. South Korea Electric Motorcycles & Scooters Market, By Application
7. South Korea Electric Motorcycles & Scooters Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Electric Motorcycles & Scooters Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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