South Korea E-Scooter Market Size 2023, Share, Growth Drivers, Emerging Trends, Industry Demand, Key Manufacturers, Revenue, Business Analysis and Forecast Scope till: SPER Market Research
An extensive study of the South Korean electric scooter industry is included in the report, together with information on market size, trends, product mix, distribution routes, and supplier analysis. “Electric scooter” refers to a two-wheeled vehicle powered by electricity. This environmentally friendly and efficient mode of transportation is meant to be used for individual use. Particularly for short-distance and urban riding, electric scooters frequently have a lightweight, compact design. They contain rechargable batteries that provide the scooter’s electric motor the energy it needs to continue.
According to SPER market research, ‘South Korea Electric Scooter Market Size- By Product, By Battery, By Voltage – Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the South Korea Electric Scooter Market is predicted to reach USD XX billion by 2033 with a CAGR of 25.9%.
The government’s strong support, which is a major growth engine, is contributing to the expansion of the electric scooter market in South Korea. Through the implementation of numerous policies, the South Korean government has made major efforts to encourage electric vehicles, particularly electric scooters. These actions consist of making tax exemptions, subsidizing, and improving infrastructure. Electric scooters have become a viable last-mile mobility option due to South Korea’s dense population. By making it easier to move between public transportation hubs and end destinations, they help ease traffic congestion. The government’s initiative to promote the use of electric scooters offers promising prospects for market expansion.
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The government of South Korea strongly supports electric vehicles, especially electric scooters, which presents opportunities for growth. An attempt is being made to encourage the usage of electric scooters through tax breaks, subsidies, and improved infrastructure.
The accessibility and availability of charging infrastructure continues to be a barrier to the adoption of electric scooters. It will be crucial to extend the charging network throughout cities, parking lots, and public areas in order to lessen range anxiety and promote the use of electric scooters.
Impact of COVID-19 on South Korea Electric Scooter Market
The usage of personal mobility devices has expanded, which has raised interest in electric scooters as a way to get around in a socially isolated way. This movement has been aided by government subsidies and incentives for electric cars. Nonetheless, difficulties have emerged as a result of supply chain interruptions, lower consumer expenditure, and a drop in travel and commuting. The market’s long-term consequences will be shaped by consumer behavior, government efforts, and economic recovery. It is expected that the market for electric scooters would grow as things get better. A combination of these elements and the general economic recovery will decide the market’s final growth trajectory.
South Korea Electric Scooter Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; WEPED, IU Tech Co. Ltd., Xiaomi Corporation, Nanowheel, Segway Inc.
Our in-depth analysis of the South Korea Electric Scooter Market includes the following segments:
By Product:
- Folding
- Retro
- Standing/Self-Balancing
By Battery:
- Li-Ion
- NiMH
- Sealed Lead Acid
By Voltage:
- 24V
- 36V
- 48V
- Above 48V
For More Information about this Report:-
South Korea Electric Scooter Market Business Analysis
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