South Korea Electric Scooter Market Trends, Revenue, Scope, Growth Drivers, Key Manufacturers, Opportunities and Future Competition Till 2033

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South Korea Electric Scooter Market Trends, Revenue, Scope, Growth Drivers, Key Manufacturers, Opportunities and Future Competition Till 2033: SPER Market Research



 Published: Jul-2023
 Author: SPER Analyst


South Korea Electric Scooter Market is projected to be worth USD XX billion by 2033 and is anticipated to surge at a CAGR of 25.9%.

Electric scooters are small, two-wheeled vehicles that are propelled by rechargeable batteries and use an electric motor as their source of power. Particularly in metropolitan areas, they have grown in favour as an effective and environmentally friendly method of transportation. Electric scooters provide a number of benefits, such as less emissions, less noise pollution, and economical operation. They offer a practical and environmentally beneficial substitute for conventional means of transportation and are particularly suited for short-distance travel. Lightweight and manoeuvrable, electric scooters frequently include amenities like LED lighting, digital displays, and smart networking possibilities. They are frequently utilised for everyday transportation, last-mile travel, and leisure activities. Electric scooters are expanding in availability and usage as infrastructure and technology continue to advance, which helps to promote sustainable urban mobility.

South Korea Electric Scooter Market Driving Factors and Challenges

The Electric Scooter Market in South Korea is witnessing expansion due to the strong support from the government, which is a key driver of growth. The South Korean government has made significant efforts to promote electric vehicles, specifically electric scooters, by implementing various measures. These measures include upgrading infrastructure, providing tax exemptions, and offering subsidies. With South Korea's high population density, electric scooters have emerged as a promising solution for last-mile transportation. They can facilitate convenient transfers between public transport hubs and final destinations, thereby reducing congestion. The government's campaign to encourage the adoption of electric scooters presents favorable opportunities for growth in the market.

The Electric Scooter Market in South Korea is facing obstacles due to the inadequate infrastructure for charging electric scooters. The limited availability of charging stations hinders the widespread adoption of electric scooters. To overcome this challenge, it is essential to expand the charging network across cities, parking lots, and public areas. By establishing a comprehensive charging infrastructure, it will help alleviate concerns about range anxiety and encourage more people to embrace electric scooters. Expanding the availability of charging stations will play a significant role in promoting the usage of electric scooters and facilitating their integration into the transportation system.


Impact of COVID-19 on South Korea Electric Scooter Market
There has been a rise in the use of personal mobility devices, leading to an increased interest in electric scooters as a means of socially isolated transportation. Government incentives and subsidies for electric vehicles have played a favorable role in this trend. However, challenges have arisen due to disruptions in the supply chain, reduced consumer spending, and a decline in travel and commuting. The long-term effects on the market will be influenced by government initiatives, consumer behavior, and economic recovery. As the situation improves, it is anticipated that the market for electric scooters will gain momentum. The ultimate growth trajectory of the market will be determined by a combination of these factors and the overall recovery of the economy.

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; IU Tech Co. Ltd., Nanowheel, Segway Inc., WEPED, Xiaomi Corporation.


South Korea Electric Scooter Market Segmentation:

By Product: Based on the Product, South Korea Electric Scooter Market is segmented as; Folding, Retro, Standing/Self-Balancing.

By Battery: Based on the Battery, South Korea Electric Scooter Market is segmented as; Li-Ion, NiMH, Sealed Lead Acid.

By Voltage: Based on the Voltage, South Korea Electric Scooter Market is segmented as; 24V, 36V, 48V, Above 48V.

By Region: This report also provides the data for key regional segments of Busan, Daegu, Gyeonggi Province, Incheon, Seoul, Other Metropolitan Areas.

This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.

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