South Korea Electric Vehicle Market to 2032
Overview
The South Korea Electric Vehicle Market is expected to reach a 140,267.18 USD Billion by 2032 and is projected to grow at a CAGR of 36.37% from 2025 to 2032.
Revenue, 2024 (USD Billion)
24,555.05
Forecast, 2032 (USD Billion)
140,267.18
CAGR, 2024 - 2032
36.37%
Report Coverage
South Korea
South Korea Electric Vehicle Market 2018-2032 USD Billion
South Korea Electric Vehicle Market, Key Findings (2025-2032)
Market Growth and Projections:
- Market Size (2024): 24,555.05 USD Billion
- Projected Market Size (2032): 140,267.18 USD Billion
- CAGR (2025-2032): 36.37%
Key Findings of South Korea Electric Vehicle Market
- The South Korea Electric Vehicle Market was valued at 24,555.05 USD Billion in 2024.
- The South Korea Electric Vehicle Market is likely to grow at a CAGR of 36.37% during the forecast period of 2024 to 2032.
- In 2024, the Largest segment Normal Charging in Charging Station Type Segment accounted for the largest share of the market with a revenue of 15,379.15 USD Billion
- The fastest growing segment Hybrid Electric Vehicle(HEVs) in Propulsion Type Segment grew Fastest with a CAGR of 39.89% during the forecast period from 2024 to 2032.
South Korea Electric Vehicle Market Scope
South Korea Electric Vehicle Market Segmentation & Scope
Component
- Others
- Infotainment System
- On-board Charger
- Battery Cells & Packs
Vehicle Type
- Commercial Vehicles
- Two Wheelers
- Passenger Cars
Power Train
- Combined Hybrid
- Parallel Hybrid
- Series Hybrid
Class
- Luxury
- Mid-Priced
Charging Station Type
- Super Charging
- Normal Charging
Propulsion Type
- Fuel Cell Electric Vehicle(FCEVs)
- Hybrid Electric Vehicle(HEVs)
- Plug-in Hybrid Electric Vehicles (PHEVs)
- Battery Electric Vehicle (BEV)
South Korea Electric Vehicle Market Data Coverage Insights
| Study Period | 2024-2032 |
| Base Year | 2021 |
| Unit | Revenue in USD Billion |
| Market Value in 2024 | 24,555.05 USD Billion |
| Market Value in 2032 | 140,267.18 USD Billion |
| CAGR (2025-2032) | 36.37% |
| Historic Data | 2016-2023 |
| Market Segments Covered | Component,Vehicle Type,Power Train,Class,Charging Station Type,Propulsion Type |
Regional Insights:
-
Leading Market (2024-2032): South Korea, leading in terms of revenue 24,555.05 USD Billion in 2024
- Key Country: South Korea, leading in terms of revenue with value of 24,555.05 USD Billion in 2024.
Segments and Scope
-
South Korea Electric Vehicle Market to 2032, By Component
- Battery Cells & Packs is the largest segment in South Korea Electric Vehicle Market to 2032 with a revenue of 10,703.26 USD Billion in the year 2024.
- Battery Cells & Packs is the Fastest growing segment in South Korea Electric Vehicle Market to 2032 with a Growth rate of 38.56 % in forecast period 2025-2032.
-
South Korea Electric Vehicle Market to 2032, By Vehicle Type
- Passenger Cars is the largest segment in South Korea Electric Vehicle Market to 2032 with a revenue of 11,811.82 USD Billion in the year 2024.
- Passenger Cars is the Fastest growing segment in South Korea Electric Vehicle Market to 2032 with a Growth rate of 38.44 % in forecast period 2025-2032.
-
South Korea Electric Vehicle Market to 2032, By Power Train
- Series Hybrid is the largest segment in South Korea Electric Vehicle Market to 2032 with a revenue of 10,402.22 USD Billion in the year 2024.
- Combined Hybrid is the Fastest growing segment in South Korea Electric Vehicle Market to 2032 with a Growth rate of 33.81 % in forecast period 2025-2032.
-
South Korea Electric Vehicle Market to 2032, By Class
- Mid-Priced is the largest segment in South Korea Electric Vehicle Market to 2032 with a revenue of 15,024.61 USD Billion in the year 2024.
- Mid-Priced is the Fastest growing segment in South Korea Electric Vehicle Market to 2032 with a Growth rate of 37.24 % in forecast period 2025-2032.
-
South Korea Electric Vehicle Market to 2032, By Charging Station Type
- Normal Charging is the largest segment in South Korea Electric Vehicle Market to 2032 with a revenue of 15,379.15 USD Billion in the year 2024.
- Normal Charging is the Fastest growing segment in South Korea Electric Vehicle Market to 2032 with a Growth rate of 37.31 % in forecast period 2025-2032.
-
South Korea Electric Vehicle Market to 2032, By Propulsion Type
- Battery Electric Vehicle (BEV) is the largest segment in South Korea Electric Vehicle Market to 2032 with a revenue of 10,786.72 USD Billion in the year 2024.
- Hybrid Electric Vehicle(HEVs) is the Fastest growing segment in South Korea Electric Vehicle Market to 2032 with a Growth rate of 36.00 % in forecast period 2025-2032.
South Korea Electric Vehicle Market Company Share Analysis
| Company Name |
|
||
| Ford Motor Company | |||
| Tesla | |||
| General Motors | |||
| Nissan Motor Co., Ltd. | |||
| TOYOTA MOTOR CORPORATION | |||
South Korea Electric Vehicle Market Geographical Sales Distribution, 2018-2032 USD Billion
South Korea Electric Vehicle Market Company Profiling
Industry Related Reports
Frequently Asked Questions
The South Korea Electric Vehicle Market is segmented based on Segmentation Component,Vehicle Type,Power Train,Class,Charging Station Type,Propulsion Type.
South Korea Electric Vehicle Market was valued at USD 24,555.05(Revenue in USD Billion) in 2021.
South Korea Electric Vehicle Market is projected to grow at a CAGR of 36.37% during the forecast period of 2024 to 2032.
The Normal Charging segment is expected to dominate the South Korea Electric Vehicle Market, holding a largest market share of 15,379.15 USD Billion in 2024
South Korea Electric Vehicle Market Scope
South Korea Electric Vehicle Market Segmentation & Scope
Component
- Others
- Infotainment System
- On-board Charger
- Battery Cells & Packs
Vehicle Type
- Commercial Vehicles
- Two Wheelers
- Passenger Cars
Power Train
- Combined Hybrid
- Parallel Hybrid
- Series Hybrid
Class
- Luxury
- Mid-Priced
Charging Station Type
- Super Charging
- Normal Charging
Propulsion Type
- Fuel Cell Electric Vehicle(FCEVs)
- Hybrid Electric Vehicle(HEVs)
- Plug-in Hybrid Electric Vehicles (PHEVs)
- Battery Electric Vehicle (BEV)
Frequently Asked Questions
The South Korea Electric Vehicle Market is segmented based on Segmentation Component,Vehicle Type,Power Train,Class,Charging Station Type,Propulsion Type.
South Korea Electric Vehicle Market was valued at USD 24,555.05(Revenue in USD Billion) in 2021.
South Korea Electric Vehicle Market is projected to grow at a CAGR of 36.37% during the forecast period of 2024 to 2032.
The estimated market value of the South Korea Electric Vehicle Market for final year is USD 140,267.18 (USD Billion).
South Korea Electric Vehicle Market Company Profiling
Frequently Asked Questions
The South Korea Electric Vehicle Market is segmented based on Segmentation Component,Vehicle Type,Power Train,Class,Charging Station Type,Propulsion Type.
South Korea Electric Vehicle Market was valued at USD 24,555.05(Revenue in USD Billion) in 2021.
South Korea Electric Vehicle Market is projected to grow at a CAGR of 36.37% during the forecast period of 2024 to 2032.
The estimated market value of the South Korea Electric Vehicle Market for final year is USD 140,267.18 (USD Billion).
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