South Korea Electric Mobility Market
South
Korea’s electric mobility market is expanding rapidly, with the country’s
automotive giants investing heavily in electric vehicle technologies. The
market covers electric cars, scooters, and public transport options, supported
by strong government policies aimed at reducing emissions. South Korea’s focus
on technological innovation and battery development is driving the market
forward, positioning the country as a key player in the global EV industry.
The research reports provide
predictions regarding the global market's rising revenue data, which is
anticipated to acquire a market worth of USD 387.50 Billion by the end of 2032. The reports also
tell that the market will be worth nearly USD 107.6 Billion in 2022. The Electric
Mobility Market has recently advanced. The main feature causing a rise in
market performance is
the environmental harm caused by rising greenhouse gas concentrations.
Furthermore, the substantial increase in carbon footprint is also likely to
cause a surge in the performance of the global market for electric mobility
over the review era.
The study documents by MRFR state
that the Electric Mobility Market Research Report Information by Product,
End User, Battery, Drive, and Region - Forecast Till 2032, the Electric Mobility Market is likely to grow considerably throughout
the valuation period from 2022 to 2032 at a notable CAGR of nearly 15.30%.
Competitive Analysis
·
BMW Motorrad International
· Ninebot
Ltd.
·
Gogoro, Inc.
·
Suzuki Motor Corporation
·
Honda Motor Co. Ltd.
·
Terra Motors Corporation
·
KTM AG
·
Vmoto Limited ABN
·
Mahindra Group
·
Yamaha Motor Company Limited
Electric Mobility Market Drivers
The Electric
Mobility Market has recently advanced. The main feature causing a rise in
market performance is
the environmental harm caused by rising greenhouse gas concentrations.
Furthermore, the substantial increase in carbon footprint is also likely to
cause a surge in the performance of the global market for electric mobility
over the review era. In addition, the rising requirement for building charging infrastructure
across the globe is also likely to boost the growth of the market over the
assessment period.
Electric Mobility Market Restraints
However, several parameters may
impede the performance of the global market for Electric
Mobility. One of the main parameters limiting the development of the
market's development is the elevated prices allied with raw materials.
Electric Mobility Segment Analysis
The global market for Electric
Mobility has been segregated into various segments based on End User, Battery,
Product, Drive, and region.
Based on the product, the global
market for Electric Mobility is divided into Electric Motorcycles, Electric
Motorized Scooters, Electric Scooters, and Electric Bikes.
Based on the drive, the global market
for Electric Mobility is divided into Hub Drive, Chain Drive, and Belt
Drive.
Based on the battery, the global
market for Electric Mobility is divided into Li-Ion Battery, Lead Acid Battery,
and Others.
Based on the end-users, the global
market for Electric Mobility is divided into Commercial and Personal.
Electric Mobility Market Regional
Analysis
The data reports by MRFR state that
the North American Region ensured the primary spot across the Electric Mobility
Market in 2022. The region has substantial development participants, such as
the U.S., Canada, and Mexico. The primary parameter causing a surge in the
performance of the regional Electric Mobility Market is the technical
advancements in the region. Furthermore, the presence of top EV producers like
General Motors, Tesla Inc., and others is also likely to boost the growth of
the regional market over the coming years.
The
European Region will grow substantially across the Electric Mobility Market
from 2023 to 2032. The region has substantial development participants, such as
Germany, France, and the U.K. The primary parameter causing a surge in the performance of
the regional Electric Mobility Market is the strict emission standards and
environmental worries.
The Asia-Pacific region is estimated
to grow at the highest pace across the Electric Mobility Market over the
assessment era. The region has substantial development participants, such as
China, India, and Indonesia. The primary parameter causing a surge in the
performance of the regional Electric Mobility Market is the rising adoption of
electric vehicles in APAC's developing nations.
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