South Korean Electric Vehicle Market Report 2021: Top 10 Models for 2020 as Well as Historical Top 10 Models for PEVs and HEVs - Forecast to 2025

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Sep 01, 2021, 06:15 ET

DUBLIN, Sept. 1, 2021 /PRNewswire/ -- The "South Korean Electric Vehicle Growth Opportunities" report has been added to ResearchAndMarkets.com's offering.

The study gives us a detailed analysis of the EV market scenario with charts based on annual sales (anchored in 2020) as well as historical sales. PEVs and HEVs have separate sections.

Automotive industry is rapidly evolving in terms of technology as well as tackling environmental issues. Electric vehicles (EVs) have been introduced as a clean energy initiative due to low or zero emissions and have come a long way to become an integral part of OEMs' business strategies.

Automakers are creating separate EV business units to be prepared for the expected EV boom in the future. But, the surge in EV demand will create a huge need for charging infrastructure, safety regulations, and new standards.

South Korea is a curious market considering the technology leadership in battery production and strong EV sales (exports) in Europe, despite the home market lagging considerably behind Europe, China and US. Hybrids have done well in South Korea suggesting an enthusiasm for alternative fuel vehicles and environmental considerations. According to the public, primary factors for slow EV adoption are low EV range and lack of charging infrastructure.

2020 is an important year as PEVs had their highest annual sales ever while EV (PEVs and HEVs) market penetration surpassed 10% for the first time. The government made huge strides in expanding the charging infrastructure along with a renewed focus on increasing EV penetration while adopting stricter emission policies similar to Europe.

Hyundai-Kia will be launching its first EVs based on the brand's new pure electric E-GMP platform with state-of-the-art specs. Battery manufacturers, such as LG Chem, Samsung SDI, and SK Innovations have entered into an arms race to consolidate long-term supply contracts, raw material supply, R&D for improved batteries, chemistries, recycling, and other key partnerships as they brace themselves for the inevitable battery boom.

Data is compiled and presented in the form of:

Historical annual sales, monthly sales for 2020, and market penetration as well as YoY growth from 2010 to 2020
Market share by EV type, and sales share of each EV type for the top 5 highest selling OEMS since 2010
Top 10 models for 2020 as well as historical top 10 models for PEVs and HEVs
Charging station infrastructure data
Detailed regional incentives, regional scenarios (drivers and restraints)
Battery manufacturer profiles
Hyundai-Kia profile
Key EV-centric start-ups in the region

Key Issues Addressed

How has the EV market progressed from 2010?
What is the most popular EV type, vehicle model, OEM, and vehicle segment year on year and cumulatively?
What are the market shares for PHEVs, BEVs, FHEVs, and MHEVs, and how has their growth trend been since 2010?
Which are the fastest growing OEMs, and which models have disrupted sales trends or exposed demand in the market?
Which are the key participants in EV industry, and what are their plans for the immediate future (next 1 to 2 years)?
Which are the significant EV start-ups in the region, and what sectors they are targeting?
What is the current regional scenario in terms of incentives, drivers, and restraints?
What are the growth opportunities?
The report also provides the growth opportunities to act on and the suggested actions.

Key Topics Covered:

1. Strategic Imperatives

Why Is It Increasingly Difficult to Grow?
The Strategic Imperative
Impact of Top Three Strategic Imperatives on South Korean Electric Vehicles
Growth Opportunities Fuel the Growth Pipeline Engine
Electric Vehicle (EV) Propulsion Types
Key Competitors in South Korea's EV Market
South Korean EV and Hybrid Market Overview

2. Growth Environment

South Korea - Key Takeaways
South Korea - Key Growth Metrics
Historical PEV and HEV Sales, South Korea 2010-2020
Historical Cumulative EV Sales, South Korea, 2010-2020
Top Selling PEV Models, South Korea 2010-2020
Top Selling HEV Models, South Korea 2010-2020
South Korea EV Market Snapshot, 2020
Market Share by Propulsion Type

3. PEV Market - BEVs & PHEVs

Historical PEV Sales, South Korea 2010-2020
Historical BEV versus PHEV Sales, 2010-2020
Monthly PEV Sales Distribution, 2020
2020 PEV Sales - Top 10 OEMs and Models (BEVs and PHEVs)
Top Selling PEV Models, South Korea 2010-2020
PEV Passenger Car Forecast, 2021-2025
PEV Passenger Car Forecast Discussion, 2021-2025

4. HEV Market - FHEVs & MHEVs

Historical HEV Sales, South Korea 2010-2020
Historical FHEV vs. MHEV Sales, 2010-2020
Monthly HEV Sales Distribution, 2020
HEV Sales of Top 10 OEMs and Models, 2020 (FHEV and MHEV)
Top Selling HEV Models, South Korea 2010-2020

5. Charging Infrastructure

Charging Infrastructure in South Korea, 2020
Future of Charging Infrastructure in South Korea, 2020

6. OEM & Technology Highlight

OEM Highlight - Hyundai-Kia
OEM Highlight - Battery Manufacturers
South Korea's eMobility Start-ups

7. Government Incentives & Regional Scenario

South Korea's EV Incentives
Regional Scenario - Key Drivers for EV Penetration
Regional Scenario - Key Restraints in the EV Market

8. Growth Opportunity

Growth Opportunity 1 - Li-ion Battery Recycling will be a Critical Industry in South Korea as it is Home to 3 of the World's Leading Li-ion Battery Manufacturers
Growth Opportunity 2 - Unlocking the Commercialization Potential for the Rapidly Growing Charging Industry in South Korea
Growth Opportunity 3 - Partnerships and Acquisitions Enable Existing Oil & Gas Companies to Pivot to EV Charging and Leverage Existing Locations

9. Next Steps

For more information about this report visit https://www.researchandmarkets.com/r/1xkj5b

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]

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