South Korea Electric Suv Market Size & Outlook, 2023-2030
The electric suv market in South Korea is expected to reach a projected revenue of US$ 50,744.0 million by 2030. A compound annual growth rate of 32.6% is expected of South Korea electric suv market from 2024 to 2030.
Revenue, 2023 (US$M)
$7,041.2
Forecast, 2030 (US$M)
$50,744.0
CAGR, 2024 - 2030
32.6%
Report Coverage
South Korea
Global Market
Related Markets
South Korea electric suv market highlights
- The South Korea electric suv market generated a revenue of USD 7,041.2 million in 2023 and is expected to reach USD 50,744.0 million by 2030.
- The South Korea market is expected to grow at a CAGR of 32.6% from 2024 to 2030.
- In terms of segment, compact was the largest revenue generating vehicle type in 2023.
- Mid Size is the most lucrative vehicle type segment registering the fastest growth during the forecast period.
Electric suv market data book summary
| Market revenue in 2023 | USD 7,041.2 million |
| Market revenue in 2030 | USD 50,744.0 million |
| Growth rate | 32.6% (CAGR from 2023 to 2030) |
| Largest segment | Compact |
| Fastest growing segment | Mid Size |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Compact, Mid Size, Full Size |
| Key market players worldwide | Tesla Inc, BYD Company, Hyundai Motor Co, Volkswagen AG, Toyota Motor Corp, Nissan Motor Co Ltd, Kia Corp, Ford Motor Co, General Motors, Honda Motor Co Ltd, Volvo AB ADR |
Other key industry trends
- In terms of revenue, South Korea accounted for 1.3% of the global electric suv market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China electric suv market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 58,472.7 million by 2030.
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Publish Date: Jul 08, 2024
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Electric SUV Market Scope
Electric SUV Market segmentation & scope
Electric SUV Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Volvo AB ADR | View profile | 104,905 | Gropegardsgatan 2, Gothenburg, Sweden, 417 15 | www.volvogroup.com |
| Toyota Motor Corp | View profile | 380,793 | 1 Toyota-cho, Aichi Prefecture, Toyota, Japan, 471-8571 | www.global.toyota |
| Tesla Inc | View profile | 140,473 | 1 Tesla Road, Austin, TX, United States, 78725 | www.tesla.com |
| Volkswagen AG | View profile | 656,134 | Berliner Ring 2, Wolfsburg, NI, Germany, 38440 | www.volkswagenag.com |
| Hyundai Motor Co | View profile | 73,502 | 12, Heolleung-ro, Seocho-Gu, Seoul, Korea, Republic of | www.hyundai.com |
| Honda Motor Co Ltd | View profile | 194,993 | Number 1-1, Minami-Aoyama 2-chome, Minato-ku, Tokyo, Japan, 107-8556 | global.honda |
| Ford Motor Co | View profile | 177,000 | One American Road, Dearborn, MI, United States, 48126 | www.ford.com |
| Nissan Motor Co Ltd | View profile | 147,116 | 1-1, Takashima 1-chome, Nishi-ku, Yokohama-shi, Kanagawa, Japan, 220-8686 | www.nissan-global.com |
| General Motors | View profile | 10001+ | Detroit, Michigan, United States, North America | www.gm.com |
| BYD Company | View profile | 10001+ | Shenzhen, Guangdong, China, Asia | en.byd.com |
South Korea Electric SUV Market Outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to Electric SUV Market Outlook will help companies and investors design strategic landscapes.
Compact was the largest segment with a revenue share of 53.05% in 2023.
Horizon Databook has segmented the South Korea electric suv market based on compact, mid size, full size covering the revenue growth of each sub-segment from 2018 to 2030.
- South Korea Electric Suv Market Vehicle Type Outlook (Revenue, USD Million , 2018-2030)
- Compact
- Mid Size
- Full Size
- South Korea Electric Suv Market Propulsion type Outlook (Revenue, USD Million , 2018-2030)
- BEV
- PHEV
- South Korea Electric Suv Market Vehicle Range Outlook (Revenue, USD Million , 2018-2030)
- Upto 250 miles
- 250-500 miles
- Above 500 miles
- South Korea Electric Suv Market Drive Type Outlook (Revenue, USD Million , 2018-2030)
- FWD
- RWD
- AWD
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea Electric SUV Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into South Korea Electric SUV Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
South Korea Electric Suv Market, 2018-2030 (US$M)
South Korea electric suv market statistics, by vehicle type, 2018-2030 (Thousand Units)
