Press release
South Korea Electric Bus Market 2020 Growth, COVID Impact, Trends Analysis Report 2026
South Korea electric bus market is anticipated to grow at a significant rate during the forecast period (2019-2025). The major factors that are driving the market include the rising demand for improvement in public transport, the cohesive government plan for electrification of public transport, and rapid urbanization.(Get 15% Discount on Buying this Report)
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Electric buses in Seoul surpassed the mark of 150 by 2020, further, the government aims to procure more than 110 electric buses by 2021 as well. The Seoul city government is working to replace buses operated by CNG with battery-powered electric buses. As of the end of 2018, the 143 zero-emission buses had joined 29 eBuses already in service on three routes. Hyundai, Edison Motors, and High were jointly responsible for these buses.
A Full Report of South Korea Electric Bus Market is Available at: https://www.omrglobal.com/industry-reports/south-korea-electric-bus-market
Furthermore, Hyundai has provided as many as 30 fuel cell buses to six cities. By the year 2022, the aim of the Memorandum of Understanding signed by Hyundai and government institutions is to have 1,000 hydrogen and electric buses on the road nationwide. Further, a rising number of R&D in an electric vehicle is expected to propel the market growth in the near future. For instance, in May 2019, Hyundai motors launched a new electric double-decker bus as a part of the company’s effort to increase the electric bus fleet in South Korea, which in turn is assisting the market growth.
Market Coverage
The market number available for – 2018-2025
Base year- 2018
Forecast period- 2019-2025
Segment Covered- Bus Type, Battery Type, and End-User
Region Covered- South Korea
Competitive Landscape- BYD Co. Ltd., Edison Motors, High Bus Co. Ltd., and Hyundai Motor Co.
Key Questions Addressed by the Report
What is the market growth rate?
Which segment dominates the market in the base year?
Which segment will project the fastest growth in the market?
How COVID-19 impacted the market?
Who is the leader in the market?
How players are addressing challenges to sustain growth?
Where is the investment opportunity?
South Korea Electric Bus Market Report Segment
By Bus Type
Hybrid Electric Bus
Fuel Cell Electric Bus
Battery Electric Bus
By Battery Type
Lithium-ion batteries
NiMH Batteries
Others
By End-User
Government
Fleet Owner
Reasons to Buying From us –
We cover more than 15 major industries, further segmented into more than 90 sectors.
More than 120 countries are for analysis.
Over 100+ paid data sources mined for investigation.
Our expert research analysts answer all your questions before and after purchasing your report.
For More Customized Data, Request for Report Customization @ https://www.omrglobal.com/report-customization/south-korea-electric-bus-market
Media Contact:
Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Email: anurag@omrglobal.com
Contact no: +91 780-304-0404
About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services.
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