Summary
Hybrid & Electric Cars in South Korea industry profile provides top-line qualitative and quantitative summary information including: market size (value 2019-24, and forecast to 2029). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
- Hybrid & electric cars market includes the initial retail sale/registration of new electric and hybrid passenger cars. Passenger cars include saloons/sedans, hatchbacks, SUVs, 4x4s, and other related vehicles. Market value is calculated at the retail selling price (RSP) and the market volume is given in terms of units sold.
- The South Korean hybrid & electric cars market recorded revenues of $17,359.5 million in 2024, representing a compound annual growth rate (CAGR) of 30.1% between 2019 and 2024.
- Market consumption volume increased with a CAGR of 31.6% between 2019 and 2024, reaching a total of 533,490.0 units in 2024.
- The growth of the hybrid & electric cars market in South Korea is driven by favorable macroeconomic conditions. One of the key drivers is rising GDP, which supports consumer spending and fosters a conducive environment for the adoption of advanced and sustainable automotive technologies such as hybrid and electric cars. According to the Bank of Korea, the country’s real GDP growth in 2024 was 2.1%.
Scope
- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the hybrid & electric cars market in South Korea
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the hybrid & electric cars market in South Korea
- Leading company profiles reveal details of key hybrid & electric cars market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the South Korea hybrid & electric cars market with five year forecasts
Reasons to Buy
- What was the size of the South Korea hybrid & electric cars market by value in 2024?
- What will be the size of the South Korea hybrid & electric cars market in 2029?
- What factors are affecting the strength of competition in the South Korea hybrid & electric cars market?
- How has the market performed over the last five years?
- What are the main segments that make up South Korea's hybrid & electric cars market?
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Table of Contents
1 Executive Summary
1.1. Market value
1.2. Market value forecast
1.3. Market volume
1.4. Market volume forecast
1.5. Category segmentation
1.6. Geography segmentation
1.7. Market rivalry
1.8. Competitive landscape
2 Market Overview
2.1. Market definition
2.2. Market analysis
3 Market Data
3.1. Market value
3.2. Market volume
4 Market Segmentation
4.1. Category segmentation
4.2. Geography segmentation
5 Market Outlook
5.1. Market value forecast
5.2. Market volume forecast
6 Five Forces Analysis
6.1. Summary
6.2. Buyer power
6.3. Supplier power
6.4. New entrants
6.5. Threat of substitutes
6.6. Degree of rivalry
7 Competitive Landscape
7.1. Who are the leading players?
7.2. What strategies do the leading players follow?
7.3. What are the recent developments in the market?
8 Company Profiles
8.1. Hyundai Motor Co
8.2. Kia Corp
8.3. Tesla Inc
8.4. General Motors Co
9 Macroeconomic Indicators
9.1. Country data
10 Appendix
10.1. Methodology
10.2. Industry associations
10.3. Related MarketLine research
10.4. About MarketLine
List of Tables
Table 1: South Korea hybrid & electric cars market value: $ million, 2019-24
Table 2: South Korea hybrid & electric cars market volume: Units, 2019-24
Table 3: South Korea hybrid & electric cars market category segmentation: % share, by value, 2019-24
Table 4: South Korea hybrid & electric cars market category segmentation: $ million, 2019-24
Table 5: South Korea hybrid & electric cars market geography segmentation: $ million, 2024
Table 6: South Korea hybrid & electric cars market value forecast: $ million, 2024-29
Table 7: South Korea hybrid & electric cars market volume forecast: Units, 2024-29
Table 8: Hyundai Motor Co: Key Facts
Table 9: Hyundai Motor Co: Annual Financial Ratios
Table 10: Hyundai Motor Co: Key Employees
Table 11: Kia Corp: Key Facts
Table 12: Kia Corp: Annual Financial Ratios
Table 13: Kia Corp: Key Employees
Table 14: Tesla Inc: Key Facts
Table 15: Tesla Inc: Annual Financial Ratios
Table 16: Tesla Inc: Key Employees
Table 17: General Motors Co: Key Facts
Table 18: General Motors Co: Annual Financial Ratios
Table 19: General Motors Co: Key Employees
Table 20: General Motors Co: Key Employees Continued
Table 21: South Korea Exchange Rate, 2019-24
List of Figures
Figure 1: South Korea hybrid & electric cars market value: $ million, 2019-24
Figure 2: South Korea hybrid & electric cars market volume: Units, 2019-24
Figure 3: South Korea hybrid & electric cars market category segmentation: $ million, 2019-24
Figure 4: South Korea hybrid & electric cars market geography segmentation: % share, by value, 2024
Figure 5: South Korea hybrid & electric cars market value forecast: $ million, 2024-29
Figure 6: South Korea hybrid & electric cars market volume forecast: Units, 2024-29
Figure 7: Forces driving competition in the hybrid & electric cars market in South Korea, 2024
Figure 8: Drivers of buyer power in the hybrid & electric cars market in South Korea, 2024
Figure 9: Drivers of supplier power in the hybrid & electric cars market in South Korea, 2024
Figure 10: Factors influencing the likelihood of new entrants in the hybrid & electric cars market in South Korea, 2024
Figure 11: Factors influencing the threat of substitutes in the hybrid & electric cars market in South Korea, 2024
Figure 12: Drivers of degree of rivalry in the hybrid & electric cars market in South Korea, 2024
