South Korea Electric Truck Market Outlook (2020-2025) | COVID-19 IMPACT, Forecast, Size, Value, Industry, Share, Revenue, Growth, Companies, Trends & Analysis

South Korea Electric Truck Market report comprehensively covers the market by-charger types, DC charger connector types, DC charger power ratings, and end consumers. South Korea Electric Truck market report provides an unbiased and detailed analysis of the ongoing trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

South Korea Electric Truck Market Synopsis

Korea is designing standards for its heavy-duty vehicles and expects to circulate them by 2022 in order to improve the efficiency of its fleet of heavy-duty vehicles such as trucks, thereby further augmenting the demand for electric trucks over the coming years. In 2020, the sales of electric trucks increased exponentially due to the release of mass-production models with improved performance and increased price competitiveness, and the benefits of the trucking business license. The number of electric trucks planned by the government this year is 7,500 units. However, the incursion of the COVID-19 pandemic has resulted in a slowdown in the economy during the first half of 2020 further obstructing the growth of electric vehicle market.

According to 6Wresearch, South Korea Electric Truck market size grew at a CAGR of 45.6% during 2020-2025. In November 2020, Hyundai Glovis announced that it has piloted a 1-ton electric truck, the first refrigerated and frozen logistics transport system in Korea, as a delivery vehicle for fresh goods at SSG.com. The company plans to gradually expand the use of vehicles from 2021. Furthermore, the growing importance of cold chain logistics in Korea, on account of the rapid growth of the fresh food delivery market and the increased demand for medicines after Covid 19, would further propel the demand for electric trucks over the coming years.

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 6 Years Market Numbers.
• Estimated Data Starting from 2020 to 2025F.
• Base Year: 2019
• Forecast Data until 2025F.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report

• South Korea Electric Truck Market Overview
• South Korea Electric Truck Market Outlook
• South Korea Electric Truck Market Forecast
• Historical Data and Forecast South Korea Electric Truck Market Revenues and Volume for the Period 2019-2025F
• Historical Data and Forecast of South Korea Electric Truck Market Revenues and Volume, By Vehicle Types, for the Period 2019-2025F
• Historical Data and Forecast of South Korea Electric Truck Market Revenues and Volume, By Charger Types, for the Period 2019-2025F
• Historical Data and Forecast of South Korea Electric Truck Market Revenues and Volume, By DC Charger Connector Types, for the Period 2019-2025F
• Historical Data and Forecast of South Korea Electric Truck Market Revenues and Volume, By DC Charger Power Ratings, for the Period 2019-2025F
• Historical Data and Forecast of South Korea Electric Truck Market Revenues and Volume, By Charger End Consumers, for the Period 2019-2025F
• Market Drivers and Restraints
• Industry Life Cycle
• Porter’s Five Force Analysis
• Impact Analysis of COVID-19
• Market Trends
• South Korea Vehicle Market Revenue Ranking, By Companies
• Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Market Scope and Segmentation

The report provides a detailed analysis of the following market segments:

By Charger Types

• AC
• DC

By DC Charger Connector Types

• CHAdeMO
• CCS
• Others (including Tesla superchargers and GB/T)

By DC Charger Power Ratings

• 40-80 kW
• 80-120 kW
• 120-200 kW

By Charger End Consumers

• Public
• Private