South Korea Electric Bus Market 2022-2027

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    SOUTH KOREA ELECTRIC BUS MARKET

    INTRODUCTION

    Conventional electric bus battery packs have low capacity, high charging times, and restricted range per charge. The charging-discharging performance of batteries deteriorates dramatically in cold regions, finding it challenging for the battery packs to deliver maximum power.

     

    Infographic: South Korea Electric Bus Market, South Korea Electric Bus Market Size, South Korea Electric Bus Market Trends, South Korea Electric Bus Market Forecast, South Korea Electric Bus Market Risks, South Korea Electric Bus Market Report, South Korea Electric Bus Market Share

     

    The time it takes to charge an electric bus with today’s market technology is quite long, resulting in wasted time. With a 7 kW charging outlet, charging an electric vehicle from zero to 100 percent takes more than four hours on average.

    SOUTH KOREA ELECTRIC BUS MARKET DEVELOPMENTS AND INNOVATIONS

    S No Overview of Development Development Detailing Region of Development Possible Future Outcomes
    1 Chinese e-buses command nearly 40% share in Korea, e-truck to arrive H2 Over the previous few years, Chinese electric buses have successfully invaded the South Korean electric bus market, capturing about 40% of the market. South Korea This would enhance better Technological Controls
    2 Hyundai Motor’s electric bus catches fire in South Korea In South Korea, an electric bus produced by Hyundai Motor Co caught fire while in use. South Korea This would enhance better Technological Controls
    3 Seoul ramps up efforts to transition to electric transportation By 2025, the Seoul Metropolitan Government hopes to have 270,000 electric vehicles on the road for public transportation. South Korea This would enhance better Technological Controls
    4 S.Korea to acquire 624 H2 fuel cell buses by 2025 The port cities of Busan and Ulsan, as well as the province of South Gyeongsang, will receive 624 hydrogen buses. South Korea This would enhance better Technological Controls

     

    COMPETITIVE LANDSCAPE

    One of the primary factors driving the growth of the South Korean electric bus market is the country’s fast rising urbanisation, which necessitates improvements in public transportation, as well as a well-coordinated government plan to electrify public transportation.

     

    South Korea’s government has set aside $609 million in subsidies for battery electric vehicles and the building of charging infrastructure in 2020, which is expected to help the electric bus market grow.

     

    Hyundai Trucks and Bus is a leading mobiliser of the various explorer oriented electric vehicle manufacturer requirements in the market. HMC’s zero-emission buses seems to be the result of its designers’ never-ending quest for commercial trucks that are practical, reliable, and unique.

     

    This breakthrough, which is in line with the era of smart globalisation, embodies the exquisite mix of CV engineers’ experience and expertise. With its modern design that is equivalent to that of advanced countries, the new model, Elec City, has re-established the character of modern mass transit. It also hints to Hyundai’s plans and mind-set.

     

    BYD Inc. has been one of the most advanced solution provider in the used car requirements. The State-of-the-art batteries, controllers, and motors are among 6F’s core competencies. BYD develops, tests, and manufactures these fundamental technologies as a complete system.

     

    The BYD 6F is able to reach the highest standard of achievement, endurance, and dependability because of this. The integrated software for superior performance in medium-duty applications optimises power and torque.

     

    The BYD 6F, when combined with BYD’s superior battery chemistry, has more than enough energy to work for the full day while emitting zero emissions.

    COMPANIES PROFILED

     

    Sl no Topic
    1 Market Segmentation
    2 Scope of the report
    3 Abbreviations
    4 Research Methodology
    5 Executive Summary
    6 Introduction
    7 Insights from Industry stakeholders
    8 Cost breakdown of Product by sub-components and average profit margin
    9 Disruptive innovation in the Industry
    10 Technology trends in the Industry
    11 Consumer trends in the industry
    12 Recent Production Milestones
    13 Component Manufacturing in US, EU and China
    14 COVID-19 impact on overall market
    15 COVID-19 impact on Production of components
    16 COVID-19 impact on Point of sale
    17 Market Segmentation, Dynamics and Forecast by Geography, 2022-2027
    18 Market Segmentation, Dynamics and Forecast by Product Type, 2022-2027
    19 Market Segmentation, Dynamics and Forecast by Application, 2022-2027
    20 Market Segmentation, Dynamics and Forecast by End use, 2022-2027
    21 Product installation rate by OEM, 2022
    22 Incline/Decline in Average B-2-B selling price in past 5 years
    23 Competition from substitute products
    24 Gross margin and average profitability of suppliers
    25 New product development in past 12 months
    26 M&A in past 12 months
    27 Growth strategy of leading players
    28 Market share of vendors, 2022
    29 Company Profiles
    30 Unmet needs and opportunity for new suppliers
    31 Conclusion
    32 Appendix

     

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