South Korea E-bike Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029

The South Korea E-bike Market is segmented by Propulsion Type (Pedal Assisted, Speed Pedelec, Throttle Assisted), by Application Type (Cargo/Utility, City/Urban, Trekking) and by Battery Type (Lead Acid Battery, Lithium-ion Battery, Others). Market Volume in Units and Market Value in USD is presented. Key data points observed include the number of e-bike sold by propulsion, application type for each propulsion type; and, battery type for each propulsion type.

South Korea E-bike Market Size

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South Korea E-bike Market Summary
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Icons Lable Value
https://s3.mordorintelligence.com/study%20period/1629296433432_test~study_period_study_period.svg Study Period 2017 - 2029
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg Market Size (2024) USD 90.34 Million
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg Market Size (2029) USD 149.93 Million
https://s3.mordorintelligence.com/hydraulic_fluids/1629285650767_test~hydraulic_fluids_hydraulic_fluids.svg Largest Share by Propulsion Type Pedal Assisted
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg CAGR (2024 - 2029) 10.66 %
https://s3.mordorintelligence.com/hydraulic_fluids/1629285650767_test~hydraulic_fluids_hydraulic_fluids.svg Fastest Growing by Propulsion Type Speed Pedelec

Major Players

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*Disclaimer: Major Players sorted in alphabetical order.

Key Players

WHY BUY FROM US?

1. CRISP & INSIGHTFUL
2. TRUE BOTTOM-UP
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4. TRANSPARENCY
5. CONVENIENCE

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South Korea E-bike Market Analysis

The South Korea E-bike Market size is estimated at USD 90.34 million in 2024, and is expected to reach USD 149.93 million by 2029, growing at a CAGR of 10.66% during the forecast period (2024-2029).

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90.34 Million

Market Size in 2024 (USD)

149.93 Million

Market Size in 2029 (USD)

32.94 %

CAGR (2017-2023)

10.66 %

CAGR (2024-2029)

Largest Segment by Propulsion Type

80.41 %

value share, Pedal Assisted , 2022

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Pedal-assisted is the largest segment as these bikes are means of transportation for daily commuters. These bikes also help people maintain good health, save money on gasoline, and choose cleaner journeys.

Largest Segment by Application Type

78.25 %

value share, City/Urban , 2022

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City/Urban is the largest segment, as these bikes are one of the common modes of daily commuting in South Korea. Using bicycles for deliveries also adds to the growth.

Largest Segment by Battery Type

89.85 %

value share, Lithium-ion Battery , 2022

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Lithium batteries are the largest battery type due to their high usage as they are lightweight, have better range and quick charging capabilities, and are durable.

Fastest-Growing Segment by Propulsion Type

13.73 %

Projected CAGR, Speed Pedelec , 2023-2029

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The adoption of high-speed bikes to avoid traffic conditions, which saves time and cost, makes speed pedelec the most popular and fastest-growing segment by propulsion type.

Leading Market Player

1.04 %

market share, Samchuly Bicycle , 2022

Icon image

Well established brand image, strong product portfolio offering, easy availability of product due to large supply chain network has made Giant Bicycle the largest player in South Korea E bike market.

PROPULSION SEGMENT MARKET OVERVIEW

  • In South Korea, the primary growth drivers of the e-bike market include increased health consciousness among individuals, growing environmental concerns, increased traffic congestion, and rising government initiatives promoting cycling.
  • The demand for bicycles in the country was positively impacted during the COVID-19 pandemic. Bicycles are used for daily commutes, sports, fitness, and hiking activities. Demand is mainly driven by the growing awareness of the health benefits of cycling. Vehicles that are safer, more comfortable, and more eco-friendly are in high demand, which may encourage associated businesses to develop a range of innovative peddle-assisted bicycles. The emergence of shared mobility businesses boosted the demand for such vehicles for daily commuting.
  • Growing environmental awareness, increased traffic congestion, increased health consciousness, and growing cycling promotion programs by the government are the main growth factors in the industry. On the other hand, as South Korea's fuel prices and traffic congestion continue to rise, the government and its citizens are turning toward electric mobility. Pedal-assisted bicycles are better suited for shorter rides. However, speed pedelecs will likely become a better choice for longer distances. Although these bikes have diverse functions, they are cost-effective, reduce pollution, and make transportation easier. The South Korean e-bike market may grow in the next few years.
South Korea E-bike Market

South Korea E-bike Market Trends

Consumers Opting for Convenient and Time-Saving Vehicles

  •  The South Korean e-bike market is mainly driven by the application of e-bikes in micro-mobility services. The use of micro-mobility services has grown strongly since 2018 due to the high availability, low pricing, ease of functioning of such services, and less vandalism. Micro-mobility offers a low-cost travel option, attracting commuters. For instance, the average per-km cost of a micro-mobility service in the country is USD 0.15, compared to USD 1 for a car ride booked via a mobility-as-a-service (MaaS) platform. The low-cost commute option is motivating consumers to choose a suitable micro-mobility mode for first- and last-mile connectivity.
  • During the COVID-19 pandemic, bicycle usage among people rose by more than 65% in Seoul as commuters avoided public transportation due to fear of transmission, thus boosting the market for e-bikes in South Korea. The number of bike-sharing firms has grown in recent years with the growing need for last-mile connectivity, particularly in metropolitan areas. Many well-known venture capitalists and manufacturers are investing in micro-mobility businesses, allowing service providers to expand their operations. Lime, Wind Mobility, and Beam Mobility are among the major micro-mobility businesses that garnered significant investment. Sequoia Capital, SoftBank Vision Fund, and DST Global are among the leading venture capitalists investing in start-ups. 
South Korea E-bike Market

Favourable Impact of Covid-19 on the Bicycle industry

  • The demand for bicycles in the country is gradually growing. However, the number of people commuting a distance of 5-15 km is still relatively low as most people prefer to travel via buses and other modes of transport. In 2019, fewer people chose to commute via bicycles within 5-15 km. However, in 2020, the number of people using bicycles to commute 5-15 km increased as they started exercising and going to nearby places, such as markets, during the pandemic-induced lockdown. Such factors increased the demand for bicycles in South Korea in 2020.
  • The restrictions and lockdowns imposed to combat the COVID-19 pandemic positively impacted bicycle sales due to people's avoidance of public transportation and rental services, which increased the demand for bicycles. People started using bicycles to travel short distances, due to which the country witnessed a significant increase in the number of commuters traveling a distance of 5-15 km in 2021.
  • Currently, many people are using bicycles to commute 5-15 km to their workplaces and markets. The number of people commuting to work by bicycle increased in 2022. It is expected to continue to increase during the forecast period, further boosting improvements in bicycle infrastructure and bicycle lanes in South Korea.
South Korea E-bike Market

OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT

  • Factors Contributing to Bicycle Growth
  • Fluctuation in Inflation Rate and Its Effects
  • Investments in Various Battery Projects
  • Government Efforts to Improve Bicycle infrastructure may increase the Use of Bicycles
  • Battery Advancement Major Growth Factor for Bicycle Sales
  • GDP per Capita's Role in the Bicycle industry
  • Growing Preference for Bicycles
  • Advancements in E-Bikes and New Product Launches
  • Rising Bicycling Events are Attributed to Growth in the Bicycle Trekkers
  • Rising interest of People toward Pollution-Free Vehicles

South Korea E-bike Industry Overview

The South Korea E-bike Market is fragmented, with the top five companies occupying 3.81%. The major players in this market are Alton Sports Co. Ltd, Myvelo Co. Ltd, Samchuly Bicycle, Swagtron and VanMoof (sorted alphabetically).

South Korea E-bike Market Leaders

  1. Alton Sports Co. Ltd

  2. Myvelo Co. Ltd

  3. Samchuly Bicycle

  4. Swagtron

  5. VanMoof

South Korea E-bike Market Concentration

Other important companies include Ancheer, Giant Manufacturing Co., Niner Bikes, Riese & Müller, Trek Bicycle Corporation.

*Disclaimer: Major Players sorted in alphabetical order.

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South Korea E-bike Market News

  • December 2022: Alton Sports contracts with Kakao Mobility to supply 16.8 billion electric bicycles.
  • December 2022: Alton Sports Wins 17 Billion Won Order.
  • August 2022: VanMoof released S3 Aluminum, a streamlined, high-end e-bike. It includes raw welding and a brushed metal frame.

Free with this Report

We offer a comprehensive and complimentary collection of data points on regional and country-level metrics, crucial to understanding the industry's core structure. Our resources include over 120 free charts, providing rare data across various countries. This collection encompasses an analysis of e-bike outlets, distribution channels, and their geographical distribution, examination of average selling prices for different e-bike models across regions, insights into consumer preferences and purchasing patterns, a detailed segmentation of the market, comprehensive insights into market trends and environmental impacts, an overview of key market players, an examination of the regulatory landscape, and projections for the future of the e-bike market.

South Korea E-bike Market
South Korea E-bike Market
South Korea E-bike Market
South Korea E-bike Market

South Korea E-bike Market Report - Table of Contents

  1. EXECUTIVE SUMMARY & KEY FINDINGS

  2. REPORT OFFERS

  3. 1. INTRODUCTION

    1. 1.1. Study Assumptions & Market Definition

    2. 1.2. Scope of the Study​

    3. 1.3. Research Methodology

  4. 2. KEY INDUSTRY TRENDS

    1. 2.1. Bicycle Sales

    2. 2.2. GDP Per Capita

    3. 2.3. Inflation Rate

    4. 2.4. Adoption Rate Of E-Bikes

    5. 2.5. Percent Population/Commuters With 5-15 Km Daily Travel Distance

    6. 2.6. Bicycle Rental

    7. 2.7. E-Bike Battery Price

    8. 2.8. Price Chart Of Different Battery Chemistry

    9. 2.9. Hyper-Local Delivery

    10. 2.10. Dedicated Bicycle Lanes

    11. 2.11. Number Of Trekkers

    12. 2.12. Battery Charging Capacity

    13. 2.13. Traffic Congestion Index

    14. 2.14. Regulatory Framework

    15. 2.15. Value Chain & Distribution Channel Analysis

  5. 3. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2029 and analysis of growth prospects)

    1. 3.1. Propulsion Type

      1. 3.1.1. Pedal Assisted

      2. 3.1.2. Speed Pedelec

      3. 3.1.3. Throttle Assisted

    2. 3.2. Application Type

      1. 3.2.1. Cargo/Utility

      2. 3.2.2. City/Urban

      3. 3.2.3. Trekking

    3. 3.3. Battery Type

      1. 3.3.1. Lead Acid Battery

      2. 3.3.2. Lithium-ion Battery

      3. 3.3.3. Others

  6. 4. COMPETITIVE LANDSCAPE

    1. 4.1. Key Strategic Moves

    2. 4.2. Market Share Analysis

    3. 4.3. Company Landscape

    4. 4.4. Company Profiles

      1. 4.4.1. Alton Sports Co. Ltd

      2. 4.4.2. Ancheer

      3. 4.4.3. Giant Manufacturing Co.

      4. 4.4.4. Myvelo Co. Ltd

      5. 4.4.5. Niner Bikes

      6. 4.4.6. Riese & Müller

      7. 4.4.7. Samchuly Bicycle

      8. 4.4.8. Swagtron

      9. 4.4.9. Trek Bicycle Corporation

      10. 4.4.10. VanMoof

  7. 5. KEY STRATEGIC QUESTIONS FOR E BIKES CEOS

  8. 6. APPENDIX

    1. 6.1. Global Overview

      1. 6.1.1. Overview

      2. 6.1.2. Porter’s Five Forces Framework

      3. 6.1.3. Global Value Chain Analysis

      4. 6.1.4. Market Dynamics (DROs)

    2. 6.2. Sources & References

    3. 6.3. List of Tables & Figures

    4. 6.4. Primary Insights

    5. 6.5. Data Pack

    6. 6.6. Glossary of Terms

List of Tables & Figures

  1. Figure 1:  
  2. SOUTH KOREA E-BIKE MARKET, BICYCLE SALES, VOLUME, THOUSAND UNITS, 2017 - 2029
  1. Figure 2:  
  2. SOUTH KOREA E-BIKE MARKET, GDP PER CAPITA, VALUE, USD, 2017 - 2029
  1. Figure 3:  
  2. SOUTH KOREA E-BIKE MARKET, INFLATION RATE, VALUE, PERCENT, 2017 - 2029
  1. Figure 4:  
  2. SOUTH KOREA E-BIKE MARKET, ADOPTION RATE, VOLUME, PERCENT, 2017 - 2029
  1. Figure 5:  
  2. SOUTH KOREA E-BIKE MARKET, COMMUTERS WITH 5-15 KM TRAVEL DISTANCE, VOLUME, PERCENT, 2017 - 2029
  1. Figure 6:  
  2. SOUTH KOREA E-BIKE MARKET, BICYCLE RENTAL, VALUE, USD MILLION, 2017 - 2029
  1. Figure 7:  
  2. SOUTH KOREA E-BIKE MARKET, E-BIKE BATTERY PRICE, VALUE, USD, 2017 - 2029
  1. Figure 8:  
  2. SOUTH KOREA E-BIKE MARKET, PRICE CHART OF DIFFERENT BATTERY CHEMISTRY, VALUE, USD, 2017 - 2029
  1. Figure 9:  
  2. SOUTH KOREA E-BIKE MARKET, HYPER-LOCAL DELIVERY, VOLUME, THOUSAND UNITS, 2017 - 2029
  1. Figure 10:  
  2. SOUTH KOREA E-BIKE MARKET, DEDICATED BICYCLE LANES, VOLUME, THOUSAND UNITS, 2017 - 2029
  1. Figure 11:  
  2. SOUTH KOREA E-BIKE MARKET, NUMBER OF TREKKERS, VOLUME, THOUSAND UNITS, 2017 - 2029
  1. Figure 12:  
  2. SOUTH KOREA E-BIKE MARKET, BATTERY CHARGING CAPACITY, VOLUME, UNITS, 2017 - 2029
  1. Figure 13:  
  2. SOUTH KOREA E-BIKE MARKET, TRAFFIC CONGESTION INDEX, VOLUME, PERCENT, 2017 - 2022
  1. Figure 14:  
  2. SOUTH KOREA E-BIKE MARKET, VOLUME, UNITS, 2017 - 2029
  1. Figure 15:  
  2. SOUTH KOREA E-BIKE MARKET, VALUE, USD MILLION, 2017 - 2029
  1. Figure 16:  
  2. SOUTH KOREA E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029
  1. Figure 17:  
  2. SOUTH KOREA E-BIKE MARKET, BY PROPULSION TYPE, VALUE, USD MILLION, 2017 - 2029
  1. Figure 18:  
  2. SOUTH KOREA E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, SHARE (%), 2017 - 2029
  1. Figure 19:  
  2. SOUTH KOREA E-BIKE MARKET, BY PROPULSION TYPE, VALUE, SHARE (%), 2017 - 2029
  1. Figure 20:  
  2. SOUTH KOREA E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029
  1. Figure 21:  
  2. SOUTH KOREA E-BIKE MARKET, BY PROPULSION TYPE, VALUE, USD MILLION, 2017 - 2029
  1. Figure 22:  
  2. SOUTH KOREA E-BIKE MARKET, BY PROPULSION TYPE, VALUE SHARE (%), 2022 - 2029
  1. Figure 23:  
  2. SOUTH KOREA E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029
  1. Figure 24:  
  2. SOUTH KOREA E-BIKE MARKET, BY PROPULSION TYPE, VALUE, USD MILLION, 2017 - 2029
  1. Figure 25:  
  2. SOUTH KOREA E-BIKE MARKET, BY PROPULSION TYPE, VALUE SHARE (%), 2022 - 2029
  1. Figure 26:  
  2. SOUTH KOREA E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029
  1. Figure 27:  
  2. SOUTH KOREA E-BIKE MARKET, BY PROPULSION TYPE, VALUE, USD MILLION, 2017 - 2029
  1. Figure 28:  
  2. SOUTH KOREA E-BIKE MARKET, BY PROPULSION TYPE, VALUE SHARE (%), 2022 - 2029
  1. Figure 29:  
  2. SOUTH KOREA E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, UNITS, 2017 - 2029
  1. Figure 30:  
  2. SOUTH KOREA E-BIKE MARKET, BY APPLICATION TYPE, VALUE, USD MILLION, 2017 - 2029
  1. Figure 31:  
  2. SOUTH KOREA E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, SHARE (%), 2017 - 2029
  1. Figure 32:  
  2. SOUTH KOREA E-BIKE MARKET, BY APPLICATION TYPE, VALUE, SHARE (%), 2017 - 2029
  1. Figure 33:  
  2. SOUTH KOREA E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, UNITS, 2017 - 2029
  1. Figure 34:  
  2. SOUTH KOREA E-BIKE MARKET, BY APPLICATION TYPE, VALUE, USD MILLION, 2017 - 2029
  1. Figure 35:  
  2. SOUTH KOREA E-BIKE MARKET, BY APPLICATION TYPE, VALUE SHARE (%), 2022 - 2029
  1. Figure 36:  
  2. SOUTH KOREA E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, UNITS, 2017 - 2029
  1. Figure 37:  
  2. SOUTH KOREA E-BIKE MARKET, BY APPLICATION TYPE, VALUE, USD MILLION, 2017 - 2029
  1. Figure 38:  
  2. SOUTH KOREA E-BIKE MARKET, BY APPLICATION TYPE, VALUE SHARE (%), 2022 - 2029
  1. Figure 39:  
  2. SOUTH KOREA E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, UNITS, 2017 - 2029
  1. Figure 40:  
  2. SOUTH KOREA E-BIKE MARKET, BY APPLICATION TYPE, VALUE, USD MILLION, 2017 - 2029
  1. Figure 41:  
  2. SOUTH KOREA E-BIKE MARKET, BY APPLICATION TYPE, VALUE SHARE (%), 2022 - 2029
  1. Figure 42:  
  2. SOUTH KOREA E-BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029
  1. Figure 43:  
  2. SOUTH KOREA E-BIKE MARKET, BY BATTERY TYPE, VALUE, USD MILLION, 2017 - 2029
  1. Figure 44:  
  2. SOUTH KOREA E-BIKE MARKET, BY BATTERY TYPE, VOLUME, SHARE (%), 2017 - 2029
  1. Figure 45:  
  2. SOUTH KOREA E-BIKE MARKET, BY BATTERY TYPE, VALUE, SHARE (%), 2017 - 2029
  1. Figure 46:  
  2. SOUTH KOREA E-BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029
  1. Figure 47:  
  2. SOUTH KOREA E-BIKE MARKET, BY BATTERY TYPE, VALUE, USD MILLION, 2017 - 2029
  1. Figure 48:  
  2. SOUTH KOREA E-BIKE MARKET, BY BATTERY TYPE, VALUE SHARE (%), 2022 - 2029
  1. Figure 49:  
  2. SOUTH KOREA E-BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029
  1. Figure 50:  
  2. SOUTH KOREA E-BIKE MARKET, BY BATTERY TYPE, VALUE, USD MILLION, 2017 - 2029
  1. Figure 51:  
  2. SOUTH KOREA E-BIKE MARKET, BY BATTERY TYPE, VALUE SHARE (%), 2022 - 2029
  1. Figure 52:  
  2. SOUTH KOREA E-BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029
  1. Figure 53:  
  2. SOUTH KOREA E-BIKE MARKET, BY BATTERY TYPE, VALUE, USD MILLION, 2017 - 2029
  1. Figure 54:  
  2. SOUTH KOREA E-BIKE MARKET, BY BATTERY TYPE, VALUE SHARE (%), 2022 - 2029
  1. Figure 55:  
  2. SOUTH KOREA E-BIKE MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2018 - 2021
  1. Figure 56:  
  2. SOUTH KOREA E-BIKE MARKET, MOST ADOPTED STRATEGIES, 2018 - 2021
  1. Figure 57:  
  2. SOUTH KOREA E-BIKE MARKET SHARE(%), BY MAJOR PLAYERS, 2022

South Korea E-bike Industry Segmentation

Pedal Assisted, Speed Pedelec, Throttle Assisted are covered as segments by Propulsion Type. Cargo/Utility, City/Urban, Trekking are covered as segments by Application Type. Lead Acid Battery, Lithium-ion Battery, Others are covered as segments by Battery Type.

  • In South Korea, the primary growth drivers of the e-bike market include increased health consciousness among individuals, growing environmental concerns, increased traffic congestion, and rising government initiatives promoting cycling.
  • The demand for bicycles in the country was positively impacted during the COVID-19 pandemic. Bicycles are used for daily commutes, sports, fitness, and hiking activities. Demand is mainly driven by the growing awareness of the health benefits of cycling. Vehicles that are safer, more comfortable, and more eco-friendly are in high demand, which may encourage associated businesses to develop a range of innovative peddle-assisted bicycles. The emergence of shared mobility businesses boosted the demand for such vehicles for daily commuting.
  • Growing environmental awareness, increased traffic congestion, increased health consciousness, and growing cycling promotion programs by the government are the main growth factors in the industry. On the other hand, as South Korea's fuel prices and traffic congestion continue to rise, the government and its citizens are turning toward electric mobility. Pedal-assisted bicycles are better suited for shorter rides. However, speed pedelecs will likely become a better choice for longer distances. Although these bikes have diverse functions, they are cost-effective, reduce pollution, and make transportation easier. The South Korean e-bike market may grow in the next few years.
Propulsion Type
Pedal Assisted
Speed Pedelec
Throttle Assisted
Application Type
Cargo/Utility
City/Urban
Trekking
Battery Type
Lead Acid Battery
Lithium-ion Battery
Others
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Market Definition

  • By Application Type - E-bikes considered under this segment include city/urban, trekking, and cargo/utility e-bikes. The common types of e-bikes under these three categories include off-road/hybrid, kids, ladies/gents, cross, MTB, folding, fat tire, and sports e-bike.
  • By Battery Type - This segment includes lithium-ion batteries, lead-acid batteries, and other battery types. The other battery type category includes nickel-metal hydroxide (NiMH), silicon, and lithium-polymer batteries.
  • By Propulsion Type - E-bikes considered under this segment include pedal-assisted e-bikes, throttle-assisted e-bikes, and speed pedelec. While the speed limit of pedal and throttle-assisted e-bikes is usually 25 km/h, the speed limit of speed pedelec is generally 45 km/h (28 mph).
Keyword Definition
Pedal Assisted Pedal-assist or pedelec category refers to the electric bikes that provide limited power assistance through torque-assist system and do not have throttle for varying the speed. The power from the motor gets activated upon pedaling in these bikes and reduces human efforts.
Throttle Assisted Throttle-based e-bikes are equipped with the throttle assistance grip, installed on the handlebar, similarly to motorbikes. The speed can be controlled by twisting the throttle directly without the need to pedal. The throttle response directly provides power to the motor installed in the bicycles and speeds up the vehicle without paddling.
Speed Pedelec Speed pedelec is e-bikes similar to pedal-assist e-bikes as they do not have throttle functionality. However, these e-bikes are integrated with an electric motor which delivers power of approximately 500 W and more. The speed limit of such e-bikes is generally 45 km/h (28 mph) in most of the countries.
City/Urban The city or urban e-bikes are designed with daily commuting standards and functions to be operated within the city and urban areas. The bicycles include various features and specifications such as comfortable seats, sit upright riding posture, tires for easy grip and comfortable ride, etc.
Trekking Trekking and mountain bikes are special types of e-bikes that are designed for special purposes considering the robust and rough usage of the vehicles. These bicycles include a strong frame, and wide tires for better and advanced grip and are also equipped with various gear mechanisms which can be used while riding in different terrains, rough grounded, and tough mountainous roads.
Cargo/Utility The e-cargo or utility e-bikes are designed to carry various types of cargo and packages for shorter distances such as within urban areas. These bikes are usually owned by local businesses and delivery partners to deliver packages and parcels at very low operational costs.
Lithium-ion Battery A Li-ion battery is a rechargeable battery, which uses lithium and carbon as its constituent materials. The Li-Ion batteries have a higher density and lesser weight than sealed lead acid batteries and provide the rider with more range per charge than other types of batteries.
Lead Acid Battery A lead acid battery refers to sealed lead acid battery having a very low energy-to-weight and energy-to-volume ratio. The battery can produce high surge currents, owing to its relatively high power-to-weight ratio as compared to other rechargeable batteries.
Other Batteries This includes electric bikes using nickel–metal hydroxide (NiMH), silicon, and lithium-polymer batteries.
Business-to-Business (B2B) The sales of e-bikes to business customers such as urban fleet and logistics company, rental/sharing operators, last-mile fleet operators, and corporate fleet operators are considered under this category.
Business-to-Customers (B2C) The sales of electric scooters and motorcycles to direct consumers is considered under this category. The consumers acquire these vehicles either directly from manufacturers or from other distributers and dealers through online and offline channel.
Unorganized Local OEMs These players are small local manufacturers and assemblers of e-bikes. Most of these manufacturers import the components from China and Taiwan and assemble them locally. They offer the product at low cost in this price sensitive market which give them advantage over organized manufacturers.
Battery-as-a-Service A business model in which the battery of an EV can be rented from a service provider or swapped with another battery when it runs out of charge
Dockless e-Bikes Electric bikes that have self-locking mechanisms and a GPS tracking facility with an average top speed of around 15mph. These are mainly used by bike-sharing companies such as Bird, Lime, and Spin.
Electric Vehicle A vehicle which uses one or more electric motors for propulsion. Includes cars, scooters, buses, trucks, motorcycles, and boats. This term includes all-electric vehicles and hybrid electric vehicles
Plug-in EV An electric vehicle that can be externally charged and generally includes all-electric vehicles as well as plug-in hybrids. In this report we use the term for all-electric vehicles to differentiate them from plug-in hybrid electric vehicles.
Lithium-Sulphur Battery A rechargeable battery that replaces the liquid or polymer electrolyte found in current lithium-ion batteries with sulfur. They have more capacity than Li-ion batteries.
Micromobility Micromobility is one of the many modes of transport involving very-light-duty vehicles to travel short distances. These means of transportation include bikes, e-scooters, e-bikes, mopeds, and scooters. Such vehicles are used on a sharing basis for covering short distances, usually five miles or less.
Low Speed Electric Vehicls (LSEVs) They are low speed (usually less than 25 kmph) light vehicles that do not have an internal combustion engine, and solely use electric energy for propulsion.
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Research Methodology

Mordor Intelligence follows a four-step methodology in all its reports.

  • Step-1: Identify Key Variables: To build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built based on these variables.
  • Step-2: Build a Market Model: Market-size estimations for the historical and forecast years have been provided in revenue and volume terms. Market revenue is calculated by multiplying the volume demand with volume-weighted average battery pack price (per kWh). Battery pack price estimation and forecast takes into account various factors affecting ASP, such as inflation rates, market demand shifts, production costs, technological developments, and consumer preferences, providing estimations for both historical data and future trends.
  • Step-3: Validate and Finalize: In this important step, all market numbers, variables, and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
  • Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms
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South Korea E-bike Market Research FAQs

The South Korea E-bike Market size is expected to reach USD 90.34 million in 2024 and grow at a CAGR of 10.66% to reach USD 149.93 million by 2029.

In 2024, the South Korea E-bike Market size is expected to reach USD 90.34 million.

Alton Sports Co. Ltd, Myvelo Co. Ltd, Samchuly Bicycle, Swagtron and VanMoof are the major companies operating in the South Korea E-bike Market.

In the South Korea E-bike Market, the Pedal Assisted segment accounts for the largest share by propulsion type.

In 2024, the Speed Pedelec segment accounts for the fastest growing by propulsion type in the South Korea E-bike Market.

In 2023, the South Korea E-bike Market size was estimated at USD 78.91 million. The report covers the South Korea E-bike Market historical market size for years: 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the South Korea E-bike Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

South Korea E-bike Industry Report

Statistics for the 2024 South Korea E-bike market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. South Korea E-bike analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

South Korea E-bike Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029