South Korea E-bike Market - SIZE, SHARE, COVID-19 IMPACT & 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 )

South Korea E-bike Market Size

South Korea E-bike Market Summary
https://s3.mordorlabs.com/study%20period/1629296433432_test~study_period_study_period.svg Study Period: 2017 - 2029
https://s3.mordorlabs.com/hydraulic_fluids/1629285650767_test~hydraulic_fluids_hydraulic_fluids.svg Largest Share by Propulsion Type: Pedal Assisted
https://s3.mordorlabs.com/hydraulic_fluids/1629285650767_test~hydraulic_fluids_hydraulic_fluids.svg Fastest Growing by Propulsion Type: Speed Pedelec
https://s3.mordorlabs.com/cagr/1629296433433_test~cagr_cagr.svg CAGR: 4.59 %

Major Players

major-player-company-image major-player-company-image major-player-company-image major-player-company-image

*Disclaimer: Major Players sorted in no particular order

Key Players

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South Korea E-bike Market Analysis

The South Korea E-bike Market is projected to register a CAGR of 4.59%

  • Largest Segment by Propulsion Type - Pedal Assisted : 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 - City/Urban : 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 - Lithium-ion Battery : 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 - Speed Pedelec : 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.

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.
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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South Korea E-bike Market Trends

This section covers the major market trends shaping the South Korea E-bike Market according to our research experts:

Pedal Assisted is the largest segment by Propulsion 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.
South Korea E-bike Market: South Korea E-bike Market, CAGR, %, By Propulsion Type, 2023 - 2029

South Korea E-bike Industry Overview

The South Korea E-bike Market is fragmented, with the top five companies occupying 30.00%. 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

*Disclaimer: Major Players sorted in no particular order

South Korea E-bike Market Concentration

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.

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

    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

    Figure 1:  

    SOUTH KOREA E-BIKE MARKET, BICYCLE SALES, VOLUME, THOUSAND UNITS, 2017 - 2029

    Figure 2:  

    SOUTH KOREA E-BIKE MARKET, GDP PER CAPITA, VALUE, USD, 2017 - 2029

    Figure 3:  

    SOUTH KOREA E-BIKE MARKET, INFLATION RATE, VALUE, PERCENT, 2017 - 2029

    Figure 4:  

    SOUTH KOREA E-BIKE MARKET, ADOPTION RATE, VOLUME, PERCENT, 2017 - 2029

    Figure 5:  

    SOUTH KOREA E-BIKE MARKET, COMMUTERS WITH 5-15 KM TRAVEL DISTANCE, VOLUME, PERCENT, 2017 - 2029

    Figure 6:  

    SOUTH KOREA E-BIKE MARKET, BICYCLE RENTAL, VALUE, USD MILLION, 2017 - 2029

    Figure 7:  

    SOUTH KOREA E-BIKE MARKET, E-BIKE BATTERY PRICE, VALUE, USD, 2017 - 2029

    Figure 8:  

    SOUTH KOREA E-BIKE MARKET, PRICE CHART OF DIFFERENT BATTERY CHEMISTRY, VALUE, USD, 2017 - 2029

    Figure 9:  

    SOUTH KOREA E-BIKE MARKET, HYPER-LOCAL DELIVERY, VOLUME, THOUSAND UNITS, 2017 - 2029

    Figure 10:  

    SOUTH KOREA E-BIKE MARKET, DEDICATED BICYCLE LANES, VOLUME, THOUSAND UNITS, 2017 - 2029

    Figure 11:  

    SOUTH KOREA E-BIKE MARKET, NUMBER OF TREKKERS, VOLUME, THOUSAND UNITS, 2017 - 2029

    Figure 12:  

    SOUTH KOREA E-BIKE MARKET, BATTERY CHARGING CAPACITY, VOLUME, UNITS, 2017 - 2029

    Figure 13:  

    SOUTH KOREA E-BIKE MARKET, TRAFFIC CONGESTION INDEX, VOLUME, PERCENT, 2017 - 2022

    Figure 14:  

    SOUTH KOREA E-BIKE MARKET, VOLUME, UNITS, 2017 - 2029

    Figure 15:  

    SOUTH KOREA E-BIKE MARKET, VALUE, USD MILLION, 2017 - 2029

    Figure 16:  

    SOUTH KOREA E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029

    Figure 17:  

    SOUTH KOREA E-BIKE MARKET, BY PROPULSION TYPE, VALUE, USD MILLION, 2017 - 2029

    Figure 18:  

    SOUTH KOREA E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, SHARE (%), 2017 - 2029

    Figure 19:  

    SOUTH KOREA E-BIKE MARKET, BY PROPULSION TYPE, VALUE, SHARE (%), 2017 - 2029

    Figure 20:  

    SOUTH KOREA E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029

    Figure 21:  

    SOUTH KOREA E-BIKE MARKET, BY PROPULSION TYPE, VALUE, USD MILLION, 2017 - 2029

    Figure 22:  

    SOUTH KOREA E-BIKE MARKET, BY PROPULSION TYPE, VALUE SHARE (%), 2022 - 2029

    Figure 23:  

    SOUTH KOREA E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029

    Figure 24:  

    SOUTH KOREA E-BIKE MARKET, BY PROPULSION TYPE, VALUE, USD MILLION, 2017 - 2029

    Figure 25:  

    SOUTH KOREA E-BIKE MARKET, BY PROPULSION TYPE, VALUE SHARE (%), 2022 - 2029

    Figure 26:  

    SOUTH KOREA E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029

    Figure 27:  

    SOUTH KOREA E-BIKE MARKET, BY PROPULSION TYPE, VALUE, USD MILLION, 2017 - 2029

    Figure 28:  

    SOUTH KOREA E-BIKE MARKET, BY PROPULSION TYPE, VALUE SHARE (%), 2022 - 2029

    Figure 29:  

    SOUTH KOREA E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, UNITS, 2017 - 2029

    Figure 30:  

    SOUTH KOREA E-BIKE MARKET, BY APPLICATION TYPE, VALUE, USD MILLION, 2017 - 2029

    Figure 31:  

    SOUTH KOREA E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, SHARE (%), 2017 - 2029

    Figure 32:  

    SOUTH KOREA E-BIKE MARKET, BY APPLICATION TYPE, VALUE, SHARE (%), 2017 - 2029

    Figure 33:  

    SOUTH KOREA E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, UNITS, 2017 - 2029

    Figure 34:  

    SOUTH KOREA E-BIKE MARKET, BY APPLICATION TYPE, VALUE, USD MILLION, 2017 - 2029

    Figure 35:  

    SOUTH KOREA E-BIKE MARKET, BY APPLICATION TYPE, VALUE SHARE (%), 2022 - 2029

    Figure 36:  

    SOUTH KOREA E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, UNITS, 2017 - 2029

    Figure 37:  

    SOUTH KOREA E-BIKE MARKET, BY APPLICATION TYPE, VALUE, USD MILLION, 2017 - 2029

    Figure 38:  

    SOUTH KOREA E-BIKE MARKET, BY APPLICATION TYPE, VALUE SHARE (%), 2022 - 2029

    Figure 39:  

    SOUTH KOREA E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, UNITS, 2017 - 2029

    Figure 40:  

    SOUTH KOREA E-BIKE MARKET, BY APPLICATION TYPE, VALUE, USD MILLION, 2017 - 2029

    Figure 41:  

    SOUTH KOREA E-BIKE MARKET, BY APPLICATION TYPE, VALUE SHARE (%), 2022 - 2029

    Figure 42:  

    SOUTH KOREA E-BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029

    Figure 43:  

    SOUTH KOREA E-BIKE MARKET, BY BATTERY TYPE, VALUE, USD MILLION, 2017 - 2029

    Figure 44:  

    SOUTH KOREA E-BIKE MARKET, BY BATTERY TYPE, VOLUME, SHARE (%), 2017 - 2029

    Figure 45:  

    SOUTH KOREA E-BIKE MARKET, BY BATTERY TYPE, VALUE, SHARE (%), 2017 - 2029

    Figure 46:  

    SOUTH KOREA E-BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029

    Figure 47:  

    SOUTH KOREA E-BIKE MARKET, BY BATTERY TYPE, VALUE, USD MILLION, 2017 - 2029

    Figure 48:  

    SOUTH KOREA E-BIKE MARKET, BY BATTERY TYPE, VALUE SHARE (%), 2022 - 2029

    Figure 49:  

    SOUTH KOREA E-BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029

    Figure 50:  

    SOUTH KOREA E-BIKE MARKET, BY BATTERY TYPE, VALUE, USD MILLION, 2017 - 2029

    Figure 51:  

    SOUTH KOREA E-BIKE MARKET, BY BATTERY TYPE, VALUE SHARE (%), 2022 - 2029

    Figure 52:  

    SOUTH KOREA E-BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029

    Figure 53:  

    SOUTH KOREA E-BIKE MARKET, BY BATTERY TYPE, VALUE, USD MILLION, 2017 - 2029

    Figure 54:  

    SOUTH KOREA E-BIKE MARKET, BY BATTERY TYPE, VALUE SHARE (%), 2022 - 2029

    Figure 55:  

    SOUTH KOREA E-BIKE MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2018 - 2021

    Figure 56:  

    SOUTH KOREA E-BIKE MARKET, MOST ADOPTED STRATEGIES, 2018 - 2021

    Figure 57:  

    SOUTH KOREA E-BIKE MARKET SHARE(%), BY MAJOR PLAYERS, 2022

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).

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Research Methodology

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

  • Step-1: Identify Key Variables: In order 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 on the basis of 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. For sales conversion to volume, the average selling price (ASP) is kept constant throughout the forecast period for each country, and inflation is not a part of the pricing.
  • 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 market is studied from 2017 - 2029.

The South Korea E-bike Market is projected to register a CAGR of 4.59%

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.

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.

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.

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.

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

South Korea E-bike Industry Report

Statistics for the 2023 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.