South Korea Motor Vehicle Industry Outlook 2022 - 2026

Key Market Indicators

Korea's vehicle registration is expected to reach two million units by 2026. This is a 0.9% increase from the 1.8 million vehicles registered in 2021. Since 2010, the Korean market has remained stable. The country's vehicle production is expected to decrease by 0.2%, from 3.9 million units in 2021 to 3.9 million units by 2026. Since 2002, the country's output has decreased by 1.7% year on year. In 2021, it was the seventh largest producer in the world, overtaken by Mexico which produced 3.9 million units. The United States, Japan and India respectively took the 2nd, 3rd and 4th places in the ranking.

South Korea Motor Vehicle Market Data and Forecasts

Improve your Knowledge with the latest Indicators and Trends

• Motorcycle Industry Insights: Exploring Sales and Maintenance Market Dynamics

  Motorcycle sales represent a vital dimension of the automotive industry, the dynamics of which are influenced by various factors. Shifts in customer preferences, economic conditions, and technological advancements contribute to fluctuations in sales performance. While high-performing economies stimulate demand, preference trends like increasing interest in environmentally friendly electric motorcycles have...

  Discover more insights

• Motorcycle Industry: Examining Opportunities, Trends, and Future of Rentals and Electric Models

  The motorcycle industry is undergoing a significant transformation as it embraces the rental market. This segment offers vast opportunities as an increasing number of consumers prefer renting two-wheelers due to cost-effectiveness and convenience. The surge in bike rental startups across major cities worldwide underlines the sector's potential growth. Nonetheless, challenges...

  Discover more insights

• Transport Equipment: An In-depth Exploration of Motorcycles and Bicycles Markets

  The two-wheeler market, encompassing motorcycles and bicycles, exhibits its own unique set of influencing factors. From an economic perspective, consumer purchasing power and disposable income levels directly impact the market's expansion or contraction. The urban-rural divide also plays a significant role, with urban areas showing a marked preference for motorcycles...

  Discover more insights

• Passenger Vehicle Market: A Comprehensive Executive Analysis Track for Global Opportunities

  In light of innovation and technological advancement, the passenger vehicle market has witnessed a significant transformation. The current trend is leaning towards electric cars as sustainable alternatives to conventional fuel-powered vehicles. This is an outcome of stringent emission regulations globally. Furthermore, there has been an increase in the demand for...

  Discover more insights

• Motor Vehicle Part Sector: Unveiling Market Size, Development Trends, and Forecasts

  In recent years, the motor vehicle part sector has seen significant growth. This substantial expansion can be attributed to numerous factors such as technological advancements, improvements in manufacturing processes, and increased demand for vehicles worldwide. Although precise figures vary, recent estimates place the global market value well into the hundreds...

  Discover more insights

• 1
• 2
• 3
• 4