South Korea Bus Industry Outlook 2022 - 2026

Key Market Indicators

Korean bus imports are forecast to reach a value of $87.2 million by 2026, up 4% per year on average from 2021's figure of $67.7 million. Since 1993, the demand for Korean buses has grown by 24.1% annually. Korean bus exports, meanwhile, are expected to reach $611.6 million by 2026, a decrease of 1.7% per year on average from 2021's figure of $667.1 million. Since 1993, the country's supply of buses has decreased by 2.9% year on year. In 2021, the Czech Republic was the leading exporter of buses with $667.1 million, followed by China, Germany and Poland.

South Korea Bus Market Data and Forecasts

Improve your Knowledge with the latest Indicators and Trends

• Buses: Evaluating Dynamic Global Trends and Emerging Market Paradigms

  The bus market is subject to a variety of global trends, each of which is contributing towards shaping the industry's future. Environmental awareness is a significant driver, given the rising demand for more sustainable, low-emission transportation options. This has led to an increase in hybrid and electric buses production, which...

  Discover more insights

• Public Transport Revolution: Exploring Innovations in Autonomous Bus Door Systems

  Recent years have witnessed a burgeoning focus on technological transformations in public transportation, primarily driven by the global push towards efficient, sustainable, and convenient transit systems. Notably, the aspect of bus door system has gained attention, as it considerably influences the safety, accessibility, and efficiency of public buses. Stakeholders are...

  Discover more insights

• Bus Transport: Unveiling Global Trends, Opportunities, and Market Growth Potential

  Driven by environmental concerns and advancements in technology, the global bus transport sector is evolving rapidly. Electric and autonomous buses are becoming more prevalent as countries strive to reduce their carbon footprints. Smart transit systems are emerging, leveraging data analytics and IoT technologies for enhanced operational efficiency and passenger experience....

  Discover more insights

• Power Infrastructure: Unraveling the Potential of Global Busbar Market Dynamics

  Several key factors influence the dynamics of the global busbar market. Firstly, increasing industrialization and urbanization activities worldwide are creating a growing necessity for reliable electric power infrastructure. Busbars, as integral constituents of this infrastructure, which facilitate the consistent and efficient distribution of electricity, have thus seen their market surge....

  Discover more insights

• Electrical Power Distribution: Busbar Market's Key Trends and Opportunities till 2030

  Increasing emphasis on energy efficiency and the expansion of power-generation infrastructure, especially in emerging markets, serve as primary drivers for the busbar industry's growth. Demand for low power loss solutions in electrical distribution plays a vital role in propelling the market. As busbars reduce the complexity of electrical wiring systems...

  Discover more insights