(MENAFN- GlobeNewsWire - Nasdaq) South Korea's electric bus market is booming due to government mandates for fleet electrification and emission reductions. Opportunities include advancements in smart charging, lower operational costs, and demand in school and intercity transit. Challenges involve high initial costs and infrastructure needs.

Dublin, Nov. 25, 2025 (GLOBE NEWSWIRE) -- The "South Korea Electric Bus Market, By Region, By Competition, Opportunities & Forecast, 2020-2030F" report has been added to ResearchAndMarkets's offering.
The South Korea Electric Bus Market was valued at USD 1.11 Billion in 2024, and is expected to reach USD 2.53 Billion by 2030, rising at a CAGR of 14.67%

The South Korea electric bus market is experiencing substantial momentum due to rising demand for sustainable mobility and a concentrated focus on reducing transportation-related emissions. Government initiatives mandating fleet electrification, particularly for public transportation, are significantly shaping demand.

Incentives for electric bus procurement and the establishment of charging infrastructure are accelerating fleet modernization across urban transit systems. Technological innovations such as solid-state batteries, extended range capabilities, and integration with intelligent transport systems are supporting the transition. Electric buses are also benefiting from lower operational costs due to reduced fuel consumption and maintenance requirements, making them attractive to fleet operators. Demand from school transportation and intercity services is emerging as a new application area, further driving adoption.
Growth in the market is being supported by key trends such as advancements in charging technologies and the emergence of smart charging ecosystems. Manufacturers are investing in battery-swapping solutions and fast-charging capabilities to reduce downtime and improve fleet utilization. Integration of electric buses with fleet management software and route optimization tools is becoming common, enabling better energy management and route efficiency.

The shift toward connected and autonomous electric buses is creating a convergence between electric mobility and digital infrastructure. Opportunities lie in the development of modular electric platforms that support multiple bus sizes, enabling customization and expanding addressable markets across transit and logistics applications. Innovation in materials used for bus body construction is also contributing to higher energy efficiency and vehicle durability.
Despite the strong momentum, challenges persist in scaling electric bus deployment. Upfront acquisition costs remain high compared to conventional buses, creating capital strain for smaller operators. Range anxiety and insufficient charging infrastructure continue to limit long-route applications. Variability in battery performance due to seasonal temperature changes and heavy passenger loads impacts operational reliability. Standardization across charging protocols and battery types remains fragmented, affecting interoperability.

The need for skilled maintenance personnel and specialized training for electric drivetrain systems presents logistical constraints. Market stakeholders are addressing these issues through collaborative development of charging standards, financing models such as leasing and public-private partnerships, and investment in workforce reskilling to support the transition to electric public transport.

Key Attributes:

Report Attribute	Details
No. of Pages	85
Forecast Period	2024 - 2030
Estimated Market Value (USD) in 2024	$1.11 Billion
Forecasted Market Value (USD) by 2030	$2.53 Billion
Compound Annual Growth Rate	14.6%
Regions Covered	South Korea

Report Scope:

Key Market Players

• BYD Company Limited
• Daimler Truck AG
• Proterra
• Mitsubishi Fuso Truck and Bus Corporation
• Zhengzhou Yutong Bus Co. Ltd.
• Ashok Leyland Ltd.
• Tata Motors Ltd.
• Xiamen King Long United Automotive Industry Co. Ltd.
• AB Volvo
• Scania AB

South Korea Electric Bus Market, By Application:

• Transit Buses
• Motor Coaches
• School Buses
• Others

South Korea Electric Bus Market, By Propulsion Type:

• BEV
• FCEV

South Korea Electric Bus Market, By Seating Capacity:

• Up to 30 seats
• 31-50 seats
• More than 50 seats

South Korea Electric Bus Market, By Length:

• Up to 8 m
• 8 m to 10 m
• 10 m - 12 m
• Above 12 m

South Korea Electric Bus Market, By Region:

• Southern
• Northern
• Central

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Attachment

• South Korean Electric Bus Market

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