South Korea Electric Vehicle Charging Equipment Market Size, Share, and COVID-19 Impact Analysis, By Vehicle Type (Battery Electric Vehicle (BEV), Plug-In Hybrid Electric Vehicle (PHEV), and Hybrid Electric Vehicle (HEV)), By Application (Home Charging, Workplace Charging, and Public Charging), and South Korea Electric Vehicle Charging Equipment Market Insights, Industry Trend, Forecasts to 2035.

South Korea Electric Vehicle Charging Equipment Market Insights Forecasts to 2035

• The South Korea Electric Vehicle Charging Equipment Market Size was estimated at USD 243.34 Thousand Units in 2024
• The Market Size is Expected to Grow at a CAGR of around 24.73% from 2025 to 2035
• The South Korea Electric Vehicle Charging Equipment Market Size is Expected to Reach USD 2765.15 Thousand Units by 2035

According to a research report published by Spherical Insights & Consulting, The South Korea Electric Vehicle Charging Equipment Market Size is Anticipated to reach USD 2765.15 thousand units by 2035, Growing at a CAGR of 24.73% from 2025 to 2035. The strong growth of South Korea's EV charging equipment industry is supported by a multi-pronged strategy involving robust government support, investment from the private sector, technological advancement, and increasing EV adoption. As the nation marches towards achieving carbon-neutrality, EV infrastructure will keep growing exponentially to address increasing demand.

Market Overview

South Korea electric vehicle (EV) charging equipment market is the business of producing, distributing, installing, and maintaining equipment and systems for charging electric vehicles in South Korea. It encompasses both hardware (charging stations, connectors, power modules) and related software solutions like billing, monitoring, and smart grid integration. Additionally, innovations in charging technologies like ultra-fast chargers and the establishment of intelligent charging infrastructure connecting with grid control systems provides opportunities in the market for electric vehicle charging equipment over the short-term. Moreover, these policies and incentives of the government not only promote electric vehicles but also support the demand for EV charging equipment and infrastructure. In order to quadruple the sales of EVs, the government has introduced various incentives.

Report Coverage

This research report categorizes the market for the South Korea electric vehicle charging equipment market based on various segments and regions and forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the South Korea electric vehicle charging equipment market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the South Korea electric vehicle charging equipment market.

Driving Factors

South Korea leads the Asia Pacific in electric vehicle (EV) adoption and charging infrastructure development. The expansion of EV charging infrastructure plays a pivotal role in boosting EV adoption, with the availability of charging points being a key determinant in consumer purchasing decisions. Furthermore, the government is joining hands with leading entities in EV charging station development to spread charging stations across the country. Several companies are also joining hands with initiatives to meet the growing need for public charging stations.

Restraining Factors

The long charge periods continue to discourage most customers from switching to traditional refueling, despite advancements in quick charging. The adoption of EVs and chargers is influenced by this impression, especially among fleet operators and long-distance drivers.

Market Segmentation

The South Korea electric vehicle charging equipment market share is classified into vehicle type and application.

• The battery electric vehicle segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The South Korea electric vehicle charging equipment market is segmented by vehicle type into battery electric vehicle (BEV), plug-in hybrid electric vehicle (PHEV), and hybrid electric vehicle (HEV). Among these, the battery electric vehicle segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period. A large-scale build-out of charging infrastructure to cover BEVs, with the government funding the establishment of electric charging stations to capture the increasing demand.

• The public charging segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The South Korea electric vehicle charging equipment market is segmented by application into home charging, workplace charging, and public charging. Among these, the public charging segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period. Driven by government efforts to build public charging stations, growing demand for convenient charging points, and efforts to promote EV adoption across the country. Public charging points are strategically positioned in cities, highways, and public places, hence highly accessible and necessary for EV users who do not have private charging facilities.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the South Korea electric vehicle charging equipment market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• ABB Ltd.
• BYD Company Limited
• Siemens AG
• Delta Electronics Inc.
• Tesla Inc.
• SK Signet Inc.
• TotalEnergies SE
• Hyundai Motor Group
• POSCO ICT
• KT Corporation
• Others

Recent Developments:

In April 2024, Sterling Tools signed a memorandum of understanding with Yongin, South Korea, to set up an EV Components Facility. This MoU supports Sterling's capability to deliver innovative solutions not just for the EV and hybrid industries but also for a variety of other automotive uses, using cutting-edge technology supplied from Yongin.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at South Korea, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the South Korea electric vehicle charging equipment market based on the below-mentioned segments:

South Korea Electric Vehicle Charging Equipment Market, By Vehicle Type

• Battery Electric Vehicle (BEV)
• Plug-In Hybrid Electric Vehicle (PHEV)
• Hybrid Electric Vehicle (HEV)

South Korea Electric Vehicle Charging Equipment Market, By Application

• Home Charging
• Workplace Charging
• Public Charging