Market Size of mexico electric car Industry
| Icons | Lable | Value |
|---|---|---|
|
Study Period | 2016 - 2029 |
|
Market Size (2024) | USD 0.51 Billion |
|
|
Market Size (2029) | USD 4.11 Billion |
|
Largest Share by Sub Body Type | Sports Utility Vehicle |
|
|
CAGR (2024 - 2029) | 51.79 % |
|
Fastest Growing by Sub Body Type | Multi-purpose Vehicle |
Major Players |
||
|
||
|
*Disclaimer: Major Players sorted in no particular order |
Mexico Electric Car Market Analysis
The Mexico Electric Car Market size is estimated at USD 0.51 billion in 2024, and is expected to reach USD 4.11 billion by 2029, growing at a CAGR of 51.79% during the forecast period (2024-2029).
- Largest Segment by Vehicle Type - Sports Utility Vehicle : The growth of sedans increased with the launch of Tesla models and major electric cars are produced in sedans as of now, making sedans the best-selling segment in passenger car sales in the Mexico.
- Largest Segment by Fuel Type - HEV : The rebates provided by the government are highest on BEV and stringent norms are encouraging people to invest in clean fuel vehicles, which makes BEV the largest fuel type in Mexico e-car sales.
- Fastest-growing Segment by Fuel Type - PHEV : Better fuel efficiency, and no range anxiety issues with a combination of traditional fuel and battery-powered engines are making PHEV the fastest-growing segment in passenger car sales in Mexico.
