South America Electric Bus Market Size
| Icons | Lable | Value |
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Study Period | 2016 - 2029 |
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Market Size (2024) | USD 0.43 Billion |
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Market Size (2029) | USD 1.07 Billion |
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Largest Share by Fuel Type | HEV |
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CAGR (2024 - 2029) | 20.00 % |
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Largest Share by Country | Argentina |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
South America Electric Bus Market Analysis
The South America Electric Bus Market size is estimated at USD 0.43 billion in 2024, and is expected to reach USD 1.07 billion by 2029, growing at a CAGR of 20% during the forecast period (2024-2029).
- Largest Segment by Fuel Type - HEV : The largest fuel type is a plug-in hybrid in buses sales. The demand for low-emission buses among consumers and increased fuel economy are growing plug-in hybrid electric bus sales in South America.
- Fastest-growing Segment by Fuel Type - BEV : FCEV is the fastest-growing fuel type sector due to its zero emissions, increased economy, and quicker refueling times compared to electric vehicles.
- Largest Segment by Country - Argentina : 2,162 battery-powered electric buses counted in 2021, this is due to the government's focus on clean and carbon-free transportation, making Chile largest country with e buses sales in South America
- Fastest Growing Country Market - Brazil : Brazil is a potential market in South America, and governmental efforts in terms of rebates and subsidies are promoting electric transportation in Brazil.
South America Electric Bus Market Trends
This section covers the major market trends shaping the South America Electric Bus Market according to our research experts:
HEV is the largest segment by Fuel Type.
Understand The Key Trends Shaping This Market
Argentina is the largest segment by Country.
- South America has the highest use of buses per person globally. With a growing Bus Rapid Transit System, nearly 19 million passengers have been identified as traveling through BRT services across several cities in the region. To support this growing demand, many municipalities in the region have started working on expanding public transit options into less-served areas, where cleaner buses may play a vital role in filling the gaps. For instance, in 2019, Chile launched its first electric bus corridor serviced by electric buses from BYD in its capital city Santiago, with the help of local operators Enel X and Metbus.
- Several global climate groups have started pitching in toward reducing emission levels. C40 Cities, a collective of cities taking action on climate change, and the International Council on Clean Transportation have been working with Medellín, São Paulo, and Mexico City to adopt zero-emission buses. The organizations and cities won USD 900,000 from P4G, a sustainability initiative funded by the Danish government. The Inter-American Development Bank is providing technical support, financing, and related services to accelerate clean bus adoption in Argentina, Brazil, Colombia, Costa Rica, Mexico, and Paraguay.
- The lack of charging stations and high taxes on imported electric buses are also identified as a few major factors that have been driving the demand for other private vehicles as a viable alternative transport system for public commutes in South America. In recent years, bus ridership has seen a slight drop in places where motorcycles or ride-hailing services are cheaper or more convenient than fragmented, inefficient bus routes.
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South America Electric Bus Industry Overview
The South America Electric Bus Market is fairly consolidated, with the top five companies occupying 77.10%. The major players in this market are Byd Auto Industry Company Limited, Daimler AG, Higer Bus Company Limited, IVECO and Volvo do Brasil Veiculos Ltda (sorted alphabetically).
South America Electric Bus Market Leaders
Byd Auto Industry Company Limited
Daimler AG
Higer Bus Company Limited
IVECO
Volvo do Brasil Veiculos Ltda
*Disclaimer: Major Players sorted in no particular order
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South America Electric Bus Market News
- August 2022: Foton has begun delivering EV city buses to Chile based on a previously signed order. On May 14, Foton had signed an agreement to provide 1,022 EV buses worth RMB 1.6 billion to Chile for the Santiago public transportation system. This was the largest order of Chinese EV city buses from a non-China market, making Foton the greatest supplier in the Chilean new energy vehicle market. Currently, Foton has 300 electric buses operating in Chile, accounting for approximately 40% of the electric bus total in the country.
- August 2022: Marcopolo announced the series production of its first electric bus with its own chassis. Marcopolo will produce 30 of the new Attivi electric buses from August to the end of 2022 in various configurations.
- July 2022: Agrale, which manufactures trucks and buses in the town of Mercedes, Argentina, in Buenos Aires Province, sent a notice informing its suppliers that it will suspend production in Argentina until the end of 2022.
South America Electric Bus Market Report - Table of Contents
1. EXECUTIVE SUMMARY & KEY FINDINGS
2. REPORT OFFERS
3. INTRODUCTION
3.1. Study Assumptions & Market Definition
3.2. Scope of the Study
3.3. Research Methodology
4. KEY INDUSTRY TRENDS
4.1. Population
4.2. GDP
4.3. CVP
4.4. Inflation Rate
4.5. Interest Rate For Auto Loans
4.6. Battery Price (per Kwh)
4.7. Logistics Performance Index
4.8. Electrification Impact
4.9. New XEV Models Announced
4.10. Charging Stations Deployment
4.11. Regulatory Framework
4.12. Value Chain & Distribution Channel Analysis
5. MARKET SEGMENTATION
5.1. Fuel Type
5.2. Country
5.2.1. Rest-of-Latin America
6. COMPETITIVE LANDSCAPE
6.1. Key Strategic Moves
6.2. Market Share Analysis
6.3. Company Landscape
6.4. Company Profiles
6.4.1. AGRALE MONTADORA LTDA
6.4.2. Byd Auto Industry Company Limited
6.4.3. Daimler AG
6.4.4. Daimler AG
6.4.5. ELETRA INDUSTRIAL LTDA
6.4.6. Equipmake
6.4.7. FOTON MOTORS DO BRASIL LTDA
6.4.8. Higer Bus Company Limited
6.4.9. IVECO
6.4.10. King Long United Automotive Industry Co. Ltd.
6.4.11. Marcopolo S.A
6.4.12. MERCEDES-BENZ DO BRASIL LTDA
6.4.13. Transdev Group
6.4.14. Volvo do Brasil Veiculos Ltda
6.4.15. VWCO (Volkswagen Caminhões e Ônibus)
7. KEY STRATEGIC QUESTIONS FOR VEHICLES CEOS
8. APPENDIX
8.1. Global Overview
8.1.1. Overview
8.1.2. Porter's Five Forces Framework
8.1.3. Global Value Chain Analysis
8.1.4. Market Dynamics (DROs)
8.2. Sources & References
8.3. List of Tables & Figures
8.4. Primary Insights
8.5. Data Pack
8.6. Glossary of Terms
List of Tables & Figures
- Figure 1:
- SOUTH AMERICA ELECTRIC BUS MARKET, POPULATION YOY GROWTH RATE, MILLION UNITS, 2016 – 2026
- Figure 2:
- SOUTH AMERICA ELECTRIC BUS MARKET, GDP YOY GROWTH RATE, USD MILLION, 2016 – 2026
- Figure 3:
- SOUTH AMERICA ELECTRIC BUS MARKET, CVP YOY GROWTH RATE, 2016 – 2027
- Figure 4:
- SOUTH AMERICA ELECTRIC BUS MARKET, INFLATION RATE YOY GROWTH RATE, PERCENT, 2016 – 2026
- Figure 5:
- SOUTH AMERICA ELECTRIC BUS MARKET, INTEREST RATE FOR AUTO LOANS YOY GROWTH RATE, PERCENT, 2016 – 2026
- Figure 6:
- SOUTH AMERICA ELECTRIC BUS MARKET, BATTERY PRICES YOY GROWTH RATE, 2016 – 2026
- Figure 7:
- SOUTH AMERICA ELECTRIC BUS MARKET, LPI YOY GROWTH RATE, 2016 – 2026
- Figure 8:
- SOUTH AMERICA ELECTRIC BUS MARKET, ELECTRIFICATION IMPACT, VOLUME, YOY GROWTH RATE, PERCENT, 2016 – 2026
- Figure 9:
- SOUTH AMERICA ELECTRIC BUS MARKET, NEW XEV MODELS ANNOUNCED, VOLUME, YOY GROWTH RATE, UNITS, 2016 – 2026
- Figure 10:
- SOUTH AMERICA ELECTRIC BUS MARKET, CHARGING STATIONS DEPLOYMENT, VOLUME, YOY GROWTH RATE, UNITS, 2016 – 2026
- Figure 11:
- SOUTH AMERICA ELECTRIC BUS MARKET, VOLUME IN UNITS, 2016 – 2026
- Figure 12:
- SOUTH AMERICA ELECTRIC BUS MARKET, VALUE IN USD, 2016 – 2026
- Figure 13:
- SOUTH AMERICA ELECTRIC BUS MARKET, BY FUEL TYPE, BY VOLUME IN UNITS, 2016-2028
- Figure 14:
- SOUTH AMERICA ELECTRIC BUS MARKET, BY FUEL TYPE, BY VALUE IN USD, 2016-2028
- Figure 15:
- SOUTH AMERICA ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL TYPE, 2016 - 2028
- Figure 16:
- SOUTH AMERICA ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL TYPE, 2016 - 2028
- Figure 17:
- SOUTH AMERICA ELECTRIC BUS MARKET, BY COUNTRY, BY VOLUME IN UNITS, 2016-2028
- Figure 18:
- SOUTH AMERICA ELECTRIC BUS MARKET, BY COUNTRY, BY VALUE IN USD, 2016-2028
- Figure 19:
- SOUTH AMERICA ELECTRIC BUS MARKET MARKET, SHARE(%), BY COUNTRY, 2016 - 2028
- Figure 20:
- SOUTH AMERICA ELECTRIC BUS MARKET MARKET, SHARE(%), BY COUNTRY, 2016 - 2028
- Figure 21:
- SOUTH AMERICA ELECTRIC BUS MARKET, BY REST-OF-LATIN AMERICA, BY VOLUME IN UNITS, 2016-2028
- Figure 22:
- SOUTH AMERICA ELECTRIC BUS MARKET, BY REST-OF-LATIN AMERICA, BY VALUE IN USD, 2016-2028
- Figure 23:
- SOUTH AMERICA ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL TYPE, 2021 - 2028
- Figure 24:
- SOUTH AMERICA ELECTRIC BUS MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2018 - 2021
- Figure 25:
- SOUTH AMERICA ELECTRIC BUS MARKET, MOST ADOPTED STRATEGIES, 2018 - 2021
- Figure 26:
- SOUTH AMERICA ELECTRIC BUS MARKET SHARE(%), BY MAJOR PLAYERS, 2021
South America Electric Bus Industry Segmentation
are covered as segments by Fuel Type. Rest-of-Latin America are covered as segments by Country.| Country | |
| Rest-of-Latin America |
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Market Definition
- Body Type - A road vehicle that carries significantly more passengers than an average car or van. It is most commonly used in public transport but is also used for charter purposes or private ownership.
- Engine Type - Hybrid and electric vehicles are vehicles that run on batteries and use one or more electric motors for propulsion. Under this category, electric buses have been included.
- Fuel Type - Hybrid and electric vehicles include HEV, PHEV, BEV, and FCEV.
- Sub Body Type -
- Vehicle Type - Commercial vehicles are motorized road vehicles designed for transporting people or goods. The category includes medium and heavy-duty buses.
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Research Methodology
Mordor Intelligence follows a four-step methodology in all our reports.
- Step-1: Identify Key Variables: In order to build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built on the basis of these variables.
- Step-2: Build a Market Model: Market-size estimations for the historical and forecast years have been provided in revenue and volume terms. For sales conversion to volume, the average selling price (ASP) is kept constant throughout the forecast period for each country, and inflation is not a part of the pricing.
- Step-3: Validate and Finalize: In this important step, all market numbers, variables and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms
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