Market Size of south america electric bus Industry
| 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.
