Market Size of south america electric vehicles Industry
| Icons | Lable | Value |
|---|---|---|
|
Study Period | 2016 - 2029 |
|
Base Year For Estimation | 2023 |
|
|
CAGR | 6.98 % |
|
Largest Share by Vehicle Type | Commercial Vehicles |
|
Largest Share by Country | Argentina |
|
|
Market Concentration | High |
Major Players |
||
|
||
|
*Disclaimer: Major Players sorted in no particular order |
South America Electric Vehicles Market Analysis
The South America Electric Vehicles Market is projected to register a CAGR of 6.98%
- Largest Segment by Vehicle Type - Commercial Vehicles : With the increase in electric mobility, the sales of electric passenger cars have grown significantly in recent years. Moroever growth in fuel prices is also shifting people to green vehicles.
- Fastest-growing Segment by Vehicle Type - Light Commercial Vans : Transportation sector in South America is highly potential for e-mobility, and governmental efforts in terms of rebates and subsidies are promoting electric buses in South America.
- Largest Segment by Fuel Type - BEV : Many OEMs have manufactured BEV across South America due to the increase in prices of gasoline and diesel. Government incentives and rebates along with norms are making BEV the largest fuel type.
- Largest Segment by Country - Argentina : In 2021, nearly 35 thousand units were sold in Brazil, an increase of 77% over the previous year, growing population, government norms, and rebates are adding to the growth of EVs.
