Electric Vehicles - LATAM
LATAM- Revenue in the Electric Vehicles market is projected to reach US$41.3bn in 2024.
- Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 8.49%, resulting in a projected market volume of US$62.0bn by 2029.
- Electric Vehicles market unit sales are expected to reach 150.20k vehicles in 2029.
- The volume weighted average price of Electric Vehicles market in 2024 is expected to amount to US$406.4k.
- From an international perspective it is shown that the most revenue will be generated China (US$376bn in 2024).
CO2 emissions exert a profound influence on climate and the environment, fueling the greenhouse effect and contributing significantly to global climate change. Nearly one-fourth of these emissions worldwide can be attributed to the transportation sector. Electric vehicles (EVs) emerge as a promising solution, potentially acting as a carbon-neutral alternative when powered by renewable energy sources. This underscores their pivotal role in mitigating the impact of traditional combustion engine vehicles on the environment.
The Electric Vehicles market includes information about electric vehicles in countries where, according to our sources, a public electric vehicle charging infrastructure is already available. In this context, “public” means that people have unrestricted access to the charging infrastructure. A vehicle can be defined as electric if it is self-contained with a battery or classified as a plug-in hybrid. All key figures shown represent the sales of new cars, and their basic configuration in the respective year. The figures do not include the sale of used vehicles nor adapted equipment for the new cars sold. The prices and revenues shown are accordingly based on the basic models.
The Electric Vehicle market is divided into distinct two distinct markets, namely Battery Electric Vehicles (BEVs) and Plug-in Hybrid Electric Vehicles (PHEVs). This categorization allows for a nuanced understanding of the market dynamics, considering the specific attributes and market penetration of each electric vehicle type. The emphasis on new car sales and their foundational configurations ensures clarity, while the exclusion of used vehicles and customizations maintains focus on the evolving landscape of electric vehicles.
In-Scope
- Battery electric vehicles (BEVs)
- Plug-in hybrid electric vehicles (PHEVs)
- Road electric vehicles
- Passenger Cars
Out-Of-Scope
- Electric vehicles that are not self-contained and cannot be classified as BEVs or PHEVs
- Rail electric vehicles
- Surface and underwater vessels
- Electric aircraft or spacecraft
- Motorcycles, scooters, mopeds, buses, vans, and trucks
