In 2022, the electric vehicles market in South America was valued at some 7.8 billion U.S. dollars. The market is tipped to grow by a compound annual growth rate of just under seven percent between 2022 and 2028, reaching 11.7 billion U.S. dollars in that latter year. Electric vehicles are still an emerging market in the region, but more governmental focus on sustainability is projected to propel its growth. The electric vehicle charging system market is forecast to similarly increase across Latin America, matching the demand and output for electric vehicles.
Projected electric vehicle market size in South America between 2022 and 2028
(in billion U.S. dollars)
An exponential development of the values between 2022 and 2028 was assumed to estimate the annual values. The values for 2022 and 2028 were provided by the source.
Profit from the additional features of your individual account
Currently, you are using a shared account. To use individual functions (e.g., mark statistics as favourites, set
statistic alerts) please log in with your personal account.
If you are an admin, please authenticate by logging in again.
Learn more about how Statista can support your business.
Statista, & Mordor Intelligence. (September 28, 2023). Projected electric vehicle market size in South America between 2022 and 2028 (in billion U.S. dollars) [Graph]. In Statista. Retrieved December 03, 2024, from https://www.statista.com/statistics/1282073/south-american-electric-vehicles-market-forecast/
Statista, und Mordor Intelligence. "Projected electric vehicle market size in South America between 2022 and 2028 (in billion U.S. dollars)." Chart. September 28, 2023. Statista. Accessed December 03, 2024. https://www.statista.com/statistics/1282073/south-american-electric-vehicles-market-forecast/
Statista, Mordor Intelligence. (2023). Projected electric vehicle market size in South America between 2022 and 2028 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: December 03, 2024. https://www.statista.com/statistics/1282073/south-american-electric-vehicles-market-forecast/
Statista, and Mordor Intelligence. "Projected Electric Vehicle Market Size in South America between 2022 and 2028 (in Billion U.S. Dollars)." Statista, Statista Inc., 28 Sep 2023, https://www.statista.com/statistics/1282073/south-american-electric-vehicles-market-forecast/
Statista & Mordor Intelligence, Projected electric vehicle market size in South America between 2022 and 2028 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/1282073/south-american-electric-vehicles-market-forecast/ (last visited December 03, 2024)
Projected electric vehicle market size in South America between 2022 and 2028 (in billion U.S. dollars) [Graph], Statista, & Mordor Intelligence, September 28, 2023. [Online]. Available: https://www.statista.com/statistics/1282073/south-american-electric-vehicles-market-forecast/
