South America Electric Vehicles Market – Growth, Trends, and Forecasts (2020 – 2025)
The South America Electric Vehicles Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
The South America Electric Vehicles market is anticipated to register a CAGR of over 14% during the forecast period (2020 – 2025).
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Top Leading Companies of South America Electric Vehicles Market are Hyundai Motor Company, KIA Motors Corporation, BYD Auto, BMW Group, Groupe Renault, Volkswagen AG, Nissan and others.
Industry News and Updates:
– In July 2018 the Government approved the national green growth policy for 2030, with one of the goals being the introduction of 600,000 electric vehicles by 2030 by that year. More specifically, according to this policy, it is expected to deploy 400,000 electric light-duty vehicles and 13,000 trucks.
– In March 2020, BYD has received another order from Transcarsell, a public transport service provider in Ecuador for 20 electric trucks. BYD is expected to start deliveries in phases from August 2020 and finish by 2021. The company has been the largest supplier of electric vehicles in the region. Besides electric trucks, BYD has supplied electric buses and taxis to Argentina, Chile, and Colombia.
– In December 2019, Volkswagen Trucks and Buses announced an investment of BRL 110 million at the Resende plant to prepare for the assembly of the e-Delivery battery electric light truck. The investment will be used to expand the production area, acquire equipment and allocate an area for electric powertrain installation. Production of the e-Delivery is expected to begin in the second half of 2020.
– In August 2018, Volkswagen AG has received an order for 1600 electric trucks from a logistics company, in Brazil in a move to electrify its fleet by 2023.
Key Market Trends:
Commercial Vehicles is Expected to be a Fastest Growing Segment
Bus manufacturers like BYD are entering the South American market by overcoming the challenges to replace diesel buses with battery-operated ones. BYD Auto has received orders from Argentina to become a domestic auto manufacturer and will contribute to revamping the existing bus fleets with 100% electric buses.
Over the past few years, the demand for electric trucks in the South American region has been increasing. Factors such as achieving energy efficiency by reducing emissions, the need for addressing future energy requirements, anticipated increase in the adoption of electric trucks for logistics and municipal applications and investments made by OEMs to start production electric vehicles in the region are driving the market.
The regions are further sub-divided into:
-North America (NA) – US, Canada, and Mexico
-Europe (EU) – UK, Germany, France, Italy, Russia, Spain & Rest of Europe
-Asia-Pacific (APAC) – China, India, Japan, South Korea, Australia & Rest of APAC
-Latin America (LA) – Brazil, Argentina, Peru, Chile & Rest of Latin America
-Middle East and Africa (MEA) – Saudi Arabia, UAE, Israel, South Africa
Influence of the South America Electric Vehicles market report:
-Comprehensive assessment of all opportunities and risk in the South America Electric Vehicles market.
– South America Electric Vehicles market recent innovations and major events.
-Detailed study of business strategies for growth of the South America Electric Vehicles market-leading players.
-Conclusive study about the growth plot of Infrared Imaging market for forthcoming years.
-In-depth understanding of South America Electric Vehicles market-particular drivers, constraints and major micro markets.
-Favourable impression inside vital technological and market latest trends striking the South America Electric Vehicles market.
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What Are The Market Factors That Are Explained In The Report?
Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
Analytical Tools: The South America Electric Vehicles Market Report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
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