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Latin America Electric Vehicle Market 2019-2027

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    Report

  • 66 Pages
  • June 2019
  • Region: Latin America
  • Triton Market Research
  • ID: 4773784
Market Outlook
The electric vehicle market in Latin America has been projected to depict growth in terms of revenue and expand with a CAGR of 18.81% during the forecast years 2019-2027, according to a report.

Brazil, Mexico and the countries combining to form rest of Latin America together constitute the market for electric vehicles in Latin America.

Tax measures taken by various national governments in Latin America are important tools that have helped in fueling the demand for EVs in the region, thereby leading to technological breakthroughs which have further propelled the market growth. Electronic vehicles are more economical when compared to conventionally used fuel-based vehicles. The hike in the prices of petroleum products worldwide has limited their supply.

Governments all over the globe are implementing guidelines and incentive programs to promote the sales of EVs. However, certain factors challenge the EV market growth. According to the International Council for Clean Transport, the annual sales of electric vehicles have shown only marginal growth worldwide. This could be attributed to factors such as the high cost of the new technology, long charge times of the vehicles and limited consumer understanding regarding the viability and availability of the technology. This lack of public awareness is one of the critical factors challenging the growth of the electric vehicle market.

Low performance of electric vehicles as compared to their traditional counterparts is a major challenge faced by the Latin American electric vehicle market. The reason for the low performance of electric vehicles can be attributed to the batteries used in electric vehicles. EVs make use of batteries to store electrical energy which powers the motors. These batteries are charged by plugging the vehicle into an electric power source and the time required to charge those depleted batteries can range from less than 30 minutes to almost a full day depending on the size, charging equipment used and the type of the batteries which are used in the electric vehicles. Fuel-based vehicles are a feasible option in this case, as fuel tank can be refilled in a matter of minutes.

Competitive Outlook
Some of the key players operating in the electric vehicle market are Hyundai Motors, Zhejiang Geely Holding Group, Groupe PSA, Mitsubishi, Fiat Chrysler Automobiles N.V., Honda Motor Company, BYD Company, Ltd., Tesla Motors, Inc., General Motors Company, Bayerische Motoren Werke AG, Volkswagen AG, Nissan Motor Co., Ltd., Ford Motor Company, Daimler AG and Toyota Industries Corporation.

Table of Contents

1. Latin America Electric Vehicle Market - Summary
2. Industry Outlook
2.1. Market Definition
2.2. Key Insights
2.3. Introduction: Electric Vehicles
2.4. Evolution & Transition Of Electric Vehicles
2.5. Porter's Five Force Analysis
2.6. Market Attractiveness Matrix
2.7. Industry Components
2.8. Regulatory Framework
2.9. Vendor Scorecard
2.10. Key Impact Analysis
2.11. Market Opportunity Insights
2.12. Industry Player Positioning
2.13. Key Market Strategies
2.14. Market Drivers
2.14.1. Proactive Government Policies To Promote The Use Of Electric Vehicles
2.14.2. Cost-Effectiveness Of Electric Vehicles Over Their Gas-Powered Counterparts
2.14.3. Transport Contributing To Greenhouse Gas (Ghg) Emissions, Air Pollution & Energy Consumption
2.14.4. Increasing Per Capita Income
2.15. Market Restraints
2.15.1. Lack Of Electric Vehicles Charging Stations
2.15.2. High Cost Of Electric Vehicles
2.16. Market Opportunities
2.16.1. Rise In Lithium-Ion Battery Production Capacities
2.16.2. Government Initiatives To Limit Greenhouse Gases
2.16.3. Increased Research & Development Expenditure Towards Development Of Evs
2.17. Market Challenges
2.17.1. Lack Of Public Awareness
2.17.2. Performance Issues
3. Latin America Electric Vehicle Market Outlook - By Vehicle Type
3.1. Commercial Vehicles
3.2. Passenger Cars
3.3. Two Wheelers
3.4. Other Vehicles
4. Latin America Electric Vehicle Market Outlook - By Power Source
4.1. Stored Electricity
4.2. On Board Electricity Generator
5. Latin America Electric Vehicle Market Outlook - By Technology
5.1. Hybrid Electric Vehicle
5.2. Battery Electrical Vehicles
5.3. Plug-In Hybrid Electrical Vehicle
6. Latin America Electric Vehicle Market - Regional Outlook
6.1. Brazil
6.2. Mexico
6.3. Rest Of Latin America
7. Competitive Landscape
7.1. Bayerische Motoren Werke AG
7.2. Byd Company, Ltd.
7.3. Daimler AG
7.4. Fiat Chrysler Automobiles N.V.
7.5. Ford Motor Company
7.6. General Motors Company
7.7. Groupe PSA
7.8. Honda Motor Company
7.9. Hyundai Motors
7.10. Mitsubishi
7.11. Nissan Motor Co., Ltd.
7.12. Tesla Motors, Inc.
7.13. Toyota Industries Corporation
7.14. Volkswagen AG
7.15. Zhejiang Geely Holding Group
8. Methodology & Scope
8.1. Research Scope
8.2. Sources Of Data
8.3. Research Methodology
List of Tables
Table 1. Market Attractiveness Matrix For Electric Vehicle Market
Table 2. Vendor Scorecard Of Electric Vehicle Market
Table 3. Regulatory Framework Of Electric Vehicle Market
Table 4. Key Strategic Developments In Electric Vehicle Market
Table 5. Benefits & Limitations Of Electric Vehicles
Table 6. Worldwide Lithium-Ion Battery Production Capacity (Gwh)
Table 7. Cost Comparison Of Evs To Their Gas-Powered Counterpart
Table 8. Projected Electricity-Powered Two-Wheeler Sales In The United States In 2015 And 2024, By Type (In Units)
Table 9. Latin America Electric Vehicle Market, Country Outlook, 2019-2027 (In $ Million)
Table 10. Latin America Electric Vehicle Market, By Vehicle Type, 2019-2027 (In $ Million)
Table 11. Latin America Electric Vehicle Market, By Power Source, 2019-2027 (In $ Million)
Table 12. Latin America Electric Vehicle Market, By Technology, 2019-2027 (In $ Million)
Table 13. Latin America Electric Vehicle Market, Country Outlook, 2019-2027 (In $ Million)
List of Figures
Figure 1. Latin America Electric Vehicle Market, 2019-2027 (In $ Million)
Figure 2. Porter's Five Force Analysis Of Electric Vehicle Market
Figure 3. Key Impact Analysis
Figure 4. Timeline Of Electric Vehicle
Figure 5. Market Opportunity Insights, By Vehicle Type, 2018
Figure 6. Industry Components Of Electric Vehicle Market
Figure 7. Key Player Positioning In 2018 (%)
Figure 8. Latin America Electric Vehicle Market, By Commercial Vehicles, 2019-2027 (In $ Million)
Figure 9. Latin America Electric Vehicle Market, By Passenger Cars, 2019-2027 (In $ Million)
Figure 10. Latin America Electric Vehicle Market, By Two Wheelers, 2019-2027 (In $ Million)
Figure 11. Latin America Electric Vehicle Market, By Other Vehicles, 2019-2027 (In $ Million)
Figure 12. Latin America Electric Vehicle Market, By Power Source, 2018 & 2027 (In %)
Figure 13. Latin America Electric Vehicle Market, By Stored Electricity, 2019-2027 (In $ Million)
Figure 14. Latin America Electric Vehicle Market, By On Board Electricity Generator, 2019-2027 (In $ Million)
Figure 15. Latin America Electric Vehicle Market, By Technology, 2018 & 2027 (In %)
Figure 16. Latin America Electric Vehicle Market, By Hybrid Electric Vehicle, 2019-2027 (In $ Million)
Figure 17. Latin America Electric Vehicle Market, By Battery Electrical Vehicles, 2019-2027 (In $ Million)
Figure 18. Latin America Electric Vehicle Market, By Plug-In Hybrid Electrical Vehicle, 2019-2027 (In $ Million)
Figure 19. Latin America Electric Vehicle Market, Regional Outlook, 2018 & 2027 (In %)
Figure 20. Brazil Electric Vehicle Market, 2019-2027 (In $ Million)
Figure 21. Mexico Electric Vehicle Market, 2019-2027 (In $ Million)
Figure 22. Rest Of Latin America Electric Vehicle Market, 2019-2027 (In $ Million)

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Bayerische Motoren Werke AG

  • Byd Company, Ltd.

  • Daimler AG

  • Fiat Chrysler Automobiles N.V.

  • Ford Motor Company

  • General Motors Company

  • Groupe Psa

  • Honda Motor Company

  • Hyundai Motors

  • Mitsubishi

  • Nissan Motor Co., Ltd.

  • Tesla Motors, Inc.

  • Toyota Industries Corporation

  • Volkswagen AG

  • Zhejiang Geely Holding Group

Methodology

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