Transformational Growth of Electric Vehicles due to Changing Regulations, OEM Strategies and Offers, Increasing Charging Infrastructure, and Varying Economic Situation of Latin America
This research service analyzes and provides growth forecasts for 2030 for the LATAM hybrid and electric vehicles market (PHEVs, HEVs, and BEVs). By 2030, the commercialization of approximately 1 million electrified vehicles is expected in LATAM, and the total electrified vehicles in operation will be about 5.4 million. Analyzing 2030 sales by technology, PHEVs will reach 405.2 thousand units, HEVs will reach 488.9 thousand units, and BEVs will reach 123.7 thousand units.
The study analyzes on the electrified market by technology, sales, parc, infrastructure, and regulations. The electrified vehicle market in Latin America is nascent in charging infrastructure, vehicle offerings, sales, and regulations. The market has experienced electrification initiatives in several segments, but the leadership in sales continues to be in light vehicles, which are part of the scope of this study.
Out of the several initiatives taken for charging infrastructure, governments are improving very few of them. Many companies are trying to understand what the recovery will look like after the worst moment of the COVID-19 pandemic to define new strategies and investments.
The countries of Latin America have very different regulations and market characteristics, so each country is at a different point in implementing technologies for mobility electrification. Some are focusing only on importing vehicles, from basic to luxury, while others are already seeing the opportunity for producing electric and hybrid vehicles, batteries, new technologies, alternative fuels, and increased charging infrastructure.
Key Features
The research is structured in 4 key sections:
- Growth Opportunity Analysis of xEVs in Latin America: The section provides an overview of the LATAM market, including scope, segmentation, definitions, key trends, key competitors, market share by company, charging stations in public locations, infrastructure highlights, key associations, regulatory framework, key growth metrics, growth drivers, growth restraints, forecast assumptions, forecast by powertrain, technology, sales by country, sales vs. parc, and parc by technology.
- Regional Trends: The section covers some of the key trends impacting electrification in LATAM.
- Regional Spotlight Analysis: The section provides a detailed analysis of the countries that are part of this study in terms of the forecast by powertrain, EV technology, sales vs. parc, parc by technology, regulatory framework, and key EV initiatives and future plans.
- Growth Opportunity Universe: The section provides three growth opportunities for the EV market.
