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[ 英語タイトル ] South America Electric Vehicles Market - Growth, Trends, and Forecasts (2020 - 2025)


Product Code : MDAT0083501
Survey : Mordor Intelligence
Publish On : November, 2020
Category : Automotive and Transportation
Report format : PDF
Sales price option (consumption tax not included)
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 - Hyundai Motor Company
- KIA Motors Corporation
- BYD Auto
- BMW Group
- Groupe Renault
- Volkswagen AG
- Nissan

[Report Description]

The South America Electric Vehicles market is anticipated to register a CAGR of over 14% during the forecast period (2020 - 2025).

- Over the past few years, electric vehicles (EV) have witnessed considerable growth in the region due to the need for addressing future energy requirements. The need to attain sustainable transportation plays a significant role in driving electric vehicle demand.
- The electric vehicle market is coming up as an integral part of the automotive industry and represents a pathway towards achieving energy efficiency along with reduced emission of pollutants and other greenhouse gasses.
- The EV market is coming up as an integral part of the automotive industry and represents a pathway towards achieving energy efficiency along with reduced emission of pollutants and other greenhouse gasses. Increasing environmental concerns coupled with favorable government initiatives are some of the major factors driving the market growth. Competition among emerging energy efficiency technologies is also expected to fuel market growth.
- Apart from the industry’s slow and steady shift towards EVs pertaining to environmental issues, tax Benefits, rebates and subsidies are the other factors d driving the market. But lack of adequate charging infrastructure because of the market being in its nascent stage and low gasoline cost in some countries is expected to hinder marker growth over the forecast period.

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.

- 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.

Volkswagen and BYD have been the leading players in the South American market.

- 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.

Apart from Volkswagen, the company is also enquiring Volvo, Mercedes, etc., firms to check for cost competitiveness. The demand for electric commercial vehicles is poised to grow at a faster pace owing to the rising trend toward the adoption of electric vehicles, especially from the public transportation and logistics sectors.

Colombia is Poised to Witness a High Growth Rate

Over the past few years, the Electric Vehicle sales in Colombia have grown at a high pace. Between 2011 and 2018, nearly 3,200 EVs were sold in the country.Of these, nearly 80% of them were either Battery Electric Vehicles (BEV) or Hybrid Electric Vehicles (HEV).

Air pollution in Colombia is worsening at an exponential rate. Cities like Medellin and Bogota face high risks in terms of health and air quality. Following numerous studies from various national universities, researchers found that diesel vehicles are the primary source of pollution within Bogota. Hence, the government is taking incentives and subsidies to achieve an ambitious target of 600,000 EVs on road by 2030 to combat the aforementioned environmental issues. Primarily, tax benefits serve as the biggest incentive currently.

Vehicle tax in the country is based on the overall valuation of the car itself, varying anywhere from 1.5% - 3.5%. However, this has been relaxed to only 1% for Electric Vehicles. In addition to tax rebates, government is also lowering electricity tariffs that would make charging EVs even more affordable. Also, major automobile companies like Renault, BMW, Hyundai, and KIA are actively introducing their electric portfolio in Colombia. By 2020, it is anticipated that nearly 40 EV car models will be available in the country.

Competitive Landscape

The South America Electric Vehicles Market is dominated by few players such as Hyundai Motor Company, KIA Motors Corporation, BYD Auto, BMW Group, and GroupeRenault. The market for electric vehicles is characterized by the presence of both established companies as well as small start-ups. There are also a large number of regional players currently focusing on specific geographies. For the commercial vehicle segment, BYD and Volvo are the most active companies. BMW, Kia, Renault, Hyundai are some of the major companies which cater to passenger cars.

Reasons to Purchase this report:

- The market estimate (ME) sheet in Excel format
- 3 months of analyst support

1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION
5.1 Drive-train technology
5.1.1 Battery Electric Vehicles
5.1.2 Fuel cell Electric Vehicles
5.1.3 Hybrid Electric Vehicles
5.2 Charging Type
5.2.1 Normal Charging
5.2.2 Fast Charging
5.3 Vehicle Type
5.3.1 Passenger Cars
5.3.2 Commercial Vehicles
5.4 Geography
5.4.1 South America
5.4.1.1 Brazil
5.4.1.2 Argentina
5.4.1.3 Colombia
5.4.1.4 Rest of South America

6 COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 Hyundai Motor Company
6.2.2 KIA Motors Corporation
6.2.3 BYD Auto
6.2.4 BMW Group
6.2.5 Groupe Renault
6.2.6 Volkswagen AG
6.2.7 Nissan

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

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