Latin America Electric Mobility Market Overview
Market Statistics
Base Year: 2024
Historical Years: 2019-2024
Forecast Years: 2025-2033
Market Size in 2024: USD 39.60 Billion
Market Forecast in 2033: USD 415.20 Billion
Market Growth Rate: 26.50% (2025-2033)
According to the latest report by IMARC Group, the Latin American electric mobility market size reached USD 39.60 billion in 2024. Looking forward, IMARC Group expects the market to reach USD 415.20 billion by 2033, exhibiting a growth rate (CAGR) of 26.50% during 2025-2033.
Latin America Electric Mobility Market Trends and Drivers:
Latin America’s electric mobility market is on the rise because of more city living, expensive fuel and government actions to help the environment. Brazil, Mexico and Chile are in the front in using electric vehicles (EVs), all thanks to tax breaks, available subsidies and major charges. Global automakers are adding relatively cheap electric vehicles to the market which benefits the area’s middle-class group. In addition, electric buses and two-wheelers are pushing the move toward cleaner modes of transportation. But some difficulties such as high upfront charges and a lack of charging spots in rural areas, still prevent more people from buying electric vehicles.
The further growth of the Latin America electric mobility market is anticipated due to technological progress and cooperation between public and private organizations. Because there is more attention on using renewables and battery prices are falling, adding EVs to our lives is more practical. Ride-sharing firms and those running fleets are choosing electric vehicles more often to lower their expenditures and protect the environment. Also, because there is no single set of regulations and countries depend on EVs from outside, local production of electric cars isn’t growing. Increased understanding of environmental gains has made people more interested in electric vehicles which is positioning Latin America to gain a leading role worldwide.
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Latin America Electric Mobility Market Segmentation:
The market report offers a comprehensive analysis of the segments, highlighting those with the largest Latin America Electric Mobility Market share. It includes forecasts for the period 2025-2033 and historical data from 2019-2024 for the following segments.
The report has segmented the market into the following categories:
Drive Type Insights:
- Belt Drive
- Chain Drive
- Hub Drive
End-Use Insights:
- Personal
- Commercial
Battery Insights:
- Lead-acid Battery
- Lithium-ion Battery
- Others
Regional Insights:
- Brazil
- Mexico
- Argentina
- Colombia
- Chile
- Peru
- Others
Competitive Landscape:
The report offers an in-depth examination of the competitive landscape. It includes a thorough competitive analysis encompassing market structure, key player positioning, leading strategies for success, a competitive dashboard, and a company evaluation quadrant. Additionally, the report features detailed profiles of all major companies in the Latin America Electric Mobility industry.
Key highlights of the Report:
- Market Performance (2019-2024)
- Market Outlook (2025-2033)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Strategic Recommendations
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us:
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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