Latin America Electric Vehicle Market Size & Outlook
Latin America electric vehicle market, 2018-2030 (US$M)
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Latin America electric vehicle market highlights
- The Latin America electric vehicle market generated a revenue of USD 3,894.8 million in 2024.
- The market is expected to grow at a CAGR of 30.3% from 2025 to 2030.
- In terms of segment, passenger cars was the largest revenue generating vehicle type in 2024.
- Passenger Cars is the most lucrative vehicle type segment registering the fastest growth during the forecast period.
- Country-wise, Brazil is expected to register the highest CAGR from 2025 to 2030.
Latin America data book summary
| Market revenue in 2024 | USD 3,894.8 million |
| Market revenue in 2030 | USD 19,055.1 million |
| Growth rate | 30.3% (CAGR from 2025 to 2030) |
| Largest segment | Passenger cars |
| Fastest growing segment | Passenger Cars |
| Historical data covered | 2018 - 2023 |
| Base year for estimation | 2024 |
| Forecast period covered | 2025 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Scooter, Motorcycle, Three Wheeler, Passenger Cars, Bus, Trucks |
Other key industry trends
- In terms of revenue, Latin America region accounted for 0.3% of the global electric vehicle market in 2024.
- Globally, Europe is projected to lead the regional market in terms of revenue in 2030.
- MEA is the fastest growing regional market and is projected to reach USD 52,243.3 million by 2030.
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Electric Vehicle Market Scope
Electric Vehicle Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Latin America electric vehicle market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to electric vehicle market will help companies and investors design strategic landscapes.
Passenger cars was the largest segment with a revenue share of 46.02% in 2024. Horizon Databook has segmented the Latin America electric vehicle market based on scooter, motorcycle, three wheeler, passenger cars, bus, trucks covering the revenue growth of each sub-segment from 2018 to 2030.
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Our clientele includes a mix of electric vehicle market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America electric vehicle market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America electric vehicle market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America electric vehicle market size, by country, 2018-2030 (US$M)
Latin America Electric Vehicle Market Outlook Share, 2024 & 2030 (US$M)
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