Market Size of South America Automotive High Performance Electric Vehicles Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 20.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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South America Automotive High Performance Electric Vehicle Market Analysis
The South America automotive high-performance electric vehicles market is anticipated to register a CAGR of more than 20%, during the forecast period, 2020-2025.
- Some of the major factors driving the growth of the market are growing environmental concerns (owing to rising exhaust emissions), enactment of stringent emissions and fuel economy norms, and increasing government initiatives, in terms of subsidies and benefits for increasing the adoption rate of electric vehicles, are expected to propel the demand for and growth of the high-performance electric vehicles market.
- The average commute time of people across the globe has increased tremendously over the past decade. In the United States, the average one way commuting per person has gone up from 25.2 minutes in 2010 to 27.1 minutes in 2018. The share of US workers with more than 60 minutes of one way commute time increased from 8% in 2010 to 10% in 2018. The population of workers with 90 minutes or more of one way commute timing was 4.3 million in 2018 compared to 3.3 million in 2010. Owing to the fact that an average american travelling by car uses 1.28 gallons of fuel (average one way commute distance in United states is 16 miles) per day, almost 25.6 lbs of carbon dioxide is released into the atmosphere per day by per commuter. The market for high performance electric cars are being driven by the aforementioned facts.
- Governments of developed economies across the world are providing monetary benefits such as zero to very less registration fee and exemption in import tax, purchase tax, and road tax. Apart from providing subsidies, governments are also making favorable policies for the development of charging infrastructure.
South America Automotive High Performance Electric Vehicle Industry Segmentation
The South America automotive high-performance electric vehicles market covers the latest trends and technological development in the automotive high-performance electric vehicles, demand of the drive type, vehicle type, country, and market share of major automotive high-performance electric vehicles manufacturers across South America.
| By Drive Type | |
| Plug-in Hybrid | |
| Battery or Pure Electric |
| By Vehicle Type | |
| Passenger Cars | |
| Commercial Vehicles |
| By Country | |
| Brazil | |
| Argentina | |
| Chile | |
| Peru | |
| Rest of South America |
South America Automotive High Performance Electric Vehicles Market Size Summary
The South America automotive high-performance electric vehicles market is poised for significant growth, driven by increasing environmental concerns and the implementation of stringent emissions and fuel economy regulations. Government initiatives, including subsidies and tax exemptions, are further propelling the adoption of electric vehicles. The demand for fuel-efficient and low-emission vehicles is rising, although limited range remains a challenge. However, advancements in battery technology are enabling manufacturers to produce electric cars with extended mobility ranges, enhancing their appeal. Tesla, a leader in the market, exemplifies this trend with its high-performance models that offer substantial ranges on a single charge. The company's strategic expansion into developing economies aims to reduce production costs, making electric vehicles more accessible.
Key players in the market, such as Tesla, Daimler, BMW, Hyundai, Nissan, and Chevrolet, are focusing on developing cost-effective electric vehicles with improved ranges. The transition from diesel to electric powertrains in commercial vehicles is gaining momentum, supported by international regulations on emissions. Collaborations and partnerships, like those between Toyota and Kenworth, are fostering innovation in zero-emission vehicles. Despite challenges like high ownership costs and inadequate charging infrastructure, the market is expected to grow as OEMs continue to innovate and expand their offerings. The development of supporting infrastructure, such as EV charging stations, is crucial for sustaining this growth trajectory.
South America Automotive High Performance Electric Vehicles Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Industry Attractiveness - Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Drive Type
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2.1.1 Plug-in Hybrid
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2.1.2 Battery or Pure Electric
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2.2 By Vehicle Type
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2.2.1 Passenger Cars
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2.2.2 Commercial Vehicles
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2.3 By Country
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2.3.1 Brazil
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2.3.2 Argentina
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2.3.3 Chile
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2.3.4 Peru
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2.3.5 Rest of South America
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South America Automotive High Performance Electric Vehicles Market Size FAQs
What is the current South America Automotive High Performance Electric Vehicles Market size?
The South America Automotive High Performance Electric Vehicles Market is projected to register a CAGR of greater than 20% during the forecast period (2024-2029)
Who are the key players in South America Automotive High Performance Electric Vehicles Market?
Tesla Inc., Hyundai Motors, Daimler AG, BMW Group and Nissan are the major companies operating in the South America Automotive High Performance Electric Vehicles Market.
