South America Electric Bus Battery Pack Market Size

South America Electric Bus Battery Pack Market Analysis

The South America Electric Bus Battery Pack Market size is estimated at 9.76 million USD in 2023, and is expected to reach 28.62 million USD by 2029, growing at a CAGR of 19.63% during the forecast period (2023-2029).

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9.76 Million

Market Size in 2023 (USD)

28.62 Million

Market Size in 2029 (USD)

0.00 %

CAGR (2022-2022)

19.63 %

CAGR (2023-2029)

Largest Segment by Propulsion Type

99.16 %

value share, PHEV, 2022

Due to carbon free emissions, low maintenance, and government requirements, inexpensive technology over PHEV, BEV e-buses dominate South America.

Largest Segment by Battery Chemistry

56.32 %

value share, NCM, 2022

Fats charging capability, high energy density, require less space over other batteries are factors making the NMC batteries the top seller for e buses in South America.

Largest Segment by Battery Form

54.44 %

value share, Pouch, 2022

Due to its low cost, simple built with fewer electrical connections, great energy density, and safety, prismatic batteries dominate the South American e-bus industry.

Largest Segment by Capacity

72.11 %

value share, Above 80 kWh, 2022

Intercity travel, affordable long-distance transit, and simple accessibility are driving demand for big buses with batteries beyond 250 kWH in South America.

South America Electric Bus Battery Pack Industry Segmentation

BEV, PHEV are covered as segments by Propulsion Type. LFP, NCA, NCM, NMC, Others are covered as segments by Battery Chemistry. 15 kWh to 40 kWh, 40 kWh to 80 kWh, Above 80 kWh, Less than 15 kWh are covered as segments by Capacity. Cylindrical, Pouch, Prismatic are covered as segments by Battery Form. Laser, Wire are covered as segments by Method. Anode, Cathode, Electrolyte, Separator are covered as segments by Component. Cobalt, Lithium, Manganese, Natural Graphite, Nickel are covered as segments by Material Type.

• In many of the countries falling under the South America region, buses are one of the main modes of public transit. Old traditional buses emit a lot of carbon dioxide due to ICE engines, therefore during the recent years, demand for electric buses has gradually grown in various South American countries such as Brazil, Chile, colombia etc. The demand for electric buses increased by xx% in 2021 over 2017 due to growing government's imposition of strict EV regulations, promotion of EVs through subsidies and rebates, rise in green transportation to cut down the carbon emission. As a result, the demand for battery packs for battery electric buses and plug in hybrid electric buses also increased by xx% in 2021 over 2017 throughout the region.
• Electric buses are gradually increasing in countries under the region. As of 2022 in South America, Chile has one of the highest demands of various type of electric buses and battery packs to power them. Chile has more than 800 buses being the major contributor to the battery market, some of the other countries such as Brazil, Colombia, Peru is also contributing to the growth of battery packs owing to the growing demand for electric buses in these countries gradaully. As a result, the region has witnessed a growth in the demand of electric buses by xx% in 2022 over 2021.
• Various companies are getting orders of electric buses from different countries falling under the region. In November 2022, the Chinese automaker BYD has announced to deliver 100 electric buses chassis in Sap Paulo, Brazil by the 1st half of 2023. These chassis will be further assembled to electric buses, which will also increase the demand of the battery packs for various types of buses such as battery electric and PHEB. Such developments are expected to enhance the demand for the battery packs during the forecast period in South America.