Electric buses employ a variety of batteries. Low-cost lithium ion-phosphate batteries are increasingly used in electric buses. Batteries made of lithium-ion phosphate are both cost-effective and robust. The average price of these batteries is a significant benefit for automakers. Due to their speed, safety, and excellent thermal stability, lithium-ion phosphate batteries have seen a phenomenal increase in sales in recent years. To meet the growing demand for longer drives, market participants are implementing technical improvements to improve the operational efficiency of batteries. This will increase electric bus sales. Electric bus manufacturers are always trying to improve efficiency and increase the range of their vehicles. Furthermore, the production of high-density nickel, manganese, and cobalt (NMC) batteries is subject to significant intellectual property rights. Moreover, LFP batteries avoid the risk of litigation and simultaneously promote domestic battery suppliers over competitors such as LG Chem and Samsung. Thus, the rising production of low-cost lithium ion-phosphate batteries is expected to drive the demand for electric buses across the region.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the South America electric bus market. The South America electric bus market is expected to grow at a good CAGR during the forecast period.
South America Electric Bus Market Revenue and Forecast to 2028 (US$ Million)
South America Electric Bus Market Segmentation
The South America electric bus market is segmented based on vehicle type, hybrid powertrain, battery, end user, and country. Based on vehicle type, the market is segmented into the battery-electric bus, hybrid electric bus, and plug-in hybrid electric bus. The battery-electric bus segment dominated the market in 2021. Based on hybrid powertrain, the market is segmented into series-parallel hybrid, parallel hybrid, and series hybrid. The parallel hybrid segment dominated the market in 2021. Based on battery, the market is bifurcated into lithium iron phosphate (LIP) and lithium nickel manganese cobalt oxide (NMC). The lithium iron phosphate (LIP) segment dominated the market in 2021. Based on end user, the market is bifurcated into public and private. The public segment dominated the market in 2021. Based on country, the South America electric bus market is segmented into Brazil, Argentina, and the Rest of South America. Brazil dominated the market in 2021.
AB Volvo; BYD Company Ltd; CAF Group (Solaris Bus & Coach); Daimler AG; King Long United Automotive Industry Co., Ltd; and Shenzhen Wuzhoulong Motors Co., Ltd are among the leading companies in the South America electric bus market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 143.25 Million |
| Market Size by 2028 | US$ 359.75 Million |
| CAGR (2021 - 2028) | 14.1% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Vehicle Type
|
| Regions and Countries Covered |
South and Central America
|
| Market leaders and key company profiles |
|
The South America Electric Bus Market is valued at US$ 143.25 Million in 2021, it is projected to reach US$ 359.75 Million by 2028.
As per our report South America Electric Bus Market, the market size is valued at US$ 143.25 Million in 2021, projecting it to reach US$ 359.75 Million by 2028. This translates to a CAGR of approximately 14.1% during the forecast period.
The South America Electric Bus Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the South America Electric Bus Market report:
The South America Electric Bus Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South America Electric Bus Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South America Electric Bus Market value chain can benefit from the information contained in a comprehensive market report.
Please tell us your area of interest
(Market Segments/ Regions and Countries/ Companies)
E 1803, Panchshil Towers,
Wagholi, Haveli,
Pune - 412207,
Maharashtra, India
US:+16467917070
sales@businessmarketinsights.com
Get Free Sample For South America Electric Bus Market
