South America Electric Vehicle Charging Stations Market - Forecasts from 2024 to 2029

South America's electric vehicle charging stations market is estimated at US$218.576 million in 2024 and is anticipated to attain US$654.532 million by 2029, at a CAGR of 24.53%.

An EV (electric vehicles) charging station is a hub or center that offers charging solutions to these vehicles. This links an EV to a power source, allowing electric vehicles, like passenger cars, two/three wheel EVs, fleets, and electric transport vehicles, to charge their batteries. The EV charging station market is expected to grow significantly in South America, mainly with the increasing ownership of electric vehicles and the introduction of new policies and investment plants to boost the nation's EV infrastructure.

The electric vehicle charging market in the region is expanding significantly, attributed to multiple factors, including rapid urbanization, the introduction of policies and projects by the governments to develop the electric vehicle ecosystem, and increasing demand for electric vehicles in the region. With the increasing demand and popularity of electric vehicles in the region, the need for an efficient and accessible charging solution will increase, creating new opportunities for businesses to invest in the region's electric vehicle charging station market.

South America Electric Vehicle Charging Stations Market Drivers:

• Increasing demand for electric or zero-emission vehicles in South America

One of the major factors driving the South American electric vehicle charging station market growth is its increasing demand for electric vehicles. The International Energy Agency, in its report, stated that in 2023, 90,000 EVs were sold in Latin America. The agency further noted that in Brazil, 14,300 EVs were sold in 2021, including 8,300 Chinese automotive and 6,000 others. The total sales of EVs in Brazil expanded to about 52,300, which constitutes 40,600 from Chinese automakers.

Similarly, the sales of electric or zero-emission vehicles also increased significantly. The National Automotive Association of Chile (ANAC), in its report, stated that in 2023, about 1,588 fully electric vehicles were sold in the nation, an increase of about 22% compared to the previous year.

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Report Coverage:

• Historical data & forecasts from 2022 to 2029
• Growth Opportunities, Challenges, Supply Chain Outlook, Regulatory Framework, Customer Behaviour, and Trend Analysis
• Competitive Positioning, Strategies, and Market Share Analysis
• Revenue Growth and Forecast Assessment of segments and regions including countries
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The South American Electric Vehicle Charging Stations market is segmented and analyzed as follows:

By Vehicle type

• Battery Electric Vehicle (BEVs)
• Plug-in Hybrid Electric Vehicle (PHEV)

By Application

• Commercial
• Residential

By Charging type

• AC Charging (Level 1 and Level 2)
• DC Charging

By Country

• Brazil
• Argentina
• Chile
• Others