Latin America Electric Bus Market Report and Forecast 2024-2032

Latin America Electric Bus Market Report and Forecast 2024-2032


Market Outlook

According to the report by Expert Market Research (EMR), the Latin America electric bus market is projected to grow at a CAGR of 11.40% between 2024 and 2032. Aided by escalating emphasis on sustainable transportation solutions and the pressing need for urban mobility improvements, the market is expected to grow significantly by 2032.

Electric buses represent a pivotal shift in public transportation within Latin America, offering an eco-friendly alternative to traditional diesel-powered buses. These vehicles are pivotal in addressing the twin challenges of urban air quality and climate change. The adoption of electric buses is driven by their lower operational costs, reduced greenhouse gas emissions, and the potential for leveraging locally sourced renewable energy, thus diminishing dependency on imported fossil fuels.

Several factors contribute to the electric bus market in Latin America. Government policies and initiatives promoting clean energy and sustainable transport are fundamental drivers. Countries like Chile, Brazil, and Mexico have launched ambitious programs to incorporate electric buses into their public transportation fleets, backed by investments in charging infrastructure and incentives for electric vehicle (EV) adoption.

The increasing awareness of environmental issues among the Latin American populace has also spurred demand for cleaner transportation options. The urban population, facing the adverse effects of air pollution firsthand, is advocating for a transition to electric buses. This public demand is further bolstered by international environmental commitments and the global shift towards sustainability, placing additional pressure on governments and transit authorities to adopt greener solutions.

According to the Latin America electric bus market analysis, technological advancements have significantly reduced the barriers to electric bus adoption. Improvements in battery technology have extended the range of electric buses, making them more viable for a broader array of routes. Moreover, the declining cost of batteries is gradually lowering the total cost of ownership for electric buses, making them increasingly competitive with traditional buses over their lifecycle.

The Latin America electric bus market outlook by a mix of local and international manufacturers, each contributing to the region's electric bus ecosystem. Collaborations between governments, bus manufacturers, and technology providers are common, aiming to develop vehicles that meet the specific needs of Latin American cities. These partnerships often focus on not only deploying electric buses but also on establishing the necessary charging and maintenance infrastructure.

Market Segmentation

The market can be divided based on propulsion, length, power output, battery capacity, application, ownership, and country.

Market Breakup by Propulsion
  • Battery Electric Vehicle
  • Plug-in Hybrid Electric Vehicle
  • Fuel Cell Electric Vehicle
Market Breakup by Length
  • Less Than 9 Meters
  • 9-14 Meters
  • Above 14 Meters
Market Breakup by Power Output
  • Up to 250kW
  • Above 250kW
Market Breakup by Battery Capacity
  • Up to 400 kWh
  • Above 400 kWh
Market Breakup by Application
  • Intercity
  • Intracity
Market Breakup by Ownership
  • Private
  • Government
Market Breakup by Country
  • Brazil
  • Mexico
  • Argentina
  • Chile
  • Others
Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the Latin America electric bus market. Some of the major players explored in the report by Expert Market Research are as follows:
  • Mercedes Benz Group AG
  • BYD Company Limited
  • AB Volvo
  • Hyundai Motor Co.
  • Yutong Bus Co., Ltd.
  • Higer Bus Company Limited
  • Eletra Industrial LTDA
  • IVECO S.p.A.
  • Xiamen King Long United Automotive Industry Co., Ltd.
  • Anhui Ankai Automobile Co. Ltd.
  • Others
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.


1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Global Electric Bus Market Overview
8.1 Key Industry Highlights
8.2 Global Electric Bus Historical Market (2018-2023)
8.3 Global Electric Bus Market Forecast (2024-2032)
8.4 Global Electric Bus Market Share by Region
8.4.1 North America
8.4.2 Europe
8.4.3 Asia Pacific
8.4.4 Latin America
8.4.5 Middle East and Africa
9 Latin America Electric Bus Market Overview
9.1 Key Industry Highlights
9.2 Latin America Electric Bus Historical Market (2018-2023)
9.3 Latin America Electric Bus Market Forecast (2024-2032)
10 Latin America Electric Bus Market by Propulsion
10.1 Battery Electric Vehicle
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Plug-in Hybrid Electric Vehicle
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Fuel Cell Electric Vehicle
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
11 Latin America Electric Bus Market by Length
11.1 Less Than 9 Meters
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 9-14 Meters
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Above 14 Meters
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
12 Latin America Electric Bus Market by Power Output
12.1 Up to 250kW
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Above 250kW
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
13 Latin America Electric Bus Market by Battery Capacity
13.1 Up to 400 kWh
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Above 400 kWh
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
14 Latin America Electric Bus Market by Application
14.1 Intercity
14.1.1 Historical Trend (2018-2023)
14.1.2 Forecast Trend (2024-2032)
14.2 Intracity
14.2.1 Historical Trend (2018-2023)
14.2.2 Forecast Trend (2024-2032)
15 Latin America Electric Bus Market by Ownership
15.1 Private
15.1.1 Historical Trend (2018-2023)
15.1.2 Forecast Trend (2024-2032)
15.2 Government
15.2.1 Historical Trend (2018-2023)
15.2.2 Forecast Trend (2024-2032)
16 Latin America Electric Bus Market by Country
16.1 Brazil
16.1.1 Historical Trend (2018-2023)
16.1.2 Forecast Trend (2024-2032)
16.2 Mexico
16.2.1 Historical Trend (2018-2023)
16.2.2 Forecast Trend (2024-2032)
16.3 Argentina
16.3.1 Historical Trend (2018-2023)
16.3.2 Forecast Trend (2024-2032)
16.4 Chile
14.4.1 Historical Trend (2018-2023)
14.4.2 Forecast Trend (2024-2032)
16.5 Others
17 Market Dynamics
17.1 SWOT Analysis
17.1.1 Strengths
17.1.2 Weaknesses
17.1.3 Opportunities
17.1.4 Threats
17.2 Porter’s Five Forces Analysis
17.2.1 Supplier’s Power
17.2.2 Buyer’s Power
17.2.3 Threat of New Entrants
17.2.4 Degree of Rivalry
17.2.5 Threat of Substitutes
17.3 Key Indicators of Demand
17.4 Key Indicators of Price
18 Competitive Landscape
18.1 Market Structure
18.2 Company Profiles
18.2.1 Mercedes Benz Group AG
18.2.1.1 Company Overview
18.2.1.2 Product Portfolio
18.2.1.3 Demographic Reach and Achievements
18.2.1.4 Certifications
18.2.2 BYD Company Limited
18.2.2.1 Company Overview
18.2.2.2 Product Portfolio
18.2.2.3 Demographic Reach and Achievements
18.2.2.4 Certifications
18.2.3 AB Volvo
18.2.3.1 Company Overview
18.2.3.2 Product Portfolio
18.2.3.3 Demographic Reach and Achievements
18.2.3.4 Certifications
18.2.4 Hyundai Motor Co.
18.2.4.1 Company Overview
18.2.4.2 Product Portfolio
18.2.4.3 Demographic Reach and Achievements
18.2.4.4 Certifications
18.2.5 Yutong Bus Co., Ltd.
18.2.5.1 Company Overview
18.2.5.2 Product Portfolio
18.2.5.3 Demographic Reach and Achievements
18.2.5.4 Certifications
18.2.6 Higer Bus Company Limited
18.2.6.1 Company Overview
18.2.6.2 Product Portfolio
18.2.6.3 Demographic Reach and Achievements
18.2.6.4 Certifications
18.2.7 Eletra Industrial LTDA
18.2.7.1 Company Overview
18.2.7.2 Product Portfolio
18.2.7.3 Demographic Reach and Achievements
18.2.7.4 Certifications
18.2.8 IVECO S.p.A.
18.2.8.1 Company Overview
18.2.8.2 Product Portfolio
18.2.8.3 Demographic Reach and Achievements
18.2.8.4 Certifications
18.2.9 Xiamen King Long United Automotive Industry Co., Ltd.
18.2.9.1 Company Overview
18.2.9.2 Product Portfolio
18.2.9.3 Demographic Reach and Achievements
18.2.9.4 Certifications
18.2.10 Anhui Ankai Automobile Co. Ltd.
18.2.10.1 Company Overview
18.2.10.2 Product Portfolio
18.2.10.3 Demographic Reach and Achievements
18.2.10.4 Certifications
18.2.11 Others
19 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Electric Bus Market: Key Industry Highlights, 2018 and 2032
2. Latin America Electric Bus Historical Market: Breakup by Propulsion (USD Million), 2018-2023
3. Latin America Electric Bus Market Forecast: Breakup by Propulsion (USD Million), 2024-2032
4. Latin America Electric Bus Historical Market: Breakup by Length (USD Million), 2018-2023
5. Latin America Electric Bus Market Forecast: Breakup by Length (USD Million), 2024-2032
6. Latin America Electric Bus Historical Market: Breakup by Power Output (USD Million), 2018-2023
7. Latin America Electric Bus Market Forecast: Breakup by Power Output (USD Million), 2024-2032
8. Latin America Electric Bus Historical Market: Breakup by Battery Capacity (USD Million), 2018-2023
9. Latin America Electric Bus Market Forecast: Breakup by Battery Capacity (USD Million), 2024-2032
10. Latin America Electric Bus Historical Market: Breakup by Application (USD Million), 2018-2023
11. Latin America Electric Bus Market Forecast: Breakup by Application (USD Million), 2024-2032
12. Latin America Electric Bus Historical Market: Breakup by Ownership (USD Million), 2018-2023
13. Latin America Electric Bus Market Forecast: Breakup by Ownership (USD Million), 2024-2032
14. Latin America Electric Bus Historical Market: Breakup by Region (USD Million), 2018-2023
15. Latin America Electric Bus Market Forecast: Breakup by Region (USD Million), 2024-2032
16. Latin America Electric Bus Market Structure

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