Report Description

According to ConsTrack360, the electric vehicle market in the country are expected to grow by 17.1% on an annual basis to reach US$1.2 billion in 2023.

The medium to long term growth story of the electric vehicle market in Brazil remains strong. Electric vehicle adoption is expected to grow steadily over the forecast period, recording a CAGR of 21.9% during 2023-2027. The electric vehicle market in the country will increase from US$1.0 billion in 2022 to reach US$2.6 billion by 2027.

The electric vehicle market in Brazil is poised for accelerated growth over the next five years. The industry growth will be primarily driven by government initiatives and private sector investment in the Brazilian market. Regional players, alongside global giants, have already announced plans to invest and kick-start electric vehicle production in the Latin American country.
The domestic production activities are expected to aid the electric vehicle penetration rate over the next three to four years. Investment in building electric vehicle charging infrastructure is also projected to rise from the short to medium-term perspective. Overall, ConsTrack360 maintains a positive growth outlook for the Brazilian market over the next three to four years.

Private investment to drive domestic electric vehicle manufacturing capabilities in Brazil

Looking at the growth of the electric vehicles market in Brazil and other regional countries, regional and global players in the sectors are setting up their manufacturing base in Brazil, driving significant investment in the electric vehicles industry.

  • Bravo Motor Company, for instance, entered into a partnership with Rockwell Automation and Swiss firm ABB to build a US$5 billion worth of electric mobility complex. The facility is expected to commence production in 2024 and will be the first factory in Brazil producing electric vehicles, batteries, and other related components.
  • Great Wall Motors, the Chinese firm, has also announced an investment of US$2 billion over the next ten years, 2022-2032. By H1 2024, the firm is planning to produce 100,000 electric vehicles a year in Brazil. The firm is focused on integrating AI and facial recognition in its EVs manufactured in Brazil.
  • BYD, another Chinese electric vehicle firm, has also announced an investment of US$600 million to build three facilities in Brazil. These manufacturing plants will have the capacity to produce 150,000 electric vehicles per year.



Going forward, ConsTrack360 expects more such private investment to enter into the Brazilian market from the short to medium-term perspective. These investment projects will subsequently aid the growth of the broader market in Brazil.

Ride-hailing firms are boosting the number of electric vehicles in their fleets in Brazil

The growth of the electric vehicles market will also be supported by the growing adoption of EVs among ride-hailing firms, who are increasingly adding electric vehicles into their fleets in 2023.

  • 99, the Brazilian ride-hailing firm, is planning to double the number of electric vehicles before the end of H1 2024. By the end of 2025, the firm is planning to have 10,000 electric vehicles on its platform, whereas it aims to achieve 100% by 2030. At present, the ride-hailing platform has 750,000 monthly active drivers on the platform.


Going forward, ConsTrack360 expects more such firms in the Brazilian market to increase their investment in sustainable mobility solutions, thereby aiding the growth of the electric vehicles market from the medium to long-term perspective.

One of the major concerns hindering the adoption of electric vehicles among consumers is the availability of charging points across major highways and road networks. Consequently, to boost the adoption and EV penetration rate, firms are increasing their investment in the development of EV charging infrastructure.

  • General Motors, for instance, has entered into strategic collaborations to expand the electric vehicle charging solutions in Brazil. The firm partnered with WEG and Eletricus, the companies that specialize in electric vehicle charging technologies.
  • Blink Charging Co., the global provider of EV charging equipment and services, also announced that the firm is planning to expand its footprint in the Latin American markets, including Brazil, Argentina, and Peru. Since its presence in the region, in 2020, the firm has deployed more than 2,100 EV chargers across eight countries. The announcement, made in August 2023, will further strengthen its position in the Brazilian market.



From the short to medium-term perspective, ConsTrack360 expects more such firms to increase their investment towards the development of EV charging infrastructure, thereby supporting higher adoption. This will subsequently aid the growth of the broader market from the short to medium-term perspective in Brazil.

This report provides a detailed data-centric analysis of the electric vehicle and charging infrastructure market, value and volume metrics covering market opportunities and risks across a range of industry categories. with over 75+ KPIs at the country level, this report provides a comprehensive understanding of electric vehicle market dynamics, market size and forecast, and charging infrastructure market statistics.

This report provides the overall vehicle market of the country by value and volume. Further, it breaks down electric and charging infrastructure market. Electric vehicle further breaks down market opportunity by type of vehicle driven, car segments, class of vehicles, propulsion type, distance range and by components in Brazil.

The electric vehicle charging infrastructure provides market size data by number of charging stations, and number of charging points. It breaks down market opportunity by type of chargers, by location of charging points, by charging speed, by connection phase, by type of connectivity and by charger connectivity infrastructure.

ConsTrack360’s research methodology is based on industry best practices. Its unbiased analysis leverages a proprietary analytics platform to offer a detailed view of emerging business and investment market opportunities.


Scope

This report provides in-depth data-centric analysis of Electric Vehicle and Charging Infrastructure Market in Brazil through 97 tables and 119 charts. Below is a summary of key market segments:

Brazil Overall Vehicle Market Size and Future Growth Dynamics

  • Market size by value
  • Market size by volume




Brazil Electric Vehicle Market Size and Forecast

  • Market size by value
  • Market size by volume



Brazil Electric Vehicle Market Volume By Drive Segment

  • Front Wheel Drive
  • Rear Wheel Drive
  • All-Wheel Drive



Brazil Electric Vehicle Market Value and Volume By Car Segment

  • Passenger Car
  • Commercial Vehicle



Brazil Electric Vehicle Market Value and Volume By Passenger Car Segment

  • Small Car
  • Medium Car
  • Crossover Car
  • Large Car
  • SUV



Brazil Electric Vehicle Market Value and Volume By Commercial Vehicle Segment

  • Light Duty Vehicle (Class 1-Class 3)
  • Medium Duty Vehicle (Class 4-Class 6)
  • Heavy Duty Vehicle (Class 7-Class 8)



Brazil Electric Vehicle Market Value By Vehicle Class

  • Low-Priced
  • Mid-Priced
  • Luxury Class



Brazil Electric Vehicle Market Value By Powertrain

  • Parallel Hybrid
  • Series Hybrid
  • Combined Hybrid



Brazil Electric Vehicle Market Value By Distance Range

  • Up to 150 Miles
  • 151-300 Miles
  • Above 300 Miles



Brazil Electric Vehicle Market Value By Charging Type

  • Normal Charging
  • Super Charging



Brazil Electric Vehicle Market Value By Propulsion Type

  • Plug-In Hybrid Electric Vehicles (PHEVs)
  • Battery Electric Vehicles (BEVs)
  • Hybrid Electric Vehicles (HEVs)
  • Fuel Cell Electric Vehicles (FCEVs)



Brazil Electric Vehicle Market Value and Volume By Vehicle Type

  • Two Wheelers (e2W)
  • Three-Wheeler (e3W)
  • Four Wheelers (e4W)
  • Electric Buses



Brazil Electric Vehicle Market Value By Cities

  • Tier 1 Cities
  • Tier 2 Cities
  • Tier 3 Cities



Brazil Electric Vehicle Market Value By Components

  • Battery Cells & Packs
  • On-Board Charge
  • Motor


? Reducer

  • Power Control Unit
  • Battery Management System
  • Fuel Processor
  • Power Conditioner
  • Air Compressor
  • Humidifier



Brazil Electric Vehicle Infrastructure Market Value

Brazil Electric Vehicle Infrastructure Market Volume

  • Number of Charging Points
  • Number of Charging Stations



Brazil Electric Vehicle - Number of Charging Points By Charging Type

  • Level 1 – 240 (V)
  • Level 2 – 120 (V)
  • Direct Current (DC)



Brazil Electric Vehicle - Number of Charging Stations By Charging Type

  • Level 1 – 240 (V)
  • Level 2 – 120 (V)
  • Direct Current (DC)



Brazil Electric Vehicle - Number of Charging Points By Location

  • Residential and Destination
  • Streets
  • Workplaces
  • Flew depots



Brazil Electric Vehicle - Number of Charging Points By Charging Speed

  • Slow
  • Fast
  • Rapid
  • Ultrarapid



Brazil Electric Vehicle - Number of Charging Stations By Charging Speed

  • Slow
  • Fast
  • Rapid
  • Ultrarapid



Brazil Electric Vehicle - Number of Charging Points By Vehicle

  • Passenger Cars
  • Buses
  • Trucks
  • Light Commercial Vehicles



Brazil Electric Vehicle - Number of Charging Points By Connection Phase

  • Single Phase
  • Three Phase



Brazil Electric Vehicle - Number of Charging Points By Infrastructure Type

  • CSS
  • CHAdeMO
  • GB/T
  • Other



Brazil Electric Vehicle - Number of Charging Points By Connectivity

  • Smart Charging Station
  • Non-Connected Charging Station




Reasons To Buy

The report provides a comprehensive overview of the Brazil electric vehicle market and infrastructure, covering the following key aspects:

  • Market size by value and volume: This report provides detailed market size and forecast data for electric vehicles in Brazil, by value and volume. This data is essential for understanding the current and future potential of the market.
  • Detailed EV market opportunity: This report segments the electric vehicle market by drive segment, car segment, commercial vehicle segment, passenger car segment, commercial vehicle segment, vehicle class, powertrain, distance range, charging type, propulsion type, vehicle type, and cities. This segmentation provides a granular view of the market and helps to identify key growth areas.
  • EV infrastructure: This report also provides a comprehensive overview of the Brazil electric vehicle infrastructure market, including market size and forecast data, along with detailed market segmentation. This information is essential for businesses that are looking to invest in the Brazil electric vehicle infrastructure market.
  • Assess risks: Granular segment level information helps in identifying new business opportunities and risks in the Brazil electric vehicle and infrastructure market.