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 vehicle) 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 plans 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.
A key driver contributing to the region's Electric Vehicle (EV) Charging Stations market’s growth is the increase in its urbanization rate. With rising urbanization, the demand for efficient and developed transportation infrastructures increases. Urban areas in South America are experiencing a rapid increase in population density. As more people live in cities and metropolitan regions, the demand for transportation solutions, including electric vehicles and charging solutions, rises. This expanding demand necessitates developing charging infrastructure to support the growing number of electric vehicles in urban environments.
Additionally, many cities in South America are embracing the notion of smart cities, targeting sustainability and integrating technology into urban living systems. EV charging infrastructure plays a crucial role in smart city plans, allowing the integration of renewable energy, intelligent grid management, and data-driven charging network optimization. As smart city initiatives gain momentum, the demand for charging stations increases, driving the market growth.
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.
| Report Metric | Details |
|---|---|
| Study Period | 2021 to 2031 |
| Historical Data | 2021 to 2024 |
| Base Year | 2025 |
| Forecast Period | 2026 – 2031 |
| Report Metric | Details |
| South America Electric Vehicle Charging Stations Market Size in 2024 | US$218.576 million |
| South America Electric Vehicle Charging Stations Market Size in 2029 | US$654.532 million |
| Growth Rate | CAGR of 24.53% |
| Study Period | 2019 to 2029 |
| Historical Data | 2019 to 2022 |
| Base Year | 2024 |
| Forecast Period | 2024 – 2029 |
| Forecast Unit (Value) | USD Million |
| Segmentation |
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| Geographical Segmentation | Brazil, Argentina, Chile, Others |
| List of Major Companies in South America Electric Vehicle Charging Stations Market | |
| Customization Scope | Free report customization with purchase |
The South American Electric Vehicle Charging Stations market is segmented and analyzed as follows: