Latin America electric vehicle charging infrastructure market is expected to grow at a CAGR of 36.5% during 2019-25

Technological electric grid upgradation would spur the growth of Latin America electric vehicle charging infrastructure market during the forecast period-6Wresearch

Latin America electric vehicle charging infrastructure market would witness significant growth over the  coming years due to popularization of electric vehicles across the region. Additionally, rising inclination of the countrymen towards electric mobility is further expected to contribute towards an effective growth of Latin America electric vehicle charging infrastructure market over the coming years.

According to 6Wresearch, Latin America electric vehicle charging infrastructure market is expected to grow at a CAGR of 36.5% during 2019-25. Willingness of the countrymen to contribute towards clean environment owing to worsening climatic conditions in the developed countries across the region is expected to trigger the  growth of Latin America electric vehicle charging infrastructure market during the forecast period.

According to Prithu Chawla, Research Analyst, Research and Consulting, 6Wresearch, “Mexico accounts for the largest market share in the overall Latin America electric vehicle charging infrastructure market, along with a maximum number of charging stations registered till date across the region”. Furthermore, smart cities initiatives by the government are also contributing towards the installation of electric vehicle chargers in the developed countries across the region and would contribute towards the growth of the Latin America electric vehicle charging infrastructure market during the forecast period.

According to Deepanshi Arora, Research Associate, Research and Consulting, 6Wresearch, “The residential application in Latin America electric vehicle charging infrastructure market is expected to yield the highest growth rate owing to mass availability of home chargers and huge dependency of the countrymen towards residential charging systems across the region. Additionally, increased private investment in the development and improvisation of residential charging systems are further expected to benefit the residential application in the electric vehicle charging infrastructure market over the coming years.

Some of the key players in Latin America electric vehicle charging infrastructure market include Schneider Electric, Nissan Motor Co. Ltd., ABB Ltd., Tesla Inc., Shell Global, Wallbox, Renault, Virta Global, General Electric and ChargePoint Inc.

“Latin America Electric Vehicle Charging Infrastructure Market (2019-2025)” report thoroughly covers the market by types, applications and by countries including Mexico and rest of the Latin America. The Latin America electric vehicle charging infrastructure market outlook report provides an unbiased and detailed analysis of the on-going Latin America electric vehicle charging infrastructure market trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.