South America Electric Vehicle Charging Equipment Market

South America Electric Vehicle Charging Equipment Market Analysis

The South America Electric Vehicle Charging Equipment Market size is estimated at 6.17 thousand units in 2025, and is expected to reach 14.66 thousand units by 2030, at a CAGR of 18.89% during the forecast period (2025-2030).

• Over the medium term, factors like the increasing adoption of electric vehicles and the supportive government policies and initiatives in development of electric vehicle infrastructure are likely to drive the EV charging equipment market during the forecast period.
• On the other hand, high installation costs associated with setting up charging stations and maintenance costs are expected to hinder the market's growth during the forecast period.
• Nevertheless, the growing technological advancements in EV charging Equipment and the emerging demand for EV charging in commercial buildings are expected to provide significant opportunities for the South America EV charging equipment market during the forecast period.

South America Electric Vehicle Charging Equipment Market Trends

Public Charging Segment to Dominate the market

• During the forecast period, the public charging segment is set to experience substantial growth, fueled by various factors. The increasing adoption of electric vehicles (EVs) across South America, spurred by environmental concerns and government incentives for clean transportation, is driving a significant demand for public charging infrastructure and related equipment. Additionally, technological advancements in charging technology, such as fast-charging capabilities and enhanced efficiency, are expected to bolster the expansion of public charging infrastructure in the region.
• Countries like Brazil and Chile lead South America in the number of public EV charging stations. According to the International Energy Agency (IEA), Brazil boasted around 3,805 publicly available EV charging points in 2023, while Chile had 1,070. This publicly accessible charging infrastructure has been on a steady rise, a trend projected to persist.
• Moreover, collaborations between governments, private entities, and international organizations are pivotal in accelerating the establishment of EV charging networks in South America. These partnerships drive investments in charging infrastructure projects, such as installing charging stations on highways and urban areas, enhancing the feasibility and convenience of electric vehicle ownership for consumers.
• For instance, in early 2022, Enel X and Petrobras Chile inked a deal to set up public fast-charging points across Petrobras’ service station network nationwide. Currently, Petrobras operates fast-charging points at two service stations, with 24 more in the pipeline. Looking ahead, the aim is to establish at least 150 service stations with public charging points by 2025.
• In March 2024, a partnership between ABB and the Graal Group is spearheading the development of an EV charging network for Brazil’s major cities. ABB reports that over 40 fast and semi-fast chargers are being set up at Graal's forecourts and service stations across five key states: São Paulo, Minas Gerais, Rio de Janeiro, Santa Catarina, and Rio Grande do Sul. This addition of ten fast and 31 semi-fast chargers marks a significant step in Brazil's shift from a fossil fuel-dependent mobility network to one that embraces electric vehicles.
• In March 2023, Parque Arauco S.A. and Enel X Way unveiled the “Green Park” at Parque Arauco Kennedy, marking Latin America's largest public electric vehicle charging station. Located in Chile's Parque Arauco Kennedy Mall, the station features 170 JuiceBox socket charging stations spread across parking levels -1 and -2. This initiative, a collaboration between Kia Chile and Inversiones Security, aims to promote electromobility in the nation. Enel X Way played a crucial role as a strategic partner in setting up the charging infrastructure.
• The Chilean government's “National Electromobility Strategy” aims for a complete transition to electric vehicle sales by 2035. To support this vision, a robust EV charging infrastructure and incentives for electric transport development are deemed essential. These efforts are crucial for the country's decarbonization plan and the evolution of resilient cities. Such initiatives are expected to significantly boost the deployment of public EV charging infrastructure, subsequently driving the growth of the South American EV charging equipment market.
• In summary, the public charging segment in South America is on the brink of significant expansion, driven by technological advancements, a commitment to sustainable transportation, and concerted efforts to bolster charging infrastructure.

Brazil is Expected to Dominate the Market

• Brazil stands out as a key player in the South American electric vehicle (EV) charging equipment market, and projections indicate its continued dominance. Data from the International Energy Agency (IEA) reveals that Brazil boasted approximately 3,805 publicly available EV charging points in 2023, marking a notable 26% increase from the 3,005 points recorded in 2022. This uptick in public EV charging points is anticipated to persist, driven by the surging adoption of EVs and proactive government initiatives, signaling robust growth for the country's EV charging equipment market in the foreseeable future.
• Recently, Brazil has seen a swift uptick in EV adoption, bolstered by government incentives. In 2023, Brazil's EV car sales reached about 52,000 units (33,000 PHEV and 19,000 BEV), a significant jump from 2022's 18,500 units (10,000 PHEV and 8,500 BEV). This surge in EV sales underscores the escalating demand for a more robust EV charging infrastructure.
• Echoing a global trend, Brazil is actively working to curtail carbon emissions and reduce its fossil fuel reliance. To facilitate this shift towards electric mobility, the government has rolled out various subsidies and incentives. A notable initiative is the Green Mobility and Innovation Programme launched at the end of 2023, offering over BRA 19 billion in tax incentives from 2024 to 2028 for companies focusing on low-emission transport technologies.
• In response to these initiatives, several prominent car manufacturers in Brazil are pivoting towards hybrid ethanol-electric models. For instance, in 2023, China's BYD and Great Wall, eyeing local battery metal deposits, are set to commence domestic manufacturing. BYD, marking its first electric car plant outside Asia, is channeling over USD 600 million into a facility with a projected annual capacity of 150,000 vehicles. Furthermore, in collaboration with Raízen, BYD is spearheading the development of charging infrastructure across eight Brazilian cities, commencing in 2024. Such strategic moves are poised to bolster the EV charging equipment landscape in Brazil.
• As Brazil expands its network of charging stations, the country is paving the way for broader EV adoption. While private charging solutions exist in homes and businesses, publicly accessible chargers are vital for convenience, akin to traditional vehicle refueling. This emphasis on public charging infrastructure is set to attract further investments, especially in fast-charging stations in urban hubs and along highways. According to the National Platform for Electric Mobility (PNME), a collaborative initiative involving the Brazilian government, industry leaders, and academia, Brazil aims to establish 10,000 public and semi-public charging stations by 2025. Such developments signal a bullish outlook for Brazil's EV charging equipment market.
• Furthermore, rising environmental consciousness among consumers is driving the demand for electric vehicles and their charging infrastructure. As sustainability becomes a priority for many, Brazil's market for EV charging equipment is set for sustained growth.

South America Electric Vehicle Charging Equipment Industry Overview

The South America electric vehicle (EV) charging equipment market is semi-fragmented. Some of the key players in the market (not in any particular order) include Blink Charging Co., Delta Electronics Inc., ABB Ltd, Siemens AG, and Robert Bosch GmbH.

South America Electric Vehicle Charging Equipment Market Leaders

South America Electric Vehicle Charging Equipment Market News

• April 2024: Copec Voltex announced that it completed the implementation of five new fast charging points for electric vehicles (EVs) across southern cities of Chile. In order to continue promoting e-mobility throughout the country, the company has established the equipment in the cities of Talca, Puerto Montt, Osorno, Coyhaique, and Punta Arenas. In addition, it added another charger in Chiloé, which will be ready in the coming days. These latest additions are part of the "+Carga Rápida" program, a joint project to deploy fast charging infrastructure.
• February 2024: Raizen, a leading Brazilian energy firm, and the Chinese automaker BYD have joined forces to create a network of about 600 charging stations for EVs in eight Brazilian cities. The companies aim to meet the forthcoming demand for charging infrastructure in a small but rapidly growing market. The charging points are planned to be installed under the Shell Recharge brand over the next three years in Sao Paulo, Rio de Janeiro, and six other state capitals in Brazil. Shell and conglomerate Cosan control Raizen.