The Mexico Electric Vehicle Market was valued at US $ 117.41 Mn. in 2023, and it is expected to reach US $ 261.67 Mn. by 2030 with a CAGR of 12.13% during the forecast period.
Mexico City is the fifth most populous city in the world, with 21 million residents and 33.4 million cars. Due to high levels of traffic and pollution, the Mexican government is compelled to investigate different technology options to enhance city mobility. The Mexican government is worried about the significant rise in commute times and higher levels of air pollution caused by 100-161 (MP2.5) emitted by the daily movement of millions of vehicles between Mexico City and the metropolitan zone. Germany, India, Ireland, Israel, and the Netherlands are set to eliminate fossil fuel cars by 2030; the United Kingdom, France, Taiwan, and California might do so by 2040; while Norway is expected to do the same by 2025. It is anticipated that diesel vehicles will be prohibited in Paris, Rome, Madrid, Athens, and Mexico City by 2025.
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Mexico’s climate laws require a 50% decrease in emissions by 2050 (compared to 2000 levels) and a 35% rise in renewable energy by 2024. From 2014 to 2022, Mexico City aims to decrease emissions by 30% (equivalent to 8 to 10 million tonnes of CO2) compared to the usual business practices. In Mexico City’s Metropolitan Area, about 6.3 million daily trips, or 29%, are made using private vehicles. Nearly 60.60% utilize low-capacity public transportation options such as mini busses, vans, suburban buses, and taxis. Only 8% of trips are taken on mass public transportation systems like the Metro, Metrobus, light train, and trolley bus, while 2.40% are by bicycle and motorcycle. Mexico City has two prepaid card systems for BRT: Metrobus and Mexibus.
Sept 2024, The Latin American Post, Mexico: Didi one of the world’s largest ride-hailing companies, plans to invest 1,000 million pesos and introduce 100,000 EV into Mexico.
Aug 2, 2024, ETN News: BYD a Canadian automotive company set to conquer the Mexican roads.
June 21, 2024, East Asia forum: reported China’s EV export to Mexico despite USA’s protectionist measures against the same.
May 14, 2024, Mexico Daily News: reported rise in EV and hybrid vehicle sale in Mexico.
Apr 23, 2024, Financial express: Sona Comstar Indian automotive technology company set up a base in the Fipasi Industrial Park, Silao, Mexico.
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Mexico Electric Vehicle Market Segmentation
by Type
Battery Electric Vehicle (BEV)
Plug-in Hybrid Electric Vehicle (PHEV)
Hybrid Electric Vehicle (HEV)
by Vehicle Type
Two Wheelers
Passenger Cars
Commercial Vehicles
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Mexico Electric Vehicle Market Key Players
ABB Ltd.
Emerson Electric Co.
General Electric Co.
Honeywell International Inc.
Schneider Electric SE
Rockwell Automation Inc.
Yokogawa Electric Corp.
Omron Corporation
Keyence Corporation
Mitsubishi Electric Corporation
Pilz GmbH & Co. KG.
Sick AG
Balluff GmbH
Banner Engineering Corp.
Siemens AG
Others
Key questions answered in the Mexico Electric Vehicle Market are:
What was the Market size in 2023?
What is the growth rate of the Market?
Which are the factors expected to drive the Market growth?
What are the different segments of the Market?
𝐅𝐨𝐫 𝐚 𝐝𝐞𝐞𝐩𝐞𝐫 𝐮𝐧𝐝𝐞𝐫𝐬𝐭𝐚𝐧𝐝𝐢𝐧𝐠, 𝐜𝐥𝐢𝐜𝐤 𝐨𝐧 𝐭𝐡𝐞 𝐥𝐢𝐧𝐤: https://www.maximizemarketresearch.com/market-report/mexico-electric-vehicle-market/64075/
Key Offerings:
Past Mexico Electric Vehicle Market Size and Competitive Landscape (2018 to 2022)
Past Pricing and price curve by region (2018 to 2022)
Mexico Electric Vehicle Market Size, Share, Size & Forecast by Different Segment | 2024-2030
Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
Mexico Electric Vehicle Market Segmentation – A detailed analysis by segment with their sub-segments and Region
Competitive Landscape – Profiles of selected key players by region from a strategic perspective
Competitive landscape – Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER’s analysis
Value chain and supply chain analysis
Legal Aspects of Business by Region
Lucrative business opportunities with SWOT analysis
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