Forecast: Brazil xEV System, Semiconductor and Sensor Demand Forecast 2022 to 2031 – August 2024
TechInsights forecasts Brazil's xEV systems market to grow from $1.3 million in 2023 to $77.5 million by 2031, with a CAAGR of 114%, driven by hybrid platforms and increasing demand for advanced components.
This TechInsights data model presents a view of the Brazil outlook for xEV systems and associated semiconductor and sensor demand. The market remains at an early stage with a primary emphasis towards hybrid platforms. Deployment of battery electric vehicles remains at an early stage with combined volumes still expected to be lower than for hybrid platforms. The limited volumes will impact the associated demand for more advanced xEV semiconductor and sensor components. The market will grow at a CAAGR of 114% over 2023–2028, from just $1.3 million to $58.0 million. The continued momentum will push market demand to $77.5 million by 2031.
