North American Electric Vehicle market is estimated to grow at a CAGR of more than 18.0% during the forecast period. Supportive government regulations, environmental concerns, and subsidies by the government are some of the major factors contributing to the growth of the electric car market in North America. In addition, the target of the government to augment the EV fleet is providing a significant opportunity to the market. For instance, California has set a target of 5 million EVs fleet by 2030. States in the US have also extended their subsidy programs for EV such as Massachusetts will offer a subsidy of $2,500 on BEV and $1,500 on PHEV with at least 25 electric range till 2021. In Canada, the federal government has a target that zero-emission vehicles should be 10% of the new passenger sold by 2025, 30% by 2030 and 100% by 2040. Due to this, the government is providing an incentive for electric cars. As per the Federal ZEV purchase incentive program. Under the scheme, the people can get an incentive of $2,500 to $5,000 while purchasing the EVs. Moreover, one can get incentives ranging from $625 to $5,000 when taking cars on lease. Restraint to the market is the downfall in EV sales in 2019 in the US, due to the high cost of EV and stable fossil fuel prices.
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Major regions are discussed here includes Europe, Middle East, Africa, North America, Latin America and Asia Pacific. Target audience has grown fast therefore it is important to understand their needs and nothing is better than referring a good North American Electric Car Market research report as it covers all the details. Such report allows business owners to well-serve them. Market research also allows enhancing customers’ buying decision and provides detailed information on pricing structure of major regions. Important data collection about the entire market is essential for market growth and North American Electric Car Market report is the best medium to attain this.
North American Electric Car Market research report also allows testing novel product features and gathering feedback from target customers. It works as the best guide in the product development. Another key part covered in this North American Electric Car Market report is it allows making effective communication with customers and understanding competitors in the market. It further aims at providing accurate view of where to stack up in comparison. It provides understanding of position of different competitors in the market to spot out their strengths as well as weaknesses to help key players in addressing them better. Thorough data provided here includes competitive analysis for the estimation period 2022-2028 allows getting actionable insights into a huge amount of data of competitors. Secondary research technique can also be used to collect important market data. North American Electric Car Market research report refers to the activity of collecting data related to market preferences as well as requirements. It affects each aspect of the business including product, consumer service and the brand. North American Electric Car Market report also allows following important steps to fulfill the needs and reduce the risk involved in the business. Latest corona virus related details are also shared in this market study report to make aware about current market position and its impact on market.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
North American Electric Car Market by Vehicle Type
- Sedan
- Hatchback
- SUV
North American Electric Car Market by Propulsion Technology
- Battery
- Plug-in Hybrid
- Fuel Cell
North American Electric Car Market by Battery Type
- NiMH
- Li-Ion
- Others
Regional Analysis
- United States
- Canada
Company Profiles
- BMW AG
- Audi AG
- Daimler AG
- Fiat Chrysler Automobiles N.V.
- Ford Motor Co.
- General Motors Co.
- Groupe PSA
- Jaguar Land Rover Ltd.
- Kia Motors Corp.
- Mitsubishi Motors Corp.
- Nissan Motor Co.
- Renault Group
- Tesla, Inc.
- Volkswagen AG
The Report Covers
- Comprehensive research methodology of the North American Electric Car Market.
- This report also includes a detailed and extensive market overview with key analyst insights.
- An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the North American Electric Car Market.
- Insights about market determinants which are stimulating the North American Electric Car Market.
- Detailed and extensive market segments with regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.
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