The US Electric Vehicle market is estimated to grow at a CAGR of more than 18.0% during the forecast period. The major factor driving the market include supportive government regulations for electric vehicles and charging infrastructure. The growing environmental concerns along with cohesive government initiatives are some other aspects to fuel the market growth in the country. However, a downfall in EV sales is registered in 2019, due to the high cost of EV and stable fossil fuel prices. Around 325,000 EVs were sold in the US in 2019 which is around 2% of the total vehicle sales in the country. The downfall is registered despite the increase in the EV vehicle models available in the market (45 new EV models were introduced in the market). However, the government targets to increase the EV fleet, which is providing a significant opportunity to the market. For instance, California has set a target of 5 million EVs by 2030. Some states in the US have also extended their subsidy programs 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.
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Industry forecasting is performed to present in-depth understanding of industry tactics. A clear picture on current and upcoming market happenings are provided in this report. Critical factors are highlighted in this US Electric Car Market study report for enabling business owners take important decision making in terms of decide on the right business doing ideas. Moreover, it aims at offering forthcoming improvements, market restraints and market drivers for the forecast period 2022-2028. It assists novel firms to retain their place in the market. Prioritized market info is discussed through this detailed US Electric Car Market
This Market report predicts novel product introduction will bring drop in sales or growth in sales. Such an illustrative US Electric Car Market report enables major firm to stay reorganized on the most current trends and offers best idea about overall demand for particular product offering. Through this global report, it is also possible to acquire a competitive edge. All the COVID-19 related information is covered in this US Electric Car Market study report along with its major impact of globe’s major firms. It makes easy the work of key players and enables to take data-driven and beneficial decision in terms of making best investments, which techniques to apply and marketing budget of different products. It has many advantages to provide for available or novel services, product and brands. Methodologies captured in this market study report enable central participants to attain the best results to the specific business aims as well as challenges. Getting fast customer feedback is easy with this market study report.
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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
US Electric Car Market by Vehicle Type
- Sedan
- Hatchback
- SUV
US Electric Car Market by Propulsion Technology
- Battery
- Plug-in Hybrid
- Fuel Cell
US Electric Car Market by Battery Type
- NiMH
- Li-Ion
- Others
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 US 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 US Electric Car Market.
- Insights about market determinants which are stimulating the US 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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