US Electric Vehicle market is estimated to grow at a CAGR of more than 23.0% during the forecast period. The rising need to address future energy requirements is one of the major factors to drive the growth of the market. The EV market is emerging as an integral part of the automotive industry that provides a pathway to achieve a higher level of energy efficiency with a reduced level of pollutant emissions and other greenhouse gases.
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The growing environmental concerns along with cohesive government initiatives are some other aspects to fuel the market growth in the country. In 2017, Atlanta passed a landmark ordinance under which all new residential homes and public parking facilities are required to accommodate electric vehicles and 20% of the spaces in all new commercial and multi-family parking structures to be plug-in ready. Similarly, Vermont’s energy building code requires commercial and residential projects over a certain size to include a percentage of EV supply equipment or EV-ready parking spaces.
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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
US Electric Vehicle Market Report Segment
By Vehicle Type
- Passenger Cars
- Commercial Vehicle
- Two-Wheeler
By Propulsion Technology
- Battery Electric Vehicle (BEV)
- Plug-In Hybrid Electric Vehicle (PHEV)
By Battery Type
- NiMH
- Li-Ion
- Others
The Report Covers
- Comprehensive research methodology of the US Electric Vehicle 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 Vehicle market.
- Insights about market determinants which are stimulating the US Electric Vehicle market.
- Detailed and extensive market segments with regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.
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