North America Electric Vehicle Market Size to Surpass USD 60.36 Billion by 2030, Share, Global Trends, Segmentation and Competitive Outlook

Data Bridge Market Research analyses that the North America Electric Vehicle Market was valued at USD 11.3 billion in 2022 and is expected to reach the value of USD 60.36 billion by 2030, at a CAGR of 23.3% during the forecast period of 2023-2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

This electric vehicle market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the electric vehicle market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

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Electric Vehicle Market Drivers

Favourable government policies and investments

Governments around the world are increasing their investments in electric mobility. Government regulations to phase out fossil-fuel-powered vehicles, government investments to improve public EV charging infrastructure, and initiatives in the form of subsidies and tax rebates to encourage EV adoption are expected to support market growth. Governments are investing in charging infrastructure, either directly in public charging stations or indirectly through subsidies for private charging stations at homes and workplaces.

Growth in vehicle sales

One of the major factors driving the growth of the electric vehicle market is the increase in EV sales around the world. Due to the rising environmental consciousness, consumer preference is rapidly shifting toward passenger and commercial electric vehicles (EV). The increase in production and sales of luxury cars around the world as a result of rising disposable income accelerates market growth. The increased demand for these improved vehicles drives up vehicle production.

Opportunities

High adoption from transportation sector

High demand for electric vehicles in the automotive and transportation sectors creates profitable opportunities for market participants from 2023 to 2030. Furthermore, government initiatives pertaining to EVs will accelerate the growth of the electric vehicle market.

Restraints

High initial investments

The high initial investment required to install EV fast charging infrastructure and a lack of sufficient EV charging infrastructure are expected to stymie market growth. Furthermore, high vehicle costs and insufficient standardisation of EV charging infrastructure are expected to be challenges for the electric vehicle market during the forecast period.

Key players operating in the North America Electric Vehicle market include:

Ford Motor Company (U.S.)
General Motors (U.S.)
AUDI AG (Germany)
Kia Motors Corporation (South Korea)
Groupe Renault (France)
Groupe PSA (France)
SAIC Motor Corporation Limited (China)
Tesla (U.S.)
Daimler AG (Germany)
BMW AG (Germany)
Hyundai Motor Company (South Korea)
BYD Company Ltd. (China)
Continental AG (Germany)
TOYOTA MOTOR CORPORATION (Japan)
Nissan Motor Co., LTD. (Japan)
Volkswagen AG (Germany)
AB Volvo (Sweden)
Honda Motor Co., Ltd. (Japan)

To Gain More Insights into the Market Analysis, Browse Summary of the North America Electric Vehicle Market Report@ https://www.databridgemarketresearch.com/reports/north-america-electric-vehicle-market

North America Electric Vehicle Market Segmentations:

Component

Battery Cells & Packs
On-Board Charger
Infotainment System
Others

Propulsion

Plug-In Hybrid Electric Vehicles (PHEVs)
Battery Electric Vehicles (BEVs)
Hybrid electric vehicles (HEVs)
Fuel cell electric vehicles (FCEVs)

Charging station type

Normal Charging
Super Charging

Class

Mid-Priced
Luxury

Power Train

Parallel Hybrid
Series Hybrid
Combined Hybrid

Vehicle Type

Passenger Cars
Two Wheelers
Commercial Vehicles

North America Electric Vehicle Market Country Level Analysis

The North American electric vehicle market is expanding due to increased concern about pollution-free environments, and it is expected to grow at a significant rate from 2023 to 2030 due to an ageing population. For example, the government of California and nine other states, including New York, Oregon, Connecticut, Maine, New Jersey, Maryland, Massachusetts, Rhode Island, and Vermont, have adopted a zero-emission mandate under the Clean Air Act (Section 177). The goal is to sell 15% of zero-emission vehicles (ZEVs).

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of North America brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

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Table of Content: North America Electric Vehicle Market

Introduction
Market Segmentation
Executive Summary
Premium Insights
Market Overview
North America Electric Vehicle Market, By Component
North America Electric Vehicle Market, By Propulsion
North America Electric Vehicle Market, By Charging station type
North America Electric Vehicle Market, By Class
North America Electric Vehicle Market, By Power Train
North America Electric Vehicle Market, By Vehicle Type
North America Electric Vehicle Market, Company Landscape
SWOT Analysis
Company Profile
Questionnaire
Related Reports

New Business Strategies, Challenges & Policies are mentioned in Table of Content, Request TOC@ https://www.databridgemarketresearch.com/toc/?dbmr=north-america-electric-vehicle-market

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