US Electric Vehicle Market Competitive Landscape, Growth, Segmentation and Outlook

Electric Vehicle Market is expected to grow at 37.1 % through 2022 to 2029, US Electric Vehicle Market is reaching nearly USD 219.05 Bn by 2029.

Electric Vehicle Market Report Scope and Research Methodology

Report Scope:

The US Electric Vehicle Market Research Report offers an extensive analysis of the electric vehicle market in the United States, covering market values, report scope, research methodology, drivers, restraints, and regional insights. This report serves as a vital resource for industry stakeholders.

Research Methodology:

Our research methodology involves rigorous data collection and expert insights to ensure the accuracy and reliability of information related to the US electric vehicle market. We utilize both primary and secondary research methods to provide high-quality data and insights.

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What are Electric Vehicle Market Dynamics?

Market Drivers:

Electric vehicles (EVs) are vehicles powered by one or more electric or traction motors, offering varying degrees of electrification. EVs contribute to noise pollution reduction in cities and accounted for approximately 2.4% of new car sales in 2020. States and municipalities with robust support for the electric vehicle market continue to lead in terms of policy support. Electric two-wheelers and electric buses, particularly in areas with point-to-point charging infrastructure, are recommended by governments to reduce pollution and noise. Electric motors are highly efficient, using 90-95% of input energy for propulsion while emitting zero pollutants. However, challenges exist in terms of battery cost and range for battery electric vehicles (BEVs).

Market Restraints:

Widespread adoption of light-duty electric vehicles necessitates a review and potential adjustment of the US electric power generation and distribution infrastructure. While EV technology advancements are expected to enhance efficiency, the trend toward larger, less efficient vehicles may increase energy consumption per mile. The electric vehicle industry presents both economic development opportunities and challenges, including the potential to reduce utility rate growth, which may initially seem counterintuitive for a technology that increases overall electricity usage.

Electric Vehicle Market Segmentation?

The US Electric Vehicle Market is segmented by type into Battery Electric Vehicles (BEVs), Plug-in Hybrid Electric Vehicles (PHEVs), and Hybrid Electric Vehicles (HEVs).

BEVs accounted for the largest revenue share in 2020, approximately 75%, and are expected to maintain their dominance during the forecast period, driven by increased environmental awareness and consumer preference.

PHEVs are projected to grow at a CAGR of over 40% in terms of revenue from 2021 to 2028, fueled by government programs promoting electric vehicle use, particularly in the United States and Canada.

A broader range of electric vehicle models and higher sales are anticipated as a result of state ZEV regulations and incentives, boosting the electric vehicle market.

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Who are Electric Vehicle Market Key Players?

• BMW
• Mercedes Benz
• Bollinger
• Bollore
• Microlino
• Mistubishi
• Nissan
• Tesla
• Volkswagen.
• Alstom‎
• PSA Group‎
• General Motors
• Lucid Motors
• Rivian Vehicles
• National Motor Vehicle Company
• Nikola Corporation

Table of content for the Electric Vehicle Market includes:

Part 01: Executive Summary

Part 02: Scope of the Electric Vehicle Market Report

Part 03: US Electric Vehicle Market Landscape

Part 04: US Electric Vehicle Market Sizing

Part 05: US Electric Vehicle Market Segmentation by Type

Part 06: Five Forces Analysis

Part 07: Customer Landscape

Part 08: Geographic Landscape

Part 09: Decision Framework

Part 10: Drivers and Challenges

Part 11: Market Trends

Part 12: Vendor Landscape

Part 13: Vendor Analysis

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Regional Insights:

California's stringent air-quality regulations have driven electric vehicle sales in the United States. The state offers various incentives, including subsidies for electric and hybrid vehicle component replacement, promoting electric car sales. Other states have also enacted ZEV rules to reduce emissions, contributing to the growth of electric vehicle sales.

Charging infrastructure plays a pivotal role in electric vehicle adoption. More extensive infrastructure deployment is necessary to enhance driver convenience and boost confidence among prospective electric vehicle owners. Several US cities have deployed public DC fast charging infrastructure at rates exceeding the national average.

Regulations mandating the availability of electric vehicle models are essential for industry growth. States with ZEV rules tend to have more electric vehicle models available and higher electric car sales. Federal regulations, including ZEV rules, play a significant role in promoting electric vehicle models' production.

Key Offerings:

Past Market Size and Competitive Landscape (2018 to 2021)
Past Pricing and price curve by region (2018 to 2021)
Market Size, Share, Size & Forecast by different segment | 2022-2029
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation - A detailed analysis by Product
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations

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