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U.S. Electric Vehicle Market to Hit USD 233.46 Billion by 2030 at 25.4% CAGR

12-20-2024 05:26 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Maximize Market Research Pvt. Ltd.

US Electric Vehicle Market

US Electric Vehicle Market

๐”.๐’. ๐„๐ฅ๐ž๐œ๐ญ๐ซ๐ข๐œ ๐•๐ž๐ก๐ข๐œ๐ฅ๐ž (๐„๐•) ๐Œ๐š๐ซ๐ค๐ž๐ญ - ๐†๐ซ๐จ๐ฐ๐ญ๐ก, ๐Ž๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐ž๐ฌ, ๐š๐ง๐ ๐“๐ซ๐ž๐ง๐๐ฌ ๐€๐œ๐ซ๐จ๐ฌ๐ฌ ๐†๐ฅ๐จ๐›๐š๐ฅ ๐‘๐ž๐ ๐ข๐จ๐ง๐ฌ

The U.S. electric vehicle (EV) market continues to lead the transition to sustainable transportation, driven by advancements in battery technologies, government incentives, and growing consumer demand for eco-friendly solutions. The market size was valued at USD 38.18 billion in 2023 and is expected to grow at a CAGR of 25.4% from 2024 to 2030, reaching nearly USD 233.46 billion by 2030. This press release delves into country-specific insights, mergers and acquisitions, and key developments in Vietnam, Thailand, Japan, South Korea, Singapore, the U.S., and Europe.

๐†๐ซ๐š๐› ๐ฒ๐จ๐ฎ๐ซ ๐ฌ๐š๐ฆ๐ฉ๐ฅ๐ž ๐œ๐จ๐ฉ๐ฒ ๐จ๐Ÿ ๐ญ๐ก๐ข๐ฌ ๐ซ๐ž๐ฉ๐จ๐ซ๐ญ ๐ง๐จ๐ฐ: https://www.maximizemarketresearch.com/request-sample/63467/

๐”๐’ ๐„๐ฅ๐ž๐œ๐ญ๐ซ๐ข๐œ ๐•๐ž๐ก๐ข๐œ๐ฅ๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐„๐• ๐†๐ซ๐จ๐ฐ๐ญ๐ก ๐Ž๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐ž๐ฌ ๐ข๐ง ๐•๐ข๐ž๐ญ๐ง๐š๐ฆ:

Vietnam's electric vehicle market is witnessing rapid expansion, supported by government subsidies and tax incentives for EV manufacturers and buyers. Key players like VinFast are driving innovation in the sector, with strategic investments to enhance production capabilities. Recent partnerships with global battery producers have positioned Vietnam as an emerging EV hub in Southeast Asia.

๐”๐’ ๐„๐ฅ๐ž๐œ๐ญ๐ซ๐ข๐œ ๐•๐ž๐ก๐ข๐œ๐ฅ๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐„๐ฆ๐ž๐ซ๐ ๐ข๐ง๐  ๐„๐• ๐“๐ซ๐ž๐ง๐๐ฌ ๐ข๐ง ๐“๐ก๐š๐ข๐ฅ๐š๐ง๐:

Thailand is positioning itself as a regional leader in EV production, with its "30/30" policy aiming for 30% of domestic vehicle production to be electric by 2030. Companies like PTT Group and Great Wall Motors are spearheading initiatives, including new assembly plants and R&D centers. The country's burgeoning EV infrastructure, such as charging stations, complements this growth.

๐”๐’ ๐„๐ฅ๐ž๐œ๐ญ๐ซ๐ข๐œ ๐•๐ž๐ก๐ข๐œ๐ฅ๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐€๐๐ฏ๐š๐ง๐œ๐ข๐ง๐  ๐„๐• ๐“๐ž๐œ๐ก๐ง๐จ๐ฅ๐จ๐ ๐ข๐ž๐ฌ ๐ข๐ง ๐‰๐š๐ฉ๐š๐ง:

Japan continues to innovate in electric vehicle technologies, with leading automakers like Toyota, Nissan, and Honda heavily investing in solid-state batteries and autonomous EVs. Recent collaborations between Panasonic and EV manufacturers have fueled technological advancements, further strengthening Japan's position in the global EV landscape.

๐”๐’ ๐„๐ฅ๐ž๐œ๐ญ๐ซ๐ข๐œ ๐•๐ž๐ก๐ข๐œ๐ฅ๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐‚๐จ๐ง๐ฌ๐จ๐ฅ๐ข๐๐š๐ญ๐ข๐จ๐ง ๐ข๐ง ๐’๐จ๐ฎ๐ญ๐ก ๐Š๐จ๐ซ๐ž๐š:

South Korea's EV market is growing rapidly, driven by the dominance of companies like Hyundai and Kia. These firms have announced significant investments in EV production facilities and global expansion. In 2023, Hyundai Motor Group entered a joint venture with SK On to secure battery supplies, showcasing strategic consolidation in the market.

๐”๐’ ๐„๐ฅ๐ž๐œ๐ญ๐ซ๐ข๐œ ๐•๐ž๐ก๐ข๐œ๐ฅ๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐„๐• ๐Ž๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐ž๐ฌ ๐ข๐ง ๐’๐ข๐ง๐ ๐š๐ฉ๐จ๐ซ๐ž:

Singapore's EV market is characterized by a strong push towards sustainability, supported by government initiatives such as the Green Plan 2030. Major players like BYD and Hyundai are expanding their footprints in the region through partnerships and new dealership networks. The adoption of EVs is further bolstered by an extensive charging infrastructure rollout.

๐”๐’ ๐„๐ฅ๐ž๐œ๐ญ๐ซ๐ข๐œ ๐•๐ž๐ก๐ข๐œ๐ฅ๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐„๐• ๐“๐ซ๐ž๐ง๐๐ฌ ๐š๐ง๐ ๐ƒ๐ž๐ฏ๐ž๐ฅ๐จ๐ฉ๐ฆ๐ž๐ง๐ญ๐ฌ ๐ข๐ง ๐”๐ง๐ข๐ญ๐ž๐ ๐’๐ญ๐š๐ญ๐ž๐ฌ:

The U.S. remains a global leader in electric vehicle innovation, with Tesla dominating the market. The introduction of the Inflation Reduction Act has provided substantial incentives for EV adoption. Recent mergers, including Ford Motor Company's collaboration with Redwood Materials, underscore efforts to streamline battery recycling and enhance supply chain sustainability.

๐”๐’ ๐„๐ฅ๐ž๐œ๐ญ๐ซ๐ข๐œ ๐•๐ž๐ก๐ข๐œ๐ฅ๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐†๐ซ๐ž๐ž๐ง ๐Œ๐จ๐›๐ข๐ฅ๐ข๐ญ๐ฒ ๐‘๐ž๐ฏ๐จ๐ฅ๐ฎ๐ญ๐ข๐จ๐ง ๐ข๐ง ๐„๐ฎ๐ซ๐จ๐ฉ๐ž:

Europe is at the forefront of the green mobility revolution, with countries like Germany, France, and the UK leading EV adoption. Key players such as Volkswagen Group, BMW, and Renault are making significant investments in EV manufacturing. Recent collaborations between European automakers and battery suppliers like Northvolt are pivotal in meeting growing EV demand.

๐ˆ๐ง๐ญ๐ž๐ซ๐ž๐ฌ๐ญ๐ž๐ ๐ญ๐จ ๐ญ๐š๐ค๐ž ๐š ๐ฌ๐ง๐ž๐š๐ค ๐ฉ๐ž๐ž๐ค? ๐‘๐ž๐ช๐ฎ๐ž๐ฌ๐ญ ๐š ๐ฌ๐š๐ฆ๐ฉ๐ฅ๐ž ๐œ๐จ๐ฉ๐ฒ ๐จ๐Ÿ ๐ญ๐ก๐ž ๐ซ๐ž๐ฉ๐จ๐ซ๐ญ ๐ญ๐จ ๐ฌ๐ž๐ž ๐ฐ๐ก๐š๐ญ'๐ฌ ๐ข๐ง๐ฌ๐ข๐๐ž: https://www.maximizemarketresearch.com/request-sample/63467/

๐Š๐ž๐ฒ ๐‘๐ž๐œ๐ž๐ง๐ญ ๐ƒ๐ž๐ฏ๐ž๐ฅ๐จ๐ฉ๐ฆ๐ž๐ง๐ญ๐ฌ ๐ข๐ง ๐ญ๐ก๐ž ๐†๐ฅ๐จ๐›๐š๐ฅ ๐„๐• ๐Œ๐š๐ซ๐ค๐ž๐ญ

๐‘ฉ๐’‚๐’•๐’•๐’†๐’“๐’š ๐‘ป๐’†๐’„๐’‰๐’๐’๐’๐’๐’ˆ๐’š ๐‘จ๐’…๐’—๐’‚๐’๐’„๐’†๐’Ž๐’†๐’๐’•๐’”: Collaborations like Toyota's investment in solid-state batteries to improve range and efficiency.
๐‘บ๐’•๐’“๐’‚๐’•๐’†๐’ˆ๐’Š๐’„ ๐‘ท๐’‚๐’“๐’•๐’๐’†๐’“๐’”๐’‰๐’Š๐’‘๐’”: Global automakers forming alliances with battery suppliers for long-term sustainability.
๐‘ฎ๐’๐’—๐’†๐’“๐’๐’Ž๐’†๐’๐’• ๐‘ฐ๐’๐’„๐’†๐’๐’•๐’Š๐’—๐’†๐’”:Policies promoting EV adoption across countries, such as tax rebates in Vietnam and the Inflation Reduction Act in the U.S.
๐”๐’ ๐„๐ฅ๐ž๐œ๐ญ๐ซ๐ข๐œ ๐•๐ž๐ก๐ข๐œ๐ฅ๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐’๐ž๐ ๐ฆ๐ž๐ง๐ญ๐ฌ:

๐’ƒ๐’š ๐‘ป๐’š๐’‘๐’†

BEV
PHEV
HEV

๐’ƒ๐’š ๐‘ฝ๐’†๐’‰๐’Š๐’„๐’๐’† ๐‘ป๐’š๐’‘๐’†

Two-wheeler
Passenger car
Commercial vehicle

๐“๐จ ๐ž๐ฑ๐ฉ๐ฅ๐จ๐ซ๐ž ๐Ÿ๐ฎ๐ซ๐ญ๐ก๐ž๐ซ ๐๐ž๐ญ๐š๐ข๐ฅ๐ฌ ๐š๐›๐จ๐ฎ๐ญ ๐ญ๐ก๐ข๐ฌ ๐ซ๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก, ๐ฉ๐ฅ๐ž๐š๐ฌ๐ž ๐ ๐จ ๐ญ๐จ: https://www.maximizemarketresearch.com/request-sample/63467/

๐”๐’ ๐„๐ฅ๐ž๐œ๐ญ๐ซ๐ข๐œ ๐•๐ž๐ก๐ข๐œ๐ฅ๐ž ๐ฅ๐ž๐š๐๐ข๐ง๐  ๐Œ๐š๐ง๐ฎ๐Ÿ๐š๐œ๐ญ๐ฎ๐ซ๐ž๐ซ๐ฌ ๐ˆ๐ง๐œ๐ฅ๐ฎ๐๐ž:

1. Tesla
2. Lucid Motors
3. Rivian
4. BMW
5. Mercedes Benz
6. Nissan
7. Volkswagenโ€Ž
8. General Motors
9. National Motor Vehicle Company
10. Nikola Corporation
11. Kia
12. Ford
13. Volvo
14. Toyota
15. Hyundai
16. Cadillac

๐„๐ง๐ ๐š๐ ๐ž ๐ฐ๐ข๐ญ๐ก ๐ญ๐ก๐ž ๐ฅ๐š๐ญ๐ž๐ฌ๐ญ ๐š๐๐ฏ๐š๐ง๐œ๐ž๐ฆ๐ž๐ง๐ญ๐ฌ ๐ข๐ง ๐ฒ๐จ๐ฎ๐ซ ๐Ÿ๐ข๐ž๐ฅ๐ ๐ญ๐ก๐ซ๐จ๐ฎ๐ ๐ก ๐Œ๐š๐ฑ๐ข๐ฆ๐ข๐ณ๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก'๐ฌ ๐ซ๐ž๐œ๐ž๐ง๐ญ ๐ซ๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก ๐ฉ๐ฎ๐›๐ฅ๐ข๐œ๐š๐ญ๐ข๐จ๐ง๐ฌ:

Global Tremor Proof Devices Market https://www.maximizemarketresearch.com/market-report/global-tremor-proof-devices-market/84520/

Global Band Ligators Market https://www.maximizemarketresearch.com/market-report/global-band-ligators-market/87188/

Tile Adhesives and Stone Adhesives Market https://www.maximizemarketresearch.com/market-report/tile-adhesives-and-stone-adhesives-market/158274/

Global Health Care Social Media Marketing Market https://www.maximizemarketresearch.com/market-report/global-health-care-social-media-marketing-market/99853/

BRICS Diabetes Drugs Market https://www.maximizemarketresearch.com/market-report/brics-diabetes-drugs-market/356/

Global Non-breathable Films Market https://www.maximizemarketresearch.com/market-report/global-non-breathable-films-market/44746/

Global Automotive Perimeter Monitoring System Market https://www.maximizemarketresearch.com/market-report/global-automotive-perimeter-monitoring-system-market/74021/

Global IV Infusion Pump Accessories Market https://www.maximizemarketresearch.com/market-report/global-iv-infusion-pump-accessories-market/106886/

Global CBRNE Detection Technologies Market https://www.maximizemarketresearch.com/market-report/global-cbrne-detection-technologies-market/80981/

Global Motorcycle Handlebar Control Switch Market https://www.maximizemarketresearch.com/market-report/global-motorcycle-handlebar-control-switch-market/112866/

๐‚๐จ๐ง๐ญ๐š๐œ๐ญ ๐”๐ฌ

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Micro Motor Industry - Johnson Electric, Siemens, Mitsuba Corporation, Nidec Mot โ€ฆ
Global Micro Motor Market is set to rise from its initial estimated value of USD 28.13 billion in 2018 to an estimated value of USD 39.86 billion, registering a CAGR of 4.45% in the forecast period of 2019-2026. This projected rise in the value can be attributed to the increasing applications and demand from the various segments of the market. Get Sample Copy of this Report @ https://databridgemarketresearch.com/request-a-sample/?dbmr=global-micro-motor-market Key Market Competitors: Globalโ€ฆ
12-19-2018 | Advertising, Media Consulting, โ€ฆ
Research Report Insights
Electric Vehicles Market 2030 | Honda Motor Co., Ltd., Ford Motor, Toyota Motor โ€ฆ
A Research Report Insights (RRI) report reveals that the global market for electric vehicles is set to cross US$ 99 Billion in terms of value by 2016 end. As per the report, the market is expected to reach US$ 596.56 Billion by 2030, riding on a CAGR of 15.6%. Increasing demand for clean and green energy and rise in global air pollution is compelling socio-economic institutions to rethink over the structuresโ€ฆ
10-08-2018 | Advertising, Media Consulting, โ€ฆ
Allied Market Research
Electric Vehicle Motor Market by Type (Alternate Current (AC) Motor (Synchronous โ€ฆ
Electric vehicle motor is an electromechanical device used to provide power to electric vehicles by converting electric energy into mechanical energy. This phenomenon is achieved by the interaction of electric motors magnetic field and current. Electric vehicle motor comprises bearings, end bracket, frame, cooling frame, rotor, and stator. Access Full Report: https://www.alliedmarketresearch.com/electric-vehicle-motor-market The electric vehicle motor market is expected to witness lucrative growth during the forecast period due to increase inโ€ฆ