The research and analysis conducted in North America Electric Vehicle Report helps clients to predict investment in an emerging market, expansion of market share or success of a new product with the help of global market research analysis. This report has been designed in such a way that it provides very evident understanding of the business environment and North America Electric Vehicle industry. Nevertheless, this global market research report unravels many business problems very quickly and easily. Due to high demand and the value of market research for the success of different sectors, North America Electric Vehicle Market report is provided that covers many work areas.
Market expectations for likely development openings have been mentioned clearly in this world class North America Electric Vehicle Market research report. Competition analysis has been taken into account while preparing this report. A market analysis has turned into a vital piece of every business to settle on smart choices in the organizations which have been viably carried by experienced analysts. This market report provides best solutions for strategy development and implementation depending on client’s needs to extract tangible results. Businesses can bring about an absolute knowhow of general market conditions and tendencies with the information and data covered in this North America Electric Vehicle Market report.
Electric vehicle market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing at a CAGR of 22.8% in the forecast period of 2020 to 2027and expected to reach USD 202,861.92 million by 2027 from USD 39,731.62 million in 2019. Increasing concern about pollution and initiative from the governments to promote use of electric vehicle are the factors for the market growth.
Electric vehicle are run by utilizing clean electric energy. Instead of an internal combustion engine, electric vehicles were powered using an electric motor. The internal combustion engine is used to burn fossil products.
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Initiatives from governments to promote electric vehicles are expected to enhance the market growth. For instance, under The American Recovery and Reinvestment Act of 2009 consumer can get tax credit of between USD 2,500 and USD 7,500 per electric vehicle purchase. Rising number of EV model offerings from automakers, technological advancements will drive the market and create new opportunities for the growth. For instance, such as General Motors has launched electric bicycle in 2019, Tesla introduced its new advanced autopilot feature for their electric vehicles.
This electric vehicle market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
North America Electric Vehicle Market Scope and Market Size
Electric vehicle market is segmented on the basis component, propulsion type, charging station type, class, power train, and vehicle type. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
Based on component, the market is segmented into battery cells & packs, on-board charger, infotainment system and others. In the current scenario the lithium ion batteries are highly used in the EV as it offers the large storage capacity with fastest charging technology. Lithium-ion battery is providing prominent solution for EVs, such as increased capacity, fast charging are fuelling the adoption in the U.S. market. To meet this emerging demand of Lithium-ion battery market players are investing huge capital to increase production capacity. For instance, October, 2019, KORE Power has announced new manufacturing plant to produce Lithium-ion battery for the U.S. market.
Based on propulsion type, the market is segmented into plug-in hybrid electric vehicles (PHEVs), battery electric vehicles (BEVS), hybrid electric vehicles (HEVs) and fuel cell electric vehicles (FCEVs). The advantages of battery electric vehicles over other electric vehicles such as low operational costs, zero carbon emissions, light weight, attractive vehicle models has resulted in BEV as the dominating electric vehicle segment. For instance, in year 2018, according to the JATO Dynamics Limited the sales of battery vehicle is 209,000 units, and witnessed stronger growth in 2019 as for half year it almost reached to 116,200 units. Such increased sale of battery electric vehicle is fuelling the growth of battery electric vehicle segment.
Based on charging station type, the market is segmented into normal charging and super charging. Normal charging stations are dominating the market as major customers base prefer to charge their vehicle at home when it is in idle mode. For instance, according to the U.S. Department of Energy around 80% of electric vehicle users charge vehicles at home as it is inexpensive and convenient option. In addition, Government is also setting up charging stations for North America region to promote electric vehicles. For instance in July 2018, according to Center for American Progress there is 18,000 charging stations for electric vehicles which will be increased by 330,000 new public charging outlets by year 2025.
Based on class, the market is segmented into mid-priced and luxury. Major demand for the mid-priced vehicle from the consumers with advanced technology is attracting the automakers to develop new mid-priced electric vehicle models. For instance in November, 2019, Ford showcased newly developed electric sports utility vehicle for the U.S. market, which offers the mileage of 370 to 480 kilometres with a single charge. Not only Ford other market players such as Chevrolet, Toyota, Audi, Mercedes-Benz are also developing the all new affordable electric vehicle market.
Based on the basis of power train, the market is segmented into parallel hybrid, series hybrid and combined hybrid. The series hybrid systems provide better fuel efficiency and emission reductions comparing to parallel hybrid vehicles. In addition, the parallel hybrid vehicles tend to be mechanically complex and require a larger combustion engine, mechanism, and transmission to couple both motors to the drive wheels. Accelerating the demand of electric vehicle (EV) in the U.S., OEM manufacturers are taking initiatives to develop new technologies in series hybrid technology. For instance, in January 2019, Nissan Motors has launched its series hybrid system named as e-power technology in the U.S. market; this technology helps the company to compete with established market players in the U.S. such as General Motor’s Voltec technology. This kind of technological developments helps the series hybrid systems to spur in the U.S. market.
Based on the vehicle type, the market is segmented into passenger cars, two wheelers and commercial vehicles. The changing attitudes of consumers towards electric vehicles as well as growing concern of environmental pollution caused by conventional vehicle is augmenting the passenger electric vehicles market. Government is providing support through incentives and tax credits to customers at the time of purchase of electric cars, electric scooters and motorcycles. The several states from U.S. are offering incentives for the customers to purchase electric motorcycle and scooters. For instance, in 2017, the Government of California offered tax credit of 10% which is up to USD2,500 for the purchase of electric motorcycle. In addition, under the Clean Vehicle Rebate Project (CVRP) to promote the adoption of clean vehicles government is provides rebates of up to USD900 for the purchase of electric motorcycle. Such incentive scheme increased sale of EVs, as the U.S. witnessed 81 percent of sales growth for electric vehicle in year 2018.
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Electric Vehicle Market Country Level Analysis
Electric vehicle market is analysed and market size information is provided by country by vehicle type, power train and charging station type as referenced above.
The countries covered in the electric vehicle market report are U.S., Canada and Mexico in North America.
North America electric vehicle market is growing due to increasing concern about pollution free environment is expected to grow at the significant growth rate in the forecast period of 2020 to 2027 because of increasing aging population. For instance, under Clean Air Act (Section 177) government of California and other nine countries such as New York, Oregon, Connecticut, Maine, New Jersey, Maryland, Massachusetts, Rhode, Island, and Vermont has adopted Zero-Emission Mandate. The target is 15 percent of zero-emission vehicles (ZEVs) sales by 2025.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Government Initiatives to Promote Electric Vehicles
North America electric vehicle market also provides you with detailed market analysis for every country growth in installed base of different kind of products for electric vehicles market, impact of technology using life line curves and changes in automobile regulatory scenarios and their impact on the electric vehicle market. The data is available for historic period 2010 to 2018.
Competitive Landscape and Electric Vehicle Market Share Analysis
Electric vehicle market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, company strengths and weaknesses, product launch, clinical trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to North America electric vehicle market.
The major players covered in the report are Ford Motor Company, General Motors, Tesla, Hyundai Motor Company, AB Volvo, Honda Motor Co., Ltd., among other players domestic and global. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
- In November 2019, Thomas Built Buses, a subsidiary of Daimler AG introduced new electric bus named as Saf-T-Liner C2 Electric Bus. The company introduced the school bus sourced from electric energy at National Association for Pupil Transportation event. With this launch, the company expanded their market for electric vehicle in the U.S.
- In October 2019, Ford Motor Company has collaborated with Electrify America, which is a public charging station provider in North America. Through this collaboration, Ford’s EV customers can get access to Electrify America’s growing charging network in the U.S. This collaboration will help the company to provide ease to EV infrastructure for its customers.
Partnership, collaboration and other strategies enhances the company market share with increased coverage and presence. It also provides the benefit for organisation to improve their offering for electric vehicles through expanded model range
The North America Electric Vehicle market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to North America Electric Vehicle market.
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Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of North America Electric Vehicle market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new North America Electric Vehicle market. These factors have benefited the growth of the global market for North America Electric Vehicle. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
(**NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.)
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Table of Content:
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: RESEARCH METHODOLOGY
PART 04: INTRODUCTION
- Market outline
PART 05: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Market segmentation analysis
PART 06: MARKET SIZING
- Market definition
- Market sizing 2021
- Market size and forecast
PART 07: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 08: MARKET SEGMENTATION BY PRODUCT
- Global North America Electric Vehicle market by product
- Comparison by product
- Market opportunity by product
PART 09: MARKET SEGMENTATION BY DISTRIBUTION CHANNEL
- Global North America Electric Vehicle market by distribution channel
- Comparison by distribution channel
- Global North America Electric Vehicle market by offline distribution channel
- Global North America Electric Vehicle market by online distribution channel
- Market opportunity by distribution channel
PART 10: CUSTOMER LANDSCAPE
PART 11: MARKET SEGMENTATION BY END-USER
- Global North America Electric Vehicle market by end-user
- Comparison by end-user
PART 12: REGIONAL LANDSCAPE
- Global licensed North America Electric Vehicle market by geography
- Regional comparison
- Licensed North America Electric Vehicle market in Americas
- Licensed North America Electric Vehicle market in EMEA
- Licensed North America Electric Vehicle market in APAC
- Market opportunity
PART 13: DECISION FRAMEWORK
PART 14: DRIVERS AND CHALLENGES
- Market drivers
- Market challenges
PART 15: MARKET TRENDS
PART 16: VENDOR LANDSCAPE
- Landscape disruption
- Competitive scenario
PART 17: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
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