North America Electric Vehicle Market is expected to reach USD XX Billion by 2027 from USD XX Billion in 2019 at a CAGR of XX% (Detailed analysis of the market CAGR is provided in the report).
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
An electric vehicle or an electric drive vehicle is the vehicle type that uses one or more than one electric motors for propulsion. Based on the vehicle, motion can be provided by wheels or propellers that are driven by rotary motors or linear motors. An electric car uses electric motors and controllers for propulsion instead of the internal combustion engine.
Electricity is used as the transportation fuel for powering battery operated electric vehicles where electricity powers the vehicle’s wheels using an electric motor. Electric vehicles have limited storage capacity of energy that can be replenished by plugging in an electrical source. Energy generated is transmitted in the vehicle using overhead lines, inductive charging, or through an electrical cable. Vehicles using engines working on the principle of combustion may derive their energy from single or different non-renewable fossil fuels. A major advantage of electric or hybrid vehicles would be their ability to recover braking energy. Here electricity is restored to the onboard battery or may get sent back to the grid.
north America electric vehicle market has been segmented on the basis of type, vehicle type, and geography. Based on the type, the market has been segmented into battery, hybrid, and plug-in hybrid electric vehicle. Battery electric vehicle or BEV formed the largest segment with factors such as higher investment from manufacturing companies for development of pollution repellant vehicles acted as a major driver for this segment and market as a whole. Moreover, the rise in government grants to improve market demand for energy sustainable vehicles along with various subsidies available related to electric vehicles have formed another major driver for overall market growth. Considering the vehicle type segment, it is passenger cars that dominated with largest market share. Other segments namely two wheels and commercial vehicles followed passenger cars in terms of revenue share. Higher demand for faster cars that are fuel efficient as well as use non-renewable energy that has resulted in passenger cars holding a larger segment of the electric vehicle market.
North America, geographically has been divided into US and Canada with the US holding the largest market share. There has been a surge in the demand for electric vehicles as a government is giving subsidies and also pushing the availability of energy efficient vehicles. All these factors have together helped in the growth of the electric vehicles in North America.
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• North America Electric Vehicle Market size analysis and forecast
• Comprehensive study and analysis of market drivers, restraints, and opportunities influencing the growth of the North America Electric Vehicle market
• Electric Vehicle market segmentation on the basis of type, vehicle type, and geography.
• North America Electric Vehicle Market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of a study
• North America Electric Vehicle Market analysis and forecast for major countries has been provided.
• Profiling of key industry players, their strategic perspective, market positioning and analysis of core competencies
• Competitive landscape of the key players operating in the Electric Vehicle market including competitive developments, investments, and strategic expansion
Years that have been considered for the study are as follows:
• Base Year – 2018
• Estimated Year – 2019
• Forecast Period – 2019 to 2026
For company profiles, 2018 has been considered as the base year. In cases, wherein information was unavailable for the base year, the years prior to it have been considered.
Bloomberg, Hoovers, and Factiva are some of the paid databases referred in order to gain insights about the North America Electric Vehicle Market. Opinions from experts along with other stakeholders from major market players have been considered. This is done to validate and collect critical information for evaluating trends related to this market during the forecast period. Top-down and bottom-up approaches have been used to estimate regional and country-wise size of this market. Data triangulation techniques along with other comparative analysis are also used to calculate the exact size of the North America Electric Vehicle Market globally.
Some of the key players of the North America Electric Vehicle market include:
• General Motors
• Mercedes Benz
Key Target Audience:
• Electric Vehicles and related devices manufacturers
• Research and Consulting Firms as well as Venture capitalists and startup companies
• Solutions providers and Component suppliers
• Software, technology providers and Electric Vehicle Market Investors
• Component and device suppliers and distributors
• A government, Legislative and Regulatory Bodies
• Associations, organizations, forums, and alliances related to transportation industries
• Traders and Stakeholders Operating In the Sector
• Electric Vehicle related service providers
The scope of the North America Electric Vehicle Market:
The research report segments North America Electric Vehicle market based on type, vehicle type, and geography.
North America Electric Vehicle Market, By Type:
• Battery Electric Vehicle
• Hybrid Electric Vehicle
• Plug-In Hybrid Electric Vehicle
North America Electric Vehicle Market, By Vehicle Type:
• Two Wheeler
• Passenger Car
• Commercial Vehicle
o Light Commercial Vehicle
o Heavy Commercial Vehicle
North America Electric Vehicle Market, By Geography:
• North America
• Breakdown of the US Electric Vehicle market
• Breakdown of Canada Electric Vehicle market
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