The US Electric Vehicle Market size was valued at USD 38.18 Billion in 2023 and the total US Electric Vehicle Market revenue is expected to grow at a CAGR of 25.4% from 2024 to 2030, reaching nearly USD 233.46 Billion by 2030.
US Electric Vehicle Market Overview:
Maximize Market Research is a Business Consultancy Firm that has published a detailed analysis of the “US Electric Vehicle Market”. The report includes key business insights, demand analysis, pricing analysis, and competitive landscape. The analysis in the report provides an in-depth aspect at the current status of the US Electric Vehicle Market.
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US Electric Vehicle Market Scope and Methodology:
The US Electric Vehicle Market requires a mix of both qualitative and quantitative research methods. US Electric Vehicle Market information is gathered through different research methods including expert advice, primary and secondary research, both qualitative and quantitative. Primary research gathers important data from interviews, surveys, questionnaires, and input from industry experts, customers and other sources either in person or over the phone.
The report provides in-depth analysis on different strategies used by leading companies, such as partnerships, mergers, acquisitions, and collaborations. The report conducted a SWOT analysis to evaluate the company’s market position through identifying its strengths, weaknesses, opportunities, and threats. Analytical techniques, such as examining investment returns, conducting a feasibility study, and using Porter’s five forces analysis, were employed to assess the US Electric Vehicle market. The bottom-up approach was used to determine the global and regional US Electric Vehicle market sizes.
US Electric Vehicle Market Regional Insights:
The US Electric Vehicle Market report is segmented into various key countries. Countries such as North America (United States, Canada, Mexico), Europe (United Kingdom, Germany, France, Spain, Italy, Rest of Europe), Asia Pacific (China, India, Japan, Australia, South Korea, ASEAN countries, other APAC countries), South America (Brazil), and the Middle East and Africa.
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US Electric Vehicle Market Segmentation:
Leading the way, a number of states have enacted legislation or issued executive orders prohibiting the sale of new gasoline-powered passenger cars by 2035. By 2050, the majority of passenger cars on the road may be electric, marking a dramatic change in the U.S. electric vehicle market if this trend spreads across the country. As automakers adjust to shifting consumer demands, regulatory needs, and technological improvements, the competitive landscape is changing. Both long-standing firms like Tesla and more recent arrivals like Rivian have the chance to seize particular market niches in the expanding US electric car market because to this dynamic environment.
Anticipating a spike in EV usage, General Motors (GM) hopes to turn a profit in its North American US Electric Vehicle Market portfolio by 2025. In order to improve customer satisfaction and cut expenses, the business intends to actively pursue EV leadership by developing a digital retail platform with U.S. dealers and introducing several EVs in strategic categories. To gain a dominant position in the EV industry, GM is making strategic use of its battery cell joint venture Ultium Cells, BrightDrop’s EV and software solutions, and five assembly factories. Along with securing raw resources and concentrating on sustainability, the corporation has managed to keep classic car segments profitable. GM is a formidable competitor in the cutthroat US electric vehicle market thanks to its all-encompassing approach.
by Type
BEV
PHEV
HEV
by Vehicle Type
Two-wheeler
Passenger car
Commercial vehicle
US Electric Vehicle Market Key Players:
1. Tesla
2. Lucid Motors
3. Rivian
4. BMW
5. Mercedes Benz
6. Nissan
7. Volkswagen
8. General Motors
9. National Motor Vehicle Company
10. Nikola Corporation
11. Kia
12. Ford
13. Volvo
14. Toyota
15. Hyundai
16. Cadillac
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Key questions answered in the US Electric Vehicle Market are:
- What is US Electric Vehicle?
- What is the growth rate of the US Electric Vehicle Market?
- Which are the factors expected to drive the US Electric Vehicle Market growth?
- What are the upcoming opportunities and trends for the US Electric Vehicle Market?
- Who are the leading companies and what are their portfolios in US Electric Vehicle Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the US Electric Vehicle Market?
- Who are the key players in the US Electric Vehicle Market?
- What are the different segments of the US Electric Vehicle Market?
- Which is the fastest growing region in the US Electric Vehicle Market?
- What growth strategies are the players considering to increase their presence in US Electric Vehicle?
- What is the CAGR at which the US Electric Vehicle Market will grow during the forecast period?
- What segments are covered in the US Electric Vehicle Market?
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Key Offerings:
- Past Market Size and Competitive Landscape
- Past Pricing and price curve by region
- Market Size, Share, Size & Forecast by different segment
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- 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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Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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