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North America Electric Car Market

Release date:

Oct-2021

Region:

northamerica

Research Code:MRAUTO -104525

Sku:MRAUTO -104525

North America Electric Car Market by Propulsion Type (BEV, FCEV, PHEV, HEV), Power Output (Less Than 100kW, 100 kW to 250 kW), End Use (Private, Commercial), and Geography - Forecast to 2028

  • Report ID: MRAUTO -104525
  • Pages: 110
  • Oct-2021
  • Formats*: PDF
  • Category: Automotive Industry
  • Delivery: 2 to 4 Hours
COVID-19

This report provides pre & post COVID-19 market estimates.

The North America Electric Car Market is expected to reach a value of $329.57 billion by 2028, at a CAGR of 35.2% during the forecast period 2021- 2028. By volume, this market is expected to grow at a CAGR of 18.7% from 2021 to reach 2.9 million units by 2028. Supportive government policies and regulations, the rising deployment of EV charging stations by shared mobility operators, and increasing investments in the EV ecosystem are factors driving the growth of this market. Moreover, the decreasing battery prices and growing fleet electrification targets of governments across the region are expected to provide significant opportunities for the growth of this market. However, the lack of charging infrastructure in developing countries is expected to restrain the growth of this market to some extent. The range limitations of electric vehicles and a lack of fast-charging infrastructure are major challenges for the growth of the electric cars market in North America. Increasing investments in R&D for smart charging systems is a major trend that may support the growth of this market.

The Impact of COVID-19 on the North American Electric Cars Market

In North America, the U.S. was severely impacted by the COVID-19 pandemic leading to significant damages in terms of life, resources, and economy. The adoption of electric cars had declined in the first & second quarters of 2020, while a slight growth was witnessed post the second quarter. Consumer behavior has changed significantly since the pandemic. People have reduced the use of shared mobility services and public transport services to reduce the risk of infection. Moreover, due to remote working arrangements in most of the industries, the total miles driven have also decreased in 2020. Hence, these factors have negatively affected the adoption of electric cars in the region.

However, leading investors have planned to double their investments in autonomous vehicles that can positively impact the electric cars market in the forecast period. For instance, in March 2020, Waymo, Google’s self-driving car project, raised $2.3 billion from investors such as Silver Lake, Andreessen Horowitz, and AutoNation. In November 2020, California authorized paid robotaxi services by Waymo, one ride-hailing service in the state. In January 2019, Magna, a Canada-based auto supplier, partnered with Waymo to build a factory for manufacturing self-driving cars in southeast Michigan. The facility produces autonomous versions of the Chrysler Pacifica Hybrid minivan and Jaguar’s I-PACE electric SUV with Level 4 autonomous driving.

North America Electric Car Market

                                                  Click here to: Get Free Sample Pages of this Report 

Lack of Fast-charging Infrastructure

The lack of fast charging infrastructure is a crucial challenge hampering the adoption of electric cars. There is increased growth in the number of registrations of electric cars. However, fast-charging facilities are yet to grow significantly. The growing adoption of electric cars urges owners to demand the deployment of fast-charging infrastructures to reduce charging duration and increase travel distance and transit efficiency.

  • Most electric cars take approximately 8–10 hours to get charged completely on any 230 V power outlet through an adapter and a car manufacturer's cable.
  • Battery charging at home takes roughly 4–6 hours for a normal electric vehicle. However, it also increases the electricity bill considerably.
  • Nissan LEAF (2018 model) with a battery of 40kWh takes approximately 6–11 hours to get charged completely, depending on the charging type.

The high duration required to charge electric cars makes it difficult for electric car owners to plan their travels effectively. Therefore, the demand for fast-charging stations is increasing rapidly among EV owners. Hence, the lack of fast-charging infrastructure is a major challenge for electric mobility stakeholders across the world.

Electric mobility stakeholders worldwide have initiated various projects to overcome the challenges faced due to the lack of fast-charging stations. For instance, Tesla, Inc. (U.S.) is developing an electrical terminal capable of fully charging a battery within a few minutes. These powerful electrical terminals can charge a battery up to 80% of its capacity in 30 minutes.

Key Findings in the North American Electric Cars Market Study:

The fuel cell electric vehicles segment projected to witness significant growth

Based on propulsion type, the hybrid vehicles segment is estimated to account for the largest share of the North American electric cars market in 2021. However, the fuel cell electric vehicles segment is projected to grow at the highest CAGR during the forecast period. The rapid market growth of this segment is mainly attributed to various factors such as fast refueling, zero tailpipe emissions, smaller battery pack, initiatives by governments to set up hydrogen fuel cell charging stations, and increasing investments by leading automotive OEMs in the research and development of hydrogen fuel cell technology.

The 100kW to 250 kW segment estimated to showcase a high CAGR

Based on power output, the less than 100 kW segment is estimated to account for the largest share of the North American electric cars market in 2021. However, the 100 kW to 250 kW segment is projected to grow at the highest CAGR during the forecast period. The rapid market growth of this segment is mainly attributed to the initiatives taken by leading automotive OEMs to introduce various electric cars. In addition, the implementation of governmental laws and regulations to reduce tailpipe emissions and the rising adoption of electric cars in developed economies also contribute to the market growth of this segment.

The commercial use segment projected to grow significantly

Based on end use, the private use segment is estimated to account for the largest share of the North American electric cars market in 2021. However, the commercial use segment is projected to grow at the highest CAGR during the forecast period. The rapid market growth of this segment is mainly attributed to the rising usage of electric cars in shared mobility services and corporate taxi fleets, increasing laws and regulations to reduce fleet emissions, and encouragement by global and state-level regulatory bodies to deploy policies promoting the adoption of electric cars for mobility services.

Canada to be the fastest-growing market by value as well as by volume

Canada is expected to grow at the fastest CAGR by value and volume during the forecast period. The high market growth of electric cars in the country is attributed to the local government's introduction of policies and incentives, increased adoption of electric cars due to the improved driving range, and the development of fast-charging infrastructures resulting in the reduction of charging duration. The electric cars market in Canada is nascent, providing numerous opportunities for the stakeholders to enhance their business revenues. The Canadian government has introduced numerous policies and incentive programs to increase the adoption of electric cars and reduce transportation emissions in the coming years.

The authorities are striving to achieve 100% zero-emission vehicle sales by 2040. Accordingly, the Canadian government has set targets for automotive OEMs to increase the share of electric cars in new vehicle sales to 10% by 2025, 30% by 2030, and 100% by 2040. The Canadian government has also introduced attractive incentive plans for consumers purchasing EVs in Canada. For instance, Quebec's local government has offered a discount of $8,000 for every electric car sold. Ontario offers discounts between $3,000 to $14,000 for a wide variety of electric cars under its Electric Vehicles Incentive Program. British Colombia offers incentives ranging from $2,500 to $5,000 under its own Clean Energy Vehicle Program incentive. Such supportive policies and incentive programs are expected to increase the adoption of electric cars in Canada.

Key Players

The report includes a competitive landscape based on an extensive assessment of the key strategies adopted by the leading market participants in the North American electric cars market over the last four years. The key players profiled in the North American electric cars market are Tesla, Inc. (U.S.), General Motors Company (U.S.), Ford Motor Company (U.S.), Rivian, LLC (U.S.), Bollinger Motors Inc. (U.S.), Alcraft Motor Company Ltd.,(U.K.), Nissan Motor Co., Ltd. (Japan), NIO Inc. (China), AB Volvo (Sweden), and Groupe Renault (France).

Scope of the Report

North America Electric Car Market, by Propulsion Type

  • Hybrid Vehicles
    • Pure Hybrid Vehicles
    • Plug-in Hybrid Vehicles
  • Battery Electric Vehicles
  • Fuel Cell Electric Vehicles

North American Electric Cars Market, by Power Output

  • Less Than 100 kW
  • 100 kW to 250 kW

North America Electric Car Market, by End-Use

  • Private Use
  • Commercial Use

North America Electric Car Market, by Country

  • U. S.
  • Canada

Key Questions Answered in the Report:

What is the Focus of the North America Electric Car Market?

The North America electric car market report covers the market size & forecasts for electric cars by propulsion type, power output, end use, and geography. The North American electric cars market study in this report involves the value analysis of various segments and subsegments of the North American electric cars market at country levels. Volume analysis of electric cars is done only at the country level.

What is the Value of Revenue Generated From Electric Cars Across North America? At What Rate is the Demand Expected to Grow for the Next 5–7 Years?

The North American electric cars market is projected to reach a value of $329.57 billion by 2028, at a CAGR of 35.2% during the forecast period.

Which Propulsion Type Category Held the Major Share of the Market in 2021?

Based on the propulsion type, the hybrid vehicles segment is expected to account for the largest share of the North American electric cars market in 2021.

Which is the High-growth End Use Segment of the North American Electric Cars Market?

Based on end use, the private use segment is expected to account for the largest share of the North American electric cars market in 2021. However, the commercial use segment is expected to witness significant growth during the forecast period. The rapid growth of this segment is mainly attributed to the increasing use of electric cars in shared mobility services and corporate taxi fleets.

What are the Key Factors Supporting the Growth of this Market? What are the Major Opportunities for Existing Market Players and New Entrants in the North American Electric Cars Market?

Supportive government policies and regulations, the rising deployment of EV charging stations by shared mobility operators, and increasing investments in the EV ecosystem are the key factors attributed to the growth of this market. Additionally, the decrease in battery prices and growing fleet electrification targets of governments across the region are expected to create lucrative opportunities for players operating in this market.

Who are the Major Players Operating in the North American Electric Cars Market?

The key players operating in the North American electric cars market are Tesla, Inc. (U.S.), General Motors Company (U.S.), Ford Motor Company (U.S.), Rivian, LLC (U.S.), Bollinger Motors Inc. (U.S.), Alcraft Motor Company Ltd.,(U.K.), Nissan Motor Co., Ltd. (Japan), NIO Inc. (China), AB Volvo (Sweden), and Groupe Renault (France).

Which Countries are Likely to Offer Significant Growth Opportunities for the Vendors in this Market During the Analysis Period?

Canada is expected to offer significant growth opportunities for vendors in this market due to increasing consumer interest in purchasing electric cars to benefit from the exemption of taxes on the vehicles and increasing adoption of electric cars in developing economies.

1.    Introduction
          1.1.    Market Definition
          1.2.    Market Ecosystem
          1.3.    Currency and Limitations
          1.4.    Key Stakeholders

2.    Research Methodology
          2.1.    Research Process
          2.2.    Data Collection & Validation
                       2.2.1.    Secondary Research
                       2.2.2.    Primary Research 
          2.3.    Market Assessment
                       2.3.1.    Market Size Estimation 
                                      2.3.1.1.    Bottom-Up Approach
                                      2.3.1.2.    Growth forecast
                                      2.3.1.3.    COVID-19 Impact Assessment 
          2.4.    Assumptions for The Study

3.    Executive Summary

4.    The Impact of COVID-19
          4.1.    Covid-19 Impact on the North American Electric Cars Market
          4.2.    Scenario A: Severe Impact
          4.3.    Scenario B: Slow Recovery
          4.4.    Scenario C: Fast Recovery

5.    Market Insights
          5.1.    Introduction
          5.2.    Market Dynamics
          5.3.    Drivers
                       5.3.1.    Supportive Government Policies and Regulations
                       5.3.2.    Rising Deployment of EV Charging Stations by Shared Mobility Operator
                       5.3.3.    Increasing Investments in EV Ecosystem
          5.4.    Restraints
                       5.4.1.    Lack of charging infrastructure in developing countries
          5.5.    Opportunities 
                       5.5.1.    Decreasing Prices of Batteries
                       5.5.2.    Fleet Electrification Target of Government Across the Region
          5.6.    Challenges
                       5.6.1.    Range Limitations of Electric Vehicles
                       5.6.2.    Lack of Fast-charging Infrastructure
          5.7.    Trends
                       5.6.1.    Increasing Investments in R&D for Smart Charging Systems

6.    North American Electric Cars Market, by Propulsion Type
          6.1.    Introduction
          6.2.    Hybrid Vehicles
                       6.2.1.    Pure Hybrid Electric Vehicles
                       6.2.2.    Plug-In Hybrid Electric Vehicles
          6.3.    Battery Electric Vehicles
          6.4.    Fuel Cell Electric Vehicles

7.    North American Electric Cars Market, by Power Output
          7.1.    Introduction
          7.2.    Less than 100KW
          7.3.    100KW to 250KW 

8.    North America Electric Car Market, by End Use
          8.1.    Introduction
          8.2.    Private Use
          8.3.    Commercial Use

9.    North America Electric Car Market, by Geography
          9.1.    Introduction
          9.2.    North America
                       9.2.1.    U.S.
                       9.2.2.    Canada     

10.    Competitive Landscape    
            10.1.    Introduction    
            10.2.    Key Growth Strategies    
            10.3.    Competitive Benchmarking    
            10.4.    Market Share Analysis    
                          10.4.1.    Tesla, Inc.    
                          10.4.2.    General Motors Company    
                          10.4.3.    Ford Motor Company    

11.    Company Profiles    
            11.1.    Tesla, Inc.    
            11.1.1.    Business Overview    
                          11.1.2.    Product Portfolio    
                          11.1.3.    Strategic Developments    
            11.2.    General Motors Company    
                          11.2.1.    Business Overview    
                          11.2.2.    Product Portfolio    
                          11.2.3.    Strategic Developments
            11.3.    Ford Motor Company        
                          11.3.1.    Business Overview    
                          11.3.2.    Product Portfolio    
                          11.3.3.    Strategic Developments    
            11.4.    Rivian, LLC    
                          11.4.1.    Business Overview    
                          11.4.2.    Product Portfolio    
                          11.4.3.    Strategic Developments    
            11.5.    Bollinger Motors Inc.    
                          11.5.1.    Business Overview    
                          11.5.2.    Product Portfolio    
                          11.5.3.    Strategic Developments
            11.6.    Alcraft Motor Company Ltd 
                          11.6.1.    Business Overview    
                          11.6.2.    Product Portfolio    
                          11.6.3.    Strategic Developments    
            11.7.    Nissan Motor Co., Ltd.    
                          11.7.1.    Business Overview    
                          11.7.2.    Product Portfolio    
                          11.7.3.    Strategic Developments    
            11.8.    NIO Inc.    
                          11.8.1.    Business Overview    
                          11.8.2.    Product Portfolio    
                          11.8.3.    Strategic Developments    
            11.9.    AB Volvo
                          11.9.1.    Business Overview    
                          11.9.2.    Product Portfolio    
                          11.9.3.    Strategic Developments    
            11.10.    Groupe Renault    
                          11.10.1.    Business Overview    
                          11.10.2.    Product Portfolio    
                          11.10.3.    Strategic Developments    

12.    Appendix
            12.1.    Questionnaire    
            12.2.    Available Customization

List of Tables :

Table 1    Market Size and CAGR (USD Million)
Table 2    Electric Cars Market Size in North America, by Propulsion Type, 2019–2028 (USD Million)
Table 3    Hybrid Vehicles Market Size, by Type, 2019–2028 (USD Million)
Table 4    Hybrid Vehicles Market Size, by Country, 2019–2028 (USD Million)
Table 5    Pure Hybrid Electric Vehicles Market Size, by Country, 2019–2028 (USD Million)
Table 6    Plug-In Hybrid Electric Vehicles Market Size, by Country, 2019–2028 (USD Million)
Table 7    Battery Electric Vehicles Market Size, by Country, 2019–2028 (USD Million)
Table 8    Fuel Cell Electric Vehicles Market Size, by Country, 2019–2028 (USD Million)
Table 9    Electric Cars Market Size in North America, by Power Output, 2019–2028 (USD Million)
Table 10    Less Than 100kw Electric Cars Market Size in North America, by Country, 2019–2028 (USD Million)
Table 11    100kw to 250kw Electric Cars Market Size in North America, by Country, 2019–2028 (USD Million)
Table 12    Electric Cars Market Size in North America, by End Use, 2019–2028 (USD Million) 
Table 13    Electric Cars Market Size in North America for Private Use, by Country, 2019–2028 (USD Million)    
Table 14    Electric Cars Market Size in North America for Commercial Use, by Country, 2019–2028 (USD Million)
Table 15    Electric Cars Market Size in North America, by Country, 2019-2028 (USD Million)      
Table 16    Electric Cars Market Volume in North America, by Country, 2019-2028 (Unit Thousand)
Table 17    U.S.: Electric Cars Market Size in North America, by Propulsion Type, 2019–2028 (USD Million)
Table 18    U.S.: Hybrid Vehicles Market Size in North America, by Type, 2019–2028 (USD Million)
Table 19    U.S.: Electric Cars Market Size in North America, by Power Output, 2019–2028 (USD Million)
Table 20    U.S.: Electric Cars Market Size in North America, by End Use, 2019–2028 (USD Million)
Table 21    Canada: Electric Cars Market Size in North America, by Propulsion Type, 2019–2028 (USD Million)    
Table 22    Canada: Hybrid Vehicles Market Size in North America, by Type, 2019–2028 (USD Million)    
Table 23    Canada: Electric Cars Market Size in North America, by Power Output, 2019–2028 (USD Million)    
Table 24    Canada: Electric Cars Market Size in North America, by End Use, 2019–2028 (USD Million)     

List of Figures :

Figure 1        Currency and Limitations    
Figure 2        Research Process    
Figure 3        Key Secondary Sources    
Figure 4        Primary Research Techniques    
Figure 5        Key Executives Interviewed    
Figure 6        Market Size Estimation
Figure 7        Key Insights    
Figure 8        North American Electric Cars Market, by Propulsion Type, 2021 Vs. 2028, (USD Billion)    
Figure 9        North American Electric Cars Market, by Power Output, 2021 Vs. 2028, (USD Billion)
Figure 10    North American Electric Cars Market, by End Use, 2021 Vs. 2028, (USD Billion)    
Figure 11    Geographic Snapshot: The North America Electric Cars Market, (Value Share & CAGR)
Figure 12    Geographic Snapshot: The North American Electric Cars Market, (Volume Share & CAGR)     
Figure 13    The Impact of Covid-19 on the North American Electric Cars Market (Value)    
Figure 14    North American Electric Cars Market Size, by Propulsion Type, 2021–2028 (USD Million)    
Figure 15    Electric Cars Market Size in North America, by Power Output, 2021–2028 (USD Million)    
Figure 16    Electric Cars Market Size in North America, by End Use, 2021–2028 (USD Million)    
Figure 17    Electric Cars Market Size in North America, by Geography, 2021–2028 (USD Million)
Figure 18    Electric Cars Market Size in North America, by Geography, 2021–2028 (Unit Thousand)     
Figure 19    Key Growth Strategies Adopted by Leading Players, 2017–2020    
Figure 20    North American Electric Cars Market: Competitive Benchmarking
Figure 21    Market Share Analysis: The North American Electric Cars Market, 2020
Figure 22    Tesla, Inc.: Financial Overview, 2020    
Figure 23    General Motors Company: Financial Overview, 2020    
Figure 24    Ford Motor Company: Financial Overview, 2020
Figure 25    Rivian, LLC: Financial Overview, 2020    
Figure 26    Bollinger Motors Inc.: Financial Overview, 2020     
Figure 27    Alcraft Motor Company Ltd: Financial Overview, 2020     
Figure 28    Nissan Motor Co., Ltd.: Financial Overview, 2020     
Figure 29    NIO Inc.: Financial Overview, 2020
Figure 30    AB Volvo: Financial Overview, 2020    
Figure 31    Groupe Renault: Financial Overview, 2020      

 
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Related Research

The North America Electric Car Market is expected to reach a value of $329.57 billion by 2028, at a CAGR of 35.2% during the forecast period 2021- 2028. By volume, this market is expected to grow at a CAGR of 18.7% from 2021 to reach 2.9 million units by 2028. Supportive government policies and regulations, the rising deployment of EV charging stations by shared mobility operators, and increasing investments in the EV ecosystem are factors driving the growth of this market. Moreover, the decreasing battery prices and growing fleet electrification targets of governments across the region are expected to provide significant opportunities for the growth of this market. However, the lack of charging infrastructure in developing countries is expected to restrain the growth of this market to some extent. The range limitations of electric vehicles and a lack of fast-charging infrastructure are major challenges for the growth of the electric cars market in North America. Increasing investments in R&D for smart charging systems is a major trend that may support the growth of this market.

The Impact of COVID-19 on the North American Electric Cars Market

In North America, the U.S. was severely impacted by the COVID-19 pandemic leading to significant damages in terms of life, resources, and economy. The adoption of electric cars had declined in the first & second quarters of 2020, while a slight growth was witnessed post the second quarter. Consumer behavior has changed significantly since the pandemic. People have reduced the use of shared mobility services and public transport services to reduce the risk of infection. Moreover, due to remote working arrangements in most of the industries, the total miles driven have also decreased in 2020. Hence, these factors have negatively affected the adoption of electric cars in the region.

However, leading investors have planned to double their investments in autonomous vehicles that can positively impact the electric cars market in the forecast period. For instance, in March 2020, Waymo, Google’s self-driving car project, raised $2.3 billion from investors such as Silver Lake, Andreessen Horowitz, and AutoNation. In November 2020, California authorized paid robotaxi services by Waymo, one ride-hailing service in the state. In January 2019, Magna, a Canada-based auto supplier, partnered with Waymo to build a factory for manufacturing self-driving cars in southeast Michigan. The facility produces autonomous versions of the Chrysler Pacifica Hybrid minivan and Jaguar’s I-PACE electric SUV with Level 4 autonomous driving.

North America Electric Car Market

                                                  Click here to: Get Free Sample Pages of this Report 

Lack of Fast-charging Infrastructure

The lack of fast charging infrastructure is a crucial challenge hampering the adoption of electric cars. There is increased growth in the number of registrations of electric cars. However, fast-charging facilities are yet to grow significantly. The growing adoption of electric cars urges owners to demand the deployment of fast-charging infrastructures to reduce charging duration and increase travel distance and transit efficiency.

  • Most electric cars take approximately 8–10 hours to get charged completely on any 230 V power outlet through an adapter and a car manufacturer's cable.
  • Battery charging at home takes roughly 4–6 hours for a normal electric vehicle. However, it also increases the electricity bill considerably.
  • Nissan LEAF (2018 model) with a battery of 40kWh takes approximately 6–11 hours to get charged completely, depending on the charging type.

The high duration required to charge electric cars makes it difficult for electric car owners to plan their travels effectively. Therefore, the demand for fast-charging stations is increasing rapidly among EV owners. Hence, the lack of fast-charging infrastructure is a major challenge for electric mobility stakeholders across the world.

Electric mobility stakeholders worldwide have initiated various projects to overcome the challenges faced due to the lack of fast-charging stations. For instance, Tesla, Inc. (U.S.) is developing an electrical terminal capable of fully charging a battery within a few minutes. These powerful electrical terminals can charge a battery up to 80% of its capacity in 30 minutes.

Key Findings in the North American Electric Cars Market Study:

The fuel cell electric vehicles segment projected to witness significant growth

Based on propulsion type, the hybrid vehicles segment is estimated to account for the largest share of the North American electric cars market in 2021. However, the fuel cell electric vehicles segment is projected to grow at the highest CAGR during the forecast period. The rapid market growth of this segment is mainly attributed to various factors such as fast refueling, zero tailpipe emissions, smaller battery pack, initiatives by governments to set up hydrogen fuel cell charging stations, and increasing investments by leading automotive OEMs in the research and development of hydrogen fuel cell technology.

The 100kW to 250 kW segment estimated to showcase a high CAGR

Based on power output, the less than 100 kW segment is estimated to account for the largest share of the North American electric cars market in 2021. However, the 100 kW to 250 kW segment is projected to grow at the highest CAGR during the forecast period. The rapid market growth of this segment is mainly attributed to the initiatives taken by leading automotive OEMs to introduce various electric cars. In addition, the implementation of governmental laws and regulations to reduce tailpipe emissions and the rising adoption of electric cars in developed economies also contribute to the market growth of this segment.

The commercial use segment projected to grow significantly

Based on end use, the private use segment is estimated to account for the largest share of the North American electric cars market in 2021. However, the commercial use segment is projected to grow at the highest CAGR during the forecast period. The rapid market growth of this segment is mainly attributed to the rising usage of electric cars in shared mobility services and corporate taxi fleets, increasing laws and regulations to reduce fleet emissions, and encouragement by global and state-level regulatory bodies to deploy policies promoting the adoption of electric cars for mobility services.

Canada to be the fastest-growing market by value as well as by volume

Canada is expected to grow at the fastest CAGR by value and volume during the forecast period. The high market growth of electric cars in the country is attributed to the local government's introduction of policies and incentives, increased adoption of electric cars due to the improved driving range, and the development of fast-charging infrastructures resulting in the reduction of charging duration. The electric cars market in Canada is nascent, providing numerous opportunities for the stakeholders to enhance their business revenues. The Canadian government has introduced numerous policies and incentive programs to increase the adoption of electric cars and reduce transportation emissions in the coming years.

The authorities are striving to achieve 100% zero-emission vehicle sales by 2040. Accordingly, the Canadian government has set targets for automotive OEMs to increase the share of electric cars in new vehicle sales to 10% by 2025, 30% by 2030, and 100% by 2040. The Canadian government has also introduced attractive incentive plans for consumers purchasing EVs in Canada. For instance, Quebec's local government has offered a discount of $8,000 for every electric car sold. Ontario offers discounts between $3,000 to $14,000 for a wide variety of electric cars under its Electric Vehicles Incentive Program. British Colombia offers incentives ranging from $2,500 to $5,000 under its own Clean Energy Vehicle Program incentive. Such supportive policies and incentive programs are expected to increase the adoption of electric cars in Canada.

Key Players

The report includes a competitive landscape based on an extensive assessment of the key strategies adopted by the leading market participants in the North American electric cars market over the last four years. The key players profiled in the North American electric cars market are Tesla, Inc. (U.S.), General Motors Company (U.S.), Ford Motor Company (U.S.), Rivian, LLC (U.S.), Bollinger Motors Inc. (U.S.), Alcraft Motor Company Ltd.,(U.K.), Nissan Motor Co., Ltd. (Japan), NIO Inc. (China), AB Volvo (Sweden), and Groupe Renault (France).

Scope of the Report

North America Electric Car Market, by Propulsion Type

  • Hybrid Vehicles
    • Pure Hybrid Vehicles
    • Plug-in Hybrid Vehicles
  • Battery Electric Vehicles
  • Fuel Cell Electric Vehicles

North American Electric Cars Market, by Power Output

  • Less Than 100 kW
  • 100 kW to 250 kW

North America Electric Car Market, by End-Use

  • Private Use
  • Commercial Use

North America Electric Car Market, by Country

  • U. S.
  • Canada

Key Questions Answered in the Report:

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1.    Introduction
          1.1.    Market Definition
          1.2.    Market Ecosystem
          1.3.    Currency and Limitations
          1.4.    Key Stakeholders

2.    Research Methodology
          2.1.    Research Process
          2.2.    Data Collection & Validation
                       2.2.1.    Secondary Research
                       2.2.2.    Primary Research 
          2.3.    Market Assessment
                       2.3.1.    Market Size Estimation 
                                      2.3.1.1.    Bottom-Up Approach
                                      2.3.1.2.    Growth forecast
                                      2.3.1.3.    COVID-19 Impact Assessment 
          2.4.    Assumptions for The Study

3.    Executive Summary

4.    The Impact of COVID-19
          4.1.    Covid-19 Impact on the North American Electric Cars Market
          4.2.    Scenario A: Severe Impact
          4.3.    Scenario B: Slow Recovery
          4.4.    Scenario C: Fast Recovery

5.    Market Insights
          5.1.    Introduction
          5.2.    Market Dynamics
          5.3.    Drivers
                       5.3.1.    Supportive Government Policies and Regulations
                       5.3.2.    Rising Deployment of EV Charging Stations by Shared Mobility Operator
                       5.3.3.    Increasing Investments in EV Ecosystem
          5.4.    Restraints
                       5.4.1.    Lack of charging infrastructure in developing countries
          5.5.    Opportunities 
                       5.5.1.    Decreasing Prices of Batteries
                       5.5.2.    Fleet Electrification Target of Government Across the Region
          5.6.    Challenges
                       5.6.1.    Range Limitations of Electric Vehicles
                       5.6.2.    Lack of Fast-charging Infrastructure
          5.7.    Trends
                       5.6.1.    Increasing Investments in R&D for Smart Charging Systems

6.    North American Electric Cars Market, by Propulsion Type
          6.1.    Introduction
          6.2.    Hybrid Vehicles
                       6.2.1.    Pure Hybrid Electric Vehicles
                       6.2.2.    Plug-In Hybrid Electric Vehicles
          6.3.    Battery Electric Vehicles
          6.4.    Fuel Cell Electric Vehicles

7.    North American Electric Cars Market, by Power Output
          7.1.    Introduction
          7.2.    Less than 100KW
          7.3.    100KW to 250KW 

8.    North America Electric Car Market, by End Use
          8.1.    Introduction
          8.2.    Private Use
          8.3.    Commercial Use

9.    North America Electric Car Market, by Geography
          9.1.    Introduction
          9.2.    North America
                       9.2.1.    U.S.
                       9.2.2.    Canada     

10.    Competitive Landscape    
            10.1.    Introduction    
            10.2.    Key Growth Strategies    
            10.3.    Competitive Benchmarking    
            10.4.    Market Share Analysis    
                          10.4.1.    Tesla, Inc.    
                          10.4.2.    General Motors Company    
                          10.4.3.    Ford Motor Company    

11.    Company Profiles    
            11.1.    Tesla, Inc.    
            11.1.1.    Business Overview    
                          11.1.2.    Product Portfolio    
                          11.1.3.    Strategic Developments    
            11.2.    General Motors Company    
                          11.2.1.    Business Overview    
                          11.2.2.    Product Portfolio    
                          11.2.3.    Strategic Developments
            11.3.    Ford Motor Company        
                          11.3.1.    Business Overview    
                          11.3.2.    Product Portfolio    
                          11.3.3.    Strategic Developments    
            11.4.    Rivian, LLC    
                          11.4.1.    Business Overview    
                          11.4.2.    Product Portfolio    
                          11.4.3.    Strategic Developments    
            11.5.    Bollinger Motors Inc.    
                          11.5.1.    Business Overview    
                          11.5.2.    Product Portfolio    
                          11.5.3.    Strategic Developments
            11.6.    Alcraft Motor Company Ltd 
                          11.6.1.    Business Overview    
                          11.6.2.    Product Portfolio    
                          11.6.3.    Strategic Developments    
            11.7.    Nissan Motor Co., Ltd.    
                          11.7.1.    Business Overview    
                          11.7.2.    Product Portfolio    
                          11.7.3.    Strategic Developments    
            11.8.    NIO Inc.    
                          11.8.1.    Business Overview    
                          11.8.2.    Product Portfolio    
                          11.8.3.    Strategic Developments    
            11.9.    AB Volvo
                          11.9.1.    Business Overview    
                          11.9.2.    Product Portfolio    
                          11.9.3.    Strategic Developments    
            11.10.    Groupe Renault    
                          11.10.1.    Business Overview    
                          11.10.2.    Product Portfolio    
                          11.10.3.    Strategic Developments    

12.    Appendix
            12.1.    Questionnaire    
            12.2.    Available Customization

List of Tables :

Table 1    Market Size and CAGR (USD Million)
Table 2    Electric Cars Market Size in North America, by Propulsion Type, 2019–2028 (USD Million)
Table 3    Hybrid Vehicles Market Size, by Type, 2019–2028 (USD Million)
Table 4    Hybrid Vehicles Market Size, by Country, 2019–2028 (USD Million)
Table 5    Pure Hybrid Electric Vehicles Market Size, by Country, 2019–2028 (USD Million)
Table 6    Plug-In Hybrid Electric Vehicles Market Size, by Country, 2019–2028 (USD Million)
Table 7    Battery Electric Vehicles Market Size, by Country, 2019–2028 (USD Million)
Table 8    Fuel Cell Electric Vehicles Market Size, by Country, 2019–2028 (USD Million)
Table 9    Electric Cars Market Size in North America, by Power Output, 2019–2028 (USD Million)
Table 10    Less Than 100kw Electric Cars Market Size in North America, by Country, 2019–2028 (USD Million)
Table 11    100kw to 250kw Electric Cars Market Size in North America, by Country, 2019–2028 (USD Million)
Table 12    Electric Cars Market Size in North America, by End Use, 2019–2028 (USD Million) 
Table 13    Electric Cars Market Size in North America for Private Use, by Country, 2019–2028 (USD Million)    
Table 14    Electric Cars Market Size in North America for Commercial Use, by Country, 2019–2028 (USD Million)
Table 15    Electric Cars Market Size in North America, by Country, 2019-2028 (USD Million)      
Table 16    Electric Cars Market Volume in North America, by Country, 2019-2028 (Unit Thousand)
Table 17    U.S.: Electric Cars Market Size in North America, by Propulsion Type, 2019–2028 (USD Million)
Table 18    U.S.: Hybrid Vehicles Market Size in North America, by Type, 2019–2028 (USD Million)
Table 19    U.S.: Electric Cars Market Size in North America, by Power Output, 2019–2028 (USD Million)
Table 20    U.S.: Electric Cars Market Size in North America, by End Use, 2019–2028 (USD Million)
Table 21    Canada: Electric Cars Market Size in North America, by Propulsion Type, 2019–2028 (USD Million)    
Table 22    Canada: Hybrid Vehicles Market Size in North America, by Type, 2019–2028 (USD Million)    
Table 23    Canada: Electric Cars Market Size in North America, by Power Output, 2019–2028 (USD Million)    
Table 24    Canada: Electric Cars Market Size in North America, by End Use, 2019–2028 (USD Million)     

List of Figures :

Figure 1        Currency and Limitations    
Figure 2        Research Process    
Figure 3        Key Secondary Sources    
Figure 4        Primary Research Techniques    
Figure 5        Key Executives Interviewed    
Figure 6        Market Size Estimation
Figure 7        Key Insights    
Figure 8        North American Electric Cars Market, by Propulsion Type, 2021 Vs. 2028, (USD Billion)    
Figure 9        North American Electric Cars Market, by Power Output, 2021 Vs. 2028, (USD Billion)
Figure 10    North American Electric Cars Market, by End Use, 2021 Vs. 2028, (USD Billion)    
Figure 11    Geographic Snapshot: The North America Electric Cars Market, (Value Share & CAGR)
Figure 12    Geographic Snapshot: The North American Electric Cars Market, (Volume Share & CAGR)     
Figure 13    The Impact of Covid-19 on the North American Electric Cars Market (Value)    
Figure 14    North American Electric Cars Market Size, by Propulsion Type, 2021–2028 (USD Million)    
Figure 15    Electric Cars Market Size in North America, by Power Output, 2021–2028 (USD Million)    
Figure 16    Electric Cars Market Size in North America, by End Use, 2021–2028 (USD Million)    
Figure 17    Electric Cars Market Size in North America, by Geography, 2021–2028 (USD Million)
Figure 18    Electric Cars Market Size in North America, by Geography, 2021–2028 (Unit Thousand)     
Figure 19    Key Growth Strategies Adopted by Leading Players, 2017–2020    
Figure 20    North American Electric Cars Market: Competitive Benchmarking
Figure 21    Market Share Analysis: The North American Electric Cars Market, 2020
Figure 22    Tesla, Inc.: Financial Overview, 2020    
Figure 23    General Motors Company: Financial Overview, 2020    
Figure 24    Ford Motor Company: Financial Overview, 2020
Figure 25    Rivian, LLC: Financial Overview, 2020    
Figure 26    Bollinger Motors Inc.: Financial Overview, 2020     
Figure 27    Alcraft Motor Company Ltd: Financial Overview, 2020     
Figure 28    Nissan Motor Co., Ltd.: Financial Overview, 2020     
Figure 29    NIO Inc.: Financial Overview, 2020
Figure 30    AB Volvo: Financial Overview, 2020    
Figure 31    Groupe Renault: Financial Overview, 2020      

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1.    Introduction
          1.1.    Market Definition
          1.2.    Market Ecosystem
          1.3.    Currency and Limitations
          1.4.    Key Stakeholders

2.    Research Methodology
          2.1.    Research Process
          2.2.    Data Collection & Validation
                       2.2.1.    Secondary Research
                       2.2.2.    Primary Research 
          2.3.    Market Assessment
                       2.3.1.    Market Size Estimation 
                                      2.3.1.1.    Bottom-Up Approach
                                      2.3.1.2.    Growth forecast
                                      2.3.1.3.    COVID-19 Impact Assessment 
          2.4.    Assumptions for The Study

3.    Executive Summary

4.    The Impact of COVID-19
          4.1.    Covid-19 Impact on the North American Electric Cars Market
          4.2.    Scenario A: Severe Impact
          4.3.    Scenario B: Slow Recovery
          4.4.    Scenario C: Fast Recovery

5.    Market Insights
          5.1.    Introduction
          5.2.    Market Dynamics
          5.3.    Drivers
                       5.3.1.    Supportive Government Policies and Regulations
                       5.3.2.    Rising Deployment of EV Charging Stations by Shared Mobility Operator
                       5.3.3.    Increasing Investments in EV Ecosystem
          5.4.    Restraints
                       5.4.1.    Lack of charging infrastructure in developing countries
          5.5.    Opportunities 
                       5.5.1.    Decreasing Prices of Batteries
                       5.5.2.    Fleet Electrification Target of Government Across the Region
          5.6.    Challenges
                       5.6.1.    Range Limitations of Electric Vehicles
                       5.6.2.    Lack of Fast-charging Infrastructure
          5.7.    Trends
                       5.6.1.    Increasing Investments in R&D for Smart Charging Systems

6.    North American Electric Cars Market, by Propulsion Type
          6.1.    Introduction
          6.2.    Hybrid Vehicles
                       6.2.1.    Pure Hybrid Electric Vehicles
                       6.2.2.    Plug-In Hybrid Electric Vehicles
          6.3.    Battery Electric Vehicles
          6.4.    Fuel Cell Electric Vehicles

7.    North American Electric Cars Market, by Power Output
          7.1.    Introduction
          7.2.    Less than 100KW
          7.3.    100KW to 250KW 

8.    North America Electric Car Market, by End Use
          8.1.    Introduction
          8.2.    Private Use
          8.3.    Commercial Use

9.    North America Electric Car Market, by Geography
          9.1.    Introduction
          9.2.    North America
                       9.2.1.    U.S.
                       9.2.2.    Canada     

10.    Competitive Landscape    
            10.1.    Introduction    
            10.2.    Key Growth Strategies    
            10.3.    Competitive Benchmarking    
            10.4.    Market Share Analysis    
                          10.4.1.    Tesla, Inc.    
                          10.4.2.    General Motors Company    
                          10.4.3.    Ford Motor Company    

11.    Company Profiles    
            11.1.    Tesla, Inc.    
            11.1.1.    Business Overview    
                          11.1.2.    Product Portfolio    
                          11.1.3.    Strategic Developments    
            11.2.    General Motors Company    
                          11.2.1.    Business Overview    
                          11.2.2.    Product Portfolio    
                          11.2.3.    Strategic Developments
            11.3.    Ford Motor Company        
                          11.3.1.    Business Overview    
                          11.3.2.    Product Portfolio    
                          11.3.3.    Strategic Developments    
            11.4.    Rivian, LLC    
                          11.4.1.    Business Overview    
                          11.4.2.    Product Portfolio    
                          11.4.3.    Strategic Developments    
            11.5.    Bollinger Motors Inc.    
                          11.5.1.    Business Overview    
                          11.5.2.    Product Portfolio    
                          11.5.3.    Strategic Developments
            11.6.    Alcraft Motor Company Ltd 
                          11.6.1.    Business Overview    
                          11.6.2.    Product Portfolio    
                          11.6.3.    Strategic Developments    
            11.7.    Nissan Motor Co., Ltd.    
                          11.7.1.    Business Overview    
                          11.7.2.    Product Portfolio    
                          11.7.3.    Strategic Developments    
            11.8.    NIO Inc.    
                          11.8.1.    Business Overview    
                          11.8.2.    Product Portfolio    
                          11.8.3.    Strategic Developments    
            11.9.    AB Volvo
                          11.9.1.    Business Overview    
                          11.9.2.    Product Portfolio    
                          11.9.3.    Strategic Developments    
            11.10.    Groupe Renault    
                          11.10.1.    Business Overview    
                          11.10.2.    Product Portfolio    
                          11.10.3.    Strategic Developments    

12.    Appendix
            12.1.    Questionnaire    
            12.2.    Available Customization

List of Tables :

Table 1    Market Size and CAGR (USD Million)
Table 2    Electric Cars Market Size in North America, by Propulsion Type, 2019–2028 (USD Million)
Table 3    Hybrid Vehicles Market Size, by Type, 2019–2028 (USD Million)
Table 4    Hybrid Vehicles Market Size, by Country, 2019–2028 (USD Million)
Table 5    Pure Hybrid Electric Vehicles Market Size, by Country, 2019–2028 (USD Million)
Table 6    Plug-In Hybrid Electric Vehicles Market Size, by Country, 2019–2028 (USD Million)
Table 7    Battery Electric Vehicles Market Size, by Country, 2019–2028 (USD Million)
Table 8    Fuel Cell Electric Vehicles Market Size, by Country, 2019–2028 (USD Million)
Table 9    Electric Cars Market Size in North America, by Power Output, 2019–2028 (USD Million)
Table 10    Less Than 100kw Electric Cars Market Size in North America, by Country, 2019–2028 (USD Million)
Table 11    100kw to 250kw Electric Cars Market Size in North America, by Country, 2019–2028 (USD Million)
Table 12    Electric Cars Market Size in North America, by End Use, 2019–2028 (USD Million) 
Table 13    Electric Cars Market Size in North America for Private Use, by Country, 2019–2028 (USD Million)    
Table 14    Electric Cars Market Size in North America for Commercial Use, by Country, 2019–2028 (USD Million)
Table 15    Electric Cars Market Size in North America, by Country, 2019-2028 (USD Million)      
Table 16    Electric Cars Market Volume in North America, by Country, 2019-2028 (Unit Thousand)
Table 17    U.S.: Electric Cars Market Size in North America, by Propulsion Type, 2019–2028 (USD Million)
Table 18    U.S.: Hybrid Vehicles Market Size in North America, by Type, 2019–2028 (USD Million)
Table 19    U.S.: Electric Cars Market Size in North America, by Power Output, 2019–2028 (USD Million)
Table 20    U.S.: Electric Cars Market Size in North America, by End Use, 2019–2028 (USD Million)
Table 21    Canada: Electric Cars Market Size in North America, by Propulsion Type, 2019–2028 (USD Million)    
Table 22    Canada: Hybrid Vehicles Market Size in North America, by Type, 2019–2028 (USD Million)    
Table 23    Canada: Electric Cars Market Size in North America, by Power Output, 2019–2028 (USD Million)    
Table 24    Canada: Electric Cars Market Size in North America, by End Use, 2019–2028 (USD Million)     

List of Figures :

Figure 1        Currency and Limitations    
Figure 2        Research Process    
Figure 3        Key Secondary Sources    
Figure 4        Primary Research Techniques    
Figure 5        Key Executives Interviewed    
Figure 6        Market Size Estimation
Figure 7        Key Insights    
Figure 8        North American Electric Cars Market, by Propulsion Type, 2021 Vs. 2028, (USD Billion)    
Figure 9        North American Electric Cars Market, by Power Output, 2021 Vs. 2028, (USD Billion)
Figure 10    North American Electric Cars Market, by End Use, 2021 Vs. 2028, (USD Billion)    
Figure 11    Geographic Snapshot: The North America Electric Cars Market, (Value Share & CAGR)
Figure 12    Geographic Snapshot: The North American Electric Cars Market, (Volume Share & CAGR)     
Figure 13    The Impact of Covid-19 on the North American Electric Cars Market (Value)    
Figure 14    North American Electric Cars Market Size, by Propulsion Type, 2021–2028 (USD Million)    
Figure 15    Electric Cars Market Size in North America, by Power Output, 2021–2028 (USD Million)    
Figure 16    Electric Cars Market Size in North America, by End Use, 2021–2028 (USD Million)    
Figure 17    Electric Cars Market Size in North America, by Geography, 2021–2028 (USD Million)
Figure 18    Electric Cars Market Size in North America, by Geography, 2021–2028 (Unit Thousand)     
Figure 19    Key Growth Strategies Adopted by Leading Players, 2017–2020    
Figure 20    North American Electric Cars Market: Competitive Benchmarking
Figure 21    Market Share Analysis: The North American Electric Cars Market, 2020
Figure 22    Tesla, Inc.: Financial Overview, 2020    
Figure 23    General Motors Company: Financial Overview, 2020    
Figure 24    Ford Motor Company: Financial Overview, 2020
Figure 25    Rivian, LLC: Financial Overview, 2020    
Figure 26    Bollinger Motors Inc.: Financial Overview, 2020     
Figure 27    Alcraft Motor Company Ltd: Financial Overview, 2020     
Figure 28    Nissan Motor Co., Ltd.: Financial Overview, 2020     
Figure 29    NIO Inc.: Financial Overview, 2020
Figure 30    AB Volvo: Financial Overview, 2020    
Figure 31    Groupe Renault: Financial Overview, 2020      

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