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North America Electric Vehicle (EV) Market

Release date:

Dec-2021

Region:

northamerica

Research Code:MRAUTO -104542

Sku:MRAUTO -104542

North America Electric Vehicle (EV) Market by Vehicle Type (Passenger Vehicle, LCV, HCV, Two-wheeler, e-Scooters & Bikes); Propulsion Type (BEV, FCEV, HEV); Power Output (Less Than 100kW, 100 kW to 250 kW); End Use, Charging Standard, and Country - Regional Forecast to 2028

  • Report ID: MRAUTO -104542
  • Pages: 110
  • Dec-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 Vehicle Market is expected to record a CAGR of 37.4% from 2021 to 2028 to reach $396.94 billion by 2028 from an estimated $42.8 billion in 2021. By volume, this market is expected to reach 5.8 million units by 2028 from an estimated 1.4 million units in 2021, at a CAGR of 22.8% during the forecast period. The growth of this market is attributed to supportive government policies and regulations, rising environmental concerns, increasing adoption of electric mobility. The growing adoption of autonomous driving vehicles, increasing adoption of electric vans and trucks for delivery and increasing trend of shared mobility are offering lucrative growth opportunities for this market's growth.

The Impact of COVID-19 on the North America Electric Vehicle Market

The COVID-19 pandemic outbreak has caused a widespread economic downturn. Several countries imposed strict lockdowns to contain the infection, leading to the shutdown of manufacturing industries and disruptions in supply chains and production schedules. There has been a significant impact on technology supply chains globally. During COVID-19, the U.S. was hit severely, causing significant life, resources, and economic damages. The adoption of EVs had fallen in the first & second quarters of 2020, while a slight growth was witnessed post second quarter. Consumer behavior has changed significantly since the pandemic. People have avoided shared mobility and public transit to reduce the risk of infection, while, due to remote working, distance traveled is also decreased. This has negatively affected the adoption of EVs. Leading investors have planned to double their investment in autonomous vehicles that positively impact the EV market in the forecast period.

Zero-emission vehicle (ZEV) sales of Canada witnessed a decline in the second quarter of 2020. According to Electric Mobility Canada (EMC), only 9,069 sold between April and June 2020. That number includes battery electric vehicles, plug-in hybrids, and hydrogen fuel cell vehicles. The 2020 sales results represent a drop of over 50% from the 18,032 sold in the second quarter of 2019. Furthermore, EVs’ entire light vehicle market share in Q2 dropped by 2.9% from the 3.4% from the same period in 2019. The sales of EVs were down by 45% in the second quarter and by 34% in the first half of 2020, due to the widespread economic shutdowns in effect throughout most of Canada since mid-March. However, the total number of ZEVs in Canada continues to grow. According to EMC, the total number of ZEVs has reached an estimated 168,000, with 75,000 of those located in Quebec, 46,000 in Ontario, and 41,000 in British Columbia, and continue to grow in the coming years.

The North America electric vehicle market study presents historical market data in terms of value and volume (2019 and 2020), estimated current data (2021), and forecasts for 2028. The market is segmented based on vehicle type, propulsion type, power output, charging standard, end use, and geography. The study also evaluates industry competitors and analyses the market at the country level.

North America Electric Vehicle (EV) Market

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Increasing Investments in EV Ecosystem

The automotive industry of North America is rapidly shifting from fuel-based vehicles to electric vehicles. Increasing investments and incorporating innovative technologies by automotive OEMs in EVs and the development of advanced charging systems and batteries are driving this market growth in North America. Several industries worldwide invest heavily to make strides in the decarbonization of transport and equipment and improve air quality in cities through greater investments in passenger trucks, light commercial vehicles, and e-scooters. Increasing the adoption of electric vehicles to control pollution and carbon emissions, growing awareness about the use of electric vehicles to reduce emissions, and stringent government rules and emissions regulations towards vehicle emission are driving the demand for EVs and contributing to overall market growth. In May 2021, South Korean automotive company Hyundai Motor Group announced plans to invest USD 7.4 billion in the U.S. by 2025. The investments aim to produce electric vehicles, upgrade production facilities, and further invest in smart mobility solutions. Hyundai's investments plan comes as U.S. President Joe Biden's administration prioritized a strict regulation for electric vehicles, aiming to replace the 650,000 vehicles in federal fleets with the U.S.-made electric vehicles.

The Canadian government is investing in EVs and charging infrastructures to build a clean energy future to strengthen the economy, create job opportunities, and promote support to workers in the natural resource sectors. In June 2021, Natural Resources of Canada (NRC) funded USD 2.3 million to the British Columbia Hydro and Power Authority for installing 47 EV fast chargers across Columbia province to decarbonize the environment. This fund is initiated through NRC's Electric Vehicle and Alternative Fuel Infrastructure Deployment Initiative (AFIDI). Additionally, The Government of British Columbia is investing USD 1.2 million through the CleanBC Go Electric program towards the AFIDI initiative. These investments and initiatives are propelling the adoption of EVs in North America.

Key Findings in the North America Electric Vehicle Market Study:

During the forecast period, the light commercial vehicles segment is expected to grow at the highest CAGR.

Based on vehicle type, the North America electric vehicle market is segmented into passenger vehicles, light commercial vehicles, heavy commercial vehicles, two-wheelers, and e-scooters & bikes. In 2021, the light commercial vehicles segment is expected to grow at the highest CAGR during the forecast period. The high growth of this segment is mainly driven by the growing awareness regarding the role of electric vehicles in reducing emissions, an increase in demand for electric vehicles to reduce fleet emissions, and stringent government rules and regulations towards vehicle emissions. Electric LCVs are a key element of urban distribution and transport systems and offer a promising low-emission solution. They require low maintenance and have relatively lower operating costs, as there is no need to lubricate the engines nor the maintenance costs associated with gas engines. Electric LCVs contribute to reducing greenhouse gas emissions and reducing the dependence on fuels. These are the key factors driving the adoption of electric light commercial vehicles.

The fuel cell electric vehicles segment is expected to grow at the highest CAGR during the forecast period.

Based on propulsion type, the North America electric vehicle market is segmented into battery electric vehicles, hybrid vehicles, and fuel cell electric vehicles. In 2021, the fuel cell electric vehicles segment is expected to grow at the highest CAGR during the forecast period. The high growth of this segment is mainly driven by the increasing demand for vehicles with low carbon emissions, a growing emphasis on the adoption of FCEVs due to advantages such as fast refueling and increasing government initiatives and investments for advancing fuel cell technology. Several major players and governments across the region are trying to encourage the use of hydrogen fuel cells for vehicles through various policies, investments, and regulations.

The more than 250kW segment is expected to grow at the highest CAGR during the forecast period.

Based on power output, the North America electric vehicle market is segmented into less than 100kW, 100kW to 250kW, and more than 250kW. In 2021, the More than 250kW segment is expected to grow at the highest CAGR during the forecast period. The growth of this segment is attributed to the increasing adoption of electric buses and trucks for heavy applications, the implementation of numerous wireless EV charging pilot projects for heavy commercial vehicles, and the increasing adoption of electric mobility in emerging economies.

The commercial use segment is expected to grow at the highest CAGR during the forecast period.

Based on end use, the North America electric vehicle market is segmented into private use, commercial use, and industrial use. In 2021, the commercial use segment is expected to grow at the highest CAGR during the forecast period. The growth is mainly driven by the increase in fuel prices and stringent emission norms set by governments, the growing adoption of autonomous delivery vehicles, and the increasing adoption of electric buses and trucks. Electric commercial vehicles help lower greenhouse gas emissions, reduce dependence on fossil fuels, ensure smooth operation, and meet the latest emissions regulations. Electric buses are the most commonly used EVs for commercial applications. E-trucks are used for distribution and courier services. These vehicles have to cover long distances, as buses or trucks are required to travel a distance of 200 to 300 kilometers.

Canada to be the fastest-growing market in North America

Canada is expected to record the highest CAGR during the forecast period. The local government's policies majorly drive the Canadian EV market and incentives, increased driving range, and affordable vehicle prices due to increased spending of consumers on environment-friendly automobiles and developing infrastructure resulting in faster charging times. Canada’s mission to eliminate transportation emissions in the coming years has enabled governments to introduce numerous policies and incentive programs to increase EV adoption and reduce emissions. For instance, in May 2019, the Government of Canada launched the Incentives for Zero-Emission Vehicles (iZEV) Program to encourage EV adoption. On the purchase or lease of ZEV, the government provides iZEV Program incentives of up to USD 5,000. The authorities have set targets for enhancing the adoption of EVs in the country.

Key Players

The key players operating in the North America electric vehicle market are AB Volvo (Sweden), BMW Group (Germany), BYD Company Ltd. (China), Daimler AG (Germany), Faraday & Future Inc. (U.S.), Tata Motors Limited (India), Ford Motor Company (U.S.), General Motors Company (U.S.), Honda Motor Co., Ltd. (Japan), Hyundai Motor Company (South Korea), Zero Electric Vehicles Inc. (U.S.), Nissan Motor Co., Ltd. (Japan), Rivian LLC (U.S.), Tesla, Inc. (U.S.), and Volkswagen AG (Germany).

Scope of the Report:

North America Electric Vehicle Market, by Vehicle Type

  • Passenger Vehicle
  • Light Commercial Vehicles
  • Heavy Commercial Vehicles
  • Two-wheeler
  • e-Scooters & Bikes

North America Electric Vehicle Market, by Propulsion Type

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

North America Electric Vehicle Market, by Power Output

  • Less Than 100 KW
  • 100 KW to 250 KW
  • More Than 250 KW

North America Electric Vehicle Market, by End Use

  • Private Use
  • Commercial Use
    • Shared Mobility
    • Micromobility
    • Public Transport
  • Industrial Use

North America Electric Vehicle Market, by Geography

  • U.S.
  • Canada

Key Questions Answered in the Report:

What is the focus of the North American electric vehicles market report?

The North American electric vehicles market report covers the market size & forecasts by vehicle type, propulsion type, power output, charging standard, end use, and geography. The market study involves the value analysis of various electric vehicles segments at the country level.

What is the value of revenue generated from electric vehicles across the region? At what rate is the demand expected to grow for the next 5-7 years?

The North American electric vehicles market is poised to grow at a CAGR of 37.4% from 2021 to 2028 to reach $ 396.94 billion by 2028 from an estimated $ 42.8 billion in 2021.

Which vehicle type category held the major share of the market in 2020?

The passenger vehicles segment accounted for the largest share of the North American electric vehicles market in 2020.

Which is the largest share end use segment of the North American electric vehicles market in 2020?

The private use segment accounted for the largest share of North American electric vehicles in 2020.

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 vehicles market?

The growth of this market is attributed to supportive government policies and regulations, rising environmental concerns, increasing adoption of electric mobility. The growing adoption of autonomous driving vehicles, increasing adoption of electric vans and trucks for delivery, and increasing trend of shared mobility offer lucrative growth opportunities for this market's growth.

Who are the major players operating in the North American electric vehicles market?

The key players operating in the North American electric vehicles market are AB Volvo (Sweden), BMW Group (Germany), BYD Company Ltd. (China), Daimler AG (Germany), Faraday & Future Inc. (U.S.), Tata Motors Limited (India), Ford Motor Company (U.S.), General Motors Company (U.S.), Honda Motor Co., Ltd. (Japan), Hyundai Motor Company (South Korea), Zero Electric Vehicles Inc. (U.S.), Nissan Motor Co., Ltd. (Japan), Rivian LLC (U.S.), Tesla, Inc. (U.S.), Volkswagen AG (Germany).

Which country is likely to offer significant growth opportunities for the vendors in this market during the analysis period?

Canada is projected to offer significant growth opportunities for the vendors in this market due to the local government's policies and incentives, increased driving range, and affordable vehicle prices due to increased spending of consumers on environment-friendly automobiles and developing infrastructure resulting in faster charging times.

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

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 Operators
                 5.3.3.    Increasing Investments in EV Ecosystem
       5.4.    Restraints
                 5.4.1.    Lack of Consumer Adoption of EVs
       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 Anxiety of Electric Vehicles
                 5.6.2.    Lack of Fast-Charging Infrastructure
       5.7.    Trend
                 5.7.1.    Increasing Investments in R&D for Smart Charging Systems
       5.8.    Value Chain Analysis

6.   North America Electric Vehicle Market, by Vehicle Type
       6.1.    Introduction
       6.2.    Passenger Vehicles
       6.3.    E-Scooters & Bikes
       6.4.    Heavy Commercial Vehicles
       6.5.    Light Commercial Vehicles
       6.6.    Two-Wheelers

7.   North America Electric Vehicle Market, by Propulsion Type
       7.1.    Introduction
       7.2.    Hybrid Electric Vehicles
                 7.2.1.    Pure Hybrid Electric Vehicles
                 7.2.2.    Plug-In Hybrid Electric Vehicles
       7.3.    Battery Electric Vehicles
       7.4.    Fuel Cell Electric Vehicles

8.   North America Electric Vehicle Market, by Power Output
       8.1.    Introduction
       8.2.    Less than 100kW
       8.3.    100kW to 250kW
       8.4.    More than 250kW

9.   North America Electric Vehicle Market, by End Use
       9.1.    Introduction
       9.2.    Private Use
       9.3.    Commercial Use
                 9.3.1.    Shared Mobility
                 9.3.2.    Micromobility
                 9.3.3.    Public Transport
       9.4.    Industrial Use

10.   North America Electric Vehicle Market, by Charging Standard
        10.1.    Introduction
        10.2.    Guobiao Standards (GB/T)
        10.3.    Charge De Move (CHADEMO)
        10.4.    Combined Charging System (CCS)
        10.5.    Tesla Supercharger
        10.6.    Type 1 (SAE J1772)
        10.7.    Type 2 (IEC 62196)

11.   North America Electric Vehicle Market, by Geography
        11.1.    Introduction
        11.2.    U.S.
        11.3.    Canada

12.    Competitive Landscape
        12.1.    Introduction
        12.2.    Key Growth Strategies
        12.3.    Market Share Analysis
                   12.3.1.    Tesla, Inc.
                   12.3.2.    Volkswagen AG
                   12.3.3.    BYD Company Ltd.

13.    Company Profiles
        13.1.    Tesla, Inc.                   
                   13.1.1.    Business Overview
                   13.1.2.    Product Portfolio
                   13.1.3.    Strategic Developments
        13.2.    BMW Group
                   13.2.1.    Business Overview
                   13.2.2.    Product Portfolio
                   13.2.3.    Strategic Developments
        13.3.    BYD Company Ltd.
                   13.3.1.    Business Overview
                   13.3.2.    Product Portfolio
                   13.3.3.    Strategic Developments
        13.4.    Volkswagen AG
                   13.4.1.    Business Overview
                   13.4.2.    Product Portfolio
                   13.4.3.    Strategic Developments
        13.5.    Hyundai Motor Company
                   13.5.1.    Business Overview
                   13.5.2.    Product Portfolio
                   13.5.3.    Strategic Developments
        13.6.    AB Volvo
                   13.6.1.    Business Overview
                   13.6.2.    Product Portfolio
                   13.6.3.    Strategic Developments
        13.7.    Daimler AG
                   13.7.1.    Business Overview
                   13.7.2.    Product Portfolio
                   13.7.3.    Strategic Developments
        13.8.    Ford Motor Company
                   13.8.1.    Business Overview
                   13.8.2.    Product Portfolio
                   13.8.3.    Strategic Developments
        13.9.    General Motors Company
                   13.9.1.    Business Overview
                   13.9.2.    Product Portfolio
                   13.9.3.    Strategic Developments
        13.10.    Honda Motor Co., Ltd.
                   13.10.1.    Business Overview
                   13.10.2.    Product Portfolio
                   13.10.3.    Strategic Developments
        13.11.    Nissan Motor Co., Ltd.
                   13.11.1.    Business Overview
                   13.11.2.    Product Portfolio
                   13.11.3.    Strategic Developments
        13.12.    Tata Motors Limited
                   13.12.1.    Business Overview                   
                   13.12.2.    Product Portfolio
                   13.12.3.    Strategic Developments
        13.13.    Faraday & Future Inc.
                   13.13.1.    Business Overview
                   13.13.2.    Product Portfolio
                   13.13.3.    Strategic Developments
        13.14.    Zero Electric Vehicles Inc.
                   13.14.1.    Business Overview
                   13.14.2.    Product Portfolio
                   13.14.3.    Strategic Developments
        13.15.    Rivian, LLC
                   13.15.1.    Business Overview
                   13.15.2.    Product Portfolio
                   13.15.3.    Strategic Developments

14.    Appendix
        14.1.    Questionnaire
        14.2.    Available Customization

List of Tables

Table 1     Market Size and CAGR (USD Million)
Table 2     North America Electric Vehicle Market Size, by Vehicle Type, 2019–2028 (USD Million)
Table 3     North America Electric Vehicle Market Volume, by Vehicle Type, 2019–2028 (Thousand Units)
Table 4     North American Electric Passenger Vehicles Market Size, by Country/Region, 2019–2028 (USD Million)
Table 5     North American Electric Light Commercial Vehicles Market Size, by Country/Region, 2019–2028 (USD Million)
Table 6     North American Electric E-Scooters & Bikes Market Size, by Country/Region, 2019–2028 (USD Million)
Table 7     North American Electric Heavy Commercial Vehicles Market Size, by Country/Region, 2019–2028 (USD Million)
Table 8     North American Electric Two-Wheelers Market Size, by Country/Region, 2019–2028 (USD Million)
Table 9     North America Electric Vehicle Market Size, by Propulsion Type, 2019–2028 (USD Million)
Table 10   North American Hybrid Vehicles Market Size, by Type, 2019–2028 (USD Million)
Table 11   Hybrid Vehicles Market Size, by Country, 2019–2028 (USD Million)
Table 12   North American Pure Hybrid electric vehicle market Size, by Country, 2019–2028 (USD Million)
Table 13   North American Plug-In Hybrid Electric Vehicle Market Size, by Country, 2019–2028 (USD Million)
Table 14   North American Battery Electric Vehicle Market Size, by Country/Region, 2019–2028 (USD Million)
Table 15   North American Fuel Cell Electric Vehicle Market Size, by Country, 2019–2028 (USD Million)
Table 16   North America Electric Vehicle Market Size, by Power Output, 2019–2028 (USD Million)
Table 17   North American Less Than 100kW Electric Vehicle Market Size, by Country, 2019–2028 (USD Million)
Table 18   North American 100kW to 250kW Electric Vehicle Market Size, by Country, 2019–2028 (USD Million)
Table 19   North American More Than 250kW Electric Vehicle Market Size, by Country, 2019–2028 (USD Million)
Table 20   North America Electric Vehicle Market Size, by End Use, 2019–2028 (USD Million)
Table 21   North America Electric Vehicle Market Size for Private Use, by Country, 2019–2028 (USD Million)
Table 22   North America Electric Vehicle Market Size for Commercial Use, by Type, 2019–2028 (USD Million)
Table 23   North America Electric Vehicle Market Size for Commercial Use, by Country, 2019–2028 (USD Million)
Table 24   North America Electric Vehicle Market Size for Shared Mobility, by Country, 2019–2028 (USD Million)
Table 25   North America Electric Vehicle Market Size for Micromobility, by Country, 2019–2028 (USD Million)
Table 26   North America Electric Vehicle Market Size for Public Transport, by Country/Region, 2019–2028 (USD Million)
Table 27   North America Electric Vehicle Market Size for Industrial Use, by Country/Region, 2019–2028 (USD Million)
Table 28   North America Electric Vehicle Market Size, by Country, 2019-2028 (USD Million)
Table 29   North America Electric Vehicle Market Volume, by Country, 2019–2028 (Thousand Units)
Table 30    U.S.: Electric Vehicle Market Size, by Vehicle Type, 2019–2028 (USD Million)
Table 31    U.S.: Electric Vehicle Market Volume, by Vehicle Type, 2019–2028 (Thousand Units)
Table 32    U.S.: Electric Vehicle Market Size, by Propulsion Type, 2019–2028 (USD Million)
Table 33    U.S.: Hybrid Vehicles Market Size, by Type, 2019–2028 (USD Million)
Table 34    U.S.: Electric Vehicle Market Size, by Power Output, 2019–2028 (USD Million)
Table 35    U.S.: Electric Vehicle Market Size, by End Use, 2019–2028 (USD Million)
Table 36    U.S.: Electric Vehicle Market Size for Commercial Use, by Type, 2019–2028 (USD Million)
Table 37    Canada: Electric Vehicle Market Size, by Vehicle Type, 2019–2028 (USD Million)
Table 38    Canada: Electric Vehicle Market Volume, by Vehicle Type, 2019–2028 (Thousand Units)
Table 39    Canada: Electric Vehicle Market Size, by Propulsion Type, 2019–2028 (USD Million)
Table 40    Canada: Hybrid Vehicles Market Size, by Type, 2019–2028 (USD Million)
Table 41    Canada: Electric Vehicle Market Size, by Power Output, 2019–2028 (USD Million)
Table 42    Canada: Electric Vehicle Market Size, by End Use, 2019–2028 (USD Million)
Table 43    Canada: Electric Vehicle Market Size for Commercial Use, by Type, 2019–2028 (USD Million)
Table 44    Electric Vehicle Market: Recent Developments, by Company, 2018–2021

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 America Electric Vehicle Market, by Vehicle Type, 2021 Vs. 2028, (USD Million)
Figure 9       North America Electric Vehicle Market, by Propulsion Type, 2021 Vs. 2028, (USD Million)
Figure 10   North America Electric Vehicle Market, by Power Output, 2021 Vs. 2028, (USD Million)
Figure 11   North America Electric Vehicle Market, by End Use, 2021 Vs. 2028, (USD Million)
Figure 12    Geographic Snapshot: North America Electric Vehicle Market, (Value Share & CAGR)
Figure 13    Geographic Snapshot: North America Electric Vehicle Market, (Volume Share & CAGR)
Figure 14    The Impact of Covid-19 on the North America Electric Vehicle Market
Figure 15    Global EV Battery Pack Prices, 2016-2020 (USD Per KWH)
Figure 16    Electric Vehicles Value Chain
Figure 17   North America Electric Vehicle Market Size, by Vehicle Type, 2021–2028 (USD Million)
Figure 18   North America Electric Vehicle Market Volume, by Vehicle Type, 2021–2028 (Thousand Units)
Figure 19   North America Electric Vehicle Market Size, by Propulsion Type, 2021–2028 (USD Million)
Figure 20   North America Electric Vehicle Market Size, by Power Output, 2021–2028 (USD Million)
Figure 21   North America Electric Vehicle Market Size, by End Use, 2021–2028 (USD Million)
Figure 22   North America Electric Vehicle Market Size, by Geography, 2021–2028 (USD Million)
Figure 23   North America Electric Vehicle Market Volume by Geography, 2021–2028 (Thousand Units)
Figure 24    Key Growth Strategies Adopted by Leading Players, 2018–2021
Figure 25    Market Share Analysis: North America Electric Vehicle Market, 2020
Figure 26    Tesla, Inc.: Financial Overview (2020)
Figure 27    BMW Group: Financial Overview (2020)
Figure 28    BYD Company Ltd.: Financial Overview (2020)
Figure 29    Volkswagen AG: Financial Overview (2020)
Figure 30    Hyundai Motor Company: Financial Overview (2020)
Figure 31    AB Volvo: Financial Overview (2020)
Figure 32    Daimler AG: Financial Overview (2020)
Figure 33    Ford Motor Company: Financial Overview (2020)
Figure 34    General Motors Company: Financial Overview (2019)
Figure 35    Honda Motor Co., Ltd.: Financial Overview (2020)
Figure 36    Nissan Motor Co., Ltd.: Financial Overview (2020)
Figure 37    Tata Motors Limited: Financial Overview (2020)

 
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Related Research

The North America Electric Vehicle Market is expected to record a CAGR of 37.4% from 2021 to 2028 to reach $396.94 billion by 2028 from an estimated $42.8 billion in 2021. By volume, this market is expected to reach 5.8 million units by 2028 from an estimated 1.4 million units in 2021, at a CAGR of 22.8% during the forecast period. The growth of this market is attributed to supportive government policies and regulations, rising environmental concerns, increasing adoption of electric mobility. The growing adoption of autonomous driving vehicles, increasing adoption of electric vans and trucks for delivery and increasing trend of shared mobility are offering lucrative growth opportunities for this market's growth.

The Impact of COVID-19 on the North America Electric Vehicle Market

The COVID-19 pandemic outbreak has caused a widespread economic downturn. Several countries imposed strict lockdowns to contain the infection, leading to the shutdown of manufacturing industries and disruptions in supply chains and production schedules. There has been a significant impact on technology supply chains globally. During COVID-19, the U.S. was hit severely, causing significant life, resources, and economic damages. The adoption of EVs had fallen in the first & second quarters of 2020, while a slight growth was witnessed post second quarter. Consumer behavior has changed significantly since the pandemic. People have avoided shared mobility and public transit to reduce the risk of infection, while, due to remote working, distance traveled is also decreased. This has negatively affected the adoption of EVs. Leading investors have planned to double their investment in autonomous vehicles that positively impact the EV market in the forecast period.

Zero-emission vehicle (ZEV) sales of Canada witnessed a decline in the second quarter of 2020. According to Electric Mobility Canada (EMC), only 9,069 sold between April and June 2020. That number includes battery electric vehicles, plug-in hybrids, and hydrogen fuel cell vehicles. The 2020 sales results represent a drop of over 50% from the 18,032 sold in the second quarter of 2019. Furthermore, EVs’ entire light vehicle market share in Q2 dropped by 2.9% from the 3.4% from the same period in 2019. The sales of EVs were down by 45% in the second quarter and by 34% in the first half of 2020, due to the widespread economic shutdowns in effect throughout most of Canada since mid-March. However, the total number of ZEVs in Canada continues to grow. According to EMC, the total number of ZEVs has reached an estimated 168,000, with 75,000 of those located in Quebec, 46,000 in Ontario, and 41,000 in British Columbia, and continue to grow in the coming years.

The North America electric vehicle market study presents historical market data in terms of value and volume (2019 and 2020), estimated current data (2021), and forecasts for 2028. The market is segmented based on vehicle type, propulsion type, power output, charging standard, end use, and geography. The study also evaluates industry competitors and analyses the market at the country level.

North America Electric Vehicle (EV) Market

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Increasing Investments in EV Ecosystem

The automotive industry of North America is rapidly shifting from fuel-based vehicles to electric vehicles. Increasing investments and incorporating innovative technologies by automotive OEMs in EVs and the development of advanced charging systems and batteries are driving this market growth in North America. Several industries worldwide invest heavily to make strides in the decarbonization of transport and equipment and improve air quality in cities through greater investments in passenger trucks, light commercial vehicles, and e-scooters. Increasing the adoption of electric vehicles to control pollution and carbon emissions, growing awareness about the use of electric vehicles to reduce emissions, and stringent government rules and emissions regulations towards vehicle emission are driving the demand for EVs and contributing to overall market growth. In May 2021, South Korean automotive company Hyundai Motor Group announced plans to invest USD 7.4 billion in the U.S. by 2025. The investments aim to produce electric vehicles, upgrade production facilities, and further invest in smart mobility solutions. Hyundai's investments plan comes as U.S. President Joe Biden's administration prioritized a strict regulation for electric vehicles, aiming to replace the 650,000 vehicles in federal fleets with the U.S.-made electric vehicles.

The Canadian government is investing in EVs and charging infrastructures to build a clean energy future to strengthen the economy, create job opportunities, and promote support to workers in the natural resource sectors. In June 2021, Natural Resources of Canada (NRC) funded USD 2.3 million to the British Columbia Hydro and Power Authority for installing 47 EV fast chargers across Columbia province to decarbonize the environment. This fund is initiated through NRC's Electric Vehicle and Alternative Fuel Infrastructure Deployment Initiative (AFIDI). Additionally, The Government of British Columbia is investing USD 1.2 million through the CleanBC Go Electric program towards the AFIDI initiative. These investments and initiatives are propelling the adoption of EVs in North America.

Key Findings in the North America Electric Vehicle Market Study:

During the forecast period, the light commercial vehicles segment is expected to grow at the highest CAGR.

Based on vehicle type, the North America electric vehicle market is segmented into passenger vehicles, light commercial vehicles, heavy commercial vehicles, two-wheelers, and e-scooters & bikes. In 2021, the light commercial vehicles segment is expected to grow at the highest CAGR during the forecast period. The high growth of this segment is mainly driven by the growing awareness regarding the role of electric vehicles in reducing emissions, an increase in demand for electric vehicles to reduce fleet emissions, and stringent government rules and regulations towards vehicle emissions. Electric LCVs are a key element of urban distribution and transport systems and offer a promising low-emission solution. They require low maintenance and have relatively lower operating costs, as there is no need to lubricate the engines nor the maintenance costs associated with gas engines. Electric LCVs contribute to reducing greenhouse gas emissions and reducing the dependence on fuels. These are the key factors driving the adoption of electric light commercial vehicles.

The fuel cell electric vehicles segment is expected to grow at the highest CAGR during the forecast period.

Based on propulsion type, the North America electric vehicle market is segmented into battery electric vehicles, hybrid vehicles, and fuel cell electric vehicles. In 2021, the fuel cell electric vehicles segment is expected to grow at the highest CAGR during the forecast period. The high growth of this segment is mainly driven by the increasing demand for vehicles with low carbon emissions, a growing emphasis on the adoption of FCEVs due to advantages such as fast refueling and increasing government initiatives and investments for advancing fuel cell technology. Several major players and governments across the region are trying to encourage the use of hydrogen fuel cells for vehicles through various policies, investments, and regulations.

The more than 250kW segment is expected to grow at the highest CAGR during the forecast period.

Based on power output, the North America electric vehicle market is segmented into less than 100kW, 100kW to 250kW, and more than 250kW. In 2021, the More than 250kW segment is expected to grow at the highest CAGR during the forecast period. The growth of this segment is attributed to the increasing adoption of electric buses and trucks for heavy applications, the implementation of numerous wireless EV charging pilot projects for heavy commercial vehicles, and the increasing adoption of electric mobility in emerging economies.

The commercial use segment is expected to grow at the highest CAGR during the forecast period.

Based on end use, the North America electric vehicle market is segmented into private use, commercial use, and industrial use. In 2021, the commercial use segment is expected to grow at the highest CAGR during the forecast period. The growth is mainly driven by the increase in fuel prices and stringent emission norms set by governments, the growing adoption of autonomous delivery vehicles, and the increasing adoption of electric buses and trucks. Electric commercial vehicles help lower greenhouse gas emissions, reduce dependence on fossil fuels, ensure smooth operation, and meet the latest emissions regulations. Electric buses are the most commonly used EVs for commercial applications. E-trucks are used for distribution and courier services. These vehicles have to cover long distances, as buses or trucks are required to travel a distance of 200 to 300 kilometers.

Canada to be the fastest-growing market in North America

Canada is expected to record the highest CAGR during the forecast period. The local government's policies majorly drive the Canadian EV market and incentives, increased driving range, and affordable vehicle prices due to increased spending of consumers on environment-friendly automobiles and developing infrastructure resulting in faster charging times. Canada’s mission to eliminate transportation emissions in the coming years has enabled governments to introduce numerous policies and incentive programs to increase EV adoption and reduce emissions. For instance, in May 2019, the Government of Canada launched the Incentives for Zero-Emission Vehicles (iZEV) Program to encourage EV adoption. On the purchase or lease of ZEV, the government provides iZEV Program incentives of up to USD 5,000. The authorities have set targets for enhancing the adoption of EVs in the country.

Key Players

The key players operating in the North America electric vehicle market are AB Volvo (Sweden), BMW Group (Germany), BYD Company Ltd. (China), Daimler AG (Germany), Faraday & Future Inc. (U.S.), Tata Motors Limited (India), Ford Motor Company (U.S.), General Motors Company (U.S.), Honda Motor Co., Ltd. (Japan), Hyundai Motor Company (South Korea), Zero Electric Vehicles Inc. (U.S.), Nissan Motor Co., Ltd. (Japan), Rivian LLC (U.S.), Tesla, Inc. (U.S.), and Volkswagen AG (Germany).

Scope of the Report:

North America Electric Vehicle Market, by Vehicle Type

  • Passenger Vehicle
  • Light Commercial Vehicles
  • Heavy Commercial Vehicles
  • Two-wheeler
  • e-Scooters & Bikes

North America Electric Vehicle Market, by Propulsion Type

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

North America Electric Vehicle Market, by Power Output

  • Less Than 100 KW
  • 100 KW to 250 KW
  • More Than 250 KW

North America Electric Vehicle Market, by End Use

  • Private Use
  • Commercial Use
    • Shared Mobility
    • Micromobility
    • Public Transport
  • Industrial Use

North America Electric Vehicle Market, by Geography

  • 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

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 Operators
                 5.3.3.    Increasing Investments in EV Ecosystem
       5.4.    Restraints
                 5.4.1.    Lack of Consumer Adoption of EVs
       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 Anxiety of Electric Vehicles
                 5.6.2.    Lack of Fast-Charging Infrastructure
       5.7.    Trend
                 5.7.1.    Increasing Investments in R&D for Smart Charging Systems
       5.8.    Value Chain Analysis

6.   North America Electric Vehicle Market, by Vehicle Type
       6.1.    Introduction
       6.2.    Passenger Vehicles
       6.3.    E-Scooters & Bikes
       6.4.    Heavy Commercial Vehicles
       6.5.    Light Commercial Vehicles
       6.6.    Two-Wheelers

7.   North America Electric Vehicle Market, by Propulsion Type
       7.1.    Introduction
       7.2.    Hybrid Electric Vehicles
                 7.2.1.    Pure Hybrid Electric Vehicles
                 7.2.2.    Plug-In Hybrid Electric Vehicles
       7.3.    Battery Electric Vehicles
       7.4.    Fuel Cell Electric Vehicles

8.   North America Electric Vehicle Market, by Power Output
       8.1.    Introduction
       8.2.    Less than 100kW
       8.3.    100kW to 250kW
       8.4.    More than 250kW

9.   North America Electric Vehicle Market, by End Use
       9.1.    Introduction
       9.2.    Private Use
       9.3.    Commercial Use
                 9.3.1.    Shared Mobility
                 9.3.2.    Micromobility
                 9.3.3.    Public Transport
       9.4.    Industrial Use

10.   North America Electric Vehicle Market, by Charging Standard
        10.1.    Introduction
        10.2.    Guobiao Standards (GB/T)
        10.3.    Charge De Move (CHADEMO)
        10.4.    Combined Charging System (CCS)
        10.5.    Tesla Supercharger
        10.6.    Type 1 (SAE J1772)
        10.7.    Type 2 (IEC 62196)

11.   North America Electric Vehicle Market, by Geography
        11.1.    Introduction
        11.2.    U.S.
        11.3.    Canada

12.    Competitive Landscape
        12.1.    Introduction
        12.2.    Key Growth Strategies
        12.3.    Market Share Analysis
                   12.3.1.    Tesla, Inc.
                   12.3.2.    Volkswagen AG
                   12.3.3.    BYD Company Ltd.

13.    Company Profiles
        13.1.    Tesla, Inc.                   
                   13.1.1.    Business Overview
                   13.1.2.    Product Portfolio
                   13.1.3.    Strategic Developments
        13.2.    BMW Group
                   13.2.1.    Business Overview
                   13.2.2.    Product Portfolio
                   13.2.3.    Strategic Developments
        13.3.    BYD Company Ltd.
                   13.3.1.    Business Overview
                   13.3.2.    Product Portfolio
                   13.3.3.    Strategic Developments
        13.4.    Volkswagen AG
                   13.4.1.    Business Overview
                   13.4.2.    Product Portfolio
                   13.4.3.    Strategic Developments
        13.5.    Hyundai Motor Company
                   13.5.1.    Business Overview
                   13.5.2.    Product Portfolio
                   13.5.3.    Strategic Developments
        13.6.    AB Volvo
                   13.6.1.    Business Overview
                   13.6.2.    Product Portfolio
                   13.6.3.    Strategic Developments
        13.7.    Daimler AG
                   13.7.1.    Business Overview
                   13.7.2.    Product Portfolio
                   13.7.3.    Strategic Developments
        13.8.    Ford Motor Company
                   13.8.1.    Business Overview
                   13.8.2.    Product Portfolio
                   13.8.3.    Strategic Developments
        13.9.    General Motors Company
                   13.9.1.    Business Overview
                   13.9.2.    Product Portfolio
                   13.9.3.    Strategic Developments
        13.10.    Honda Motor Co., Ltd.
                   13.10.1.    Business Overview
                   13.10.2.    Product Portfolio
                   13.10.3.    Strategic Developments
        13.11.    Nissan Motor Co., Ltd.
                   13.11.1.    Business Overview
                   13.11.2.    Product Portfolio
                   13.11.3.    Strategic Developments
        13.12.    Tata Motors Limited
                   13.12.1.    Business Overview                   
                   13.12.2.    Product Portfolio
                   13.12.3.    Strategic Developments
        13.13.    Faraday & Future Inc.
                   13.13.1.    Business Overview
                   13.13.2.    Product Portfolio
                   13.13.3.    Strategic Developments
        13.14.    Zero Electric Vehicles Inc.
                   13.14.1.    Business Overview
                   13.14.2.    Product Portfolio
                   13.14.3.    Strategic Developments
        13.15.    Rivian, LLC
                   13.15.1.    Business Overview
                   13.15.2.    Product Portfolio
                   13.15.3.    Strategic Developments

14.    Appendix
        14.1.    Questionnaire
        14.2.    Available Customization

List of Tables

Table 1     Market Size and CAGR (USD Million)
Table 2     North America Electric Vehicle Market Size, by Vehicle Type, 2019–2028 (USD Million)
Table 3     North America Electric Vehicle Market Volume, by Vehicle Type, 2019–2028 (Thousand Units)
Table 4     North American Electric Passenger Vehicles Market Size, by Country/Region, 2019–2028 (USD Million)
Table 5     North American Electric Light Commercial Vehicles Market Size, by Country/Region, 2019–2028 (USD Million)
Table 6     North American Electric E-Scooters & Bikes Market Size, by Country/Region, 2019–2028 (USD Million)
Table 7     North American Electric Heavy Commercial Vehicles Market Size, by Country/Region, 2019–2028 (USD Million)
Table 8     North American Electric Two-Wheelers Market Size, by Country/Region, 2019–2028 (USD Million)
Table 9     North America Electric Vehicle Market Size, by Propulsion Type, 2019–2028 (USD Million)
Table 10   North American Hybrid Vehicles Market Size, by Type, 2019–2028 (USD Million)
Table 11   Hybrid Vehicles Market Size, by Country, 2019–2028 (USD Million)
Table 12   North American Pure Hybrid electric vehicle market Size, by Country, 2019–2028 (USD Million)
Table 13   North American Plug-In Hybrid Electric Vehicle Market Size, by Country, 2019–2028 (USD Million)
Table 14   North American Battery Electric Vehicle Market Size, by Country/Region, 2019–2028 (USD Million)
Table 15   North American Fuel Cell Electric Vehicle Market Size, by Country, 2019–2028 (USD Million)
Table 16   North America Electric Vehicle Market Size, by Power Output, 2019–2028 (USD Million)
Table 17   North American Less Than 100kW Electric Vehicle Market Size, by Country, 2019–2028 (USD Million)
Table 18   North American 100kW to 250kW Electric Vehicle Market Size, by Country, 2019–2028 (USD Million)
Table 19   North American More Than 250kW Electric Vehicle Market Size, by Country, 2019–2028 (USD Million)
Table 20   North America Electric Vehicle Market Size, by End Use, 2019–2028 (USD Million)
Table 21   North America Electric Vehicle Market Size for Private Use, by Country, 2019–2028 (USD Million)
Table 22   North America Electric Vehicle Market Size for Commercial Use, by Type, 2019–2028 (USD Million)
Table 23   North America Electric Vehicle Market Size for Commercial Use, by Country, 2019–2028 (USD Million)
Table 24   North America Electric Vehicle Market Size for Shared Mobility, by Country, 2019–2028 (USD Million)
Table 25   North America Electric Vehicle Market Size for Micromobility, by Country, 2019–2028 (USD Million)
Table 26   North America Electric Vehicle Market Size for Public Transport, by Country/Region, 2019–2028 (USD Million)
Table 27   North America Electric Vehicle Market Size for Industrial Use, by Country/Region, 2019–2028 (USD Million)
Table 28   North America Electric Vehicle Market Size, by Country, 2019-2028 (USD Million)
Table 29   North America Electric Vehicle Market Volume, by Country, 2019–2028 (Thousand Units)
Table 30    U.S.: Electric Vehicle Market Size, by Vehicle Type, 2019–2028 (USD Million)
Table 31    U.S.: Electric Vehicle Market Volume, by Vehicle Type, 2019–2028 (Thousand Units)
Table 32    U.S.: Electric Vehicle Market Size, by Propulsion Type, 2019–2028 (USD Million)
Table 33    U.S.: Hybrid Vehicles Market Size, by Type, 2019–2028 (USD Million)
Table 34    U.S.: Electric Vehicle Market Size, by Power Output, 2019–2028 (USD Million)
Table 35    U.S.: Electric Vehicle Market Size, by End Use, 2019–2028 (USD Million)
Table 36    U.S.: Electric Vehicle Market Size for Commercial Use, by Type, 2019–2028 (USD Million)
Table 37    Canada: Electric Vehicle Market Size, by Vehicle Type, 2019–2028 (USD Million)
Table 38    Canada: Electric Vehicle Market Volume, by Vehicle Type, 2019–2028 (Thousand Units)
Table 39    Canada: Electric Vehicle Market Size, by Propulsion Type, 2019–2028 (USD Million)
Table 40    Canada: Hybrid Vehicles Market Size, by Type, 2019–2028 (USD Million)
Table 41    Canada: Electric Vehicle Market Size, by Power Output, 2019–2028 (USD Million)
Table 42    Canada: Electric Vehicle Market Size, by End Use, 2019–2028 (USD Million)
Table 43    Canada: Electric Vehicle Market Size for Commercial Use, by Type, 2019–2028 (USD Million)
Table 44    Electric Vehicle Market: Recent Developments, by Company, 2018–2021

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 America Electric Vehicle Market, by Vehicle Type, 2021 Vs. 2028, (USD Million)
Figure 9       North America Electric Vehicle Market, by Propulsion Type, 2021 Vs. 2028, (USD Million)
Figure 10   North America Electric Vehicle Market, by Power Output, 2021 Vs. 2028, (USD Million)
Figure 11   North America Electric Vehicle Market, by End Use, 2021 Vs. 2028, (USD Million)
Figure 12    Geographic Snapshot: North America Electric Vehicle Market, (Value Share & CAGR)
Figure 13    Geographic Snapshot: North America Electric Vehicle Market, (Volume Share & CAGR)
Figure 14    The Impact of Covid-19 on the North America Electric Vehicle Market
Figure 15    Global EV Battery Pack Prices, 2016-2020 (USD Per KWH)
Figure 16    Electric Vehicles Value Chain
Figure 17   North America Electric Vehicle Market Size, by Vehicle Type, 2021–2028 (USD Million)
Figure 18   North America Electric Vehicle Market Volume, by Vehicle Type, 2021–2028 (Thousand Units)
Figure 19   North America Electric Vehicle Market Size, by Propulsion Type, 2021–2028 (USD Million)
Figure 20   North America Electric Vehicle Market Size, by Power Output, 2021–2028 (USD Million)
Figure 21   North America Electric Vehicle Market Size, by End Use, 2021–2028 (USD Million)
Figure 22   North America Electric Vehicle Market Size, by Geography, 2021–2028 (USD Million)
Figure 23   North America Electric Vehicle Market Volume by Geography, 2021–2028 (Thousand Units)
Figure 24    Key Growth Strategies Adopted by Leading Players, 2018–2021
Figure 25    Market Share Analysis: North America Electric Vehicle Market, 2020
Figure 26    Tesla, Inc.: Financial Overview (2020)
Figure 27    BMW Group: Financial Overview (2020)
Figure 28    BYD Company Ltd.: Financial Overview (2020)
Figure 29    Volkswagen AG: Financial Overview (2020)
Figure 30    Hyundai Motor Company: Financial Overview (2020)
Figure 31    AB Volvo: Financial Overview (2020)
Figure 32    Daimler AG: Financial Overview (2020)
Figure 33    Ford Motor Company: Financial Overview (2020)
Figure 34    General Motors Company: Financial Overview (2019)
Figure 35    Honda Motor Co., Ltd.: Financial Overview (2020)
Figure 36    Nissan Motor Co., Ltd.: Financial Overview (2020)
Figure 37    Tata Motors Limited: 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

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 Operators
                 5.3.3.    Increasing Investments in EV Ecosystem
       5.4.    Restraints
                 5.4.1.    Lack of Consumer Adoption of EVs
       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 Anxiety of Electric Vehicles
                 5.6.2.    Lack of Fast-Charging Infrastructure
       5.7.    Trend
                 5.7.1.    Increasing Investments in R&D for Smart Charging Systems
       5.8.    Value Chain Analysis

6.   North America Electric Vehicle Market, by Vehicle Type
       6.1.    Introduction
       6.2.    Passenger Vehicles
       6.3.    E-Scooters & Bikes
       6.4.    Heavy Commercial Vehicles
       6.5.    Light Commercial Vehicles
       6.6.    Two-Wheelers

7.   North America Electric Vehicle Market, by Propulsion Type
       7.1.    Introduction
       7.2.    Hybrid Electric Vehicles
                 7.2.1.    Pure Hybrid Electric Vehicles
                 7.2.2.    Plug-In Hybrid Electric Vehicles
       7.3.    Battery Electric Vehicles
       7.4.    Fuel Cell Electric Vehicles

8.   North America Electric Vehicle Market, by Power Output
       8.1.    Introduction
       8.2.    Less than 100kW
       8.3.    100kW to 250kW
       8.4.    More than 250kW

9.   North America Electric Vehicle Market, by End Use
       9.1.    Introduction
       9.2.    Private Use
       9.3.    Commercial Use
                 9.3.1.    Shared Mobility
                 9.3.2.    Micromobility
                 9.3.3.    Public Transport
       9.4.    Industrial Use

10.   North America Electric Vehicle Market, by Charging Standard
        10.1.    Introduction
        10.2.    Guobiao Standards (GB/T)
        10.3.    Charge De Move (CHADEMO)
        10.4.    Combined Charging System (CCS)
        10.5.    Tesla Supercharger
        10.6.    Type 1 (SAE J1772)
        10.7.    Type 2 (IEC 62196)

11.   North America Electric Vehicle Market, by Geography
        11.1.    Introduction
        11.2.    U.S.
        11.3.    Canada

12.    Competitive Landscape
        12.1.    Introduction
        12.2.    Key Growth Strategies
        12.3.    Market Share Analysis
                   12.3.1.    Tesla, Inc.
                   12.3.2.    Volkswagen AG
                   12.3.3.    BYD Company Ltd.

13.    Company Profiles
        13.1.    Tesla, Inc.                   
                   13.1.1.    Business Overview
                   13.1.2.    Product Portfolio
                   13.1.3.    Strategic Developments
        13.2.    BMW Group
                   13.2.1.    Business Overview
                   13.2.2.    Product Portfolio
                   13.2.3.    Strategic Developments
        13.3.    BYD Company Ltd.
                   13.3.1.    Business Overview
                   13.3.2.    Product Portfolio
                   13.3.3.    Strategic Developments
        13.4.    Volkswagen AG
                   13.4.1.    Business Overview
                   13.4.2.    Product Portfolio
                   13.4.3.    Strategic Developments
        13.5.    Hyundai Motor Company
                   13.5.1.    Business Overview
                   13.5.2.    Product Portfolio
                   13.5.3.    Strategic Developments
        13.6.    AB Volvo
                   13.6.1.    Business Overview
                   13.6.2.    Product Portfolio
                   13.6.3.    Strategic Developments
        13.7.    Daimler AG
                   13.7.1.    Business Overview
                   13.7.2.    Product Portfolio
                   13.7.3.    Strategic Developments
        13.8.    Ford Motor Company
                   13.8.1.    Business Overview
                   13.8.2.    Product Portfolio
                   13.8.3.    Strategic Developments
        13.9.    General Motors Company
                   13.9.1.    Business Overview
                   13.9.2.    Product Portfolio
                   13.9.3.    Strategic Developments
        13.10.    Honda Motor Co., Ltd.
                   13.10.1.    Business Overview
                   13.10.2.    Product Portfolio
                   13.10.3.    Strategic Developments
        13.11.    Nissan Motor Co., Ltd.
                   13.11.1.    Business Overview
                   13.11.2.    Product Portfolio
                   13.11.3.    Strategic Developments
        13.12.    Tata Motors Limited
                   13.12.1.    Business Overview                   
                   13.12.2.    Product Portfolio
                   13.12.3.    Strategic Developments
        13.13.    Faraday & Future Inc.
                   13.13.1.    Business Overview
                   13.13.2.    Product Portfolio
                   13.13.3.    Strategic Developments
        13.14.    Zero Electric Vehicles Inc.
                   13.14.1.    Business Overview
                   13.14.2.    Product Portfolio
                   13.14.3.    Strategic Developments
        13.15.    Rivian, LLC
                   13.15.1.    Business Overview
                   13.15.2.    Product Portfolio
                   13.15.3.    Strategic Developments

14.    Appendix
        14.1.    Questionnaire
        14.2.    Available Customization

List of Tables

Table 1     Market Size and CAGR (USD Million)
Table 2     North America Electric Vehicle Market Size, by Vehicle Type, 2019–2028 (USD Million)
Table 3     North America Electric Vehicle Market Volume, by Vehicle Type, 2019–2028 (Thousand Units)
Table 4     North American Electric Passenger Vehicles Market Size, by Country/Region, 2019–2028 (USD Million)
Table 5     North American Electric Light Commercial Vehicles Market Size, by Country/Region, 2019–2028 (USD Million)
Table 6     North American Electric E-Scooters & Bikes Market Size, by Country/Region, 2019–2028 (USD Million)
Table 7     North American Electric Heavy Commercial Vehicles Market Size, by Country/Region, 2019–2028 (USD Million)
Table 8     North American Electric Two-Wheelers Market Size, by Country/Region, 2019–2028 (USD Million)
Table 9     North America Electric Vehicle Market Size, by Propulsion Type, 2019–2028 (USD Million)
Table 10   North American Hybrid Vehicles Market Size, by Type, 2019–2028 (USD Million)
Table 11   Hybrid Vehicles Market Size, by Country, 2019–2028 (USD Million)
Table 12   North American Pure Hybrid electric vehicle market Size, by Country, 2019–2028 (USD Million)
Table 13   North American Plug-In Hybrid Electric Vehicle Market Size, by Country, 2019–2028 (USD Million)
Table 14   North American Battery Electric Vehicle Market Size, by Country/Region, 2019–2028 (USD Million)
Table 15   North American Fuel Cell Electric Vehicle Market Size, by Country, 2019–2028 (USD Million)
Table 16   North America Electric Vehicle Market Size, by Power Output, 2019–2028 (USD Million)
Table 17   North American Less Than 100kW Electric Vehicle Market Size, by Country, 2019–2028 (USD Million)
Table 18   North American 100kW to 250kW Electric Vehicle Market Size, by Country, 2019–2028 (USD Million)
Table 19   North American More Than 250kW Electric Vehicle Market Size, by Country, 2019–2028 (USD Million)
Table 20   North America Electric Vehicle Market Size, by End Use, 2019–2028 (USD Million)
Table 21   North America Electric Vehicle Market Size for Private Use, by Country, 2019–2028 (USD Million)
Table 22   North America Electric Vehicle Market Size for Commercial Use, by Type, 2019–2028 (USD Million)
Table 23   North America Electric Vehicle Market Size for Commercial Use, by Country, 2019–2028 (USD Million)
Table 24   North America Electric Vehicle Market Size for Shared Mobility, by Country, 2019–2028 (USD Million)
Table 25   North America Electric Vehicle Market Size for Micromobility, by Country, 2019–2028 (USD Million)
Table 26   North America Electric Vehicle Market Size for Public Transport, by Country/Region, 2019–2028 (USD Million)
Table 27   North America Electric Vehicle Market Size for Industrial Use, by Country/Region, 2019–2028 (USD Million)
Table 28   North America Electric Vehicle Market Size, by Country, 2019-2028 (USD Million)
Table 29   North America Electric Vehicle Market Volume, by Country, 2019–2028 (Thousand Units)
Table 30    U.S.: Electric Vehicle Market Size, by Vehicle Type, 2019–2028 (USD Million)
Table 31    U.S.: Electric Vehicle Market Volume, by Vehicle Type, 2019–2028 (Thousand Units)
Table 32    U.S.: Electric Vehicle Market Size, by Propulsion Type, 2019–2028 (USD Million)
Table 33    U.S.: Hybrid Vehicles Market Size, by Type, 2019–2028 (USD Million)
Table 34    U.S.: Electric Vehicle Market Size, by Power Output, 2019–2028 (USD Million)
Table 35    U.S.: Electric Vehicle Market Size, by End Use, 2019–2028 (USD Million)
Table 36    U.S.: Electric Vehicle Market Size for Commercial Use, by Type, 2019–2028 (USD Million)
Table 37    Canada: Electric Vehicle Market Size, by Vehicle Type, 2019–2028 (USD Million)
Table 38    Canada: Electric Vehicle Market Volume, by Vehicle Type, 2019–2028 (Thousand Units)
Table 39    Canada: Electric Vehicle Market Size, by Propulsion Type, 2019–2028 (USD Million)
Table 40    Canada: Hybrid Vehicles Market Size, by Type, 2019–2028 (USD Million)
Table 41    Canada: Electric Vehicle Market Size, by Power Output, 2019–2028 (USD Million)
Table 42    Canada: Electric Vehicle Market Size, by End Use, 2019–2028 (USD Million)
Table 43    Canada: Electric Vehicle Market Size for Commercial Use, by Type, 2019–2028 (USD Million)
Table 44    Electric Vehicle Market: Recent Developments, by Company, 2018–2021

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 America Electric Vehicle Market, by Vehicle Type, 2021 Vs. 2028, (USD Million)
Figure 9       North America Electric Vehicle Market, by Propulsion Type, 2021 Vs. 2028, (USD Million)
Figure 10   North America Electric Vehicle Market, by Power Output, 2021 Vs. 2028, (USD Million)
Figure 11   North America Electric Vehicle Market, by End Use, 2021 Vs. 2028, (USD Million)
Figure 12    Geographic Snapshot: North America Electric Vehicle Market, (Value Share & CAGR)
Figure 13    Geographic Snapshot: North America Electric Vehicle Market, (Volume Share & CAGR)
Figure 14    The Impact of Covid-19 on the North America Electric Vehicle Market
Figure 15    Global EV Battery Pack Prices, 2016-2020 (USD Per KWH)
Figure 16    Electric Vehicles Value Chain
Figure 17   North America Electric Vehicle Market Size, by Vehicle Type, 2021–2028 (USD Million)
Figure 18   North America Electric Vehicle Market Volume, by Vehicle Type, 2021–2028 (Thousand Units)
Figure 19   North America Electric Vehicle Market Size, by Propulsion Type, 2021–2028 (USD Million)
Figure 20   North America Electric Vehicle Market Size, by Power Output, 2021–2028 (USD Million)
Figure 21   North America Electric Vehicle Market Size, by End Use, 2021–2028 (USD Million)
Figure 22   North America Electric Vehicle Market Size, by Geography, 2021–2028 (USD Million)
Figure 23   North America Electric Vehicle Market Volume by Geography, 2021–2028 (Thousand Units)
Figure 24    Key Growth Strategies Adopted by Leading Players, 2018–2021
Figure 25    Market Share Analysis: North America Electric Vehicle Market, 2020
Figure 26    Tesla, Inc.: Financial Overview (2020)
Figure 27    BMW Group: Financial Overview (2020)
Figure 28    BYD Company Ltd.: Financial Overview (2020)
Figure 29    Volkswagen AG: Financial Overview (2020)
Figure 30    Hyundai Motor Company: Financial Overview (2020)
Figure 31    AB Volvo: Financial Overview (2020)
Figure 32    Daimler AG: Financial Overview (2020)
Figure 33    Ford Motor Company: Financial Overview (2020)
Figure 34    General Motors Company: Financial Overview (2019)
Figure 35    Honda Motor Co., Ltd.: Financial Overview (2020)
Figure 36    Nissan Motor Co., Ltd.: Financial Overview (2020)
Figure 37    Tata Motors Limited: Financial Overview (2020)

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