North America was the highest shareholder in the year 2013, marginally ahead of Europe and Asia, dropped to much low share of less than 15% pushing the other two regions ahead in the year 2019. According to the report titled “North America Electric Vehicle Market Outlook, 2025” published by Bonafide Research, even though growing to a market of over 1000 Thousand Units, the North American market is to decline more than 0.70% further in terms of both.
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The e-models for commercial vehicles are more eco-friendly, quieter, and more efficient than yet cannot travel as far on a single charge like the ones with a combustion engine. Larger batteries would be needed to deliver a greater range. Recharging buses and trucks also take longer than refueling them, and the charging infrastructure is not yet ideal. This has made the passenger vehicle hold to a marginally unstable share with a clear dominance with an anticipated CAGR of 28.37% by volume. The yearly consumption of the vehicle differed, thus portraying an unsteady market share. However, the share of the BEV remained on a high-end throughout the period, with the PHEV segment expected to cross a value of over USD 20 Billion by the end of the forecasted period.
The USA leads the market at a value share of over 82.64% in the year 2019. A new regulation by the US government requires electric motors to make an audible noise when traveling up to 19 mph. By September 2019, manufacturers had to equip all new hybrid and electric vehicles with sounds that meet the new safety standard. Mexico’s climate legislation targets emissions cuts of 50% by 2050 (from 2000 levels) and 35% renewable energy by 2024, which is to support the market over the forecast period, accounting for a value of USD 0.13 Billion by 2025.
Developed countries in the region including the USA and Canada have invested a fortune in the highly advanced charging infrastructure, directly resulting in the increasing demand for EVs. Currently, the USA has the highest charging plug-ins at a count of 77358, followed by Canada and Mexico with 11657 plug-ins. The demand for long-range electric vehicles has been increasing in the North American region. This is because of the unavailability of charging stations for passengers traveling on highways in remote areas. Manufacturers have focused on improving the range of their products by increasing battery capacities.
Tesla pioneered the concept of EV, are developing cost effective, but high-performance vehicles to leverage the adoption in the region. The company hopes that the initiative will spur consumer acceptance and create a network of charging stations and service centers. The high costs of ownership, coupled with a lack of adequate charging infrastructure in the region, are the major challenges that the market can face in the forecast period.
Companies Mentioned:
Tesla, BMW Group, Nissan Motor Corporation, Toyota Motor Corporation, Volkswagen AG, General Motors, Daimler AG, Energica Motor Company BYD Company Motors, and Ford Motor Company, Aiways, Citroen, Lightening GT, Micro Mobility, Zacua, Nio, MW Motors, Peugeot, PoleStar Venturi, Blue Bird Corporation, Rivian, Bollinger Motors, Workhorse Group, Nikola Motor Company
CONSIDERED IN THE REPORT
• Geography: North America
• Base year: 2019
• Historical year: 2014
• Forecasted year: 2025
REGIONS COVERED:
• North America
• USA
• Canada
• Mexico
ASPECTS COVERED IN THE REPORT
• Market Size By Value for the time period (2014-2025F)
• Market Size By Volume for the time period (2014-2025F)
• Market Share by Vehicle Type (Passenger & Light Commercial)
• Market Share by Propulsion Type (BEV & PHEV)
• Market Share by Sales Channel (2020 & 2026F)
• Market Share by Charging Type ( Normal & Fast)
• Market Share by Region
• Market Share by Country
Key Points Covered in this report:
• Market Evolution through value and volume CAGRs at different verticals
• Detailed discussion on the market dynamics that influence the market and the possible opportunities
• In sights on the market leader’s performance including market shares, strategies, products, financial positions, etc
This report would help you answer the following questions:
1. What is the market size and forecast of the North America Electric Vehicle Market?
2. What are the inhibiting factors and impact of COVID-19 shaping the North America Electric Vehicle Market during the forecast period?
3. Which region outstands in the North America Electric Vehicle Market?
4. Which are the segments to invest in over the forecast period in the North America Electric Vehicle Market?
5. What is the competitive strategic window for opportunities in the North America Electric Vehicle Market?
6. What are the technology trends and regulatory frameworks in the North America Electric Vehicle Market?
7. What are the major company in the North America Electric Vehicle Market?
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TABLE OF CONTENTS
1 Executive Summary
2 Report Methodology
3 Global Electric Vehicle Market Outlook
3.1 Market Size
3.1.1 By Value
3.1.2 By Volume
3.2 Market Share
3.2.1 By Vehicle Type
3.2.2 By Propulsion Type (BEV & PHEV)
3.2.3 By Charging Type
3.2.4 By Vehicle Class
3.2.5 By Region
3.2.6 By Country
3.2.7 By Company
3.3 Global BEV Market Outlook
3.4 Global PHEV Market Outlook
4 North America Electric Vehicle Market Outlook
4.1 Market Size
4.1.1 By Value
4.1.2 By Volume
4.2 Market Share
4.2.1 By Vehicle Type
4.2.2 By Propulsion Type (BEV & PHEV)
4.2.3 By Charging Type
4.2.4 By Country
4.3 North America BEV & PHEV Market Outlook
4.3.1 By Value
4.3.2 By Volume
4.4 USA Electric Vehicle Market Outlook
4.4.1 Market Size
4.4.2 Market Share
4.5 Canada Electric Vehicle Market Outlook
4.5.1 Market Size
4.5.2 Market Share
4.6 Mexico Electric Vehicle Market Outlook
4.6.1 Market Size
4.6.2 Market Share
5 Market Dynamics
5.1 Key Drivers
5.2 Key Challenges
6 Market Trends and Developments
6.1 Electrification in Heavy Commercial Vehicle Segment
6.2 E-Car Rental Programs
6.3 Income Generation across the Life Cycle of a vehicle
6.4 Omnichannel Approach
7 Competitive Landscape
7.1 Porter’s Five Forces
8 Company Profile
8.1 Beijing Automobiles Industry Holding Corporative limited
8.2 Blue Bird Corporation
8.3 BMW Group
8.4 BYD Company Motors
8.5 Daimler AG
8.6 Ford Motors
8.7 General Motors
8.8 Hyundai
8.9 Lightening GT
8.10 Nissan Motor
8.11 Proterra
8.12 Tesla
8.13 Toyota Motor Corporation
8.14 Volkswagen
8.15 Workhorse Group
8.16 Zacua
8.17 Zhejiang Geely
9 Strategic Recommendations
10 Disclaimer
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