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United States Electric Vehicle Market Anticipated to Reach USD 43.10 Billion by 2024
United States Electric Vehicle Market Report
According to Goldstein Research, United States electric vehicle market is expected to reach USD 43.10 billion by 2024, growing at a CAGR of 40.7% over the forecast period 2016-2024. The growth factors such as strong policy support from state and local governments in the United States which is providing various monetary and non-monetary benefits to the electric vehicle customers in order to support mass adoption of EVs is majorly driving the growth of electric vehicles market of United States.
United States electric vehicle market segmentation has been done on the basis of technology type, vehicle type and geography. Based on vehicle type, passenger cars dominated the United States electric vehicle market with 60% share in 2016 owing to rapid adoption and declining prices of faster and efficient electric vehicles. United States electric vehicle market has witnessed average growth in sales by 32.0% annually during the 2012-16 period and 40% over the year ending June 2017, the EVs sales are set to grow even in coming years.
On the basis of our in-depth analysis, United States Electric Vehicle Market can be segmented as follows:
By Technology Type
- Hybrid Electric Vehicles
- Battery Electric Vehicles
- Plug-in Hybrid Vehicles
By Vehicle Type
- Passenger Cars
- Commercial Vehicles
- Two Wheelers
“United States Electric Vehicle Market Outlook 2024” contains detailed overview of the United States electric vehicle market. On the basis of our in-depth analysis, market can be segmented in terms of market segmentation by technology type and vehicle type.
Further, for the in-depth analysis, United States Electric Vehicle Market Report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis. This market analysis report also includes competitive outlook of some of the major players profiling of companies such as Toyota Motor Corporation, General Motors Company, Tesla Inc., Nissan Motor Company, Ford Motor Company.
Overall, the report represents the United States electric vehicle market trends along with market forecast that will help industry consultants, technology providers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.
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