Electric Vehicle Market, By Component (Battery Cells & Packs, On-Board Charger, Infotainment System, Others), Propulsion Type {(Plug-In Hybrid Electric Vehicles (PHEVS), Battery Electric Vehicles (BEVS), Hybrid Electric Vehicles (HEVS), and Fuel Cell Electric Vehicles (FCEVS)}, Charging Station Type (Normal Charging and Super Charging), Class (Mid-Priced and Luxury), Power Train (Parallel Hybrid, Series Hybrid, Combined Hybrid), Vehicle Type (Passenger Cars, Two Wheelers, Commercial Vehicles), Country (U.S., Canada, Mexico), Market Trends and Forecast to 2027 Electric vehicle market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing at a CAGR of 22.8% in the forecast period of 2020 to 2027and expected to reach USD 202,861.92 million by 2027 from USD 39,731.62 million in 2019. Increasing concern about pollution and initiative from the governments to promote use of electric vehicle are the factors for the market growth.

Electric vehicle are run by utilizing clean electric energy. Instead of an internal combustion engine, electric vehicles were powered using an electric motor. The internal combustion engine is used to burn fossil products. Initiatives from governments to promote electric vehicles are expected to enhance the market growth. For instance, under The American Recovery and Reinvestment Act of 2009 consumer can get tax credit of between USD 2,500 and USD 7,500 per electric vehicle purchase. Rising number of EV model offerings from automakers, technological advancements will drive the market and create new opportunities for the growth. For instance, such as General Motors has launched electric bicycle in 2019, Tesla introduced its new advanced autopilot feature for their electric vehicles.

North America Electric Vehicle Market landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, company strengths and weaknesses, product launch, clinical trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to North America electric vehicle market. This electric vehicle market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.

North America Electric Vehicle Market Scope and Market Size:
Electric vehicle market is segmented on the basis component, propulsion type, charging station type, class, power train, and vehicle type. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.Based on component, the market is segmented into battery cells & packs, on-board charger, infotainment system and others. In the current scenario the lithium ion batteries are highly used in the EV as it offers the large storage capacity with fastest charging technology. Lithium-ion battery is providing prominent solution for EVs, such as increased capacity, fast charging are fuelling the adoption in the U.S. market. To meet this emerging demand of Lithium-ion battery market players are investing huge capital to increase production capacity. For instance, October, 2019, KORE Power has announced new manufacturing plant to produce Lithium-ion battery for the U.S. market. Based on propulsion type, the market is segmented into plug-in hybrid electric vehicles (PHEVs), battery electric vehicles (BEVS), hybrid electric vehicles (HEVs) and fuel cell electric vehicles (FCEVs). The advantages of battery electric vehicles over other electric vehicles such as low operational costs, zero carbon emissions, light weight, attractive vehicle models has resulted in BEV as the dominating electric vehicle segment. For instance, in year 2018, according to the JATO Dynamics Limited the sales of battery vehicle is 209,000 units, and witnessed stronger growth in 2019 as for half year it almost reached to 116,200 units. Such increased sale of battery electric vehicle is fuelling the growth of battery electric vehicle segment.
The major players covered in the report are Ford Motor Company, General Motors, Tesla, Hyundai Motor Company, AB Volvo, Honda Motor Co., Ltd., among other players domestic and global. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.

Electric Vehicle Market Country Level Analysis:
Electric vehicle market is analysed and market size information is provided by country by vehicle type, power train and charging station type as referenced above. The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data. The countries covered in the electric vehicle market report are U.S., Canada and Mexico in North America. North America electric vehicle market is growing due to increasing concern about pollution free environment is expected to grow at the significant growth rate in the forecast period of 2020 to 2027 because of increasing aging population. For instance, under Clean Air Act (Section 177) government of California and other nine countries such as New York, Oregon, Connecticut, Maine, New Jersey, Maryland, Massachusetts, Rhode, Island, and Vermont has adopted Zero-Emission Mandate. The target is 15 percent of zero-emission vehicles (ZEVs) sales by 2025.

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The key questions answered in this report:
What will be the Market Size and Growth Rate in the forecast year?
What is the Key Factors driving Laser Capture North America Electric Vehicle Market?
What are the Risks and Challenges in front of the market?
Who are the Key Vendors in North America Electric Vehicle Market?
What are the Trending Factors influencing the market shares?
What is the Key Outcomes of Porter’s five forces model

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