North American Electric Vehicle market is estimated to grow at a CAGR of more than 18.0% during the forecast period. The rising need to address future energy requirements is one of the major factors to drive the growth of the market. The EV market is emerging as an integral part of the automotive industry that provides a pathway to achieve a higher level of energy efficiency with a reduced level of pollutant emissions and other greenhouse gases. The growing environmental concerns along with cohesive government initiatives are some other aspects to fuel the market growth in the region. Lack of charging stations and availability of small range electric vehicles are the major restraint to the market growth in the region.
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The market is segmented on the basis of vehicle type, propulsion technology, battery type, and country. Based on vehicle type, the market is sub-segmented into commercial vehicles, passenger cars, and two-wheeler. Based on propulsion technology the market is sub-segmented into battery electric vehicle and, plug-in hybrid electric vehicle. Based on the propulsion type, plug-in hybrid vehicles are anticipated to have considerable market growth during the forecast period. Based on battery type, the market is sub-segmented into NiMH, Li-Ion, and others. Geographically, the market is segmented into the US and Canada.
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North American Electric Vehicle Market Segmentation
By Vehicle Type
- Commercial Vehicles
- Passenger Cars
- Two-Wheelers
By Propulsion Technology
- Battery Electric Vehicles
- Plug-in Hybrid Electric Vehicle
By Battery Type
- NiMH
- Li-Ion
- Others
Regional Analysis
- US
- Canada
Company Profiles
- Audi AG
- BMW AG
- Fiat Automobiles S.p.A.
- Ford Motor Co.
- General Motors Co.
- Groupe PSA
- Jaguar Land Rover
- Kia Motors Corp.
- Nissan Motor Co.
- Porsche AG
- Renault Group
- Tesla, Inc.
- Volkswagen AG
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