The US battery electric vehicle market is projected to grow at a CAGR of more than 18.0% during the forecast period. The rising popularity of BEV, new EV model launches, and developing charging infrastructure are the key factors propelling the growth of the market. Tesla’s battery electric vehicle sales in the US are contributing around 40-50% in the total EV sales. The demand for the Tesla Model 3 in the US was more with around 160,000 units sold in 2019. Model 3 is the most selling BEV due to its comparatively low base price and offers high range distance.
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Apart from this, Tesla continues to dominate the US EV market with 290,000 electric vehicles sold in 2020. The plug-in vehicle sales were 300,000 units in the US in 2020. However, the competition from the manufactures of the electric vehicle is growing rapidly such as General Motors, which in turn, is continuing to add new electric vehicle models into the current range of vehicles offered. General Motors plans to sell the only zero-emission vehicle by 2035. California targets to add 5 million EVs by 2030. Thus, the US battery electric vehicle industry is growing due to the continued efforts of the market players.
Market Coverage
- Market number available for – 2018-2025
- Base year- 2018
- Forecast period- 2019-2025
- Segment Covered- By Vehicle Type and By Battery Type
- Region Covered- US
- Competitive Landscape- AB Volvo, Tesla, Inc., BYD Auto Co., Ltd., Audi AG, BMW AG, Daimler AG, Ford Motor Co., General Motors Co., Honda Motor Co., Ltd., Hyundai Motor Co., Kia Motors Corp., Nissan Motor Co., Proterra, Inc., Toyota Motor Corp., Volkswagen AG and so on.
Key Questions Addressed by the Report
- What is the market growth rate?
- Which segment dominates the market in the base year?
- Which segment will project the fastest growth in the market?
- How COVID-19 impacted the market?
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
US Battery Electric Vehicle Market Report Segment
By Vehicle Type
- Passenger Cars
- Commercial Vehicle
- Two-Wheeler
By Battery Type
- Li-Ion
- Others
A full report of US Battery Electric Vehicle Market is available at: https://www.omrglobal.com/industry-reports/us-battery-electric-vehicle-bev-market
