U.S. Automotive Market Size, Share, & Industry Analysis Report: By Vehicle Type (Passenger Car, Commercial Vehicle), By Propulsion Type (ICE Vehicle, Electric Vehicle)

Description

List of Tables

The U.S. automotive market size is expected to reach USD 1,621.16 million by 2034, according to a new study by Polaris Market Research. The report "U.S. Automotive Market Share, Size, Trends, Industry Analysis Report: By Vehicle Type (Passenger Car, Commercial Vehicle), By Propulsion Type (ICE Vehicle, Electric Vehicle); Market Forecast, 2025-2034" gives a detailed insight into current market dynamics and provides analysis on future market growth.

The U.S. automotive market refers to the dynamic ecosystem of vehicle manufacturing, innovation, and sales driven by evolving consumer preferences and technological advancements. The growing investments by automakers in high-demand vehicle segments, such as SUV, crossovers, and pickups, boosts growth opportunities. These segments continue to dominate due to their versatility, performance, and appeal across diverse consumer groups. As a result, manufacturers are redirecting resources toward designing and producing models that align with lifestyle-driven demand, reinforcing this shift in product strategy across the industry.

In the U.S., the rapid technological advancements of automotive manufacturing, including the integration of automation, artificial intelligence, and software-defined vehicle architectures, contribute to the market development. These innovations are transforming the way vehicles are designed, assembled, and updated, enabling faster production cycles, improved customization, and continuous over-the-air software updates. The US automotive market is evolving toward a more connected, efficient, and responsive manufacturing landscape that supports long-term industry competitiveness as digital technologies become central to vehicle development.

U.S. Automotive Market Report Highlights

In terms of vehicle type, the commercial vehicle segment held the largest revenue share in 2024, fueled by e-commerce and logistics sector expansion. Rising demand for light commercial vehicles (LCVs) in last-mile and intra-city delivery services significantly contributed to this growth.

Based on propulsion type, the electric vehicle segment is anticipated to register the fastest growth during the forecast period, driven by heightened environmental consciousness and government initiatives incentivizing clean energy adoption in transportation.

A few key players in the U.S. automotive market include BYD; General Motors; Honda Motor Company; Hyundai Motor Company; Mercedes-Benz; Nissan Motor Co., Ltd.; Stellantis N.V.; Ford Motor Company; Tesla; Toyota Motor Corporation; and Volkswagen.

Polaris Market Research has segmented the U.S. automotive market report on the basis of vehicle type and propulsion type:

By Vehicle Type Outlook (Revenue, USD Million, 2020-2034)

Passenger Car

Hatchback

Sedan

SUV

MUV

Commercial Vehicle

LCVs

Heavy Trucks

Buses & Coaches

By Propulsion Type Outlook (Revenue, USD Million, 2020-2034)

ICE Vehicle

Electric Vehicle

Product Code: PM5921

1. Introduction

1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
1.2. Stakeholders

2. Executive Summary

2.1. Market Highlights

3. Research Methodology

3.1. Overview
- 3.1.1. Data Mining
3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources

4. US Automotive Market Insights

4.1. US Automotive Market - Market Snapshot
4.2. US Automotive Market Dynamics
- 4.2.1. Drivers and Opportunities
  - 4.2.1.1. Rising Demand for Electric Vehicles (EVs)
  - 4.2.1.2. Improving Vehicle Affordability and Expanding Credit Availability
- 4.2.2. Restraints and Challenges
  - 4.2.2.1. Semiconductor Shortage
4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
4.4. PESTEL Analysis
4.5. US Automotive Market Trends
4.6. Value Chain Analysis

5. US Automotive Market, by Vehicle Type

5.1. Key Findings
5.2. Introduction
- 5.2.1. US Automotive Market, by Vehicle Type, 2020-2034 (USD Million)
5.3. Passenger Car
- 5.3.1. US Automotive Market, by Passenger Car, by Region, 2020-2034 (USD Million)
- 5.3.2. Hatchback
  - 5.3.2.1. US Automotive Market, by Hatchback, by Region, 2020-2034 (USD Million)
- 5.3.3. Sedan
  - 5.3.3.1. US Automotive Market, by Sedan, by Region, 2020-2034 (USD Million)
- 5.3.4. SUV
  - 5.3.4.1. US Automotive Market, by SUV, by Region, 2020-2034 (USD Million)
- 5.3.5. MUV
  - 5.3.5.1. US Automotive Market, by MUV, by Region, 2020-2034 (USD Million)
5.4. Commercial Vehicle
- 5.4.1. US Automotive Market, by Commercial Vehicle, by Region, 2020-2034 (USD Million)
- 5.4.2. LCVs
  - 5.4.2.1. US Automotive Market, by LCVs, by Region, 2020-2034 (USD Million)
- 5.4.3. Heavy Trucks
  - 5.4.3.1. US Automotive Market, by Heavy Trucks, by Region, 2020-2034 (USD Million)
- 5.4.4. Buses & Coaches
  - 5.4.4.1. US Automotive Market, by Buses and Coaches, by Region, 2020-2034 (USD Million)

6. US Automotive Market, by Propulsion Type

6.1. Key Findings
6.2. Introduction
- 6.2.1. US Automotive Market, by Propulsion Type, 2020-2034 (USD Million)
6.3. ICE Vehicle
- 6.3.1. US Automotive Market, by ICE Vehicle, by Region, 2020-2034 (USD Million)
6.4. Electric Vehicle
- 6.4.1. US Automotive Market, by Electric Vehicle, by Region, 2020-2034 (USD Million)

7. Competitive Landscape

7.1. Expansion and Acquisition Analysis
- 7.1.1. Expansion
- 7.1.2. Acquisitions
7.2. Partnerships/Collaborations/Agreements/Exhibitions

8. Company Profiles

8.1. BYD Company Ltd.
- 8.1.1. Company Overview
- 8.1.2. Financial Performance
- 8.1.3. Product Benchmarking
- 8.1.4. Recent Development
8.2. General Motors
- 8.2.1. Company Overview
- 8.2.2. Financial Performance
- 8.2.3. Product Benchmarking
- 8.2.4. Recent Development
8.3. Honda Motor Co., Ltd.
- 8.3.1. Company Overview
- 8.3.2. Financial Performance
- 8.3.3. Product Benchmarking
- 8.3.4. Recent Development
8.4. Hyundai Motor Company
- 8.4.1. Company Overview
- 8.4.2. Financial Performance
- 8.4.3. Product Benchmarking
- 8.4.4. Recent Development
8.5. Mercedes-Benz AG
- 8.5.1. Company Overview
- 8.5.2. Financial Performance
- 8.5.3. Product Benchmarking
- 8.5.4. Recent Development
8.6. Nissan Motor Co., Ltd.
- 8.6.1. Company Overview
- 8.6.2. Financial Performance
- 8.6.3. Product Benchmarking
- 8.6.4. Recent Development
8.7. SAIC Motor Corporation Limited
- 8.7.1. Company Overview
- 8.7.2. Financial Performance
- 8.7.3. Product Benchmarking
- 8.7.4. Recent Development
8.8. Stellantis Europe S.p.A.
- 8.8.1. Company Overview
- 8.8.2. Financial Performance
- 8.8.3. Product Benchmarking
- 8.8.4. Recent Development
8.9. Ford Motor Company
- 8.9.1. Company Overview
- 8.9.2. Financial Performance
- 8.9.3. Product Benchmarking
- 8.9.4. Recent Development
8.10. Tesla
- 8.10.1. Company Overview
- 8.10.2. Financial Performance
- 8.10.3. Product Benchmarking
- 8.10.4. Recent Development
8.11. TOYOTA MOTOR CORPORATION.
- 8.11.1. Company Overview
- 8.11.2. Financial Performance
- 8.11.3. Product Benchmarking
- 8.11.4. Recent Development
8.12. Volkswagen Group
- 8.12.1. Company Overview
- 8.12.2. Financial Performance
- 8.12.3. Product Benchmarking
- 8.12.4. Recent Development