Picture
SEARCH
What are you looking for?
Need help finding what you are looking for? Contact Us
Compare

PUBLISHER: TechSci Research | PRODUCT CODE: 1796869

Cover Image

PUBLISHER: TechSci Research | PRODUCT CODE: 1796869

North America Electric Vehicle Market By Vehicle, By Propulsion, By Range, By Country, Competition, Opportunities & Forecast, 2020-2030F

PUBLISHED:
PAGES: 130 Pages
DELIVERY TIME: 2-3 business days
SELECT AN OPTION
Unprintable PDF (Single User License)
USD 4000
PDF and Excel (Multi-User License)
USD 5000
PDF and Excel (Custom Research License)
USD 7500

Add to Cart

We offer 8 hour analyst time for an additional research. Please contact us for the details.

North America Electric Vehicle Market was valued at USD 32.64 billion in 2024 and is expected to reach USD 58.62 billion by 2030 with a CAGR of 10.25% during the forecast period.

Market Overview
Forecast Period2026-2030
Market Size 2024USD 32.64 Billion
Market Size 2030USD 58.62 Billion
CAGR 2025-203010.25%
Fastest Growing SegmentPHEV
Largest MarketUnited States

Environmental mandates and technology advances sustain momentum for electric mobility across North America. The U.S. Department of Energy highlights rapid expansion in public charging infrastructure, counting over 173,000 public ports by 2024. Rising consumer awareness and policy-driven emission targets compel shifts toward electrified fleets. Falling battery pack costs, tracked by the U.S. Energy Information Administration at an average of USD 132 per kWh in 2024, expand access to EV ownership across segments. Meanwhile, battery mineral supply constraints from soaring global lithium demand reported by the International Energy Agency pressure automakers to secure resilient supply chains.

Automotive manufacturers face pressing needs to balance affordability with innovation. The Bureau of Economic Analysis documented U.S. EV sales topping 1.6 million units in 2024, reflecting steady mainstream adoption. However, as charging networks grow, vehicle-grid integration emerges as a crucial trend for grid stability. Environmental and Climate Change Canada cites transportation as a primary emissions source, spurring policies aimed at net-zero targets and intensifying investments in alternative powertrains. The shift also impacts allied industries like power generation and battery recycling, unlocking avenues for cross-sector collaborations.

Market Drivers

Government Regulations Promoting Clean Mobility

Policies like the U.S. Zero-Emission Vehicle standards and Canada's 2035 net-zero targets accelerate EV deployment by setting firm deadlines for phasing out combustion engines. Incentives lower upfront costs, driving consumers and fleets toward electric options. According to Environment and Climate Change Canada, transportation generates significant emissions, making electrification a strategic priority. Legislated goals attract private investments and create certainty in planning. Tax credits, rebates, and infrastructure grants reduce barriers to ownership, cultivating steady market growth. Regulations also encourage manufacturers to innovate rapidly, further enhancing EV performance and affordability, which collectively fosters a competitive landscape.

Key Market Challenges

Critical Mineral Supply Constraints

The International Energy Agency reports a 31% jump in global lithium demand in 2023, fueling concerns about supply chain stability for key battery minerals. Limited production capacity, geopolitical risks, and environmental considerations complicate resource access. Processing bottlenecks heighten cost volatility, impacting vehicle affordability. Automakers seek diversification strategies, but alternative sourcing or recycling solutions remain underdeveloped. Supply insecurities slow production schedules, hinder scaling efforts, and elevate investment risks. Without reliable mineral flows, ambitious electrification timelines face delays. Balancing sustainability with mining expansion adds complexity, posing a persistent challenge for the EV ecosystem.

Key Market Trends

Battery Technology Innovations

Development of solid-state batteries promises greater energy density, faster charging, and improved safety. The U.S. Department of Energy funds research into advanced chemistries to reduce reliance on scarce materials. New designs aim to minimize thermal risks and extend battery life cycles. As lab breakthroughs transition toward commercial viability, manufacturers prepare for significant cost and performance gains. Innovations enable longer driving ranges and lighter vehicles, crucial for mainstream adoption. These advances also unlock applications in heavier vehicles and commercial fleets. Battery technology remains a pivotal frontier shaping future EV competitiveness and sustainability.

Key Market Players

  • AB Volvo
  • BMW Group
  • BYD Company Ltd.
  • Daimler AG
  • Ford Motor Company
  • General Motors Company
  • Honda Motor Co., Ltd.
  • Hyundai Motor Company
  • Tesla, Inc.
  • Volkswagen AG

Report Scope:

In this report, the North America Electric Vehicle Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

North America Electric Vehicle Market, By Vehicle:

  • Two-Wheeler
  • Passenger Car
  • Light Commercial Vehicle
  • Medium & Heavy Commercial Vehicle
  • OTR

North America Electric Vehicle Market, By Propulsion:

  • Battery Electric Vehicle (BEV)
  • Fuel Cell Electric Vehicle (FCEV)
  • Plug-in Hybrid Electric Vehicle (PHEV)

North America Electric Vehicle Market, By Range:

  • 0-50 Miles
  • 51-150 Miles
  • 151-200 Miles
  • 201-400 Miles
  • Above 400 Miles

North America Electric Vehicle Market, By Country:

  • United States
  • Canada
  • Mexico

Competitive Landscape

Company Profiles: Detailed analysis of the major companies presents in the North America Electric Vehicle Market.

Available Customizations:

North America Electric Vehicle Market report with the given market data, TechSci Research, offers customizations according to the company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).
Product Code: 14258

Table of Contents

1. Introduction

  • 1.1. Product Overview
  • 1.2. Key Highlights of the Report
  • 1.3. Market Coverage
  • 1.4. Market Segments Covered
  • 1.5. Research Tenure Considered

2. Research Methodology

  • 2.1. Methodology Landscape
  • 2.2. Objective of the Study
  • 2.3. Baseline Methodology
  • 2.4. Formulation of the Scope
  • 2.5. Assumptions and Limitations
  • 2.6. Sources of Research
  • 2.7. Approach for the Market Study
  • 2.8. Methodology Followed for Calculation of Market Size & Market Shares
  • 2.9. Forecasting Methodology

3. Executive Summary

  • 3.1. Overview of the Market
  • 3.2. Overview of Key Market Segmentations
  • 3.3. Overview of Key Regions
  • 3.4. Overview of Market Drivers, Challenges, and Trends

4. North America Electric Vehicle Market Outlook

  • 4.1. Market Size & Forecast
    • 4.1.1. By Value
  • 4.2. Market Share & Forecast
    • 4.2.1. By Vehicle Market Share Analysis (Two Wheelers, Passenger Cars (PC) Light Commercial Vehicle (LCV), Medium & Heavy Commercial Vehicle (M&HCV) and OTR)
    • 4.2.2. By Propulsion Market Share Analysis (Battery Electric Vehicle (BEV), Plug-In Hybrid Electric Vehicle (PHEV), Fuel Cell Electric Vehicle (FCEV))
    • 4.2.3. By Range Market Share Analysis (0-50 Miles, 51-150 Miles and 151-200 Miles, 201-400 Miles, and Above 400 Miles)
    • 4.2.4. By Country Market Share Analysis
    • 4.2.5. By Top 5 Companies Market Share Analysis, Others (2024)
  • 4.3. North America Electric Vehicle Market Mapping & Opportunity Assessment

5. United States Electric Vehicle Market Outlook

  • 5.1. Market Size & Forecast
    • 5.1.1. By Value
  • 5.2. Market Share & Forecast
    • 5.2.1. By Vehicle Market Share Analysis
    • 5.2.2. By Propulsion Market Share Analysis
    • 5.2.3. By Range Market Share Analysis

6. Mexico Electric Vehicle Market Outlook

  • 6.1. Market Size & Forecast
    • 6.1.1. By Value
  • 6.2. Market Share & Forecast
    • 6.2.1. By Vehicle Market Share Analysis
    • 6.2.2. By Propulsion Market Share Analysis
    • 6.2.3. By Range Market Share Analysis

7. Canada Electric Vehicle Market Outlook

  • 7.1. Market Size & Forecast
    • 7.1.1. By Value
  • 7.2. Market Share & Forecast
    • 7.2.1. By Vehicle Market Share Analysis
    • 7.2.2. By Propulsion Market Share Analysis
    • 7.2.3. By Range Market Share Analysis

8. Market Dynamics

  • 8.1. Drivers
  • 8.2. Challenges

9. Market Trends & Developments

10. Porters Five Forces Analysis

11. Disruptions: Conflicts, Pandemics and Trade Barriers

12. Competitive Landscape

  • 12.1. Company Profiles
    • 12.1.1. AB Volvo
      • 12.1.1.1. Business Overview
      • 12.1.1.2. Company Snapshot
      • 12.1.1.3. Products & Services
      • 12.1.1.4. Financials (As Per Availability)
      • 12.1.1.5. Key Market Focus & Geographical Presence
      • 12.1.1.6. Recent Developments
      • 12.1.1.7. Key Management Personnel
    • 12.1.2. BMW Group
    • 12.1.3. BYD Company Ltd.
    • 12.1.4. Daimler AG
    • 12.1.5. Ford Motor Company
    • 12.1.6. General Motors Company
    • 12.1.7. Honda Motor Co., Ltd.
    • 12.1.8. Hyundai Motor Company
    • 12.1.9. Tesla, Inc.
    • 12.1.10. Volkswagen AG

13. Strategic Recommendations

14. About Us & Disclaimer

Have a question?
Picture

Jeroen Van Heghe

Manager - EMEA

+32-2-535-7543

Picture

Christine Sirois

Manager - Americas

+1-860-674-8796

Questions? Please give us a call or visit the contact form.
Hi, how can we help?
Contact us!