U.S. electric mobility Market: Segmented: By Product Type (Electric Scooter, Electric Bicycle, Electric Skateboard, Electric Motorcycle, Electric Car, Electric Wheelchair), By Battery Type (sealed lead acid, Li-ion, and NiMH), And Region - Analysis Of Market Size, Share & Trends For 2019-2020 And Forecasts To 2031
[ 170 + Pages Research Report ] U.S. electric mobility Market to surpass USD 720 billion by 2031 from USD 29 billion in 2021 at a CAGR of 20% in the coming years, i.e., 2021-31.
The electric mobility industry comprises all types of EVs, including battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs), and hybrid electric vehicles (HEVs). Electromobility is the application of electric cars, as well as e-bikes, electric motorbikes, e-buses, and e-trucks. The common factor of all of them is that they are completely or partly pushed electrically, have a means of storing energy onboard, and attain their energy mainly from the power grid.
U.S. electric mobility market is expected to project a notable CAGR of 20% in 2031.
Over the past few years, the rising carbon emission from traditional fuel-based vehicles has been a critical concern for government administrations. The sustainability move toward smart cities is one of the key factors responsible for the implementation of eco-friendly and cost-effective transportation. Since electric scooters run on batteries, there are no carbon or gaseous emissions from these vehicles. This method of transportation is gaining penetration amongst environmentally conscious commuters.
Electric Car segment to grow with the highest CAGR during 2021-31
U.S. electric mobility market is classified on the basis of Type into Electric Scooter, Electric Bicycle, Electric Skateboard, Electric Motorcycle, Electric Car, Electric Wheelchair. The electric car segment dominated the market and reported for an overall market share of XX.X%. The segment growth can be attributed to the growing adoption rate of electric cars compared to skateboards, bicycles, and wheelchairs.
Li-ion segment to grow with the highest CAGR during 2021-31
Based on Battery Type, U.S. electric mobility market fragmented into sealed lead acid, Li-ion, and NiMH. The Li-Ion battery segment dominated the market in 2020 and accounted for 55.7% of the market share. The rising awareness of adopting eco-friendly batteries and the environmental and performance benefits of Li-Ion batteries over NiMH and sealed lead-acid batteries have fueled the demand for Li-Ion batteries.
Rising concern for global warming
Rising alarm for global warming and pollution have fortified the governments of several regions to promote the large-scale implementation of electric vehicles to meet the climate change, local air quality, the dependence on oil to boost a vehicle, and the growth of the automotive industry. In support of this, governments of several economies are offering subsidies and tax benefits along with huge investments toward the development of electric vehicle charging infrastructure. For instance, the government of India recently announced to provide tax benefits on the purchase of electric vehicles to fuel the adoption of e-vehicles across the country.
The application of renewable energy
Electric vehicles can be charged using a solar panel or at an electric charging station. The application of renewable energy to power electric vehicle charging stations is one of the prime opportunities for automakers in the electric automobile charging market. Due to the easy installation and reduced prices of solar panels, solar-powered charging stations have become a viable choice for commercial buildings and homeowners to choose electric vehicles.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
U.S. electric mobility Segments:
|Market size value in 2021||USD 29 billion|
|Revenue forecast in 2031||USD 720 billion|
|Growth Rate||CAGR of 20% from 2021 to 2031|
|Base year for estimation||2020|
|Quantitative units||Revenue in USD million and CAGR from 2021 to 2030|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Segments covered||Product Type, Battery Type, and Region|
|Key companies profiled||Accell Group; Airwheel Holding Limited; Derby Cycle; HARLEY-DAVIDSON; Honda Motor Co. Ltd.; Invacare Corporation; Lohia Auto Industries; Ninebot Ltd. and Other Prominent Players|
The U.S. electric mobility Market size was estimated at USD 29 billion in 2021 and is expected to reach USD 720 billion by 2031.
Key players: Accell Group; Airwheel Holding Limited; Derby Cycle; HARLEY-DAVIDSON; Honda Motor Co. Ltd.; Invacare Corporation; Lohia Auto Industries; Ninebot Ltd. and Other Prominent Players
Electric Car segment and Li-ion segment. are anticipated to hold the largest U.S. electric mobility Market.
Drivers: Rising concern for global warming and The application of renewable energy
The electric mobility industry comprises all types of EVs, including battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs), and hybrid electric vehicles (HEVs). Electromobility is the application of electric cars, as well as e-bikes, electric motorbikes, e-buses, and e-trucks.
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