US Electric mobility Market

US Electric mobility Market Size

[ 170 + Pages Research Report ] 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.

Market Highlights

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.

U.S. electric mobility: Segments

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.

Market Dynamics

Drivers

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.  

U.S. electric mobility: Key Players

• Accell Group

Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis

• Airwheel Holding Limited
• Derby Cycle
• HARLEY-DAVIDSON
• Honda Motor Co. Ltd.
• Invacare Corporation
• Lohia Auto Industries;
• Ninebot Ltd
• Other Prominent Players

U.S. electric mobility Market report also contains analysis on:

U.S. electric mobility Segments:

• By Product Type  
  • Electric Scooter
  • Electric Bicycle
  • Electric Skateboard
  • Electric Motorcycle
  • Electric Car
  • Electric Wheelchair
• By Battery Type 
  • sealed lead acid
  • Li-ion
  • NiMH
• U.S. electric mobility Dynamics
• U.S. electric mobility Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints

U.S. electric mobility Market Report Scope and Segmentation

Frequently Asked Questions (FAQ):