U.S. Electric Mobility Market Size, Growth Analysis to 2027
The global U.S. Electric Mobility market gathered revenue around USD 28.1 Billion in 2020 and market is set to grow USD 120.1 Billion by the end of 2027 and is estimated to expand at a modest CAGR of 20.4% during the prediction period 2021 to 2027.
Growth Factors:
The adoption of electric vehicles, especially e-scooters among the youth, quick urbanization, and increasing purchasing capacity in the country are expected to significantly increase the demand for electric mobility in the U.S., thereby supporting the market growth. Furthermore, growing concerns about the rapidly rising carbon footprint and greenhouse gases from the transportation and automotive industries are encouraging state and country-level regulatory bodies to set up policies that promote the adoption of energy-efficient vehicles.
An increasing number of governments are setting regulations, objectives, and policies for electric vehicle deployment, signaling OEMs and other industry stakeholders to actively participate in the industry, and building confidence based on mobilizing investments and policy frameworks. For instance, the Alliance for Zero Emission Vehicle (ZEV), including the European region and its countries, Canadian provinces, and several states in the U.S., has announced that it will strive to make all passenger vehicle sales in the jurisdiction of the member countries and states ZEVs by 2050.
This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the U.S. Electric Mobility market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global U.S. Electric Mobility market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.
Report Coverage
| Report Scope | Details |
| Market Size | USD 120.1 Billion by 2027 |
| Growth Rate | CAGR of 20.4% From 2021 to 2027 |
| Base Year | 2020 |
| Forecast Period | 2021 to 2027 |
| Historic Data | 2017 to 2020 |
| Report coverage | Growth Factors, Revenue Status, Competitive Landscape, and Future Trends |
| Segments Covered | Product, battery, voltage and Region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
| Companies Mentioned | Accell Group; Airwheel Holding Limited; Derby Cycle; HARLEY-DAVIDSON; Honda Motor Co. Ltd.; Invacare Corporation; Lohia Auto Industries; and Ninebot Ltd.. |
COVID-19 Impact Assessment on Market Landscape
The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.
U.S. Electric Mobility market Report empowers readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.
By Product analysis:
Based on product, the U.S. electric mobility market can be categorized into segments such as the electric bicycle, electric scooter, electric skateboard, electric car, electric motorcycle, and electric wheelchair. The electric car segment dominated the market in 2020 and accounted for an overall market share of 80.7%. The segment growth can be attributed to the increasing adoption rate of electric cars compared to skateboards, bicycles, and wheelchairs.
The electric motorcycle segment is expected to expand at a CAGR of 29.4% over the forecast period. The U.S. government and regulatory bodies are boosting the adoption of electric two-wheelers by proposing tax concession, which is projected to contribute to the growth prospects of the electric mobility market in the U.S. Numerous companies have also emphasized investing in the e-motorcycle business, which is expected to further support the growth of the electric motorcycles segment and the overall electric mobility in the U.S. For instance, in July 2019, Harley-Davidson launched Livewire, its first electric motorcycle
By Battery analysis:
Based on battery, the market is segmented 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 increasing awareness of adopting eco-friendly batteries and the environmental and performance advantages of Li-Ion batteries over NiMH and sealed lead-acid batteries have boosted the demand for Li-Ion batteries. Li-Ion battery’s performance s expected to position Li-Ion technology as a global mainstream battery technology for electric vehicles over the forecast period. Furthermore, the price of Li-Ion batteries is projected to witness a significant decline owing to low-cost cathode composition in the coming years, reducing the overall cost of electric vehicles.
The NiMH battery segment is projected to expand at a CAGR of 19.7% over the forecast period. NiMH batteries offer 500 complete charge cycles before their replacement. They have a better battery lifecycle compared to lead-acid batteries and are lightweight.
By Voltage analysis:
Based on voltage, the market can be segmented into 24V, 36V, 48V, and greater than 48V. The 24V segment accounted for 37.9% of the overall revenue in 2020. These batteries hold high compatibility with electric vehicles and offer greater power output, which is anticipated to support the segment growth over the forecast period. However, the surge in the demand for 48V batteries owing to growing customer preferences for vehicles with long-lasting battery range to avoid frequent charging of the battery is expected to fuel the growth of the 48V batteries segment.The 48V segment is projected to register a CAGR of 21.1% from 2021 to 2027. The use of higher voltage levels, for instance, scooters with 48V, offers advantages such as high efficiency, less electric consumption, and better power for the vehicle. These voltage systems help reduce carbon dioxide emissions at acceptable cost levels. Furthermore, these systems offer features such as air conditioning compressors and turbochargers, which are challenging to implement in 12V or 24V systems.
Competitive Rivalry
Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
Some of the prominent players in the U.S. Electric Mobility Market include: Accell Group; Airwheel Holding Limited; Derby Cycle; HARLEY-DAVIDSON; Honda Motor Co. Ltd.; Invacare Corporation; Lohia Auto Industries; and Ninebot Ltd.
Segments Covered in the Report
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2027 and covers subsequent region in its scope:
By Geography
North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)
Highlights of the Report:
Research Methodology
In the study, a unique research methodology is utilized to conduct extensive research on the growth of the U.S. Electric Mobility market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.
Secondary resources referred to by analysts during the production of the U.S. Electric Mobility market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the U.S. Electric Mobility markets more accurate and reliable.
Secondary Research
It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.
The secondary research sources referred in the process are as follows:
Primary Research
Primary research includes face-to face interviews, online surveys, and telephonic interviews.
Industry participants involved in this research study include:
Key Points Covered in U.S. Electric Mobility Market Study:
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers