United States Electric Vehicle Mobility Market Trends and Forecast: Insights for 2028 and Beyond

The United States electric vehicle mobility market is poised to experience substantial growth in the forecast period from 2023 to 2028.
 
MANHATTAN, N.Y. - June 15, 2023 - PRLog -- The market has witnessed a steady increase in the sales of electric vehicles across various segments, including passenger cars, two-wheelers, and three-wheelers. In 2021 alone, approximately 608 thousand units of electric vehicles, including plug-in hybrid electric vehicles (PHEVs), were sold, marking a significant increase from the 308 thousand units sold in 2020, as reported by the International Energy Agency (IEA).

Rising Demand for Electric Two-Wheelers Drives Market Growth

The demand for electric two-wheelers has witnessed a significant surge, particularly among the younger generation, leading to increased sales. Numerous online platforms now offer easy access to electric scooters and motorcycles, catering to the growing customer demand. Consequently, many companies have scaled up their manufacturing capacity for electric vehicles to meet the rising market requirements. Notably, Tesla Inc., with its popular electric car model, holds the largest market share among major players in the United States. Tesla offers four distinct models of passenger cars, namely the Tesla Model 3, Tesla Model S, Tesla Model X, and Tesla Model Y. The cumulative sales of these Tesla models as of 2022 stand at 156,357 units for the Tesla Model 3, 23,464 units for the Tesla Model S, 19,542 units for the Tesla Model X, and 191,451 units for the Tesla Model Y, making it the leading company in electric vehicle sales in the United States.

Increasing Investments and Production Capacities in Electric Vehicle Segment

With the surging demand for electric vehicles in the country, several automotive companies have begun investing in the electric vehicle segment. Additionally, electric vehicle manufacturers have ramped up their production capacities to meet the growing market demand. This trend is driven by technological advancements and the rising popularity of electric vehicles, prompting automotive manufacturers to invest in research and development to introduce new vehicle ranges that cater to market demand.

The United States electric vehicle mobility market can be segmented based on product type, battery type, voltage, region, and company. In terms of product type, electric scooters currently dominate the market in 2022, while electric cars are projected to gain a substantial market share in the coming years.

Some of the major players operating in the United States electric vehicle mobility market include:
  • Kia Corporation
  • Tesla, Inc
  • Hyundai Motor Company
  • Segway Inc.
  • Yadea Technology Group Co., Ltd.
  • Zero Motorcycles, Inc
  • BAIC Automotive Group Co., Ltd.
  • Harley-Davidson Motor Company Group, Inc
  • Nissan Motor Co., Ltd.
  • Bird Rides Inc.

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