In the fourth quarter of 2024, over ******* battery-electric vehicles were sold in the United States. This was a year-over-year increase of around **** percent compared to the sales recorded in the fourth quarter of 2023. The fourth quarter of 2024 also recorded a hike in sales compared to the third quarter of that same year, making it the best quarter for BEV sales in the country across the past two years. Global EV Race - Where does the U.S. stand? Over the last few years, consumers have perceived Electric Vehicles (EVs) as a far more appealing option due to their increased range, battery life, variety of models, and affordability. Therefore, the EV market has grown fast in recent years and is forecast to expand to *** trillion U.S. dollars in 2029. Though the global demand for electric cars has been escalating, American sales lag behind Europe and the Asia-Pacific regions. In 2023, Chinese customers bought around *** million plug-in EVs, considerably more than American customers' purchases,around *** million that year. China is the leader of the global EV race, with a substantial ** percent growth in sales year-on-year in 2023. However, given the market share of electric vehicles in the global automotive industry, this still can be anyone's race. Outlook of the U.S. market There is still a lack of interest in electric vehicles among American buyers compared to European and Asian consumers. In the first quarter of 2021, the share of the battery electric vehicle was **** percentage points more in Norway than in the U.S.. One of the main reasons is that American consumers still anticipate that EVs are more expensive than gasoline vehicles and diesel internal combustion engine cars (ICE). This perception is partially true in the U.S. since the battery production market is highly concentrated in Asia, where the companies have logistical advantages, leading automotive makers to offer better prices. On the other hand, high licensing fees for electric vehicles are another factor affecting the consumption behaviors of automobile purchasers. In many states, the licensing fees for electric cars are considerably higher than their ICE counterparts. EV licensing fees were around *** U.S. dollars compared to ** U.S. dollars for standard vehicles in Georgia in 2021. Together, these factors significantly impact the individual perception of electric cars in the United States.

Introduction

Electric Vehicle Statistics: An electric vehicle, sometimes known as an EV. It is a type of vehicle that is propelled by one or more electric motors or traction motors.

Unlike classic ICE vehicles that run on gasoline or diesel. Electric vehicles (EVs) are powered by energy stored in batteries or supplied by an external power source.

The primary energy source for EVs is electricity, converted into mechanical energy to drive the vehicle. Different types of electric vehicles cater to various needs and preferences. Offering options for emissions reduction, energy efficiency, and varying ranges.

As technology advances, the electric vehicle landscape evolves, with more models and variations becoming available to consumers.

Electric vehicles are projected to account for ** percent of the market in 2035, up from a forecast of ** percent in 2030. Overall, American motorists bought some **** million light vehicles in 2020, a volume which is tipped to keep growing.  Tesla sparks sales growth Tesla accounted for the majority of plug-in electric vehicles sold in the United States in 2020. As of now, Tesla is leading the race towards the electrification of transport in the United States. The California-based carmaker reported 2020 sales nearing ****** units of its most recent model addition, the Model Y. The Model 3 came first in the ranking, at ****** sales. The latter was introduced in July 2017 at a starting price of ****** U.S. dollars and has become Tesla’s most successful model so far. Overall, consumers in the U.S. bought ******* Tesla-badged vehicles in 2021.  The great brand divide   The Tesla brand exerts such dominance in the market that it plays in a league of its own. Even though there are other brands competing with Tesla globally, it looks like they do not stand a chance to bite into Tesla’s U.S. market share. U.S. car shoppers only bought ****** Chevrolet Bolt EV and just ****** Nissan-badged LEAF battery electric vehicles in 2020.

The number of battery electric vehicles sold in the United States came to about *** millions in 2024, with sales of Tesla models accounting for around **** percent of that figure. Second-ranked Ford accounted for only *** percent of U.S. battery electric vehicle sales. Tesla puts electric vehicle sales in the fast lane The Tesla Model Y was the best-selling all-electric car in the United States in 2024, with the Model 3 a strong runner-up. Tesla enjoyed a successful year in 2024, with sales in the United States generating revenues of around **** billion U.S. dollars. Tesla’s sales performance in 2024 not only strengthened its position as one of the market leaders in the EV market, but it also made an impression on the overall automotive market in the United States. Positive news regarding battery charge time One of the main talking points regarding battery electric vehicles is the time it takes to charge them. The number of publicly available fast chargers is increasing across the United States, and these are proving essential for vehicle users who wish to drive long distances. Vehicles equipped with a fast-charging socket can be charged much quicker because fast chargers provide power directly to the battery, without the need for an in-car inverter. A vehicle with a battery capacity of 75 kWh can, for example, be charged to a suitable level in around one hour using a quick charger delivering 50 kW of power.

In the fourth quarter of 2024, the Tesla Model Y was the best-selling battery-electric vehicle in the United States, soaring in sales since the fourth quarter of 2020. Tesla dominated the market, with ***** of the **** leading BEV models being from the brand that quarter. The Model Y was also among the best-selling cars in the United States in 2024, all powertrains included.

This dataset shows the Battery Electric Vehicles (BEVs) and Plug-in Hybrid Electric Vehicles (PHEVs) that are currently registered through Washington State Department of Licensing (DOL).

The Used Electric Vehicles Market worldwide is valued to be around US$ 17,890.5 million this year and is anticipated to register a CAGR of 8.4% over the forecast years. As per the global used EV market analysis report, the net worth of the market would be reaching US$ 40,078.9 million by 2033.

Electric vehicles amounted to around 16.7 percent of global passenger car sales in 2023, which was a rise of around 3.1 percentage points year-over-year. Electric vehicle sales have rapidly increased since 2017, when they rose above one percent of the market, and have particularly accelerated since 2020. Many consumers started looking for more sustainable transportation methods amid the COVID-19 pandemic due to increased environmental consciousness. This contributed to the EV market expansion worldwide. A market driven by innovation Various factors contribute to the rapid growth of the electric vehicle market, including consumer perception, governmental targets, and investments in technological innovation. Regional institutions and national governments are committing to policies supporting electric vehicle adoption worldwide, with around 97 percent of the light-duty vehicle market comprising countries with these policies. Governmental spending on electric cars reached around 45 billion current U.S. dollars in 2022, the steepest increase recorded in the past five years, and global automakers are also allocating part of their revenue toward research and development expenses. Challenges and opportunities for EV charging Electric vehicle charging was the second technology type receiving the most early and growth-stage venture capital investments in 2023, above electric vars and electric two-wheelers. In 2023, there were around 11 electric vehicles per charging point worldwide, and access to this infrastructure was unequal, with China boasting the largest electric vehicle supply equipment network. Slow chargers, typically alternating current, were also the most common charging type, creating opportunities for the development of fast charging across the globe.

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Electric Vehicle (EV) Market Size 2025-2029

The electric vehicle (ev) market size is forecast to increase by USD 446.4 billion, at a CAGR of 16.4% between 2024 and 2029.

The market is experiencing significant growth due to the increasing demand for low-emission vehicles. This trend is driven by heightened environmental consciousness and stringent emissions regulations. Furthermore, the appeal of EVs as a sustainable alternative to traditional internal combustion engine vehicles is gaining traction. However, the market faces a notable challenge in the form of insufficient charging infrastructure. As the adoption of EVs continues to rise, addressing this issue becomes crucial for market expansion. Charging stations powered through renewable energy sources offer a potential solution, aligning with the environmental benefits of EVs and addressing concerns related to carbon emissions. Companies seeking to capitalize on the opportunities presented by the EV market must focus on expanding charging infrastructure while ensuring its integration with renewable energy sources. This strategic approach will enable them to meet the growing demand for EVs and maintain a competitive edge in the market.

What will be the Size of the Electric Vehicle (EV) Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
Request Free SampleThe market continues to evolve, driven by advancements in battery technology and the integration of renewable energy sources. Battery chemistry and capacity are key factors shaping the market, with ongoing research into solid-state batteries and their potential for increased energy density and faster charging times. EV adoption is gaining momentum across various sectors, from urban mobility and electric buses to electric trucks and motorcycles. Carbon footprint reduction is a primary motivation for the shift towards EVs, with transportation electrification offering significant potential for decarbonizing the energy sector. Renewable energy sources, such as wind power, are increasingly integrated into the electric grid to support the growing demand for EV charging. EV infrastructure development is a critical component of the market's growth, with a focus on expanding charging station networks and improving charging time through fast charging technology. Regenerative braking and vehicle-to-grid (V2G) capabilities offer additional benefits, enabling EVs to contribute to the grid and reduce energy consumption. EV manufacturing processes are also undergoing transformation, with a focus on increasing efficiency and reducing costs. Government subsidies and incentives continue to play a role in driving adoption, while the evolving EV supply chain adapts to meet growing demand. The electric powertrain's performance metrics, including range and efficiency, are continually improving, addressing concerns around range anxiety and boosting consumer confidence. Battery life and recycling are also important considerations, with efforts underway to develop closed-loop systems for battery recycling and repurposing. In the evolving landscape of the EV market, the integration of smart grid technology and the expansion of charging infrastructure are essential for ensuring a seamless transition to electric mobility. The ongoing dynamism of the market underscores the importance of staying informed about the latest developments and trends.

How is this Electric Vehicle (EV) Industry segmented?

The electric vehicle (ev) industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments. TypeBEVPHEVChargingNormal chargingSuper chargingDrive TypeFWDRWDAWDFWDRWDAWDGeographyNorth AmericaUSCanadaEuropeFranceGermanyNorwayUKAPACChinaIndiaJapanSouth KoreaRest of World (ROW).

By Type Insights

The bev segment is estimated to witness significant growth during the forecast period.Electric Vehicles (EVs), specifically Battery Electric Vehicles (BEVs), are gaining momentum in the US market due to their environmental benefits and technological advancements. BEVs, which run solely on electric power from a battery, are easier and less capital-intensive to manufacture compared to Plug-in Hybrid Electric Vehicles (PHEVs), as they do not require an internal combustion engine. The charging infrastructure is a crucial component of the EV market, with fast charging and charging time being significant concerns for consumers. Charging stations are being integrated into the electric grid to optimize energy usage and promote renewable energy sources like wind and solar. Regenerative braking technology in EVs helps recharge the battery while driving, increasing overall efficiency. Urban mobility is a key

Electric vehicle charging infrastructure historical and current session data from the present day to 2019 covering the continental US and Europe. Charging stations are logged by the minute to see the individual sessions over a stations' life. Our dataset contains sessions for approximately 90,000 stations.

Our data is unique in that it is aggregated from a wide range of sources, and internally enhanced, giving us the ability to provide a consistent set of validated and accurate data. Users can use this data to deeply understand charging station utilization.

Use cases for this data include (but are not limited to): Market research, usage prediction for electric utility companies, charger usage prediction for up and coming locations, and more. We can also help municipalities with identifying supply and demand gaps.

Learn more at evseinsights.com.

The U.S. Electric Vehicle Market size was valued at USD 8.6 Thousand Units in 2023 and is projected to reach USD 10.94 Thousand Units by 2032, exhibiting a CAGR of 3.5 % during the forecast period. An electric powered vehicle operates on strength in contrast to its counterpart, which runs on gas. Instead of inner combustion engine, those cars run on an electric powered motor that calls for regular deliver of power from batteries to operate. There are a whole lot of batteries utilized in those vehicles. These consist of lithium ion, molten salt, zinc-air, and diverse nickel-primarily based totally designs. The electric powered vehicle became on the whole designed to update traditional methods of journey as they result in environmental pollution. It has received popularity, due to severe technological advancements. It outperforms traditional cars imparting better gas economy, low carbon emission & maintenance, comfort of charging at home, smoother drive, and decreased sound from engine. There are 3 sorts of electric powered vehicle batteries, hybrid, and plug-in hybrid electric powered cars. In addition, electric vehicle require no engine oil modifications however are barely high-priced than their gas equivalents. Key drivers for this market are: Increasing Demand for Forged Products in Power, Agriculture, Aerospace, and Defense to Drive Industry Expansion. Potential restraints include: Lower Usage of Commercial Charging Stations Could Hamper U.S. EV Market Prospects. Notable trends are: Rising Adoption of Automation in Manufacturing to Drive Market Growth.

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Micro Electric Vehicle Market Size 2023-2027

The micro electric vehicle market size is forecast to increase by USD1.54 th units at a CAGR of 8.02% between 2022 and 2027.

The market is experiencing significant growth, driven by several key trends. One major factor fueling market expansion is the establishment of dedicated consortiums for the development of micro electric vehicles, leading to innovative designs and vehicle platforms that cater to the unique needs of consumers. Additionally, advancements in Li-ion batteries, lighter construction materials, and increasing automation are enhancing the drivability and maneuverability of these vehicles. However, it is essential to note that the power grids serving as a source for charging these electric vehicles can indirectly contribute to environmental pollution. Despite this challenge, the market is poised for continued growth, with consumers increasingly seeking sustainable and eco-friendly transportation solutions.

What will be the Size of the Micro Electric Vehicle Market During the Forecast Period?

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The market is experiencing significant growth in the United States, driven by the demand for green transportation solutions in the context of smart cities. With increasing focus on emission reduction and the adoption of renewable energy, alternative fuels such as electric vehicles (EVs) are gaining popularity. Micro electric vehicles, including one-seater EVs and compact cars, offer sustainable transportation alternatives for urban mobility and last-mile delivery. Battery technology advancements and charging solutions have made EVs more accessible and convenient for consumers. Electric vehicle infrastructure, including charging stations, is being integrated into transportation infrastructure to support the growing demand for emission-free driving.Regulations and incentives are also playing a crucial role in the adoption of micro electric vehicles, with many cities and states implementing policies to promote the use of eco-friendly vehicles. Moreover, the integration of autonomous vehicles and mobility data analytics into the mobility ecosystem is expected to further drive the growth of the market. Urban planning initiatives are also focusing on traffic congestion solutions and emission reduction strategies, making micro electric vehicles an attractive alternative to traditional transportation methods. Overall, the market is poised for continued growth as a key component of the sustainable transportation landscape.

How is this Micro Electric Vehicle Industry segmented and which is the largest segment?

The micro electric vehicle industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD th units' for the period 2023-2027, as well as historical data from 2017-2021 for the following segments.TypeGolf and micro carsQuadricycleApplicationCommercialPersonalPublic utilitiesGeographyNorth AmericaCanadaUSAPACJapanEuropeGermanyUKSouth AmericaMiddle East and Africa

By Type Insights

The Golf and micro cars segment is estimated to witness significant growth during the forecast period.

The market is primarily driven by the golf carts and micro cars segments, accounting for approximately 80% of the market share. This dominance is attributed to the rising sales of electric golf carts and personal utility vehicles in regions like North America and Europe. Additionally, micro cars with a maximum power rating of up to 15 kW are gaining popularity due to their low carbon footprint and cost-effectiveness for personal use. In commercial applications, such vehicles are increasingly utilized for cargo transportation, particularly in industries with large campuses or distribution centers. The electrification trend in the transportation sector is further propelling the market growth.Intelligent charging programs and electrification technologies are being integrated into these vehicles to enhance their functionality and efficiency. The market is expected to continue expanding as more businesses and consumers adopt sustainable and cost-effective transportation solutions.

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The Golf and micro cars segment accounted for USD 2127.62 th units in 2017 and showed a gradual increase during the forecast period.

Regional Insights

North America is estimated to contribute 47% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The market in North America is experiencing significant growth due to increasing demand for personal, affordable, and environmentally responsible trans

The North America Electric Vehicle Market size was valued at USD 62.73 USD Billion in 2023 and is projected to reach USD 178.36 USD Billion by 2032, exhibiting a CAGR of 16.1 % during the forecast period. An electric vehicle defined as the vehicle can be generated by electric motor which is draws for electricity from battery. There are the several types of electric vehicles such as, battery electric vehicle, hybrid electric vehicle, fuel cell electric vehicle.Rather than having batteries that are powered by either gas or diesel, electric vehicles get their power from electricity. Electric vehicles which run on electricity have several benefits such as running at lower expenses, incurring fewer maintenance fees, not emitting anything through the exhaust system and so forth. This has made many people want them because they have both financial incentives & taxes. The increase in awareness on matters concerning environment conservation has driven most people within North America into buying electric cars due to rising concerns on air pollution and would be the same factors that have pushed people in USA into adopting this technology. It could be these factors fuelling the growth of North America Electric Vehicle Market: Sooner or later the percentage will increase enough that this trend becomes irreversible. Electric SUVs and pickup trucks are also among the other varied preferences from different people who are attracted by having a wider variety of EV models available. Key drivers for this market are: Increasing Demand for Forged Products in Power, Agriculture, Aerospace, and Defense to Drive Industry Expansion. Potential restraints include: High Upfront Cost & Limited Driving Range Hamper the Market Growth. Notable trends are: Rising Adoption of Automation in Manufacturing to Drive Market Growth.

Charging data are collected from one of three sources, each with varying levels of additional information. These sources, in approximate order from most to least additional information, are: • The electric vehicle supply equipment (charger) • Onboard the vehicle itself • From a utility submeter. Many chargers provide software that allows for the collection and reporting of charging session data. If unavailable, data may be recorded by the charging vehicle’s onboard systems. If neither of these options is available, data can be acquired from utility submeters that simply track the energy flowing to one or more chargers. Data collected directly from the electric vehicle supply equipment (EVSE) are typically the most accurate and highest frequency. However, it is not always possible to discern which exact vehicle is being charged during any one session. EVSE-side data can be identified where a single charger ID but a range of vehicle IDs are present (e.g., CH001, EV001-EV005). Data collected from the vehicle’s onboard systems usually does not provide information on which exact charger is being used. Vehicle-side data can be identified where a single Vehicle ID but a range of Charger IDs are present (e.g., EV001, CH001-CH005). Data collected from utility submeters provide no information on which specific vehicle is charging or which specific charger is in use. Submeter data can be identified where multiple Vehicle IDs and multiple Charger IDs are present, but only a single Fleet ID is present (e.g., EV001-EV005, CH001-CH005, Fleet01). The Charge Data Daily/Session Dictionaries contains definitions for each available parameter collected as part of an individual charging session, aggregated at either a daily or session level. The parameters available will vary between vehicles and chargers. The Charger Attributes table contains specific charger characteristics, coded to at least one anonymous Charger ID and linked to either a single or a range of Vehicle IDs. Vehicle ID can be used as a key between charging data and vehicle attribute tables. The Charger Attributes Data Dictionary contains definitions for each available parameter collected on the physical and operational characteristics of the charging hardware itself. The Vehicle Attributes Data Dictionary contains definitions for each available parameter associated with a vehicle’s physical and functional attributes and fleet context. The Vehicle Attributes table contains specific vehicle characteristics, coded to an anonymous Vehicle ID. This Vehicle ID can be used as a key between vehicle data and vehicle attribute tables, and in cases where charging data are supplied, links a vehicle with the charger(s) that supplied it power. The Charging Data tables contain the data from each charger’s operations, coded to at least one anonymous Charger ID and linked to either a single or a range of Vehicle IDs. Vehicle ID can be used as a key between charging data and vehicle attribute tables. Data is being uploaded quarterly through 2023 and subject to change until the conclusion of the project.

Second-Hand (SH) vehicle imports from the US comprise nearly 30 percent of Mexico’s light-duty vehicles. As US electric vehicle (EV) adoption progresses, SH EVs will increasingly enter Mexico. SH EVs could speed vehicle electrification, but also present environmental and economic risks because they are larger and reach retirement faster than new EVs. Understanding future flows of used and new EVs into Mexico’s fleet, and their expected retirement, is needed to understand if SH EVs provide a net benefit. This research uses system dynamics modeling to project future EV adoption and SH vehicle trade between the US and Mexico. Results show EVs will comprise nearly 50% of Mexico’s fleet and up to 99% of SH imports by 2050, and SH EV batteries disproportionately contribute to the stock of spent EV batteries. Policies to ensure SH vehicle trade provides net benefits for the region include import and export battery state-of-health restrictions. Methods The multiple background datasets used in the study were collected from official sources in both the United States and Mexico. For Mexico, data on second-hand (SH) vehicle imports was obtained from the National Customs Agency (ANAM), and historical vehicle fleet and sales data were sourced from the National Institute for Statistics and Geography (INEGI). For the U.S., vehicle sales projections were based on the U.S. Energy Information Administration’s (EIA) forecasts, with additional adjustments made to align with government policy goals, such as the White House’s target for EV adoption. These datasets were integrated into a multi-region stock turnover model, and further refined using optimization techniques to align the model's outputs with historical records. Then, the model incorporated battery characterization data from BatPaC v5.0 (Argonne National Laboratory) to estimate the recoverable amounts of various materials per battery pack type at their end-of-life, including lithium, nickel, cobalt, manganese, aluminum, copper, and steel. The aim was to estimate the battery mass of critical battery materials associated with used EV exports.

The United States Electric Car Market is segmented by Vehicle Configuration (Passenger Cars) and by Fuel Category (BEV, FCEV, HEV, PHEV). The report offers market size in both market value in USD and market volume in unit. Further, the report includes a market split by Vehicle Type, Vehicle Configuration, Vehicle Body Type, Propulsion Type, and Fuel Category.

This statistic represents a projection of all-electric vehicle penetration rate in North America between 2017 and 2030. All-electric vehicles are projected to penetrate the North American market at a rate of ** percent by 2030.

The increasing diversity of vehicle type holdings and growing demand for BEVs and PHEVs have serious policy implications for travel demand and air pollution. Consequently, it is important to accurately predict or estimate the preference for vehicle holdings of households as well as the vehicle miles traveled by vehicle body and fuel type to project future VMT changes and mobile source emission levels. The current report presents the application of a utility-based model for multiple discreteness that combines multiple vehicle types with usage in an integrated model, specifically the MDCEV model. We use the 2019 California Vehicle Survey data here that allows us to analyze the driving behavior associated with more recent EV models (with potentially longer ranges). Important findings from the model include:

Household characteristics like size or having children have an expected impact on vehicle preference: larger vehicles are preferred. College education, rooftop solar ownership, and the number of employed workers in a household affect the preference for BEVs and PHEVs in the small car segment dominated by the Leaf, Bolt, Prius-Plug-in and the Volt often used as a commuter car. Among built environment factors, population density and the walkability index of a neighborhood have a statistically significant impact on the type of vehicle choice and VMT. It is observed that a 10% increase in population density reduces the preference for ICEV pickup trucks by 0.34% and VMT by 0.4%. However, if the increase in population density is 25%, the reduction in preference for pickup trucks is 8.4% and VMT is 8.6%. The other built environment factor we consider is the walkability index. If the walkability index of a neighborhood increases by 25%, it reduces the preference for ICEV pickup trucks by 15% and their VMT by 16%. Overall, these results suggest that if policies encourage mixed development of neighborhoods and increase density, it can have an important impact on ownership and usage of gas guzzlers like pickup trucks and help in the process of electrification of the transportation sector.

Methods The dataset used in this report was created using the following public data sources:

2019 California Vehicle Survey: "Transportation Secure Data Center." ([2019]). National Renewable Energy Laboratory. Accessed [04/26/2023]: www.nrel.gov/tsdc. The Smart Mapping Tool by EPA: https://www.epa.gov/smartgrowth/smart-location-mapping

American Community Survey: https://www.census.gov/programs-surveys/acs

Employment statistics on the Hybrid & Electric Vehicle Manufacturing industry in the US

Dive into the evolving state of electric and hybrid vehicle manufacturing and how the industry is rippling across the US economy.