US Electric Car Market 2022-2027

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    US ELECTRIC CAR MARKET

     

    INTRODUCTION

    An electric drive vehicle or Electric Car, often known as an EV, is a vehicle that uses one or more motors (electric or traction) to provide propulsion. The extent to which a vehicle is electrified differs from one vehicle to the next.

     

    Electric vehicles create a paradigm shift for both the transport and power sectors and could support variable renewable power growth through different charging schemes. Benefits of EVs or Electric Cars include zero tailpipe emissions and therefore less local air pollution and, depending on the power generation, lower CO2 emissions.

     

    infographic: US Electric Car Market, US Electric Car Market Size, US Electric Car Market Trends, US Electric Car Market Forecast, US Electric Car Market Risks, US Electric Car Market Report, US Electric Car Market Share

     

    EVs can also reduce noise pollution in cities. Governments should also consider promoting electric two-wheelers and electric buses as a way of reducing pollution and noise in populated regions where point-to-point charging is possible.

     

    There are two types of electric cars (EVs): battery electric vehicles (BEVs), which rely only on batteries for energy storage and must be recharged by plugging them in, and plug-in hybrid electric vehicles (PHEVs), which combine batteries with liquid-fuel storage and refueling systems.

     

    In both situations, the electric motor is extremely efficient, utilizing 90-95 percent of the input energy to propel the car forward and emitting zero pollutants. However, the usage of batteries presents two major problems for battery electric vehicles: cost and range.

     

    Most current models of BEV do not store enough energy to provide “normal” driving range and are limited to below 250  km (160  miles) per recharge.

     

     

    US ELECTRIC CAR MARKET DEVELOPMENTS AND INITIATIVES

     

    infographic: US Electric Car Market, US Electric Car Market Size, US Electric Car Market Trends, US Electric Car Market Forecast, US Electric Car Market Risks, US Electric Car Market Report, US Electric Car Market Share

     

    S No Overview of Development Development Detailing Region of Development Possible Future Outcomes
    1 President Biden’s Initiative towards 40 percent sales towards EV The White House has told U.S. automakers it wants them to back a voluntary pledge of at least 40% of new vehicles sales being electric by 2030 as it works to reduce greenhouse gas pollution United States of America – Washington DC The EV target would enhance its approach towards better mobility and adoption rates for EVs in specific.
    2 Rivian Automotive under plans for Second EV Factory The Amazon Backed Rivian Automotive is planning its second US EV factory in the country. USA – Illinois This would help in better presence of Rivian and other production process improvements
    3 Tesla made its domination into the US EV Car Market Tesla has dominated its presence across the USA as it doubles its US EV market with a market share of 71 Percent United States of America This has led to the establishment of new EV recycling and Production factories.
    4 General Motors recalls its EV Cars The US based General Motors has recalled its 70,000 Chevrolet Bolt Electric Cars over a possible risk of EV Battery to catch fire on parking United States of America The Entire battery pack is being replaced with a different design of batteries to avert this risk of fire
    5 Mercedes Benz pushes towards EV Car shift in the country.  

    The Automotive Giant, Mercedes Benz has made its impact by pushing in 47 Billion USD into EV Platform implementation.

    United States of America It has planned to set up 8 Giga factories and production centre modules.

     

     

    US ELECTRIC CAR MARKET DYNAMICS

     

    SI No Timeline Developments
    1 Q1-2022 GM launched its Chevy Silverado EV pickup at Consumer Electronics Show, US, the pickup truck is featured with batteries lasting up to 400 miles and it will be available in 2023.
    2 Q1-2022 Vietnamese firm VinFast to build an electric vehicle battery and packs manufacturing facility in the US and will stop its gasoline powered cars production by the end of 2022 to become an all electric automaker.
    3 Q4-2021 VinFast revealed its two new Electric SUVs VF e35 and VF e36 at the Los Angeles Auto Show. VinFast aims to sell 42,000 units of these globally in 2022. The company will start producing EVs in the US by the third quarter of 2024 and it also plans to set up an electric vehicle plant in Germany.
    4 Q4-2021 The Biden Administration will build half a million charging stations for EVs in the country and  the administration will invest $5 billion from its $1 trillion infrastructure law for the EV charging stations development and in the aim of electric vehicles accessible for everyone the law also grants another $2.5 billion to support charging stations in rural areas.
    5 Q4-2021 Tesla plans to expand its production of its electric vehicles in the US by investing  $10 billion in Gigafactory Texas and also employs 20,000 workers.

     

    The environment is changing continuously because of natural events that are beyond the control of humans. There are also changes caused by people, which in the past were irrelevant but, especially after the 19th century and the Industrial Revolution, have come to be significant to the degradation of the natural environment.

     

    This has brought upon the increased and integrated usage of the Battery based electric vehicles into the industrial perspective of operations and within the Global Electric car rental market optimizations.

     

    With continuous development of EV promotion and application in all fields of urban mobility, EV applied in carsharing has become increasingly widespread. Positively affected by early well-known and successful cases worldwide.

     

    Electric vehicle cars (EVs) in the US Market can satisfy personal mobility demands in the United States utilizing domestic energy supplies while also reducing carbon emissions. However, widespread adoption of light-duty electric vehicles would need a review and perhaps modification of the United States’ electric power generating and distribution infrastructure.

     

    As the EV Car market develops, it is expected that future advances in EV technology will enable greater efficiency and lower energy consumption per mile. At the same time, the current consumer trend toward larger vehicles, which typically have lower efficiency, suggests increasing energy consumption per mile.

     

    Like any transformative new technology, electric cars create a variety of potent economic development challenges and opportunities. While the electric vehicle market is still at a relatively early stage of development, it is poised to reshape industries and communities the world over.

     

    Electric cars in the US market have the potential to decrease, or at least moderate the growth of, utility rates. For a technology that will increase total demand for electricity, this may seem counter-intuitive

     

    infographics: US Electric Car Market, US Electric Car Market Size, US Electric Car Market Trends, US Electric Car Market Forecast, US Electric Car Market Risks, US Electric Car Market Report, US Electric Car Market Share

     

    US ELECTRIC CAR MARKET SEGMENTATION

     

    The US Electric Car Market can be segmented into following categories for further analysis.

     

    US Electric Car Market By Battery Type

    • Lithium Nickel Manganese Cobalt (LI-NMC)
    • Lithium Iron Phosphate (LFP)
    • Lithium Cobalt Oxide (LCO)
    • Lithium Titanate Oxide (LTO)
    • Lithium Manganese Oxide (LMO)
    • Lithium Nickel Cobalt Aluminium Oxide (NCA)

     

    US Electric Car Market By Vehicle Type

    • Hybrid Electric vehicle(HEV)
    • Plug in Hybrid Electric vehicle(PHEV)
    • Battery Electric vehicle(BEV)

     

    US Electric Car Market By Drivetrain Configuration Type

    • Two Wheel Drive
    • Four Wheel Drive
    • All Wheel Drive

     

    US Electric Car Market By Regional Classification

    • Western Region – USA
    • Mid-West Region – USA
    • Northeast Region – USA
    • Southern Region – USA

     

    RECENT TECHNOLOGICAL TRENDS IN US ELECTRIC CAR MARKET

     

    SI No Timeline Company Developments
    1 Q1-2022 Sony Sony will enter the automotive sector by starting an electric car company Sony Mobility Inc, announced by Sony Chairman and President. Sony presented its concept electric SUV Vision-S 02 at Consumer Electronics Show in the US.
    2 Q1-2022 Chrysler American automobile manufacturing company Chrysler presented its concept car  Chrysler Airflow at Consumer Electronics Show, US and planned to produce its first EV by 2025 and aims to become an all electric automaker by 2028.
    3 Q4-2021 GM GM’s Ultium powered electric commercial vehicle received orders from Merchant Fleet to supply 5,400 of its BrightDop EV410 electric vans.
    4 Q4-2021 Sensata technologies Sensata technologies launched it’s new i-BMS battery management system for EVs.The new integrated battery provides hot swapping of batteries for electric vehicles and other applications up to 60V.
    5 Q4-2021 Ford America’s best selling Electric Van, Ford E-Transit van is expected to be available in Q1-2022 and it is available in 8 variants which are manufactured at Ford’s Kansas City Assembly Plant.
    6 Q4-2021 Apple Apple will enter the automobile market by launching a fully autonomous car developing under the Project Titan and plans to launch the self-driving electric vehicle by 2025.
    7 Q4-2021 Rivian Rivian raised $11.9 billion from its IPO with a valuation of $90 Billion and it is the biggest IPO of 2021.
    8 Q4-2021 Mercedes Benz Mercedes Benz disclosed its new fully electric T-Class in the minivan segment based on the EQT concept is expected to arrive to the market in 2022

     

    The main aim of electric cars integration into the US Market is its potential contribution to increased electric vehicle adoption. The selection of a certain vehicle depends on the utility that the attributes of this vehicle have to the decision maker. In earlier years, most focus was on instrumental aspects such as price, range, and fuel consumption.

     

    In addition, electric automobiles were much more costly than gasoline-powered vehicles. These same concerns may still be repeated today, despite the fact that battery technology has progressed significantly over the previous century. Battery technology is undergoing extensive research and development in order to enhance performance while keeping batteries lightweight, small, and inexpensive.

     

    infographics: US Electric Car Market, US Electric Car Market Size, US Electric Car Market Trends, US Electric Car Market Forecast, US Electric Car Market Risks, US Electric Car Market Report, US Electric Car Market Share

     

    EV Car market has recently introduced the Hybrid Electric Vehicle (HEV) is a vehicle that has two sources of motive energy. The hybrid system currently in production uses a gasoline engine in combination with batteries and an electric motor. The impact of HEVs on copper is an increase of 70 – 100% over a conventional ICE vehicle.

     

    The Electric Cars had been arranged with the integration and onboarding of an alternative to batteries for supplying electrical power for a vehicle is fuel cells. A fuel cell powered vehicle uses the electrochemical reaction of combining hydrogen and oxygen to produce electricity. A traction motor is used as the primary propulsion unit so that the impact on copper is very favourable, resulting in an increase of 70 – 100% in copper content when compared to a standard ICE vehicle.

     

    RECENT LAUNCH

    Mercedes-Benz has unveiled its new EQS SUV, the company’s first fully electric SUV developed in the United States for the American market.

     

    The car is a brother to the EQS sedan, which was unveiled last year, but with seating for up to seven people and a taller, more bubbly attitude. According to Mercedes-Benz, it will compete with the Tesla Model X and BMW iX.

     

    The EQS SUV, like the sedan, has a tech-savvy interior with three screens that fill virtually the whole instrument panel. The screens are covered by a single curved glass surface, one of which is a passenger screen that is not visible to the driver.

     

    Mercedes-Benz has entered a new, all-electric era in the highest market divisions with the luxury EQS sedan and the sporty executive EQE sedan.

     

    The BMW i7 will be a fully electric version of the 7 Series’ next generation. The brand has already provided teaser images of the model, and one trim level was recently revealed: the i7 xDrive60

     

    While General Motors hasn’t made any official announcements about a future Buick Electra fully electric SUV, it did file an updated trademark for the Electra name.

     

    As GM moves forward with major plans to provide a wealth of electric cars and SUVs over the next several years, a Buick electric crossover would be fitting. The automaker already launched the Cadillac Lyriq crossover and announced plans for a Chevrolet Equinox EV.

     

    The Chrysler Airflow concept already looks as though it’s ready for production.

     

    US ELECTRIC CAR MARKET COMPETITIVE LANDSCAPE

     

    SI No Timeline Company Developments
    1 Q1-2022 Tesla Tesla delivered 308,600 Evs in the fourth quarter of 2021 and the company announced its full year deliveries recorded 936,172 electric vehicles, setting a new record.
    2 Q1-2022 GM GM sales in the fourth quarter decreased to 43% due to chip shortage and sold 440,745 units. GM delivered only 26 electric vehicles in the fourth quarter of 2021, sales down by almost 100% because production paused to solve battery defects in Bolt EV and Bolt EUV.
    3 Q1-2022 Ford In the US, Ford Motors sold about 1.9 million vehicles and among EVs, Ford became the  second largest EV manufacturer in the US after Tesla.
    4 Q4-2021 Rivian US based EV startup Rivian received Motor Trend Truck of The Year for the R1T battery electric pickup. Rivian to supply 100,000 all-electric delivery vans for Amazon.
    5 Q4-2021 Tesla Leading US electric vehicles manufacturer Tesla Motors valuation crossed $1 trillion after the receiving orders of 100,000 vehicles from rental car company Hertz.

     

    The objective for automakers is to accomplish these benefits without sacrificing vehicle performance, range, or safety. The HEV Car can function two times more effectively than standard ICE cars because it has two drive trains (one ICE that runs on gasoline or other fuels and a battery-powered electric drivetrain).

     

    Electric vehicles are the closest thing to a pollution-free mode of transportation. Only the creation of power to charge their batteries and, potentially, the disposal of the batteries would have negative environmental consequences (although recycling may dispel this concern).

     

    infographics: US Electric Car Market, US Electric Car Market Size, US Electric Car Market Trends, US Electric Car Market Forecast, US Electric Car Market Risks, US Electric Car Market Report, US Electric Car Market Share

     

    Chevrolet EV Model of Bolt 2022 Version has been playing a major role in EV Adoption across the USA in various segments of lifestyles and operational requirements. 2022 Bolt EV comes standard with Chevy Safety Assist suite of advanced safety features designed to let you go confidently ahead. It is integrated with a 11.5kW Level 2 Charging Capability and EPA based estimated 259 Miles charging sustained operations on a single full charge. The Electric car has a power capability of 200hp with a 5 Seating capability.

     

    Rivian Electric Vehicles has been the most established Company into manufacturing EV Cars in the USA. The R1T Model of EV can operate across the hottest and coldest places from 130F to -25F our battery system has been developed to explore.

     

    At launch, the R1T will deliver 300+ miles. In January 2022, a 400+ mile R1T will be available. The R1T can drive through 3 feet of water and Rock crawl at a 100% grade. Traverse just about any terrain with 14 inches of ground clearance. With a 0-60 mph time in as quick as 3 seconds

     

    US ELECTRIC CAR MARKET COMPANIES PROFILED

     

    THIS US ELECTRIC CAR MARKET REPORT WILL ANSWER FOLLOWING QUESTIONS

    1. US Electric Car Market size and Forecast, by region, by application
    2. Average B-2-B price for US Electric Car Market, by region, per user
    3. Technology trends and related opportunity for new US Electric Car Market tech suppliers
    4. US Electric Car Market share of leading vendors, by region,
    5. Coronavirus impact on US Electric Car Market earnings
    Sl no Topic
    1 Market Segmentation
    2 Scope of the report
    3 Abbreviations
    4 Research Methodology
    5 Executive Summary
    6 Introduction
    7 Insights from Industry stakeholders
    8 Cost breakdown of Product by sub-components and average profit margin
    9 Disruptive innovation in the Industry
    10 Technology trends in the Industry
    11 Consumer trends in the industry
    12 Recent Production Milestones
    13 Component Manufacturing in US, EU and China
    14 COVID-19 impact on overall market
    15 COVID-19 impact on Production of components
    16 COVID-19 impact on Point of sale
    17 Market Segmentation, Dynamics and Forecast by Geography, 2022-2027
    18 Market Segmentation, Dynamics and Forecast by Product Type, 2022-2027
    19 Market Segmentation, Dynamics and Forecast by Application, 2022-2027
    20 Market Segmentation, Dynamics and Forecast by End use, 2022-2027
    21 Product installation rate by OEM, 2022
    22 Incline/Decline in Average B-2-B selling price in past 5 years
    23 Competition from substitute products
    24 Gross margin and average profitability of suppliers
    25 New product development in past 12 months
    26 M&A in past 12 months
    27 Growth strategy of leading players
    28 Market share of vendors, 2022
    29 Company Profiles
    30 Unmet needs and opportunity for new suppliers
    31 Conclusion
    32 Appendix

     

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