US Electric Car Market 2021-2026

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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

    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

    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

     

    US ELECTRIC CAR MARKET SEGMENTATION

     

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

     

    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)

     

    By Vehicle Type

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

     

    By Drivetrain Configuration Type

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

     

    By Regional Classification

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

     

    RECENT MARKET TECHNOLOGICAL TRENDS IN US ELECTRIC CAR MARKET

    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.

     

    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.

     

    COMPETITIVE LANDSCAPE

    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).

     

    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

     

    COMPANIES PROFILED

     

     

    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, 2021-2026
    18 Market Segmentation, Dynamics and Forecast by Product Type, 2021-2026
    19 Market Segmentation, Dynamics and Forecast by Application, 2021-2026
    20 Market Segmentation, Dynamics and Forecast by End use, 2021-2026
    21 Product installation rate by OEM, 2021
    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, 2021
    29 Company Profiles
    30 Unmet needs and opportunity for new suppliers
    31 Conclusion
    32 Appendix

     

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