North America Electric Vehicle Market Forecast 2022-2026

North America Electric Vehicle Market Forecast 2022-2026

KEY FINDINGS

The North America electric vehicle market is expected to record a 31.65% CAGR during the forecast years 2022 to 2026. The adoption of electric vehicles to reduce CO2 emissions, discounted tariff rates to benefit the consumers, etc., drive market growth.

MARKET INSIGHTS

The North America electric vehicle market growth evaluation entails the study of Canada and United States. Approximately a quarter of greenhouse gas emissions (GHG) in Canada are attributed to transportation, with roughly half coming from light trucks, cars, etc. The Canadian government persists that switching to cleaner fuels. Further, electrifying light-duty vehicles are essential steps toward decarbonizing the transportation industry. For this reason, the Canadian government has mandated that by 2035, all new light-duty vehicles and passenger trucks must be emission-free.

The $680 million ZEVIP or Zero Emission Vehicle Infrastructure Program aims to improve Canada’s charging and refueling infrastructure shortage by 2027. Also, the Zero Emission Vehicle Awareness Initiative (ZEVAI) provides funding for initiatives that seek to raise public confidence and awareness of zero-emission cars (ZEV). The ZEVAI contributes to funding education, outreach, and capacity-building initiatives to facilitate a larger uptake of ZEVs by the citizens of Canada. Hence, the government’s emphasis on cleaner technology and adopting electric vehicles is expected to boost the market demand.

COMPETITIVE INSIGHTS

Some of the key companies include Ford Motor Company, General Motors Company, Tesla, etc.

Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation caters to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments