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Electric Vehicle Market to Contribute in the Auto Parts & Equipment Industry Growth| Technavio

NEW YORK, June 24, 2021 --

The electric vehicle (EV) market in the US is poised to grow by 1736.13 thousand units during 2021-2025, decelerating at a CAGR of almost 45% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.

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Impact of COVID-19

The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the electric vehicle (EV) market in the US.

Frequently Asked Questions:

  • Based on segmentation by Type, which is the leading segment in the market?
    Based on the type, the market generated maximum revenue in the All-electric/BEV segment in 2020.
  • What are the major trends in the market?
    Declining prices of lithium-ion batteries is the major trend in the market.
  • At what rate is the market projected to grow?
    The market is projected to grow at a CAGR of almost 45% during the forecast period.
  • Who are the top players in the market?
    BMW Group, Daimler AG, Ford Motor Co., General Motors Co., Honda Motor Co. Ltd., Hyundai Motor Co., Renault SA, Tesla Inc., Toyota Motor Corp., and Volkswagen AG are the top players in the market.

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Electric Vehicle (EV) Market in US 2021-2025: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The electric vehicle (EV) market in the US report covers the following areas:

  • Electric Vehicle (EV) Market in US Size
  • Electric Vehicle (EV) Market in US Trends
  • Electric Vehicle (EV) Market in US Industry Analysis

The market is concentrated, and the degree of concentration will decelerate during the forecast period.  Although government subsidies and incentives will offer immense growth opportunities, the high upfront cost of electric trucks is likely to pose a challenge for the market vendors. In a bid to help players strengthen their market foothold, this electric vehicle (EV) market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies. 

Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.

Electric Vehicle (EV) Market in US 2021-2025: Segmentation

Electric Vehicle (EV) Market in US is segmented as below:

  • Type
    • All-electric/BEV
    • PHEV

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Electric Vehicle (EV) Market in US 2021-2025: Key Highlights

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will assist the electric vehicle (EV) market growth in the US during the next five years
  • Estimation of the electric vehicle (EV) market size in the US and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the electric vehicle (EV) market across the US
  • Analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of the electric vehicle (EV) market vendors in the US

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Table of Contents:

Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2020
  • Market outlook: Forecast for 2020 - 2025

Five Forces Analysis

  • Five forces summary
  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Type

  • Market segments
  • Comparison by Type
  • All-electric/BEV - Market size and forecast 2020-2025
  • PHEV - Market size and forecast 2020-2025
  • Market opportunity by Type

Customer landscape

  • Customer Landscape
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • BMW Group
  • Daimler AG
  • Ford Motor Co.
  • General Motors Co.
  • Honda Motor Co. Ltd.
  • Hyundai Motor Co.
  • Renault SA
  • Tesla Inc.
  • Toyota Motor Corp.
  • Volkswagen AG


  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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