North America Automotive High Performance Electric Vehicle Market size was valued US$ XX Mn in 2019 and the total revenue is expected to grow at XX% through 2020 to 2027, reaching US$ XX Mn.
North America Automotive High Performance Electric Vehicle Market
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North America Automotive High Performance Electric Vehicle Market:
Increasing awareness about CO2 emissions, lower operating & maintenance costs, along with increasing government initiatives to encourage the use of EVs, are some of the Key reasons aiding in driving the growth of high-performance EVs market. North-America is leading the global market in the manufacture of these vehicles.
After the increase in energy conservation awareness around the globe, the US Congress established minimum-efficiency levels for electric motors in their 1992 Energy Policy Act (EP Act). In 2007, the Energy Independence & Security Act (EISA) was made into a law. The National Electrical Manufacturers Association (NEMA) took initiative in providing EISA with improved motor efficiency levels. As a result, new motor efficiency regulations were made for general-purpose electric motors.
Automotive High Performance Electric Vehicle can be distinguished from other electric vehicle on aspects, containing longer range of distance i.e., over 150 miles in a single charge, high acceleration, & their ability to attain a speed of over 90 miles/ hour with faster acceleration of 0 to 60 miles/hour. However purely electric vehicles have some limitations, usually counting with lower range & higher weight.
The demand for long-range Evs has been increasing in the North American region owing to the unavailability of charging station for passengers traveling on highways in remote areas. Manufacturers have focused on improving the range of their products by growing battery capacities. As the US is the potential market for High-Performance EVs, high energy Li-ion batteries & advanced powertrain parts contribute a Key role in propelling this market towards the north. The Key players of United States are GM, Tesla, & Chevrolet. US is taking up the production of electric motors for the latest Tesla models. The Gigafactory is still under construction, & Tesla starts producing high-performance lithium-ion batteries & electric motors through it.
The Energy Improvement & Extension Act of 2008 also allowed tax credits for new plug-in electric drive motor vehicles. Most states in the United States also have extra incentives for EV owners. Market leader in electric vehicle charging have announced a USD 20 Mn commitment toward the deployment of community charging & a nation-wide network of high-speed charging stations. Initiatives, Like the Hawaii clean energy program & Richmond EVs program, are expected to increase the electric vehicle adoption rates in the country. The Northeast EV Network, which was started in 2011 is anticipated to boost the adoption of electric vehicle in Maryland, Delaware, Massachusetts, New Hampshire, New York, New Jersey, Vermont, Rhode Island, Connecticut, and communities in Maine.
The objective of the report is to present a comprehensive analysis of the North America Automotive High Performance Electric Vehicle Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding North America Automotive High Performance Electric Vehicle Market dynamics, structure by analyzing the market segments and project the North America Automotive High Performance Electric Vehicle Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the North America Automotive High Performance Electric Vehicle Market make the report investor’s guide.
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North America Automotive High Performance Electric Vehicle Market, By Drive Type
• Plug-in Hybrid
• Pure Electric
North America Automotive High Performance Electric Vehicle Market, By Vehicle Type
• Passenger Car
• Commercial Vehicle
North America Automotive High Performance Electric Vehicle Market Key Players
• Daimler (Mercedes-Benz)
• General Motors
• Ford Motor Company
• Tesla Inc.
• Hyundai Motors
• Volkswagen AG
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