North America Electric Vehicle Market Size & Outlook
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North America electric vehicle market highlights
- The North America electric vehicle market generated a revenue of USD 124,941.7 million in 2024.
- The market is expected to grow at a CAGR of 31.1% from 2025 to 2030.
- In terms of segment, passenger cars was the largest revenue generating vehicle type in 2024.
- Passenger Cars is the most lucrative vehicle type segment registering the fastest growth during the forecast period.
- Country-wise, U.S. is expected to register the highest CAGR from 2025 to 2030.
North America data book summary
| Market revenue in 2024 | USD 124,941.7 million |
| Market revenue in 2030 | USD 632,915.0 million |
| Growth rate | 31.1% (CAGR from 2025 to 2030) |
| Largest segment | Passenger cars |
| Fastest growing segment | Passenger Cars |
| Historical data covered | 2018 - 2023 |
| Base year for estimation | 2024 |
| Forecast period covered | 2025 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Scooter, Motorcycle, Three Wheeler, Passenger Cars, Bus, Trucks |
Other key industry trends
- In terms of revenue, North America region accounted for 9.4% of the global electric vehicle market in 2024.
- Globally, Europe is projected to lead the regional market in terms of revenue in 2030.
- MEA is the fastest growing regional market and is projected to reach USD 52,243.3 million by 2030.
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Electric Vehicle Market Scope
Electric Vehicle Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Renault Group | View profile | 10001+ | Boulogne-billancourt, Ile-de-France, France, Europe | https://www.renaultgroup.com |
| Mitsubishi Motors | View profile | 10001+ | Tokyo, Tokyo, Japan, Asia | http://www.mitsubishi-motors.com |
| Kawasaki Motors Corp., U.S.A. | View profile | 251-500 | Santa Ana, California, United States, North America | https://www.kawasaki.com |
| Volkswagen Group | View profile | 10001+ | Wolfsburg, Niedersachsen, Germany, Europe | https://www.volkswagen-group.com/en |
| BYD Company | View profile | 10001+ | Shenzhen, Guangdong, China, Asia | https://en.byd.com |
| Nissan Motor Co Ltd | View profile | 147116 | 1-1, Takashima 1-chome, Nishi-ku, Yokohama-shi, Kanagawa, Japan, 220-8686 | http://www.nissan-global.com |
| Ford Motor Co | View profile | 177000 | One American Road, Dearborn, MI, United States, 48126 | https://www.ford.com |
| Mercedes-Benz Group AG | View profile | 166056 | Mercedesstrasse 120, Stuttgart, BW, Germany, 70372 | https://www.daimler.com |
| Honda Motor Co Ltd | View profile | 194993 | Number 1-1, Minami-Aoyama 2-chome, Minato-ku, Tokyo, Japan, 107-8556 | https://global.honda |
| General Motors Co | View profile | 163000 | 300 Renaissance Center, Detroit, MI, United States, 48265-3000 | https://www.gm.com |
| Tesla Inc | View profile | 140473 | 1 Tesla Road, Austin, TX, United States, 78725 | https://www.tesla.com |
| Toyota Motor Corp | View profile | 380793 | 1 Toyota-cho, Aichi Prefecture, Toyota, Japan, 471-8571 | https://www.global.toyota |
North America electric vehicle market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to electric vehicle market will help companies and investors design strategic landscapes.
Passenger cars was the largest segment with a revenue share of 96.11% in 2024. Horizon Databook has segmented the North America electric vehicle market based on scooter, motorcycle, three wheeler, passenger cars, bus, trucks covering the revenue growth of each sub-segment from 2018 to 2030.
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Target buyers of North America electric vehicle market databook
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Our clientele includes a mix of electric vehicle market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the North America electric vehicle market , including forecasts for subscribers. This continent databook contains high-level insights into North America electric vehicle market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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North America electric vehicle market size, by country, 2018-2030 (US$M)
North America Electric Vehicle Market Outlook Share, 2024 & 2030 (US$M)
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