U.S. Electric Vehicle Market to 2032
Overview
The U.S. Electric Vehicle Market is expected to reach a 471,757.64 USD Billion by 2032 and is projected to grow at a CAGR of 34.80% from 2025 to 2032.
Revenue, 2024 (USD Billion)
88,105.25
Forecast, 2032 (USD Billion)
471,757.64
CAGR, 2024 - 2032
34.80%
Report Coverage
U.S.
U.S. Electric Vehicle Market 2018-2032 USD Billion
U.S. Electric Vehicle Market, Key Findings (2025-2032)
Market Growth and Projections:
- Market Size (2024): 88,105.25 USD Billion
- Projected Market Size (2032): 471,757.64 USD Billion
- CAGR (2025-2032): 34.80%
Key Findings of U.S. Electric Vehicle Market
- The U.S. Electric Vehicle Market was valued at 88,105.25 USD Billion in 2024.
- The U.S. Electric Vehicle Market is likely to grow at a CAGR of 34.80% during the forecast period of 2024 to 2032.
- In 2024, the Largest segment Mid-Priced in Class Segment accounted for the largest share of the market with a revenue of 59,145.65 USD Billion
- The fastest growing segment Hybrid Electric Vehicle(HEVs) in Propulsion Type Segment grew Fastest with a CAGR of 36.92% during the forecast period from 2024 to 2032.
U.S. Electric Vehicle Market Scope
U.S. Electric Vehicle Market Segmentation & Scope
Component
- Others
- Infotainment System
- On-board Charger
- Battery Cells & Packs
Vehicle Type
- Commercial Vehicles
- Two Wheelers
- Passenger Cars
Power Train
- Combined Hybrid
- Parallel Hybrid
- Series Hybrid
Class
- Luxury
- Mid-Priced
Charging Station Type
- Super Charging
- Normal Charging
Propulsion Type
- Fuel Cell Electric Vehicle(FCEVs)
- Hybrid Electric Vehicle(HEVs)
- Plug-in Hybrid Electric Vehicles (PHEVs)
- Battery Electric Vehicle (BEV)
U.S. Electric Vehicle Market Data Coverage Insights
| Study Period | 2024-2032 |
| Base Year | 2021 |
| Unit | Revenue in USD Billion |
| Market Value in 2024 | 88,105.25 USD Billion |
| Market Value in 2032 | 471,757.64 USD Billion |
| CAGR (2025-2032) | 34.80% |
| Historic Data | 2016-2023 |
| Market Segments Covered | Component,Vehicle Type,Power Train,Class,Charging Station Type,Propulsion Type |
Regional Insights:
-
Leading Market (2024-2032): U.S., leading in terms of revenue 88,105.25 USD Billion in 2024
- Key Country: U.S., leading in terms of revenue with value of 88,105.25 USD Billion in 2024.
Segments and Scope
-
U.S. Electric Vehicle Market to 2032, By Component
- Battery Cells & Packs is the largest segment in U.S. Electric Vehicle Market to 2032 with a revenue of 37,145.39 USD Billion in the year 2024.
- Battery Cells & Packs is the Fastest growing segment in U.S. Electric Vehicle Market to 2032 with a Growth rate of 36.20 % in forecast period 2025-2032.
-
U.S. Electric Vehicle Market to 2032, By Vehicle Type
- Passenger Cars is the largest segment in U.S. Electric Vehicle Market to 2032 with a revenue of 42,797.85 USD Billion in the year 2024.
- Passenger Cars is the Fastest growing segment in U.S. Electric Vehicle Market to 2032 with a Growth rate of 36.58 % in forecast period 2025-2032.
-
U.S. Electric Vehicle Market to 2032, By Power Train
- Series Hybrid is the largest segment in U.S. Electric Vehicle Market to 2032 with a revenue of 38,277.54 USD Billion in the year 2024.
- Combined Hybrid is the Fastest growing segment in U.S. Electric Vehicle Market to 2032 with a Growth rate of 33.23 % in forecast period 2025-2032.
-
U.S. Electric Vehicle Market to 2032, By Class
- Mid-Priced is the largest segment in U.S. Electric Vehicle Market to 2032 with a revenue of 59,145.65 USD Billion in the year 2024.
- Mid-Priced is the Fastest growing segment in U.S. Electric Vehicle Market to 2032 with a Growth rate of 34.99 % in forecast period 2025-2032.
-
U.S. Electric Vehicle Market to 2032, By Charging Station Type
- Normal Charging is the largest segment in U.S. Electric Vehicle Market to 2032 with a revenue of 55,350.74 USD Billion in the year 2024.
- Normal Charging is the Fastest growing segment in U.S. Electric Vehicle Market to 2032 with a Growth rate of 35.72 % in forecast period 2025-2032.
-
U.S. Electric Vehicle Market to 2032, By Propulsion Type
- Battery Electric Vehicle (BEV) is the largest segment in U.S. Electric Vehicle Market to 2032 with a revenue of 40,925.89 USD Billion in the year 2024.
- Hybrid Electric Vehicle(HEVs) is the Fastest growing segment in U.S. Electric Vehicle Market to 2032 with a Growth rate of 35.18 % in forecast period 2025-2032.
U.S. Electric Vehicle Market Company Share Analysis
| Company Name |
|
||
| Ford Motor Company | |||
| Tesla | |||
| General Motors | |||
| Nissan Motor Co., Ltd. | |||
| TOYOTA MOTOR CORPORATION | |||
U.S. Electric Vehicle Market Geographical Sales Distribution, 2018-2032 USD Billion
U.S. Electric Vehicle Market Company Profiling
Industry Related Reports
Frequently Asked Questions
The U.S. Electric Vehicle Market is segmented based on Segmentation Component,Vehicle Type,Power Train,Class,Charging Station Type,Propulsion Type.
U.S. Electric Vehicle Market was valued at USD 88,105.25(Revenue in USD Billion) in 2021.
U.S. Electric Vehicle Market is projected to grow at a CAGR of 34.80% during the forecast period of 2024 to 2032.
The Mid-Priced segment is expected to dominate the U.S. Electric Vehicle Market, holding a largest market share of 59,145.65 USD Billion in 2024
U.S. Electric Vehicle Market Scope
U.S. Electric Vehicle Market Segmentation & Scope
Component
- Others
- Infotainment System
- On-board Charger
- Battery Cells & Packs
Vehicle Type
- Commercial Vehicles
- Two Wheelers
- Passenger Cars
Power Train
- Combined Hybrid
- Parallel Hybrid
- Series Hybrid
Class
- Luxury
- Mid-Priced
Charging Station Type
- Super Charging
- Normal Charging
Propulsion Type
- Fuel Cell Electric Vehicle(FCEVs)
- Hybrid Electric Vehicle(HEVs)
- Plug-in Hybrid Electric Vehicles (PHEVs)
- Battery Electric Vehicle (BEV)
Frequently Asked Questions
The U.S. Electric Vehicle Market is segmented based on Segmentation Component,Vehicle Type,Power Train,Class,Charging Station Type,Propulsion Type.
U.S. Electric Vehicle Market was valued at USD 88,105.25(Revenue in USD Billion) in 2021.
U.S. Electric Vehicle Market is projected to grow at a CAGR of 34.80% during the forecast period of 2024 to 2032.
The estimated market value of the U.S. Electric Vehicle Market for final year is USD 471,757.64 (USD Billion).
U.S. Electric Vehicle Market Company Profiling
Frequently Asked Questions
The U.S. Electric Vehicle Market is segmented based on Segmentation Component,Vehicle Type,Power Train,Class,Charging Station Type,Propulsion Type.
U.S. Electric Vehicle Market was valued at USD 88,105.25(Revenue in USD Billion) in 2021.
U.S. Electric Vehicle Market is projected to grow at a CAGR of 34.80% during the forecast period of 2024 to 2032.
The estimated market value of the U.S. Electric Vehicle Market for final year is USD 471,757.64 (USD Billion).
HAVE A QUESTION?
Get expert advice on the right strategy for your business at no cost. We also offer customized subscription plans and affordable discounts for startups and universities.