The North America Light Electric Vehicles Market would witness market growth of 8.3% CAGR during the forecast period (2022-2028).
EVs have experienced a comeback in the 21st century due to technology advancements, a greater emphasis on renewable energy, and the possible reduction of transportation's influence on climate change, pollution, and other environmental issues. Project Drawdown identifies electric vehicles as one of the 100 most effective modern approaches to combating climate change.
The majority of electric vehicles are powered by lithium-ion batteries (Li-Ions or LIBs). Lithium-ion batteries have a better energy density, a longer lifespan, and a higher power density than the majority of other commercially available batteries. Safety, longevity, thermal breakdown, environmental impact, and cost are complicating factors.
Li-ion batteries must be utilized within the safe temperature and voltage ranges for optimal performance. Increasing the battery's lifespan reduces operational expenses. Operating a subset of the battery cells at a time and swapping these subsets is one method. In the past, some electric cars, such as those manufactured by General Motors, utilized nickel–metal hydride batteries. These battery types are deemed obsolete because they tend to self-discharge in high temperatures.
The government is taking numerous measures to combat climate change, expand access to renewable energy options, and reduce the United States' dependency on oil. Today, the Administration unveiled a range of extraordinary efforts from the federal government, the business sector, and the states for 2016. These initiatives include a new framework for automakers, electric car charging firms, electric utilities, and states to collaborate to expedite the development of electric vehicle charging infrastructure.
The US market dominated the North America Light Electric Vehicles Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $22,624.8 million by 2028. The Canada market is poised to grow at a CAGR of 10.8% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 9.8% during (2022 - 2028).
Based on Vehicle Category, the market is segmented into 2-wheelers, 3-wheelers, and 4-wheelers. Based on Vehicle Type, the market is segmented into e-scooter, e-ATV/UTV, Neighborhood Electric Vehicle, e-bike & Motorcycle, e-lawn Mower, Autonomous Forklifts, Delivery Robots & Electric Industrial Vehicle, and Others. Based on Component Type, the market is segmented into Battery Pack, Electric Motor, Motor Controller & Power Controller, Inverters, and e-brake Booster & Power Electronics. Based on Application, the market is segmented into Personal Mobility, Shared Mobility, Recreation & Sports, and Commercial. Based on Power Output, the market is segmented into Less than 6 kW, 6-9 kW, and 9-15 kW. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Light Electric Vehicles Market is Estimated to reach $130.4 Billion by 2028, at a CAGR of 8.9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Tesla, Inc., BMW Group, Columbia Vehicle Group Inc. (Nordic Group of Companies, Ltd.), Godrej Group (Godrej Material Handling), Kion Group, Yamaha Motor Co., Ltd., Textron, Inc., Polaris, Inc., BYD Company Ltd., and Toyota Industries Corporation.
Scope of the Study
Market Segments Covered in the Report:
By Vehicle Category
- 2-wheelers
- 3-wheelers
- 4-wheelers
By Vehicle Type
- e-scooter
- e-ATV/UTV
- Neighborhood Electric Vehicle
- e-bike & Motorcycle
- e-lawn Mower
- Autonomous Forklifts, Delivery Robots & Electric Industrial Vehicle
- Others
By Component Type
- Battery Pack
- Electric Motor
- Motor Controller & Power Controller
- Inverters
- e-brake Booster & Power Electronics
By Application
- Personal Mobility
- Shared Mobility
- Recreation & Sports
- Commercial
By Power Output
- Less than 6 kW
- 6-9 kW
- 9-15 kW
By Country
- US
- Canada
- Mexico
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Tesla, Inc.
- BMW Group
- Columbia Vehicle Group Inc. (Nordic Group of Companies, Ltd.)
- Godrej Group (Godrej Material Handling)
- Kion Group
- Yamaha Motor Co., Ltd.
- Textron, Inc.
- Polaris, Inc.
- BYD Company Ltd.
- Toyota Industries Corporation
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Light Electric Vehicles Market, by Vehicle Category
1.4.2 North America Light Electric Vehicles Market, by Vehicle Type
1.4.3 North America Light Electric Vehicles Market, by Component Type
1.4.4 North America Light Electric Vehicles Market, by Application
1.4.5 North America Light Electric Vehicles Market, by Power Output
1.4.6 North America Light Electric Vehicles Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition & Scenarios
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 KBV Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2018-2022)
3.3.2 Key Strategic Move: (Partnerships, Collaborations & Agreements: 2020, Sep – 2022, Aug) Leading Players
Chapter 4. North America Light Electric Vehicles Market by Vehicle Category
4.1 North America 2-wheelers Market by Country
4.2 North America 3-wheelers Market by Country
4.3 North America 4-wheelers Market by Country
Chapter 5. North America Light Electric Vehicles Market by Vehicle Type
5.1 North America e-scooter Market by Country
5.2 North America e-ATV/UTV Market by Country
5.3 North America Neighborhood Electric Vehicle Market by Country
5.4 North America e-bike & Motorcycle Market by Country
5.5 North America e-lawn Mower Market by Country
5.6 North America Autonomous Forklifts, Delivery Robots & Electric Industrial Vehicle Market by Country
5.7 North America Others Market by Country
Chapter 6. North America Light Electric Vehicles Market by Component Type
6.1 North America Battery Pack Market by Country
6.2 North America Electric Motor Market by Country
6.3 North America Motor Controller & Power Controller Market by Country
6.4 North America Inverters Market by Country
6.5 North America e-brake Booster & Power Electronics Market by Country
Chapter 7. North America Light Electric Vehicles Market by Application
7.1 North America Personal Mobility Market by Country
7.2 North America Shared Mobility Market by Country
7.3 North America Recreation & Sports Market by Country
7.4 North America Commercial Market by Country
Chapter 8. North America Light Electric Vehicles Market by Power Output
8.1 North America Less than 6 kW Market by Country
8.2 North America 6-9 kW Market by Country
8.3 North America 9-15 kW Market by Country
Chapter 9. North America Light Electric Vehicles Market by Country
9.1 US Light Electric Vehicles Market
9.1.1 US Light Electric Vehicles Market by Vehicle Category
9.1.2 US Light Electric Vehicles Market by Vehicle Type
9.1.3 US Light Electric Vehicles Market by Component Type
9.1.4 US Light Electric Vehicles Market by Application
9.1.5 US Light Electric Vehicles Market by Power Output
9.2 Canada Light Electric Vehicles Market
9.2.1 Canada Light Electric Vehicles Market by Vehicle Category
9.2.2 Canada Light Electric Vehicles Market by Vehicle Type
9.2.3 Canada Light Electric Vehicles Market by Component Type
9.2.4 Canada Light Electric Vehicles Market by Application
9.2.5 Canada Light Electric Vehicles Market by Power Output
9.3 Mexico Light Electric Vehicles Market
9.3.1 Mexico Light Electric Vehicles Market by Vehicle Category
9.3.2 Mexico Light Electric Vehicles Market by Vehicle Type
9.3.3 Mexico Light Electric Vehicles Market by Component Type
9.3.4 Mexico Light Electric Vehicles Market by Application
9.3.5 Mexico Light Electric Vehicles Market by Power Output
9.4 Rest of North America Light Electric Vehicles Market
9.4.1 Rest of North America Light Electric Vehicles Market by Vehicle Category
9.4.2 Rest of North America Light Electric Vehicles Market by Vehicle Type
9.4.3 Rest of North America Light Electric Vehicles Market by Component Type
9.4.4 Rest of North America Light Electric Vehicles Market by Application
9.4.5 Rest of North America Light Electric Vehicles Market by Power Output
Chapter 10. Company Profiles
10.1 Tesla, Inc.
10.1.1 Company Overview
10.1.2 Financial Analysis
10.1.3 Segmental and Regional Analysis
10.1.4 Research & Development Expense
10.1.5 Recent strategies and developments:
10.1.5.1 Partnerships, Collaborations, and Agreements:
10.1.6 SWOT Analysis
10.2 BMW Group
10.2.1 Company Overview
10.2.2 Financial Analysis
10.2.3 Segmental and Regional Analysis
10.2.4 Regional analysis
10.2.5 Research & Development Expense
10.2.6 Recent strategies and developments:
10.2.6.1 Partnerships, Collaborations, and Agreements:
10.2.6.2 Product Launches and Product Expansions:
10.2.7 SWOT Analysis
10.3 Columbia Vehicle Group Inc. (Nordic Group of Companies, Ltd.)
10.3.1 Company Overview
10.3.2 Financial Analysis
10.3.3 Segmental and Regional Analysis
10.4 Godrej Group (Godrej Material Handling)
10.4.1 Company Overview
10.4.2 Financial Analysis
10.4.3 Regional Analysis
10.4.4 Research & Development Expense
10.5 Kion Group
10.5.1 Company Overview
10.5.2 Financial Analysis
10.5.3 Segmental Analysis
10.5.4 Research & Development Expense
10.6 Yamaha Motor Co., Ltd.
10.6.1 Company Overview
10.6.2 Financial Analysis
10.6.3 Segmental and Regional Analysis
10.6.4 Research & Development Expense
10.6.5 Recent strategies and developments:
10.6.5.1 Partnerships, Collaborations, and Agreements:
10.6.5.2 Product Launches and Product Expansions:
10.7 Textron, Inc.
10.7.1 Company Overview
10.7.2 Financial Analysis
10.7.3 Regional & Segmental Analysis
10.7.4 Research & Development Expenses
10.7.5 Recent strategies and developments:
10.7.5.1 Partnerships, Collaborations, and Agreements:
10.8 Polaris, Inc.
10.8.1 Company Overview
10.8.2 Financial Analysis
10.8.3 Regional & Segmental Analysis
10.8.4 Research & Development Expenses
10.8.5 Recent strategies and developments:
10.8.5.1 Partnerships, Collaborations, and Agreements:
10.8.5.2 Product Launches and Product Expansions:
10.9 BYD Company Ltd.
10.9.1 Company Overview
10.9.2 Financial Analysis
10.9.3 Regional Analysis
10.9.4 Research & Development Expense
10.9.5 Recent strategies and developments:
10.9.5.1 Partnerships, Collaborations, and Agreements:
10.9.5.2 Product Launches and Product Expansions:
10.10. Toyota Industries Corporation
10.10.1 Company Overview
10.10.2 Financial Analysis
10.10.3 Segmental Analysis
10.10.4 Research & Development Expense
10.10.5 Recent strategies and developments:
10.10.5.1 Partnerships, Collaborations, and Agreements:
10.10.5.2 Product Launches and Product Expansions:
TABLE 1 North America Light Electric Vehicles Market, 2018 - 2021, USD Million
TABLE 2 North America Light Electric Vehicles Market, 2022 - 2028, USD Million
TABLE 3 Partnerships, Collaborations and Agreements– Light Electric Vehicles Market
TABLE 4 Product Launches And Product Expansions– Light Electric Vehicles Market
TABLE 5 North America Light Electric Vehicles Market by Vehicle Category, 2018 - 2021, USD Million
TABLE 6 North America Light Electric Vehicles Market by Vehicle Category, 2022 - 2028, USD Million
TABLE 7 North America 2-wheelers Market by Country, 2018 - 2021, USD Million
TABLE 8 North America 2-wheelers Market by Country, 2022 - 2028, USD Million
TABLE 9 North America 3-wheelers Market by Country, 2018 - 2021, USD Million
TABLE 10 North America 3-wheelers Market by Country, 2022 - 2028, USD Million
TABLE 11 North America 4-wheelers Market by Country, 2018 - 2021, USD Million
TABLE 12 North America 4-wheelers Market by Country, 2022 - 2028, USD Million
TABLE 13 North America Light Electric Vehicles Market by Vehicle Type, 2018 - 2021, USD Million
TABLE 14 North America Light Electric Vehicles Market by Vehicle Type, 2022 - 2028, USD Million
TABLE 15 North America e-scooter Market by Country, 2018 - 2021, USD Million
TABLE 16 North America e-scooter Market by Country, 2022 - 2028, USD Million
TABLE 17 North America e-ATV/UTV Market by Country, 2018 - 2021, USD Million
TABLE 18 North America e-ATV/UTV Market by Country, 2022 - 2028, USD Million
TABLE 19 North America Neighborhood Electric Vehicle Market by Country, 2018 - 2021, USD Million
TABLE 20 North America Neighborhood Electric Vehicle Market by Country, 2022 - 2028, USD Million
TABLE 21 North America e-bike & Motorcycle Market by Country, 2018 - 2021, USD Million
TABLE 22 North America e-bike & Motorcycle Market by Country, 2022 - 2028, USD Million
TABLE 23 North America e-lawn Mower Market by Country, 2018 - 2021, USD Million
TABLE 24 North America e-lawn Mower Market by Country, 2022 - 2028, USD Million
TABLE 25 North America Autonomous Forklifts, Delivery Robots & Electric Industrial Vehicle Market by Country, 2018 - 2021, USD Million
TABLE 26 North America Autonomous Forklifts, Delivery Robots & Electric Industrial Vehicle Market by Country, 2022 - 2028, USD Million
TABLE 27 North America Others Market by Country, 2018 - 2021, USD Million
TABLE 28 North America Others Market by Country, 2022 - 2028, USD Million
TABLE 29 North America Light Electric Vehicles Market by Component Type, 2018 - 2021, USD Million
TABLE 30 North America Light Electric Vehicles Market by Component Type, 2022 - 2028, USD Million
TABLE 31 North America Battery Pack Market by Country, 2018 - 2021, USD Million
TABLE 32 North America Battery Pack Market by Country, 2022 - 2028, USD Million
TABLE 33 North America Electric Motor Market by Country, 2018 - 2021, USD Million
TABLE 34 North America Electric Motor Market by Country, 2022 - 2028, USD Million
TABLE 35 North America Motor Controller & Power Controller Market by Country, 2018 - 2021, USD Million
TABLE 36 North America Motor Controller & Power Controller Market by Country, 2022 - 2028, USD Million
TABLE 37 North America Inverters Market by Country, 2018 - 2021, USD Million
TABLE 38 North America Inverters Market by Country, 2022 - 2028, USD Million
TABLE 39 North America e-brake Booster & Power Electronics Market by Country, 2018 - 2021, USD Million
TABLE 40 North America e-brake Booster & Power Electronics Market by Country, 2022 - 2028, USD Million
TABLE 41 North America Light Electric Vehicles Market by Application, 2018 - 2021, USD Million
TABLE 42 North America Light Electric Vehicles Market by Application, 2022 - 2028, USD Million
TABLE 43 North America Personal Mobility Market by Country, 2018 - 2021, USD Million
TABLE 44 North America Personal Mobility Market by Country, 2022 - 2028, USD Million
TABLE 45 North America Shared Mobility Market by Country, 2018 - 2021, USD Million
TABLE 46 North America Shared Mobility Market by Country, 2022 - 2028, USD Million
TABLE 47 North America Recreation & Sports Market by Country, 2018 - 2021, USD Million
TABLE 48 North America Recreation & Sports Market by Country, 2022 - 2028, USD Million
TABLE 49 North America Commercial Market by Country, 2018 - 2021, USD Million
TABLE 50 North America Commercial Market by Country, 2022 - 2028, USD Million
TABLE 51 North America Light Electric Vehicles Market by Power Output, 2018 - 2021, USD Million
TABLE 52 North America Light Electric Vehicles Market by Power Output, 2022 - 2028, USD Million
TABLE 53 North America Less than 6 kW Market by Country, 2018 - 2021, USD Million
TABLE 54 North America Less than 6 kW Market by Country, 2022 - 2028, USD Million
TABLE 55 North America 6-9 kW Market by Country, 2018 - 2021, USD Million
TABLE 56 North America 6-9 kW Market by Country, 2022 - 2028, USD Million
TABLE 57 North America 9-15 kW Market by Country, 2018 - 2021, USD Million
TABLE 58 North America 9-15 kW Market by Country, 2022 - 2028, USD Million
TABLE 59 North America Light Electric Vehicles Market by Country, 2018 - 2021, USD Million
TABLE 60 North America Light Electric Vehicles Market by Country, 2022 - 2028, USD Million
TABLE 61 US Light Electric Vehicles Market, 2018 - 2021, USD Million
TABLE 62 US Light Electric Vehicles Market, 2022 - 2028, USD Million
TABLE 63 US Light Electric Vehicles Market by Vehicle Category, 2018 - 2021, USD Million
TABLE 64 US Light Electric Vehicles Market by Vehicle Category, 2022 - 2028, USD Million
TABLE 65 US Light Electric Vehicles Market by Vehicle Type, 2018 - 2021, USD Million
TABLE 66 US Light Electric Vehicles Market by Vehicle Type, 2022 - 2028, USD Million
TABLE 67 US Light Electric Vehicles Market by Component Type, 2018 - 2021, USD Million
TABLE 68 US Light Electric Vehicles Market by Component Type, 2022 - 2028, USD Million
TABLE 69 US Light Electric Vehicles Market by Application, 2018 - 2021, USD Million
TABLE 70 US Light Electric Vehicles Market by Application, 2022 - 2028, USD Million
TABLE 71 US Light Electric Vehicles Market by Power Output, 2018 - 2021, USD Million
TABLE 72 US Light Electric Vehicles Market by Power Output, 2022 - 2028, USD Million
TABLE 73 Canada Light Electric Vehicles Market, 2018 - 2021, USD Million
TABLE 74 Canada Light Electric Vehicles Market, 2022 - 2028, USD Million
TABLE 75 Canada Light Electric Vehicles Market by Vehicle Category, 2018 - 2021, USD Million
TABLE 76 Canada Light Electric Vehicles Market by Vehicle Category, 2022 - 2028, USD Million
TABLE 77 Canada Light Electric Vehicles Market by Vehicle Type, 2018 - 2021, USD Million
TABLE 78 Canada Light Electric Vehicles Market by Vehicle Type, 2022 - 2028, USD Million
TABLE 79 Canada Light Electric Vehicles Market by Component Type, 2018 - 2021, USD Million
TABLE 80 Canada Light Electric Vehicles Market by Component Type, 2022 - 2028, USD Million
TABLE 81 Canada Light Electric Vehicles Market by Application, 2018 - 2021, USD Million
TABLE 82 Canada Light Electric Vehicles Market by Application, 2022 - 2028, USD Million
TABLE 83 Canada Light Electric Vehicles Market by Power Output, 2018 - 2021, USD Million
TABLE 84 Canada Light Electric Vehicles Market by Power Output, 2022 - 2028, USD Million
TABLE 85 Mexico Light Electric Vehicles Market, 2018 - 2021, USD Million
TABLE 86 Mexico Light Electric Vehicles Market, 2022 - 2028, USD Million
TABLE 87 Mexico Light Electric Vehicles Market by Vehicle Category, 2018 - 2021, USD Million
TABLE 88 Mexico Light Electric Vehicles Market by Vehicle Category, 2022 - 2028, USD Million
TABLE 89 Mexico Light Electric Vehicles Market by Vehicle Type, 2018 - 2021, USD Million
TABLE 90 Mexico Light Electric Vehicles Market by Vehicle Type, 2022 - 2028, USD Million
TABLE 91 Mexico Light Electric Vehicles Market by Component Type, 2018 - 2021, USD Million
TABLE 92 Mexico Light Electric Vehicles Market by Component Type, 2022 - 2028, USD Million
TABLE 93 Mexico Light Electric Vehicles Market by Application, 2018 - 2021, USD Million
TABLE 94 Mexico Light Electric Vehicles Market by Application, 2022 - 2028, USD Million
TABLE 95 Mexico Light Electric Vehicles Market by Power Output, 2018 - 2021, USD Million
TABLE 96 Mexico Light Electric Vehicles Market by Power Output, 2022 - 2028, USD Million
TABLE 97 Rest of North America Light Electric Vehicles Market, 2018 - 2021, USD Million
TABLE 98 Rest of North America Light Electric Vehicles Market, 2022 - 2028, USD Million
TABLE 99 Rest of North America Light Electric Vehicles Market by Vehicle Category, 2018 - 2021, USD Million
TABLE 100 Rest of North America Light Electric Vehicles Market by Vehicle Category, 2022 - 2028, USD Million
TABLE 101 Rest of North America Light Electric Vehicles Market by Vehicle Type, 2018 - 2021, USD Million
TABLE 102 Rest of North America Light Electric Vehicles Market by Vehicle Type, 2022 - 2028, USD Million
TABLE 103 Rest of North America Light Electric Vehicles Market by Component Type, 2018 - 2021, USD Million
TABLE 104 Rest of North America Light Electric Vehicles Market by Component Type, 2022 - 2028, USD Million
TABLE 105 Rest of North America Light Electric Vehicles Market by Application, 2018 - 2021, USD Million
TABLE 106 Rest of North America Light Electric Vehicles Market by Application, 2022 - 2028, USD Million
TABLE 107 Rest of North America Light Electric Vehicles Market by Power Output, 2018 - 2021, USD Million
TABLE 108 Rest of North America Light Electric Vehicles Market by Power Output, 2022 - 2028, USD Million
TABLE 109 key Information – Tesla, Inc.
TABLE 110 key information – BMW Group
TABLE 111 Key Information – Columbia Vehicle Group Inc.
TABLE 112 Key Information – Godrej Group
TABLE 113 Key Information – Kion Group
TABLE 114 Key Information – Yamaha Motor Co., Ltd.
TABLE 115 Key information – Textron, Inc.
TABLE 116 Key information – Polaris, Inc.
TABLE 117 key Information – BYD Company Ltd.
TABLE 118 Key Information – Toyota Industries Corporation
List of Figures
FIG 1 Methodology for the research
FIG 2 KBV Cardinal Matrix
FIG 3 Key Leading Strategies: Percentage Distribution (2018-2022)
FIG 4 Key Strategic Move: (Partnerships, Collaborations & Agreements: 2020, Sep – 2022, Aug) Leading Players
FIG 5 SWOT ANALYSIS: TESLA, INC.
FIG 6 Recent strategies and developments: BMW Group
FIG 7 SWOT ANALYSIS: BMW GROUP
FIG 8 Recent strategies and developments: Yamaha Motor Co., Ltd.
FIG 9 Recent strategies and developments: Polaris, Inc.
FIG 10 Recent strategies and developments: BYD Company Ltd.
FIG 11 Recent strategies and developments: Toyota Industries Corporation