U.S. Electric Mobility Market Size Worth $119.8 Billion By 2028

U.S. Electric Mobility Market Growth & Trends

The U.S. electric mobility market size is expected to reach USD 119.8 billion by 2028, expanding at a CAGR of 19.8% over the forecast period, as per the study conducted by Grand View Research, Inc. Surge in the adoption of electric vehicles, especially e-scooters among the youth, quick urbanization, and increasing purchasing capacity in the country are expected to significantly increase the demand for electric mobility in the U.S., thereby supporting the market growth. Furthermore, growing concerns about the rapidly rising carbon footprint and greenhouse gases from the transportation and automotive industries are encouraging state and country-level regulatory bodies to set up policies that promote the adoption of energy-efficient vehicles.

An increasing number of governments are setting regulations, objectives, and policies for electric vehicle deployment, signaling OEMs and other industry stakeholders to actively participate in the industry, and building confidence based on mobilizing investments and policy frameworks. For instance, the Alliance for Zero Emission Vehicle (ZEV), including the European region and its countries, Canadian provinces, and several states in the U.S., has announced that it will strive to make all passenger vehicle sales in the jurisdiction of the member countries and states ZEVs by 2050.

The increasing spread of the COVID-19 pandemic has resulted in a global economic slowdown. Lockdowns and restrictions implemented in various parts of the world to reduce the spread of the virus led to temporary termination of multiple production facilities and disruption in various supply chain activities in North America during the first half of 2020. However, with the ease of lockdown restrictions and a significant economic revival, the electric mobility market in the U.S. is expected to witness growth over the forecast period.

Some of the dominant players in the market are Accell Group, Airwheel Holding Limited, Derby Cycle, HARLEY-DAVIDSON, Honda Motor Co. Ltd., Invacare Corporation, Lohia Auto Industries, and Ninebot Ltd. These players focus on new product launches and partnerships and collaboration to enhance their offerings and geographic presence. For instance, in January 2021, Ninebot Ltd. announced a new e-scooter, Ninebot S Max, with steering wheels. It includes hand control steering wheels and a display unit. The built-in display helps riders monitor the scooter's speed in real-time.

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U.S. Electric Mobility Market Report Highlights

• Based on product, the electric car segment is expected to dominate the market owing to significant demand among the youth and elderly population

• Based on voltage, the 24V segment dominated the market with a 37.9% revenue share in 2020

• Based on battery, the sealed lead acid segment accounted for 23.6% market share in 2020. However, the Li-Ion battery segment is anticipated to expand at a CAGR of 20.9% over the forecast period

• Prominent industry participants include Accell Group, Airwheel Holding Limited, Derby Cycle, HARLEY-DAVIDSON, and Honda Motor Co. Ltd.

U.S. Electric Mobility Market Segmentation

Grand View Research has segmented the U.S. electric mobility market based on product, battery, and voltage:

U.S. Electric Mobility Product Outlook (Revenue, USD Million, 2018 - 2028)

• Electric Scooter

• Electric Bicycle

• Electric Skateboard

• Electric Motorcycle

• Electric Car

• Electric Wheelchair

U.S. Electric Mobility by Product Outlook (Revenue, USD Million, 2018 - 2028)

• Retro

• Standing/Self-Balancing

• Folding

U.S. Electric Mobility Battery Outlook (Revenue, USD Million, 2018 - 2028)

• Sealed Lead Acid

• NiMH

• Li-ion

U.S. Electric Mobility Voltage Outlook (Revenue, USD Million, 2018 - 2028)

• 24V

• 36V

• 48V

• Greater than 48V

List of Key Players of U.S. Electric Mobility Market

• Accell Group

• Airwheel Holding Limited

• Derby Cycle

• HARLEY-DAVIDSON

• Honda Motor Co. Ltd.

• Invacare Corporation

• Lohia Auto Industries

• Ninebot Ltd.