The report provides a comprehensive analysis of the potential of EV & EV Charging Equipment Market in USA. The report covers an overview and genesis of the industry, market size in terms of revenue generated.

Its market segmentations include by types of EV, by end-use, by type, by technology, by battery type, by battery capacity, by voltage type, by vehicle class of EV, by EV propulsion, by type of charger, by application, by distribution channels, by source of manufacturing, by type of application and by major region; growth enablers and drivers; challenges and bottlenecks; trends driving adoption trends; regulatory framework; end-user analysis, industry analysis, competitive landscape including competition scenario and market shares of major players. The report concludes with future market projections of each market segmentation and analyst recommendations.

Market Overview:

According to Report Ocean estimates, the Market Size of USA EV & EV Charging Equipment has shown increasing trend from 2017 to 2022. The EV market faced the brunt due the COVID-19 outbreak. Lockdown resulted in the temporary closure of manufacturing plants & other businesses that have negatively affected the sales of electric two wheelers leading to flatter growth in 2020. Also, the public and private charging stations have been expanding at a rapid rate in the recent years.
The US consumer being generally wealthy with a higher GDP per capita will prefer a four-wheeler over two-wheelers.
people's inclination towards EVs and government effort towards setting up the requisite infrastructure will promote Electric Vehicles across the country.
Higher income states like California have higher concentration of Electric Vehicle Charging Infrastructure owing to high number of Electric Vehicles.

Key Trends by Market Segment:

By Type of EV: Electric 4-wheelers hold the majority share in Volume as well as Value in the Electric Vehicle Market owing to the preference and high income of end-users.

By 2-Wheeler Type: High-end versions of E-motorcycles are most sold in the Electric 2-wheeler market and are priced at over $15,000.

Future Outlook:

Market Size of USA EV and EV Charging Equipment Market is expected to show increasing trend from 2022 to 2027. This is owing to the high-end motorcycle enthusiasts and higher concentration of electric vehicle charging infrastructure. Also, government initiatives and programs such a large amount of incentives and tax rebates on buying of four-wheeler electric vehicle will play a major role in shifting the preference of buyers towards four wheelers EVs.