Light Electric Vehicles in US
To determine the market size, growth projections and major players in the US light electric vehicle market. The market analysis ideally includes number of units sold, the total addressable market (TAM), the current and forecast revenue of the market, and the number of light electric vehicle users.
The US is considered to be a mature market for light electric automotive vehicles (EV), and is a key market in the global light electric vehicle industry. There is some overlap concerning what 'light electric vehicles' means; this term is used in some market research to refer to automotive light vehicles, but other market research reports also indicate that the majority of light electric vehicles are e-bikes.
MARKET GROWTH - Automotives
- Electric automotive vehicles are forecast to have 7.6% market share of the US vehicle market by 2026, more than 600% growth from its 2018 market share of 1.2%.
- The US EV market grew by 81% from 2017 to 2018.
MARKET SIZE - Automotives
- American purchased 17.2 million light vehicles in 2018.
- EV sales in the US were estimated to be about 2% of the overall light vehicle market in 2018. If we accept that as true, 2% of 17.2 million = 344,000 units were sold in 2018.
MARKET SIZE AND GROWTH - E-bikes
- The market size for e-bikes in the US was estimated at between $134-300 million in 2018.
- The projected number of e-bike units sold in the US in 2019 is 300,000.
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