North America (NAFTA) Hybrid and Electric Cars Market Summary, Competitive Analysis and Forecast, 2017-2026
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The NAFTA contributed $50.22 billion in 2021 to the global hybrid & electric cars industry. The NAFTA hybrid & electric cars industry is expected to grow at a CAGR of more than 9% during 2021-2026. The NAFTA hybrid & electric cars market research report provides top-line qualitative and quantitative summary information including market size and forecast. The profile also contains descriptions of the leading players including key financial metrics and an analysis of competitive pressures within the market.
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Key Nation in the NAFTA Hybrid and Electric Cars Market
The key nations included in the NAFTA hybrid & electric cars industry are the US, Mexico, and Canada. The US is leading the NAFTA hybrid & electric cars market in terms of revenue.
US
In the United States, the share of hybrid and electric car sales has grown owing to the significant increase in the sale of plug-in hybrids and mild hybrids, indicative of a weaker sentiment of some consumers towards fully electric cars amid range anxiety.
Mexico
The Mexican market saw accelerated sales growth in 2021 compared to 2020. Sales were stronger in 2021 through pent-up demand, as consumer confidence improved after a turbulent year characterized by lockdown measures and economic uncertainty. Moreover, the monetary stimulus in response to the economic recession brought by the COVID-19 pandemic supported new car sales through cheap credit.
Canada
The market is set to follow a double-digit growth during the forecast period as the adoption of hybrid and electric cars will continue to increase, driven by increasing affordability and a greater number of offerings, also facilitated by government incentives and expanding infrastructure.
Leading Nation in the NAFTA Hybrid and Electric Cars Market, by Revenue
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Key Company in the NAFTA Hybrid and Electric Cars Market
There are many companies in the NAFTA hybrid and electric cars such as Tesla, Inc., General Motors Company, Toyota Motor Corporation, and Ford Motor Company.
Tesla
Tesla, Inc. (Tesla or ‘the company’) is a US-based automotive company that designs, manufactures, and markets electric vehicles, components, and energy storage and generation systems. The company is headquartered in Palo Alto, California, the US.
General Motors Company
General Motors Company (GM or ‘the company’) is engaged in the design, development, production, and marketing of cars, trucks, and automobile parts. The company is headquartered in Detroit, Michigan, US.
Toyota Motor Corporation
Toyota Motor Corporation (Toyota or ‘the company’) is a manufacturer and seller of motor vehicles. The company is headquartered in Toyota City, Aichi, Japan.
Ford Motor Company
Ford Motor Company (Ford or ‘the company’) is an automotive manufacturer in the world. The company is headquartered in Dearborn, Michigan, the US.
Market Report Overview
Market Size 2021 | $50.22 billion |
CAGR % (2021-2026) | >9% |
Key Emerging Countries | The US, Canada, and Mexico |
Leading country | The US |
Key Companies | Tesla, Inc., General Motors Company, Toyota Motor Corporation, and Ford Motor Company |
Scope
- Save time carrying out entry-level research by identifying the size, growth, and leading players in the country’s hybrid and electric cars market
- Use the five forces analysis to determine the competitive intensity and therefore attractiveness of the NAFTA hybrid and electric cars market
- Leading company profiles reveal details of key NAFTA hybrid and electric cars market players’ emerging five operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the emerging five NAFTA hybrid and electric cars market with five-year forecasts by both value and volume
- Compares data from US, Mexico, and Canada, alongside individual chapters on each country
Reasons to Buy
The report includes:
- The size of the emerging five NAFTA hybrid and electric cars market by value in 2021
- The size of the emerging five NAFTA hybrid and electric cars market in 2026
- Factors affecting the strength of competition in the emerging five NAFTA hybrid and electric cars industry
- The industry performance over the last five years
- The top competitors in the emerging five NAFTA hybrid and electric cars market
General Motors Company
Toyota Motor Corporation
Ford Motor Company
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Frequently asked questions
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How much NAFTA hybrid and electric cars market contributed in 2021?
The NAFTA contributed $50.22 billion to the global hybrid and electric cars industry in 2021.
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What is the growth rate of the NAFTA hybrid and electric cars market?
The countries are expected to accelerate at a CAGR of more than 9% over the forecast period.
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Which countries are included in the NAFTA hybrid and electric cars market?
The US, Canada, and Mexico are included in the NAFTA hybrid and electric cars market.
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Which country will be leading the NAFTA hybrid and electric cars market in terms of revenue?
The US will be leading the NAFTA hybrid and electric cars market in terms of revenue.
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What are the key companies in the NAFTA hybrid and electric cars market?
There are many companies in the NAFTA hybrid and electric cars markets such as Tesla, Inc., General Motors Company, Toyota Motor Corporation, and Ford Motor Company.
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