North America Electric Vehicle Market Scope

Electric vehicle market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing at a CAGR of 22.8% in the forecast period of 2020 to 2027and expected to reach USD 202,861.92 million by 2027 from USD 39,731.62 million in 2019. Increasing concern about pollution and initiative from the governments to promote use of electric vehicle are the factors for the market growth.

Electric vehicle are run by utilizing clean electric energy. Instead of an internal combustion engine, electric vehicles were powered using an electric motor. The internal combustion engine is used to burn fossil products.