The US Automotive Industry Market size was valued at around USD 1.2 trillion in 2024 and is projected to reach USD 1.6 trillion by 2030. Along with this, the market is estimated to grow at a CAGR of around 2.1% during the forecast period, i.e., 2025-30. According to MarkNtel Advisors Study.
US Automotive Industry Market Driver:
Increasing Shift Towards Electric and Hybrid Vehicles – The demand for hybrid and electric vehicles has increased lately due to the shift towards cleaner alternatives, government support, technological advancements, low-cost, expanding EV ecosystem, and others. The government is increasingly supporting EVs through incentives, acts, programs, and other initiatives, with the aim of reducing carbon emissions and carbon pollutants in the environment, primarily generated by the automotive industry in the US. The Inflation Reduction Act (IRA) was initiated in 2022 by the government authorities to expand the Clean Vehicle Credits up to USD7,500 for new EVs and around USD4,000 for used EVs. Additionally, with the increasing investment in the development of the EV ecosystem, an investment of around USD5 billion has been announced to be invested from 2022 to 2026 under the National Electric Vehicle Infrastructure (NEVI) Programs, for the establishment of the fast charging DC infrastructures along major highways in the United States.
Thus, such initiatives and incentives have encouraged US citizens to adopt low-cost, environment-friendly vehicles over conventional ones, with more than 630,500 EVs sold in the first five months of 2025. Similarly, the leading automotive companies such as Toyota and Ford have recorded a rise of nearly 30% in the sales of EVs from 2023 to 2024. Henceforth, the increasing demand and ownership of electric and hybrid vehicles is propelling the automotive industry of the US.
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Key Market Reports Highlights
- Market Dimensions & Projections
- Pricing Evaluation
- Recent Strategic Moves by Companies
- Primary Stakeholders
- Import/Export Trend Analysis
- Competitive Landscape Assessment
- Emerging Opportunities
- Market Trends and Indicators
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US Automotive Industry Market Segmentation:
The market report categorizes the market based on different segments and geographical analysis.
Study Timeline:
-Base Year: 2024
-Historical Period: 2020 to 2023
-Forecast Period: 2025 to 2030
- By Vehicle Type
- Passenger Cars & Sports Utility Vehicles (SUVs) – Market Size & Forecast 2025–2030, USD Million & Million Units
- Commercial Vehicles – Market Size & Forecast 2025–2030, USD Million & Million Units
- Light Commercial Vehicles – Market Size & Forecast 2025–2030, USD Million & Million Units
- Heavy Commercial Vehicles – Market Size & Forecast 2025–2030, USD Million & Million Units
- Three-Wheelers – Market Size & Forecast 2025–2030, USD Million & Million Units
- Two-Wheelers – Market Size & Forecast 2025–2030, USD Million & Million Units
- By Propulsion Type
- Internal Combustion Engine (ICE) – Market Size & Forecast 2025–2030, USD Million & Million Units
- Electric – Market Size & Forecast 2025–2030, USD Million & Million Units
- Hybrid – Market Size & Forecast 2025–2030, USD Million & Million Units
- Others – Market Size & Forecast 2025–2030, USD Million & Million Units
- By Distribution Channel
- Dealerships – Market Size & Forecast 2025–2030, USD Million & Million Units
- Company-Owned Stores – Market Size & Forecast 2025–2030, USD Million & Million Units
- Online Retail/E-Commerce – Market Size & Forecast 2025–2030, USD Million & Million Units
- Fleet Sales – Market Size & Forecast 2025–2030, USD Million & Million Units
- Others (Direct-to-Consumer, Rental, etc.) – Market Size & Forecast 2025–2030, USD Million & Million Units
- By End-User
- Individual/Household – Market Size & Forecast 2025–2030, USD Million & Million Units
- Commercial/Corporate – Market Size & Forecast 2025–2030, USD Million & Million Units
- Government & Public Sector – Market Size & Forecast 2025–2030, USD Million & Million Units
- Ride-Sharing/Subscription Services – Market Size & Forecast 2025–2030, USD Million & Million Units
- Others – Market Size & Forecast 2025–2030, USD Million & Million Units
Competitive Landscape
With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including – General Motors Company, Ford Motor Company, Toyota Motor Corporation (Toyota Motor North America), Stellantis North America (Chrysler, Dodge, Jeep, Ram), Tesla, Inc., Honda Motor Company (American Honda Motor Co.), Hyundai Motor Group (Hyundai, Kia), Nissan Motor Corporation (Nissan North America), BMW of North America, LLC, Volkswagen Group of America looking forward to strengthening their market positions.
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