$104.8bn
$X.Xbn
62,599
248
$X.Xbn
Hybrid and electric vehicle manufacturers have soared through the current period as part of increased sustainability initiatives from the government and the public. Hybrid electric vehicles (HEV) and electric vehicles (EV), including plug-in electric vehicles (PEV) and plug-in hybrid electric vehicles (PHEV), have seen a dramatic rise in sales amid elevated oil and gas prices. In particular, new government incentives and infrastructure funding have increased the accessibility of electric and hybrid vehicles domestically. Revenue has climbed at a CAGR of 32.4% to $104.8 billion through the current period, including a 19.9% jump in 2024, when profit reached 6.0%.
Industry revenue has grown at a CAGR of 32.1 % over the past five years, to reach an estimated $104.8bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Tesla, Inc. | 45,426.1 | 5,041.6 | 11.1 | |
Toyota Motor Corp | 14,414.1 | 1,552.8 | 10.8 | |
Ford Motor Co | 6,612.2 | 360.3 | 5.4 |
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Industry revenue is measured across several distinct product and services lines, including Hybrid electric vehicles, Electric vehicles and Plug-in electric vehicles. Hybrid electric vehicles is the largest segment of the Hybrid & Electric Vehicle Manufacturing in the US.
All-electric vehicles (EVs) grow increasingly popular
This industry primarily manufactures hybrid and electric automobiles that use one or more electric motors for propulsion. A hybrid electric vehicle (HEV) is a type of a vehicle that combines a conventional internal combustion engine (ICE) propulsion system with an electric propulsion system. The most common form of HEV is the hybrid electric car, though hybrid electric trucks (pickups and tractors) and SUVs also exist.
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NAICS 33531 - Hybrid & Electric Vehicle Manufacturing in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Increasing international competition poses a major threat to domestic manufacturers. Even so, many companies take advantage of tax breaks and rebates to assemble EVs and hybr...
Learn about an industry's products and services, markets and trends in international trade.
Smaller and less expensive battery packs aid the growth of all-electric vehicles. Newer battery packs improve fuel and power use efficiency while reducing manufacturing costs...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Many companies have opened operations in the West. These companies often partner with technology companies to stimulate research and development.
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Fuel efficiency and price remain primary concerns for manufacturers. Electric and hybrid vehicles are more sustainable but have shorter driving distances and carry upfront hi...
Learn about the performance of the top companies in the industry.
Tesla announced in February 2023 that it will build a new plant in northern Mexico. The company plans to broaden its operations outside of the United States.
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Companies benefit from extensive government and private support. Start-ups receive extensive private funding, while most manufacturers benefit from subsidies, grants and othe...
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Government incentives and research and development have reduced production costs for manufacturers. Companies have managed to expand profit and reduce costs.
Including values and annual change:
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Key data sources in the US include:
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These sources include:
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The market size of the Hybrid & Electric Vehicle Manufacturing in the US industry in United States is $104.8bn in 2024.
There are 248 businesses in the Hybrid & Electric Vehicle Manufacturing in the US industry in United States, which has grown at a CAGR of 11.3 % between 2019 and 2024.
The market size of the Hybrid & Electric Vehicle Manufacturing in the US industry in United States has been growing at a CAGR of 32.1 % between 2019 and 2024.
Over the next five years, the Hybrid & Electric Vehicle Manufacturing in the US industry in United States is expected to grow.
The biggest companies operating in the Hybrid & Electric Vehicle Manufacturing market in United States are Tesla, Inc., Toyota Motor Corp and Ford Motor Co
Hybrid vehicle manufacturing and Electric vehicle manufacturing are part of the Hybrid & Electric Vehicle Manufacturing in the US industry.
The company holding the most market share in United States is Tesla, Inc..
The level of competition is very high and increasing in the Hybrid & Electric Vehicle Manufacturing in the US industry in United States.