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North America Automotive Retrofit Electric Vehicle Market to be Led by Old Vehicle Replacements Through 2028

Strict government initiatives, new technologies, and rising focus on environment sustainability are the driving forces for North America Automotive Electric Vehicle Retrofit market.

According to the TechSci Research report, "North America Automotive Electric Vehicle Retrofit Market - By Country, Competition, Forecast and Opportunities, 2018-2028F",Rising emission standards, rising fuel prices, and growing demand for cost-effective solutions to transition to electric mobility are major factors driving the automotive retrofit electric vehicle powertrain market. Furthermore, government incentives for electric vehicles to reduce air pollution levels, as well as announcements to ban both the sales of new IC engine vehicles and the use of IC engine vehicles more than 15 years old, are few significant factors driving the global market. Electric vehicle retrofitting entails replacing a vehicle's fossil fuel-powered engine and connected components such as axles with electric motors, batteries, and a slew of microelectronics such as controllers and converters. Chargers are also installed in retrofitted vehicles to allow them to be charged at any time. Electric vehicle retrofitting is viewed as a cost-effective method and opportunity for a significant number of vehicle owners who would otherwise be unable to afford new electric vehicles. Retrofitting is also being considered as a way to extend the life and usability of an old vehicle, beyond the end of its lifecycle.

Automotive retrofit electric vehicle powertrain is an integrated electric powertrain that is typically retrofitted to an antique or classic car to transform that car into an electric car to minimise emissions. So that they can reduce their running costs and emissions, owners of conventional vehicles can finish making the switch to electric mobility. Ford and General Motors are among the major automakers offering electric conversion kits for drivers who want to keep their current vehicle on the road while drastically reducing emissions. In 2020, General Motors announced a motor, battery, and converter kit. Ford is getting ready to sell a 281-horsepower electric crate motor. Zero Labs in Los Angeles provides an electric drive chassis platform for various vehicle classes such as 4x4 SUVs, pickup trucks, and muscle cars. London Electric is a company based in the United Kingdom that provides conversion services for original Minis, Land Rovers, and Morris classic cars. Conversion for mass production models should be less expensive, and if adoption is to be effective, it should remain affordable to many car owners.

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The North America Automotive Electric Vehicle Retrofit market can be segmented based on vehicle type, electric vehicle type, by end-user, by motor type and by region. Based on vehicle type, the passenger car segment currently dominates North America Automotive Electric Vehicle Retrofit market with highest share among all vehicle type. This is due to the rising demand of the passenger car and high replacement ratio of retrofitted in the passenger car. In terms of Electric Vehicle Type, the market is divided into Battery Electric Vehicle, Plug-in Hybrid Electric Vehicle and Hybrid Electric Vehicles. Battery Electric Vehicle has led in this segment due to consumers' propensity to choose Battery electric conversions for their vehicles in order to drastically cut running expenses. Based on the end-user, the market is divided into the inclusive conversion kit and assembled parts. The Inclusion conversion kit dominates the market because consumers prefer it over completed pieces because it allows them to change their car with only one kit and is more affordable. Based on the motor hub, the market is divided between mid-drive hub motor and wheel drive hub motor.

Some of the major players operating in the North America Automotive Electric Vehicle Retrofit market include:

  • Delphi Technologies
  • Hitachi Astemo, Ltd.
  • Mando Corporation
  • Bison EV
  • CanEV
  • FlashDrive Motors
  • Zerolabs, Inc.,
  • Electric GT
  • XL Fleet Corp

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'Many companies are investing in the development of electric vehicle retrofit kits for the conversion of fossil fuelled vehicles to reduce carbon emission. Also, the vehicles which are not up to the government standard are being replaced with retrofit kit. Additionally, the concern regarding the environmental pollution led the government to promote the policy for Electric vehicle adoption, which is further increasing the potential of automotive electric vehicle retrofit market. " said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

North America Automotive Retrofit Automotive Retrofit Electric Vehicle Market by Vehicle Type (Two-Wheeler, Passenger Car, Commercial Vehicles), By Automotive Retrofit Electric Vehicle Type (Battery Electric Vehicle, Plug-in Hybrid Vehicle, Hybrid Vehicle), By End User (Inclusive Conversion Kit, Assembled Parts), By Motor Type (Mid Drive Motor, Wheel Hub Motor), and By Region Competition, Opportunity, and Forecast, 2018-2028F”, has evaluated the future growth potential of North America Automotive Electric Vehicle Retrofit Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the North America Automotive Electric Vehicle Retrofit Market.

Mr. Ken Mathews
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Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
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