U.S. Automotive Market Size, Share, & Industry Analysis Report: By Vehicle Type (Passenger Car, Commercial Vehicle), By Propulsion Type (ICE Vehicle, Electric Vehicle) – Market Forecast, 2025–2034
Description
The U.S. automotive market size is expected to reach USD 1,621.16 million by 2034, according to a new study by Polaris Market Research. The report “U.S. Automotive Market Share, Size, Trends, Industry Analysis Report: By Vehicle Type (Passenger Car, Commercial Vehicle), By Propulsion Type (ICE Vehicle, Electric Vehicle); Market Forecast, 2025–2034” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The U.S. automotive market refers to the dynamic ecosystem of vehicle manufacturing, innovation, and sales driven by evolving consumer preferences and technological advancements. The growing investments by automakers in high-demand vehicle segments, such as SUV, crossovers, and pickups, boosts growth opportunities. These segments continue to dominate due to their versatility, performance, and appeal across diverse consumer groups. As a result, manufacturers are redirecting resources toward designing and producing models that align with lifestyle-driven demand, reinforcing this shift in product strategy across the industry.
In the U.S., the rapid technological advancements of automotive manufacturing, including the integration of automation, artificial intelligence, and software-defined vehicle architectures, contribute to the market development. These innovations are transforming the way vehicles are designed, assembled, and updated, enabling faster production cycles, improved customization, and continuous over-the-air software updates. The US automotive market is evolving toward a more connected, efficient, and responsive manufacturing landscape that supports long-term industry competitiveness as digital technologies become central to vehicle development.
U.S. Automotive Market Report Highlights
In terms of vehicle type, the commercial vehicle segment held the largest revenue share in 2024, fueled by e-commerce and logistics sector expansion. Rising demand for light commercial vehicles (LCVs) in last-mile and intra-city delivery services significantly contributed to this growth.
Based on propulsion type, the electric vehicle segment is anticipated to register the fastest growth during the forecast period, driven by heightened environmental consciousness and government initiatives incentivizing clean energy adoption in transportation.
A few key players in the U.S. automotive market include BYD; General Motors; Honda Motor Company; Hyundai Motor Company; Mercedes-Benz; Nissan Motor Co., Ltd.; Stellantis N.V.; Ford Motor Company; Tesla; Toyota Motor Corporation; and Volkswagen.
Polaris Market Research has segmented the U.S. automotive market report on the basis of vehicle type and propulsion type:
By Vehicle Type Outlook (Revenue, USD Million, 2020–2034)
Passenger Car
Hatchback
Sedan
SUV
MUV
Commercial Vehicle
LCVs
Heavy Trucks
Buses & Coaches
By Propulsion Type Outlook (Revenue, USD Million, 2020–2034)
ICE Vehicle
Electric Vehicle
The U.S. automotive market refers to the dynamic ecosystem of vehicle manufacturing, innovation, and sales driven by evolving consumer preferences and technological advancements. The growing investments by automakers in high-demand vehicle segments, such as SUV, crossovers, and pickups, boosts growth opportunities. These segments continue to dominate due to their versatility, performance, and appeal across diverse consumer groups. As a result, manufacturers are redirecting resources toward designing and producing models that align with lifestyle-driven demand, reinforcing this shift in product strategy across the industry.
In the U.S., the rapid technological advancements of automotive manufacturing, including the integration of automation, artificial intelligence, and software-defined vehicle architectures, contribute to the market development. These innovations are transforming the way vehicles are designed, assembled, and updated, enabling faster production cycles, improved customization, and continuous over-the-air software updates. The US automotive market is evolving toward a more connected, efficient, and responsive manufacturing landscape that supports long-term industry competitiveness as digital technologies become central to vehicle development.
U.S. Automotive Market Report Highlights
In terms of vehicle type, the commercial vehicle segment held the largest revenue share in 2024, fueled by e-commerce and logistics sector expansion. Rising demand for light commercial vehicles (LCVs) in last-mile and intra-city delivery services significantly contributed to this growth.
Based on propulsion type, the electric vehicle segment is anticipated to register the fastest growth during the forecast period, driven by heightened environmental consciousness and government initiatives incentivizing clean energy adoption in transportation.
A few key players in the U.S. automotive market include BYD; General Motors; Honda Motor Company; Hyundai Motor Company; Mercedes-Benz; Nissan Motor Co., Ltd.; Stellantis N.V.; Ford Motor Company; Tesla; Toyota Motor Corporation; and Volkswagen.
Polaris Market Research has segmented the U.S. automotive market report on the basis of vehicle type and propulsion type:
By Vehicle Type Outlook (Revenue, USD Million, 2020–2034)
Passenger Car
Hatchback
Sedan
SUV
MUV
Commercial Vehicle
LCVs
Heavy Trucks
Buses & Coaches
By Propulsion Type Outlook (Revenue, USD Million, 2020–2034)
ICE Vehicle
Electric Vehicle
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