According to recent findings, the  US Electric Truck Market size is valued at USD 711.42 million in 2023 and is projected to reach USD 13.92 billion by 2030. The market is also estimated to grow at a CAGR of around 36.16% during the forecast period, i.e., 2024-30. 

At MarkNtel Advisors, we continuously monitor and analyze industry trends to provide reliable insights that support informed decision-making and the key factors contributing to the market's promising outlook.

US Electric Truck Overview:

The demand for electric trucks in the US has showcased stable growth over the historical period. This is attributed to the incentives provided by the government and the corporate sustainability goals of companies operating across different sectors. The past years have witnessed the announcement of various government initiatives like the Advanced Clean Trucks Rule and the National Zero-Emission Freight Corridor Strategy. These initiatives have reinforced fleet operators to shift to electric trucks from diesel trucks, which increased the market size of electric trucks in the US.

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US Electric Truck Outlook and Future Trends :

Introduction of Medium-Duty Electric Truck Models by Market Players – In the US, the demand for medium-duty trucks is growing to a large extent due to surging demand from urban delivery services and municipal services. Along with this, the technology used in medium-duty electric trucks is more mature, compared to heavy-duty electric. Owing to this, end users planning to electrify their vehicle fleet are more likely to electrify their medium-duty vehicle fleet. In line with this, emerging market trend many vehicle manufacturers are launching these types of electric trucks in the US. For instance:

• In 2023, Daimler Truck announced the launch of a new line of medium electric trucks in the US market under the brand name RIZON.

Furthermore, the e-commerce ecosystem is rapidly growing in the US due to surging consumer inclination. This growth in e-commerce would increase demand for delivery vehicles, and as delivery companies are moving towards sustainability, the affinity towards medium-duty electric trucks would surge.

Global US Electric Truck Segmentation Analysis:

By Propulsion

• Battery Electric Truck -Market Size & Forecast 2019-2030F, Thousand Units
• Hybrid Electric Truck-Market Size & Forecast 2019-2030F, Thousand Units
• Fuel Cell Electric Truck-Market Size & Forecast 2019-2030F, Thousand Units

According to reports, Battery Electric Vehicle accounted for the potential share in the US Electric Truck Market over the past few years.

By Range

• Up to 150 Miles- Market Size & Forecast 2019-2030F, Thousand Units
• 151-250 Miles- Market Size & Forecast 2019-2030F, Thousand Units
• 251-500 Miles- Market Size & Forecast 2019-2030F, Thousand Units
• >500 Miles- Market Size & Forecast 2019-2030F, Thousand Units

By Battery Type

• Lithium-Ion Batteries - Market Size & Forecast 2019-2030F, Thousand Units
• Lithium-Iron-Phosphate- Market Size & Forecast 2019-2030F, Thousand Units
• Others- Market Size & Forecast 2019-2030F, Thousand Units

By Battery Capacity

• <100 kWh- Market Size & Forecast 2019-2030F, Thousand Units
• 100- 200 kWh Market Size & Forecast 2019-2030, Thousand Units
• Above 200 kWh- Market Size & Forecast 2019-2030F, Thousand Units

By Application

• Logistics - Market Size & Forecast 2019-2030F, Thousand Units
• Construction- Market Size & Forecast 2019-2030F, Thousand Units
• Others - Market Size & Forecast 2019-2030F, Thousand Units

By Region

• North East
• Mid-West
• West
•  

For deeper insights into the market, explore the summary of the research report – https://www.marknteladvisors.com/research-library/usa-electric-truck-market.html

Some of the Market players in the Global US Electric Truck are:

• Volvo Trucks
• Stellantis
• Nikola Motor Co.
• Tesla Inc.
• Ford Motor Co.
• General Motors Co.
• Workhorse Group Inc.
• BYD Co. Ltd.
• Nu Ride Inc.
• Daimler Truck AG
• Rivian
• Others.

US Electric Truck Recent Development:

• 2024: Volvo’s subsidiary Volvo Trucks North America (VTNA) and Volvo Financial Services (VFS) partnered for a collaborative initiative for the Truck-as-a-Service (TaaS) business model. This collaboration is called “Volvo on Demand” and it was developed to simplify the acquisition and reduce the major upfront investment in battery-electric vehicles.

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Key Highlights of the Report – Unlock Valuable Market Insights

• Market Size, Share & Future Projections – Understand the current market dimensions and forecasted growth trajectory.
• In-Depth Pricing Analysis – Get clarity on pricing trends and cost structures across segments.
• Company Strategies & Developments – Discover recent mergers, acquisitions, partnerships, and innovations.
• Key Stakeholders & Value Chain Insights – Identify the main players and their roles within the industry ecosystem.
• Import & Export Dynamics – Analyze global trade flows, regional export trends, and supply chain movements.
• Competitive Benchmarking – Gain a clear view of the leading companies and their market positioning.
• Emerging Growth Opportunities – Spot untapped areas and niche markets for potential investment.
• Market Trends & Growth Drivers – Stay ahead with insights into evolving consumer behavior and industry indicators.

Research Methodology Summary

A systematic approach is used to ensure accurate market insights, combining both bottom-up and top-down methods. Data triangulation validates findings from multiple angles.

Key Steps:

• Define objectives and research design
• Collect data through surveys and interviews
• Analyze and validate data using reliable tools
• Forecast trends and deliver actionable insights

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