United States Electric Truck Market Overview
Base Year: 2023
Historical Years: 2018-2023
Forecast Years: 2024-2032
Market Growth Rate: 48.80% (2024-2032)
The electric truck industry in the U.S. is growing quickly. This growth comes from new technology and a rising demand for sustainable transport. According to the latest report by IMARC Group, the United States electric truck market size is projected to exhibit a growth rate (CAGR) of 48.80% during 2024-2032.
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United States Electric Truck Industry Trends and Drivers:
The electric truck market in the United States is growing quickly. This growth comes from new environmental rules, better technology, and eco-conscious customers. Federal and state policies push for change. The Biden administration aims for zero-emission vehicles. California’s Advanced Clean Trucks (ACT) rule also drives this shift. Manufacturers and fleet operators must replace diesel trucks with electric ones. Tesla, Rivian, Ford, and General Motors are investing billions in e-trucks. These range from light-duty pickups to heavy-duty commercial vehicles. At the same time, government incentive programs are improving charging infrastructure. This support helps boost the adoption of electric trucks. Finally, the total cost of owning electric trucks is improving. Battery prices are falling.
You can also save money with lower fuel and maintenance costs. These incentives are stronger for fleet operators in logistics and delivery. They make the market even more attractive. A big trend in the U.S. electric truck market is sustainability and CSR. Advancements in battery technology are happening at the same time. Solid-state batteries and higher energy densities are boosting ranges and cutting charge times. This helps ease the key concerns of potential buyers. More auto manufacturers, tech firms, and energy providers are teaming up. They want to create integrated solutions. These partnerships aim to make electric trucks more viable. V2G, or vehicle-to-grid, technology lets electric trucks act as mobile energy storage. This adds value to the grid. As people understand climate change and company roles, the U.S. electric truck market will expand. This change will lead to a new era in transportation logistics.
We explore the factors propelling the United States electric truck market growth, including technological advancements, consumer behaviors, and regulatory changes.
United States Electric Truck Industry Segmentation:
The report has segmented the market into the following categories:
Breakup by Vehicle Type:
- Light-duty Truck
- Medium-duty Truck
- Heavy-duty Truck
Breakup by Propulsion:
- Battery Electric Truck
- Hybrid Electric Truck
- Plug-in Hybrid Electric Truck
- Fuel Cell Electric Truck
Breakup by Range:
- 0-150 Miles
- 151-300 Miles
- Above 300 Miles
Breakup by Application:
- Logistics
- Municipal
- Construction
- Mining
- Others
Breakup by Region:
- Northeast
- Midwest
- South
- West
Competitive Landscape:
The competitive landscape of the industry has also been examined, along with the profiles of the key players.
Key highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Strategic Recommendations
- Historical, Current, and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us:
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provides a comprehensive suite of market entry and expansion services. IMARC offerings include a thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape, benchmarking analyses, pricing and cost research, and procurement research.
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