United States Electric Truck Market 2024 | Growth, Trends, And Forecast By 2032

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.

Download a sample copy of the Report: https://www.imarcgroup.com/united-states-electric-truck-market/requestsample

United States Electric Truck Industry Trends and Drivers:

The U.S. electric truck market is growing fast. This growth comes from stricter environmental rules. Better battery tech and higher demand for sustainable logistics also play a part. Federal and state policies are speeding up adoption. The Inflation Reduction Act and California's Advanced Clean Trucks rule help increase zero-emission vehicle sales. They offer incentives and set mandates. Tesla, Rivian, Ford, and Freightliner are launching electric trucks. These trucks have better range, payload capacity, and charging systems. Decarbonization in transportation is crucial. This sector makes up almost 30% of U.S. greenhouse gas emissions. This fact drives the ongoing change. Fleet operators are switching to electric trucks to cut costs. Electric models have lower maintenance and fuel expenses, saving money over time. But challenges still exist. High upfront costs, limited charging spots, and range anxiety make it hard for many to adopt. The medium- and heavy-duty segments will lead this growth.

A key trend in the U.S. electric truck market is the rise of partnerships. Automakers, charging providers, and energy companies are joining forces. They aim to create a strong ecosystem. Proterra and ChargePoint are quickly growing their fast-charging networks for commercial trucks. Meanwhile, utilities are putting money into grid upgrades to back high-power charging stations. Last-mile delivery vehicles are in high demand. For example, Amazon ordered 100,000 Rivian vans. This shows the growing need for electric trucks in cities. New solid-state batteries and hydrogen fuel cells can boost range and charging speed. This will boost market potential even more. The used electric truck market is growing. It offers affordable choices for smaller fleets. Consumer and corporate sustainability goals match up with government incentives. So, the electric truck market is set to grow rapidly. Innovations in self-driving cars and vehicle-to-grid (V2G) tech could change the industry. Electric trucks will be cleaner, smarter, and better connected to the energy grid. With these developments, the U.S. is on track to become a global leader in electric truck adoption.

We explore the factors driving the growth of the market, including technological advancements, consumer behaviors, and regulatory changes, along with emerging United States electric truck market trends.

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 part of the customization.

About Us:

IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers 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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