Market Forecast by Countries (United States, Canada), By Propulsion Type (BEV, PHEV, FCEV), By Type (Light Duty Trucks, Medium Duty Trucks, Heavy Duty Trucks), By End User (Last Mile Delivery, Long Haul Transportation, Refuse Services, Field Services, Distribution services), By Range (Upto 200 Miles, Above 200 Miles), By Battery Capacity (Less Than 50kwh, 50-250 Kwh, Above 250 Kwh), By Payload Capacity ( Upto 10,000 lbs, 10,001-26,000 lbs, Above 26,001 lbs), By Level of Automation (Semi-autonomous, Autonomous) And Competitive Landscape
Product Code: ETC182347 | Publication Date: May 2021 | Updated Date: Jan 2025 | Product Type: Market Research Report | |
Publisher: 6Wresearch | No. of Pages: 200 | No. of Figures: 90 | No. of Tables: 30 | |
The North America Electric Truck Market report provides a comprehensive evaluation by propulsion type, vehicle type, range, battery capacity, level of automation, and leading players. This detailed report offers stakeholders valuable insights into current and projected market trends, main drivers, high-growth segments, and key challenges, aiding in the formulation of strategic decisions and aligning market strategies with evolving industry dynamics.
The North America Electric Truck Market is rapidly evolving due to increased environmental awareness and the need to reduce carbon emissions. Key trends include technological innovations in battery technology and the growth of renewable energy infrastructure. Significant growth drivers are government incentives, corporate commitments to sustainability, and advancements in electric vehicle (EV) technology. However, challenges such as high initial costs and limited charging infrastructure persist.
According to market forecasts, the electric truck market is expected to grow at a significant CAGR 9.2% during the forecast period 2025-2031. The primary drivers of the North America Electric Truck Market include stringent emission regulations and government incentives promoting the adoption of electric vehicles. Technological advancements in battery performance and efficiency have made electric trucks more viable for commercial use. Additionally, the rising fuel costs and corporate sustainability goals are pushing companies to invest in electric trucks. The development of a robust charging infrastructure and increasing range capabilities are also essential factors contributing to market growth.
The North America Electric Truck Market faces several challenges that could impede its growth. High initial purchasing costs and the limited range of electric trucks compared to their diesel counterparts remain significant obstacles. Additionally, the lack of widespread charging infrastructure and longer refuelling times present practical challenges for long-haul transportation. Economic uncertainties and fluctuating material costs for batteries further complicate market dynamics. Companies also face competition from established truck manufacturers diversifying into the electric vehicle market.
Leading players in the North America Electric Truck Market include companies like Tesla, Nikola Corporation, Rivian, and Daimler Trucks North America. These companies are recognized for their cutting-edge technology, extensive R&D investments, and strong market presence. They continue to innovate with high-performance electric truck models, partnerships for developing charging infrastructure, and sustainable manufacturing practices, setting benchmarks in the industry.
Numerous government initiatives bolster the North America Electric Truck Market. Policies such as the Clean Trucks Program and the Advanced Clean Transportation Regulation provide frameworks and funding to promote the adoption of electric trucks. The Zero-Emission Vehicle (ZEV) Program mandates increasing numbers of zero-emission trucks, incentivizing manufacturers and fleet operators. These initiatives aim to reduce greenhouse gas emissions, improving air quality and fostering industry growth.
The future for the North America Electric Truck Market looks promising, with continuous advancements in battery technology and sustainable practices. Growth opportunities will arise from expanding the electric vehicle market, particularly in last-mile delivery and urban logistics. However, evolving regulatory landscapes and environmental concerns will require adaptive strategies from market players. Developing efficient, low-cost extraction methods and enhancing the current charging infrastructure will be crucial to maintain competitiveness and meet rising demands.
According to Ravi Bhandari, Research Head, 6Wresearch, the United States is the dominant market within North America for electric trucks, driven by extensive government initiatives and corporate commitments to sustainability. The robust presence of electric vehicle manufacturers and high consumer uptake of electric trucks contribute significantly to this growth. In particular, advancements in charging infrastructure and favorable regulatory policies have accelerated market expansion. Moreover, the broad application of electric trucks in logistics, last-mile deliveries, and urban transportation underscores the importance of the United States in spearheading this market evolution.
Battery Electric Vehicles (BEVs) are experiencing the fastest growth in the North America Electric Truck Market. This surge is fueled by ongoing advancements in battery technology, which have improved energy density and reduced costs, making BEVs increasingly competitive against traditional vehicles. Additionally, BEVs benefit from emissions regulations and incentives for zero-emission vehicles, enhancing their appeal to environmentally conscious companies. With growing operational range and various government subsidies, BEVs are becoming a viable option for a broad spectrum of commercial applications.
Light duty trucks are witnessing notable growth in the North America Electric Truck Market. Their versatility for various applications, such as urban deliveries and short-haul transport, makes them highly attractive. Improvements in battery technology have extended their range, addressing one of the key concerns for commercial users. Additionally, lower operational costs and increasing government incentives are encouraging companies to adopt electric light duty trucks, enhancing their market penetration and growth.
Last mile delivery services are rapidly adopting electric trucks, driven by the need for cost efficiency and reduced emissions in urban areas. The increase in e-commerce has put pressure on logistics companies to find sustainable and efficient delivery solutions. Electric trucks offer lower operating costs and align with companies' sustainability goals, making them an ideal choice for last mile delivery services. Innovations in battery life and charging infrastructure further support their growing use in this segment.
Electric trucks with a range above 200 miles are gaining traction as they alleviate range anxiety and enable longer routes without frequent recharging. This extended range makes them viable for a wider variety of applications, including intercity logistics and regional haulage. Technological advancements in batteries and vehicle design have contributed to the increased range, making these electric trucks a competitive alternative to conventional diesel trucks. As the charging infrastructure continues to improve, the market adoption of trucks with over 200 miles of range is expected to see significant growth.
Electric trucks with a battery capacity of 50-250 kWh are experiencing significant growth. This range offers a balance between cost-efficiency and operational capacity, making it suitable for a wide range of applications from urban deliveries to regional transportation. Advances in battery technology have made these capacity ranges more affordable and efficient, driving higher adoption rates. Increased investments in charging infrastructure are also supporting the operational feasibility of trucks within this battery capacity segment.
Electric trucks with a payload capacity of 10,001-26,000 lbs are seeing robust growth, particularly as they serve a critical need for medium-duty transport tasks. This segment is ideal for urban logistics, regional deliveries, and various commercial applications requiring moderate payload capacities. The improvements in battery technology and the availability of government incentives are encouraging the adoption of electric trucks with this payload capacity. Consequently, these vehicles are becoming a staple in the electric truck market.
Semi-autonomous electric trucks are gaining momentum due to their potential to greatly improve operational efficiency and safety. Companies are increasingly investing in semi-autonomous technologies that enable advanced driver-assistance systems, such as automatic braking and lane-keeping. This innovation allows for safer and more efficient transportation, reducing the likelihood of human error and operational costs. As technology continues to evolve, the adoption of semi-autonomous electric trucks is expected to rise, driven by these substantial benefits.
The report provides a detailed analysis of the following market segments:
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 North America Electric Truck Market Overview |
3.1 North America Regional Macro Economic Indicators |
3.2 North America Electric Truck Market Revenues & Volume, 2021 & 2031F |
3.3 North America Electric Truck Market - Industry Life Cycle |
3.4 North America Electric Truck Market - Porter's Five Forces |
3.5 North America Electric Truck Market Revenues & Volume Share, By Countries, 2021 & 2031F |
3.6 North America Electric Truck Market Revenues & Volume Share, By Propulsion Type, 2021 & 2031F |
3.7 North America Electric Truck Market Revenues & Volume Share, By Type, 2021 & 2031F |
3.8 North America Electric Truck Market Revenues & Volume Share, By End User, 2021 & 2031F |
3.9 North America Electric Truck Market Revenues & Volume Share, By Range, 2021 & 2031F |
3.10 North America Electric Truck Market Revenues & Volume Share, By Battery Capacity, 2021 & 2031F |
3.11 North America Electric Truck Market Revenues & Volume Share, By Payload Capacity, 2021 & 2031F |
3.12 North America Electric Truck Market Revenues & Volume Share, By Level of Automation, 2021 & 2031F |
4 North America Electric Truck Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 North America Electric Truck Market Trends |
6 North America Electric Truck Market, 2021-2031 |
6.1 North America Electric Truck Market, Revenues & Volume, By Propulsion Type, 2021-2031 |
6.2 North America Electric Truck Market, Revenues & Volume, By Type, 2021-2031 |
6.3 North America Electric Truck Market, Revenues & Volume, By End User, 2021-2031 |
6.4 North America Electric Truck Market, Revenues & Volume, By Range, 2021-2031 |
6.5 North America Electric Truck Market, Revenues & Volume, By Battery Capacity, 2021-2031 |
6.6 North America Electric Truck Market, Revenues & Volume, By Payload Capacity, 2021-2031 |
6.7 North America Electric Truck Market, Revenues & Volume, By Level of Automation, 2021-2031 |
7 United States Electric Truck Market, 2021-2031 |
7.1 United States Electric Truck Market, Revenues & Volume, By Propulsion Type, 2021-2031 |
7.2 United States Electric Truck Market, Revenues & Volume, By Type, 2021-2031 |
7.3 United States Electric Truck Market, Revenues & Volume, By End User, 2021-2031 |
7.4 United States Electric Truck Market, Revenues & Volume, By Range, 2021-2031 |
7.5 United States Electric Truck Market, Revenues & Volume, By Battery Capacity, 2021-2031 |
7.6 United States Electric Truck Market, Revenues & Volume, By Payload Capacity, 2021-2031 |
7.7 United States Electric Truck Market, Revenues & Volume, By Level of Automation, 2021-2031 |
8 Canada Electric Truck Market, 2021-2031 |
8.1 Canada Electric Truck Market, Revenues & Volume, By Propulsion Type, 2021-2031 |
8.2 Canada Electric Truck Market, Revenues & Volume, By Type, 2021-2031 |
8.3 Canada Electric Truck Market, Revenues & Volume, By End User, 2021-2031 |
8.4 Canada Electric Truck Market, Revenues & Volume, By Range, 2021-2031 |
8.5 Canada Electric Truck Market, Revenues & Volume, By Battery Capacity, 2021-2031 |
8.6 Canada Electric Truck Market, Revenues & Volume, By Payload Capacity, 2021-2031 |
8.7 Canada Electric Truck Market, Revenues & Volume, By Level of Automation, 2021-2031 |
9 North America Electric Truck Market Key Performance Indicators |
10 North America Electric Truck Market - Opportunity Assessment |
10.1 North America Electric Truck Market Opportunity Assessment, By Countries, 2021 & 2031F |
10.2 North America Electric Truck Market Opportunity Assessment, By Propulsion Type, 2021 & 2031F |
10.3 North America Electric Truck Market Opportunity Assessment, By Type, 2021 & 2031F |
10.4 North America Electric Truck Market Opportunity Assessment, By End User, 2021 & 2031F |
10.5 North America Electric Truck Market Opportunity Assessment, By Range, 2021 & 2031F |
10.6 North America Electric Truck Market Opportunity Assessment, By Battery Capacity, 2021 & 2031F |
10.7 North America Electric Truck Market Opportunity Assessment, By Payload Capacity, 2021 & 2031F |
10.8 North America Electric Truck Market Opportunity Assessment, By Level of Automation, 2021 & 2031F |
11 North America Electric Truck Market - Competitive Landscape |
11.1 North America Electric Truck Market Revenue Share, By Companies, 2024 |
11.2 North America Electric Truck Market Competitive Benchmarking, By Operating and Technical Parameters |
12 Company Profiles |
13 Recommendations |
14 Disclaimer |