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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 booming. This growth comes from stricter environmental rules. Better battery tech and the growing need for green logistics are driving this trend. Federal and state policies encourage fleets to switch to zero-emission vehicles. The Inflation Reduction Act and California's Advanced Clean Trucks regulation are key examples. These incentives are speeding up the shift toward cleaner transportation. Big car makers like Tesla, Rivian, Ford, and GM are putting a lot of money into making electric trucks. The Tesla Semi and Ford F-150 Lightning are already in high demand. Battery prices are dropping. This change allows for longer ranges and faster charging. So, both established and new truck makers are teaming up with charging providers. These partnerships promote electric trucks. They focus on areas like final-mile delivery and regional haulage. Amazon and Walmart are leaders in green delivery. They order many electric vans to create eco-friendly supply chains. Some hurdles remain, like the weak charging infrastructure and high upfront costs. But these issues may fade as investments and tech innovations grow.

 

Another trend in the USA's electric truck market is the rise of specialized vehicles. They serve specific industries like refuse trucks, utility vehicles, and long-haul freight trucks. Cities and private waste companies are using electric garbage trucks. This change helps reduce noise pollution and emissions in urban areas. Hydrogen fuel-cell electric trucks are emerging as a long-haul option. They offer an alternative to battery-electric models for longer distances. Fleet operators can save energy and cut downtime using telematics and smart charging. Startups such as Nikola and established firms like Volvo are in a tough race for market share. This competition leads to many innovations in design and performance. Consumer awareness and corporate sustainability goals boost demand. Many companies now aim for carbon-neutral fleets by 2030 or sooner. This growth will hit challenges. There are limits to grid capacity. Also, charging protocols are not standardized. Battery recycling and second-life uses are gaining popularity. This change will boost the economic and environmental benefits of electric trucks. As a result, commercial transportation in the U.S. will likely see a major shift.

 

United States Electric Truck Industry Segmentation:

 

The market report offers a comprehensive analysis of the segments, highlighting those with the largest United States electric truck market share. It includes forecasts for the period 2024-2032 and historical data from 2018-2023 for the following segments.

 

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.

 

Contact Us:  

 

IMARC Group 

134 N 4th St. Brooklyn, NY 11249, USA 

Email: sales@imarcgroup.com 

Tel No:(D) 91 120 433 0800 

United States: 1-631-791-1145