US Electric Truck Market to Grow Exponentially, Expected to Hit USD 13.92 billion by 2030 at 36.16% CAGR: MarkNtel Advisors

Market Overview:

MarkNtel Advisors has released a new report that highlights the strong growth trajectory of the US Electric Truck Market, 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. Various factors are attributed to the growth of the market like growth in automobile production, growing focus on lightweight & sustainable materials, rising demand for luxury & customized interiors, increasing focus on safety standards, and the adoption of Advanced Driver Assistance Systems (ADAS). The report provides valuable insights into the drivers, trends, and challenges shaping the future of the US Electric Truck Market. It offers an in-depth look at the key players, geographical performance, and the segments leading the charge in market share.

Industry Outlook & Forecasts:

• Forecast Period: 2024-2030
• Market Size by 2023: 711.42 million
• CAGR (2024-2030): 36.16%

Key Perks: “In case you missed it, we are currently revising our reports. Click on the below to get the latest research data with forecasts for the years 2025 to 2030, including market size, industry trends, and competitive analysis. It wouldn’t take long for the team to deliver the most recent version of the report.”

Request for a Free PDF Sample of the Report – https://www.marknteladvisors.com/query/request-sample/usa-electric-truck-market.html

US Electric Truck Market Segmentation Breakdown:

The US Electric Truck Market explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic.  The further bifurcations are as follows:

• By Vehicle Type
  • Light-Duty Truck–Market Size & Forecast 2019–2030F, Thousand Units
  • Medium & Heavy Duty Truck–Market Size & Forecast 2019-2030F, Thousand Units

Medium & Heavy Duty Trucks have showcased a high-growth prospectus. In the US, establishments across verticals have enhanced their focus on sustainability, owing to which they are trying to electrify their supply chain.

• 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

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

Geographical Growth Insights:

By Region

• North East
• Mid-West
• West
• South

MarkNtel Advisors Highlights Key Market Drivers for US Electric Truck Market:

Supportive Administrative Frameworks to Stimulate Market Growth – In the US, the government significantly focuses on reducing emissions of pollutants like nitrogen oxides and particulate matter. For this, the government is supporting the transition to electric vehicles, as they consider it a key strategy to reduce carbon footprints. In line with this, the administration has introduced various initiatives to increase electric truck adoption. For instance:

• In 2024, the government passed the Inflation Reduction Act, which provides USD 1 billion in support for increasing adoption of electric trucks.

The presence of these supportive government initiatives has enhanced the adoption of electric trucks by logistics companies. Furthermore, it is targeted by the US administration to touch 100% zero-emission truck sales by 2035, and a near-zero-emission transportation sector by 2050. In line with these ambitions, the government would continue to incentivize the rates of electric trucks. Hence, this support would continue to catalyze the market size during the forecast period.

Explore More About This Research Report @ https://www.marknteladvisors.com/research-library/usa-electric-truck-market.html

A Comprehensive Analysis of Leading Companies in US Electric Truck Market

• 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

What are the growth Opportunity driving the US Electric Truck Market?

Government Plans to Expand Charging Infrastructure for Freight – In the US, the government’s aim towards achieving sustainability and climate goals has enhanced its focus on encouraging the adoption of zero-emission vehicles. Therefore, to vitalize the enterprises to adopt electric truck fleets the government is trying to attempt to increase the availability of charging infrastructure and for this, the government is launching various initiatives. For instance:

• In 2024, the government launched the National Zero-Emission Freight Corridor Strategy, which aims to increase the deployment of medium & heavy-duty vehicle electric charging infrastructure through 2040.

This would increase the network of charging stations across the country solving issues regarding range anxiety, and amplify the appeal of electric trucks to fleet operators. Hence, the government plans to strengthen the charging infrastructure network for freight trucks, which would escalate the market’s potentiality and generate a remarkable opportunity for electric truck companies in the US.

“Report Delivery Format: Market research reports from MarkNtel Advisors are available in PDF, Excel, and PowerPoint formats. Once payment is successfully processed, the report will be delivered to your email address within 24 hours”

Note: If you need additional information not included in the report, we can customize it to suit your requirements.

Contact Our Analysts for Brochure Requests, Customization, or Any Pre-Purchase Inquiries: https://www.marknteladvisors.com/query/request-customization/usa-electric-truck-market.html

About Us –

MarkNtel Advisors is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative & quantitative research company, strive to deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.

We have our existence across the market for many years and have conducted multi-industry research across 80+ countries, spreading our reach across numerous regions like America, Asia-Pacific, Europe, the Middle East & Africa, etc., and many countries across the regional scale, namely, the US, India, the Netherlands, Saudi Arabia, the UAE, Brazil, and several others.

More Research Studies: 

• Electric Vehicle Tire Market size was valued at USD1Billion in 2023 and is projected to reach USD 13.4 Billion by 2030. along with a CAGR of 18.7%.
• The Middle East Cyber Security Market size is valued at USD6 Billion in 2023 & is predicted to reach USD 29.7Billion by 2030. By Component, Security Type, Enterprise Size
• Uncover the booming Saudi Arabia plastic products Market valued at USD3Billion in 2022, with a projected 3.2% CAGR growth till 2028. Explore the influence of a strong economy and consumer spending.

Media Contact:

Company Name: MarkNtel Advisors

Corporate Office: Office No.109, H-159, Sector 63, Noida, Uttar Pradesh-201301, India

Email: sales@marknteladvisors.com

Website: www.marknteladvisors.com/