USA Electric Truck

USA Electric Truck Market Research Report: Forecast (2021-2026)

By Vehicle Type (Light-Duty Truck, Medium-Duty Truck, Heavy-Duty Truck), By Propulsion (Battery Electric Vehicle, Hybrid Electric Vehicle, Plug-In Hybrid Electric Vehicle, Fuel Cell Electric Vehicle), Read more

  • Automotive
  • Apr 2021
  • 103
  • AT55006

Market Overview

According to MarkNtel Advisors’ research report “US Electric Truck Market Analysis, 2021," the market is likely to grow at a CAGR of 60% during 2021-26 due to the various government regulations to reduce nitrogen oxide & carbon dioxide emissions. It will promote zero-emission freight vehicles and increase electrification to help the road freight transport sector. Moreover, rising advancements in electric-vehicle technology, burgeoning development & testing of the battery-electric model by truck manufacturers, and snowballing investments in hydrogen fuel cell technology are factors propelling the growth of the electric truck market.

Report Coverage Details
Study Period Historical Data: 2016-19
Base Year: 2020
Forecast Period: 2021-26
CAGR (2021-2026) 60%
Region Covered California, New York, Washington, Florida, Texas, & Others
Key Companies Profiled Chanje Energy Inc., Orange EV, Mitsubishi Fuso Truck & Bus Corp., Nikola Motor Co., Tesla Inc., Ford Motor Co., General Motors Co., Workhorse Group Inc., BYD Co. Ltd., Fiat Chrysler Automobiles NV
Unit Denominations USD Million/Billion

 

Impact of COVID-19

In 2020, the COVID-19 pandemic affected the Electric Truck Market due to numerous safety measures taken by the government, which resulted in lockdown imposition across the country. Besides, layoffs and furloughing of key staff, and lack of cash flow also have an extensive impact on the ongoing research and development in the electric truck. However, in the post-Covid-19 era, the boom in developing electric trucks is likely to happen due to surging advancements in electric trucks and favorable zero-emission vehicle regulations by the government.

Market Segmentation

Heavy-Duty Trucks Attain Highest CAGR

Based on the Vehicle Type, Heavy-duty trucks are likely to attain the highest CAGR in the US Electric Truck market during the forecast year due to various regulations by the government for a heavy-duty truck to achieve 100% zero-emission heavy-duty truck sales by 2050. Hence, this is increasing the inclination of manufacturers to deploy heavy-duty electric trucks in their operations, thereby strongly contributing to the market growth in the future, reveals MarkNtel Advisors in their research report, "US Electric Truck Market Analysis, 2021."

Battery Electric Vehicle Acquired Significant Market Share

Based on Propulsion, Battery Electric Vehicle acquired a significant market share in the US Electric Truck Market. The demand for battery electric vehicles in light & medium trucks is surging at a robust rate due to the increasing production of battery-electric trucks by the manufacturer and extensive improvements in battery technology. Moreover, rising demand for battery-electric trucks and burgeoning collaboration among the battery manufacturers and truck producers to elevate the energy density of batteries are further likely to bolster the demand for battery-electric trucks in the forecast period.

Market Driver

Surging Demand for Electric Trucks in Logistics Operations

The rapid growth in the e-commerce industry has escalated the demand for deploying electric trucks in the logistics firms due to snowballing need for faster deliveries, thereby inclining the focus of several logistics companies toward sustainable technology. E-commerce companies like Amazon and Walmart to achieve their corporate sustainability targets and are planning to roll out electric light trucks for deliveries. Thus, this is further likely to promulgate the electric truck market growth in the country over the forecast period.

USA Electric Truck Market Research Report: Forecast (2021-2026)

 

Competitive Landscape

According to MarkNtel Advisors, the key players with a considerable market share in the US Electric Truck market include Chanje Energy Inc., Orange EV, Mitsubishi Fuso Truck & Bus Corp., Nikola Motor Co., Tesla Inc., Ford Motor Co., General Motors Co., Workhorse Group Inc., BYD Co. Ltd., Fiat Chrysler Automobiles NV, etc.

Key Questions Answered in the Market Research Report:

  1. What are the overall market statistics or market estimates (Market Overview, Market Size- By Value, Forecast Numbers, Market Segmentation, Market Shares) of the US Electric Truck market?
  2. What is the region-wise industry size, growth drivers, and challenges key market trends?
  3. What are the key innovations, technology upgrades, opportunities, regulations, growth drivers, and challenges in the US Electric Truck market? 
  4. Who are the key competitors or market players, and how do they perform in the US Electric Truck market based on a competitive benchmarking matrix?
  5. What are the key results derived from the market surveys conducted during the US Electric Truck market study?

Market Outlook, Segmentation and Statistics 

  • Impact of COVID-19 on US Electric Truck Market
  • Market Size & Analysis
    • Market Revenues
    • By Unit Sold
  • Market Share & Analysis
    • By Vehicle Type
      • Light-Duty Truck
      • Medium-Duty Truck
      • Heavy-Duty Truck
    • By Propulsion
      • Battery Electric Vehicle
      • Hybrid Electric Vehicle
      • Plug-In Hybrid Electric Vehicle
      • Fuel Cell Electric Vehicle
    • By Range
      • 0–150 Miles
      • 151–250 Miles
      • 251–500 Miles
      • >500 Miles
    • By Battery Capacity
      • <100 kWh
      • 100–200 kWh
      • 201–300 kWh
      • >300 kWh
    • By Application
      • Logistic
      • Municipal
    • By Region
      • California
      • New York
      • Washington
      • Florida
      • Texas
      • Others
  • By Company
    • Revenue Shares
    • Strategic Factorial Indexing
    • Competitor Placement in MarkNtel Quadrant
  • The US Electric Truck Market Policies, Regulations, Product Standards
  • The US Electric Truck Market Trends & Insights

Frequently Asked Questions

A. The historical data has been provided since 2016, while the base year is 2020, and the data forecast is up to 2026.

A. The measuring units of market size/industry size or the market value are USD Million.

A. The US Electric Truck Market is likely to grow at a CAGR of 60% during 2021-26.

A. Chanje Energy Inc., Orange EV, Mitsubishi Fuso Truck & Bus Corp., Nikola Motor Co., Tesla Inc., Ford Motor Co., General Motors Co., Workhorse Group Inc., BYD Co. Ltd., Fiat Chrysler Automobiles NV are few of the leading players in the US Electric Truck Market.

A. Heavy-Duty Trucks are likely to attain the highest CAGR during the forecast period and maintain their significant market share.

A. Logistic would continue to grow at the highest CAGR, thereby offering immense opportunities for manufacturers & suppliers of Electric Trucks across the US.

  1. Introduction
    1. Product Definition
    2. Research Process
    3. Market Segmentation
    4. Assumptions
  2. Executive Summary
  3. Impact of COVID-19 on The US Electric Truck Market
  4. Expert Verbatim-Interview Excerpts of industry experts
  5. The US Electric Truck Market Outlook, 2016-2026F
    1. Market Size & Analysis
      1. By Revenues
      2. By Unit Sold
    2. Market Share & Analysis
      1. By Vehicle Type
        1. Light-Duty Truck
        2. Medium-Duty Truck
        3. Heavy-Duty Truck
      2. By Propulsion
        1. Battery Electric Vehicle
        2. Hybrid Electric Vehicle
        3. Plug-In Hybrid Electric Vehicle
        4. Fuel Cell Electric Vehicle
      3. By Range
        1. 0–150 Miles
        2. 151–250 Miles
        3. 251–500 Miles
        4. >500 Miles
      4. By Battery Capacity
        1. <100 kWh
        2. 100–200 kWh
        3. 201–300 kWh
        4. >300 kWh
      5. By Application
        1. Logistic
        2. Municipal
      6. By Region
        1. California
        2. New York
        3. Washington
        4. Florida
        5. Texas
        6. Others
      7. By Company
        1. Market Shares, By Revenue
        2. Strategic Factorial Indexing
        3. Competitor Placement in MarkNtel Quadrant
    3. Market Attractiveness Index
      1. By Vehicle Type
      2. By Propulsion
      3. By Range
      4. By Battery Capacity
      5. By Application
      6. By Region
  6. The US Electric Truck Market Policies, Regulations, Product Standards
  7. The US Electric Truck Market Trends & Insights
  8. The US Electric Truck Market Dynamics
    1. Growth Drivers
    2. Challenges
    3. Impact Analysis
  9. The US Electric Truck Market Hotspot & Opportunities
  10. The US Electric Truck Market Key Strategic Imperatives for Success & Growth
  11. Competition Outlook
    1. Competition Matrix
      1. Product Portfolio
      2. Target Markets
      3. Target End User
      4. Research & Development
      5. Strategic Alliances
      6. Strategic Initiatives
    2. Company Profiles of Top Companies (Business Description, Product Segments, Business Segments, Financials, Strategic Alliances/ Partnerships, Future Plans)
      1. Chanje Energy Inc.
      2. Orange EV
      3. Mitsubishi Fuso Truck & Bus Corp.
      4. Nikola Motor Co.
      5. Tesla Inc.
      6. Ford Motor Co.
      7. General Motors Co.
      8. Workhorse Group Inc.
      9. BYD Co. Ltd.
      10. Fiat Chrysler Automobiles N.V.
  12. Disclaimer
USA Electric Truck Market Segmentation