Home > Automotive > Mobility > Commercial Vehicles > Electric Truck Market

Electric Truck Market Trends

  • Report ID: GMI5800
  • Published Date: Apr 2024
  • Report Format: PDF

Electric Truck Market Trends

The expansion of charging infrastructure networks is reshaping the electric truck industry, facilitating the wide adoption of cleaner transportation solutions. As more charging stations are installed along key transportation routes, electric truck operators can reduce range anxiety and speed up the transition to sustainable logistics operations. For instance, in April 2024, Tesla unveiled plans to construct a series of electric truck charging stations spanning from the southern border of Texas to northern California. This strategic move aligns with the larger trend of electrifying heavy-duty trucks, a critical step in combating climate change and reducing air pollution.
 

The integration of renewable energy sources into electric truck operations marks a notable trend in the industry. Leveraging solar & wind power for charging infrastructure and onboard systems reduces the reliance on the grid, thereby further enhancing the environmental benefits of electric trucks. This trend aligns with the broader shift toward sustainable energy practices, driving innovations in both the transportation and renewable energy sectors. As renewable energy technologies continue to evolve, they offer promising opportunities for enhancing the sustainability of electric truck fleets.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of electric truck reached USD 21.1 billion in 2023 and will grow at over 15% CAGR between 2024 and 2032, led by advancements in battery technology.

The light-duty trucks vehicle segment held over 65% of the market share in 2023, driven by the emergence of compact electric models tailored for urban delivery.

Europe electric truck industry recorded over 11% share in 2023, propelled by stringent emissions regulations and ambitious climate targets.

Rivian, Nikola Corporation, BYD, Daimler AG, Volvo Group, Ford, General Motors, and PACCAR among others.

Electric Truck Market Scope

Buy Now


Premium Report Details

  • Base Year: 2023
  • Companies covered: 20
  • Tables & Figures: 334
  • Countries covered: 24
  • Pages: 240
 Download Free Sample