MarkNtel Advisors recently published a detailed industry analysis of the US Electric Truck Market. The report covers growth trends, regional marketing strategies, challenges, opportunities, and drivers influencing the market.
Insights and Analysis of the US Electric Truck Market (2024-2030)
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.
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What is driving the 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.
What segments define the US Electric Truck market from 2024 to 2030? How do these segments contribute to market dynamics and growth?
-By Vehicle Type
-Light-Duty Truck–Market Size & Forecast 2019–2030F, Thousand Units
-Medium & Heavy Duty Truck–Market Size & Forecast 2019-2030F, Thousand Units
-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
-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
Explore the Complete US Electric Truck Market Analysis Report – https://www.marknteladvisors.com/research-library/usa-electric-truck-market.html
-By Region
-North East
-Mid-West
-West
-South
Who are the leading key players shaping the US Electric Truck Market landscape?
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
Questions Addressed in this Study
1.What factors are driving the US Electric Truck Market growth?
2.How is the US Electric Truck Market expected to grow over the next five years?
3.What are the key insights into the current trends in the US Electric Truck Market?
4.What is the current size of the US Electric Truck Market, and how is it projected to change in the future?
6.What is the future outlook for the US Electric Truck Market in terms of technological advancements and market expansion?
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MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.
Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.
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