US Electric Truck Market Overview: 2024-2030
Base Year: 2023
Historical Years: 2019-22
Forecast Years: 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. The US Electric Truck Market is going through significant growth due to multiple drivers like technological advancements and, of course, increasing healthcare needs. The increase in road accidents throughout the country creates a greater demand for X-rays.
Markntel Advisor’s US Electric Truck Market Insights report provides the current and forecast market analysis, individual leading companies' market shares, challenges, US Electric Truck Market drivers, barriers, US Electric Truck Market Trends, and Key Players in US Electric Truck Market.
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US Electric Truck Market Dynamics: 2024-2030
The US Electric Truck Market Challenge:
Extended Charging Hours Slowing Down the Market’s Growth Pace – Although electric trucks have low maintenance costs and better performance, certain fleet operators and logistics companies are showcasing their redundancy to integrate these trucks into their fleets. This hesitancy among fleet managers is mainly due to the extended charging hours of electric freight carriers which increases the overall duration of trips. As per the American Trucking Association, contemporary long-haul battery electric trucks range about 150-330 miles and take 10 hours to charge fully. The extended charging hours are not suitable for many essential commodities in transit. Also, the longer duration of trips enhances the cost of trips, hampering the overall margin of logistics companies. Owing to this, many establishments in the logistics sector are not electrifying their fleet, which is hampering the US Electric Truck Market’s potentiality..
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US Electric Truck Market (2024-30): Segmentation Outlook
The market report has segmented the market into the following categories:
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 By Region -North East -Mid-West -West -South. Note - If there are any particular details you need that are not currently included in the report, we will be happy to provide them as part of our customization services. Top Companies Operating in the 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. Reports Delivery Format - Market research studies from MarkNtel Advisors are offered in PDF, Excel, and PowerPoint formats. Within 24 hours of the payment being successfully received, the report will be sent to your email address About Us – We are a leading market research company, 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. Contact Us – Email: [email protected] Sales Office: 564 Prospect St, B9, New Haven, Connecticut, USA-06511 Address Corporate Office: Office No.109, H-159, Sector 63, Noida, Uttar Pradesh-201301, India
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