Electric Truck Market Size

Statistics for the 2023 & 2024 Electric Truck market size, created by Mordor Intelligence™ Industry Reports. Electric Truck size report includes a market forecast to 2029 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

Market Size of electric truck Industry

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Electric Truck Market
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Icons Lable Value
https://s3.mordorintelligence.com/study%20period/1629296433432_test~study_period_study_period.svg Study Period 2016 - 2029
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg Market Size (2024) USD 41.67 Billion
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg Market Size (2029) USD 128.26 Billion
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg CAGR (2024 - 2029) 25.21 %
https://s3.mordorintelligence.com/hydraulic_fluids/1629285650767_test~hydraulic_fluids_hydraulic_fluids.svg Largest Share by Sub Body Type Light Commercial Pick-up Trucks
https://s3.mordorintelligence.com/globe/1629285706162_test~globe_globe.svg Largest Share by Region Europe

Major Players

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*Disclaimer: Major Players sorted in no particular order

Key Players

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Electric Truck Market Analysis

The Electric Truck Market size is estimated at USD 41.67 billion in 2024, and is expected to reach USD 128.26 billion by 2029, growing at a CAGR of 25.21% during the forecast period (2024-2029).

  • Largest Segment by Vehicle Type - Trucks : Medium-duty trucks are projected to make up over 93% of the global electric truck fleet by 2026, with over 302,000 units in use worldwide.
  • Fastest-growing Segment by Vehicle Type - Trucks : The Growth in construction projects, trading, and increase in the logistics usage for heavy carriages is making heavy trucks the fastest-growing body type in commercial vehicle sales globally.
  • Largest Segment by Fuel Type - HEV : Battery electric vehicle holds the largest share due to factors such as the growing logistics industry, and stringent emission regulations by the government.
  • Largest Segment by Country - US : Electric trucks recorded the largest share of medium and heavy commercial vehicle sales in China, this is because the majority of manufacturers are engaged in producing electric vehicles.

Electric Truck Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)