North America Electric Truck Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029

The North America Electric Truck Market is segmented by Body Type ( Trucks ) , by Fuel Type ( BEV, FCEV, HEV, PHEV ) and by Country ( Canada, Mexico, US, Rest-of-North America )

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North America Electric Truck Market Size

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North America Electric Truck Market Summary
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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 16.66 Billion
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg Market Size (2029) USD 64.65 Billion
https://s3.mordorintelligence.com/hydraulic_fluids/1629285650767_test~hydraulic_fluids_hydraulic_fluids.svg Largest Share by Sub Body Type Heavy-duty Commercial Trucks
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg CAGR (2024 - 2029) 31.15 %
https://s3.mordorintelligence.com/globe/1629285706162_test~globe_globe.svg Largest Share by Country US

Major Players
major-player-company-image major-player-company-image major-player-company-image major-player-company-image

*Disclaimer: Major Players sorted in no particular order

Key Players

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North America Electric Truck Market Analysis

The North America Electric Truck Market size is estimated at USD 16.66 billion in 2024, and is expected to reach USD 64.65 billion by 2029, growing at a CAGR of 31.15% during the forecast period (2024-2029).

  • Largest Segment by Vehicle Type - Heavy-duty Commercial Trucks : E mobility is still developing, and limited electric options available in CV due to less models in big trucks make the electric pick-up trucks the largest seller in an electric CV in North America.
  • Largest Segment by Fuel Type - BEV : The grants provided by the government are highest on BEV and stringent norms and more models available over another electric fuel type make BEV the largest fuel type in US electric truck market.
  • Leading Country Market - US : The US trucking industry is one of the major contributors to the country's economy. Around 71% of the country's domestic freight weight is moved through trucks annually.
  • Fastest-growing Country Market - Mexico : Growth in the e-commerce sector, developments in the logistics such as fleet growth, increasing construction activities are making the US the fastest-growing country in the truck market in the region.

North America Electric Truck Market Trends

This section covers the major market trends shaping the North America Electric Truck Market according to our research experts:

Heavy-duty Commercial Trucks is the largest segment by Sub Body Type.

  • North America is one of the prominent regions that may see positive sales for electric trucks in the coming years owing to the expanding infrastructure and constantly growing need for freight loading. However, in 2019, most countries across the region witnessed a decline in truck sales due to the economic slowdown, which continued during 2020 due to the COVID-19 outbreak.
  • In the United States, EPA and NHTSA proposed implementing the Safer Affordable Fuel-Efficient (SAFE) vehicles rule to be effective from 2021 to 2026. The rule may set corporate average fuel economy standards and greenhouse gas emissions for passenger and commercial vehicles. The zero-emission vehicle (ZEV) program requires OEMs to sell specific numbers of clean and zero-emission vehicles (electric, hybrid, and fuel cell-powered commercial and passenger vehicles). The ZEV plan aims at putting 12 million ZEVs on the road by 2030 in the country.
  • With the shifting preferences of customers, development of charging infrastructure, availability of fast-charging stations, and the subsidiary benefits of electric vehicles over conventional internal combustion engine trucks, the demand for electric trucks for freight operation is expected to grow, and the market may experience an exponential upward trajectory during the forecast period.
North America Electric Truck Market: North America Electric Truck Market, CAGR, %, By Sub Body Type, 2022 - 2028

US is the largest segment by Country.

North America Electric Truck Market: North America Electric Truck Market, CAGR, %, By Country, 2022 - 2028

North America Electric Truck Industry Overview

The North America Electric Truck Market is fairly consolidated, with the top five companies occupying 2616.46%. The major players in this market are BYD Co. Ltd., Chevrolet, Ford Motors Company, Mitsubishi Fuso Truck and Bus Corporation and Rivian Automotive, LLC (sorted alphabetically).

North America Electric Truck Market Leaders

  1. BYD Co. Ltd.

  2. Chevrolet

  3. Ford Motors Company

  4. Mitsubishi Fuso Truck and Bus Corporation

  5. Rivian Automotive, LLC

*Disclaimer: Major Players sorted in no particular order

North America Electric Truck Market Concentration
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North America Electric Truck Market News

  • June 2022: Orange EV introduces the third generation of its industry-leading electric yard trucks, the e-TRIEVERTM. The great T-Series base is built upon by the e-TRIEVER, which also upholds Orange EV's dedication to innovation and provides vehicles that can withstand the rigours of heavy-duty goods moving operations.
  • June 2022: Orange EV introduces the third generation of its industry-leading electric yard trucks, the e-TRIEVERTM. The great T-Series base is built upon by the e-TRIEVER, which also upholds Orange EV's dedication to innovation and provides vehicles that can withstand the rigours of heavy-duty goods moving operations.
  • May 2022: General Motors and INRIX Inc entered into a collaboration to develop safety solutions to help transportation and planning agencies achieve road safety goals

North America Electric Truck Market Report - Table of Contents

  1. EXECUTIVE SUMMARY & KEY FINDINGS

  2. REPORT OFFERS

  3. 1. INTRODUCTION

    1. 1.1. Study Assumptions & Market Definition

    2. 1.2. Scope of the Study

    3. 1.3. Research Methodology

  4. 2. KEY INDUSTRY TRENDS

    1. 2.1. Population

    2. 2.2. GDP

    3. 2.3. CVP

    4. 2.4. Inflation Rate

    5. 2.5. Interest Rate For Auto Loans

    6. 2.6. Battery Price (per Kwh)

    7. 2.7. Logistics Performance Index

    8. 2.8. Electrification Impact

    9. 2.9. New XEV Models Announced

    10. 2.10. Charging Stations Deployment

    11. 2.11. Regulatory Framework

    12. 2.12. Value Chain & Distribution Channel Analysis

  5. 3. MARKET SEGMENTATION

    1. 3.1. Body Type

      1. 3.1.1. Trucks

        1. 3.1.1.1. Heavy-duty Commercial Trucks

        2. 3.1.1.2. Light Commercial Pick-up Trucks

        3. 3.1.1.3. Medium-duty Commercial Trucks

    2. 3.2. Fuel Type

      1. 3.2.1. BEV

      2. 3.2.2. FCEV

      3. 3.2.3. HEV

      4. 3.2.4. PHEV

    3. 3.3. Country

      1. 3.3.1. Canada

      2. 3.3.2. Mexico

      3. 3.3.3. US

      4. 3.3.4. Rest-of-North America

  6. 4. COMPETITIVE LANDSCAPE

    1. 4.1. Key Strategic Moves

    2. 4.2. Market Share Analysis

    3. 4.3. Company Landscape

    4. 4.4. Company Profiles

      1. 4.4.1. BYD Co. Ltd.

      2. 4.4.2. Chevrolet

      3. 4.4.3. Ford Motors Company

      4. 4.4.4. Mitsubishi Fuso Truck and Bus Corporation

      5. 4.4.5. Nikola Corporation

      6. 4.4.6. Orange EV

      7. 4.4.7. RAM

      8. 4.4.8. Rivian Automotive, LLC

      9. 4.4.9. Tesla Inc.

  7. 5. KEY STRATEGIC QUESTIONS FOR VEHICLES CEOS

  8. 6. APPENDIX

    1. 6.1. Global Overview

      1. 6.1.1. Overview

      2. 6.1.2. Porter's Five Forces Framework

      3. 6.1.3. Global Value Chain Analysis

      4. 6.1.4. Market Dynamics (DROs)

    2. 6.2. Sources & References

    3. 6.3. List of Tables & Figures

    4. 6.4. Primary Insights

    5. 6.5. Data Pack

    6. 6.6. Glossary of Terms

List of Tables & Figures

  1. Figure 1:  
  2. NORTH AMERICA ELECTRIC TRUCK MARKET, POPULATION YOY GROWTH RATE, MILLION UNITS, 2016 – 2026
  1. Figure 2:  
  2. NORTH AMERICA ELECTRIC TRUCK MARKET, GDP YOY GROWTH RATE, USD MILLION, 2016 – 2026
  1. Figure 3:  
  2. NORTH AMERICA ELECTRIC TRUCK MARKET, CVP YOY GROWTH RATE, 2016 – 2027
  1. Figure 4:  
  2. NORTH AMERICA ELECTRIC TRUCK MARKET, INFLATION RATE YOY GROWTH RATE, PERCENT, 2016 – 2026
  1. Figure 5:  
  2. NORTH AMERICA ELECTRIC TRUCK MARKET, INTEREST RATE FOR AUTO LOANS YOY GROWTH RATE, PERCENT, 2016 – 2026
  1. Figure 6:  
  2. NORTH AMERICA ELECTRIC TRUCK MARKET, BATTERY PRICES YOY GROWTH RATE, 2016 – 2026
  1. Figure 7:  
  2. NORTH AMERICA ELECTRIC TRUCK MARKET, LPI YOY GROWTH RATE, 2016 – 2026
  1. Figure 8:  
  2. NORTH AMERICA ELECTRIC TRUCK MARKET, ELECTRIFICATION IMPACT, VOLUME, YOY GROWTH RATE, PERCENT, 2016 – 2026
  1. Figure 9:  
  2. NORTH AMERICA ELECTRIC TRUCK MARKET, NEW XEV MODELS ANNOUNCED, VOLUME, YOY GROWTH RATE, UNITS, 2016 – 2026
  1. Figure 10:  
  2. NORTH AMERICA ELECTRIC TRUCK MARKET, CHARGING STATIONS DEPLOYMENT, VOLUME, YOY GROWTH RATE, UNITS, 2016 – 2026
  1. Figure 11:  
  2. NORTH AMERICA ELECTRIC TRUCK MARKET, VOLUME IN UNITS, 2016 – 2026
  1. Figure 12:  
  2. NORTH AMERICA ELECTRIC TRUCK MARKET, VALUE IN USD, 2016 – 2026
  1. Figure 13:  
  2. NORTH AMERICA ELECTRIC TRUCK MARKET, BY SUB BODY TYPE, BY VOLUME IN UNITS, 2016-2028
  1. Figure 14:  
  2. NORTH AMERICA ELECTRIC TRUCK MARKET, BY SUB BODY TYPE, BY VALUE IN USD, 2016-2028
  1. Figure 15:  
  2. NORTH AMERICA ELECTRIC TRUCK MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2016 - 2028
  1. Figure 16:  
  2. NORTH AMERICA ELECTRIC TRUCK MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2016 - 2028
  1. Figure 17:  
  2. NORTH AMERICA ELECTRIC TRUCK MARKET, BY HEAVY-DUTY COMMERCIAL TRUCKS, BY VOLUME IN UNITS, 2016-2028
  1. Figure 18:  
  2. NORTH AMERICA ELECTRIC TRUCK MARKET, BY HEAVY-DUTY COMMERCIAL TRUCKS, BY VALUE IN USD, 2016-2028
  1. Figure 19:  
  2. NORTH AMERICA ELECTRIC TRUCK MARKET MARKET, SHARE(%), BY FUEL TYPE, 2021 - 2028
  1. Figure 20:  
  2. NORTH AMERICA ELECTRIC TRUCK MARKET, BY LIGHT COMMERCIAL PICK-UP TRUCKS, BY VOLUME IN UNITS, 2016-2028
  1. Figure 21:  
  2. NORTH AMERICA ELECTRIC TRUCK MARKET, BY LIGHT COMMERCIAL PICK-UP TRUCKS, BY VALUE IN USD, 2016-2028
  1. Figure 22:  
  2. NORTH AMERICA ELECTRIC TRUCK MARKET MARKET, SHARE(%), BY FUEL TYPE, 2021 - 2028
  1. Figure 23:  
  2. NORTH AMERICA ELECTRIC TRUCK MARKET, BY MEDIUM-DUTY COMMERCIAL TRUCKS, BY VOLUME IN UNITS, 2016-2028
  1. Figure 24:  
  2. NORTH AMERICA ELECTRIC TRUCK MARKET, BY MEDIUM-DUTY COMMERCIAL TRUCKS, BY VALUE IN USD, 2016-2028
  1. Figure 25:  
  2. NORTH AMERICA ELECTRIC TRUCK MARKET MARKET, SHARE(%), BY FUEL TYPE, 2021 - 2028
  1. Figure 26:  
  2. NORTH AMERICA ELECTRIC TRUCK MARKET, BY FUEL TYPE, BY VOLUME IN UNITS, 2016-2028
  1. Figure 27:  
  2. NORTH AMERICA ELECTRIC TRUCK MARKET, BY FUEL TYPE, BY VALUE IN USD, 2016-2028
  1. Figure 28:  
  2. NORTH AMERICA ELECTRIC TRUCK MARKET MARKET, SHARE(%), BY FUEL TYPE, 2016 - 2028
  1. Figure 29:  
  2. NORTH AMERICA ELECTRIC TRUCK MARKET MARKET, SHARE(%), BY FUEL TYPE, 2016 - 2028
  1. Figure 30:  
  2. NORTH AMERICA ELECTRIC TRUCK MARKET, BY BEV, BY VOLUME IN UNITS, 2016-2028
  1. Figure 31:  
  2. NORTH AMERICA ELECTRIC TRUCK MARKET, BY BEV, BY VALUE IN USD, 2016-2028
  1. Figure 32:  
  2. NORTH AMERICA ELECTRIC TRUCK MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2021 - 2028
  1. Figure 33:  
  2. NORTH AMERICA ELECTRIC TRUCK MARKET, BY FCEV, BY VOLUME IN UNITS, 2016-2028
  1. Figure 34:  
  2. NORTH AMERICA ELECTRIC TRUCK MARKET, BY FCEV, BY VALUE IN USD, 2016-2028
  1. Figure 35:  
  2. NORTH AMERICA ELECTRIC TRUCK MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2021 - 2028
  1. Figure 36:  
  2. NORTH AMERICA ELECTRIC TRUCK MARKET, BY HEV, BY VOLUME IN UNITS, 2016-2028
  1. Figure 37:  
  2. NORTH AMERICA ELECTRIC TRUCK MARKET, BY HEV, BY VALUE IN USD, 2016-2028
  1. Figure 38:  
  2. NORTH AMERICA ELECTRIC TRUCK MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2021 - 2028
  1. Figure 39:  
  2. NORTH AMERICA ELECTRIC TRUCK MARKET, BY PHEV, BY VOLUME IN UNITS, 2016-2028
  1. Figure 40:  
  2. NORTH AMERICA ELECTRIC TRUCK MARKET, BY PHEV, BY VALUE IN USD, 2016-2028
  1. Figure 41:  
  2. NORTH AMERICA ELECTRIC TRUCK MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2021 - 2028
  1. Figure 42:  
  2. NORTH AMERICA ELECTRIC TRUCK MARKET, BY COUNTRY, BY VOLUME IN UNITS, 2016-2028
  1. Figure 43:  
  2. NORTH AMERICA ELECTRIC TRUCK MARKET, BY COUNTRY, BY VALUE IN USD, 2016-2028
  1. Figure 44:  
  2. NORTH AMERICA ELECTRIC TRUCK MARKET MARKET, SHARE(%), BY COUNTRY, 2016 - 2028
  1. Figure 45:  
  2. NORTH AMERICA ELECTRIC TRUCK MARKET MARKET, SHARE(%), BY COUNTRY, 2016 - 2028
  1. Figure 46:  
  2. NORTH AMERICA ELECTRIC TRUCK MARKET, BY CANADA, BY VOLUME IN UNITS, 2016-2028
  1. Figure 47:  
  2. NORTH AMERICA ELECTRIC TRUCK MARKET, BY CANADA, BY VALUE IN USD, 2016-2028
  1. Figure 48:  
  2. NORTH AMERICA ELECTRIC TRUCK MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2021 - 2028
  1. Figure 49:  
  2. NORTH AMERICA ELECTRIC TRUCK MARKET, BY MEXICO, BY VOLUME IN UNITS, 2016-2028
  1. Figure 50:  
  2. NORTH AMERICA ELECTRIC TRUCK MARKET, BY MEXICO, BY VALUE IN USD, 2016-2028
  1. Figure 51:  
  2. NORTH AMERICA ELECTRIC TRUCK MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2021 - 2028
  1. Figure 52:  
  2. NORTH AMERICA ELECTRIC TRUCK MARKET, BY US, BY VOLUME IN UNITS, 2016-2028
  1. Figure 53:  
  2. NORTH AMERICA ELECTRIC TRUCK MARKET, BY US, BY VALUE IN USD, 2016-2028
  1. Figure 54:  
  2. NORTH AMERICA ELECTRIC TRUCK MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2021 - 2028
  1. Figure 55:  
  2. NORTH AMERICA ELECTRIC TRUCK MARKET, BY REST-OF-NORTH AMERICA, BY VOLUME IN UNITS, 2016-2028
  1. Figure 56:  
  2. NORTH AMERICA ELECTRIC TRUCK MARKET, BY REST-OF-NORTH AMERICA, BY VALUE IN USD, 2016-2028
  1. Figure 57:  
  2. NORTH AMERICA ELECTRIC TRUCK MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2021 - 2028
  1. Figure 58:  
  2. NORTH AMERICA ELECTRIC TRUCK MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2018 - 2021
  1. Figure 59:  
  2. NORTH AMERICA ELECTRIC TRUCK MARKET, MOST ADOPTED STRATEGIES, 2018 - 2021
  1. Figure 60:  
  2. NORTH AMERICA ELECTRIC TRUCK MARKET SHARE(%), BY MAJOR PLAYERS, 2021

North America Electric Truck Industry Segmentation

Trucks are covered as segments by Body Type. BEV, FCEV, HEV, PHEV are covered as segments by Fuel Type. Canada, Mexico, US, Rest-of-North America are covered as segments by Country.
Body Type
Trucks
Heavy-duty Commercial Trucks
Light Commercial Pick-up Trucks
Medium-duty Commercial Trucks
Fuel Type
BEV
FCEV
HEV
PHEV
Country
Canada
Mexico
US
Rest-of-North America
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Market Definition

  • Body Type - A truck or lorry is a motor vehicle designed to transport cargo, carry specialized payloads, or perform other utilitarian work.
  • Engine Type - Hybrid and electric vehicles are vehicles that run on batteries and use one or more electric motors for propulsion. Under this category, electric buses have been included.
  • Fuel Type - Hybrid and electric vehicles include HEV, PHEV, BEV, and FCEV.
  • Sub Body Type - Under this category heavy-duty commercial trucks, light commercial pickup trucks, and medium-duty commercial trucks have been included.
  • Vehicle Type - Commercial vehicles are motorized road vehicles designed for transporting people or goods. The category includes Trucks.
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Research Methodology

Mordor Intelligence follows a four-step methodology in all our reports.

  • Step-1: Identify Key Variables: In order to build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built on the basis of these variables.
  • Step-2: Build a Market Model: Market-size estimations for the historical and forecast years have been provided in revenue and volume terms. For sales conversion to volume, the average selling price (ASP) is kept constant throughout the forecast period for each country, and inflation is not a part of the pricing.
  • Step-3: Validate and Finalize: In this important step, all market numbers, variables and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
  • Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms
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North America Electric Truck Market Research FAQs

The North America Electric Truck Market size is expected to reach USD 16.66 billion in 2024 and grow at a CAGR of 31.15% to reach USD 64.65 billion by 2029.

In 2024, the North America Electric Truck Market size is expected to reach USD 16.66 billion.

BYD Co. Ltd., Chevrolet, Ford Motors Company, Mitsubishi Fuso Truck and Bus Corporation and Rivian Automotive, LLC are the major companies operating in the North America Electric Truck Market.

In the North America Electric Truck Market, the Heavy-duty Commercial Trucks segment accounts for the largest share by sub body type.

In 2024, US accounts for the largest share by country in the North America Electric Truck Market.

In 2023, the North America Electric Truck Market size was estimated at USD 12.56 billion. The report covers the North America Electric Truck Market historical market size for years: 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the North America Electric Truck Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

North America Electric Truck Industry Report

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

North America Electric Truck Report Snapshots

North America Electric Truck Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029