North America Electric Truck Market Size
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Study Period: | 2016 - 2028 |
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Largest Share by Sub Body Type: | Heavy-duty Commercial Trucks |
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Largest Share by Country: | US |
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CAGR: | -2.37 % |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
North America Electric Truck Market Analysis
The North America Electric Truck Market is projected to register a CAGR of -2.37%
- 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 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 | |||||
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| Fuel Type | |
| BEV | |
| FCEV | |
| HEV | |
| PHEV |
| Country | |
| Canada | |
| Mexico | |
| US | |
| Rest-of-North America |
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.
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US is the largest segment by Country.
To understand geography trends, Download Sample Report
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
BYD Co. Ltd.
Chevrolet
Ford Motors Company
Mitsubishi Fuso Truck and Bus Corporation
Rivian Automotive, LLC
*Disclaimer: Major Players sorted in no particular order
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
EXECUTIVE SUMMARY & KEY FINDINGS
REPORT OFFERS
1. INTRODUCTION
1.1. Study Assumptions & Market Definition
1.2. Scope of the Study
1.3. Research Methodology
2. KEY INDUSTRY TRENDS
2.1. Population
2.2. GDP
2.3. CVP
2.4. Inflation Rate
2.5. Interest Rate For Auto Loans
2.6. Battery Price (per Kwh)
2.7. Logistics Performance Index
2.8. Electrification Impact
2.9. New XEV Models Announced
2.10. Charging Stations Deployment
2.11. Regulatory Framework
2.12. Value Chain & Distribution Channel Analysis
3. MARKET SEGMENTATION
3.1. Body Type
3.1.1. Trucks
3.1.1.1. Heavy-duty Commercial Trucks
3.1.1.2. Light Commercial Pick-up Trucks
3.1.1.3. Medium-duty Commercial Trucks
3.2. Fuel Type
3.2.1. BEV
3.2.2. FCEV
3.2.3. HEV
3.2.4. PHEV
3.3. Country
3.3.1. Canada
3.3.2. Mexico
3.3.3. US
3.3.4. Rest-of-North America
4. COMPETITIVE LANDSCAPE
4.1. Key Strategic Moves
4.2. Market Share Analysis
4.3. Company Landscape
4.4. Company Profiles
4.4.1. BYD Co. Ltd.
4.4.2. Chevrolet
4.4.3. Ford Motors Company
4.4.4. Mitsubishi Fuso Truck and Bus Corporation
4.4.5. Nikola Corporation
4.4.6. Orange EV
4.4.7. RAM
4.4.8. Rivian Automotive, LLC
4.4.9. Tesla Inc.
5. KEY STRATEGIC QUESTIONS FOR VEHICLES CEOS
6. APPENDIX
6.1. Global Overview
6.1.1. Overview
6.1.2. Porter’s Five Forces Framework
6.1.3. Global Value Chain Analysis
6.1.4. Market Dynamics (DROs)
6.2. Sources & References
6.3. List of Tables & Figures
6.4. Primary Insights
6.5. Data Pack
6.6. Glossary of Terms
List of Tables & Figures
Figure 1:
NORTH AMERICA ELECTRIC TRUCK MARKET, POPULATION YOY GROWTH RATE, MILLION UNITS, 2016 – 2026
Figure 2:
NORTH AMERICA ELECTRIC TRUCK MARKET, GDP YOY GROWTH RATE, USD MILLION, 2016 – 2026
Figure 3:
NORTH AMERICA ELECTRIC TRUCK MARKET, CVP YOY GROWTH RATE, 2016 – 2027
Figure 4:
NORTH AMERICA ELECTRIC TRUCK MARKET, INFLATION RATE YOY GROWTH RATE, PERCENT, 2016 – 2026
Figure 5:
NORTH AMERICA ELECTRIC TRUCK MARKET, INTEREST RATE FOR AUTO LOANS YOY GROWTH RATE, PERCENT, 2016 – 2026
Figure 6:
NORTH AMERICA ELECTRIC TRUCK MARKET, BATTERY PRICES YOY GROWTH RATE, 2016 – 2026
Figure 7:
NORTH AMERICA ELECTRIC TRUCK MARKET, LPI YOY GROWTH RATE, 2016 – 2026
Figure 8:
NORTH AMERICA ELECTRIC TRUCK MARKET, ELECTRIFICATION IMPACT, VOLUME, YOY GROWTH RATE, PERCENT, 2016 – 2026
Figure 9:
NORTH AMERICA ELECTRIC TRUCK MARKET, NEW XEV MODELS ANNOUNCED, VOLUME, YOY GROWTH RATE, UNITS, 2016 – 2026
Figure 10:
NORTH AMERICA ELECTRIC TRUCK MARKET, CHARGING STATIONS DEPLOYMENT, VOLUME, YOY GROWTH RATE, UNITS, 2016 – 2026
Figure 11:
NORTH AMERICA ELECTRIC TRUCK MARKET, VOLUME IN UNITS, 2016 – 2026
Figure 12:
NORTH AMERICA ELECTRIC TRUCK MARKET, VALUE IN USD, 2016 – 2026
Figure 13:
NORTH AMERICA ELECTRIC TRUCK MARKET, BY SUB BODY TYPE, BY VOLUME IN UNITS, 2016-2028
Figure 14:
NORTH AMERICA ELECTRIC TRUCK MARKET, BY SUB BODY TYPE, BY VALUE IN USD, 2016-2028
Figure 15:
NORTH AMERICA ELECTRIC TRUCK MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2016 - 2028
Figure 16:
NORTH AMERICA ELECTRIC TRUCK MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2016 - 2028
Figure 17:
NORTH AMERICA ELECTRIC TRUCK MARKET, BY HEAVY-DUTY COMMERCIAL TRUCKS, BY VOLUME IN UNITS, 2016-2028
Figure 18:
NORTH AMERICA ELECTRIC TRUCK MARKET, BY HEAVY-DUTY COMMERCIAL TRUCKS, BY VALUE IN USD, 2016-2028
Figure 19:
NORTH AMERICA ELECTRIC TRUCK MARKET MARKET, SHARE(%), BY FUEL TYPE, 2021 - 2028
Figure 20:
NORTH AMERICA ELECTRIC TRUCK MARKET, BY LIGHT COMMERCIAL PICK-UP TRUCKS, BY VOLUME IN UNITS, 2016-2028
Figure 21:
NORTH AMERICA ELECTRIC TRUCK MARKET, BY LIGHT COMMERCIAL PICK-UP TRUCKS, BY VALUE IN USD, 2016-2028
Figure 22:
NORTH AMERICA ELECTRIC TRUCK MARKET MARKET, SHARE(%), BY FUEL TYPE, 2021 - 2028
Figure 23:
NORTH AMERICA ELECTRIC TRUCK MARKET, BY MEDIUM-DUTY COMMERCIAL TRUCKS, BY VOLUME IN UNITS, 2016-2028
Figure 24:
NORTH AMERICA ELECTRIC TRUCK MARKET, BY MEDIUM-DUTY COMMERCIAL TRUCKS, BY VALUE IN USD, 2016-2028
Figure 25:
NORTH AMERICA ELECTRIC TRUCK MARKET MARKET, SHARE(%), BY FUEL TYPE, 2021 - 2028
Figure 26:
NORTH AMERICA ELECTRIC TRUCK MARKET, BY FUEL TYPE, BY VOLUME IN UNITS, 2016-2028
Figure 27:
NORTH AMERICA ELECTRIC TRUCK MARKET, BY FUEL TYPE, BY VALUE IN USD, 2016-2028
Figure 28:
NORTH AMERICA ELECTRIC TRUCK MARKET MARKET, SHARE(%), BY FUEL TYPE, 2016 - 2028
Figure 29:
NORTH AMERICA ELECTRIC TRUCK MARKET MARKET, SHARE(%), BY FUEL TYPE, 2016 - 2028
Figure 30:
NORTH AMERICA ELECTRIC TRUCK MARKET, BY BEV, BY VOLUME IN UNITS, 2016-2028
Figure 31:
NORTH AMERICA ELECTRIC TRUCK MARKET, BY BEV, BY VALUE IN USD, 2016-2028
Figure 32:
NORTH AMERICA ELECTRIC TRUCK MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2021 - 2028
Figure 33:
NORTH AMERICA ELECTRIC TRUCK MARKET, BY FCEV, BY VOLUME IN UNITS, 2016-2028
Figure 34:
NORTH AMERICA ELECTRIC TRUCK MARKET, BY FCEV, BY VALUE IN USD, 2016-2028
Figure 35:
NORTH AMERICA ELECTRIC TRUCK MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2021 - 2028
Figure 36:
NORTH AMERICA ELECTRIC TRUCK MARKET, BY HEV, BY VOLUME IN UNITS, 2016-2028
Figure 37:
NORTH AMERICA ELECTRIC TRUCK MARKET, BY HEV, BY VALUE IN USD, 2016-2028
Figure 38:
NORTH AMERICA ELECTRIC TRUCK MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2021 - 2028
Figure 39:
NORTH AMERICA ELECTRIC TRUCK MARKET, BY PHEV, BY VOLUME IN UNITS, 2016-2028
Figure 40:
NORTH AMERICA ELECTRIC TRUCK MARKET, BY PHEV, BY VALUE IN USD, 2016-2028
Figure 41:
NORTH AMERICA ELECTRIC TRUCK MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2021 - 2028
Figure 42:
NORTH AMERICA ELECTRIC TRUCK MARKET, BY COUNTRY, BY VOLUME IN UNITS, 2016-2028
Figure 43:
NORTH AMERICA ELECTRIC TRUCK MARKET, BY COUNTRY, BY VALUE IN USD, 2016-2028
Figure 44:
NORTH AMERICA ELECTRIC TRUCK MARKET MARKET, SHARE(%), BY COUNTRY, 2016 - 2028
Figure 45:
NORTH AMERICA ELECTRIC TRUCK MARKET MARKET, SHARE(%), BY COUNTRY, 2016 - 2028
Figure 46:
NORTH AMERICA ELECTRIC TRUCK MARKET, BY CANADA, BY VOLUME IN UNITS, 2016-2028
Figure 47:
NORTH AMERICA ELECTRIC TRUCK MARKET, BY CANADA, BY VALUE IN USD, 2016-2028
Figure 48:
NORTH AMERICA ELECTRIC TRUCK MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2021 - 2028
Figure 49:
NORTH AMERICA ELECTRIC TRUCK MARKET, BY MEXICO, BY VOLUME IN UNITS, 2016-2028
Figure 50:
NORTH AMERICA ELECTRIC TRUCK MARKET, BY MEXICO, BY VALUE IN USD, 2016-2028
Figure 51:
NORTH AMERICA ELECTRIC TRUCK MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2021 - 2028
Figure 52:
NORTH AMERICA ELECTRIC TRUCK MARKET, BY US, BY VOLUME IN UNITS, 2016-2028
Figure 53:
NORTH AMERICA ELECTRIC TRUCK MARKET, BY US, BY VALUE IN USD, 2016-2028
Figure 54:
NORTH AMERICA ELECTRIC TRUCK MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2021 - 2028
Figure 55:
NORTH AMERICA ELECTRIC TRUCK MARKET, BY REST-OF-NORTH AMERICA, BY VOLUME IN UNITS, 2016-2028
Figure 56:
NORTH AMERICA ELECTRIC TRUCK MARKET, BY REST-OF-NORTH AMERICA, BY VALUE IN USD, 2016-2028
Figure 57:
NORTH AMERICA ELECTRIC TRUCK MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2021 - 2028
Figure 58:
NORTH AMERICA ELECTRIC TRUCK MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2018 - 2021
Figure 59:
NORTH AMERICA ELECTRIC TRUCK MARKET, MOST ADOPTED STRATEGIES, 2018 - 2021
Figure 60:
NORTH AMERICA ELECTRIC TRUCK MARKET SHARE(%), BY MAJOR PLAYERS, 2021
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.
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
