Market Trends of north america electric truck Industry
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.
Understand The Key Trends Shaping This Market
Download Sample
US is the largest segment by Country.
Get Analysis on Important Geographic Markets
Download Sample
