United States Electric Pick-up Trucks Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029

United States Electric Pick-up Trucks Market Analysis

The United States Electric Pick-up Trucks Market size is estimated at 19.42 billion USD in 2025, and is expected to reach 56.9 billion USD by 2029, growing at a CAGR of 30.84% during the forecast period (2025-2029).

The United States electric pick-up trucks industry is experiencing transformative changes driven by stringent regulatory frameworks and sustainability initiatives. The implementation of the Safer Affordable Fuel-Efficient (SAFE) Vehicles Rule in 2024 has established new standards for corporate average fuel economy and greenhouse gas emissions for both passenger and light trucks. The Zero Emission Vehicles (ZEV) program has set an ambitious target of putting 12 million ZEVs on the road by 2030, compelling manufacturers to accelerate their electric vehicle production. This regulatory push has catalyzed significant investments in electric vehicle technology and infrastructure development. Major fleet operators are actively embracing this transition, with companies like FedEx committing to achieve 50% electric vehicles in their new vehicle acquisitions by 2025 and 100% by 2030.

Strategic partnerships and technological innovations are reshaping the competitive landscape of the electric pick-up truck market. In January 2023, Ford collaborated with ADT to launch Canopy, an innovative venture offering AI-powered security cameras and mobile app integration for trucks, demonstrating the industry's focus on value-added features beyond basic transportation. The partnership between Aurora Innovation Inc. and Toyota Motor Corp., along with its supplier Denso Corp., announced in February 2023, represents a significant step toward mass-producing autonomous electric commercial vehicles. These collaborations are accelerating the development of advanced technologies and creating new value propositions for consumers and fleet operators alike.

The market is witnessing substantial investments in manufacturing capabilities and supply chain optimization. General Motors' strategic partnership with POSCO Chemical to establish a U.S. factory for processing critical battery materials demonstrates the industry's commitment to localizing the supply chain. This vertical integration approach is becoming increasingly common as manufacturers seek to secure their supply chains and reduce dependencies on international suppliers. The industry is also experiencing a surge in production capacity expansions, with both traditional automakers and new entrants establishing dedicated electric vehicle manufacturing facilities across the United States.

The evolution of the electric pick-up truck market is closely tied to the broader transformation of the logistics and e-commerce sectors. The rapid growth of e-commerce, which reached USD 768 billion in retail sales in 2021 with a year-over-year growth of 19.25%, is driving increased demand for sustainable delivery solutions. This trend is prompting manufacturers to develop specialized electric pickup trucks tailored to the unique requirements of last-mile delivery and urban logistics. The industry is also witnessing the emergence of new business models, including subscription-based services and fleet management solutions, as companies seek to capitalize on the growing demand for flexible and sustainable electric transportation solutions.

United States Electric Pick-up Trucks Market Trends

Rapid growth in electric vehicle sales driven by government initiatives and increasing demand in the US

• The United States has witnessed a significant surge in the adoption of electric vehicles (EVs) in recent years. This uptick can be attributed to a heightened awareness of EVs, growing environmental concerns, and the implementation of government regulations. Notably, in 2016, California introduced the Zero-Emission Vehicle (ZEV) program aimed at curbing carbon emissions and improving air quality. This initiative has not only spurred the growth of electric cars within California but has also influenced other states to adopt similar ZEV regulations. Consequently, the nation saw a remarkable 634% surge in demand for battery electric vehicles (BEVs) from 2017 to 2022.
• The demand for electric commercial vehicles in the United States is also on the rise. Factors such as the booming e-commerce industry, increased logistics activities, and governmental initiatives for cleaner transportation have fueled this growth. In a significant move, the governor of New York signed the Advanced Clean Truck (ACT) Rule in September 2021. This rule sets a target for all new light-duty vehicles to be zero-emission by 2035 and the same for medium- and heavy-duty vehicles by 2045. As a result, the United States witnessed a 21% surge in demand for electric commercial vehicles in 2022 compared to the previous year.
• Governmental efforts, including rebates, subsidies, and strategic plans, are further bolstering the electrification of vehicles nationwide. In May 2022, President Biden unveiled a USD 3 billion plan to expedite domestic battery manufacturing, with the aim of transitioning gas-powered vehicles to electric ones. This push is expected to significantly boost electric mobility in the country, particularly during 2024-2030, thereby amplifying the demand for battery packs.

OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT

• The US population continues to grow steadily, driven by immigration and economic opportunities that require strategic planning
• The US exhibits remarkable economic resilience and growth, driven by factors like robust financial markets, technological advancements, and adaptable policies
• The CVP is expected to experience consistent growth, driven by technological advancements, a focus on sustainable transportation, and the US's commitment to automotive innovation and reducing carbon emissions
• The United States grapples with fluctuating inflation but aims for stability for long-term economic leadership
• The recent US auto interest rate of 3.6% reflects fluctuations influenced by monetary policies, credit demand, and economic conditions, with a modest increase indicating optimism in the post-pandemic recovery
• Evolution of Mobility as a Service (MaaS) in the United States: a focus on shared rides, car rentals, car-sharing, and ride-hailing and taxi services
• The United States achieved a milestone of 128,000 EV Charging Stations in 2022, and the country is poised for continued growth in green mobility
• Decreasing battery pack prices and government initiatives drive the US electric vehicle market
• Rising demand and strategic product launches drive the electric vehicle market in the US.
• The United States remained a net crude oil importer in 2022, importing about 6.28 million bpd of crude oil from 80 countries
• The United States remained a net crude oil importer, importing about 6.28 million bpd from 80 countries

Segment Analysis: Fuel Category

BEV Segment in US Electric Pick-up Trucks Market

Battery Electric Vehicles (BEVs) have emerged as the dominant force in the US electric pickup truck market, commanding approximately 60% of the total market share in 2024. This substantial market presence is driven by several key factors, including increasing consumer preference for zero-emission vehicles, significant advancements in battery technology, and expanding charging infrastructure across the United States. The segment's growth is further bolstered by favorable government policies and incentives, particularly the federal tax credits of up to $7,500 for electric vehicles. Major automotive manufacturers have recognized this potential, with companies like Ford, Rivian, and General Motors introducing innovative battery electric truck models equipped with advanced features and impressive range capabilities. The segment is projected to maintain its strong growth trajectory, with an expected growth rate of approximately 36% from 2024 to 2029, driven by continuous improvements in battery technology, decreasing battery costs, and expanding charging networks across the country.

Remaining Segments in Fuel Category

The Hybrid Electric Vehicle (HEV) and Plug-in Hybrid Electric Vehicle (PHEV) segments represent important alternatives in the US electric pickup truck market, each offering unique advantages to different consumer segments. HEVs continue to attract customers seeking a balance between conventional and electric powertrains, providing improved fuel efficiency without the range anxiety associated with pure electric vehicles. Meanwhile, PHEVs serve as a strategic bridge technology, offering the benefits of both electric and conventional powertrains with the flexibility to operate in pure electric mode for shorter trips while maintaining the capability for longer journeys using the internal combustion engine. These segments particularly appeal to consumers in regions with developing charging infrastructure or those requiring the versatility of dual power sources. Both HEV and PHEV segments continue to evolve with technological advancements, improved battery systems, and enhanced powertrain integration, contributing to the overall growth and diversification of the electric light duty truck market.