United States Electric Pick-up Trucks Market Size and Share
Market Overview
| Study Period | 2017 - 2029 |
|---|---|
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2029 |
| Market Size (2025) | USD 19.42 Billion |
| Market Size (2029) | USD 56.9 Billion |
| Growth Rate (2025 - 2029) | 30.84% CAGR |
| Market Concentration | High |
Major Players *Disclaimer: Major Players sorted in no particular order Image © Mordor Intelligence. Reuse requires attribution under CC BY 4.0. | |
United States Electric Pick-up Trucks Market Analysis by Mordor Intelligence
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 and Insights
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 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 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
- 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
- Rising demand and strategic product launches drive the electric vehicle market in the US.
- The United States remained a net crude oil importer, importing about 6.28 million bpd from 80 countries
- The US exhibits remarkable economic resilience and growth, driven by factors like robust financial markets, technological advancements, and adaptable policies
- The United States grapples with fluctuating inflation but aims for stability for long-term economic leadership
- 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
- Decreasing battery pack prices and government initiatives drive the US electric vehicle market
- The United States remained a net crude oil importer in 2022, importing about 6.28 million bpd of crude oil 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.
Competitive Landscape
Top Companies in United States Electric Pick-up Trucks Market
The electric pickup truck market is characterized by intense competition among established automotive giants and innovative newcomers. Companies are heavily investing in research and development to enhance battery technology, improve range capabilities, and introduce advanced driver assistance features. Strategic partnerships with technology providers and battery manufacturers have become increasingly common to accelerate innovation and market penetration. Operational agility is demonstrated through flexible manufacturing facilities that can adapt to varying demand levels and model configurations. Companies are also expanding their charging infrastructure networks and service capabilities to enhance the ownership experience. Product differentiation strategies focus on unique features like bidirectional charging, off-road capabilities, and specialized commercial applications, while strategic moves include vertical integration of supply chains and development of proprietary technologies.
Market Dominated by Traditional Auto Giants
The U.S. electric pickup truck market exhibits a relatively concentrated structure dominated by established automotive manufacturers who have successfully leveraged their existing production capabilities and brand recognition to capture significant market share. These incumbent players benefit from extensive dealer networks, established service infrastructure, and deep relationships with suppliers. While traditional automakers lead the market, several specialized electric vehicle manufacturers have emerged as significant challengers, bringing innovative designs and technologies to the segment. The market has witnessed strategic collaborations between established players and technology companies, particularly in areas of battery development and autonomous driving capabilities.
The competitive landscape is evolving through strategic acquisitions and partnerships, as companies seek to strengthen their technological capabilities and market presence. Traditional automakers are acquiring or investing in electric vehicle startups to accelerate their electrification initiatives, while newer entrants are forming alliances with established players to gain manufacturing expertise and market access. The industry is seeing increased vertical integration efforts, with companies investing in battery production facilities and charging infrastructure to secure their supply chains and enhance customer experience. This consolidation trend is expected to continue as companies seek economies of scale and technological advantages.
Innovation and Infrastructure Drive Future Success
Success in the electric pickup truck market increasingly depends on companies' ability to balance innovation with scalability while maintaining competitive pricing. Incumbent players must focus on accelerating their electric vehicle development programs while leveraging their existing manufacturing expertise and distribution networks. For new entrants, differentiation through unique features and targeted market segments offers a path to growth. Companies must also invest in charging infrastructure development and maintenance services to address range anxiety concerns and enhance customer confidence. The ability to secure stable supply chains for critical components, particularly batteries, will be crucial for maintaining competitive advantages.
The market's future will be shaped by companies' ability to adapt to evolving regulatory requirements and changing consumer preferences. Success factors include developing robust after-sales service networks, implementing effective battery recycling programs, and maintaining strong relationships with fleet operators and commercial customers. Companies must also consider potential market disruptions from emerging technologies and new entrants while maintaining flexibility in their production systems. The ability to offer comprehensive mobility solutions, including financing options and fleet management services, will become increasingly important for maintaining market position. Regulatory compliance, particularly regarding emissions standards and safety requirements, will continue to influence product development and market strategies.
United States Electric Pick-up Trucks Industry Leaders
Canoo Inc.
Ford Motor Company
General Motors Company
Rivian Automotive Inc.
Toyota Motor Corporation
- *Disclaimer: Major Players sorted in no particular order
United States Electric Pick-up Trucks Market Report Scope
BEV, HEV, PHEV are covered as segments by Fuel Category.| BEV |
| HEV |
| PHEV |
| Fuel Category | BEV |
| HEV | |
| PHEV |
Market Definition
- Vehicle Type - The category includes Light Commercial Vehicle.
- Vehicle Body Type - This include Light Commercial Pick-up Trucks category.
- Fuel Category - The category exclusively covers electric propulsion systems, including various types such as HEV (Hybrid Electric Vehicles), PHEV (Plug-in Hybrid Electric Vehicles), BEV (Battery Electric Vehicles), and FCEV (Fuel Cell Electric Vehicles).
| Keyword | Definition |
|---|---|
| Electric Vehicle (EV) | A vehicle which uses one or more electric motors for propulsion. Includes cars, buses, and trucks. This term includes all-electric vehicles or battery electric vehicles and plug-in hybrid electric vehicles. |
| BEV | A BEV relies completely on a battery and a motor for propulsion. The battery in the vehicle must be charged by plugging it into an outlet or public charging station. BEVs do not have an ICE and hence are pollution-free. They have a low cost of operation and reduced engine noise as compared to conventional fuel engines. However, they have a shorter range and higher prices than their equivalent gasoline models. |
| PEV | A plug-in electric vehicle is an electric vehicle that can be externally charged and generally includes all-electric vehicles as well as plug-in hybrids. |
| Plug-in Hybrid EV | A vehicle that can be powered either by an ICE or an electric motor. In contrast to normal hybrid EVs, they can be charged externally. |
| Internal combustion engine | An engine in which the burning of fuels occurs in a confined space called a combustion chamber. Usually run with gasoline/petrol or diesel. |
| Hybrid EV | A vehicle powered by an ICE in combination with one or more electric motors that use energy stored in batteries. These are continually recharged with power from the ICE and regenerative braking. |
| Commercial Vehicles | Commercial vehicles are motorized road vehicles designed for transporting people or goods. The category includes light commercial vehicles (LCVs) and medium and heavy-duty vehicles (M&HCV). |
| Passenger Vehicles | Passenger cars are electric motor– or engine-driven vehicles with at least four wheels. These vehicles are used for the transport of passengers and comprise no more than eight seats in addition to the driver’s seat. |
| Light Commercial Vehicles | Commercial vehicles that weigh less than 6,000 lb (Class 1) and in the range of 6,001–10,000 lb (Class 2) are covered under this category. |
| M&HDT | Commercial vehicles that weigh in the range of 10,001–14,000 lb (Class 3), 14,001–16,000 lb (Class 4), 16,001–19,500 lb (Class 5), 19,501–26,000 lb (Class 6), 26,001–33,000 lb (Class 7) and above 33,001 lb (Class 8) are covered under this category. |
| Bus | A mode of transportation that typically refers to a large vehicle designed to carry passengers over long distances. This includes transit bus, school bus, shuttle bus, and trolleybuses. |
| Diesel | It includes vehicles that use diesel as their primary fuel. A diesel engine vehicle have a compression-ignited injection system rather than the spark-ignited system used by most gasoline vehicles. In such vehicles, fuel is injected into the combustion chamber and ignited by the high temperature achieved when gas is greatly compressed. |
| Gasoline | It includes vehicles that use gas/petrol as their primary fuel. A gasoline car typically uses a spark-ignited internal combustion engine. In such vehicles, fuel is injected into either the intake manifold or the combustion chamber, where it is combined with air, and the air/fuel mixture is ignited by the spark from a spark plug. |
| LPG | It includes vehicles that use LPG as their primary fuel. Both dedicated and bi-fuel LPG vehicles are considered under the scope of the study. |
| CNG | It includes vehicles that use CNG as their primary fuel. These are vehicles that operate like gasoline-powered vehicles with spark-ignited internal combustion engines. |
| HEV | All the electric vehicles that use batteries and an internal combustion engine (ICE) as their primary source for propulsion are considered under this category. HEVs generally use a diesel-electric powertrain and are also known as hybrid diesel-electric vehicles. An HEV converts the vehicle momentum (kinetic energy) into electricity that recharges the battery when the vehicle slows down or stops. The battery of HEV cannot be charged using plug-in devices. |
| PHEV | PHEVs are powered by a battery as well as an ICE. The battery can be charged through either regenerative breaking using the ICE or by plugging into some external charging source. PHEVs have a better range than BEVs but are comparatively less eco-friendly. |
| Hatchback | These are compact-sized cars with a hatch-type door provided at the rear end. |
| Sedan | These are usually two- or four-door passenger cars, with a separate area provided at the rear end for luggage. |
| SUV | Popularly known as SUVs, these cars come with four-wheel drive, and usually have high ground clearance. These cars can also be used as off-road vehicles. |
| MPV | These are multi-purpose vehicles (also called minivans) designed to carry a larger number of passengers. They carry between five and seven people and have room for luggage too. They are usually taller than the average family saloon car, to provide greater headroom and ease of access, and they are usually front-wheel drive. |
Research Methodology
Mordor Intelligence follows a four-step methodology in all its reports.
- Step-1: Identify Key Variables: 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 based on 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. Market revenue is calculated by multiplying the sales volume with their respective average selling price (ASP). While estimating ASP factors like average inflation, market demand shift, manufacturing cost, technological advancement, and varying consumer preference, among others have been taken into account.
- 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.
