Exploring the US Electric Truck Market: Insights, Key Drivers, and Major Players
US Electric Truck Key market insights include:
Market Size and Growth: The US Electric Truck Market size is valued at USD 711.42 million in 2023 and is projected to reach USD 13.92 billion by 2030. The market is also estimated to grow at a CAGR of around 36.16% during the forecast period, i.e., 2024-30.
Regional Analysis: Northeast, Mid-West, West, South
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What is driving the growth of the US Electric Truck Market market?
Supportive Administrative Frameworks to Stimulate Market Growth –
In the US, the government significantly focuses on reducing emissions of pollutants like nitrogen oxides and particulate matter. For this, the government is supporting the transition to electric vehicles, as they consider it a key strategy to reduce carbon footprints. In line with this, the administration has introduced various initiatives to increase electric truck adoption.
Market Segmentation
The US Electric Truck Market can be segmented based on several criteria, including:
By Vehicle Type
-Light-Duty Truck–Market Size & Forecast 2019–2030F, Thousand Units
-Medium & Heavy Duty Truck–Market Size & Forecast 2019-2030F, Thousand Units
By Propulsion
-Battery Electric Truck -Market Size & Forecast 2019-2030F, Thousand Units
-Hybrid Electric Truck-Market Size & Forecast 2019-2030F, Thousand Units
-Fuel Cell Electric Truck-Market Size & Forecast 2019-2030F, Thousand Units
By Range
– Up to 150 Miles- Market Size & Forecast 2019-2030F, Thousand Units
– 151-250 Miles- Market Size & Forecast 2019-2030F, Thousand Units
– 251-500 Miles- Market Size & Forecast 2019-2030F, Thousand Units
– >500 Miles- Market Size & Forecast 2019-2030F, Thousand Units
By Battery Type
-Lithium-Ion Batteries – Market Size & Forecast 2019-2030F, Thousand Units
-Lithium-Iron-Phosphate- Market Size & Forecast 2019-2030F, Thousand Units
-Others- Market Size & Forecast 2019-2030F, Thousand Units
By Battery Capacity
-<100 kWh- Market Size & Forecast 2019-2030F, Thousand Units
-100- 200 kWh Market Size & Forecast 2019-2030, Thousand Units
-Above 200 kWh- Market Size & Forecast 2019-2030F, Thousand Units
By Application
-Logistics – Market Size & Forecast 2019-2030F, Thousand Units
-Construction- Market Size & Forecast 2019-2030F, Thousand Units
-Others
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Key Players in the US Electric Truck Market
The US Electric Truck Market is highly competitive, with several key players dominating the landscape. These companies are investing heavily in research and development to stay ahead of the competition and meet the evolving needs of their customers. Some of the prominent players in the US Electric Truck Market include:
- Volvo Trucks
- Stellantis
- Nikola Motor Co.
- Tesla Inc.
- Ford Motor Co.
- General Motors Co.
- Workhorse Group Inc.
- BYD Co. Ltd.
- Nu Ride Inc.
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Questions Addressed in this Study
1.What factors are driving the US Electric Truck Market growth?
2.How is the US Electric Truck Market expected to grow over the next five years?
3.What are the key insights into the current trends in the US Electric Truck Market?
4.What is the current size of the US Electric Truck Market, and how is it projected to change in the future?
6.What is the future outlook for the US Electric Truck Market in terms of technological advancements and market expansion?
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