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US Electric Truck Register CAGR of around 60% during 2021-2026

04-05-2021 07:19 AM CET | Tourism, Cars, Traffic

Press release from: MarkNtel Advisors LLP

US Electric Truck Register CAGR of around 60% during 2021-2026

The US Electric Truck is witnessing an astronomical growth for the past few years owing to the factors such as the introduction of the various supportive initiative by the government in order to promote the sales of the electric truck to curb carbon emission and increasing investment by the electric truck manufacturers in R&D of battery technology. US Electric Truck is expected to register a CAGR of around 60% during 2021-26 owing to burgeoning inclination of the companies towards electrification of heavy-duty trucks, significant decline in the cost of battery and snowballing partnership among the manufacturer to come up with a fast-charging system for electric trucks.

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Key questions answered in the study:
1. What are the current and future trends of the US Electric Truck market?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. What are the future plans and customer expectations of end-users across the region?
4. How the competition has been shaping across the countries followed by their comparative factorial indexing?
5. What are the key growth drivers and challenges for the US Electric Truck market?
6. What are the customer orientation, purchase behavior, and expectations from the Electric Truck companies across various regions?

According to MarkNtel Advisors’ research report “US Electric Truck Market Analysis, 2021”, the US Electric Truck market is anticipated to grow at a CAGR of around 60% during 2021-26. Based on Vehicle Type, Light-Duty Truck acquired the largest share in the US Electric Truck market. The growing investment toward the expansion of charging infrastructure, burgeoning demand for electrified pickup van among various e-commerce companies and launch of technologically high-level range of light-duty electric trucks which use a smaller battery and can be recharge during operation by the automotive manufacturer are further predicted to strongly contribute to the growth of the market in the forthcoming timeline.

“US Electric Truck Market Analysis, 2021” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Electric Truck providers across the region. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.

For detailed analysis, visit:

Logistic Segment Dominated the Market

Based on Application, the Logistic segment dominated the US Electric Truck market. The exponential growth in the retail and e-commerce industry has upsurged the deployment of electric trucks for making deliveries to customers. Key Giants in the industry are also inclining towards embracing sustainable technology thus, planning to deploy electric van in the United States in the forecast period. Apart from this, laid down of various goals by the companies to achieve net-zero logistics-related emissions by 2050 are anticipated to fuel the growth of Electric Truck market in the forecast period as stated in MarkNtel Advisors’ research report “US Electric Truck Market Analysis, 2021”.

According to MarkNtel Advisors’, the key players with a considerable market share in the US Electric Truck market are Chanje Energy Inc., Orange EV, Mitsubishi Fuso Truck & Bus Corp., Nikola Motor Co., Tesla Inc., Ford Motor Co., General Motors Co., Workhorse Group Inc., BYD Co. Ltd., Fiat Chrysler Automobiles N.V. etc.

Market Segmentation:
1. By Vehicle Type (Light-Duty Truck, Medium-Duty Truck, Heavy-Duty Truck)
2. By Propulsion (Battery Electric Vehicle, Hybrid Electric Vehicle, Plug-In Hybrid Electric Vehicle, Fuel Cell Electric Vehicle)
3. By Range (0–150 Miles, 151–250 Miles, 251–500 Miles, >500 Miles)
4. By Battery Capacity (300 kWh)
5. By Application (Logistic, Municipal)
6. By Region (California, New York, Washington, Florida, Texas, Others)
7. By Competitors (Chanje Energy Inc., Orange EV, Mitsubishi Fuso Truck & Bus Corp., Nikola Motor Co., Tesla Inc., Ford Motor Co., General Motors Co., Workhorse Group Inc., BYD Co. Ltd., Fiat Chrysler Automobiles N.V.)

MarkNtel Advisors
1147 88AVE, Delta, British Columbia, BC,V4C,3B8, CANADA
Tel: +1613-707-5086

MarkNtel Advisors is a leading research, consulting and data analytics firm that provides a wide range of strategic reports on diverse industry verticals to a substantial and varied client base that includes multinational corporations, financial institutions, governments, and individuals.

We specialize in niche industries and emerging geographies to support our clients in the formulation of strategies viz. Go to Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, trend analysis, etc. in around 15 industry verticals to enable our clients in identifying attractive investment opportunities and maximizing ROI through an early mover advantage.

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