Product Code: AT11970
Title:
U.S. Electric Truck Market Research Report: By Vehicle Type (Light-Duty Truck, Medium-Duty Truck, Heavy-Duty Truck), Propulsion (Battery Electric Vehicle, Hybrid Electric Vehicle, Plug-In Hybrid Electric Vehicle, Fuel Cell Electric Vehicle), Range (0-150 Miles, 151-250 Miles, 251-500 Miles, >500 Miles), Battery Capacity (300 kWh), Application (Logistics, Municipal) - Industry Analysis and Growth Forecast to 2030.
The U.S. electric truck market is expected to generate a revenue of $15,084.3 by 2030, increasing from $211.5 million in 2019, and the market is expected to witness robust growth of 51.6% CAGR during the forecast period (2020-2030). The market is growing due to the increasing government support for the deployment of electric trucks in the country and the falling process of battery packs. In addition to this, electric trucks are cheaper to maintain and operate as compared to traditional diesel trucks.
On the basis of vehicle type, the U.S. electric truck market is divided into heavy-duty truck (HDT), light-duty truck (LDT), and medium-duty truck (MDT). Out of these, the LTDs are predicted to account for the largest share of the market in 2030, owing to the increasing demand for pickup trucks in the country. In the U.S., LTDs accounted for more than 85% of the sales of commercial vehicles. Other than this, the HDT division is predicted to grow at the fastest pace during the forecast period.
The supportive government policies are the major reason for the growth of the U.S. electric truck market. Governments on both the state and federal level have set strict targets for reducing carbon dioxide and nitrogen oxide emissions from vehicles. Moreover, in California, which is also the largest market for electric trucks in the country, vouchers and funds are being provided for the purchase of electric vehicles. Up to $20 million are supposed to be provided for the same purpose in the state till 2020.
In conclusion, the demand for electric trucks in the U.S. is growing due to the favorable government policies and expansion of the logistics sector.
Table of Contents
Chapter 1. Research Background
- 1.1 Research Objectives
- 1.2 Market Definition
- 1.3 Research Scope
- 1.3.1 Market Segmentation by Vehicle Type
- 1.3.2 Market Segmentation by Propulsion
- 1.3.3 Market Segmentation by Range
- 1.3.4 Market Segmentation by Battery Capacity
- 1.3.5 Market Segmentation by Application
- 1.3.6 Market Segmentation by State
- 1.3.7 Analysis Period
- 1.3.8 Market Data Reporting Unit
- 1.3.8.1 Volume
- 1.3.8.2 Value
- 1.4 Key Stakeholders
Chapter 2. Research Methodology
- 2.1 Secondary Research
- 2.2 Primary Research
- 2.2.1 Breakdown of Primary Research Respondents
- 2.2.1.1 By industry participant
- 2.2.1.2 By company type
- 2.3 Market Size Estimation
- 2.4 Data Triangulation
- 2.5 Assumptions for the Study
Chapter 3. Executive Summary
Chapter 4. Introduction
- 4.1 Definition of Market Segments
- 4.1.1 By Vehicle Type
- 4.1.1.1 LDT
- 4.1.1.2 MDT
- 4.1.1.3 HDT
- 4.1.2 By Propulsion
- 4.1.2.1 BEV
- 4.1.2.2 HEV
- 4.1.2.3 PHEV
- 4.1.2.4 FCEV
- 4.1.3 By Range
- 4.1.3.1 0-150 miles
- 4.1.3.2 151-250 miles
- 4.1.3.3 251-500 miles
- 4.1.3.4 >500 miles
- 4.1.4 By Battery Capacity
- 4.1.4.1 <100 kWh
- 4.1.4.2 100-200 kWh
- 4.1.4.3 201-300 kWh
- 4.1.4.4 >300 kWh
- 4.1.5 By Application
- 4.1.5.1 Logistics
- 4.1.5.2 Municipal
- 4.1.5.3 Others
- 4.2 Value Chain Analysis
- 4.3 Market Dynamics
- 4.3.1 Trends
- 4.3.1.1 Increasing adoption of electric trucks in logistics application
- 4.3.1.2 Rising use of telematics services
- 4.3.2 Drivers
- 4.3.2.1 Low operating and maintenance cost
- 4.3.2.2 Supportive government initiatives
- 4.3.2.3 Declining cost of battery
- 4.3.2.4 Impact analysis of drivers on market forecast
- 4.3.3 Restraints
- 4.3.3.1 High cost of electric trucks
- 4.3.3.2 Technological challenges
- 4.3.3.2.1 Limited electric range
- 4.3.3.2.2 Long charging time
- 4.3.3.3 Inadequate charging infrastructure
- 4.3.3.4 Impact analysis of restraints on market forecast
- 4.3.4 Opportunities
- 4.3.4.1 Increasing demand for long range electric trucks
- 4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Buyers
- 4.4.2 Bargaining Power of Suppliers
- 4.4.3 Intensity of Rivalry
- 4.4.4 Threat of New Entrants
- 4.4.5 Threat of Substitutes
Chapter 5. Impact of COVID-19
- 5.1 Impact of COVID-19 on the U.S. Electric Truck Market
Chapter 6. Electric Truck Contracts and Client Wins
Chapter 7. U.S. Market Size and Forecast
- 7.1 By Vehicle Type
- 7.2 By Propulsion
- 7.3 By Range
- 7.4 By Battery Capacity
- 7.5 By Application
- 7.6 By State
- 7.6.1 California Market Size and Forecast
- 7.6.1.1 By vehicle type
- 7.6.1.2 By propulsion
- 7.6.1.3 By range
- 7.6.1.4 By battery capacity
- 7.6.1.5 By application
- 7.6.1.6 By City
- 7.6.2 New York Market Size and Forecast
- 7.6.2.1 By vehicle type
- 7.6.2.2 By propulsion
- 7.6.2.3 By range
- 7.6.2.4 By battery capacity
- 7.6.2.5 By application
- 7.6.2.6 By City
- 7.6.3 Florida Market Size and Forecast
- 7.6.3.1 By vehicle type
- 7.6.3.2 By propulsion
- 7.6.3.3 By range
- 7.6.3.4 By battery capacity
- 7.6.3.5 By application
- 7.6.3.6 By City
- 7.6.4 Washington Market Size and Forecast
- 7.6.4.1 By vehicle type
- 7.6.4.2 By propulsion
- 7.6.4.3 By range
- 7.6.4.4 By battery capacity
- 7.6.4.5 By application
- 7.6.4.6 By City
- 7.6.5 Texas Market Size and Forecast
- 7.6.5.1 By vehicle type
- 7.6.5.2 By propulsion
- 7.6.5.3 By range
- 7.6.5.4 By battery capacity
- 7.6.5.5 By application
- 7.6.5.6 By City
- 7.6.6 New Jersey Market Size and Forecast
- 7.6.6.1 By vehicle type
- 7.6.6.2 By propulsion
- 7.6.6.3 By range
- 7.6.6.4 By battery capacity
- 7.6.6.5 By application
- 7.6.6.6 By City
- 7.6.7 Rest of U.S. Market Size and Forecast
- 7.6.7.1 By vehicle type
- 7.6.7.2 By propulsion
- 7.6.7.3 By range
- 7.6.7.4 By battery capacity
- 7.6.7.5 By application
Chapter 8. Competitive Landscape
- 8.1 List of Players and Their Offerings
- 8.2 Competitive Benchmarking of Key Players
- 8.3 Strategic Developments in the Market
- 8.3.1 Funding and Investments
- 8.3.2 Product Launches
- 8.3.3 Partnerships
- 8.3.4 Facility Expansions
- 8.3.5 Client Wins
Chapter 9. Company Profiles
- 9.1 Chanje Energy Inc.
- 9.1.1 Business Overview
- 9.1.2 Product and Service Offerings
- 9.2 Orange EV
- 9.2.1 Business Overview
- 9.2.2 Product and Service Offerings
- 9.3 Mitsubishi Fuso Truck & Bus Corp.
- 9.3.1 Business Overview
- 9.3.2 Product and Service Offerings
- 9.4 Nikola Motor Co.
- 9.4.1 Business Overview
- 9.4.2 Product and Service Offerings
- 9.5 Tesla Inc.
- 9.5.1 Business Overview
- 9.5.2 Product and Service Offerings
- 9.5.3 Key Financial Summary
- 9.6 Ford Motor Co.
- 9.6.1 Business Overview
- 9.6.2 Product and Service Offerings
- 9.6.3 Key Financial Summary
- 9.7 General Motors Co.
- 9.7.1 Business Overview
- 9.7.2 Product and Service Offerings
- 9.7.3 Key Financial Summary
- 9.8 Workhorse Group Inc.
- 9.8.1 Business Overview
- 9.8.2 Product and Service Offerings
- 9.8.3 Key Financial Summary
- 9.9 BYD Co. Ltd.
- 9.9.1 Business Overview
- 9.9.2 Product and Service Offerings
- 9.9.3 Key Financial Summary
- 9.10 Fiat Chrysler Automobiles N.V.
- 9.10.1 Business Overview
- 9.10.2 Product and Service Offerings
- 9.10.3 Key Financial Summary
Chapter 10. Appendix
- 10.1 Abbreviations
- 10.2 Sources and References
- 10.3 Related Reports
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