Quick Overview of the US Electric Truck Market Analysis
The objective of the US Electric Truck Market Research Report is to provide a detailed and useful data, and a geographical perspective for predictions of future. The recommendations included in the report are supposed to be insightful and actionable, offering a thorough understanding of the industry. Moreover, it includes a comprehensive table of contents, relevant data, and an analysis of numerous important aspects that have impacted the market.
According to the latest report analysis by MarkNtel Advisors, 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. This detailed study provides a detailed overview of the current market state, including market trends, opportunities, along with the recent developments. In-depth analysis of market share, size, forecast, and competitive landscape is also covered in this report that presents a clear picture of the industry with relevant statistical data.
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Latest Challenge Contributing in the US Electric Truck Industry:
The US Electric Truck Market Challenge:
Extended Charging Hours Slowing Down the Market’s Growth Pace – Although electric trucks have low maintenance costs and better performance, certain fleet operators and logistics companies are showcasing their redundancy to integrate these trucks into their fleets. This hesitancy among fleet managers is mainly due to the extended charging hours of electric freight carriers which increases the overall duration of trips. As per the American Trucking Association, contemporary long-haul battery electric trucks range about 150-330 miles and take 10 hours to charge fully. The extended charging hours are not suitable for many essential commodities in transit. Also, the longer duration of trips enhances the cost of trips, hampering the overall margin of logistics companies. Owing to this, many establishments in the logistics sector are not electrifying their fleet, which is hampering the US Electric Truck Market’s potentiality.
A Detailed Outlook of US Electric Truck Market Segmentation
The Market Segmentation analysis provides and accurate data of the industry to help the analysts make smart strategic investment decisions. Also, the prediction of the market is included for national, and level in the research. The study analyses latest trends of the industry from 2024-30 for each of the category. Different segments were used to classify the market for this study are listed below:
-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 - Market Size Forecast 2019-2030F, Thousand Units
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Geographical Analysis:
-By Region
- North East
- Mid-West
- West
- South
Lead the US Electric Truck Market with a Deep Evaluation of the Competition
This report also includes accurate facts, figures, and market data into income assessments, and projections in the industry by using a wide range of statistical tools and knowledge about the market by the experts. Each notable market participant has a SWOT evaluation, a profile and a complementary Porter’s Five Forces analysis.
Moreover, to take the benefits of new opportunities, dominating players have been constantly realigning their systems, and methods of operation. We also evaluate major businesses that are influences on a geographical scale along with the small and medium-sized businesses that plays crucial role and have substantial opportunity for expansion in order to accurately reflect the levels of market competition.
The details on the following key players is presented in this section as:
- Volvo Trucks
- Stellantis
- Nikola Motor Co.
- Tesla Inc.
- Ford Motor Co.
- General Motors Co.
- Workhorse Group Inc.
- BYD Co. Ltd.
- Nu Ride Inc.
- Daimler Truck AG
- Rivian
- Others
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Key Report Highlights
- Market Dimensions Projections
- Pricing Evaluation,
- Recent Strategic Moves by Companies,
- Primary Stakeholders,
- Analysis of Import and Export Trends,
- Competitive Landscape Assessment,
- Emerging Opportunities,
- Market Trends and Indicators
Why choose MarkNtel?
MarkNtel Advisors is a leading market research company, consulting, data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial varied client base, including multinational corporations, financial institutions, governments, individuals, among others.
Our specialization in niche industries emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing forecasting, trend analysis, among others, for 14.8 diverse industrial verticals.
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