The Latest Electric Truck Industry Statistics Explained
In 2026, the electric truck market is expected to surpass $70 billion.
The statistic “In 2026, the electric truck market is expected to surpass $70 billion” indicates that the total market value of electric trucks is projected to exceed $70 billion by the end of 2026. This forecast suggests substantial growth and investment opportunities within the electric truck industry, driven by factors such as increasing demand for sustainable transportation solutions, advancements in electric vehicle technology, and regulatory support for reducing emissions. The expected growth in the electric truck market highlights a shift towards cleaner energy alternatives in the transportation sector and reflects the broader trend of transitioning to more sustainable practices in response to environmental concerns.
The electric truck market is expected to register a CAGR of over 14% during the forecast period of 2021 – 2026.
This statistic indicates that the electric truck market is projected to experience a Compound Annual Growth Rate (CAGR) of more than 14% from 2021 to 2026. This means that the market is expected to grow steadily at a rate of at least 14% per year over the forecast period. A high CAGR suggests strong and sustained growth in demand for electric trucks as well as increased adoption of electric vehicles in the transportation industry. Factors such as environmental concerns, government incentives, and advances in battery technology are likely driving this growth in the electric truck market.
North America and Europe have the most significant number of electric trucks, with shares of 60.4% and 26.3% respectively.
The statistic indicates that North America and Europe dominate the electric truck market, accounting for the majority of shares at 60.4% and 26.3% respectively. This suggests that these regions are leading in the adoption and implementation of electric trucks, showcasing a strong commitment to sustainability and reducing emissions in the transportation sector. North America’s higher share compared to Europe highlights its larger market size and potentially more advanced infrastructure for electric vehicles. The significant presence of electric trucks in these regions also points towards a growing global trend towards cleaner and more sustainable transport solutions, with North America and Europe at the forefront of this shift.
Rivian, an electric truck start-up, received a colossal investment of 700 million USD led by Amazon.
The statistic that Rivian, an electric truck start-up, received a colossal investment of 700 million USD led by Amazon indicates a significant endorsement and financial vote of confidence in Rivian’s business model and electric vehicle technology. This large investment not only provides Rivian with substantial capital to further develop and scale its operations but also establishes a strong partnership with Amazon, a major player in the tech and logistics industry. The investment suggests that Amazon sees potential in Rivian’s electric trucks as a sustainable and efficient solution for its transportation needs, and could potentially accelerate the adoption of electric vehicles in the commercial sector.
Approximately 10% of trucks on U.S. roads are predicted to be electric by 2030.
The statistic “Approximately 10% of trucks on U.S. roads are predicted to be electric by 2030” suggests that there is an expected increase in the adoption of electric trucks in the United States over the next decade. This prediction indicates a significant shift towards sustainability and the reduction of emissions in the transportation sector. The estimate of 10% highlights a substantial potential market share for electric trucks by 2030, signaling a growing interest and investment in electric vehicle technology within the trucking industry as a means to address environmental concerns and meet regulatory requirements. The statistic serves as a key indicator of the industry’s trajectory towards a more sustainable future and the transition to cleaner energy sources in the transportation sector.
The global EV market is estimated to grow from around 2.5 million units in 2020 to around 11.2 million units by 2025.
The statistic indicates that the global electric vehicle (EV) market is projected to experience significant growth over the next five years, with the number of EV units increasing from approximately 2.5 million in 2020 to around 11.2 million by 2025. This substantial growth suggests a growing global interest and adoption of EVs as a more sustainable and environmentally friendly alternative to traditional internal combustion engine vehicles. Factors contributing to this growth may include advancements in EV technology, government incentives and regulations promoting the adoption of electric vehicles, as well as increasing consumer awareness of the benefits of EVs in reducing carbon emissions and addressing climate change concerns.
In 2019, the electric pick-up truck segment held the largest market share.
The statistic “In 2019, the electric pick-up truck segment held the largest market share” indicates that among all the different types of vehicles available in the market, electric pick-up trucks were the most popular choice for consumers during that year. This suggests a growing preference for electric vehicles in the automotive industry, as pick-up trucks are traditionally popular vehicles in regions like the United States. The increasing market share of electric pick-up trucks also reflects a trend towards more sustainable and environmentally-friendly transportation options, as electric vehicles are known for their lower carbon emissions compared to traditional gasoline-powered vehicles.
The lifecycle greenhouse gas emissions of electric trucks can be up to 40% less than diesel trucks.
The statistic stating that the lifecycle greenhouse gas emissions of electric trucks can be up to 40% less than diesel trucks suggests that over the entire lifetime of these vehicles, including manufacturing, operation, and end-of-life disposal, electric trucks have the potential to significantly reduce their environmental impact compared to their diesel counterparts. This reduction in greenhouse gas emissions is largely attributed to the cleaner electricity mix used to power electric trucks, which typically results in lower carbon emissions per mile driven compared to diesel fuel. By transitioning to electric trucks, companies and industries can contribute to efforts aimed at mitigating climate change and achieving sustainability goals by reducing the overall carbon footprint of their transportation operations.
Electric trucks are estimated to reach price parity with diesel trucks by 2025.
The statistic “Electric trucks are estimated to reach price parity with diesel trucks by 2025” suggests that by the year 2025, the cost of owning and operating electric trucks is expected to become equivalent to that of diesel trucks. This means that the initial purchase price, as well as ongoing maintenance and operational costs, of electric trucks are predicted to decrease to a level where they are comparable to those of diesel trucks. This projection indicates a significant advancement in the affordability and competitiveness of electric trucks within the transport industry, potentially leading to a more widespread adoption of electric vehicles as a more cost-effective and sustainable alternative to traditional diesel trucks.
The Class 6 trucks segment is expected to grow 40 times bigger by 2030 at a CAGR of 58%.
The statistic indicates that the Class 6 trucks segment is projected to experience significant growth over the next decade, becoming 40 times larger by 2030 compared to its current size. This growth is expected to occur at a compound annual growth rate (CAGR) of 58%. The substantial expansion in this segment suggests increasing demand for Class 6 trucks, likely driven by factors such as economic growth, infrastructure development, and changes in transportation needs. This forecast highlights a promising opportunity for businesses operating within the Class 6 trucks market to capitalize on the anticipated growth and potential profits in the coming years.
The top 5 countries in terms of electric truck market size are China, the US, Japan, Canada, and Germany.
The statistic indicates the ranking of countries with the largest electric truck market size, with China being the leading country, followed by the United States, Japan, Canada, and Germany. This ranking suggests that these five countries have the highest adoption rates of electric trucks, likely due to factors such as government incentives, environmental regulations, infrastructure development, and increasing awareness of sustainability issues. As the global automotive industry transitions towards electrification to reduce greenhouse gas emissions and reliance on fossil fuels, these top countries are at the forefront of the electric truck market, paving the way for a more sustainable and energy-efficient transportation sector.
In 2017, 84% of all trucks sold can be considered energy efficient up from 16% in 2013.
The statistic indicates a significant increase in the proportion of energy-efficient trucks sold between 2013 and 2017. Specifically, the percentage of trucks considered energy efficient has risen from 16% in 2013 to 84% in 2017. This substantial increase suggests a notable shift in consumer preferences towards more environmentally friendly and fuel-efficient vehicles over the four-year period. The upward trend in the adoption of energy-efficient trucks may be reflective of an increased emphasis on sustainability, stricter regulations, technological advancements, and manufacturers’ efforts to meet the growing demand for greener transportation options. Overall, the statistic highlights a positive change towards a more eco-conscious and energy-efficient truck market in recent years.
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