Dublin, Aug. 20, 2025 (GLOBE NEWSWIRE) -- The "Electric Truck Market by Propulsion (BEV, PHEV, FCEV), Type (Light-duty Trucks, Medium-duty Trucks, Heavy-duty Trucks), Range, Battery Type, Battery Capacity, Level of Automation, End User, Payload Capacity, and Region - Global Forecast to 2032" has been added to ResearchAndMarkets.com's offering.
The electric truck market is anticipated to grow at a CAGR of 29.5%, reaching USD 32.13 billion by 2032 from USD 5.24 billion in 2025. The increase in medium-duty electric trucks is driven by stringent emission regulations and operational benefits for urban and regional delivery. Cities globally are implementing stricter vehicle emissions limits, bolstered by the rise of medium-duty trucks used for last-mile delivery. Electric trucks between Class 4 and Class 6 offer a zero-emission solution, meeting regulatory goals and supporting low-emission zone initiatives.
Reduced noise levels make these trucks ideal for off-peak deliveries in urban locations. Companies like Ford and BYD have introduced medium-duty electric models designed for urban freight and field services. These trucks typically cover 150 to 200 miles per charge, sufficient for daily operations, and offer a lower total cost of ownership. Fleet operators are increasingly adopting these vehicles as sustainable and strategic assets, aligning with corporate ESG goals.
The market is dominated by key players like BYD, AB Volvo, Ford Motor Company, Daimler Truck AG, and Dongfeng. The report segments the market based on propulsion, type, battery type, end users, range, payload capacity, and region, focusing on BEV, PHEV, and FCEV technology.
Long-range Electric Trucks to See Fastest Growth
Trucks with ranges above 200 miles will experience significant growth as fleet operators demand long-range solutions for regional logistics. This growth is supported by advancements in battery technology, with models like Tesla Semi and Freightliner eCascadia demonstrating extended capabilities. Long-range electric trucks are increasingly used in intercity transportation, contributing to productivity and cost efficiency.
The rapid segment growth is bolstered by investments in high-capacity charging infrastructures, especially in the US, Canada, and Europe, where public and private initiatives are accelerating infrastructure deployment. Major logistics providers like PepsiCo and DHL are already exploring long-range electric trucks for operations.
Stricter carbon regulations and incentives for zero-emission vehicles create favorable conditions for fleet transitions, making long-range electric trucks a valuable addition. As battery prices decline and range anxiety decreases, these trucks provide a compelling solution for decarbonizing operations without sacrificing logistical scope.
The US Leads North American Electric Truck Market
The US is poised to dominate the North American market, driven by federal regulations, state mandates, and electrification investments. The EPA and DOT have set stringent targets for vehicle emissions, accelerating the shift to electric alternatives, complemented by state policies like California's Advanced Clean Trucks rule. The Inflation Reduction Act further incentivizes commercial EV adoption, making it cost-effective for operators to transition.
Leading companies such as Tesla, Ford, Rivian, and Freightliner are responding by increasing electric truck production to meet rising demand. The US market benefits from expanding charging infrastructure and significant participation from large logistics companies, with giants like Amazon and Walmart committing to electrifying their fleets.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 301 |
| Forecast Period | 2025-2032 |
| Estimated Market Value (USD) in 2025 | $5.24 Billion |
| Forecasted Market Value (USD) by 2032 | $32.13 Billion |
| Compound Annual Growth Rate | 29.5% |
| Regions Covered | Global |
Key Topics Covered
Market Dynamics
- Drivers
- Declining Battery Costs
- Government Initiatives Promoting Electric Commercial Vehicle Sales
- Increasing Range of Electric Trucks
- Growing Demand for Electric Trucks in Logistics and Other Industrial Sectors
- Restraints
- High Initial Investment for Production
- Lack of EV Charging Infrastructure
- Extended Charging Duration
- Opportunities
- Ongoing Development of Self-Driving Truck Technology
- Innovations in Fuel Cell Technology
- Challenges
- Limited Availability of Lithium for EV Batteries
- Inadequate Standardization of EV Charging Infrastructure
Case Studies
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- Battery-Electric Trucks Enhance User Experience in Norway
- Fortescue Employs Battery-Electric Trucks for Mining Operations
- Ruan Adopts Electric Terminal Trucks for Logistics Operations
Company Profiles
- AB Volvo
- Daimler Truck AG
- Ford Motor Company
- Dongfeng Motor Corporation
- Rivian
- BYD Company Ltd.
- Tesla, Inc.
- Scania
- Paccar Inc.
- Foton International
- VDL Groep
- Workhorse Group
- Tata Motors Limited
- Ashok Leyland
- Isuzu Motors Ltd.
- Irizar Group
- Iveco S.p.A
- Bollinger Motors
- Xos Trucks, Inc.
- Man SE
- Kaiyun Motors
- Zhejiang Geely New Energy Commercial Vehicle Group Co. Ltd.
- Orange EV
- Hino Motors, Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/rm7jwb
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