Electric Truck Market Trends, Growth, and Demand Forecast 2025-2033

Market Overview:

The electric truck market is experiencing rapid growth, driven by stringent emission regulations, advancements in battery technology, and rising urban delivery needs. According to IMARC Group's latest research publication, "Electric Truck Market Size, Share, Trends and Forecast by Vehicle Type, Propulsion, Range, Application, and Region, 2025-2033." The global electric truck market size was valued at USD 852.5 Million in 2024. Looking forward, IMARC Group estimates the market to reach USD 6,652.6 Million by 2033, exhibiting a CAGR of 25.6% from 2025-2033. 

This detailed analysis primarily encompasses industry size, business trends, market share, key growth factors, and regional forecasts. The report offers a comprehensive overview and integrates research findings, market assessments, and data from different sources. It also includes pivotal market dynamics like drivers and challenges, while also highlighting growth opportunities, financial insights, technological improvements, emerging trends, and innovations. Besides this, the report provides regional market evaluation, along with a competitive landscape analysis.

Grab a sample PDF of this report: https://www.imarcgroup.com/electric-truck-market/requestsample

Our report includes:

• Market Dynamics

• Market Trends and Market Outlook

• Competitive Analysis

• Industry Segmentation

• Strategic Recommendations

Factors Affecting the Growth of the electric truck Industry:

• Stringent Emission Regulations

Governments worldwide are tightening emission standards to combat climate change, significantly boosting electric truck demand. Regulations like the U.S. EPA’s 60% greenhouse gas reduction target by 2040 push fleet operators toward zero-emission vehicles. Europe’s Euro VI standards and China’s EV adoption goals further accelerate this shift. These policies, paired with incentives like tax breaks, make electric trucks a cost-effective choice for logistics firms. As urban areas prioritize cleaner air, light-duty electric trucks, ideal for last-mile delivery, are gaining traction, driving market growth at a projected CAGR of 25-43% through 2033.

• Advancements in Battery Technology

Innovations in battery technologies allow for more cost-effective battery electric trucks, and a revolution in the electric truck market. The costs of batteries have fallen 89% since 2010, while their efficiencies mean more range and quicker charging. The development of solid-state batteries means they're set to become even lower cost and offer even longer range and efficiencies, which interest logistics companies in particular. The benefit of the cost itself is driving demand, and suitability is specific to light-duty trucks used for urban deliveries, and exactly in the time frame needed to ensure that when the electric truck makes it into mainstream fleets with a defined operating commitment, the cost will defend electric truck commitments because franchise fees from compliance with climate laws and legislation, will drive the decision to move forward with the purchase. The global battery trucking industry is expected to change rapidly, from USD 1.3 billion in revenues in 2024 to over USD 159.2 billion in 2024. Because of these industry evolutions, electric trucks will be designed to meet the entire range of operational suitability to meet operational demand.

• Rising Urban Delivery Needs

The e-commerce boom and urbanization are fueling demand for electric trucks, particularly for last-mile delivery. Light-duty electric trucks, with minimal emissions and less noise, fit well in heavily congested cities. Players like Amazon, in plans to have 2,500 electric trucks deployed by 2025, indicate this direction. Increasing customer preference for greener logistics fuels further adoption. With North America and Asia-Pacific being the market leaders, the electric truck market around the world is projected to reach USD 107.3 billion by 2033, growing at a CAGR of 26% as city infrastructure favors cleaner transport solutions.

We explore the factors driving the growth of the market, including technological advancements, consumer behaviors, and regulatory changes, along with emerging electric truck market trends.

Leading Companies Operating in the Global Electric Truck Industry:

• VolvoGroup

• BYD Company Ltd.

• Mercedes-Benz Group AG

• China FAW Group Co. Ltd.

• Isuzu Motors Ltd.

• Navistar Inc.

• PACCAR Inc.

• Rivian Automotive Inc.

• Volkswagen AG

• Tata Motors Limited

• Tesla Inc.

• Tevva Motors Limited

Electric Truck Market Report Segmentation:

By Vehicle Type:

• Light-duty Truck

• Medium-duty Truck

• Heavy-duty Truck

Light-duty trucks dominate the market in 2024 with approximately 63.8% share, favored for urban deliveries due to their zero emissions, lower operating costs, and maneuverability.

By Propulsion:

• Battery Electric Truck

• Hybrid Electric Truck

• Plug-in Hybrid Electric Truck

• Fuel Cell Electric Truck

Hybrid electric trucks lead the market by combining an internal combustion engine with electric propulsion, enhancing fuel efficiency and reducing emissions while maintaining long-distance capability.

By Range:

• 0-150 Miles

• 151-300 Miles

• Above 300 Miles

The 0-150 miles range category is the market leader, ideal for urban deliveries and short-haul transportation, offering zero emissions and compliance with stringent urban regulations.

By Application:

• Logistics

• Municipal

• Construction

• Mining

• Others

Logistics holds a 38.7% market share in 2024, with electric trucks preferred for urban deliveries, driven by sustainability trends and supported by improved charging infrastructure.

Regional Insights:

• North America (United States, Canada)

• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)

• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)

• Latin America (Brazil, Mexico, Others)

• Middle East and Africa

North America represents over 37.8% of the market in 2024, bolstered by advanced EV charging infrastructure, government investments, and favorable regulatory incentives for electric truck adoption.

Research Methodology:

The report employs a comprehensive research methodology, combining primary and secondary data sources to validate findings. It includes market assessments, surveys, expert opinions, and data triangulation techniques to ensure accuracy and reliability.

Note: If you require specific details, data, or insights that are not currently included in the scope of this report, we are happy to accommodate your request. As part of our customization service, we will gather and provide the additional information you need, tailored to your specific requirements. Please let us know your exact needs, and we will ensure the report is updated accordingly to meet your expectations.

About Us:

IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

Contact Us:

IMARC Group

134 N 4th St. Brooklyn, NY 11249, USA

Email: [email protected]

Tel No:(D) +91 120 433 0800

United States: +1-631-791-1145