Charging Ahead: U.S. Electric Truck Market Trends and Electrified Transportation

1. U.S. Electric Truck Market: Will Reach $15,084.3 Million by 2030 1 © P&S Intelligence. All Rights Reserved

2. When people think of EVs, they frequently picture smaller ones that can fit into small parking spaces. But for tasks like contracting, gardening, and deliveries, contemporary EVs have begun to come in various forms and sizes. Fleet managers would want to think again before ignoring EVs as automakers develop increasingly inventive solutions to the problems associated with powering heavy-duty vehicles. The government's e-mobility promotion efforts, including pollution standards and financial incentives for buying electric cars, are primarily anticipated to fuel the expansion of the U.S. electric truck market. Thus, this industry is predicted to produce $15,084.3 million revenue by 2030. Additionally, it is anticipated that the development of self-driving technology and the surge in demand for electric vehicles from the logistics sector would provide electric truck manufacturers with considerable growth potential. Furthermore, the EV industry is anticipated to grow rapidly in the next years as gasoline prices continue to climb. The SAFE Vehicles regulation will be in effect in the U.S. from 2021 to 2026. The proposal has established corporate average fuel efficiency and greenhouse gas emission criteria for passenger and light cars. However, the high cost and absence of charging infrastructure are projected to restrain the industry's growth in the coming years. 2 © P&S Intelligence. All Rights Reserved

3. The growing trend of driverless vehicles will significantly affect the sector. Long-term demand for electric trucks will rise due to self-driving technology because of how simple it is to use, how it operates in self-driving mode, and how it will improve prospects for road safety by doing away with human mistakes. Historically, the logistics sector dominated the country's sales of these vehicles, which contributed over 75% of the nation's income. The nation's need for such environmentally friendly commercial vehicles is driven by the rising logistical footprint and a significant increase in retail, e-commerce, and third-party logistics. Additionally, there is a growing need for effective supply chains for logistics services due to the need for doorstep delivery that is quicker and more convenient. LDTs are the most frequently utilized vehicle type. This can be ascribed to the nation's strong adoption and demand for pickup vehicles. Many sectors are driving the market for these LDTs by incorporating them into their processes. To receive free sample pages of this report@ https://www.psmarketresearch.com/market-analysis/us- electric-truck-market/report-sample 3 © P&S Intelligence. All Rights Reserved

4. As a result, LDTs made up more than 85% of all nationwide commercial vehicle purchases last year. To assist fleet owners lower total operating costs, they present a significant potential for launching new electric versions to the market for the major companies. Geographically, California is anticipated to dominate the U.S. electric truck market and rapidly expand throughout the projected period. Due to the government's strong support in the form of incentive programs and the development of policies that promote the use of EVs in the state, the state currently controls the sector. In 2035, the rules will be fully applied; the board predicted around 15% of the 1.2 million trucks on the highway to be running on electricity, thus estimating a huge surge in the requirement for e-trucks. Please fill the form with the queries@ https://www.psmarketresearch.com/send- enquiry?enquiry-url=us-electric-truck-market 4 © P&S Intelligence. All Rights Reserved

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