Electric Truck Market – Global Industry Size, Share, Trends Opportunity, and Forecast, Segmented By Propulsion Type (BEV, PHEV, and FCEV), By Type (Light Duty Trucks, Medium Duty Trucks, and Heavy-Duty Trucks), By End User (Last-Mile Delivery, Long Haul Transportation, Refuse Services, Field Services, and Distribution Services), By Region, Competition 2021-2031F

Forecast Period	2027-2031
Market Size (2025)	USD 13.38 Billion
CAGR (2026-2031)	7.66%
Fastest Growing Segment	Light Duty Trucks
Largest Market	Europe
Market Size (2031)	USD 20.84 Billion

Market Overview

The Global Electric Truck Market will grow from USD 13.38 Billion in 2025 to USD 20.84 Billion by 2031 at a 7.66% CAGR. The Global Electric Truck Market comprises commercial cargo vehicles powered by electric motors using battery or fuel cell technologies rather than traditional internal combustion engines. This sector is fundamentally driven by strict government mandates for zero emission logistics and the clear economic advantages derived from lower operational and maintenance expenses compared to diesel alternatives. According to the International Energy Agency, in 2024, global electric truck sales grew by almost 80% to exceed 90,000 units worldwide.

However, a substantial challenge hindering broader market expansion is the inadequate availability of high power public charging infrastructure tailored specifically for heavy transport. The current scarcity of megawatt charging stations creates logistical limitations for long haul routes and necessitates complex route planning that reduces fleet efficiency. Additionally, the significant capital expenditure required to upgrade electrical grids to handle the immense power loads of commercial fleets further complicates the rapid development of necessary charging networks.

Key Market Drivers

The implementation of stringent government emission regulations acts as the primary catalyst for the electrification of heavy transport, compelling manufacturers to pivot towards battery-electric platforms to ensure compliance. Regulatory bodies worldwide are finalizing legal frameworks that mandate specific sales percentages for zero-emission vehicles, effectively phasing out diesel powertrains in the coming decades. These mandates not only penalize non-compliance but also incentivize the development of heavy-duty supply chains, ensuring that legacy truck makers prioritize electric vehicle development over internal combustion engine refinements. According to the United States Environmental Protection Agency, March 2024, in the 'Final Rule for Phase 3 Greenhouse Gas Emissions Standards for Heavy-Duty Vehicles', the finalized standards project that approximately 60% of new delivery trucks sold in the United States will be zero-emission by the model year 2032.

Concurrently, corporate commitments to carbon neutrality and ESG goals are significantly accelerating fleet electrification, particularly within the logistics and last-mile delivery sectors. Large enterprises are aggressively integrating electric trucks into their operations to satisfy shareholder demands for sustainable practices and to capitalize on the lower operating costs associated with electric drivetrains. According to Amazon, July 2024, in the 'Delivering the Future' press release, the company reported that it has deployed over 15,000 electric delivery vans across the United States to fulfill its climate pledge obligations. This shift in procurement strategy is evident in regional sales data, demonstrating a tangible move away from fossil fuels. According to the European Automobile Manufacturers’ Association, in 2024, new registrations of electrically chargeable trucks in the European Union rose by 29.5% during the first quarter compared to the same period in the prior year.

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Key Market Challenges

The inadequate availability of high-power public charging infrastructure tailored specifically for heavy transport poses a structural impediment to the scalability of the electric truck sector. Fleet operators encounter substantial risks regarding operational continuity, as the current scarcity of charging stations restricts the deployment of these vehicles to short or return-to-base routes. This limitation prevents the broad adoption of electric trucks for long-haul logistics, where consistent and rapid energy replenishment is essential for maintaining strict delivery schedules. Consequently, the lack of a reliable charging network forces companies to maintain mixed fleets, reducing the immediate return on investment for electric units.

Moreover, the slow pace of infrastructure development is exacerbated by the immense financial requirements for grid modernization. Utility providers and charging operators face high costs to install the capacity needed for megawatt charging systems. According to the Clean Freight Coalition, in 2024, the complete electrification of the United States medium and heavy-duty commercial fleet would require a utility and charging infrastructure investment of approximately 620 billion dollars. This economic hurdle delays the rollout of essential charging corridors, directly stalling the market momentum for heavy-duty electric transport.

Key Market Trends

The commercialization of hydrogen fuel cell electric trucks is emerging as a vital trend to address the range and refueling limitations of battery-electric counterparts in heavy-duty logistics. Manufacturers are increasingly diversifying their portfolios to include fuel cell technology, which offers lighter powertrain weights and faster refueling times essential for maintaining continuous long-haul operations. This shift allows fleet operators to electrify routes that were previously considered unfeasible due to current battery capacity constraints, effectively expanding the addressable market for zero-emission transport. According to Nikola Corporation, May 2024, in the 'Nikola Corporation Reports First Quarter 2024 Financial Results' press release, the company wholesaled 40 hydrogen fuel cell electric trucks in the first quarter, demonstrating the transition from prototype testing to serial commercial availability.

The integration of autonomous driving capabilities into electric truck platforms is concurrently advancing to enhance operational efficiency and mitigate driver shortage challenges. Developers are engineering purpose-built electric chassis that accommodate redundant safety systems and sensor suites, creating a synergy between zero-emission propulsion and self-driving technology. This convergence aims to maximize asset utilization by allowing vehicles to operate nearly continuously without the hours-of-service restrictions that limit human-operated fleets. According to Kodiak Robotics, Inc., January 2024, in the 'Kodiak Robotics Unveils World’s First Driverless-Ready Semi-Truck' press release, the company introduced its sixth-generation autonomous truck platform which features all necessary redundant safety systems for scaled driverless deployment, signaling a maturity in the technology's readiness for market integration.

Segmental Insights

The Light Duty Trucks segment represents the fastest-growing category within the global electric truck market. This rapid expansion is primarily driven by the increasing demand from e-commerce and logistics sectors for efficient last-mile delivery solutions. Fleet operators are transitioning to electric models to align with stringent emission regulations enforced by authorities such as the United States Environmental Protection Agency and the European Commission. Furthermore, the operational suitability of these trucks for short-range urban routes offers significant cost advantages, prompting widespread commercial adoption across metropolitan regions.

Regional Insights

Europe holds a dominant position in the global electric truck market, primarily driven by stringent environmental frameworks and aggressive decarbonization goals. The European Union has enforced rigorous CO2 emission standards for heavy-duty vehicles, compelling fleet operators to transition toward zero-emission logistics. Additionally, substantial government subsidies and the systematic expansion of charging infrastructure support this widespread shift. Policy initiatives aligned with the European Commission create a stable environment for manufacturers to increase production. These combined regulatory and economic factors effectively accelerate the adoption of electric commercial vehicles across the region.

Recent Developments

• In November 2024, Renault Trucks announced the development of an extended-range version of its E-Tech T model, designed to achieve up to 600 kilometers on a single charge. The manufacturer revealed that this increased range was made possible by a new electric axle (e-axle) design, which integrates the motor and transmission to free up chassis space for additional battery packs. This engineering update aimed to provide a viable zero-emission solution for long-haul logistics that offers operational parity with diesel technology. The company confirmed that orders for this advanced heavy-duty electric truck would open in 2025, with production set for its facility in Bourg-en-Bresse.
• In September 2024, Volvo Trucks revealed plans to launch a new long-range version of its heavy-duty FH Electric model, capable of covering up to 600 kilometers on a single charge. This performance milestone was attributed to the integration of a new e-axle driveline technology, which created sufficient space for increased onboard battery capacity, alongside improvements in overall energy efficiency. The company stated that this development would enable zero-emission transport on long-distance routes, allowing drivers to complete a full working day without needing to recharge. The new model was scheduled for commercial release in the second half of 2025.
• In September 2024, Mercedes-Benz Trucks received the "International Truck of the Year 2025" award for its battery-electric eActros 600 model during the IAA Transportation event in Hanover. The jury recognized the vehicle for its technological capabilities, particularly its high-capacity battery packs totaling over 600 kilowatt-hours, which enable a range of 500 kilometers without intermediate charging. The truck was praised for its aerodynamic cabin design and new electric drive axle, which collectively enhance energy efficiency. This industry acknowledgement highlighted the vehicle's readiness for series production and its potential to effectively replace diesel trucks in long-haul segments of the Global Electric Truck Market.
• In March 2024, Scania announced a significant expansion of its battery-electric truck portfolio to support a wider variety of industrial applications within the Global Electric Truck Market. The company introduced updated electric machines and axle configurations, including a tandem bogie axle designed for heavy-duty operations such as construction, tippers, and concrete mixers. This technical update allowed for specialized vehicle specifications without compromising traction or load-carrying capacity. Additionally, the manufacturer unveiled improved battery solutions with a lifespan of 1.3 million kilometers, aiming to provide haulers with customized, sustainable options for both urban distribution and demanding regional transport tasks.

Key Market Players

• BYD Company Limited
• AB Volvo
• Daimler Truck AG
• Tesla, Inc.
• Traton SE
• PACCAR Inc.
• Dongfeng Motor Corporation
• Ford Motor Company
• Rivian Automotive, Inc.
• Scania CV AB

By Propulsion Type	By Type	By End User	By Region
BEV PHEV FCEV	Light Duty Trucks Medium Duty Trucks Heavy-Duty Trucks	Last-Mile Delivery Long Haul Transportation Refuse Services Field Services Distribution Services	North America Europe Asia Pacific South America Middle East & Africa

Report Scope:

In this report, the Global Electric Truck Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• Electric Truck Market, By Propulsion Type:

• BEV
• PHEV
• FCEV

• Electric Truck Market, By Type:

• Light Duty Trucks
• Medium Duty Trucks
• Heavy-Duty Trucks

• Electric Truck Market, By End User:

• Last-Mile Delivery
• Long Haul Transportation
• Refuse Services
• Field Services
• Distribution Services

• Electric Truck Market, By Region:

• North America
• United States
• Canada
• Mexico
• Europe
• France
• United Kingdom
• Italy
• Germany
• Spain
• Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• South America
• Brazil
• Argentina
• Colombia
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE