According to a new report published by UnivDatos Markets Insights, the US ZE trucks market was valued at USD ~175 Mn in 2022 & is expected to grow at a CAGR of 15% from 2023-2030. The analysis has been segmented into Propulsion Type (Battery Electric Vehicles (BEV) and Fuel Cell Electric Vehicles (FCEV)); Vehicle Type (Light Duty, Medium Duty, and Heavy Duty]; Range (Less than 50 kWh, 50-250 kWh, and More Than 250kWh); End-Users (Last Mile Delivery, Refuse Services, and Others); Country.

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The US ZE trucks market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the US ZE trucks market. The US ZE trucks market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the US ZE trucks market at the country level.

Key Market Dynamics

As the use of electric vehicles (EVs) continues to grow, it is becoming increasingly important to have a robust charging infrastructure in place to support them. This is particularly true for heavy-duty vehicles such as trucks, which often have longer ranges and require more powerful charging systems. Zero-emission trucks, which are powered by electric or hydrogen fuel cells, are an important part of the transition to a cleaner, more sustainable transportation system. However, to fully realize the benefits of these vehicles, it is necessary to have an adequate charging infrastructure in place to support them. This includes both fast chargers for shorter trips and slower chargers for longer hauls. As the demand for zero-emission trucks continues to grow, it is likely that we will see an increase in investment in advanced EV charging infrastructure to support them. This infrastructure includes charging stations, battery swapping stations, and even smart grid systems that can manage the demand for electricity. These systems can help manage the demand for electricity from EVs and prevent blackouts. For instance, California currently has around 2,000 electric vehicle charging stations, the most of any state in the US, and the number is expected to grow in the coming years. The state has ambitious plans to create over 250,000 charging stations by 2025 and to increase the number of electric vehicles on the road to five million by 2030. Moreover, the investment made by the government is also driving the growth of the market. For instance, in 2022, the U.S. Joint Office of Energy and Transportation’s signoff on the California Deployment Plan for the National Electric Vehicle Infrastructure (NEVI) Program making USD an initial 56 million in funding available to install charging stations throughout the state. Funded by the federal Infrastructure Investment and Jobs Act of 2021 (IIJA), California expects to receive a total of USD 384 million for the program over the next five years.

COVID-19 Impact

The COVID-19 pandemic had a significant impact on the electric truck market in the United States. It affected both the supply and demand sides of the industry. On the supply side, there were disruptions in supply chains, leading to temporary closures of manufacturing facilities, reduced workforce, and logistical challenges. These factors affected the production and availability of zero emission trucks. On the demand side, the pandemic caused an economic downturn, resulting in reduced demand for vehicles, including electric trucks. Many businesses scaled back their operations, and investments in new fleet vehicles were delayed or canceled. The uncertainty and financial constraints during the pandemic led to a decline in the adoption of zero emission trucks in US.

·         Based on the propulsion type, the market is bifurcated into Battery Electric Vehicles (BEV), and Fuel Cell Electric Vehicles (FCEV).

·         Based on vehicle type, the market is segmented into light duty, medium duty, and heavy duty.

·         Based on the range, the market is segmented into up to 150 miles, 151-300 miles, and above 300 miles.  

·         Based on battery capacity, the market is segmented into less than 50 kWh, 50-250 kWh, and more than 300 kWh.

·         Based on end-users, the market is last-mile delivery, refuse services, and others.

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US ZE Trucks Market States Segmentation Includes:

·         US (California, New York, Florida, Washington, Texas, New Jersey, and the Rest of the US)

California has been a leader in promoting the adoption of zero-emission vehicles, including trucks. The state has set ambitious goals for reducing greenhouse gas emissions and has implemented several policies and incentives to encourage the adoption of zero-emission vehicles. For instance, California has set a goal of putting 1.5 million zero-emission vehicles on the road by 2025 and has implemented several policies to encourage the adoption of zero-emission vehicles, such as the Low Carbon Fuel Standard and the Zero Emission Vehicle Mandate. Additionally, California has many businesses and industries that rely on commercial vehicles for transportation and logistics, which also drives demand for zero-emission trucks.

Competitive Landscape

The degree of competition among prominent companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the US ZE trucks market. The major players have been analyzed by using research methodologies such as Porter’s Five Forces Analysis for getting insight views on competition.

Recent Developments:

·         In 2023, Daimler Truck Group announced the launch of a line of electric trucks in the U.S. market under the new brand name RIZON.

Key questions resolved through this analytical market research report include:

• What are the latest trends, new patterns, and technological advancements in the US ZE trucks market?

• Which factors are influencing the US ZE trucks market over the forecast period?

• What are the challenges, threats, and risks in the US ZE trucks market?

• Which factors are propelling and restraining the US ZE trucks market?

• What are the demanding states of the US ZE trucks market?

• What will be the market size in the upcoming years?

• What are the crucial market acquisition strategies and policies applied by companies?

• What are the descriptive profiles of key companies along with their SWOT analysis?

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Target Audience:

·         Raw material providers

·         Original Equipment Manufacturers (OEMs)

·         Aftermarket service providers

·         Government bodies, such as regulating authorities and policymakers.

·         Venture capitalists, private equity firms, and start-up companies

·         Distributors and sales firms

·         Research institutes, organizations, and consulting companies

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