North America's Electric Trucks Market: Market Opportunity

"Overall, between 2019 to 2025, Trucks market is expected to grow by 50% (BEVs only)."

Analyzing the trend and speed of electrification, it is forecasted that the market of electric trucks will occupy over 1.93% share of global medium and heavy-duty market by 2025.

North America’s Truck Market

The rapid production and installation of electric trucks in China, suggests that by 2025 Chinese trucks would dominate the global medium and heavy-duty electric truck market by accumulating major market shares (Power Technology Research, 2020). Competing with it, North America appears to be second in the race of investing in setting up a structure for electric truck market in the region.

Taking benefit of the opportunity TRATON, a subsidiary of Volkswagen AG and a leading commercial vehicle manufacturer worldwide with its brands MAN, Scania, Volkswagen Caminh?es e ?nibus, and RIO, deal of acquiring Navistar has finally concluded in favor of Traton as announced by the CEO of Traton on 20th oct, 2020. This would will allow Traton to have an easy access to North America’s truck market. Further, they can build economies of scale and use market knowledge from Navistar, to give competition to European rivals in the market. Already working on it, Navistar has strategically set up its new production plant in San Antonio to meet the production demand of North America as the market shows a CAGR between 2020 to 2025 of over 10% growth. Additionally, our market intelligence suggest that between 2019 to 2025, Trucks market is expected to grow by 50% (BEVs only) (Power Technology Research, 2020).

Thus, demanding companies actively looking into Electric Trucks market to take aggressive action in the market of North America.

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To strategize the market demand, is market research on the topic of an interest to you? I’d be happy to arrange a call with our lead analyst on market intelligence on Commercial and Off Highway Vehicles.

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