July 2025
The global electric truck market size was calculated at USD 1.22 billion in 2024 and is predicted to reach around USD 18.63 billion by 2034, expanding at a CAGR of 31.34% from 2025 to 2034. The rising demand to reduce air pollution, improve air quality and contribute towards greener transportation is encouraging the growth of the electric truck market.
Integration of artificial intelligence into electric trucks brings automation, enhanced safety features, GPS, battery optimization and many more. Overall, AI makes an electric truck be smarter transportation landscape. With the growth expansion, the automobile sector allows enterprises to track operations, optimize business planning, produce autonomous and semi-autonomous vehicles, and improve digital outcomes.
Additionally, data science and machine learning technology support automotive companies to drastically enhance from research to design and manufacturing to everything in between.
According to an International Energy Agency survey, over 250,000 electric vehicles were sold every week in the last year worldwide. With this continuous progress, it is expected that EVs to account for 40% of car sales by 2030.
The Asia Pacific electric truck market size was evaluated at USD 560 million in 2024 and is projected to be worth around USD 8,660 million by 2034, growing at a CAGR of 31.50% from 2025 to 2034.
Africa is expected to witness highest CAGR of around 37.7% during 2025-2034. Asia-Pacific dominated the electric truck market in 2024. The China dominates the electric truck market in Asia-Pacific region. Due to rapid industrialization and urbanization, the market for electric truck is growing at a rapid pace. The other factors such as strict government laws and norms against pollution and global warming, high investments in research and development by government and key market players, and growing awareness among the people are driving the growth of the electric truck market in the Asia-Pacific region. In addition, the government is providing subsidies and incentives to the market players. This factor is also driving the growth and expansion of the Asia-Pacific electric truck market.
North America is expected to develop at the fastest rate during the forecast period. The factors such as technological advancements and adoption of innovative technologies are driving the growth of the electric truck market in the region. The fuel-based vehicles emit lot of toxic gases a result into increase in pollution levels. To curb the negative impact of fuel-based vehicles and trucks, the government is imposing stringent regulations and guidelines. These factors are propelling the growth of the electric truck market in the North America region.
| Report Coverage | Details |
| Market Size in 2025 |
USD 1.60 Billion |
| Market Size in 2034 | USD 18.63 Billion |
| Growth Rate from 2025 to 2034 |
CAGR of 31.34% |
| Largest Market | Asia Pacific |
| Fastest Growing Makret | North America |
| Base Year | 2024 |
| Forecast Period | 2025 to 2034 |
| Segments Covered | Propulsion, Vehicle Type, Range, End User, Battery Capacity, Payload Capacity, Level of Automation, Geography |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
On the other hand, the factors such as insufficient charging infrastructure for electric vehicles and high cost of electric trucks is hindering the growth of the global electric truck market over the forecast period. In addition, the operating and maintenance costs of electric truck are quite high as compared to traditional vehicles and trucks. This factor is restricting the growth of the global electric truck market.
Due to rapid industrialization and urbanization, the demand for electric truck is expanding at a rapid pace. The electric truck is cost effective in nature and helps to save time at a same time. That’s the reason the original equipment manufacturers (OEMs) have started manufacturing electric vehicles on a large scale. This is supporting the expansion and development of the global electric truck market. Furthermore, the technological advancements in the development of batteries are also opening new ways for the development of the market for electric truck.
Another factor that is boosting the growth of the worldwide electric truck market is the growing investments in research and development activities by key market players. The government agencies are constantly working with market players for the promotion of electric truck in the global market. In addition, these market players are adopting some unique strategies such as agreements, joint ventures, acquisitions, partnerships, and business expansions. All of these strategies are helping market players to increase their consumer reach and create significant position in the electric truck market all over the globe.
The battery electric trucks segment dominated the electric truck market in 2024. The electric trucks that run with the help of batteries are categorized as battery electric trucks. The batteries used in the electric trucks are ultracapacitors, lithium-ion battery, lead-acid, and nickel-metal hydride. Due to growing importance for clean energy, the government is emphasizing on the usage of electric vehicles that run on battery. This saves fuel on a large scale. In addition, technological developments are also paving way for the development of battery electric vehicles. Thus, this is driving the growth of the segment during the forecast period.
The hybrid trucks segment is fastest growing segment of the electric truck market in 2024. The hybrid electric trucks use two types of propulsion that is traditional combustion engine powertrain and electric powertrain. The hybrid electric trucks are very efficient in nature. Within 35 minutes, the vehicle is charged about 80% of capacity. This means that the hybrid electric trucks have long duration of batteries that can drive the truck for long period of time. In addition, the application of hybrid electric trucks is helping in reduction of greenhouse gases emissions.
Electric trucks at a sub- or up to 300-mile range led the market due to their preference for urban and regional transportation. This class of trucks has a commendable balance between rangeability, applicability, and pricethus preferring logistic applications, municipal functions, or local deliveries. Reduced operating costs further increase support for their adoption by fleet operators.
Forager for extended long-haul and regional operations, 300- to 600-mile electric trucks range experiences rapid growth. Charging downtime is minimal or removed, and thus relieves range anxiety for fleet operators engaged in long runs. With improvements in battery technology and expanding charging infrastructure, longer-range electric trucks will be feasible, reliable, and cost-effective, thus driving rapid adoption in the commercial transport industry.
The Logistics & Delivery segment dominated the market with the ascending demand for efficient, sustainable last-mile delivery solutions. Electric trucks are well aligned with this segment and thus, besides being emission-free, have well-fixed route patterns and comparatively less operational costs. More and more electric trucks are being integrated into the fleets of logistics providers so that they can improve their performance while enhancing the environmental respect of their operations with an increased focus on e-commerce activities and corporate sustainability initiatives.
Waste management is expected to grow at the fastest rate during the forecast period as municipalities and private companies have begun to use electric trucks as a tool for reducing emissions and lowering fuel costs. The collection routes in such cases are very predictable, with plenty of stop-start operations that make these applications perfect for energy recuperation and energy efficiency. Improvements in payload capacity and range are further enhancing the feasibility of electric trucks for heavy-duty waste collection, which in turn promotes wider adoption in eco-friendly urban management schemes.
By Propulsion
By Vehicle Type
By Range
By End User
By Battery Capacity
By Payload Capacity
By Level of Automation
By Geography
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