Electric Trucks Market Size, Share & Trends Analysis Report By Vehicle Type (Light Duty Trucks, Medium Duty Trucks, Heavy Duty Trucks), By Propulsion Type, By Vehicle Range, By Application, By Region, And Segment Forecasts, 2026 - 2033

Electric Trucks Market Summary

The global electric trucks market size was estimated at USD 39.30 billion in 2025, and is projected to reach USD 193.40 billion by 2033, growing at a CAGR of 20.9% from 2026 to 2033. This steady growth is attributed to stricter emission regulations, expanding charging infrastructure, falling battery costs, supportive government incentives, and increasing adoption of electric trucks by logistics and fleet operators to reduce operating costs and meet sustainability targets.

For instance, the Global EV Outlook 2023 report published by the International Energy Agency (IEA) revealed that over 60,000 medium- and heavy-duty electric trucks were sold worldwide in 2022, and a significant demand was observed from new markets. In addition, innovations in battery technology and economies of scale have led to significant reductions in battery costs, making electric trucks more competitive with their internal combustion (IC) engine counterparts. As the demand for environment-friendly logistics solutions increases, sales of electric trucks are expected to remain substantial over the forecast period.

A number of stringent emission standards and regulations have been implemented by governing bodies, such as the European Union's Euro 7, which is aimed at reducing pollution from vehicles, and the U.S. Environmental Protection Agency's (EPA) Clean Trucks Plan that was announced in 2021 and will be applicable from 2027 onwards. These policies are compelling fleet operators to adopt cleaner alternatives in their operations, driving a higher demand for electric trucks. Furthermore, governments worldwide are offering attractive incentives, such as tax credits, subsidies, and investments in charging infrastructure, to encourage the adoption of electric trucks.

Expansion of fast-charging networks and investments in charging infrastructure have helped address the issue of range anxiety among EV users and made electric trucks a more viable option for long-haul transportation. For instance, the Global EV Outlook 2023 report published by the IEA revealed that about 2.7 million public charging points were available worldwide in 2022, out of which over 900,000 points were installed that year, which was a substantial increase from 2021. The planned development of such infrastructure has encouraged consumers to purchase electric trucks. Moreover, the European Investment Bank and the European Commission, in 2021, agreed to provide 1.5 billion euros in grants by the end of 2023 for establishing alternative fuel infrastructure, such as electric fast charging stations. Furthermore, continuous improvements in electric truck technology, including increased range, payload capacity, and efficiency, are enhancing their appeal among buyers.

Global Electric Trucks Market Report Segmentation

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Grand View Research has segmented the global electric trucks market report based on vehicle type, propulsion type, vehicle range, application, and region:

• Vehicle Type Outlook (Revenue, USD Million, 2021 - 2033)
• Light Duty Trucks
• Medium Duty Trucks
• Heavy Duty Trucks
• Propulsion Type Outlook (Revenue, USD Million, 2021 - 2033)
• BEV
• PHEV
• HEV
• Vehicle Range Outlook (Revenue, USD Million, 2021 - 2033)
• Upto 300 miles
• 300-600 miles
• Above 600 miles
• Application Outlook (Revenue, USD Million, 2021 - 2033)
• Logistics & Delivery
• Construction
• Waste Management
• Others
• Regional Outlook (Revenue, USD Million, 2021 - 2033)
• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• UK
• France
• Asia Pacific
• China
• Japan
• India
• South Korea
• Australia
• Latin America
• Brazil
• Middle East and Africa (MEA)
• KSA
• UAE
• South Africa

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