United States Electric Logistics Vehicle Market was valued at USD 2.6 Billion in 2022 and is projected to reach USD 8.0 Billion by 2030, growing at a CAGR of 18.3% from 2024 to 2030.
The U.S. electric logistics vehicle market is undergoing a significant transformation, driven by technological advancements, environmental policies, and evolving consumer preferences. As of 2023, the market was valued at approximately $13.88 billion, with projections indicating growth to $55.92 billion by 2029, reflecting a compound annual growth rate (CAGR) of 26.41%. citeturn0search2
Key factors contributing to this growth include:
Advancements in Battery Technology: Innovations in lithium-ion batteries have enhanced energy densities and reduced charging times, extending vehicle ranges and lowering operational costs. Emerging technologies, such as solid-state batteries, promise further improvements in safety and performance, bolstering fleet operators' confidence in transitioning to electric models. citeturn0search0
Demand for Sustainable Logistics Solutions: The rise of e-commerce has heightened the need for eco-friendly last-mile delivery options. Electric delivery vans and trucks are becoming integral to reducing carbon footprints, especially in urban areas with low-emission zones. Consumers' preference for companies with visible environmental initiatives further drives this trend. citeturn0search0
Government Policies and Incentives: Federal and state policies, including tax credits and grants, support the adoption of electric vehicles (EVs). Initiatives like California's Advanced Clean Trucks regulation, which mandates increasing ECV adoption, position the state as a leader in the market. citeturn0search2
Operational Cost Savings: Electric logistics vehicles offer reduced fuel and maintenance expenses compared to diesel counterparts. Fleet operators are increasingly adopting EVs to lower long-term costs and meet sustainability goals, with some companies adding electric trucks to their fleets to enhance operational efficiency. citeturn0search5
Infrastructure Development: Investments in charging infrastructure are expanding nationwide, addressing range anxiety and facilitating the widespread adoption of EVs. Public and private sector collaborations are crucial in building a robust charging network to support the growing electric fleet. citeturn0search5
However, challenges remain, including high upfront costs, limited charging infrastructure for heavy-duty vehicles, and battery performance concerns in demanding applications. Addressing these issues requires continued technological innovation, supportive policies, and strategic investments in infrastructure to ensure the sustainable growth of the electric logistics vehicle market in the U.S.
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Dongfeng Motor
Smith Electric Vehicles
StreetScooter
Chongqing Lifan
Baic Motor
BYD
Nissan
EMOSS
Peugeot
Renault
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the US Electric Logistics Vehicle Market
Light-duty Electric Vans
Medium-duty Electric Trucks
Heavy-duty Electric Trucks
Electric Buses
Electric Motorcycles and Scooters
Battery Electric Vehicles (BEV)
Plug-in Hybrid Electric Vehicles (PHEV)
Fuel Cell Electric Vehicles (FCEV)
Extended Range Electric Vehicles (EREV)
Last-Mile Delivery
Warehousing and Distribution
Public Transportation
Freight and Cargo Transport
Utility and Emergency Services
Lithium-ion Batteries
Solid-state Batteries
Lead-acid Batteries
Nickel-Metal Hydride Batteries
Retail and E-commerce Companies
Logistics and Transportation Providers
Government and Public Sector
Manufacturers and Industrial Sectors
Healthcare and Pharmaceutical Companies
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the US Electric Logistics Vehicle Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. US Electric Logistics Vehicle Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. US Electric Logistics Vehicle Market, By Type
6. US Electric Logistics Vehicle Market, By Application
7. US Electric Logistics Vehicle Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. US Electric Logistics Vehicle Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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