The electric truck market in the U.S. is primed for huge growth.
Having largely lagged behind China and Europe in electric commercial vehicle deployment, the transition to zero-emission vehicles in this sector now seems set to begin in earnest.
The IDTechEx report, "Electric Truck Markets 2021-2041," contains 20-year regional forecasts for the battery electric and fuel cell truck markets.
Whilst the Biden presidency is only a week old, the step change that has occurred in the U.S. government's attitude towards confronting climate change and reducing road transport emissions could not have been made any clearer.
Just five days into his presidency, President Joe Biden announced his government is planning to replace the federal government's fleet of combustion engine vehicles with electric vehicles manufactured in the U.S., creating 1 million clean-energy automotive jobs, in what he described as the "largest mobilization of public investment in procurement, infrastructure and R&D since World War II."
According to the U.S. General Services Administration (GSA), the U.S. federal fleet comprises nearly 650,000 vehicles with around 100,000 medium-duty and 40,000 heavy-duty trucks in the inventory.
Whilst the strategy, funding and timelines behind the policy are yet to be expounded upon, it is clear the new government sees vehicle electrification both as a strategy for reducing greenhouse gas emission, with the co-benefit of improving air quality, and for supporting the U.S. automotive sector.
Biden's announcement, alongside factors such as the California Air Resources Board's Advanced Clean Trucks regulation, which last year mandated 75% of new Class 4-8 ridged truck and 55% of new tractor truck sales in California must be zero-emission by 2035, and growing evidence of significant demand for commercial EVs from major U.S. corporations, should give...