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Electric Truck Market Considers Infrastructure Reality

By March 30, 2023No Comments

EVs projected to grow dramatically over the next decades.

Electric truck market growth is poised to accelerate even as infrastructure constraints hinder that trajectory, according to experts.

“We’ll continue to see a growing demand,” Jared Ruiz, vice president of the west region at Volvo Trucks North America, said. “Obviously, if you look at the total heavy-duty truck market in North America, it’s still a very small percentage today. But it’s definitely growing. I think it’ll continue to escalate upward.”

ACT Research and Rhein Associates said in a joint preliminary report March 8 that battery-electric truck production is expected to triple year-over-year in 2023. MarketsandMarkets said in a report March 23 that the global electric truck market is estimated to grow from 101,499 units in 2022 to 1,067,985 units by 2030 at a compound annual growth rate of 34.2%.