United States Electric Pick-up Trucks Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2030

The United States Electric Pick-up Trucks Market is segmented by Fuel Category (BEV, HEV, PHEV). The report offers market size in both market value in USD and market volume in unit. Further, the report includes a market split by Vehicle Type, Vehicle Configuration, Vehicle Body Type, Propulsion Type, and Fuel Category.

United States Electric Pick-up Trucks Market Size

United States Electric Pick-up Trucks Market Summary
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Icons Lable Value
svg icon Study Period 2017 - 2030
svg icon Market Size (2024) USD 14.09 Billion
svg icon Market Size (2030) USD 70.39 Billion
svg icon Largest Share by Fuel Category BEV
svg icon CAGR (2024 - 2030) 30.75 %
svg icon Fastest Growing by Fuel Category BEV
svg icon Market Concentration High

Major Players

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*Disclaimer: Major Players sorted in alphabetical order.

Key Players

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United States Electric Pick-up Trucks Market Analysis

The United States Electric Pick-up Trucks Market size is estimated at 14.09 billion USD in 2024, and is expected to reach 70.39 billion USD by 2030, growing at a CAGR of 30.75% during the forecast period (2024-2030).

14.09 Billion

Market Size in 2024 (USD)

70.39 Billion

Market Size in 2030 (USD)

115.19 %

CAGR (2017-2023)

30.75 %

CAGR (2024-2030)

Largest Segment by Fuel Category

61.23 %

value share, BEV, 2023

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Battery Electric Pick-up Trucks are the largest segment due to the growing demand for sustainable vehicles, advancements in electric truck technology, and significant government incentives.

Fastest-growing Segment by Fuel Category

35.97 %

Projected CAGR, BEV, 2024-2030

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BEVs in the pick-up truck segment are experiencing the fastest growth due to increasing consumer interest in reducing carbon footprints, enhanced battery technology, and expanding EV infrastructure.

Leading Market Player

69.49 %

market share, Ford Motor Company, 2023

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Ford leads the US pickup truck market with strong R&D capabilities and nine regional centers to develop and launch new vehicle models.

Second leading Market Player

15.68 %

market share, Toyota Motor Corporation, 2023

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Toyota Motor Corporation holds a significant market share due to its reputation for reliability, innovative electric vehicle technology, and a strong commitment to expanding its e-pick-up truck offerings.

Third Leading Market Player

13.43 %

market share, Rivian Automotive Inc., 2023

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Rivian Automotive Inc. is a key player due to its cutting-edge electric pick-up truck models, focus on adventure-ready vehicles, and strong backing from major investors and strategic partnerships.

With eco-centric business objectives intensifying, BEVs, offering zero emissions and competitive costs, are set to redefine commercial vehicular fleets

  • In 2024, the EPA and NHTSA in the United States proposed the Safer Affordable Fuel-Efficient (SAFE) vehicles rule, slated for implementation from 2021 to 2026. This rule is set to establish standards for corporate average fuel economy and greenhouse gas emissions for both passenger and light trucks. Additionally, the Zero Emission Vehicles (ZEV) program mandates OEMs to sell a specific number of clean and zero-emission vehicles, encompassing electric, hybrid, and fuel cell-powered options. The ZEV program has set a target of 12 million ZEVs on the road by 2030.
  • Major delivery firms are actively transitioning their fleets from gas-powered vehicles to electric or low-emission alternatives, driven by concerns over climate change and urban pollution. Leading e-commerce players have already made commitments to fully electrify their fleets. For instance, in March 2021, FedEx unveiled its global goal of having 50% of newly procured vehicles be electric by 2025, with a plan to reach 100% by 2030. FedEx's broader ambition is to achieve carbon-neutral operations worldwide by 2040, with a particular focus on electrifying its pick-up and delivery vehicles.
  • The surging growth of the logistics and e-commerce sectors is expected to drive up the demand for light commercial vehicles (LCVs). In 2021, retail e-commerce sales in the United States reached an estimated USD 768 billion, marking a year-on-year growth of 19.25% from around USD 645 billion in 2020. The market for electric LCVs is projected to witness a CAGR of 4.8% during 2022-2028.
United States Electric Pick-up Trucks Market

United States Electric Pick-up Trucks Market Trends

Rapid growth in electric vehicle sales driven by government initiatives and increasing demand in the US

  • The United States has witnessed a significant surge in the adoption of electric vehicles (EVs) in recent years. This uptick can be attributed to a heightened awareness of EVs, growing environmental concerns, and the implementation of government regulations. Notably, in 2016, California introduced the Zero-Emission Vehicle (ZEV) program aimed at curbing carbon emissions and improving air quality. This initiative has not only spurred the growth of electric cars within California but has also influenced other states to adopt similar ZEV regulations. Consequently, the nation saw a remarkable 634% surge in demand for battery electric vehicles (BEVs) from 2017 to 2022.
  • The demand for electric commercial vehicles in the United States is also on the rise. Factors such as the booming e-commerce industry, increased logistics activities, and governmental initiatives for cleaner transportation have fueled this growth. In a significant move, the governor of New York signed the Advanced Clean Truck (ACT) Rule in September 2021. This rule sets a target for all new light-duty vehicles to be zero-emission by 2035 and the same for medium- and heavy-duty vehicles by 2045. As a result, the United States witnessed a 21% surge in demand for electric commercial vehicles in 2022 compared to the previous year.
  • Governmental efforts, including rebates, subsidies, and strategic plans, are further bolstering the electrification of vehicles nationwide. In May 2022, President Biden unveiled a USD 3 billion plan to expedite domestic battery manufacturing, with the aim of transitioning gas-powered vehicles to electric ones. This push is expected to significantly boost electric mobility in the country, particularly during 2024-2030, thereby amplifying the demand for battery packs.
United States Electric Pick-up Trucks Market

OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT

  • The US population continues to grow steadily, driven by immigration and economic opportunities that require strategic planning
  • The CVP is expected to experience consistent growth, driven by technological advancements, a focus on sustainable transportation, and the US's commitment to automotive innovation and reducing carbon emissions
  • The recent US auto interest rate of 3.6% reflects fluctuations influenced by monetary policies, credit demand, and economic conditions, with a modest increase indicating optimism in the post-pandemic recovery
  • The United States achieved a milestone of 128,000 EV Charging Stations in 2022, and the country is poised for continued growth in green mobility
  • Rising demand and strategic product launches drive the electric vehicle market in the US.
  • The United States remained a net crude oil importer, importing about 6.28 million bpd from 80 countries
  • The US exhibits remarkable economic resilience and growth, driven by factors like robust financial markets, technological advancements, and adaptable policies
  • The United States grapples with fluctuating inflation but aims for stability for long-term economic leadership
  • Evolution of Mobility as a Service (MaaS) in the United States: a focus on shared rides, car rentals, car-sharing, and ride-hailing and taxi services
  • Decreasing battery pack prices and government initiatives drive the US electric vehicle market
  • The United States remained a net crude oil importer in 2022, importing about 6.28 million bpd of crude oil from 80 countries

United States Electric Pick-up Trucks Industry Overview

The United States Electric Pick-up Trucks Market is fairly consolidated, with the top five companies occupying 99.50%. The major players in this market are Canoo Inc., Ford Motor Company, General Motors Company, Rivian Automotive Inc. and Toyota Motor Corporation (sorted alphabetically).

United States Electric Pick-up Trucks Market Leaders

  1. Canoo Inc.

  2. Ford Motor Company

  3. General Motors Company

  4. Rivian Automotive Inc.

  5. Toyota Motor Corporation

United States Electric Pick-up Trucks Market Concentration

Other important companies include Lordstown Motors, MULLEN AUTOMOTIVE INC. (BOLLINGER MOTORS INC), Ram Trucking, Inc..

*Disclaimer: Major Players sorted in alphabetical order.

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United States Electric Pick-up Trucks Market
United States Electric Pick-up Trucks Market
United States Electric Pick-up Trucks Market
United States Electric Pick-up Trucks Market

United States Electric Pick-up Trucks Market Report - Table of Contents

  1. 1. EXECUTIVE SUMMARY & KEY FINDINGS

  2. 2. REPORT OFFERS

  3. 3. INTRODUCTION

    1. 3.1 Study Assumptions & Market Definition

    2. 3.2 Scope of the Study​

    3. 3.3 Research Methodology

  4. 4. KEY INDUSTRY TRENDS

    1. 4.1 Population

    2. 4.2 GDP Per Capita

    3. 4.3 Consumer Spending For Vehicle Purchase (cvp)

    4. 4.4 Inflation

    5. 4.5 Interest Rate For Auto Loans

    6. 4.6 Shared Rides

    7. 4.7 Impact Of Electrification

    8. 4.8 EV Charging Station

    9. 4.9 Battery Pack Price

    10. 4.10 New Xev Models Announced

    11. 4.11 Fuel Price

    12. 4.12 Oem-wise Production Statistics

    13. 4.13 Regulatory Framework

    14. 4.14 Value Chain & Distribution Channel Analysis

  5. 5. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2030 and analysis of growth prospects)

    1. 5.1 Fuel Category

      1. 5.1.1 BEV

      2. 5.1.2 HEV

      3. 5.1.3 PHEV

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Key Strategic Moves

    2. 6.2 Market Share Analysis

    3. 6.3 Company Landscape

    4. 6.4 Company Profiles

      1. 6.4.1 Canoo Inc.

      2. 6.4.2 Ford Motor Company

      3. 6.4.3 General Motors Company

      4. 6.4.4 Lordstown Motors

      5. 6.4.5 MULLEN AUTOMOTIVE INC. (BOLLINGER MOTORS INC)

      6. 6.4.6 Ram Trucking, Inc.

      7. 6.4.7 Rivian Automotive Inc.

      8. 6.4.8 Toyota Motor Corporation

  7. 7. KEY STRATEGIC QUESTIONS FOR VEHICLES CEOS

  8. 8. APPENDIX

    1. 8.1 Global Overview

      1. 8.1.1 Overview

      2. 8.1.2 Porter’s Five Forces Framework

      3. 8.1.3 Global Value Chain Analysis

      4. 8.1.4 Market Dynamics (DROs)

    2. 8.2 Sources & References

    3. 8.3 List of Tables & Figures

    4. 8.4 Primary Insights

    5. 8.5 Data Pack

    6. 8.6 Glossary of Terms

List of Tables & Figures

  1. Figure 1:  
  2. UNITED STATES ELECTRIC PICK-UP TRUCKS MARKET, POPULATION YOY GROWTH RATE, UNITS, 2017 - 2030
  1. Figure 2:  
  2. US MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
  1. Figure 3:  
  2. US MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
  1. Figure 4:  
  2. US MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
  1. Figure 5:  
  2. UNITED STATES ELECTRIC PICK-UP TRUCKS MARKET, INTEREST RATE FOR AUTO LOANS YOY GROWTH RATE, PERCENTAGE, 2017 - 2022
  1. Figure 6:  
  2. US MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
  1. Figure 7:  
  2. US MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
  1. Figure 8:  
  2. US MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
  1. Figure 9:  
  2. UNITED STATES ELECTRIC PICK-UP TRUCKS MARKET, NEW XEV MODELS ANNOUNCED, VOLUME, YOY GROWTH RATE, UNITS, 2023 - 2027
  1. Figure 10:  
  2. US MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2022
  1. Figure 11:  
  2. US MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2022
  1. Figure 12:  
  2. UNITED STATES ELECTRIC PICK-UP TRUCKS MARKET, VOLUME IN UNITS, 2017 - 2030
  1. Figure 13:  
  2. UNITED STATES ELECTRIC PICK-UP TRUCKS MARKET, VALUE IN USD, 2017 - 2030
  1. Figure 14:  
  2. UNITED STATES ELECTRIC PICK-UP TRUCKS MARKET, BY FUEL CATEGORY, BY VOLUME IN UNITS, 2017 - 2030
  1. Figure 15:  
  2. UNITED STATES ELECTRIC PICK-UP TRUCKS MARKET, BY FUEL CATEGORY, BY VALUE IN USD, 2017 - 2030
  1. Figure 16:  
  2. UNITED STATES ELECTRIC PICK-UP TRUCKS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
  1. Figure 17:  
  2. UNITED STATES ELECTRIC PICK-UP TRUCKS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
  1. Figure 18:  
  2. UNITED STATES ELECTRIC PICK-UP TRUCKS MARKET, BY BEV, BY VOLUME IN UNITS, 2017 - 2030
  1. Figure 19:  
  2. UNITED STATES ELECTRIC PICK-UP TRUCKS MARKET, BY BEV, BY VALUE IN USD, 2017 - 2030
  1. Figure 20:  
  2. UNITED STATES ELECTRIC PICK-UP TRUCKS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
  1. Figure 21:  
  2. UNITED STATES ELECTRIC PICK-UP TRUCKS MARKET, BY FCEV, BY VOLUME IN UNITS, 2017 - 2030
  1. Figure 22:  
  2. UNITED STATES ELECTRIC PICK-UP TRUCKS MARKET, BY FCEV, BY VALUE IN USD, 2017 - 2030
  1. Figure 23:  
  2. UNITED STATES ELECTRIC PICK-UP TRUCKS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
  1. Figure 24:  
  2. UNITED STATES ELECTRIC PICK-UP TRUCKS MARKET, BY HEV, BY VOLUME IN UNITS, 2017 - 2030
  1. Figure 25:  
  2. UNITED STATES ELECTRIC PICK-UP TRUCKS MARKET, BY HEV, BY VALUE IN USD, 2017 - 2030
  1. Figure 26:  
  2. UNITED STATES ELECTRIC PICK-UP TRUCKS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
  1. Figure 27:  
  2. UNITED STATES ELECTRIC PICK-UP TRUCKS MARKET, BY PHEV, BY VOLUME IN UNITS, 2017 - 2030
  1. Figure 28:  
  2. UNITED STATES ELECTRIC PICK-UP TRUCKS MARKET, BY PHEV, BY VALUE IN USD, 2017 - 2030
  1. Figure 29:  
  2. UNITED STATES ELECTRIC PICK-UP TRUCKS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
  1. Figure 30:  
  2. UNITED STATES ELECTRIC PICK-UP TRUCKS MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2017 - 2030
  1. Figure 31:  
  2. UNITED STATES ELECTRIC PICK-UP TRUCKS MARKET, MOST ADOPTED STRATEGIES, 2017 - 2030
  1. Figure 32:  
  2. UNITED STATES ELECTRIC PICK-UP TRUCKS MARKET SHARE(%), BY MAJOR PLAYERS, 2021

United States Electric Pick-up Trucks Industry Segmentation

BEV, HEV, PHEV are covered as segments by Fuel Category.

  • In 2024, the EPA and NHTSA in the United States proposed the Safer Affordable Fuel-Efficient (SAFE) vehicles rule, slated for implementation from 2021 to 2026. This rule is set to establish standards for corporate average fuel economy and greenhouse gas emissions for both passenger and light trucks. Additionally, the Zero Emission Vehicles (ZEV) program mandates OEMs to sell a specific number of clean and zero-emission vehicles, encompassing electric, hybrid, and fuel cell-powered options. The ZEV program has set a target of 12 million ZEVs on the road by 2030.
  • Major delivery firms are actively transitioning their fleets from gas-powered vehicles to electric or low-emission alternatives, driven by concerns over climate change and urban pollution. Leading e-commerce players have already made commitments to fully electrify their fleets. For instance, in March 2021, FedEx unveiled its global goal of having 50% of newly procured vehicles be electric by 2025, with a plan to reach 100% by 2030. FedEx's broader ambition is to achieve carbon-neutral operations worldwide by 2040, with a particular focus on electrifying its pick-up and delivery vehicles.
  • The surging growth of the logistics and e-commerce sectors is expected to drive up the demand for light commercial vehicles (LCVs). In 2021, retail e-commerce sales in the United States reached an estimated USD 768 billion, marking a year-on-year growth of 19.25% from around USD 645 billion in 2020. The market for electric LCVs is projected to witness a CAGR of 4.8% during 2022-2028.
Fuel Category
BEV
HEV
PHEV
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Market Definition

  • Vehicle Type - The category includes Light Commercial Vehicle.
  • Vehicle Body Type - This include Light Commercial Pick-up Trucks category.
  • Fuel Category - The category exclusively covers electric propulsion systems, including various types such as HEV (Hybrid Electric Vehicles), PHEV (Plug-in Hybrid Electric Vehicles), BEV (Battery Electric Vehicles), and FCEV (Fuel Cell Electric Vehicles).
Keyword Definition
Electric Vehicle (EV) A vehicle which uses one or more electric motors for propulsion. Includes cars, buses, and trucks. This term includes all-electric vehicles or battery electric vehicles and plug-in hybrid electric vehicles.
BEV A BEV relies completely on a battery and a motor for propulsion. The battery in the vehicle must be charged by plugging it into an outlet or public charging station. BEVs do not have an ICE and hence are pollution-free. They have a low cost of operation and reduced engine noise as compared to conventional fuel engines. However, they have a shorter range and higher prices than their equivalent gasoline models.
PEV A plug-in electric vehicle is an electric vehicle that can be externally charged and generally includes all-electric vehicles as well as plug-in hybrids.
Plug-in Hybrid EV A vehicle that can be powered either by an ICE or an electric motor. In contrast to normal hybrid EVs, they can be charged externally.
Internal combustion engine An engine in which the burning of fuels occurs in a confined space called a combustion chamber. Usually run with gasoline/petrol or diesel.
Hybrid EV A vehicle powered by an ICE in combination with one or more electric motors that use energy stored in batteries. These are continually recharged with power from the ICE and regenerative braking.
Commercial Vehicles Commercial vehicles are motorized road vehicles designed for transporting people or goods. The category includes light commercial vehicles (LCVs) and medium and heavy-duty vehicles (M&HCV).
Passenger Vehicles Passenger cars are electric motor– or engine-driven vehicles with at least four wheels. These vehicles are used for the transport of passengers and comprise no more than eight seats in addition to the driver’s seat.
Light Commercial Vehicles Commercial vehicles that weigh less than 6,000 lb (Class 1) and in the range of 6,001–10,000 lb (Class 2) are covered under this category.
M&HDT Commercial vehicles that weigh in the range of 10,001–14,000 lb (Class 3), 14,001–16,000 lb (Class 4), 16,001–19,500 lb (Class 5), 19,501–26,000 lb (Class 6), 26,001–33,000 lb (Class 7) and above 33,001 lb (Class 8) are covered under this category.
Bus A mode of transportation that typically refers to a large vehicle designed to carry passengers over long distances. This includes transit bus, school bus, shuttle bus, and trolleybuses.
Diesel It includes vehicles that use diesel as their primary fuel. A diesel engine vehicle have a compression-ignited injection system rather than the spark-ignited system used by most gasoline vehicles. In such vehicles, fuel is injected into the combustion chamber and ignited by the high temperature achieved when gas is greatly compressed.
Gasoline It includes vehicles that use gas/petrol as their primary fuel. A gasoline car typically uses a spark-ignited internal combustion engine. In such vehicles, fuel is injected into either the intake manifold or the combustion chamber, where it is combined with air, and the air/fuel mixture is ignited by the spark from a spark plug.
LPG It includes vehicles that use LPG as their primary fuel. Both dedicated and bi-fuel LPG vehicles are considered under the scope of the study.
CNG It includes vehicles that use CNG as their primary fuel. These are vehicles that operate like gasoline-powered vehicles with spark-ignited internal combustion engines.
HEV All the electric vehicles that use batteries and an internal combustion engine (ICE) as their primary source for propulsion are considered under this category. HEVs generally use a diesel-electric powertrain and are also known as hybrid diesel-electric vehicles. An HEV converts the vehicle momentum (kinetic energy) into electricity that recharges the battery when the vehicle slows down or stops. The battery of HEV cannot be charged using plug-in devices.
PHEV PHEVs are powered by a battery as well as an ICE. The battery can be charged through either regenerative breaking using the ICE or by plugging into some external charging source. PHEVs have a better range than BEVs but are comparatively less eco-friendly.
Hatchback These are compact-sized cars with a hatch-type door provided at the rear end.
Sedan These are usually two- or four-door passenger cars, with a separate area provided at the rear end for luggage.
SUV Popularly known as SUVs, these cars come with four-wheel drive, and usually have high ground clearance. These cars can also be used as off-road vehicles.
MPV These are multi-purpose vehicles (also called minivans) designed to carry a larger number of passengers. They carry between five and seven people and have room for luggage too. They are usually taller than the average family saloon car, to provide greater headroom and ease of access, and they are usually front-wheel drive.
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Research Methodology

Mordor Intelligence follows a four-step methodology in all its reports.

  • Step-1: Identify Key Variables: To build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built based on these variables.
  • Step-2: Build a Market Model: Market-size estimations for the historical and forecast years have been provided in revenue and volume terms. Market revenue is calculated by multiplying the sales volume with their respective average selling price (ASP). While estimating ASP factors like average inflation, market demand shift, manufacturing cost, technological advancement, and varying consumer preference, among others have been taken into account.
  • Step-3: Validate and Finalize: In this important step, all market numbers, variables, and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
  • Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms.
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United States Electric Pick-up Trucks Market Research FAQs

The United States Electric Pick-up Trucks Market size is expected to reach USD 14.09 billion in 2024 and grow at a CAGR of 30.75% to reach USD 70.39 billion by 2030.

In 2024, the United States Electric Pick-up Trucks Market size is expected to reach USD 14.09 billion.

Canoo Inc., Ford Motor Company, General Motors Company, Rivian Automotive Inc. and Toyota Motor Corporation are the major companies operating in the United States Electric Pick-up Trucks Market.

In the United States Electric Pick-up Trucks Market, the BEV segment accounts for the largest share by fuel category.

In 2024, the BEV segment accounts for the fastest growing by fuel category in the United States Electric Pick-up Trucks Market.

In 2023, the United States Electric Pick-up Trucks Market size was estimated at 14.09 billion. The report covers the United States Electric Pick-up Trucks Market historical market size for years: 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the United States Electric Pick-up Trucks Market size for years: 2024, 2025, 2026, 2027, 2028, 2029 and 2030.

United States Electric Pick-up Trucks Industry Report

Statistics for the 2023 United States Electric Pick-up Trucks market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. United States Electric Pick-up Trucks analysis includes a market forecast outlook to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.

United States Electric Pick-up Trucks Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2030