Study Finds U.S. Electric Truck Sales Will Rise Exponentially By 2025
It expects the number of EV trucks on US roads to skyrocket from 2,000 in 2019 to over 50,000 in five years’ time.
The electric truck segment will gain several brand new and very interesting models in the next year or two. This influx of new metal will spur the EV truck segment on considerably, and according to a study by analysts from Wood Mackenzie, we should prepare for an exponential rise in the number of such vehicles on the road.
The study states that
‘ Compared to passenger electric vehicle (EV) and electric bus penetration levels, the electric truck market is still in its infancy. Planning for this huge growth in electric truck charging infrastructure needs to take into consideration the size of the electric fleet, hardware and installation costs, charging technologies and battery size. However, unlike most other EV segments, electric trucks have a few distinctive considerations when it comes to charging. ‘
It goes on to state that the widespread adoption of electric trucks will face the same hurdles as EV passenger cars have: higher cost, charging infrastructure, range and it points out that wireless charging is a much more viable option for commercial vehicles (that are part of fleets) than it is for smaller cars.
According to research presented in the study, there were around 2,000 all-electric trucks (of all sizes) operating in the United States. It, however, expects that number to grow exponentially to over 54,000 BEV trucks by the year 2025, mostly thanks to predicted bulk fleet purchases.
The study argues that it will be the financial incentive that determines this sharp increase, once companies realize they can actually save money if they operate electric trucks for certain duties.
‘ Fleet electrification provides operators with many financial and environmental benefits on its own due to lower fuel and maintenance costs and zero tailpipe emissions. Support from policymakers and utilities is just getting off the ground, and fleet operators willing to test this new technology can take advantage of incentive and pilot programs to advance their own electrification goals. ‘