Heavy-duty Electric Trucks Market To Reach $6.45 Billion By 2033

Heavy-duty Electric Trucks Market Growth & Trends

The global heavy-duty electric trucks market size is expected to reach USD 6.45 billion by 2033, registering a CAGR of 15.1% from 2026 to 2033, according to a new report by Grand View Research, Inc. The market is growing due to government incentives and stringent emission regulations, which encourage the shift from traditional diesel to electric vehicles (EVs). Technological advancements in battery efficiency and charging infrastructure make electric trucks more viable and attractive for long-haul operations. In addition, increased environmental awareness and demand for sustainable transport solutions drive fleet operators to adopt heavy-duty electric trucks, thereby supporting market growth.

Government support for electrifying heavy-duty vehicles is expected to propel the market’s growth. For instance, in March 2024, the U.S. Environmental Protection Agency (EPA) finalized new greenhouse gas (GHG) standards for manufacturing, importing, and selling heavy-duty trucks. These standards are anticipated to promote the production of trucks powered by electricity and hydrogen, aiming to reduce GHG emissions by up to 60 percent for certain vehicle classes by 2032. Such government initiatives are expected to bode well for the market’s growth. The technology for heavy-duty electric trucks is advancing rapidly, with companies like AB Volvo, Daimler Truck AG, and Nikola Corp. developing electric trucks to manage substantial loads over long distances.

For instance, Nikola Corp. offers Nikola Tre BEV, a fully electric class 8 semi-truck for commercial applications. The Tre BEV has advanced safety systems, such as advanced emergency braking, lane departure warning, and front & rear cameras, which enhance the driving experience. Heavy-duty electric trucks in waste management enhance efficiency with increased payload capacity, reducing the number of collection trips and lowering emissions. Their near-silent operation minimizes noise pollution, benefiting residential areas. These trucks meet strict environmental standards, promoting sustainability. Thus, increasing demand for heavy-duty electric trucks for waste management applications is expected to boost market growth from 2024 to 2030.

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Heavy-duty Electric Trucks Market Report Highlights

• Heavy-duty electric trucks are transforming the transportation industry with their numerous benefits. Some of the benefits include reduced carbon footprint, enhanced performance, operational efficiency, quieter operations, economic advantages, and reduced maintenance needs.

• The Qualified Commercial Clean Vehicle tax credit provides up to USD 40,000 in tax credits for the purchase of eligible electric trucks and other large commercial vehicles acquired and placed into service on or after January 1, 2023

• The class 7 segment dominated the market in 2025 and accounted for a 62.72% share of the global revenue. Class 7 heavy-duty electric trucks have a gross vehicle weight rating (GVWR) between 26,001 pounds and 33,000 pounds

• The class 8 segment is projected to witness significant growth from 2026 to 2033. Class 8 heavy-duty electric trucks have a GVWR of 33,001 pounds or over.

• The Hybrid Electric Vehicle (HEV) segment dominated the market in 2025. Hybrid heavy-duty trucks combine the advantages of both electric powertrains and traditional combustion engine powertrains, offering a versatile vehicle capable of operating emission-free when required.

• The logistics and delivery segment dominated the market in 2025. The shift towards electric trucks in the transportation industry aims to enhance the efficiency of goods deliveries.

• Asia Pacific dominated the heavy-duty electric trucks industry and accounted for a share of 85.1% in 2025. The heavy-duty electric trucks market in the Asia Pacific region dominated the global market in 2025.

Heavy-duty Electric Trucks Market Segmentation

Grand View Research has segmented the global heavy-duty electric trucks market based on vehicle class, propulsion type, application, and region:

Heavy-duty Electric Trucks Vehicle Class Outlook (Volume, Units; Revenue, USD Million, 2021 - 2033)

• Class 7

• Class 8

Heavy-duty Electric Trucks Propulsion Type Outlook (Volume, Units; Revenue, USD Million, 2021 - 2033)

• Battery Electric Vehicle (BEV)

• Plug-in Hybrid Electric Vehicle (PHEV)

• Hybrid Electric Vehicle (HEV)

Heavy-duty Electric Trucks Application Outlook (Volume, Units; Revenue, USD Million, 2021 - 2033)

• Logistics and Delivery

• Construction

• Waste Management

• Others

Heavy-duty Electric Trucks Regional Outlook (Volume, Units; Revenue, USD Million, 2021 - 2033)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

• Asia Pacific

  • China

  • India

  • Japan

  • Australia

  • South Korea

• Latin America

  • Brazil

• Middle East & Africa

  • UAE

  • Kingdom of Saudi Arabia

  • South Africa

List of Key Players in Heavy-duty Electric Trucks Market

• AB Volvo

• BYD Motors Inc.

• Nikola Corporation

• Daimler Truck AG

• Navistar, Inc.

• Scania

• Tevva Motors Limited

• Kenworth Truck Company

• DAF Trucks

• SAIC HONGYAN Automotive Co., Ltd.