Frost Radar™: North American Electric Medium and Heavy Duty Truck Market, 2022

Frost Radar™: North American Electric Medium and Heavy Duty Truck Market, 2022

As the North American transportation and mobility sector transitions toward electrification in the next decade, new opportunities and demand for greener powertrain alternatives will surface. The biggest opportunities lie in battery electric technology to expedite the adoption of cleaner, more sustainable transportation.

Many new participants entering the electric medium and heavy-duty truck space are drawn to the sheer potential in volume and viable business cases for early adoption of electrification. Numerous new OEMs are also entering the electric medium and heavy-duty truck space attracted by the scope on offer to eliminate carbon emissions. Trucks are one of the largest contributors to transportation-related CO2 emissions. Hence, the industry offers great potential in tackling this problem.

While legacy OEMs dominate development, there are noteworthy startups building electric trucks from scratch and introducing fresh, dedicated platforms for electrification that make trucks highly efficient.OEMs, component suppliers, and raw material providers need to collaborate to produce greener, more technologically feasible, and financially viable transportation modes for customers.

Industry stakeholders are working together to provide customers with vital end-to-end solutions. Improving battery chemistry and properties to
lower costs and increase energy density will play a big role in accelerating the electrification potential of vehicles used in heavy-duty applications Frost & Sullivan identified 8 companies disrupting the emerging North American electric medium and heavy-duty truck market with their cutting-edge innovation, groundbreaking technology, strong partnerships, and strategic product positioning. They are Tesla, Nikola Motor, XoS Trucks, Lion Electric, SEA Electric, Zeus Electric Chassis, Phoenix Motorcars, and Solo AVT. These companies either have a presence or are preparing to commercially launch electric trucks on North American roads in the near term.

KEY ISSUES ADDRESSED:

Which are North America's major startups in the electric medium and heavy-duty truck space?
What are these companies' growth and innovation strategies over the forecast period?
Which applications and verticals are these companies present in?
Which customers do these companies target?
How do these companies stack up against each other in terms of innovation and growth outlook?