Electric Pickup Vehicle Market is predicted to reach at a CAGR of 28.20% during the forecast period 2023-2032

Market Research Future (MRFR) has published on the “Global Electric Pickup Vehicle Market”.

The Electric Pickup Vehicle market is estimated to register a CAGR of 28.20% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the global Electric Pickup Vehicle market— AB Volvo, Workhorse, Dongfeng Motor Company, Paccar Inc., Geely Automobiles Holdings Ltd., Man SE, BYD Company Ltd., Tata Motors, Daimler AG, and Scania.

Market Highlights

The global Electric Pickup Vehicle market is accounted to register a CAGR of 28.20% during the forecast period and is estimated to reach by 2032.

The electric pickup vehicle market is propelled by several key drivers. Increasing environmental consciousness and a global shift towards sustainable transportation solutions are significant influencers, with consumers seeking eco-friendly alternatives. Advancements in battery technology, reducing costs and enhancing performance, contribute to the market's growth, addressing concerns about range anxiety and affordability. Supportive government incentives and policies worldwide, promoting electric vehicle adoption, further stimulate market demand. As major automakers invest heavily in electric pickup models, competition intensifies, driving innovation and expanding consumer choices. Additionally, a surge in awareness about climate change and air quality issues fuels the preference for electric pickups, reflecting a broader societal commitment to reduce carbon emissions. These interconnected factors collectively fuel the expansion of the electric pickup vehicle market, shaping it as a pivotal and dynamic segment in the automotive industry.

Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Electric Pickup Vehicle Market Research Report

Segment Analysis

The global Electric Pickup Vehicle market has been segmented based on propulsion, range, end user, battery capacity, payload capacity, and level of automation

Based on propulsion, the global Electric Pickup Vehicle market has been segmented into Battery Electric Truck, Hybrid Electric Truck, Plug-in Hybrid Electric Truck, and Fuel Cell Electric Truck. The Battery Electric Truck segment was expected to hold the largest market share in 2022.  BEVs epitomize a cleaner, fully electric propulsion system, eliminating reliance on traditional fuels. The global emphasis on curbing carbon emissions aligns seamlessly with BEVs' zero-emission nature.

Based on range, the global Electric Pickup Vehicle market has been segmented into up to 150 Miles, 151-300 Miles, and Above 300 Miles. The 151-300 Miles segment was anticipated to hold the major market share in 2022. This range achieves a harmonious equilibrium between practicality and versatility, adeptly meeting a significant portion of diverse transportation requirements.

Based on end users, the global Electric Pickup Vehicle market has been segmented into Last Mile Delivery, Long Haul Transportation, Refuse Services, Field Services, and Distribution Services. The last-mile delivery segment was expected to hold the biggest market share in 2022. Lower operational costs and diminished noise pollution make battery electric trucks an enticing option for last-mile delivery services.

Based on battery capacity, the global Electric Pickup Vehicle market has been segmented into Less Than 50 kWh, 50-250 kWh, and Above 250 kWh. The 50-250 KWh segment was anticipated to hold the major market share in 2022. Within this battery capacity range, a pragmatic balance between range and weight emerges, making it apt for applications such as last-mile delivery and regional distribution, ensuring optimal energy storage without compromising manageability.

Based on payload capacity, the global Electric Pickup Vehicle market has been segmented into up to 10,000 lbs, 10,001-26,000 lbs, and Above 26,001 lbs. The 10,001-26,000 lbs segment was expected to hold the biggest market share in 2022. Encompassing regional distribution, field services, and some long-haul transportation needs, this payload capacity range caters to a wide array of applications.

Based on the level of automation, the global Electric Pickup Vehicle market has been segmented into Semi-autonomous and Autonomous. The Semi-autonomous segment was anticipated to hold the major market share in 2022. Semi-autonomous technology serves as a stepwise progression towards automation, effectively tackling safety concerns and regulatory challenges.

Regional Analysis

The global Electric Pickup Vehicle market, based on region, has been divided into North America, Europe, Asia-Pacific, and Rest of the World. North America consists of the US and Canada. The Europe Electric Pickup Vehicle market comprises Germany, France, the UK, Italy, Spain, and the rest of Europe. The Electric Pickup Vehicle market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Electric Pickup Vehicle market comprises of Middle East, Africa, and Latin America.

North America is poised for dominance owing to its robust electric vehicle (EV) infrastructure and robust government support. The region boasts a mature charging network, ensuring convenience for EV owners. Government incentives, tax credits, and subsidies further incentivize the adoption of electric trucks. Additionally, major automotive manufacturers' commitment to investing in and producing electric pickup trucks reinforces North America's prominence.

Moreover, the Europe market has been persistently growing over the forecast period propelled by stringent emission regulations and heightened environmental awareness. The European Union's ambitious carbon emission reduction targets and the implementation of strict emission standards by many countries in the region favor electric vehicle adoption. A conscious consumer base, coupled with supportive government policies, positions Europe as a pivotal market for electric pickup trucks.

Additionally, Asia Pacific is anticipated to experience the quickest growth over the forecast period due to rapid urbanization, a sizable population, and favorable government policies. The expanding urban areas in the region underscore a heightened focus on sustainable transportation solutions to address environmental issues and congestion. Governments in nations like China, Japan, and South Korea actively endorse electric vehicles through incentives and regulations, fostering a conducive environment for the electric pickup truck market's growth.

Furthermore, the rest of the world's Electric Pickup Vehicle market is divided into the Middle East, Africa, and Latin America. This growth is owing to emerging markets and distinct transportation challenges.

Key Findings of the Study

• The global Electric Pickup Vehicle market is expected to reach USD XX billion by 2032, at a CAGR of 28.20% during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market due to rapid urbanization, a sizable population, and favorable government policies


• Based on propulsion, the Battery Electric Truck segment was attributed to holding the largest market in 2022, with approximately above quarter of market share.


• AB Volvo, Workhorse, Dongfeng Motor Company, Paccar Inc., Geely Automobiles Holdings Ltd., Man SE, BYD Company Ltd., Tata Motors, Daimler AG, and Scania.