This competitive benchmarking focuses on the growth of the electric truck market in North America and its aftermarket service opportunities. The study provides information on key OEMs and non-OEMs and their electric truck service strategies. Opportunity size is determined by forecasting the number of LD, MD, and HD trucks on the road and the average number of miles these travel on the road. The analysis covers different business models already adopted and the future strategies of the target companies. Owing to the greater push toward reducing carbon emissions from the transportation industry, the demand for electric trucks will grow in the next few years. Service and maintenance of such trucks will be key to sustaining smooth operations and the gradual replacement of ICE trucks in transportation. OEMs, suppliers, and new entrants in the electrification ecosystem are working on providing aftermarket servicing to electric trucks. The introduction of more than 15 truck models at the end of 2022 has created the requirement for an extensive service network. Remote diagnostics and on-site mobile diagnostics are popular choices along the electric truck value chain. Service providers should address the unique opportunity to target OEMs and suppliers aiming to service electric trucks. Though electric truck adoption is still nascent, truck analytics and insights will ease the transition from maintaining an ICE fleet to an electric fleet. It is vital that the personnel handling electric truck servicing be equipped with the necessary skills. As a result, electric truck OEMs, component suppliers, and service providers will have to collaboratively work to train/upskill qualified personnel and upgrade existing aftermarket service networks. Electric truck servicing will offer huge growth opportunities within remote diagnostics and prognostics. Partnerships among technology companies and service providers, to develop advanced software and systems, will open up new revenue streams and make the way for unique business models.

Author: Vineeth Purushotham