Battery Electric Truck Production Expected to Triple in 2023

When it comes to policy, Andrew Wrobel, Senior Powertrain Analyst at Escelant [Rhein Associates], noted that the California Air Resources Board (CARB) has approved a $2.6 billion investment plan aimed at accelerating the shift toward zero-emission transportation. Most of the funding will go toward cleaner trucks and buses, signaling a strong push for sustainable mobility in the state.

Wrobel also pointed out that battery electric truck production is expected to triple this year compared to 2022. However, even with this impressive growth, electric trucks still represent less than 1% of total truck production, highlighting the long road ahead for full electrification in the commercial vehicle sector.

Turning to the U.S. economic outlook, Kenny Vieth, President and Senior Analyst at ACT Research, shared his perspective. He mentioned that the U.S. economy grew by 2.9% in Q4 2022, exceeding expectations and bringing the full-year growth to 2.1%. This was the first quarter since the pandemic started where all economic sectors contributed positively. While the economy remains resilient, Vieth emphasized that a recession is still likely, though it may be mild and short-lived. The timing, however, has shifted from early 2023 to now being tied to political uncertainty around the debt ceiling and U.S. creditworthiness.

The North American on-highway engine forecast, jointly published by ACT Research and Escelant [Rhein Associates], offers detailed insights into power-source activity for commercial vehicles with gross vehicle weights between 5 and 8. It includes five-year projections of engine volumes and product trends, aligning with ACTâ€™s monthly NA commercial vehicle forecasts. This report is a valuable resource for companies involved in the commercial vehicle engine supply chain, as well as investors tracking engine OEMs and their suppliers.

Rhein Associates is a leading provider of competitive intelligence in the North American commercial vehicle and off-highway powertrain markets. Known for its comprehensive databases, in-depth analysis, and industry-connected experts, the company covers both on-road and off-road applications, including marine, industrial, agricultural, and electrification sectors. Rhein Associates publishes The Rhein Report, offering regular market analysis through news and commentary. Its powertrain forecast database spans from 2010 to 2033, covering both on- and off-highway applications. For more information, visit www.rheinassociates.com.

ACT Research is a top source for commercial vehicle data, market analysis, and forecasts in North America and China. Its reports are widely used by major truck and trailer manufacturers, suppliers, and financial institutions. ACT is also a contributor to the Blue Chip Economic Indicators and a member of the Wall Street Journal Economic Forecast Panel. The firm has received numerous accolades, including recognition from the National Association for Business Economics and the Lawrence R. Klein Award for accurate economic forecasting. ACTâ€™s senior staff have been named among the top economic forecasters by outlets like the Wall Street Journal and USA Today. Learn more at www.actresearch.net.

Ultral High Temperature HTF 380

Ultral High Temperature HTF 380(-14â„ƒ~380â„ƒ)

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