The electrification of commercial vehicles, such as trucks, buses, and fleet vehicles, is rapidly gaining momentum worldwide. The number of electric vehicles in commercial and government fleets in the United States has significantly increased over the past few years, reaching over one million in 2021. This growth is attributed to various factors, including declining battery costs, expanded charging infrastructure, government incentives, and corporate sustainability initiatives. It is projected that by 2030, there will be over four million electric vehicles in US fleets, as major fleet operators commit to transitioning a portion of their vehicles to electric over the next decade.
The need for transitioning to electric fleets is no longer just a trend but a necessity driven by the significant fuel consumption and greenhouse gas emissions of medium- and heavy-duty trucks. Various countries have pledged to reduce emissions as part of the 2015 Paris Agreement, leading to the adoption of electric fleet vehicles as a means to lower emissions. The share of electric fleet vehicles is expected to grow from less than 1 percent to 12 percent by 2030, supported by factors such as lower battery costs, industry partnerships, and government incentives. The adoption of electric vehicles for urban delivery trucks is also being promoted to reduce noise and air pollution.
The Environmental Protection Agency (EPA) has proposed new standards to reduce greenhouse gas emissions from heavy-duty vehicles for model years 2027-2032 as part of its Clean Trucks Plan. These standards are aimed at complementing previous regulations on emissions from new heavy-duty engines and vehicles. Recent advancements in vehicle emission standards have led to a decrease in CO2 emissions and an increase in fuel economy, setting the stage for continued improvement in the coming years. Additionally, the total cost of ownership for battery electric vehicles is projected to outperform internal combustion engine vehicles across all classes by 2025.
Effective thermal management is crucial for optimizing the performance and reliability of high-voltage batteries and power electronics in electric trucks and buses. Innovations in thermal management materials, such as Parker Lord’s CoolTherm portfolio, play a significant role in dissipating heat efficiently and protecting components from overheating. These materials help enhance the reliability, efficiency, and safety of electric fleets by managing heat in critical electronic components. Parker Lord offers a range of thermal management solutions, including potting and encapsulants, thermally conductive gap fillers, and thermally conductive adhesives, to support the transition to sustainable and electrified transportation.
As the demand for commercial electric vehicle fleets continues to rise, robust thermal management solutions become increasingly important in advancing the reliability, efficiency, and safety of these vehicles. As a one-stop shop for reliable and high-performing EV fleet solutions, Parker Lord offers a range of thermal management products and dielectric coatings designed to protect components from heat and corrosion. With a commitment to supporting customers with dedicated technical assistance and localized R&D efforts, Parker Lord is well-positioned to contribute to the transition towards a cleaner and more sustainable transportation future.
The future outlook for electric vehicle fleets is promising, with significant growth projected in both the US and global markets. As the electric vehicle market expands, the adoption of electric fleets for businesses is expected to accelerate, driving the transition to a more sustainable transportation ecosystem. Innovations in materials and technologies, particularly in thermal management solutions, will play a crucial role in advancing the reliability, efficiency, and safety of electric fleets. By leveraging cutting-edge thermal management solutions, such as those offered by Parker Lord, businesses can propel the transition towards a more sustainable and electrified transportation future.
