Electric Truck Market

Electric trucks can be used in various applications and are more efficient than trucks with combustion engines. In fact, they only consume 64-75% of the energy that combustion engines use when driving and idling. This is great news for companies looking to decrease operating costs and reduce emissions. The adoption of electric trucks is happening quickly. In fact, many truck manufacturers now offer electric versions of their vehicles and fleet owners are experimenting with using them in the short and long-haul. This includes large freight haulers and warehouses as well as trucking start-ups and private equity firms. There is also a growing community of e-truck providers that is providing the charging infrastructure to support this movement.

Market Dynamics:

Governments around the world are implementing progressive policies and incentivizing initiatives to encourage EV adoption. This is anticipated to propel the market growth in the coming years. In addition, stringent emission norms imposed on fossil fuel powered commercial vehicles are driving manufacturers to switch over to electric trucks.

However, lack of charging infrastructure is expected to hinder the market growth. Nonetheless, rapid advancement in electric vehicle battery technology and rising demand for electric trucks from the logistics sector are anticipated to offer significant opportunities for players in the global electric truck market.

Key features of the study:

• This report provides in-depth analysis of the global electric truck market, and provides market size (US$ Billion) and compound annual growth rate (CAGR%) for the forecast period (2023–2030), considering 2022 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global electric truck market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include AB Volvo, Workhorse, BYD Company Ltd., Tesla, Daimler AG, Scania AB, Tata Motors, Rivian, Dongfeng Motor Group Co., Ltd., Man SE.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• The global electric truck market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global electric truck market

Detailed Segmentation:

• Global Electric Truck Market, By Propulsion
  • Battery electric vehicle
  • Hybrid electric vehicle
  • Plug-in hybrid electric vehicle
  • Fuel cell electric vehicle
• Global Electric Truck Market, By Vehicle type
  • Light-duty electric truck
  • Medium-duty electric truck
  • Heavy-duty electric truck
• Global Electric Truck Market, By Range
  • 0-150 miles
  • 151-300 miles
  • 300 miles above
• Global Electric Truck Market, By Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
• Company Profile:
  • AB Volvo
  • Byd Company Ltd
  • Daimler AG
  • Tata Motors
  • Dongfeng Motor Group Co., Ltd.
  • Man SE
  • Rivian
  • Scania AB
  • Tesla
  • Workhorse