Electric Truck Market - Trends Forecast Till 2028

The Electric Truck Market has been segmented by Electric Propulsion type (Plug-in Hybrid, Fuel Cell Electric, and Battery Electric), by Application (Logistics, Municipal, Construction, Mining, and Other Applications), by Truck Type (Light-duty Truck, Medium-duty Truck, and Heavy-duty Truck), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa and South America)

Published Date: December, 2021

Base Year Estimate: 2020

Report ID: D-AU-ETM-619

Format:  

Number of Pages: 351

Domain: Automotive

Electric Truck Market – Trends Forecast Till 2028

The electric truck market was valued at around USD 20 billion in 2020, and it is expected to reach USD 44 billion by 2026, and is anticipated to register a CAGR of 14.30 % during the forecast period (2021 - 2028).

The electric truck market covers the latest trends and technological developments in the electrical market, demand of the truck type, application type, and market share of major electric truck manufacturers across the world.

Increasing government initiatives for promotion of e-mobility and stringent emission norms imposed on fossil-fuel powered vehicles are some of the factors that have supported long-term expansion for Electric Truck Market.

The market has been impacted by the outbreak of pandemic COVID-19, as the major economies of the went under lockdown and demand for commercial vehicles fell down drastically as only essential activities were permitted during the lockdown period.

Electric Truck Market Report

European region accounts for the largest market share for the electric truck market in the forecasted period. The electric truck market in Europe is segmented into France, Germany, Netherlands, Norway, Sweden, and United Kingdom. Europe has stringent emission regulation standards. The governments of European region are providing huge incentives to promote electric vehicles. As a result, the demand for electric vehicles has increased tremendously in the region.

Electric Truck Market is segmented into electric propulsion type, application, truck type and region.

On the basis of Electric Propulsion Type

  • Plug in hybrid
  • Fuel cell electric
  • Battery electric

On the basis of Application

  • Logistics
  • Municipal
  • Construction
  • Mining

On the basis of Truck Type

  • Light duty truck
  • Medium duty truck
  • Heavy duty truck

On the basis of Region

  • Asia Pacific
  • North America
  • Europe
  • South America
  • Middle East & Africa

Insights are provided for each region and major countries within the regions

Electric Truck Market Primary Respondents

 

Key Players

  • Daimler AG
  • Dongfeng Motor Corporation
  • BYD Auto Co. Ltd
  • PACCAR Inc.
  • Tata Motors
  • Workhorse
  • Nikola Corporation
  • Ford Motor Company
  • Ashok Leyland
  • Isuzu Motors Ltd
  • Yinlong Energy Co, Ltd
  • Irizar Group
  • Triton
  • Bollinger Motors
  • Scania

Recent Developments

  • In March 2020, Kenworth has collaborated with Toyota Motor for developing 10 zero-emission Kenworth T680s. The vehicles will have range of over 300 miles under normal operating conditions.
  • In July 2019, Dongfeng Motor Corporation in Joint-Venture with Nissan launched an electric pickup truck called as “Dongfeng Rich 6 EV”. It is powered by a single electric motor with 160 hp and 420 Nm. Battery is 68 kWh.

Reasons to Acquire

  • Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
  • Gain authentic and granular data access for Electric Truck Market so as to understand the trends and the factors involved behind changing market situations
  • Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
  • In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns

Report Scope

 

Report Feature

Descriptions

Growth Rate

CAGR of 14.30% during the forecasting period, 2021-2026

Historical Data

2018-2019

Forecast Years

2021-2028

Base Year

2020

Units Considered

Revenue in USD billion and CAGR from 2021 to 2028

Report Segmentation

electric propulsion type, application, truck type and region.

Report Attribute

Market Revenue Sizing (Global, Regional and Country Level) Company Share Analysis, Market Dynamics, Company Profiling

Regional Level Scope

North America, Europe, Asia-Pacific, South America, and Middle East and Africa

Country Level Scope

U.S., Japan, Germany, U.K., China, India, Brazil, UAE, South Africa (50+ Countries Across the Globe)

Companies Profiled

Daimler AG, Dongfeng Motor Corporation, BYD Auto Co. Ltd, Paccar Inc., Tata Motors, Workhorse, Nikola Corporation, Ford Motor Company, Ashok Leyland, Isuzu Motors Ltd, Yinlong Energy Co, Ltd, Irizar Group, Triton, Bollinger Motors and Scania.

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