Market Overview:
The global electric truck market is expected to grow at a CAGR of XX% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for electric trucks from various applications such as logistics, municipal and others. Additionally, the stringent emission norms being implemented by various governments are also aiding in the growth of this market. Some of the major players operating in this market include Tesla Inc., Daimler AG, BYD Co Ltd., Volkswagen AG and Cummins Inc.
Product Definition:
Electric truck is a type of vehicle that utilizes electric motors to power its drivetrain. Electric trucks are becoming increasingly popular due to their low emissions and fuel efficiency.
Medium-duty Truck:
The global medium-duty truck market size was valued at USD 60.8 billion in 2016 and is expected to grow at a CAGR of XX% over the forecast period. The increasing demand for goods transportation, coupled with the growing e-commerce industry, is anticipated to drive the market growth over the forecast period.
Heavy-duty Truck:
Heavy-duty truck is a vehicle that is used to transport goods of more than 10 tons. They are generally used for the transportation of raw materials and finished products from one place to another with the help of loading and unloading platforms.
Application Insights:
The logistics application segment led the global electric truck market in 2017 and is projected to expand at a CAGR of XX% over the forecast period. The growth can be attributed to increasing demand for cost-efficient modes of transportation that reduce carbon emissions and provide better fuel economy, among other benefits.
The municipal sector is expected to emerge as another key application segment over the forecast period owing to various advantages offered by electric trucks such as extended range, increased power density, enhanced performance in cold weather conditions and reduced maintenance costs among others. Several cities across Europe are focusing on reducing vehicle emissions through regulations that mandate lower diesel engine idling rates which will eventually drive demand for all-electric trucks within this sector.
In addition, several countries have made significant investments in charging infrastructure development which will further stimulate market growth during the forecast period while also addressing concerns regarding limited battery capacity when stationary overnight (for example due to freezing temperatures).
Regional Analysis:
The Asia Pacific regional market accounted for the largest share of more than 40.0% in 2017 and is anticipated to witness significant growth over the forecast period. The region has been witnessing strong demand from countries such as China, India, Japan, South Korea and others owing to rapid urbanization coupled with a growing population.
China is one of the major markets in this region that has witnessed strong demand for electric trucks due to various factors such as stringent government regulations on conventional fuel vehicles along with high manufacturing costs associated with these vehicles; low maintenance cost compared to diesel-powered trucks; and lastly but not least zero emission which makes it eco-friendly thus attracting buyers towards these electric heavy commercial vehicles.
Growth Factors:
- Increasing demand for electric trucks from the commercial segment owing to the benefits of fuel efficiency and low emissions.
- Government initiatives and subsidies for electric vehicles to promote their adoption in the market.
- Proliferation of charging infrastructure across developed and developing countries will boost uptake of electric trucks.
- Development of autonomous driving technology that would enable platooning of electric trucks, resulting in improved fuel efficiency and reduced emissions 5
Scope Of The Report
Report Attributes
Report Details
Report Title
Electric Truck Market Research Report
By Type
Medium-duty Truck, Heavy-duty Truck
By Application
Logistics, Municipal, Others
By Companies
Dongfeng, Hino Motors, Daimler (Mitsubishi Fuso), PACCAR, Isuzu, Navistar, Renault, BYD, Smith Electric Vehicles, Zenith Motors, Dongfeng, Voltia
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
187
Number of Tables & Figures
131
Customization Available
Yes, the report can be customized as per your need.
Global Electric Truck Market Report Segments:
The global Electric Truck market is segmented on the basis of:
Types
Medium-duty Truck, Heavy-duty Truck
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Logistics, Municipal, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Dongfeng
- Hino Motors
- Daimler (Mitsubishi Fuso)
- PACCAR
- Isuzu
- Navistar
- Renault
- BYD
- Smith Electric Vehicles
- Zenith Motors
- Dongfeng
- Voltia
Highlights of The Electric Truck Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Medium-duty Truck
- Heavy-duty Truck
- By Application:
- Logistics
- Municipal
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Electric Truck Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
An electric truck is a type of commercial vehicle that uses electricity as its primary source of power. Electric trucks are typically more efficient and environmentally friendly than traditional diesel trucks, and they can help reduce greenhouse gas emissions.
Some of the major players in the electric truck market are Dongfeng, Hino Motors, Daimler (Mitsubishi Fuso), PACCAR, Isuzu, Navistar, Renault, BYD, Smith Electric Vehicles, Zenith Motors, Dongfeng, Voltia.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Electric Truck Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Electric Truck Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Electric Truck Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Electric Truck Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Electric Truck Market Size & Forecast, 2020-2028
4.5.1 Electric Truck Market Size and Y-o-Y Growth
4.5.2 Electric Truck Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Medium-duty Truck
5.2.2 Heavy-duty Truck
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Logistics
6.2.2 Municipal
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Electric Truck Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Electric Truck Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Medium-duty Truck
9.6.2 Heavy-duty Truck
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Logistics
9.10.2 Municipal
9.10.3 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Medium-duty Truck
10.6.2 Heavy-duty Truck
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Logistics
10.10.2 Municipal
10.10.3 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Medium-duty Truck
11.6.2 Heavy-duty Truck
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Logistics
11.10.2 Municipal
11.10.3 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Medium-duty Truck
12.6.2 Heavy-duty Truck
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Logistics
12.10.2 Municipal
12.10.3 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Medium-duty Truck
13.6.2 Heavy-duty Truck
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Logistics
13.10.2 Municipal
13.10.3 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Electric Truck Market: Competitive Dashboard
14.2 Global Electric Truck Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Dongfeng
14.3.2 Hino Motors
14.3.3 Daimler (Mitsubishi Fuso)
14.3.4 PACCAR
14.3.5 Isuzu
14.3.6 Navistar
14.3.7 Renault
14.3.8 BYD
14.3.9 Smith Electric Vehicles
14.3.10 Zenith Motors
14.3.11 Dongfeng
14.3.12 Voltia
