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Global Electric Truck Market 2019-2023

Global Electric Truck Market 2019-2023

About this market

Electric trucks allow significant saving in the fuel and maintenance costs, which are major cost parameters for the fleet operators. The growing developments in drive unit by the prominent electric truck manufacturers to make the truck more durable will be a driving factor for the global electric truck market. For example, Tesla changed the goal of drive unit endurance from 200,000 miles to 1 million miles. The development to increase the endurance of the driveline will allow the customers to extract maximum value from the electric truck, compared with traditional diesel trucks. Thus, all these factors will drive the growth of the global electric truck market.

Market Overview

Reducing battery prices boosting electric truck demand

Since electric trucks are driven by battery powered systems, the battery cost is one of the most important factors contributing to the upfront cost of the electric truck. There have been several improvements in the technology of battery electric vehicles. making them more desirable to consumers. For example, advances in Li-ion batteries made them comparatively lightweight with a long lifespan compared with conventional lead-acid and valve-regulated lead-acid (VRLA) batteries.

High upfront cost of electric trucks

The stakeholders in the global electric truck market are promoting electric trucks on the basis of the low total cost of ownership (TCO) compared with a diesel truck. The operating and maintenance cost of an electric truck is lower than a diesel truck. Generally, larger the number of mile travels for the truck, better is the TCO of the electric trucks compared with diesel trucks. However, most of the purchases done in the global electric truck market are based on upfront cost.

For the detailed list of factors that will drive and challenge the growth of the electric truck market during the 2019-2023, view our report.

Competitive Landscape

The market appears to be fragmented and with the presence of several companies including AB Volvo and BYD the competitive environment is quite intense. Factors such as the reducing battery prices boosting electric truck demand and creation of long-term value for customers, will provide considerable growth opportunities to electric truck manufactures. AB Volvo, BYD, Daimler, Dongfeng Motor Group, Hino Motors, and Navistar are some of the major companies covered in this report.


PRESS RELEASE

Technavio Announces the Publication of its Research Report – Global Electric Truck Market 2019-2023

Technavio recognizes the following companies as the key players in the global electric truck market: AB Volvo, BYD, Daimler, Dongfeng Motor Group, Hino Motors, and Navistar.

Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is creation of long-term value for customers. Although upfront cost of electric trucks is higher than diesel trucks, they are value creators for customers. The growing awareness among customers about this benefit is leading to growing adoption of electric trucks in the global electric vehicles market. Electric trucks allow significant saving in the fuel and maintenance costs, which are major cost parameters for the fleet operators. The growing developments in drive unit by the prominent electric truck manufacturers to make the truck more durable will be a driving factor for the global electric truck market.”

According to the report, one driver in the market is reducing battery prices boosting electric truck demand. Since electric trucks are driven by battery powered systems, the battery cost is one of the most important factors contributing to the upfront cost of the electric truck. There have been several improvements in the technology of battery electric vehicles. making them more desirable to consumers. For example, advances in Li-ion batteries made them comparatively lightweight with a long lifespan compared with conventional lead-acid and valve-regulated lead-acid (VRLA) batteries

Further, the report states that one challenge in the market is high upfront cost of electric trucks. The stakeholders in the global electric truck market are promoting electric trucks on the basis of the low total cost of ownership (TCO) compared with a diesel truck. The operating and maintenance cost of an electric truck is lower than a diesel truck. Generally, larger the number of mile travels for the truck, better is the TCO of the electric trucks compared with diesel trucks. However, most of the purchases done in the global electric truck market are based on upfront cost.

Companies Mentioned

AB Volvo

BYD

Daimler

Dongfeng Motor Group

Hino Motors

Navistar

  • Executive summary
  • Scope of the report
  • Market landscape
    • Market ecosystem
      • Table Global electric vehicles market
      • Table Segments of global electric vehicles market
    • Market characteristics
      • Table Market characteristics
    • Market segmentation analysis
      • Table Market segments
  • Market sizing
    • Market definition
      • Table Market definition - Inclusions and exclusions checklist
    • Market sizing 2018
      • Table Market size 2018
    • Market size and forecast 2018-2023
      • Table Global market: Size and forecast 2018-2023 (thousand units)
      • Table Global market: Year-over-year growth 2019-2023 (%)
  • Five forces analysis
    • Table Five forces analysis 2018
    • Table Five forces analysis 2023
    • Bargaining power of buyers
      • Table Bargaining power of buyers
    • Bargaining power of suppliers
      • Table Bargaining power of suppliers
    • Threat of new entrants
      • Table Threat of new entrants
    • Threat of substitutes
      • Table Threat of substitutes
    • Threat of rivalry
      • Table Threat of rivalry
    • Market condition
      • Table Market condition - Five forces 2018
  • Market segmentation by product
    • Table Product - Market share 2018-2023 (%)
    • Comparison by product
      • Table Comparison by product
    • Hybrid trucks - Market size and forecast 2018-2023
      • Table Hybrid trucks - Market size and forecast 2018-2023 (thousand units)
      • Table Hybrid trucks - Year-over-year growth 2019-2023 (%)
    • All-electric trucks - Market size and forecast 2018-2023
      • Table All-electric trucks - Market size and forecast 2018-2023 (thousand units)
      • Table All-electric trucks - Year-over-year growth 2019-2023 (%)
    • Market opportunity by product
      • Table Market opportunity by product
  • Customer landscape
    • Table Customer landscape
  • Geographic landscape
    • Geographic segmentation
      • Table Market share by geography 2018-2023 (%)
    • Geographic comparison
      • Table Geographic comparison
    • Americas - Market size and forecast 2018-2023
      • Table Americas - Market size and forecast 2018-2023 (thousand units)
      • Table Americas - Year-over-year growth 2019-2023 (%)
    • APAC - Market size and forecast 2018-2023
      • Table APAC - Market size and forecast 2018-2023 (thousand units)
      • Table APAC - Year-over-year growth 2019-2023 (%)
    • EMEA - Market size and forecast 2018-2023
      • Table EMEA - Market size and forecast 2018-2023 (thousand units)
      • Table EMEA - Year-over-year growth 2019-2023 (%)
    • Key leading countries
      • Table Key leading countries
    • Market opportunity
      • Table Market opportunity
  • Decision framework
  • Drivers and challenges
    • Market drivers
    • Market challenges
      • Table Impact of drivers and challenges
  • Market trends
  • Vendor landscape
    • Overview
      • Table Vendor landscape
    • Landscape disruption
      • Table Landscape disruption
  • Vendor analysis
    • Vendors covered
      • Table Vendors covered
    • Vendor classification
      • Table Vendor classification
    • Market positioning of vendors
      • Table Market positioning of vendors
    • AB Volvo
      • Table AB Volvo - Vendor overview
      • Table AB Volvo - Business segments
      • Table AB Volvo - Organizational developments
      • Table AB Volvo - Geographic focus
      • Table AB Volvo - Segment focus
      • Table AB Volvo - Key offerings
    • BYD
      • Table BYD - Vendor overview
      • Table BYD - Business segments
      • Table BYD - Organizational developments
      • Table BYD - Geographic focus
      • Table BYD - Segment focus
      • Table BYD - Key offerings
    • Daimler
      • Table Daimler - Vendor overview
      • Table Daimler - Business segments
      • Table Daimler - Organizational developments
      • Table Daimler - Geographic focus
      • Table Daimler - Segment focus
      • Table Daimler - Key offerings
    • Dongfeng Motor Group
      • Table Dongfeng Motor Group - Vendor overview
      • Table Dongfeng Motor Group - Business segments
      • Table Dongfeng Motor Group - Organizational developments
      • Table Dongfeng Motor Group - Segment focus
      • Table Dongfeng Motor Group - Key offerings
    • Hino Motors
      • Table Hino Motors - Vendor overview
      • Table Hino Motors - Product segments
      • Table Hino Motors - Organizational developments
      • Table Hino Motors - Geographic focus
      • Table Hino Motors - Key offerings
    • Navistar
      • Table Navistar - Vendor overview
      • Table Navistar - Business segments
      • Table Navistar - Organizational developments
      • Table Navistar - Geographic focus
      • Table Navistar - Segment focus
      • Table Navistar - Key offerings
  • Appendix
    • Research methodology
    • List of abbreviations
  • Explore Technavio

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