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Electric Truck Market Size - By Vehicle (Light-Duty Trucks, Medium-Duty Trucks, Heavy-Duty Trucks), By Application (Logistics & Delivery, Construction, Waste Management), By Battery Technology, By Battery Capacity, By GVWR & Forecast, 2024 - 2032

Publisher Global Market Insights
Published Apr 26, 2024
Length 240 Pages
SKU # GMI19004602

Description

Electric Truck Market Size - By Vehicle (Light-Duty Trucks, Medium-Duty Trucks, Heavy-Duty Trucks), By Application (Logistics & Delivery, Construction, Waste Management), By Battery Technology, By Battery Capacity, By GVWR & Forecast, 2024 - 2032


Global Electric Truck Market will witness over 15% CAGR between 2024 and 2032 due to the rising construction of charging infrastructure. As governments and businesses invest in expanding charging networks, the feasibility and appeal of electric trucks grow. These vehicles offer significant advantages such as reduced emissions, lower operating costs, and quieter operation, making them attractive for various applications, including logistics, urban delivery, and commercial fleets.

For instance, in July 2024, MAN Truck & Bus and E.ON announced that they are advancing the expansion of commercial vehicle charging infrastructure in Germany and Europe through a new collaboration. Together, the energy company and the commercial vehicle manufacturer will establish approximately 170 locations with about 400 public charging stations for electric trucks across Europe.

The expansion of charging points enhances the practicality and convenience of electric trucks, addressing concerns about range and charging accessibility. Manufacturers are responding with a range of electric truck models equipped with advanced battery technology and efficient powertrain systems. This infrastructure development supports the market's growth by encouraging fleet electrification and facilitating the transition towards sustainable transportation solutions globally.

The overall Electric Truck Industry is classified based on the vehicle, application, battery technology, battery capacity, GVWR, and region.

The electric truck market is seeing increasing demand for medium-duty trucks as businesses and municipalities seek sustainable transportation solutions. Medium-duty electric trucks offer versatility for urban delivery, logistics, and municipal services with lower emissions and operational costs. They are ideal for short to medium-range routes and benefit from advancements in battery technology and charging infrastructure. Governments' and industries' focus on reducing carbon footprints and improving air quality drives the adoption of electric medium-duty trucks. As regulations tighten and environmental awareness grows, the market for electric trucks in the medium-duty segment continues to expand, supporting a greener future for urban transport.

The electric truck market is experiencing growing demand for plug-in hybrid electric trucks (PHEVs), combining electric and internal combustion engine capabilities. PHEV trucks offer flexibility, with electric power for short distances and a gasoline or diesel engine for longer trips, reducing fuel consumption and emissions. They provide a transitionary solution for industries and businesses looking to reduce environmental impact without compromising range or operational capability. With advancements in battery technology and charging infrastructure, PHEV trucks are becoming increasingly viable, meeting regulatory requirements and sustainability goals while offering versatility in various applications such as urban delivery, construction, and utility services.

Asia Pacific electric truck market is witnessing significant demand, driven by the region's rapid urbanization, stringent emissions regulations, and growing emphasis on sustainable transportation solutions. Governments and businesses across countries like China, Japan, and India are investing heavily in electrifying their fleets to curb pollution and reduce dependence on fossil fuels. Electric trucks offer advantages such as lower operating costs, reduced emissions, and quieter operation, making them ideal for urban logistics and commercial applications. With supportive policies, infrastructure investments, and technological advancements, the Asia Pacific electric truck market is poised for substantial growth, contributing to a cleaner and more efficient transport ecosystem in the region.

Table of Contents

240 Pages
Chapter 1 Methodology & Scope
1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast calculation
1.4 Data sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
Chapter 2 Executive Summary
2.1 Industry 360 degree synopsis, 2021 - 2032
Chapter 3 Industry Insights
3.1 Industry ecosystem analysis
3.2 Supplier landscape
3.2.1 Manufacturers
3.2.2 Technology providers
3.2.3 Service providers
3.2.4 Raw material & component suppliers
3.3 Profit margin analysis
3.4 Technology & innovation landscape
3.5 Patent analysis
3.6 Key news & initiatives
3.7 Regulatory landscape
3.8 Impact forces
3.8.1 Growth drivers
3.8.1.1 Environmental concerns and the need for cleaner transportation options
3.8.1.2 Government regulations and incentives promoting the adoption of electric vehicle
3.8.1.3 Technological innovation improving the performance and capabilities of electric trucks
3.8.1.4 Growing interest from fleet operators seeking to reduce their carbon footprint
3.8.1.5 Rising fuel costs and volatility of fossil fuels
3.8.2 Industry pitfalls & challenges
3.8.2.1 High upfront costs
3.8.2.2 Limited range and charging infrastructure
3.9 Growth potential analysis
3.10 Porter's analysis
3.11 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix
Chapter 5 Market Estimates & Forecast, By Vehicle Type, 2021 - 2032 ($Bn, Units)
5.1 Key trends
5.2 Light-duty trucks
5.3 Medium-duty trucks
5.4 Heavy-duty trucks
Chapter 6 Market Estimates & Forecast, By Application, 2021 - 2032 ($Bn, Units)
6.1 Key trends
6.2 Logistics & delivery
6.3 Construction
6.4 Waste management
6.5 Others
Chapter 7 Market Estimates & Forecast, By Battery Technology, 2021 - 2032 ($Bn, Units)
7.1 Key trends
7.2 Battery electric trucks
7.3 Hybrid electric trucks
7.4 Plug-in hybrid electric trucks
7.5 Fuel cell electric trucks
Chapter 8 Market Estimates & Forecast, By Battery Capacity, 2021 - 2032 ($Bn, Units)
8.1 Key trends
8.2 Below 100 kWh
8.3 100-300 kWh
8.4 Above 300 kWh
Chapter 9 Market Estimates & Forecast, By GVWR, 2021 - 2032 ($Bn, Units)
9.1 Key trends
9.2 Below 6 tons
9.3 6 - 14 tons
9.4 Above 14 tons
Chapter 10 Market Estimates & Forecast, By Region, 2021 - 2032 ($Bn)
10.1 Key trends
10.2 North America
10.2.1 U.S.
10.2.2 Canada
10.3 Europe
10.3.1 UK
10.3.2 Germany
10.3.3 France
10.3.4 Italy
10.3.5 Spain
10.3.6 Russia
10.3.7 Rest of Europe
10.4 Asia Pacific
10.4.1 China
10.4.2 India
10.4.3 Japan
10.4.4 South Korea
10.4.5 ANZ
10.4.6 Southeast Asia
10.4.7 Rest of Asia Pacific
10.5 Latin America
10.5.1 Brazil
10.5.2 Mexico
10.5.3 Argentina
10.5.4 Rest of Latin America
10.6 MEA
10.6.1 UAE
10.6.2 South Africa
10.6.3 Saudi Arabia
10.6.4 Rest of MEA
Chapter 11 Company Profiles
11.1 Arrival
11.2 Bollinger Motors
11.3 BYD
11.4 Chanje
11.5 Daimler Trucks
11.6 Ford
11.7 General Motors
11.8 GreenPower Motor Company
11.9 Hino Motors
11.10 Komatsu Ltd.
11.11 Lion Electric
11.12 Mitsubishi Fuso Truck and Bus Corporation
11.13 Nikola Corporation
11.14 NIO
11.15 PACCAR (Peterbilt, Kenworth)
11.16 Proterra
11.17 Rivian
11.18 Volvo Group
11.19 Workhorse Group
11.20 Xpeng

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