Europe Electric Truck Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2024 to 2032
Description
Europe Electric Truck Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2024 to 2032
Europe Electric Truck Market was worth USD 1.4 billion in 2023 and will expand at 50% CAGR throughout 2024-2032, propelled by urbanization and the rising demand for last-mile delivery. As cities expand and e-commerce flourishes, the need for efficient, environmentally friendly delivery solutions becomes crucial. Electric trucks are ideal for urban logistics, offering lower emissions and noise levels. Additionally, increased investment in electric vehicle technology enhances battery performance and charging infrastructure, making electric trucks more viable for businesses. This combination of urban growth and technological advancements positions the electric truck industry for substantial expansion in Europe.
The Europe electric truck market is classified based on vehicle, axle, application, propulsion, superstructure, battery capacity, range capacity, and region.
The heavy duty truck segment captured USD 1 billion in 2023, driven by the increasing demand for efficient and sustainable logistics solutions. Heavy-duty electric trucks are essential for long-haul transportation, as they offer significant reductions in greenhouse gas emissions compared to traditional diesel trucks. As regulatory pressures intensify and companies prioritize sustainability, the adoption of heavy-duty electric trucks becomes more favorable. Also, advancements in battery technology improve range and performance, making these trucks an attractive option for fleet operators in the region.
The PHEV segment achieved a 64% share in 2023 due to its versatility and range capabilities. PHEVs combine traditional internal combustion engines with electric propulsion, offering the flexibility of using both electric and gasoline or diesel power. This dual capability makes them particularly appealing for fleet operators seeking to balance environmental concerns with operational efficiency. As businesses aim to reduce emissions while maintaining performance, the adoption of PHEVs in commercial applications will grow, solidifying their dominant market position.
Germany accumulated a 20% share in 2023, attributed to its robust automotive industry and strong commitment to sustainability. As a leading manufacturer of commercial vehicles, Germany is at the forefront of electric truck innovation and production. The country’s stringent emissions regulations and supportive government policies, including subsidies and incentives for electric vehicle adoption, further promote market growth. Besides, the expansion of charging infrastructure enhances the viability of electric trucks, making Germany a central contributor to the overall Europe electric truck industry.
Table of Contents
180 Pages
- Report Content
- Chapter 1 Methodology & Scope
- 1.1 Research design
- 1.1.1 Research approach
- 1.1.2 Data collection methods
- 1.2 Base estimates & calculations
- 1.2.1 Base year calculation
- 1.2.2 Key trends for market estimates
- 1.3 Forecast model
- 1.4 Primary research & validation
- 1.4.1 Primary sources
- 1.4.2 Data mining sources
- 1.5 Market definitions
- Chapter 2 Executive Summary
- 2.1 Industry synopsis, 2021-2032
- Chapter 3 Industry Insights
- 3.1 Industry ecosystem analysis
- 3.2 Supplier landscape
- 3.2.1 Raw material supplier
- 3.2.2 Component supplier
- 3.2.3 Manufacturers
- 3.2.4 Technology providers
- 3.2.5 Service providers
- 3.2.6 Distributor
- 3.3 Profit margin analysis
- 3.4 Key news & initiatives
- 3.5 Regulatory landscape
- 3.6 Pricing analysis
- 3.7 Total cost of ownership, by product, 2023
- 3.8 Impact forces
- 3.8.1 Growth drivers
- 3.8.1.1 Rising demand for electric trucks in logistics and other industries
- 3.8.1.2 Expansion of low-emission zones in urban areas
- 3.8.1.3 Technological Advancements in Battery Technology
- 3.8.1.4 Increased investment in charging infrastructure
- 3.8.2 Industry pitfalls & challenges
- 3.8.2.1 Battery degradation & replacement cost
- 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, 2021-2032 (USD Billion) (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 Axle, 2021-2032 (USD Billion) (Units)
- 6.1 Key trends
- 6.2 2-axle
- 6.3 3-axle
- 6.4 4-axle
- Chapter 7 Market Estimates & Forecast, By Application, 2021-2032 (USD Billion) (Units)
- 7.1 Key trends
- 7.2 On-road
- 7.3 Off-road
- Chapter 8 Market Estimates & Forecast, By Propulsion, 2021-2032 (USD Billion) (Units)
- 8.1 Key trends
- 8.2 Battery electric trucks (BEV)
- 8.3 Hybrid electric trucks (PHEV)
- 8.4 Plug-in hybrid electric trucks (FCEV)
- 8.5 Fuel cell electric trucks (ICE)
- Chapter 9 Market Estimates & Forecast, By Superstructure, 2021-2032 (USD Billion) (Units)
- 9.1 Key trends
- 9.2 Box body
- 9.3 Refrigerated body
- 9.4 Flatbed body
- 9.5 Curtainside body
- 9.6 Tanker body
- 9.7 Tipper body
- 9.8 Crane body
- 9.9 Skip loader body
- 9.10 Fire engine body
- 9.11 Hooklift body
- 9.12 Spreading
- 9.13 Ploughing
- 9.14 Concrete mixer
- 9.15 Refuse collector
- 9.16 Sweeper
- 9.17 Recovery vehicle
- Chapter 10 Market Estimates & Forecast, By Battery Capacity, 2021-2032 (USD Billion) (Units)
- 10.1 Key trends
- 10.2 Below 100 kWh
- 10.3 100-300 kWh
- 10.4 Above 300 kWh
- Chapter 11 Market Estimates & Forecast, By Range Capacity, 2021-2032 (USD Billion) (Units)
- 11.1 Key trends
- 11.2 Short range (Up to 150 miles)
- 11.3 Medium range (150 to 250 miles)
- 11.4 Long range (Over Range 250 miles)
- Chapter 12 Market Estimates & Forecast, By Region, 2021-2032 (USD Billion) (Million Units)
- 12.1 Key trends
- 12.2 Northern Europe
- 12.2.1 Denmark
- 12.2.2 Estonia
- 12.2.3 Finland
- 12.2.4 Iceland
- 12.2.5 Ireland
- 12.2.6 Latvia
- 12.2.7 Lithuania
- 12.2.8 Norway
- 12.2.9 Sweden
- 12.2.10 UK
- 12.3 Western Europe
- 12.3.1 Austria
- 12.3.2 Belgium
- 12.3.3 France
- 12.3.4 Germany
- 12.3.5 Liechtenstein
- 12.3.6 Luxembourg
- 12.3.7 Netherlands
- 12.3.8 Switzerland
- 12.4 Eastern Europe
- 12.4.1 Belarus
- 12.4.2 Bulgaria
- 12.4.3 Czech Republic
- 12.4.4 Hungary
- 12.4.5 Moldova
- 12.4.6 Poland
- 12.4.7 Romania
- 12.4.8 Russia
- 12.4.9 Slovakia
- 12.4.10 Ukraine
- 12.5 Southern Europe
- 12.5.1 Albania
- 12.5.2 Bosnia and Herzegovina
- 12.5.3 Croatia
- 12.5.4 Cyprus
- 12.5.5 Greece
- 12.5.6 Italy
- 12.5.7 Kosovo
- 12.5.8 Malta
- 12.5.9 Montenegro
- 12.5.10 North Macedonia
- 12.5.11 Portugal
- 12.5.12 Serbia
- 12.5.13 Slovenia
- 12.5.14 Spain
- Chapter 13 Company Profiles
- 13.1 BYD
- 13.2 DAF Trucks
- 13.3 Daimler
- 13.4 FOTON
- 13.5 Fuso
- 13.6 Goupil
- 13.7 Hino
- 13.8 Isuzu
- 13.9 Iveco
- 13.10 Jungheinrich
- 13.11 Mack Trucks
- 13.12 MAN Truck
- 13.13 Mercedes-Benz Trucks
- 13.14 Nikola
- 13.15 PACCAR
- 13.16 Quantron
- 13.17 Renault Trucks
- 13.18 Tevva Motors
- 13.19 Volta Trucks
- 13.20 Volvo
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