Global Electric Truck Market
Global Electric Truck Market was valued at US$ XXX Mn in 2017 and is expected to reach US$ XXX Mn by 2026, at a CAGR of XX% during a forecast period.
Major driving factors of the Electric Truck Market the trucking industry is in the stages of a technological changes, with a particular focus on transitioning fleets from diesel to electric energy. Government-mandated reductions in carbon emissions, the rising total cost of fleet ownership (TCO), and heightened investment in e-truck infrastructure. E-trucks will be most useful for short to medium-length trips, like urban deliveries, carried out by Class 3 to 6 vehicles. The trucking industry will be early adopters and profile the players expected to take on a prominent role in the future of e-trucking. Poor charging infrastructure and shorter life span will act as a restraint to the market.
Based on the Electric type, Battery Electric Vehicle is expected to hold the largest share in the market during the forecast period. BEVs are particularly simple and very strong. Just maintain the brakes, tiers and suspension and etc. BEV are relatively little servicing and no expensive exhaust systems, starter motors, fuel injection systems, radiators and many other parts that aren’t needed in an EV. Helps to reduce harmful air pollution from exhaust emissions. There is also a trend towards more eco-friendly production and materials for EVs. The Ford Focus Electric is made up of recycled materials and the padding is made out of bio-based materials.
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In terms of region, North America is expected to hold the largest share in the market during the forecast period. EV battery manufacturing is dominated by a relatively small number of players in North America. The U.S., tougher fuel economy regulation will likely push automakers to expand their EV offerings. The United States is a major consumer of Automotive Battery in the region, a government initiative to reduce carbon emission by manufacturing eco-friendly products. The top five electric vehicle markets by volume, representing nearly half of all U.S. electric vehicle sales, each had at least 28 available electric vehicle models in forecasted period. Asia Pacific region is also expected to grow at a significant rate during the forecast period.
The report includes a detailed study of Porter’s Five Forces model to analyze the different factors affecting the growth of the market. Moreover, the study also covers a market attractiveness analysis, brand portfolio expansion, mergers, collaborations, joint ventures, acquisitions, PESTLE analysis, Value Chain Analysis, and SWOT analysis.
The scope of the Report for Electric Truck Market
Global Electric Truck Market, By Electric Type
• Plug-In Hybrid
• Battery Electric Vehicle
Global Electric Truck Market, By Truck Type
• Medium-duty Truck
• Heavy-duty Truck
Global Electric Truck Market, By Application Type
Global Electric Truck Market, by Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key Players Operating in Electric Truck Market
• Dongfeng Motor Corporation
• Hino Motors
• Daimler (Mitsubishi Fuso)
• PACCAR Inc.
• Foton Motor Inc.
• FAW Group Co.,
• AB Volvo
• Navistar International Corporation
• Renault Trucks
• BYD Auto Co., Ltd.
• Smith Electric Vehicles
• Zenith Motors
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