China Electric Truck Market Analysis 2022-2027, Industry Size, Share, Trends and Forecast

According to the latest report by IMARC Group, titled "China Electric Truck Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the China electric truck market is expected to exhibit a CAGR of 30.60% during 2022-2027.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

A heavy-duty commercial vehicle equipped with a power converter, energy storage system, propulsion motor, related controls, etc. that is powered by rechargeable batteries is referred to as an electric truck. In addition to dump, fire, food, garbage, forklift, light-duty cargo, mail, mining, pickup, and tow trucks, it also includes ambulances, city or municipal buses, containers, local delivery vans, utility terrain vehicles (UTVs), and other vehicles. An electric truck does not release greenhouse gases into the atmosphere or leave harmful waste behind. As a result, it requires less running and maintenance expenses than internal combustion engines (ICEs).

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Market Trends

The main factor influencing the China electric truck market is the development of sustainable transportation systems to lower carbon dioxide (CO2) emissions and enhance air quality in cities. A second factor driving the market's expansion is the widespread usage of the product to convey goods or people in crowded places such crowded tourist attractions, transit hubs, warehouses, hospitals, etc. Additionally, the government of this nation is concentrating on reducing its reliance on oil imports and providing tax exemptions for the purchase of electric vehicles (EVs), which is functioning as another important growth-inducing element. Moreover, the growing number of EV manufacturing companies is also propelling the demand for electric trucks. Apart from this, the rising investments in R&D activities to introduce enhanced product variants that are cost-effective are anticipated to fuel the China electric truck market over the forecasted period.

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The report has segmented the market on the basis of vehicle type, propulsion, range, application and region.

Breakup by Vehicle Type:

Light-duty Truck
Medium-duty Truck
Heavy-duty Truck

Breakup by Propulsion:

Battery Electric Truck
Hybrid Electric Truck
Plug-in Hybrid Electric Truck
Fuel Cell Electric Truck

Breakup by Range:

0-150 Miles
151-300 Miles
Above 300 Miles

Breakup by Application:

Logistics
Municipal
Construction
Mining
Others

Breakup by Region:

Guangdong
Jiangsu
Shandong
Zhejiang
Henan
Others

Key highlights of the report:

Market Performance (2016-2021)
Market Outlook (2022- 2027)
Porter's Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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This release was published on openPR.