Electric Trucks Market Size Worth US$ 26,542.90 Million By 2028 | CAGR 29.4%: The Insight Partners

The electric trucks market is expected to grow from US$ 4,592.55 million in 2021 to US$ 26,542.90 million by 2028; it is estimated to grow at a CAGR of 29.4% from 2022 to 2028.

The global automotive sector is undergoing a paradigm shift with a gradual switch to alternative/less energy-intensive solutions. The rising cost of oil, elevating levels of pollution, and international pledges to tackle global climate change are accelerating the transition to e-mobility.

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Electric Trucks Market Competitive Insights 2022, This report studies the Electric Trucks Market Profit Margin Analysis, Value Chain Analysis, Market Entry Strategies, recent developments & their impact on the market, Roadmap of Electric Trucks Market, Opportunities, Challenges, SWOT analysis, and PESTEL analysis, Market estimates, size, and forecast for product segments from 2022 to 2028. An In-depth analysis of newer growth tactics influenced by the market-leading companies shows the global competitive scale of this market sector. The industry growth outlook is captured by ensuring ongoing process improvements of players and optimal investment strategies.

Leading Electric Trucks Market Players:
• AB Volvo
• BYD Company Ltd
• Daimler AG
• FAW Group Co.,Ltd.
• Navistar, Inc.
• PACCAR Inc.
• Proterra Inc.
• Rivian
• Scania
• Tesla, Inc

The global Electric Trucks industry is a booming market with potential for future growth. The report identifies two major segments including product type and application, forecasting the rate of change in each segment over time as well as anticipated regional demand. You will find that some regions are more profitable than others depending on current trends which can be predicted through reliable forecasts showing production volume by region and value per capita spent on these products in those same areas.

Segmentation:

Propulsion-Based Insights:
Based on propulsion, the electric trucks market is segmented into BEV, FCV, and PHEV. The BEV segment accounted for the largest market share in 2021. Battery-powered electric trucks are expected to contribute notably to the market growth. Manufacturers such as Volvo and Navistar are leveraging their technology capabilities, shortening the development cycle for BEVs, and focusing on a fast time-to-market. The increasing battery life and energy density, and a drop in battery prices are likely to boost the electric trucks market for the BEV segment.

Vehicle-Based Insights:
Based on vehicle type, the electric trucks market is bifurcated into LCVs and medium & HCVs. The LCV segment led the market with a larger market share in 2021. Automakers and allied powertrain component suppliers are embracing an electric, clean, and sustainable future. By creating new paradigms from the initial stages, several OEMs are changing traditional ways of establishing LCV platforms. Many significant OEMs are developing specific eLCV platforms. In the meanwhile, the increasing demand for a high degree of customization by fleet managers and the introduction of new services-based models are benefitting the LCV industry.

Range-Based Insights:
Based on range, the electric trucks market is segmented into less than 200 miles and more than 200 miles. The more than 200 miles segment led the market with a larger share in 2021. Longer-range commercial vehicles dominate the global market due to large preferences among end users.

Drivers & Constraints:
The Electric Trucks Market rests united with the incidence of leading players who keep funding to the market's growth significantly every year. The report studies the value, volume trends, and the pricing structure of the market so that it could predict maximum growth in the future. Besides, various suppressed growth factors, restraints, and opportunities are also estimated for the advanced study and suggestions of the market over the assessment period.

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Reason to Buy:

• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Electric Trucks market.

• Highlights key business priorities in order to guide the companies to reform their business strategies and establish themselves in the wide geography.

• The key findings and recommendations highlight crucial progressive industry trends in the Electric Trucks market, thereby allowing players to develop effective long term strategies in order to garner their market revenue.

• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.

• Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those restraining the growth at a certain extent.

• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.

Contact Us:
The Insight Partners
Email: sales@theinsightpartners.com
Phone: +1-646-491-9876

About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

This release was published on openPR.