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Global Electric Truck Market Growth Prospects, Future Industry Landscape 2032 | AB Volvo, BYD Compay Ltd., Daimler AG, Dongfeng Motor Company, Paccar Inc., Tata Motors
Electric Truck Market
Electric Truck Market Size, Growth Rate, And Forecast
The global electric truck market size grew from $1.85 billion in 2022 to $2.72 billion in 2023 at a compound annual growth rate (CAGR) of 47.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The electric truck market size is expected to grow to $13.63 billion in 2027 at a CAGR of 49.6%.
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Electric Truck Market Drivers
Government incentives and schemes are expected to drive the growth of the electric truck market. Government bodies across the globe are implementing innovative policies and incentive schemes to increase the adoption of electric vehicles across all categories (bikes, autos, cars and commercial vehicles).
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Electric Truck Market Segments
1) By Vehicle Type: Light-Duty Electric Truck, Medium-Duty Electric Truck, Heavy-Duty Electric Truck
2) By Propulsion: Battery Electric Vehicle, Hybrid Electric Vehicle, Plug-In Hybrid Electric Vehicle, Fuel Cell Electric Vehicle
3) By Range: Upto 150 Miles, 151-300 Miles, Above 300 Miles
4) By End User: Last Mile Delivery, Long Haul Transportation, Refuse Services, Field Services, Distribution services
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Western Europe was the largest region in the Electric Truck market.
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Electric Truck Market Key Players
Major players in the electric truck market are AB Volvo, BYD Compay Ltd., Daimler AG, Dongfeng Motor Company, Paccar Inc., Tata Motors, Tesla Inc., Hino Motors Ltd., Volvo Group, Tevva Motors Limited, Volta Trucks, StreetScooter, Workhorse Group Incorporated, and Renault SA.
The Business Research Company's "Global Electric Truck Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Electric Truck Market Include:
1. Executive Summary
2. Electric Truck Market Characteristics
3. Electric Truck Market Trends And Strategies
4. Electric Truck Market - Macro Economic Scenario
5. Electric Truck Market Size And Growth
……
27. Electric Truck Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Electric Truck Market
29. Electric Truck Market Future Outlook and Potential Analysis
30. Appendix
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