Eco-Revolution on Wheels : Unleashing the Power of the Electric Truck Market Forecast, 2021-2030

Allied Market Research published a report, titled, "Electric Truck Market by Propulsion (Battery Electric Truck, Hybrid Electric Truck, Plug-In Hybrid Electric Truck and Fuel Cell Electric Truck), Vehicle Type (Light Duty Electric Truck, Medium Duty Electric Truck and Heavy-Duty Electric Truck) and Range (Up To 150 Miles, 151 To 300 Miles and Above 300 Miles): Global Opportunity Analysis and Industry Forecast, 2021-2030".

𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐢𝐳𝐞 : The global electric truck market size generated $392.3 million in 2020, and is anticipated to generate $3.8 billion by 2030, witnessing a CAGR of 26.4% from 2021 to 2030.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 : https://www.alliedmarketresearch.com/request-sample/6548

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 :

AB Volvo
BYD Compay Ltd.
Daimler AG
Dongfeng Motor Company
Geely Automobiles Holdings Limited
Man SE
Paccar Inc.
Scania
Tata Motors
Workhorse

𝐏𝐫𝐢𝐦𝐞 𝐝𝐞𝐭𝐞𝐫𝐦𝐢𝐧𝐚𝐧𝐭𝐬 𝐨𝐟 𝐠𝐫𝐨𝐰𝐭𝐡

Increase in government initiatives for promotion of e-mobility, stringent emission norms imposed on fossil-fuel powered commercial vehicles, and reducing cost of electric vehicle batteries drive the growth of the global electric truck market. However, lack of charging infrastructure and high cost of electric trucks hinder the market growth. On the other hand, rise in demand for electric trucks from the logistics sector and development of self-driving electric truck technology present new opportunities in the coming years.

𝐓𝐡𝐞 𝐡𝐲𝐛𝐫𝐢𝐝 𝐞𝐥𝐞𝐜𝐭𝐫𝐢𝐜 𝐭𝐫𝐮𝐜𝐤 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐥𝐞𝐚𝐝𝐞𝐫𝐬𝐡𝐢𝐩 𝐬𝐭𝐚𝐭𝐮𝐬 𝐭𝐡𝐫𝐨𝐮𝐠𝐡𝐨𝐮𝐭 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝

Based on propulsion, the hybrid electric truck segment held the highest market share in 2020, accounting for nearly half of the global electric truck market, and is estimated to maintain its leadership status throughout the forecast period. This is attributed to stringent emission regulation standards particularly on commercial vehicles along with the growing demand for low or zero-emission vehicles. Moreover, the fuel cell electric truck segment is projected to manifest the highest CAGR of 29.9% from 2021 to 2030. Refueling advancements are in process which will help to refuel hydrogen fuel cell trucks in less than 5 minutes. This is opportunistic for the market expansion.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 : https://www.alliedmarketresearch.com/electric-truck-market/purchase-options

𝐀𝐬𝐢𝐚-𝐏𝐚𝐜𝐢𝐟𝐢𝐜, 𝐟𝐨𝐥𝐥𝐨𝐰𝐞𝐝 𝐛𝐲 𝐄𝐮𝐫𝐨𝐩𝐞 & 𝐍𝐨𝐫𝐭𝐡 𝐀𝐦𝐞𝐫𝐢𝐜𝐚, 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐝𝐨𝐦𝐢𝐧𝐚𝐧𝐜𝐞 𝐛𝐲 𝟐𝟎𝟑𝟎

Based on region, Asia-Pacific, followed by Europe & North America, held the highest market share in terms of revenue 2020, accounting for nearly half of the global electric truck market share. Increase in number of vehicle production from China as well as increased investments in the India automobile industry is driving growth of the electric truck market in this region. Moreover, the Africa region is expected to witness the fastest CAGR of 37.8% during the forecast period. Increasing awareness regarding use of sustainable transport to reduce environmental population in countries such as South Africa, Nigeria, and Morocco, which is expected to fuel growth of the electric truck market in Africa.

𝐓𝐡𝐞 𝐮𝐩 𝐭𝐨 𝟏𝟓𝟎 𝐦𝐢𝐥𝐞𝐬 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐥𝐞𝐚𝐝 𝐩𝐨𝐬𝐢𝐭𝐢𝐨𝐧 𝐝𝐮𝐫𝐢𝐧𝐠 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝

Based on range, the up to 150 miles segment accounted for the largest share in 2020, contributing to nearly half of the global electric truck market, and is projected to maintain its lead position during the forecast period. This is due to the factors like increase in adoption of low range electric trucks by end users primarily in last mile deliveries and intra-city logistics among others. However, the above 300 miles segment is expected to portray the largest CAGR of 29.6% from 2021 to 2030, owing to factors such as long range with single charge, lower operation cost among all electric truck categories along with rise in demand for long range electric trucks in commercial sectors such as automotive, online retail, and logistics.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 : https://www.alliedmarketresearch.com/purchase-enquiry/6548

𝐑𝐞𝐚𝐝 𝐌𝐨𝐫𝐞 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 :

Connected Truck Market : https://www.alliedmarketresearch.com/connected-truck-market-A09614

Forklift Truck Market : https://www.alliedmarketresearch.com/forklift-truck-market

Vacuum Truck Market : https://www.alliedmarketresearch.com/vacuum-truck-market-A16757

Hydrogen Fuel Cell Truck Market : https://www.alliedmarketresearch.com/hydrogen-fuel-cell-truck-market-A74607

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 :

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𝐀𝐛𝐨𝐮𝐭 𝐔𝐬 :

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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