Press release
Electric Truck Market to Reach USD 17.93 Bn by 2029, emerging at a CAGR of 28.2 percent and forecast 2023-2029
Electric Truck Market
Our analysis is based on extensive primary research, including interviews with industry experts, manufacturers, suppliers, and stakeholders. Secondary research involved studying relevant literature, industry reports, company websites, and regulatory frameworks to ensure accuracy and reliability.
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What are Electric Truck Market Dynamics:
Governments globally advocate for cleaner transportation to combat climate change, positioning electric trucks as vital in the green revolution. The Electric Truck Market benefits from policies promoting zero-emission vehicles. Electric trucks, in stark contrast to their diesel complements, provide a sustainable alternative by emitting significantly fewer greenhouse gases. According to the International Council on Clean Transportation, battery electric trucks demonstrate a significant 63% reduction in greenhouse gas emissions compared to traditional diesel trucks, aligning seamlessly with the world's commitment to mitigating climate change. This environmental imperative has driven rapid adoption of electric trucks, driven by countries implementing rigorous emissions regulations that compel manufacturers to innovate and invest in electric vehicle technology.
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Electric Truck Market Regional Insights:
Asia Pacific: Dominating the market share, Asia Pacific is witnessing rapid adoption of electric trucks driven by urbanization, air quality concerns, and supportive government initiatives. Countries like China, India, and Japan are leading the way with robust manufacturing capabilities and investments in charging infrastructure.
North America: Expected to witness the highest growth rate, North America is experiencing a dynamic transformation in the electric truck industry. Major players like Tesla and Rivian are spearheading innovation, supported by government incentives and advancements in charging infrastructure.
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What is Electric Truck Market Segmentation:
by Propulsion
Battery Electric Trucks (BEVs)
Hybrid Electric Trucks (HEVs)
Plug-in Hybrid Electric Trucks (PHEVs)
by Type
Light-duty Electric Trucks
Medium-duty Electric Trucks
Heavy-duty Electric Trucks
by Range Short
Range (Up to 150 Miles)
Medium Range (150-300 Miles)
Long Range (300-500 Miles)
Ultra-Long Range (500+ Miles)
by Battery Type
Lithium-Ion (Li-ion) Batteries
Solid-State Batteries
Lead-Acid Batteries
Nickel-Metal Hydride (NiMH) Batteries
by End Use
Logistics and Transportation Companies
E-commerce and Retail
Municipalities and Public Services
Construction and Infrastructure Development
Manufacturing and Industrial Sector
Others
Who are Electric Truck Market Key Players:
1. Tesla, Inc. (Palo Alto, California, USA)
2. BYD Company Ltd. (Shenzhen, Guangdong, China)
3. Daimler AG (Mercedes-Benz) (Stuttgart, Germany)
4. AB Volvo Group (Gothenburg, Sweden)
5. Nikola Corporation (Phoenix, Arizona, USA)
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Table of content for the Electric Truck Market includes:
Global Electric Truck Market: Research Methodology
Global Electric Truck Market: Executive Summary
Market Overview and Definitions
Introduction to the Global Market
Summary
Key Findings
Recommendations for Investors
Recommendations for Market Leaders
Recommendations for New Market Entry
3.Global Electric Truck Market: Competitive Analysis
MMR Competition Matrix
Market Structure by region
Competitive Benchmarking of Key Players
Consolidation in the Market
M&A by region
Key Developments by Companies
Market Drivers
Market Restraints
Market Opportunities
Market Challenges
Market Dynamics
PORTERS Five Forces Analysis
PESTLE
Regulatory Landscape by region
North America
Europe
Asia Pacific
Middle East and Africa
South America
COVID-19 Impact
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