Press release
Hybrid Truck Market: Robust Growth Driven by Technological Advancements, Regulatory Support, and Sustainability Concerns
Hybrid Truck Market Market Share
Projected to reach $24.91 billion in 2025 from $23.41 billion in 2024, the global hybrid truck market is extending its growth trajectory towards new horizons, driven by noteworthy market players, technological innovations, and favourable regulatory environment.
What Is The Projected Market Size Of The Global Hybrid Truck Market And Its Growth Rate?
The hybrid truck market is on an upward roll, with the potential to shape future transport systems.
• The market size has grown from $23.41 billion in 2024 to $24.91 billion in 2025 at a compound annual growth rate (CAGR) of 6.4%
• The market is expected to grow to $33.14 billion in 2029 at a compound annual growth rate (CAGR) of 7.4%
These robust growth rates can be attributed to factors such as fuel efficiency, rise in awareness of carbon footprint, advancements in battery technology, and regulatory support.
What Is Driving The Growth In The Hybrid Truck Market?
Government regulations and pollution control policies against the use of traditional diesel and gasoline-powered vehicles are propelling the global hybrid truck market. A surge in these regulations is encouraging truck manufacturers to turn towards alternate fuel-powered vehicles. The EU's landmark law requiring all new cars to have zero CO2 emissions from 2035 effectively bans diesel and petrol vehicles, further fuelling the hybrid truck market's expansion.
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Who Are the Key Players Driving Hybrid Truck Market Growth?
The growth of the hybrid truck market is supported by the advancements and initiatives of several key players:
• AB Volvo Group
• Daimler Truck Holding AG
• Nissan Motor Co.
• BYD Auto Industry Company Limited
• DAF NV.
• Dongfeng Motor Corporation Ltd.
• Toyota Motor Corporation, Ford Motor Company
• Fiat Chrysler Automobiles, Peterbilt
• Navistar International Corporation, Hyliion
What Are The Key Trends In The Hybrid Truck Market?
Major trends shaping the future of the hybrid truck market include:
• Expansion of autonomous and semi-autonomous features
• Emphasis on aerodynamic design for better fuel economy
• Introduction of regenerative braking systems
• Focus on last-mile delivery solutions
• Implementation of predictive maintenance technologies
What Are The Segments Of The Global Hybrid Truck Market?
The global hybrid truck market can be segmented into:
• Technology Type: Parallel Hybrid, Series Hybrid, Series-Parallel Hybrid, Plug-In-Hybrid
• Vehicle Type: Light Duty Truck, Heavy Duty Truck
• Application: Construction, Pick Up And Delivery Vehicle
Which Region Leads The Hybrid Truck Market?
North America led the hybrid truck market in 2024. However, Asia-Pacific is predicted to mark the fastest growth during the upcoming years. Furthermore, the hybrid truck market scope envelops regions including Western Europe, Eastern Europe, South America, the Middle East, and Africa.
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What Is Covered In The Hybrid Truck Market Global Market Report?
- Market Size Analysis: Analyze the Hybrid Truck Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Hybrid Truck Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Hybrid Truck Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Hybrid Truck Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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