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Global Electric Trucks Market By Propulsion (Battery electric vehicle, Hybrid electric vehicle, Plug-in hybrid electric vehicle, and Fuel cell electric vehicle) By Vehicle Type (Light-Duty Electric Truck, Medium-Duty Electric Truck, and Heavy-Duty Electric Truck) By Range (Upto 150 Miles, 151-300 Miles, and Above 300 Miles) Growth, Future Prospects & Competitive Analysis, 2016 – 2030

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Published: | Report ID: 16330 | Report Format : PDF

Key Highlights of the Report

How are the major segments performing in the Electric Trucks market?

  • In 2022, the Battery electric vehicle segment accounted for the largest share of the market owing to an increase in battery lifespan and power density and a decrease in battery prices.
  • In 2022, the Light-Duty Electric Truck segment was anticipated to hold a major share of the global Electric Trucks market as to the growing significance of clean energy. The government is promoting the use of battery-powered electric vehicles.
  • In 2022, the 151-300 Miles segment accounted for the market’s largest share due to increased registration and sales of electric trucks.

Which region dominated the Electric Trucks market?

In 2022, Asia-Pacific led the market share for electric trucks, with China accounting for the largest share. The factors include an increase in commercial electric vehicle sales and registrations. China, for example, exhibited significant growth in the past few years. China registered approximately 86,000 light commercial vehicles, which will fuel the market’s expansion in this region. In addition, most consumers favor commercial electric vehicles in leading economies such as China, India, and Japan. This will increase regional demand for these vehicles.

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How US Market is Performing in the Electric Trucks Market?

In 2022, North America was also anticipated to experience promising market growth. In the United States, demand for electric truck brands has consistently increased. The United States has 18 electric LDVs per public charging station. Government investment in recharge station infrastructure was also increased. These factors will influence the evolution of the market.

How is the economy impacting the global Electric Trucks growth?

Automotive assistance with low- and emissions-free commercial vehicles to assist in the automotive industry’s short-term recovery. Due to the impact of COVID-19, consumer demand for trucks dropped in 2020 and grew in 2021; vehicle OEMs have additionally created new highly technological electric truck models; over 170 of these were available outside of China in 2021. After production resumed, organizations were forced to shut down or operate at a reduced capacity due to the pandemic-induced closure, resulting in a severe downturn in vehicle manufacturing. The EV industry confronts a (potential) recession, high-interest rates, and 35% more expensive automobiles than ICE alternatives.

What is the competitive environment of the Electric Trucks market?

Market participants offer an extensive selection of electric vehicles and serve the logistics, transportation, and municipal sectors. The market participants are also focused on producing fuel-cell electric vehicles with a longer range for long-distance travel. New product introductions and improvements to existing vehicles have remained the primary strategies of these competitors. In January 2022, the Daimler Truck, Volvo Group, and TRATON GROUP finalized the formation of the previously revealed joint venture for Europe’s charging infrastructure. The joint venture (JV) intends to construct and operate more than 1,700 high-performance renewable energy charging stations on and near European highways and logistics hubs.

Executive Summary

What are the key trends in the Electric Trucks market?

  • Recent advancements in autonomous vehicle technology will impact the global market. Top truck manufacturers, including Tesla, Volvo, Vera, and Daimler, have been creating this self-driving technology for the marketplace. In addition to Embark, Einride, and TuSimple, other startups have begun developing this technology. Furthermore, autonomous transportation increases the efficiency of the trucking industry.
  • Because it is a driverless system, self-driving truck technological advances will boost the long-term demand for electric trucks due to their simplicity of use, value-added attributes, and reduced human error.

How are Growing Fuel Prices Affecting the Electric Trucks Market?

Fuel prices worldwide are volatile and on the rise. The costs of refueling solutions will vary by region and rise over time. Increasing gasoline prices make electric vehicles more enticing to consumers. The average American’s estimated annual cost of fueling a light commercial vehicle is approximately $3,500. The estimated cost of fueling a comparable vehicle with an appropriate electric propulsion system is approximately USD 850, approximately three times less. Electric motors are far more effective than petroleum engines, significantly lowering EV operating costs.

Moreover, approximately 85% of the energy supplied to an electric engine is converted to motion, compared to 40% in gasoline-powered cars. When energy and petroleum costs are equivalent, owning a commercial electric vehicle would be less expensive than a gasoline-powered one. The major nations are also concentrating on developing infrastructure for charging, which will increase consumer demand for these trucks over the forecast period.

Which are the key investments by the Electric Trucks market players?

Significant company investments are anticipated to play a significant role in propelling market growth to meet the rising demand. Multiple industries, such as transportation, municipal, and others, use electric vehicles. Amazon Inc. plans to invest over USD 974.8 million in electric vans, trucks, and low-emission package centers across Europe over the next five years, beginning in October 2022, accelerating its efforts to achieve a net-zero carbon footprint.

Some major players in the Electric Trucks market are AB Volvo, BYD Compay Ltd., Daimler AG, Dongfeng Motor Company, Geely Automobiles Holdings Limited, Man SE, Paccar Inc, Scania, Tata Motors, and Workhorse.

What are the Major Driving Factors for the Electric Trucks Market?

Increasing awareness of electric vehicles contributes to expanding the global electric truck market. In addition, governments in developed and developing regions continually encourage widespread acceptance and adoption of electric vehicles. In addition, the government offers tax incentives to individuals who are interested in purchasing electric vehicles. The government is also developing a sustainable infrastructure for charging electric vehicles. This will help individuals utilize electric trucks more effectively. All of these government actions and initiatives are accelerating the development of the global electric truck market over the forecast period. The rising fuel, gasoline, diesel, and petroleum prices create lucrative growth opportunities for the global electric truck market. In addition, the main market participants are utilizing renewable energy sources in producing electric trucks for the global market.

What are the Major Risks for the Electric Trucks Market?

Compared to CNG, petroleum, and diesel vehicles, the initial investment required to produce electric trucks is significantly higher. The cost of production components and machinery is also relatively substantial. This is primarily attributable to the high cost of electric vehicle batteries. Additionally, in most regions, the basic materials for batteries must be imported, contributing to their high cost. Due to the high cost, the manufacturing of such commercial vehicles is presently restricted.

Which is the key application in the Electric Trucks market?

In 2021, the light-duty trucks segment held the highest market share. The sales of light-duty vehicles have continued to rise. China accounted for the greatest number of light-duty vehicles in 2021; the growth results from the country’s market leaders and original equipment manufacturers. Due to a growing response to carbon dioxide (CO2) performance standards, Europe had the second-largest market share in 2022. In 2021, the segment of medium-duty vehicles held the second-largest market share. Greater demand for medium-duty vehicles exists in China, the United States, and Europe. Features and services are of minor importance compared to dependability and security.

How is the Electric Trucks market performing in regions?

Europe market is anticipated to witness the fastest growth in the global Electric Trucks market during the forecast period. Due to the substantial demand for zero-emission, low-cost electric vehicles in Europe, the region’s market is anticipated to experience significant expansion. Europe sold the lightest commercial vehicle in 2021. This may reflect that most electric LCVs are purchased for specific applications within fixed delivery locations and do not require a longer driving range. This will result in a dramatic increase in product demand.

Electric Trucks Market

What is the regulatory landscape for the Electric Trucks market?

ARAI is an independent organization affiliated with India’s Ministry of Heavy Industries. Numerous government agencies have recognized it as a Scientific and Industrial Research Organization for its crucial role in ensuring safe, more efficient, less polluting, and reliable vehicles. In addition, ARAI is one of the principal Testing and Certification agencies designated by the Government of India under Rule 126 of the 1989 Central Motor Vehicle Rules.

What is the Market Size of Electric Trucks regarding value?

The global Electric Trucks market is anticipated to grow at a substantial CAGR of 42.90% in the upcoming years. The global Electric Trucks industry was estimated to be worth USD 0.5 billion in 2022 and was expected to be worth USD 6.08 billion by 2030.

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What are the major players planning for the future of the Electric Trucks market?

Within the next 15 years, electrically powered trucks will replace conventional trucks in significant portions of the world. In Europe, North America, and Greater China, zero-emission vehicles (ZEVs) propelled by cells or fuel cells will account for one-third of all trucks by 2030. By 2035, their market share will increase to approximately 70%. Increasingly stringent regulatory requirements and concurrently declining total cost of ownership (TCO) for ZEVs are accelerating the transition. The war in Ukraine additionally raises the pressure for change in Europe, where numerous governments are realigning their energy strategies and decreasing their reliance on fossil fuels.

REPORT ATTRIBUTE DETAILS
Electric Trucks Market by Volume Yes
Electric Trucks Market by Value Yes
Electric Trucks Market, Tornado Analysis Yes
Electric Trucks Market, STAR Analysis Yes
Electric Trucks Market, SRC Analysis Yes
Electric Trucks Market, Import-Export Data Yes (On Demand)
Electric Trucks Market Pricing Analysis Yes (On Demand)
Electric Trucks Market Segment Analysis By Propulsion (Battery electric vehicle, Hybrid electric vehicle, Plug-in hybrid electric vehicle, and Fuel cell electric vehicle)

By Vehicle Type (Light-Duty Electric Truck, Medium-Duty Electric Truck, and Heavy-Duty Electric Truck)

By Range (Upto 150 Miles, 151-300 Miles, and Above 300 Miles)

Electric Trucks Market, Regional Analysis North America (US and Canada)

Europe (Germany, UK, France, Italy, Spain, and Rest of Europe)

Asia Pacific (China, India, Japan, South Korea, South East Asia, and Rest of Asia Pacific)

Latin America (Brazil, Mexico, and Rest of Latin America)

Middle East and Africa (GCC Countries, South Africa, and Rest of Middle East and Africa)

Electric Trucks Market Key Companies AB Volvo, BYD Compay Ltd., Daimler AG, Dongfeng Motor Company, Geely Automobiles Holdings Limited, Man SE, Paccar Inc, Scania, Tata Motors, and Workhorse
Electric Trucks Market Competitive Landscape Market Share Analysis

Competitive Benchmarking

Key Players Market Positioning

Geographical Presence Analysis

Major Strategies Adopted

Segmentation of Global Electric Trucks Market-

Global Electric Trucks Market – By Propulsion

  • Battery electric vehicle
  • Hybrid electric vehicle
  • Plug-in hybrid electric vehicle
  • Fuel cell electric vehicle

Global Electric Trucks Market – By Application

  • Light-Duty Electric Truck
  • Medium-Duty Electric Truck
  • Heavy-Duty Electric Truck

Global Electric Trucks Market – By Application

  • Upto 150 Miles
  • 151-300 Miles
  • Above 300 Miles

Global Electric Trucks Market – By Region

  • North America
    • US.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • South-east Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East and Africa

1. Preface
1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Primary Research
1.3.3. Phase III – Expert Panel Review
1.3.4. Approach Adopted
1.3.4.1. Top-Down Approach
1.3.4.2. Bottom-Up Approach
1.3.5. Assumptions
1.4. Market Introduction
1.5. Market Research Scope

2. Executive Summary
2.1. Market Snapshot: Global Electric Trucks Market
2.2. Global Electric Trucks Market, By Propulsion
2.3. Global Electric Trucks Market, By Vehicle Type
2.4. Global Electric Trucks Market, By Range
2.5. Global Electric Trucks Market, By Region

3. Market Dynamics & Factors Analysis
3.1. Introduction
3.1.1. Global Electric Trucks Market Value, 2017-2030, (US$ Mn))
3.1.2. Y-o-Y Growth Trend Analysis
3.2. Market Dynamics
3.2.1. Market Drivers
3.2.2. Market Restraints
3.2.3. Market Opportunities
3.2.4. Major Industry Challenges
3.3. Growth and Development Patterns
3.4. Investment Feasibility Analysis
3.5. Market Opportunity Analysis
3.5.1. Type
3.5.2. Vehicle Type
3.5.3. Range
3.5.4. Geography

4. Premium Insights
4.1. STAR (Situation, Task, Action, Results) Analysis
4.2. Porter’s Five Forces Analysis
4.2.1. Threat of New Entrants
4.2.2. Bargaining Power of Buyers/Consumers
4.2.3. Bargaining Power of Suppliers
4.2.4. Threat of Substitute Types
4.2.5. Intensity of Competitive Rivalry
4.3. Key Market Trends
4.3.1. Demand Side Trends
4.3.2. Supply Side Trends
4.4. Value Chain Analysis
4.5. Propulsion Analysis
4.6. Analysis and Recommendations
4.7. Marketing Strategy Analysis
4.7.1. Direct Marketing
4.7.2. Indirect Marketing
4.7.3. Marketing Channel Development Trend

5. Market Positioning of Key Players, 2022
5.1. Company market share of key players, 2022
5.2. Competitive Benchmarking
5.3. Market Positioning of Key Vendors
5.4. Geographical Presence Analysis
5.5. Major Strategies Adopted by Key Players
5.5.1. Key Strategies Analysis
5.5.2. Mergers and Acquisitions
5.5.3. Partnerships
5.5.4. Product Launch
5.5.5. Geographical Expansion
5.5.6. Others

6. Economic Impact Analysis
6.1. Recession Impact
6.1.1. North America
6.1.2. Europe
6.1.3. Asia Pacific
6.1.4. Latin America
6.1.5. Middle East and Africa
6.2. Ukraine-Russia War Impact
6.2.1. North America
6.2.2. Europe
6.2.3. Asia Pacific
6.2.4. Latin America
6.2.5. Middle East and Africa
6.3. COVID-19 Impact Analysis
6.3.1. North America
6.3.2. Europe
6.3.3. Asia Pacific
6.3.4. Latin America
6.3.5. Middle East and Africa

7. Global Electric Trucks Market
7.1. Global Electric Trucks Market, by Propulsion, 2017-2030 (US$ Mn))
7.1.1. Overview
7.1.2. Global Electric Trucks Market, By Propulsion, 2022 vs 2030 (in%)
7.1.3. Global Electric Trucks Market, By Battery electric vehicle, 2017-2030 (US$ Mn))
7.1.4. Global Electric Trucks Market, By Hybrid electric vehicle, 2017-2030 (US$ Mn))
7.1.5. Global Electric Trucks Market, By Plug-in hybrid electric vehicle, 2017-2030 (US$ Mn))
7.1.6. Global Electric Trucks Market, By Fuel cell electric vehicle, 2017-2030 (US$ Mn))
7.2. Global Electric Trucks Market, by Vehicle Type, 2017-2030 (US$ Mn))
7.2.1. Overview
7.2.2. Global Electric Trucks Market, By Vehicle Type, 2022 vs 2030 (in%)
7.2.3. Global Electric Trucks Market, By Light-Duty Electric Truck, 2017-2030 (US$ Mn))
7.2.4. Global Electric Trucks Market, By Medium-Duty Electric Truck, 2017-2030 (US$ Mn))
7.2.5. Global Electric Trucks Market, By Heavy-Duty Electric Truck, 2017-2030 (US$ Mn))
7.3. Global Electric Trucks Market, by Range, 2017-2030 (US$ Mn))
7.3.1. Overview
7.3.2. Global Electric Trucks Market, By Range, 2022 vs 2030 (in%)
7.3.3. Global Electric Trucks Market, By Upto 150 Miles, 2017-2030 (US$ Mn))
7.3.4. Global Electric Trucks Market, By 151-300 Miles, 2017-2030 (US$ Mn))
7.3.5. Global Electric Trucks Market, By Above 300 Miles, 2017-2030 (US$ Mn))

8. North America Electric Trucks Market Analysis
8.1. North America Electric Trucks Market, by Propulsion, 2017-2030(US$ Mn))
8.1.1. Overview
8.1.2. SRC Analysis
8.2. North America Electric Trucks Market, by Vehicle Type, 2017-2030(US$ Mn))
8.2.1. Overview
8.2.2. SRC Analysis
8.3. North America Electric Trucks Market, by Range, 2017-2030(US$ Mn))
8.3.1. Overview
8.3.2. SRC Analysis
8.4. North America Electric Trucks Market, by Country, 2017-2030 (US$ Mn))
8.4.1. U.S.
8.4.1.1. U.S. Electric Trucks Market Estimates and Forecast, 2017-2030 (US$ Mn))
8.4.1.2. U.S. Electric Trucks, By Propulsion, 2017-2030 (US$ Mn))
8.4.1.3. U.S. Electric Trucks, By Vehicle Type, 2017-2030 (US$ Mn))
8.4.1.4. U.S. Electric Trucks, By Range, 2017-2030 (US$ Mn))
8.4.2. Canada
8.4.2.1. Canada Electric Trucks Market Estimates and Forecast, 2017-2030 (US$ Mn))
8.4.2.2. Canada Electric Trucks, By Propulsion, 2017-2030 (US$ Mn))
8.4.2.3. Canada Electric Trucks, By Vehicle Type, 2017-2030 (US$ Mn))
8.4.2.4. Canada Electric Trucks, By Range, 2017-2030 (US$ Mn))

9. Europe Electric Trucks Market Analysis
9.1. Europe Electric Trucks Market, by Propulsion, 2017-2030(US$ Mn))
9.1.1. Overview
9.1.2. SRC Analysis
9.2. Europe Electric Trucks Market, by Vehicle Type, 2017-2030(US$ Mn))
9.2.1. Overview
9.2.2. SRC Analysis
9.3. Europe Electric Trucks Market, by Range, 2017-2030(US$ Mn))
9.3.1. Overview
9.3.2. SRC Analysis
9.4. Europe Electric Trucks Market, by Country, 2017-2030 (US$ Mn))
9.4.1. Germany
9.4.1.1. Germany Electric Trucks Market Estimates and Forecast, 2017-2030 (US$ Mn))
9.4.1.2. Germany Electric Trucks, By Propulsion, 2017-2030 (US$ Mn))
9.4.1.3. Germany Electric Trucks, By Vehicle Type, 2017-2030 (US$ Mn))
9.4.1.4. Germany Electric Trucks, By Range, 2017-2030 (US$ Mn))
9.4.2. France
9.4.2.1. France Electric Trucks Market Estimates and Forecast, 2017-2030 (US$ Mn))
9.4.2.2. France Electric Trucks, By Propulsion, 2017-2030 (US$ Mn))
9.4.2.3. France Electric Trucks, By Vehicle Type, 2017-2030 (US$ Mn))
9.4.2.4. France Electric Trucks, By Range, 2017-2030 (US$ Mn))
9.4.3. UK
9.4.3.1. UK Electric Trucks Market Estimates and Forecast, 2017-2030 (US$ Mn))
9.4.3.2. UK Electric Trucks, By Propulsion, 2017-2030 (US$ Mn))
9.4.3.3. UK Electric Trucks, By Vehicle Type, 2017-2030 (US$ Mn))
9.4.3.4. UK Electric Trucks, By Range, 2017-2030 (US$ Mn))
9.4.4. Italy
9.4.4.1. Italy Electric Trucks Market Estimates and Forecast, 2017-2030 (US$ Mn))
9.4.4.2. Italy Electric Trucks, By Propulsion, 2017-2030 (US$ Mn))
9.4.4.3. Italy Electric Trucks, By Vehicle Type, 2017-2030 (US$ Mn))
9.4.4.4. Italy Electric Trucks, By Range, 2017-2030 (US$ Mn))
9.4.5. Spain
9.4.5.1. Spain Electric Trucks Market Estimates and Forecast, 2017-2030 (US$ Mn))
9.4.5.2. Spain Electric Trucks, By Propulsion, 2017-2030 (US$ Mn))
9.4.5.3. Spain Electric Trucks, By Vehicle Type, 2017-2030 (US$ Mn))
9.4.5.4. Spain Electric Trucks, By Range, 2017-2030 (US$ Mn))
9.4.6. Rest of Europe
9.4.6.1. Rest of Europe Electric Trucks Market Estimates and Forecast, 2017-2030 (US$ Mn))
9.4.6.2. Rest of Europe Electric Trucks, By Propulsion, 2017-2030 (US$ Mn))
9.4.6.3. Rest of Europe Electric Trucks, By Vehicle Type, 2017-2030 (US$ Mn))
9.4.6.4. Rest of Europe Electric Trucks, By Range, 2017-2030 (US$ Mn))

10. Asia Pacific Electric Trucks Market Analysis
10.1. Asia Pacific Electric Trucks Market, by Propulsion, 2017-2030(US$ Mn))
10.1.1. Overview
10.1.2. SRC Analysis
10.2. Asia Pacific Electric Trucks Market, by Vehicle Type, 2017-2030(US$ Mn))
10.2.1. Overview
10.2.2. SRC Analysis
10.3. Asia Pacific Electric Trucks Market, by Range, 2017-2030(US$ Mn))
10.3.1. Overview
10.3.2. SRC Analysis
10.4. Asia Pacific Electric Trucks Market, by Country, 2017-2030 (US$ Mn))
10.4.1. China
10.4.1.1. China Electric Trucks Market Estimates and Forecast, 2017-2030 (US$ Mn))
10.4.1.2. China Electric Trucks, By Propulsion, 2017-2030 (US$ Mn))
10.4.1.3. China Electric Trucks, By Vehicle Type, 2017-2030 (US$ Mn))
10.4.1.4. China Electric Trucks, By Range, 2017-2030 (US$ Mn))
10.4.2. Japan
10.4.2.1. Japan Electric Trucks Market Estimates and Forecast, 2017-2030 (US$ Mn))
10.4.2.2. Japan Electric Trucks, By Propulsion, 2017-2030 (US$ Mn))
10.4.2.3. Japan Electric Trucks, By Vehicle Type, 2017-2030 (US$ Mn))
10.4.2.4. Japan Electric Trucks, By Range, 2017-2030 (US$ Mn))
10.4.3. India
10.4.3.1. India Electric Trucks Market Estimates and Forecast, 2017-2030 (US$ Mn))
10.4.3.2. India Electric Trucks, By Propulsion, 2017-2030 (US$ Mn))
10.4.3.3. India Electric Trucks, By Vehicle Type, 2017-2030 (US$ Mn))
10.4.3.4. India Electric Trucks, By Range, 2017-2030 (US$ Mn))
10.4.4. South Korea
10.4.4.1. South Korea Electric Trucks Market Estimates and Forecast, 2017-2030 (US$ Mn))
10.4.4.2. South Korea Electric Trucks, By Propulsion, 2017-2030 (US$ Mn))
10.4.4.3. South Korea Electric Trucks, By Vehicle Type, 2017-2030 (US$ Mn))
10.4.4.4. South Korea Electric Trucks, By Range, 2017-2030 (US$ Mn))
10.4.5. South-East Asia
10.4.5.1. South-East Asia Electric Trucks Market Estimates and Forecast, 2017-2030 (US$ Mn))
10.4.5.2. South-East Asia Electric Trucks, By Propulsion, 2017-2030 (US$ Mn))
10.4.5.3. South-East Asia Electric Trucks, By Vehicle Type, 2017-2030 (US$ Mn))
10.4.5.4. South-East Asia Electric Trucks, By Range, 2017-2030 (US$ Mn))
10.4.6. Rest of Asia Pacific
10.4.6.1. Rest of Asia Pacific Electric Trucks Market Estimates and Forecast, 2017-2030 (US$ Mn))
10.4.6.2. Rest of Asia Pacific Electric Trucks, By Propulsion, 2017-2030 (US$ Mn))
10.4.6.3. Rest of Asia Pacific Electric Trucks, By Vehicle Type, 2017-2030 (US$ Mn))
10.4.6.4. Rest of Asia Pacific Electric Trucks, By Range, 2017-2030 (US$ Mn))

11. Latin America Electric Trucks Market Analysis
11.1. Latin America Electric Trucks Market, by Propulsion, 2017-2030(US$ Mn))
11.1.1. Overview
11.1.2. SRC Analysis
11.2. Latin America Electric Trucks Market, by Vehicle Type, 2017-2030(US$ Mn))
11.2.1. Overview
11.2.2. SRC Analysis
11.3. Latin America Electric Trucks Market, by Range, 2017-2030(US$ Mn))
11.3.1. Overview
11.3.2. SRC Analysis
11.4. Latin America Electric Trucks Market, by Country, 2017-2030 (US$ Mn))
11.4.1. Brazil
11.4.1.1. Brazil Electric Trucks Market Estimates and Forecast, 2017-2030 (US$ Mn))
11.4.1.2. Brazil Electric Trucks, By Propulsion, 2017-2030 (US$ Mn))
11.4.1.3. Brazil Electric Trucks, By Vehicle Type, 2017-2030 (US$ Mn))
11.4.1.4. Brazil Electric Trucks, By Range, 2017-2030 (US$ Mn))
11.4.2. Mexico
11.4.2.1. Mexico Electric Trucks Market Estimates and Forecast, 2017-2030 (US$ Mn))
11.4.2.2. Mexico Electric Trucks, By Propulsion, 2017-2030 (US$ Mn))
11.4.2.3. Mexico Electric Trucks, By Vehicle Type, 2017-2030 (US$ Mn))
11.4.2.4. Mexico Electric Trucks, By Range, 2017-2030 (US$ Mn))
11.4.3. Rest of Latin America
11.4.3.1. Rest of Latin America Electric Trucks Market Estimates and Forecast, 2017-2030 (US$ Mn))
11.4.3.2. Rest of Latin America Electric Trucks, By Propulsion, 2017-2030 (US$ Mn))
11.4.3.3. Rest of Latin America Electric Trucks, By Vehicle Type, 2017-2030 (US$ Mn))
11.4.3.4. Rest of Latin America Electric Trucks, By Range, 2017-2030 (US$ Mn))

12. Middle East and Africa Electric Trucks Market Analysis
12.1. Middle East and Africa Electric Trucks Market, by Propulsion, 2017-2030(US$ Mn))
12.1.1. Overview
12.1.2. SRC Analysis
12.2. Middle East and Africa Electric Trucks Market, by Vehicle Type, 2017-2030(US$ Mn))
12.2.1. Overview
12.2.2. SRC Analysis
12.3. Middle East and Africa Electric Trucks Market, by Range, 2017-2030(US$ Mn))
12.3.1. Overview
12.3.2. SRC Analysis
12.4. Middle East and Africa Electric Trucks Market, by Country, 2017-2030 (US$ Mn))
12.4.1. GCC Countries
12.4.1.1. GCC Countries Electric Trucks Market Estimates and Forecast, 2017-2030 (US$ Mn))
12.4.1.2. GCC Countries Electric Trucks, By Propulsion, 2017-2030 (US$ Mn))
12.4.1.3. GCC Countries Electric Trucks, By Vehicle Type, 2017-2030 (US$ Mn))
12.4.1.4. GCC Countries Electric Trucks, By Range, 2017-2030 (US$ Mn))
12.4.2. South Africa
12.4.2.1. South Africa Electric Trucks Market Estimates and Forecast, 2017-2030 (US$ Mn))
12.4.2.2. South Africa Electric Trucks, By Propulsion, 2017-2030 (US$ Mn))
12.4.2.3. South Africa Electric Trucks, By Vehicle Type, 2017-2030 (US$ Mn))
12.4.2.4. South Africa Electric Trucks, By Range, 2017-2030 (US$ Mn))
12.4.3. Rest of Middle East and Africa
12.4.3.1. Rest of Middle East and Africa Electric Trucks Market Estimates and Forecast, 2017-2030 (US$ Mn))
12.4.3.2. Rest of Middle East and Africa Electric Trucks, By Propulsion, 2017-2030 (US$ Mn))
12.4.3.3. Rest of Middle East and Africa Electric Trucks, By Vehicle Type, 2017-2030 (US$ Mn))
12.4.3.4. Rest of Middle East and Africa Electric Trucks, By Range, 2017-2030 (US$ Mn))

13. Company Profiles
13.1. AB Volvo.
13.1.1. Company Overview
13.1.2. Products/Services Portfolio
13.1.3. Geographical Presence
13.1.4. Financial Summary
13.1.4.1. Market Revenue and Net Profit (2019-2022)
13.1.4.2. Business Segment Revenue Analysis
13.1.4.3. Geographical Revenue Analysis
13.2. BYD Compay Ltd.
13.3. Daimler AG
13.4. Dongfeng Motor Company
13.5. Geely Automobiles Holdings Limited
13.6. Man SE
13.7. Paccar Inc.
13.8. Scania
13.9. Tata Motors
13.10. Workhorse

List of Figures

FIG. 1 Global Electric Trucks Market: Research Methodology
FIG. 2 Market Size Estimation – Top Down & Bottom up Approach
FIG. 3 Global Electric Trucks Market Segmentation
FIG. 4 Global Electric Trucks Market, by Propulsion, 2022 (US$ Mn))
FIG. 5 Global Electric Trucks Market, by Vehicle Type, 2022 (US$ Mn))
FIG. 6 Global Electric Trucks Market, by Range, 2022 (US$ Mn))
FIG. 7 Global Electric Trucks Market, by Geography, 2022 (US$ Mn))
FIG. 8 Attractive Investment Proposition, by Propulsion, 2022
FIG. 9 Attractive Investment Proposition, by Vehicle Type, 2022
FIG. 10 Attractive Investment Proposition, by Range, 2022
FIG. 11 Attractive Investment Proposition, by Geography, 2022
FIG. 12 Global Market Share Analysis of Key Electric Trucks Market Manufacturers, 2022
FIG. 13 Global Market Positioning of Key Electric Trucks Market Manufacturers, 2022
FIG. 14 Global Electric Trucks Market Value Contribution, By Propulsion, 2022 & 2030 (Value %)
FIG. 15 Global Electric Trucks Market, by Battery electric vehicle, Value, 2017-2030 (US$ Mn))
FIG. 16 Global Electric Trucks Market, by Hybrid electric vehicle, Value, 2017-2030 (US$ Mn))
FIG. 17 Global Electric Trucks Market, by Plug-in hybrid electric vehicle, Value, 2017-2030 (US$ Mn))
FIG. 18 Global Electric Trucks Market, by Fuel cell electric vehicle, Value, 2017-2030 (US$ Mn))
FIG. 19 Global Electric Trucks Market Value Contribution, By Vehicle Type, 2022 & 2030 (Value %)
FIG. 20 Global Electric Trucks Market, By Light-Duty Electric Truck, Value, 2017-2030 (US$ Mn))
FIG. 21 Global Electric Trucks Market, by Medium-Duty Electric Truck, 2017-2030 (US$ Mn))
FIG. 22 Global Electric Trucks Market, by Heavy-Duty Electric Truck, 2017-2030 (US$ Mn))
FIG. 23 Global Electric Trucks Market Value Contribution, By Range, 2022 & 2030 (Value %)
FIG. 24 Global Electric Trucks Market, by Upto 150 Miles, Value, 2017-2030 (US$ Mn))
FIG. 25 Global Electric Trucks Market, by 151-300 Miles, 2017-2030 (US$ Mn))
FIG. 26 Global Electric Trucks Market, by Above 300 Miles, 2017-2030 (US$ Mn))
FIG. 27 North America Electric Trucks Market, 2017-2030 (US$ Mn))
FIG. 28 U.S. Electric Trucks Market, 2017-2030 (US$ Mn))
FIG. 29 Canada Electric Trucks Market, 2017-2030 (US$ Mn))
FIG. 30 Europe Electric Trucks Market, 2017-2030 (US$ Mn))
FIG. 31 Germany Electric Trucks Market, 2017-2030 (US$ Mn))
FIG. 32 France Electric Trucks Market, 2017-2030 (US$ Mn))
FIG. 33 U.K. Electric Trucks Market, 2017-2030 (US$ Mn))
FIG. 34 Italy Electric Trucks Market, 2017-2030 (US$ Mn))
FIG. 35 Spain Electric Trucks Market, 2017-2030 (US$ Mn))
FIG. 36 Rest of Europe Electric Trucks Market, 2017-2030 (US$ Mn))
FIG. 37 Asia Pacific Electric Trucks Market, 2017-2030 (US$ Mn))
FIG. 38 China Electric Trucks Market, 2017-2030 (US$ Mn))
FIG. 39 Japan Electric Trucks Market, 2017-2030 (US$ Mn))
FIG. 40 India Electric Trucks Market, 2017-2030 (US$ Mn))
FIG. 41 South Korea Electric Trucks Market, 2017-2030 (US$ Mn))
FIG. 42 South-East Asia Electric Trucks Market, 2017-2030 (US$ Mn))
FIG. 43 Rest of Asia Pacific Electric Trucks Market, 2017-2030 (US$ Mn))
FIG. 44 Latin America Electric Trucks Market, 2017-2030 (US$ Mn))
FIG. 45 Brazil Electric Trucks Market, 2017-2030 (US$ Mn))
FIG. 46 Mexico Electric Trucks Market, 2017-2030 (US$ Mn))
FIG. 47 Rest of Latin America Electric Trucks Market, 2017-2030 (US$ Mn))
FIG. 48 Middle East & Africa Electric Trucks Market, 2017-2030 (US$ Mn))
FIG. 49 GCC Countries Electric Trucks Market, 2017-2030 (US$ Mn))
FIG. 50 South Africa Electric Trucks Market, 2017-2030 (US$ Mn))
FIG. 51 Rest of Middle East and Africa Electric Trucks Market, 2017-2030 (US$ Mn))

List of Tables

TABLE 1 Market Snapshot: Global Electric Trucks Market
TABLE 2 Global Electric Trucks Market, by Competitive Benchmarking, 2022
TABLE 3 Global Electric Trucks Market, by Geographical Presence Analysis, 2022
TABLE 4 Global Electric Trucks Market, by Key Strategies Analysis, 2022
TABLE 5 Global Electric Trucks Market, by Propulsion, 2017-2030 (US$ Mn))
TABLE 6 Global Electric Trucks Market, by Vehicle Type, 2017-2030 (US$ Mn))
TABLE 7 Global Electric Trucks Market, by Range, 2017-2030 (US$ Mn))
TABLE 8 Global Electric Trucks Market, by Geography, 2017-2030 (US$ Mn))
TABLE 9 North America Electric Trucks Market, by Propulsion, 2017-2030 (US$ Mn))
TABLE 10 North America Electric Trucks Market, by Vehicle Type, 2017-2030 (US$ Mn))
TABLE 11 North America Electric Trucks Market, by Range, 2017-2030 (US$ Mn))
TABLE 12 North America Electric Trucks Market, by Country, 2017-2030 (US$ Mn))
TABLE 13 US Electric Trucks Market, by Propulsion, 2017-2030 (US$ Mn))
TABLE 14 US Electric Trucks Market, by Vehicle Type, 2017-2030 (US$ Mn))
TABLE 15 US Electric Trucks Market, by Range, 2017-2030 (US$ Mn))
TABLE 16 Canada Electric Trucks Market, by Propulsion, 2017-2030 (US$ Mn))
TABLE 17 Canada Electric Trucks Market, by Vehicle Type, 2017-2030 (US$ Mn))
TABLE 18 Canada Electric Trucks Market, by Range, 2017-2030 (US$ Mn))
TABLE 19 Europe Electric Trucks Market, by Propulsion, 2017-2030 (US$ Mn))
TABLE 20 Europe Electric Trucks Market, by Vehicle Type, 2017-2030 (US$ Mn))
TABLE 21 Europe Electric Trucks Market, by Range, 2017-2030 (US$ Mn))
TABLE 22 Europe Electric Trucks Market, by Country, 2017-2030 (US$ Mn))
TABLE 23 Germany Electric Trucks Market, by Propulsion, 2017-2030 (US$ Mn))
TABLE 24 Germany Electric Trucks Market, by Vehicle Type, 2017-2030 (US$ Mn))
TABLE 25 Germany Electric Trucks Market, by Range, 2017-2030 (US$ Mn))
TABLE 26 France Electric Trucks Market, by Propulsion, 2017-2030 (US$ Mn))
TABLE 27 France Electric Trucks Market, by Vehicle Type, 2017-2030 (US$ Mn))
TABLE 28 France Electric Trucks Market, by Range, 2017-2030 (US$ Mn))
TABLE 29 UK Electric Trucks Market, by Propulsion, 2017-2030 (US$ Mn))
TABLE 30 UK Electric Trucks Market, by Vehicle Type, 2017-2030 (US$ Mn))
TABLE 31 UK Electric Trucks Market, by Range, 2017-2030 (US$ Mn))
TABLE 32 Italy Electric Trucks Market, by Propulsion, 2017-2030 (US$ Mn))
TABLE 33 Italy Electric Trucks Market, by Vehicle Type, 2017-2030 (US$ Mn))
TABLE 34 Italy Electric Trucks Market, by Range, 2017-2030 (US$ Mn))
TABLE 35 Spain Electric Trucks Market, by Propulsion, 2017-2030 (US$ Mn))
TABLE 36 Spain Electric Trucks Market, by Vehicle Type, 2017-2030 (US$ Mn))
TABLE 37 Spain Electric Trucks Market, by Range, 2017-2030 (US$ Mn))
TABLE 38 Rest of Europe Electric Trucks Market, by Propulsion, 2017-2030 (US$ Mn))
TABLE 39 Rest of Europe Electric Trucks Market, by Vehicle Type, 2017-2030 (US$ Mn))
TABLE 40 Rest of Europe Electric Trucks Market, by Range, 2017-2030 (US$ Mn))
TABLE 41 Asia Pacific Electric Trucks Market, by Propulsion, 2017-2030 (US$ Mn))
TABLE 42 Asia Pacific Electric Trucks Market, by Vehicle Type, 2017-2030 (US$ Mn))
TABLE 43 Asia Pacific Electric Trucks Market, by Range, 2017-2030 (US$ Mn))
TABLE 44 Asia Pacific Electric Trucks Market, by Country, 2017-2030 (US$ Mn))
TABLE 45 China Electric Trucks Market, by Propulsion, 2017-2030 (US$ Mn))
TABLE 46 China Electric Trucks Market, by Vehicle Type, 2017-2030 (US$ Mn))
TABLE 47 China Electric Trucks Market, by Range, 2017-2030 (US$ Mn))
TABLE 48 Japan Electric Trucks Market, by Propulsion, 2017-2030 (US$ Mn))
TABLE 49 Japan Electric Trucks Market, by Vehicle Type, 2017-2030 (US$ Mn))
TABLE 50 Japan Electric Trucks Market, by Range, 2017-2030 (US$ Mn))
TABLE 51 India Electric Trucks Market, by Propulsion, 2017-2030 (US$ Mn))
TABLE 52 India Electric Trucks Market, by Vehicle Type, 2017-2030 (US$ Mn))
TABLE 53 India Electric Trucks Market, by Range, 2017-2030 (US$ Mn))
TABLE 54 South Korea Electric Trucks Market, by Propulsion, 2017-2030 (US$ Mn))
TABLE 55 South Korea Electric Trucks Market, by Vehicle Type, 2017-2030 (US$ Mn))
TABLE 56 South Korea Electric Trucks Market, by Range, 2017-2030 (US$ Mn))
TABLE 57 South-East Asia Electric Trucks Market, by Propulsion, 2017-2030 (US$ Mn))
TABLE 58 South-East Asia Electric Trucks Market, by Vehicle Type, 2017-2030 (US$ Mn))
TABLE 59 South-East Asia Electric Trucks Market, by Range, 2017-2030 (US$ Mn))
TABLE 60 Rest of Asia Pacific Electric Trucks Market, by Propulsion, 2017-2030 (US$ Mn))
TABLE 61 Rest of Asia Pacific Electric Trucks Market, by Vehicle Type, 2017-2030 (US$ Mn))
TABLE 62 Rest of Asia Pacific Electric Trucks Market, by Range, 2017-2030 (US$ Mn))
TABLE 63 Latin America Electric Trucks Market, by Propulsion, 2017-2030 (US$ Mn))
TABLE 64 Latin America Electric Trucks Market, by Vehicle Type, 2017-2030 (US$ Mn))
TABLE 65 Latin America Electric Trucks Market, by Range, 2017-2030 (US$ Mn))
TABLE 66 Latin America Electric Trucks Market, by Country, 2017-2030 (US$ Mn))
TABLE 67 Brazil Electric Trucks Market, by Propulsion, 2017-2030 (US$ Mn))
TABLE 68 Brazil Electric Trucks Market, by Vehicle Type, 2017-2030 (US$ Mn))
TABLE 69 Brazil Electric Trucks Market, by Range, 2017-2030 (US$ Mn))
TABLE 70 Mexico Electric Trucks Market, by Propulsion, 2017-2030 (US$ Mn))
TABLE 71 Mexico Electric Trucks Market, by Vehicle Type, 2017-2030 (US$ Mn))
TABLE 72 Mexico Electric Trucks Market, by Range, 2017-2030 (US$ Mn))
TABLE 73 Rest of Latin America Electric Trucks Market, by Propulsion, 2017-2030 (US$ Mn))
TABLE 74 Rest of Latin America Electric Trucks Market, by Vehicle Type, 2017-2030 (US$ Mn))
TABLE 75 Rest of Latin America Electric Trucks Market, by Range, 2017-2030 (US$ Mn))
TABLE 76 Middle East and Africa Electric Trucks Market, by Propulsion, 2017-2030 (US$ Mn))
TABLE 77 Middle East and Africa Electric Trucks Market, by Vehicle Type, 2017-2030 (US$ Mn))
TABLE 78 Middle East and Africa Electric Trucks Market, by Range, 2017-2030 (US$ Mn))
TABLE 79 Middle East and Africa Electric Trucks Market, by Country, 2017-2030 (US$ Mn))
TABLE 80 GCC Countries Electric Trucks Market, by Propulsion, 2017-2030 (US$ Mn))
TABLE 81 GCC Countries Electric Trucks Market, by Vehicle Type, 2017-2030 (US$ Mn))
TABLE 82 GCC Countries Electric Trucks Market, by Range, 2017-2030 (US$ Mn))
TABLE 83 South Africa Electric Trucks Market, by Propulsion, 2017-2030 (US$ Mn))
TABLE 84 South Africa Electric Trucks Market, by Vehicle Type, 2017-2030 (US$ Mn))
TABLE 85 South Africa Electric Trucks Market, by Range, 2017-2030 (US$ Mn))
TABLE 86 Rest of Middle East and Africa Electric Trucks Market, by Propulsion, 2017-2030 (US$ Mn))
TABLE 87 Rest of Middle East and Africa Electric Trucks Market, by Vehicle Type, 2017-2030 (US$ Mn))
TABLE 88 Rest of Middle East and Africa Electric Trucks Market, by Range, 2017-2030 (US$ Mn))

Frequently Asked Questions

How does COVID-19 Impact the global Electric Trucks market?

The COVID-19 pandemic is anticipated to impact market expansion significantly. Global supply chains and production facilities have been disrupted due to the lockdowns imposed to halt the spread of the disease.

Which is the leading region of the market for Electric Trucks?

North America accounted for the most heightened share in the global Electric Trucks market.

What are the key drivers for the growth of the Electric Trucks market?

Increasing demand in the logistics industry, decreases in fuel and maintenance costs, and incentives for adopting zero-emission vehicles are major factors propelling market expansion.

Which is the major segment in the Electric Trucks market by type?

The Battery electric vehicle segment had a major share in the global market in 2022.

Which is the major segment in the Electric Trucks market by application?

The Light-Duty Electric Truck segment had a major share in the global market.

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