Global Electric Truck Market Overview And Prospects – Includes Electric Truck Industry
Learn about the global electric truck market through The Business Research Company, which provides information on electric truck market size, electric truck market drivers and restraints, electric truck market players, the COVID-19 impact on the electric truck market, and more.
The global electric truck market is expected to grow from $1.26 billion in 2021 to $1.83 billion in 2022 at a compound annual growth rate (CAGR) of 45.06%. The electric truck market is expected to reach $8.99 billion in 2026 at a CAGR of 48.78%.
Government incentives and schemes are expected to drive the growth of the electric truck market.
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The electric truck market consists of sales of the electric truck by entities (organizations, sole traders, partnerships) that refers to a large motorized vehicle with an open bed designed to transport goods and whose primary propulsion technology is battery-electric or powered by rechargeable batteries alone or hydrogen fuel cell electric or hybrid electric that are powered by batteries and an internal combustion engine.
Global Electric Truck Market Segments Include:
By Vehicle Type: Light-Duty Electric Truck, Medium-Duty Electric Truck, Heavy-Duty Electric Truck
By Propulsion: Battery Electric Vehicle, Hybrid Electric Vehicle, Plug-In Hybrid Electric Vehicle, Fuel Cell Electric Vehicle
By Range: Upto 150 Miles, 151-300 Miles, Above 300 Miles
By End User: Last Mile Delivery, Long Haul Transportation, Refuse Services, Field Services, Distribution services
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Western Europe was the largest region in the electric truck market in 2021
The development of self-driving electric trucks is the key trend gaining popularity in the electric trucks sector. The companies operating in the electric trucks sector are partnering with related technology-based companies to boost their development activities in innovative self-driving truck models.
Major Market Players: 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.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2016-21) and ten years forecast (2022-2026-2031)
The Electric Truck Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides electric truck market overviews, analyzes and forecasts market size, share, electric truck market players, electric truck market segments and geographies, leading competitor revenues, profiles and market shares.
TBRC’s electric truck market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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