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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 (0-150 miles, 151-300 miles, and 300 miles above): Global Opportunity Analysis and Industry Forecast, 2020–2027

A06183
Pages: 278
Jul 2020 | 1718 Views
 
Author(s) : Anvay Sonpimple , Sonia Mutreja
Tables: 111
Charts: 73
 

COVID-19

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Electric truck Market Statistics 2020-2027:

The global electric truck market size was valued at $422.5 million in 2019 and is projected to reach $1,893.1 million by 2027, registering a CAGR of 25.8% from 2020 to 2027. Asia-Pacific accounted for the highest share in the global electric truck market in 2019, in terms of revenue, and LAMEA is anticipated to exhibit remarkable growth rate during the electric truck market forecast period. 

Measures such as closing factories, dealerships, offices, resulting dismissal of short time workers, and fear of recession that are politically enforced in order to contain the virus are anticipated to lead to a significant decline in sales of new vehicles. These factors are anticipated to significantly impact the electric truck market.

Electric trucks can be defined as the commercial vehicles that are powered by the pack of batteries and are used for transportation of cargos. In addition, in electric trucks, motors inside have fewer parts moving as compared to diesel truck and don’t need multi-speed transmissions, which in turn reduce maintenance cost of the vehicle and improve reliability with almost zero noise pollution. Further, electric trucks are becoming the preferred choice over diesel trucks owing to government initiative to promote adoption of electric truck and its remarkable advantages such as gobs of torque, no noise pollution, lower maintenance cost, and others.

Electric-Truck-Market-2020-2027

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COVID Impact Analysis: Measures such as closing factories, dealerships, offices, resulting dismissal of short time workers, and fear of recession that are politically enforced in order to contain the virus are anticipated to lead to a significant decline in sales of new vehicles. These factors are anticipated to significantly impact the electric truck market.

Factors such as increasing government initiatives for promotion of e-mobility and stringent emission norms imposed on fossil-fuel powered vehicles are driving the growth of electric truck market. However, lack of charging infrastructure and high cost of electric trucks are expected to hinder the growth of the market during the forecast period. Further, rising demand for electric trucks from the logistics sector is anticipated to provide remarkable growth opportunity for the companies operating in the electric truck market.

The electric truck market is segmented on the basis of propulsion, vehicle type, range, and region. By propulsion, the market is classified into battery electric truck, hybrid electric truck, plug-in hybrid electric truck, and fuel cell electric truck. By vehicle type, it is categorized into light duty electric truck, medium duty electric truck, and heavy duty electric truck. By Range, it is divided into 0-150 miles, 151-300 Miles, and above 300 miles. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Key players profiled in electric truck market the report include AB VOLVO, BYD Company Ltd., DAIMLER AG, Dongfeng Motor Group Co., Ltd., MAN SE, Rivian, SCANIA AB, Tata Motors, Tesla, Workhorse, and others.

Increasing government initiatives for promotion of e-mobility

Governments across the world are putting pressure on vehicle manufacturers to reduce carbon emissions caused by diesel fuel combustion and tackle the greenhouse gas emissions, in turn, pushing them to invest in developing electric trucks. For that, Governments are providing incentives with programs and schemes for manufacturing of battery electric trucks, which in turn is anticipated to propel the growth of the electric truck market. In addition, governments around the world are supporting for the purchase of electric mobility, in terms of tax credits and incentives. Moreover, the central governments of few countries are providing exemption from the highway toll tax for electric vehicles. For instance, for faster adoption of electric vehicles, the Indian government plans to lower the Goods & Service Tax (GST) on e-vehicles from 12% to 5%. Moreover, around $2,101.5 tax exemptions will be given on loan taken for the purchase of an e-mobility. In addition, the South Korean government has announced that it will be providing the $900 million tax exemptions and subsidies for development and purchase of electric and fuel cell vehicle. Thus, increase in government support for the development and purchase of electric mobility, in terms of tax credits, subsidies and incentives, is one of the major factor propelling the demand for electric truck.

Electric Truck Market
By Propulsion

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Fuel cell electric truck segment is projected as the most lucrative segments

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Stringent emission norms imposed on fossil-fuel powered vehicles

With the growing environmental concerns, governments and environmental agencies across the world are enacting stringent emission norms and laws to reduce vehicle emission. Major regulatory measures are stringent emissions targets for the reduction of nitrogen oxides (NOx) and carbon dioxide (CO2) in air. Due to the high amounts of greenhouse gases being emitted from vehicles, the federal and state governments in the U.S. are stepping up efforts to make transportation cleaner. For instance, the U.S. Environmental Protection Agency (EPA) announced that it is working on new rules to decrease emissions of nitrogen oxide (NOx) and other pollutants from heavy-duty trucks. In addition, the California Air Resources Board (CARB) is adopting heavy-duty Low NOx Omnibus Regulation, which aims to achieve a 90% reduction from current NOx emissions limits by 2027. Moreover, in Europe, European Union (EU) committed within the Paris agreement (COP21) to achieve its 20% greenhouse gas reduction target in 2020 for the second phase of the Kyoto Protocol. The EU has also set the target to achieve 40% greenhouse gas reduction by 2040 and net-zero by 2050. Therefore, with the enactment of the emission regulations for fossil fuel-powered vehicle, the burden on vehicle manufacturers, especially on commercial vehicle manufacturers has further increased. This, in turn, is expected to drive the demand for electric trucks.

Electric Truck Market
By Vehicle Type

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Heavy duty electric truck segment is projected as the most lucrative segments

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Lack of charging infrastructure

Governments of various countries are promoting to adoption of electric vehicles for commercial purpose in order to reduce the emission of greenhouse into environment. However, lack of charging infrastructure for electric trucks acts as an obstacle for the electric truck market. For instance, government of India is aiming to have only electric vehicle on roads by the year 2030. However, creation of robust electric vehicle infrastructure is one of the key requirements to ensure the adoption of electric vehicles. Unfortunately, EV charging infrastructure in India is inadequate at present and yet to catch up to meet the requirement, which in turn is hampering the growth of the electric truck market. In addition, though China is one of the biggest markets for electric vehicles, the country is struggling to support sufficient electric vehicle charging infrastructure to recharge electric fleets, which is anticipated to hinder the market. Thus, lack of charging infrastructure is restraining the growth of the electric truck market.

Electric Truck Market
By Range

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300 miles above segment is projected as the most lucrative segments

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Rising demand for electric trucks from the logistics sector

Reduction in emission of harmful gases from the vehicles is observed as demand for green transport is increasing worldwide, especially in the freight transportation industry, which contributes highly to carbon dioxide emissions. In addition, replacement of commercial diesel vehicles by electric vehicle and supportive government initiatives for adoption of electric trucks are anticipated to boost the electric truck market. Attributed to the rising demand for logistics services on account of expanding e-commerce, retail and manufacturing industries, the supply chain and logistics companies are actively participating in replacing their fleet with greener vehicles. For instance, in the UK, logistics companies have started plans to deploy more electric commercial vehicle in its fleet size in the coming years. In 2016, United Parcel Service (UPS), an American multinational package delivery and supply chain management company, and ARRIVAL, a UK-based technology firm, announced to develop a state-of-the-art pilot fleet of 35 commercial electric delivery vehicles to be trialed in London and Paris. In addition, in March 2019, Yamato Transport Co., Ltd. (Yamato Transport) announced that it has jointly developed a compact commercial electric truck for home delivery with StreetScooter GmbH (Aachen, Germany), a Post DHL Group company. Yamato Transport plans to introduce 500 electric trucks in 2019, and start using them from autumn successively in Tokyo, Saitama, Chiba, and Kanagawa. 

Electric Truck Market
By region

2027
Asia-pacific 
North America
Europe
Lamea

LAMEA region segment is projected as the most lucrative segments

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Key Benefits For Stakeholders

  • This study presents the analytical depiction of the global electric truck market analysis along with the current trends and future estimations to depict the imminent investment pockets.
  • The overall electric truck market opportunity is determined by understanding the profitable trends to gain a stronger foothold.
  • The report presents information related to the key drivers, restraints, and opportunities of the market with a detailed impact analysis.
  • The current electric truck market is quantitatively analyzed from 2019 to 2027 to benchmark the financial competency.
  • Porter’s five forces analysis illustrates the potency of buyers and suppliers in the industry.

Key Market Segments

By Propulsion

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

By Vehicle Type

  • Light duty electric truck
  • Medium duty electric truck
  • Heavy duty electric truck

By Range

  • 0-150 miles
  • 151-300 miles
  • 300 miles above

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Russia
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa

Key Market Players

  • AB VOLVO
  • BYD Company Ltd.
  • DAIMLER AG
  • Dongfeng Motor Group Co., Ltd.
  • MAN SE
  • Rivian
  • SCANIA AB
  • Tata Motors
  • Tesla
  • Workhorse
 

CHAPTER 1:INTRODUCTION

1.1.Report description
1.2.Key benefits for stakeholders
1.3.Key market segments
1.4.Research methodology

1.4.1.Primary research
1.4.2.Secondary research
1.4.3.Analyst tools and models

CHAPTER 2:EXECUTIVE SUMMARY

2.1.CXO perspective

CHAPTER 3:MARKET OVERVIEW

3.1.Market definition and scope
3.2.Key findings

3.2.1.Top impacting factors
3.2.2.Top investment pockets
3.2.3.Top winning strategies

3.3.Porter’s five forces analysis
3.4.Market share analysis, 2019(%)
3.5.Market dynamics

3.5.1.Drivers

3.5.1.1.Increasing government initiatives for promotion of e-mobility
3.5.1.2.Stringent emission norms imposed on fossil-fuel powered vehicles.

3.5.2.Restraints

3.5.2.1.Lack of charging infrastructure
3.5.2.2.High cost of electric trucks

3.5.3.Opportunities

3.5.3.1.Rising demand for electric trucks from the logistics sector.

CHAPTER 4:ELECTRIC TRUCK MARKET, BY PROPULSION

4.1.Overview
4.2.Battery electric truck

4.2.1.Key market trends, growth factors and opportunities
4.2.2.Market size and forecast, by region
4.2.3.Market analysis by country

4.3.Hybrid electric truck

4.3.1.Key market trends, growth factors, and opportunities
4.3.2.Market size and forecast, by region
4.3.3.Market analysis by country

4.4.Plug-in hybrid electric truck

4.4.1.Key market trends, growth factors and opportunities
4.4.2.Market size and forecast, by region
4.4.3.Market analysis by country

4.5.Fuel cell electric truck

4.5.1.Key market trends, growth factors, and opportunities
4.5.2.Market size and forecast, by region
4.5.3.Market analysis by country

CHAPTER 5:ELECTRIC TRUCK MARKET, BY VEHICLE TYPE

5.1.Overview
5.2.Light duty electric truck

5.2.1.Key market trends, growth factors and opportunities
5.2.2.Market size and forecast, by region
5.2.3.Market analysis by country

5.3.Medium duty electric truck

5.3.1.Key market trends, growth factors, and opportunities
5.3.2.Market size and forecast, by region
5.3.3.Market analysis by country

5.4.Heavy duty electric truck

5.4.1.Key market trends, growth factors, and opportunities
5.4.2.Market size and forecast, by region
5.4.3.Market analysis by country

CHAPTER 6:ELECTRIC TRUCK MARKET, BY RANGE

6.1.Overview
6.2.0-150 miles

6.2.1.Key market trends, growth factors and opportunities
6.2.2.Market size and forecast, by region
6.2.3.Market analysis by country

6.3.151-300 miles

6.3.1.Key market trends, growth factors, and opportunities
6.3.2.Market size and forecast, by region
6.3.3.Market analysis by country

6.4.300 miles above

6.4.1.Key market trends, growth factors, and opportunities
6.4.2.Market size and forecast, by region
6.4.3.Market analysis by country

CHAPTER 7:ELECTRIC TRUCK MARKET, BY REGION

7.1.Overview
7.2.North America

7.2.1.Key market trends, growth factors, and opportunities
7.2.2.Market size and forecast, by propulsion
7.2.3.Market size and forecast, by vehicle type
7.2.4.Market size and forecast, by Range
7.2.5.Market analysis by country

7.2.5.1.U.S.

7.2.5.1.1.Market size and forecast, by propulsion
7.2.5.1.2.Market size and forecast, by vehicle type
7.2.5.1.3.Market size and forecast, by Range

7.2.5.2.Canada

7.2.5.2.1.Market size and forecast, by propulsion
7.2.5.2.2.Market size and forecast, by vehicle type
7.2.5.2.3.Market size and forecast, by Range

7.2.5.3.Mexico

7.2.5.3.1.Market size and forecast, by propulsion
7.2.5.3.2.Market size and forecast, by vehicle type
7.2.5.3.3.Market size and forecast, by Range

7.3.Europe

7.3.1.Key market trends, growth factors, and opportunities
7.3.2.Market size and forecast, by propulsion
7.3.3.Market size and forecast, by vehicle type
7.3.4.Market size and forecast, by Range
7.3.5.Market analysis by country

7.3.5.1.UK

7.3.5.1.1.Market size and forecast, by propulsion
7.3.5.1.2.Market size and forecast, by vehicle type
7.3.5.1.3.Market size and forecast, by Range

7.3.5.2.Germany

7.3.5.2.1.Market size and forecast, by propulsion
7.3.5.2.2.Market size and forecast, by vehicle type
7.3.5.2.3.Market size and forecast, by Range

7.3.5.3.France

7.3.5.3.1.Market size and forecast, by propulsion
7.3.5.3.2.Market size and forecast, by vehicle type
7.3.5.3.3.Market size and forecast, by Range

7.3.5.4.Russia

7.3.5.4.1.Market size and forecast, by propulsion
7.3.5.4.2.Market size and forecast, by vehicle type
7.3.5.4.3.Market size and forecast, by Range

7.3.5.5.Rest of Europe

7.3.5.5.1.Market size and forecast, by propulsion
7.3.5.5.2.Market size and forecast, by vehicle type
7.3.5.5.3.Market size and forecast, by Range

7.4.Asia-Pacific

7.4.1.Key market trends, growth factors, and opportunities
7.4.2.Market size and forecast, by propulsion
7.4.3.Market size and forecast, by vehicle type
7.4.4.Market size and forecast, by Range
7.4.5.Market analysis by country

7.4.5.1.China

7.4.5.1.1.Market size and forecast, by propulsion
7.4.5.1.2.Market size and forecast, by vehicle type
7.4.5.1.3.Market size and forecast, by Range

7.4.5.2.Japan

7.4.5.2.1.Market size and forecast, by propulsion
7.4.5.2.2.Market size and forecast, by vehicle type
7.4.5.2.3.Market size and forecast, by Range

7.4.5.3.India

7.4.5.3.1.Market size and forecast, by propulsion
7.4.5.3.2.Market size and forecast, by vehicle type
7.4.5.3.3.Market size and forecast, by Range

7.4.5.4.South Korea

7.4.5.4.1.Market size and forecast, by propulsion
7.4.5.4.2.Market size and forecast, by vehicle type
7.4.5.4.3.Market size and forecast, by Range

7.4.5.5.Rest of Asia-Pacific

7.4.5.5.1.Market size and forecast, by propulsion
7.4.5.5.2.Market size and forecast, by vehicle type
7.4.5.5.3.Market size and forecast, by Range

7.5.LAMEA

7.5.1.Key market trends, growth factors, and opportunities
7.5.2.Market size and forecast, by propulsion
7.5.3.Market size and forecast, by vehicle type
7.5.4.Market size and forecast, by Range
7.5.5.Market analysis by country

7.5.5.1.Latin America

7.5.5.1.1.Market size and forecast, by propulsion
7.5.5.1.2.Market size and forecast, by vehicle type
7.5.5.1.3.Market size and forecast, by Range

7.5.5.2.Middle East

7.5.5.2.1.Market size and forecast, by propulsion
7.5.5.2.2.Market size and forecast, by vehicle type
7.5.5.2.3.Market size and forecast, by Range

7.5.5.3.Africa

7.5.5.3.1.Market size and forecast, by propulsion
7.5.5.3.2.Market size and forecast, by vehicle type
7.5.5.3.3.Market size and forecast, by Range

CHAPTER 8:COMPANY PROFILES

8.1.AB VOLVO

8.1.1.Company overview
8.1.2.Company snapshot
8.1.3.Operating business segments
8.1.4.Product portfolio
8.1.5.Business performance
8.1.6.Key strategic moves and developments

8.2.BYD Company Ltd.

8.2.1.Company overview
8.2.2.Company snapshot
8.2.3.Operating business segments
8.2.4.Product portfolio
8.2.5.Business performance
8.2.6.Key strategic moves and developments

8.3.DAIMLER AG

8.3.1.Company overview
8.3.2.Company snapshot
8.3.3.Operating business segments
8.3.4.Product portfolio
8.3.5.Business performance
8.3.6.Key strategic moves and developments

8.4.Dongfeng Motor Group Co., Ltd.

8.4.1.Company overview
8.4.2.Company snapshot
8.4.3.Operating business segments
8.4.4.Product portfolio
8.4.5.Business performance
8.4.6.Key strategic moves and developments

8.5.MAN SE

8.5.1.Company overview
8.5.2.Company snapshot
8.5.3.Operating business segments
8.5.4.Product portfolio
8.5.5.Business performance
8.5.6.Key strategic moves and developments

8.6.Rivian

8.6.1.Company overview
8.6.2.Company snapshot
8.6.3.Product portfolio
8.6.4.Key strategic moves and developments

8.7.SCANIA AB

8.7.1.Company overview
8.7.2.Company snapshot
8.7.3.Operating business segments
8.7.4.Business performance
8.7.5.Key strategic moves and developments

8.8.Tata Motors

8.8.1.Company overview
8.8.2.Company snapshot
8.8.3.Operating business segments
8.8.4.Product portfolio
8.8.5.Business performance
8.8.6.Key strategic moves and developments

8.9.TESLA

8.9.1.Company overview
8.9.2.Company snapshot
8.9.3.Operating business segments
8.9.4.Product portfolio
8.9.5.Business performance
8.9.6.Key strategic moves and developments

8.10.Workhorse

8.10.1.Company overview
8.10.2.Company snapshot
8.10.3.Operating business segments
8.10.4.Product portfolio
8.10.5.Business performance
8.10.6.Key strategic moves and developments

LIST OF TABLES

TABLE 01.GLOBAL ELECTRIC TRUCK MARKET, BY PROPULSION, 2019-2027($MILLION)
TABLE 02.ELECTRIC TRUCK MARKET REVENUE FOR BATTERY ELECTRIC TRUCK, BY REGION 2019-2027 ($MILLION)
TABLE 03.ELECTRIC TRUCK MARKET REVENUE FOR ELECTRIC POWERED , BY REGION 2019-2027 ($MILLION)
TABLE 04.ELECTRIC TRUCK MARKET REVENUE FOR BATTERY ELECTRIC TRUCK , BY REGION 2019-2027 ($MILLION)
TABLE 05.ELECTRIC TRUCK MARKET REVENUE FOR ELECTRIC POWERED , BY REGION 2019-2027 ($MILLION)
TABLE 06.GLOBAL ELECTRIC TRUCK MARKET, BY VEHICLE TYPE, 2019-2027($MILLION)
TABLE 07.ELECTRIC TRUCK MARKET REVENUE FOR LIGHT DUTY ELECTRIC TRUCK, BY REGION 2019-2027 ($MILLION)
TABLE 08.ELECTRIC TRUCK MARKET REVENUE FOR MEDIUM DUTY ELECTRIC TRUCK, BY REGION 2019-2027 ($MILLION)
TABLE 09.ELECTRIC TRUCK MARKET REVENUE FOR HEAVY DUTY ELECTRIC TRUCK, BY REGION 2019–2027 ($MILLION)
TABLE 10.GLOBAL ELECTRIC TRUCK MARKET, BY RANGE, 2019-2027($MILLION)
TABLE 11.ELECTRIC TRUCK MARKET REVENUE FOR 0-150 MILES, BY REGION 2019-2027 ($MILLION)
TABLE 12.ELECTRIC TRUCK MARKET REVENUE FOR 151-300 MILES, BY REGION 2019-2027 ($MILLION)
TABLE 13.ELECTRIC TRUCK MARKET REVENUE FOR 300 MILES ABOVE, BY REGION 2019–2027 ($MILLION)
TABLE 14.NORTH AMERICAN ELECTRIC TRUCK MARKET, BY PROPULSION, 2019–2027 ($MILLION)
TABLE 15.NORTH AMERICAN ELECTRIC TRUCK MARKET, BY VEHICLE TYPE, 2019–2027 ($MILLION)
TABLE 16.NORTH AMERICAN ELECTRIC TRUCK MARKET, BY RANGE, 2019–2027 ($MILLION)
TABLE 17.U. S. ELECTRIC TRUCK MARKET, BY PROPULSION, 2019–2027 ($MILLION)
TABLE 18.U. S. ELECTRIC TRUCK MARKET, BY VEHICLE TYPE, 2019–2027 ($MILLION)
TABLE 19.U. S. ELECTRIC TRUCK MARKET, BY RANGE, 2019–2027 ($MILLION)
TABLE 20.CANADA ELECTRIC TRUCK MARKET, BY PROPULSION, 2019–2027 ($MILLION)
TABLE 21.CANADA ELECTRIC TRUCK MARKET, BY VEHICLE TYPE, 2019–2027 ($MILLION)
TABLE 22.CANADA ELECTRIC TRUCK MARKET, BY RANGE, 2019–2027 ($MILLION)
TABLE 23.MEXICO ELECTRIC TRUCK MARKET, BY PROPULSION, 2019–2027 ($MILLION)
TABLE 24.MEXICO ELECTRIC TRUCK MARKET, BY VEHICLE TYPE, 2019–2027 ($MILLION)
TABLE 25.MEXICO ELECTRIC TRUCK MARKET, BY RANGE, 2019–2027 ($MILLION)
TABLE 26.EUROPEAN ELECTRIC TRUCK MARKET, BY PROPULSION, 2019–2027 ($MILLION)
TABLE 27.EUROPEAN ELECTRIC TRUCK MARKET, BY VEHICLE TYPE, 2019–2027 ($MILLION)
TABLE 28.EUROPEAN ELECTRIC TRUCK MARKET, BY RANGE, 2019–2027 ($MILLION)
TABLE 29.UKELECTRIC TRUCK MARKET, BY PROPULSION, 2019–2027 ($MILLION)
TABLE 30.UKELECTRIC TRUCK MARKET, BY VEHICLE TYPE, 2019–2027 ($MILLION)
TABLE 31.UKELECTRIC TRUCK MARKET, BY RANGE, 2019–2027 ($MILLION)
TABLE 32.GERMANY ELECTRIC TRUCK MARKET, BY PROPULSION, 2019–2027 ($MILLION)
TABLE 33.GERMANY ELECTRIC TRUCK MARKET, BY VEHICLE TYPE, 2019–2027 ($MILLION)
TABLE 34.GERMANY ELECTRIC TRUCK MARKET, BY RANGE, 2019–2027 ($MILLION)
TABLE 35.FRANCEELECTRIC TRUCK MARKET, BY PROPULSION, 2019–2027 ($MILLION)
TABLE 36.FRANCEELECTRIC TRUCK MARKET, BY VEHICLE TYPE, 2019–2027 ($MILLION)
TABLE 37.FRANCEELECTRIC TRUCK MARKET, BY RANGE, 2019–2027 ($MILLION)
TABLE 38.RUSSIAELECTRIC TRUCK MARKET, BYPROPULSION, 2019–2027 ($MILLION)
TABLE 39.RUSSIAELECTRIC TRUCK MARKET, BY VEHICLE TYPE, 2019–2027 ($MILLION)
TABLE 40.RUSSIAELECTRIC TRUCK MARKET, BY RANGE, 2019–2027 ($MILLION)
TABLE 41.REST OF EUROPE ELECTRIC TRUCK MARKET, BY PROPULSION, 2019–2027 ($MILLION)
TABLE 42.REST OF EUROPE ELECTRIC TRUCK MARKET, BY VEHICLE TYPE, 2019–2027 ($MILLION)
TABLE 43.REST OF EUROPE ELECTRIC TRUCK MARKET, BY RANGE, 2019–2027 ($MILLION)
TABLE 44.ASIA-PACIFIC ELECTRIC TRUCK MARKET, BY PROPULSION, 2019–2027 ($MILLION)
TABLE 45.ASIA-PACIFIC ELECTRIC TRUCK MARKET, BY VEHICLE TYPE, 2019–2027 ($MILLION)
TABLE 46.ASIA-PACIFIC ELECTRIC TRUCK MARKET, BY RANGE, 2019–2027 ($MILLION)
TABLE 47.CHINA ELECTRIC TRUCK MARKET, BY PROPULSION, 2019–2027 ($MILLION)
TABLE 48.CHINA ELECTRIC TRUCK MARKET, BY VEHICLE TYPE, 2019–2027 ($MILLION)
TABLE 49.CHINA ELECTRIC TRUCK MARKET, BY RANGE, 2019–2027 ($MILLION)
TABLE 50.JAPAN ELECTRIC TRUCK MARKET, BY PROPULSION, 2019–2027 ($MILLION)
TABLE 51.JAPAN ELECTRIC TRUCK MARKET, BY VEHICLE TYPE, 2019–2027 ($MILLION)
TABLE 52.JAPAN ELECTRIC TRUCK MARKET, BY RANGE, 2019–2027 ($MILLION)
TABLE 53.INDIAELECTRIC TRUCK MARKET, BYPROPULSION, 2019–2027 ($MILLION)
TABLE 54.INDIAELECTRIC TRUCK MARKET, BY VEHICLE TYPE, 2019–2027 ($MILLION)
TABLE 55.INDIAELECTRIC TRUCK MARKET, BY RANGE, 2019–2027 ($MILLION)
TABLE 56.SOUTH KOREAELECTRIC TRUCK MARKET, BY PROPULSION, 2019–2027 ($MILLION)
TABLE 57.SOUTH KOREAELECTRIC TRUCK MARKET, BY VEHICLE TYPE, 2019–2027 ($MILLION)
TABLE 58.SOUTH KOREAELECTRIC TRUCK MARKET, BY RANGE, 2019–2027 ($MILLION)
TABLE 59.REST OF ASIA-PACIFIC ELECTRIC TRUCK MARKET, BY PROPULSION, 2019–2027 ($MILLION)
TABLE 60.REST OF ASIA-PACIFIC ELECTRIC TRUCK MARKET, BY VEHICLE TYPE, 2019–2027 ($MILLION)
TABLE 61.REST OF ASIA-PACIFIC ELECTRIC TRUCK MARKET, BY RANGE, 2019–2027 ($MILLION)
TABLE 62.LAMEA ELECTRIC TRUCK MARKET, BY PROPULSION, 2019–2027 ($MILLION)
TABLE 63.LAMEA ELECTRIC TRUCK MARKET, BY VEHICLE TYPE, 2019–2027 ($MILLION)
TABLE 64.LAMEA ELECTRIC TRUCK MARKET, BY RANGE, 2019–2027 ($MILLION)
TABLE 65.LATIN AMERICA ELECTRIC TRUCK MARKET, BY PROPULSION, 2019–2027 ($MILLION)
TABLE 66.LATIN AMERICA ELECTRIC TRUCK MARKET, BY VEHICLE TYPE, 2019–2027 ($MILLION)
TABLE 67.LATIN AMERICA ELECTRIC TRUCK MARKET, BY RANGE, 2019–2027 ($MILLION)
TABLE 68.MIDDLE EAST ELECTRIC TRUCK MARKET, BY PROPULSION, 2019–2027 ($MILLION)
TABLE 69.MIDDLE EAST ELECTRIC TRUCK MARKET, BY VEHICLE TYPE, 2019–2027 ($MILLION)
TABLE 70.MIDDLE EAST ELECTRIC TRUCK MARKET, BY RANGE, 2019–2027 ($MILLION)
TABLE 71.AFRICA ELECTRIC TRUCK MARKET, BY PROPULSION, 2019–2027 ($MILLION)
TABLE 72.AFRICA ELECTRIC TRUCK MARKET, BY VEHICLE TYPE, 2019–2027 ($MILLION)
TABLE 73.AFRICA ELECTRIC TRUCK MARKET, BY RANGE, 2019–2027 ($MILLION)
TABLE 74.AB VOLVO: COMPANY SNAPSHOT
TABLE 75.AB VOLVO: OPERATING SEGMENTS
TABLE 76.AB VOLVO: PRODUCT PORTFOLIO
TABLE 77.AB VOLVO: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 78.BYD COMPANY LTD.: COMPANY SNAPSHOT
TABLE 79.BYD COMPANY LTD.: OPERATING SEGMENTS
TABLE 80.BYD COMPANY LTD.: PRODUCT PORTFOLIO
TABLE 81.BYD COMPANY LTD.: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 82.DAIMLER AG: COMPANY SNAPSHOT
TABLE 83.DAIMLER AG: OPERATING SEGMENTS
TABLE 84.DAIMLER AG: PRODUCT PORTFOLIO
TABLE 85.DAIMLER AG: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 86.DONGFENG MOTOR GROUP CO., LTD.: COMPANY SNAPSHOT
TABLE 87.DONGFENG MOTOR GROUP CO., LTD.: OPERATING SEGMENTS
TABLE 88.DONGFENG MOTOR GROUP CO., LTD.: PRODUCT PORTFOLIO
TABLE 89.DONGFENG MOTOR GROUP CO., LTD.: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 90.MAN SE: COMPANY SNAPSHOT
TABLE 91.MAN SE: OPERATING SEGMENTS
TABLE 92.MAN SE: PRODUCT PORTFOLIO
TABLE 93.MAN SE: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 94.PROTERRA: COMPANY SNAPSHOT
TABLE 95.RIVIAN: PRODUCT PORTFOLIO
TABLE 96.RIVIAN: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 97.SCANIA AB: COMPANY SNAPSHOT
TABLE 98.SCANIA AB: OPERATING SEGMENTS
TABLE 99.SCANIA AB: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 100.TATA MOTORS: COMPANY SNAPSHOT
TABLE 101.TATA MOTORS: OPERATING SEGMENTS
TABLE 102.TATA MOTORS: PRODUCT PORTFOLIO
TABLE 103.TATA MOTORS: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 104.TESLA: COMPANY SNAPSHOT
TABLE 105.TESLA: OPERATING SEGMENTS
TABLE 106.TESLA: PRODUCT PORTFOLIO
TABLE 107.TESLA: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 108.WORKHORSE: COMPANY SNAPSHOT
TABLE 109.WORKHORSE: OPERATING SEGMENTS
TABLE 110.WORKHORSE: PRODUCT PORTFOLIO
TABLE 111.WORKHORSE: KEY STRATEGIC MOVES AND DEVELOPMENTS

LIST OF FIGURES

FIGURE 01.KEY MARKET SEGMENTS
FIGURE 02.EXECUTIVE SUMMARY
FIGURE 03.EXECUTIVE SUMMARY
FIGURE 04.TOP IMPACTING FACTORS
FIGURE 05.TOP INVESTMENT POCKETS
FIGURE 06.TOP WINNING STRATEGIES, BY YEAR, 2017–2020*
FIGURE 07.TOP WINNING STRATEGIES, BY YEAR, 2017–2020*
FIGURE 08.TOP WINNING STRATEGIES, BY COMPANY, 2017–2020*
FIGURE 09.MODERATE-TO-HIGH BARGAINING POWER OF SUPPLIERS
FIGURE 10.MODERATE-TO-HIGH THREAT OF NEW ENTRANTS
FIGURE 11.MODERATE THREAT OF SUBSTITUTES
FIGURE 12.HIGH-TO-MODERATE INTENSITY OF RIVALRY
FIGURE 13.HIGH-TO-MODERATE BARGAINING POWER OF BUYERS
FIGURE 14.MARKET SHARE ANALYSIS (2019)
FIGURE 15.GLOBAL ELECTRIC TRUCK MARKET SHARE, BY PROPULSION, 2019–2027 (%)
FIGURE 16.COMPARATIVE SHARE ANALYSIS OFELECTRIC TRUCK MARKET FOR BATTERY ELECTRIC TRUCK , BY COUNTRY, 2019 & 2027 ($MILLION)
FIGURE 17.COMPARATIVE SHARE ANALYSIS OF ELECTRIC TRUCK MARKET FOR HYBRID ELECTRIC TRUCK , BY COUNTRY, 2019 & 2027 ($MILLION)
FIGURE 18.COMPARATIVE SHARE ANALYSIS OFELECTRIC TRUCK MARKET FOR BATTERY ELECTRIC TRUCK , BY COUNTRY, 2019 & 2027 ($MILLION)
FIGURE 19.COMPARATIVE SHARE ANALYSIS OF ELECTRIC TRUCK MARKET FOR ELECTRIC POWERED , BY COUNTRY, 2019 & 2027 ($MILLION)
FIGURE 20.GLOBAL ELECTRIC TRUCK MARKET SHARE, BY VEHICLE TYPE, 2019–2027 (%)
FIGURE 21.COMPARATIVE SHARE ANALYSIS OF ELECTRIC TRUCK MARKET FOR LIGHT DUTY ELECTRIC TRUCK, BY COUNTRY, 2019 & 2027 ($MILLION)
FIGURE 22.COMPARATIVE SHARE ANALYSIS OF ELECTRIC TRUCK MARKET FOR MEDIUM DUTY ELECTRIC TRUCK, BY COUNTRY, 2019 & 2027 ($MILLION)
FIGURE 23.COMPARATIVE SHARE ANALYSIS OF ELECTRIC TRUCK MARKET FOR HEAVY DUTY ELECTRIC TRUCK,BY COUNTRY, 2019 & 2027 ($MILLION)
FIGURE 24.GLOBAL ELECTRIC TRUCK MARKET SHARE, BY RANGE, 2019–2027 (%)
FIGURE 25.COMPARATIVE SHARE ANALYSIS OF ELECTRIC TRUCK MARKET FOR 0-150 MILES, BY COUNTRY, 2019 & 2027 ($MILLION)
FIGURE 26.COMPARATIVE SHARE ANALYSIS OF ELECTRIC TRUCK MARKET FOR 151-300 MILES, BY COUNTRY, 2019 & 2027 ($MILLION)
FIGURE 27.COMPARATIVE SHARE ANALYSIS OF ELECTRIC TRUCK MARKET FOR 300 MILES ABOVE, BY COUNTRY, 2019 & 2027 ($MILLION)
FIGURE 28.ELECTRIC TRUCK MARKET, BY REGION, 2019-2027 (%)
FIGURE 29.COMPARATIVE SHARE ANALYSIS OF ELECTRIC TRUCK MARKET, BY COUNTRY, 2019–2027 (%)
FIGURE 30.U. S. ELECTRIC TRUCK MARKET, 2019–2027 ($MILLION)
FIGURE 31.CANADA ELECTRIC TRUCK MARKET, 2019–2027 ($MILLION)
FIGURE 32.MEXICO ELECTRIC TRUCK MARKET, 2019–2027 ($MILLION)
FIGURE 33.COMPARATIVE SHARE ANALYSIS OF ELECTRIC TRUCK MARKET, BY COUNTRY, 2019–2027 (%)
FIGURE 34.UKELECTRIC TRUCK MARKET, 2019–2027 ($MILLION)
FIGURE 35.GERMANY ELECTRIC TRUCK MARKET, 2019–2027 ($MILLION)
FIGURE 36.FRANCEELECTRIC TRUCK MARKET, 2019–2027 ($MILLION)
FIGURE 37.RUSSIAELECTRIC TRUCK MARKET, 2019–2027 ($MILLION)
FIGURE 38.REST OF EUROPE ELECTRIC TRUCK MARKET, 2019–2027 ($MILLION)
FIGURE 39.COMPARATIVE SHARE ANALYSIS OF ELECTRIC TRUCK MARKET, BY COUNTRY, 2019–2027 (%)
FIGURE 40.CHINA ELECTRIC TRUCK MARKET, 2019–2027 ($MILLION)
FIGURE 41.JAPAN ELECTRIC TRUCK MARKET, 2019–2027 ($MILLION)
FIGURE 42.INDIAELECTRIC TRUCK MARKET, 2019–2027 ($MILLION)
FIGURE 43.SOUTH KOREAELECTRIC TRUCK MARKET, 2019–2027 ($MILLION)
FIGURE 44.REST OF ASIA-PACIFIC ELECTRIC TRUCK MARKET, 2019–2027 ($MILLION)
FIGURE 45.COMPARATIVE SHARE ANALYSIS OF ELECTRIC TRUCK MARKET, BY COUNTRY, 2019–2027 (%)
FIGURE 46.LATIN AMERICAELECTRIC TRUCK MARKET, 2019–2027 ($MILLION)
FIGURE 47.MIDDLE EAST ELECTRIC TRUCK MARKET, 2019–2027 ($MILLION)
FIGURE 48.AFRICA ELECTRIC TRUCK MARKET, 2019–2027 ($MILLION)
FIGURE 49.AB VOLVO: REVENUE, 2017–2019 ($MILLION)
FIGURE 50.AB VOLVO: REVENUE SHARE BY SEGMENT, 2019 (%)
FIGURE 51.AB VOLVO: REVENUE SHARE BY REGION, 2019 (%)
FIGURE 52.BYD COMPANY LTD.: REVENUE, 2017–2019 ($MILLION)
FIGURE 53.BYD COMPANY LTD.: REVENUE SHARE BY SEGMENT, 2019 (%)
FIGURE 54.BYD COMPANY LTD.: REVENUE SHARE BY REGION, 2019 (%)
FIGURE 55.DAIMLER AG: REVENUE, 2017–2019 ($MILLION)
FIGURE 56.DAIMLER AG: REVENUE SHARE BY SEGMENT, 2019 (%)
FIGURE 57.DAIMLER AG: REVENUE SHARE BY REGION, 2019 (%)
FIGURE 58.DONGFENG MOTOR GROUP CO., LTD.: REVENUE, 2017–2019 ($MILLION)
FIGURE 59.DONGFENG MOTOR GROUP CO., LTD.: REVENUE SHARE BY SEGMENT, 2019 (%)
FIGURE 60.MAN SE: REVENUE, 2017–2019 ($MILLION)
FIGURE 61.MAN SE: REVENUE SHARE BY SEGMENT, 2019 (%)
FIGURE 62.MAN SE: REVENUE SHARE BY REGION, 2019 (%)
FIGURE 63.SCANIA AB: REVENUE, 2017–2019 ($MILLION)
FIGURE 64.SCANIA AB: REVENUE SHARE BY SEGMENT, 2019 (%)
FIGURE 65.SCANIA AB: REVENUE SHARE BY REGION, 2019 (%)
FIGURE 66.TATA MOTORS: REVENUE, 2017–2019 ($MILLION)
FIGURE 67.TATA MOTORS: REVENUE SHARE BY SEGMENT, 2019 (%)
FIGURE 68.TATA MOTORS: REVENUE SHARE BY REGION, 2019 (%)
FIGURE 69.TESLA: REVENUE, 2017–2019 ($MILLION)
FIGURE 70.TESLA: REVENUE SHARE BY SEGMENT, 2019 (%)
FIGURE 71.TESLA: REVENUE SHARE BY REGION, 2019 (%)
FIGURE 72.WORKHORSE: REVENUE, 2017–2019 ($MILLION)
FIGURE 73.WORKHORSE: REVENUE SHARE BY SEGMENT, 2019 (%)

 
 

According to the insights of CXOs of leading companies, the global electric truck market is expected to grow at a remarkable rate in the future, owing to advantages of electric trucks such as lower maintenance cost, zero emission of greenhouse gases, and noise free & efficient operation.

Factors such as increasing government initiatives for promotion of e-mobility and stringent emission norms imposed on fossil-fuel powered vehicles are driving the growth of the electric truck market. However, lack of charging infrastructure and high cost of electric trucks are expected to hinder the growth of the market during the forecast period. Further, rising demand for electric trucks from the logistics sector is anticipated to provide remarkable growth opportunity for the companies operating in the electric truck market.

Among the analyzed regions, Asia-Pacific is expected to account for the highest revenue in the global market throughout the forecast period, followed by Europe, North America, and LAMEA. Moreover, LAMEA is expected to witness the highest growth rate, owing to government regulations related to emission. 
 

 

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FREQUENTLY ASKED QUESTIONS?
 

A. Measures such as closing factories, dealerships, offices, resulting dismissal of short time workers, and fear of recession that are politically enforced in order to contain the virus are anticipated to lead to a significant decline in sales of new vehicles. These factors are anticipated to significantly impact the electric truck market.

A. The global electric truck market was valued at $422.5 million in 2019, and is projected to reach $1,893.1 million by 2027, registering a CAGR of 25.8% from 2020 to 2027.

A. The sample for electric truck market report can be obtained on demand from the website.

A. AB VOLVO, BYD Company Ltd., DAIMLER AG, Dongfeng Motor Group Co., Ltd., MAN SE, Rivian, SCANIA AB, Tata Motors, Tesla, Workhorse, and others are the leading players in the electric truck market.

A. The company profiles of the top market players of electric truck market can be obtained from the company profile section mentioned in the report. This section includes analysis of top ten player’s operating in the industry as well as their last three-year revenue, segmental revenue, product offerings, key strategies adopted, and geographical revenue generated.

A. Based on region, currently Asia-Pacific is generating remarkable revenue in the market. However, LAMEA is anticipated to hold remarkable growth opportunities for the players operating in the market.

A. The service providers such as AB VOLVO, BYD Company Ltd., DAIMLER AG, Dongfeng Motor Group Co., Ltd., MAN SE, Rivian, SCANIA AB, Tata Motors, Tesla, Workhorse, and others are included in electric truck industry.

A. The key growth strategies of the electric truck industry players includes product launch, product development, agreement, and others.

A. Agreement, partnership, collabaration, and others are the new competitive developments adopted by the players operating in the electric truck market.

 

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