Electric Trucks Market by Propulsion Type (Battery Electric Vehicle, Hybrid Electric Vehicle, Plug-in Hybrid Electric Vehicle), Vehicle Type (Heavy-Duty Electric Truck, Light-Duty Electric Truck, Medium-Duty Electric Truck), Range, Automation, End-Use - Global Forecast 2023-2030
The Electric Trucks Market size was estimated at USD 14.26 billion in 2022 and expected to reach USD 17.78 billion in 2023, at a CAGR 26.95% to reach USD 96.27 billion by 2030 .
Market Segmentation & Coverage:
This research report analyzes various sub-markets, forecasts revenues, and examines emerging trends in each category to provide a comprehensive outlook on the Electric Trucks Market.
- Based on Propulsion Type, market is studied across Battery Electric Vehicle, Hybrid Electric Vehicle, and Plug-in Hybrid Electric Vehicle. The Battery Electric Vehicle commanded largest market share of 39.32% in 2022, followed by Hybrid Electric Vehicle.
- Based on Vehicle Type, market is studied across Heavy-Duty Electric Truck, Light-Duty Electric Truck, and Medium-Duty Electric Truck. The Light-Duty Electric Truck commanded largest market share of 38.54% in 2022, followed by Medium-Duty Electric Truck.
- Based on Range, market is studied across 151-300 Miles, Above 300 Miles, and Upto 150 Miles. The 151-300 Miles commanded largest market share of 38.21% in 2022, followed by Above 300 Miles.
- Based on Automation, market is studied across Level 0 (No Driving Automation), Level 1 (Driver Assistance), Level 2 (Partial Driving Automation), Level 3 (Conditional Driving Automation), Level 4 (High Driving Automation), and Level 5 (Full Driving Automation). The Level 2 (Partial Driving Automation) commanded largest market share of 41.34% in 2022, followed by Level 1 (Driver Assistance).
- Based on End-Use, market is studied across Distribution Services, Field Services, Last Mile Delivery, Long Haul Transportation, and Refuse Services. The Last Mile Delivery commanded largest market share of 26.32% in 2022, followed by Distribution Services.
- Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Asia-Pacific commanded largest market share of 39.65% in 2022, followed by Europe, Middle East & Africa.
The report provides market sizing and forecasts across 7 major currencies - USD, EUR, JPY, GBP, AUD, CAD, and CHF; multiple currency support helps organization leaders to make well-informed decisions. In this report, 2018 to 2021 are considered as historical years, 2022 is base year, 2023 is estimated year, and years from 2024 to 2030 are considered as forecast period.
FPNV Positioning Matrix:
The FPNV Positioning Matrix is an indispensable tool for assessing the Electric Trucks Market. It comprehensively evaluates vendors, analyzing key metrics related to Business Strategy and Product Satisfaction. This enables users to make informed decisions tailored to their specific needs. Through advanced analysis, vendors are categorized into four distinct quadrants, each representing a different level of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V). Be assured that this insightful framework empowers decision-makers to navigate the market with confidence.
Market Share Analysis:
The Market Share Analysis offers invaluable insights into the vendor landscape Electric Trucks Market. By evaluating their impact on overall revenue, customer base, and other key metrics, we provide companies with a comprehensive understanding of their performance and the competitive environment they confront. This analysis also uncovers the level of competition in terms of market share acquisition, fragmentation, dominance, and industry consolidation during the study period.
Key Company Profiles:
The report delves into recent significant developments in the Electric Trucks Market, highlighting leading vendors and their innovative profiles. These include AB Volvo, Alkè s.r.l., BAIC Foton Motor Co., Ltd, Bollinger Motors, Inc., BYD Motors Inc., DAF Trucks N.V., Daimler Truck AG, Dongfeng Commercial Vehicles Co., Ltd., Epiroc Group, FCA US LLC, Ford Motor Company, General Motors, HW ELECTRO Co., Ltd., Isuzu Motors Ltd., Iveco S.p.A., JAC Motors, Lion Electric Company, Mack Trucks, Inc., Mercedes-Benz Group AG, Mitsubishi Fuso Truck and Bus Corporation, Navistar, Inc., Nikola Corporation, Nissan Motor Co., Ltd., Orange EV, Paccar Inc, Proterra Inc., Riviann LLC, Scania CV AB, SEA Electric Group, Tata Motors Limited, Tesla, Inc., Tevva Motors Limited, Toyota Motor Corporation, Volkswagen AG, Volta Trucks AB, Workhorse Group, Inc., and Xos, Inc..
The report offers valuable insights on the following aspects:
- Market Penetration: It provides comprehensive information about key players' market dynamics and offerings.
- Market Development: In-depth analysis of emerging markets and penetration across mature market segments, highlighting lucrative opportunities.
- Market Diversification: Detailed information about new product launches, untapped geographies, recent developments, and investments.
- Competitive Assessment & Intelligence: Exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of leading players.
- Product Development & Innovation: Intelligent insights on future technologies, R&D activities, and breakthrough product developments.
- What is the market size and forecast for the Electric Trucks Market?
- Which products, segments, applications, and areas hold the highest investment potential in the Electric Trucks Market?
- What is the competitive strategic window for identifying opportunities in the Electric Trucks Market?
- What are the latest technology trends and regulatory frameworks in the Electric Trucks Market?
- What is the market share of the leading vendors in the Electric Trucks Market?
- Which modes and strategic moves are suitable for entering the Electric Trucks Market?
Note: PDF & Excel + Online Access - 1 Year
- 1. Preface
- 1.1. Objectives of the Study
- 1.2. Market Segmentation & Coverage
- 1.3. Years Considered for the Study
- 1.4. Currency & Pricing
- 1.5. Language
- 1.6. Limitations
- 1.7. Assumptions
- 1.8. Stakeholders
- 2. Research Methodology
- 2.1. Define: Research Objective
- 2.2. Determine: Research Design
- 2.3. Prepare: Research Instrument
- 2.4. Collect: Data Source
- 2.5. Analyze: Data Interpretation
- 2.6. Formulate: Data Verification
- 2.7. Publish: Research Report
- 2.8. Repeat: Report Update
- 3. Executive Summary
- 4. Market Overview
- 4.1. Introduction
- 4.2. Electric Trucks Market, by Region
- 5. Market Insights
- 5.1. Market Dynamics
- 5.1.1. Drivers
- 5.1.1.1. Increasing government regulations to promote e-mobility to reduce gas emissions
- 5.1.1.2. Inclination towards electric trucks owing to its advantages over the fuel trucks
- 5.1.1.3. Growing focus to expand electric vehicle charging infrastructure
- 5.1.2. Restraints
- 5.1.2.1. High manufacturing and maintenance cost associated with electric trucks
- 5.1.3. Opportunities
- 5.1.3.1. Ongoing development of improved high power lithium ion batteries coupled with integration in electric trucks
- 5.1.3.2. Increasing investment in self driving technology in electric trucks to improve driver safety
- 5.1.4. Challenges
- 5.1.4.1. Longer charging times issues with electric trucks
- 5.2. Market Segmentation Analysis
- 5.3. Market Trend Analysis
- 5.4. Cumulative Impact of COVID-19
- 5.5. Cumulative Impact of Russia-Ukraine Conflict
- 5.6. Cumulative Impact of High Inflation
- 5.7. Porter’s Five Forces Analysis
- 5.7.1. Threat of New Entrants
- 5.7.2. Threat of Substitutes
- 5.7.3. Bargaining Power of Customers
- 5.7.4. Bargaining Power of Suppliers
- 5.7.5. Industry Rivalry
- 5.8. Value Chain & Critical Path Analysis
- 5.9. Regulatory Framework
- 5.10. Client Customization
- 6. Electric Trucks Market, by Propulsion Type
- 6.1. Introduction
- 6.2. Battery Electric Vehicle
- 6.3. Hybrid Electric Vehicle
- 6.4. Plug-in Hybrid Electric Vehicle
- 7. Electric Trucks Market, by Vehicle Type
- 7.1. Introduction
- 7.2. Heavy-Duty Electric Truck
- 7.3. Light-Duty Electric Truck
- 7.4. Medium-Duty Electric Truck
- 8. Electric Trucks Market, by Range
- 8.1. Introduction
- 8.2. 151-300 Miles
- 8.3. Above 300 Miles
- 8.4. Upto 150 Miles
- 9. Electric Trucks Market, by Automation
- 9.1. Introduction
- 9.2. Level 0 (No Driving Automation)
- 9.3. Level 1 (Driver Assistance)
- 9.4. Level 2 (Partial Driving Automation)
- 9.5. Level 3 (Conditional Driving Automation)
- 9.6. Level 4 (High Driving Automation)
- 9.7. Level 5 (Full Driving Automation)
- 10. Electric Trucks Market, by End-Use
- 10.1. Introduction
- 10.2. Distribution Services
- 10.3. Field Services
- 10.4. Last Mile Delivery
- 10.5. Long Haul Transportation
- 10.6. Refuse Services
- 11. Americas Electric Trucks Market
- 11.1. Introduction
- 11.2. Argentina
- 11.3. Brazil
- 11.4. Canada
- 11.5. Mexico
- 11.6. United States
- 12. Asia-Pacific Electric Trucks Market
- 12.1. Introduction
- 12.2. Australia
- 12.3. China
- 12.4. India
- 12.5. Indonesia
- 12.6. Japan
- 12.7. Malaysia
- 12.8. Philippines
- 12.9. Singapore
- 12.10. South Korea
- 12.11. Taiwan
- 12.12. Thailand
- 12.13. Vietnam
- 13. Europe, Middle East & Africa Electric Trucks Market
- 13.1. Introduction
- 13.2. Denmark
- 13.3. Egypt
- 13.4. Finland
- 13.5. France
- 13.6. Germany
- 13.7. Israel
- 13.8. Italy
- 13.9. Netherlands
- 13.10. Nigeria
- 13.11. Norway
- 13.12. Poland
- 13.13. Qatar
- 13.14. Russia
- 13.15. Saudi Arabia
- 13.16. South Africa
- 13.17. Spain
- 13.18. Sweden
- 13.19. Switzerland
- 13.20. Turkey
- 13.21. United Arab Emirates
- 13.22. United Kingdom
- 14. Competitive Landscape
- 14.1. FPNV Positioning Matrix
- 14.2. Market Share Analysis, By Key Player
- 14.3. Competitive Scenario Analysis, By Key Player
- 14.3.1. Merger & Acquisition
- 14.3.1.1. Murugappa Group to acquire a majority stake in an electric truck maker for INR 246 Crores
- 14.3.1.2. Lordstown Motors factory sale to Foxconn closes
- 14.3.2. Agreement, Collaboration, & Partnership
- 14.3.2.1. Tevva Inks Lithium-ion Battery Management Partnership for its Electric Trucks
- 14.3.2.2. Maersk to deploy 300 electric trucks in partnership with Einride
- 14.3.3. New Product Launch & Enhancement
- 14.3.3.1. Mack Trucks launches its first medium-duty electric truck
- 14.3.3.2. LION ANNOUNCES LAUNCH OF THE LION5 MEDIUM-DUTY ALL-ELECTRIC TRUCK
- 14.3.4. Investment & Funding
- 14.3.4.1. Ares to Invest Up to USD 250 Million in “Electric Trucks-as-a-Service” Provider Current Trucking
- 14.3.4.2. Amazon to invest over EUR 1 billion in electric vans, truck fleet across Europe
- 14.3.5. Award, Recognition, & Expansion
- 14.3.5.1. Einride brings its electric trucks to UK freight sector in partnership with PepsiCo
- 14.3.5.2. Tesla confirms Nevada expansion to make more electric trucks
- 15. Competitive Portfolio
- 15.1. Key Company Profiles
- 15.1.1. AB Volvo
- 15.1.2. Alkè s.r.l.
- 15.1.3. BAIC Foton Motor Co., Ltd
- 15.1.4. Bollinger Motors, Inc.
- 15.1.5. BYD Motors Inc.
- 15.1.6. DAF Trucks N.V.
- 15.1.7. Daimler Truck AG
- 15.1.8. Dongfeng Commercial Vehicles Co., Ltd.
- 15.1.9. Epiroc Group
- 15.1.10. FCA US LLC
- 15.1.11. Ford Motor Company
- 15.1.12. General Motors
- 15.1.13. HW ELECTRO Co., Ltd.
- 15.1.14. Isuzu Motors Ltd.
- 15.1.15. Iveco S.p.A.
- 15.1.16. JAC Motors
- 15.1.17. Lion Electric Company
- 15.1.18. Mack Trucks, Inc.
- 15.1.19. Mercedes-Benz Group AG
- 15.1.20. Mitsubishi Fuso Truck and Bus Corporation
- 15.1.21. Navistar, Inc.
- 15.1.22. Nikola Corporation
- 15.1.23. Nissan Motor Co., Ltd.
- 15.1.24. Orange EV
- 15.1.25. Paccar Inc
- 15.1.26. Proterra Inc.
- 15.1.27. Riviann LLC
- 15.1.28. Scania CV AB
- 15.1.29. SEA Electric Group
- 15.1.30. Tata Motors Limited
- 15.1.31. Tesla, Inc.
- 15.1.32. Tevva Motors Limited
- 15.1.33. Toyota Motor Corporation
- 15.1.34. Volkswagen AG
- 15.1.35. Volta Trucks AB
- 15.1.36. Workhorse Group, Inc.
- 15.1.37. Xos, Inc.
- 15.2. Key Product Portfolio
- 16. Appendix
- 16.1. Discussion Guide
- 16.2. License & Pricing
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