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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 - G

Publisher 360iResearch
Published Jan 15, 2024
Length 181 Pages
SKU # IRE18443107

Description

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 2024-2030


The Electric Trucks Market size was estimated at USD 17.78 billion in 2023 and expected to reach USD 22.32 billion in 2024, at a CAGR 27.28% to reach USD 96.27 billion by 2030.

Electric trucks are charged by an electric motor that draws electricity from a battery and can be powered from an external source. Electric trucks transport cargo, carry specialized payloads, or perform utilitarian work. Governments worldwide are taking initiatives to encourage the adoption of e-mobility solutions, including electric trucks, to reduce the use of conventional trucks that contribute to harmful GHG emissions. The increasing focus of nations worldwide to expand the EV charging infrastructure encourages the adoption of electric trucks. However, high manufacturing and maintenance costs and longer charging times of electric trucks may limit end-user adoption. Moreover, the improvements in lithium power ion batteries and the integration of advanced technologies in electric trucks are expected to accelerate their use worldwide.

Regional Insights

The adoption of electric trucks is growing in the Americas owing to new government initiatives to achieve net-zero emissions and ongoing activities to expand the electric vehicle charging infrastructure. For instance, in February 2023, the U.S. government announced plans to build a national network of 500,000 electric vehicle chargers along America’s highways. The governments in the region have announced plans to reduce greenhouse gas (GHG) emissions by 2030 and reach net-zero emissions by 2050, which is expected to boost the adoption of electric trucks in the EMEA region. The electric trucks in APAC are expected to grow rapidly owing to rising fuel consumption, air pollution, and greenhouse gas emissions. Additionally, the ongoing advancements in electric trucks integrated with cutting-edge technologies to improve driver safety are expected to create immense potential for adopting electric trucks worldwide.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Electric Trucks Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Electric Trucks Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

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..

Market Segmentation & Coverage

This research report categorizes the Electric Trucks Market to forecast the revenues and analyze trends in each of the following sub-markets:

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
151-300 Miles

Above 300 Miles

Upto 150 Miles
Automation
Level 0 (No Driving Automation)

Level 1 (Driver Assistance)

Level 2 (Partial Driving Automation)

Level 3 (Conditional Driving Automation)

Level 4 (High Driving Automation)

Level 5 (Full Driving Automation)
End-Use
Distribution Services

Field Services

Last Mile Delivery

Long Haul Transportation

Refuse Services
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas

Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam

Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.
2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Electric Trucks Market?
2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Electric Trucks Market?
3. What are the technology trends and regulatory frameworks in the Electric Trucks Market?
4. What is the market share of the leading vendors in the Electric Trucks Market?
5. Which modes and strategic moves are suitable for entering the Electric Trucks Market?PDF E-mail From Publisher (2-5)Users License

Table of Contents

181 Pages
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 High Inflation
5.5. Porter’s Five Forces Analysis
5.5.1. Threat of New Entrants
5.5.2. Threat of Substitutes
5.5.3. Bargaining Power of Customers
5.5.4. Bargaining Power of Suppliers
5.5.5. Industry Rivalry
5.6. Value Chain & Critical Path Analysis
5.7. Regulatory Framework
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
FIGURE 1. ELECTRIC TRUCKS MARKET RESEARCH PROCESS
FIGURE 2. ELECTRIC TRUCKS MARKET SIZE, 2023 VS 2030
FIGURE 3. ELECTRIC TRUCKS MARKET SIZE, 2018-2030 (USD MILLION)
FIGURE 4. ELECTRIC TRUCKS MARKET SIZE, BY REGION, 2023 VS 2030 (%)
FIGURE 5. ELECTRIC TRUCKS MARKET SIZE, BY REGION, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 6. ELECTRIC TRUCKS MARKET DYNAMICS
FIGURE 7. ELECTRIC TRUCKS MARKET SIZE, BY PROPULSION TYPE, 2023 VS 2030 (%)
FIGURE 8. ELECTRIC TRUCKS MARKET SIZE, BY PROPULSION TYPE, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 9. ELECTRIC TRUCKS MARKET SIZE, BY VEHICLE TYPE, 2023 VS 2030 (%)
FIGURE 10. ELECTRIC TRUCKS MARKET SIZE, BY VEHICLE TYPE, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 11. ELECTRIC TRUCKS MARKET SIZE, BY RANGE, 2023 VS 2030 (%)
FIGURE 12. ELECTRIC TRUCKS MARKET SIZE, BY RANGE, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 13. ELECTRIC TRUCKS MARKET SIZE, BY AUTOMATION, 2023 VS 2030 (%)
FIGURE 14. ELECTRIC TRUCKS MARKET SIZE, BY AUTOMATION, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 15. ELECTRIC TRUCKS MARKET SIZE, BY END-USE, 2023 VS 2030 (%)
FIGURE 16. ELECTRIC TRUCKS MARKET SIZE, BY END-USE, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 17. AMERICAS ELECTRIC TRUCKS MARKET SIZE, BY COUNTRY, 2023 VS 2030 (%)
FIGURE 18. AMERICAS ELECTRIC TRUCKS MARKET SIZE, BY COUNTRY, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 19. UNITED STATES ELECTRIC TRUCKS MARKET SIZE, BY STATE, 2023 VS 2030 (%)
FIGURE 20. UNITED STATES ELECTRIC TRUCKS MARKET SIZE, BY STATE, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 21. ASIA-PACIFIC ELECTRIC TRUCKS MARKET SIZE, BY COUNTRY, 2023 VS 2030 (%)
FIGURE 22. ASIA-PACIFIC ELECTRIC TRUCKS MARKET SIZE, BY COUNTRY, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 23. EUROPE, MIDDLE EAST & AFRICA ELECTRIC TRUCKS MARKET SIZE, BY COUNTRY, 2023 VS 2030 (%)
FIGURE 24. EUROPE, MIDDLE EAST & AFRICA ELECTRIC TRUCKS MARKET SIZE, BY COUNTRY, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 25. ELECTRIC TRUCKS MARKET, FPNV POSITIONING MATRIX, 2023
FIGURE 26. ELECTRIC TRUCKS MARKET SHARE, BY KEY PLAYER, 2023

Pricing

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