Global Electric Truck Market Size & Share to 2027

Global Electric Truck Market Size & Share to 2027

Global Electric Truck Market Size, Trends & Growth Opportunity, By Truck Type (Light-Duty Truck, Medium-Duty Truck, and Heavy-Duty Truck) By Electric Propulsion Type (Plug-in Hybrid, Fuel Cell Electric, and Battery Electric), By Application (Logistics, Municipal, Construction, Mining, and Others), By Region and Forecast till 2027

Global Electric Truck Market

Electric truck is an electric mobility which is powered by an electric motor, or a truck which receives power or energy primarily from the power grid. They are low or zero emission trucks, which contributes significantly towards a greener environment. Electric trucks are alternative to conventional fossil fuel trucks. However, they are heavier than traditional trucks owing to the weight of batteries.

Market Drivers

Increase in transportation emission caused by fossil fuel powered vehicles coupled with a surge in pollution levels especially in urban areas. It is key driving factor which expected to boost the global electric truck market growth. Furthermore, increase in demand for electric trucks in logistic industry which is expected to positively contribute the market growth. Logistics industry is one of the important contributors to any country’s GDP, as increase in internet penetration and demand for e-commerce may require logistics providers deliver to remote locations in the emerging economies. As the increase in demand for green transportation across the globe and many government are backing are backing this initiatives, freight transportation, which contributes highly carbon dioxide emissions, has been observing a reduction. Many logistics companies are actively participating in replacing their fleet with greener vehicles. For instance, in February 2020, CEVA logistics in UK had started trails using electric lorries/trucks for supplying products in Central London.

Market Restraints

However, lack of charging infrastructure is the major challenging factor which is expected to hinder the global electric truck market growth. For adequate charging infrastructure proper planning and installation is needed and which would require huge investments. It is expected to obstruct the electric truck market growth during this forecast period.

Market Segmentation

Global Electric Truck Market is segmented into truck type such as Light-Duty Truck, Medium-Duty Truck, and Heavy-Duty Truck, by electric propulsion type such as Plug-in Hybrid, Fuel Cell Electric, and Battery Electric. Further, market is segmented into application such as Logistics, Municipal, Construction, Mining, and Others.

Also, Global Electric Truck Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

Market Key Players

Various key players are discussed in this report such as Bosch, Denso, CEVA Logistics, Johnson Control, Hitachi Automotive Systems, Magna, Infineon, Eaton, and Siemens.

Market Taxonomy

By Truck Type

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

By Electric Propulsion Type

• Plug-in Hybrid
• Fuel Cell Electric
• Battery Electric

By Application

• Logistics
• Municipal
• Construction
• Mining
• Others

By Region

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa

Key Questions Addressed by the Report

• What are the Key Opportunities in Global Electric Truck Market?
• What will be the growth rate from 2019 to 2027?
• Which segment/region will have highest growth?
• What are the factors that will impact/drive the Market?
• What is the competitive Landscape in the Industry?
• What is the role of key players in the value chain?
• What are the strategies adopted by key players?

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