Electric Truck Market: size was valued at US$ 2.46 Bn. in 2022 and the total revenue is expected to grow at 28.1% CAGR through 2023 to 2029, reaching nearly US$ 13.93 Bn.
Electric Truck Market Overview:
Maximize Market Research (MMR) published a report on the Electric Truck market. The report is a comprehensive analysis of the Electric Truck market, based on primary and secondary data. It provides a detailed analysis of the market size and share in each region and segment, making it an investor’s guide.
For detail insights on this market, request for methodology here@ https://www.maximizemarketresearch.com/request-sample/24408
Electric Truck Market Dynamics:
Over the past ten years, the price of EV batteries has reduced due to technological improvements and the mass production of EV batteries. As EV batteries are one of the more expensive components of an electric truck, this has caused the price of electric trucks to plummet. For instance, in 2010 an electric vehicle battery cost approximately USD 1,100 per kWh. Bloomberg estimates that by 2022, their price will have decreased to about USD 137 per kWh, whereas it is just USD 100 per kWh in China.
This is brought on by, among other things, increased production volumes, cheaper cathode material costs, and lower battery manufacturing costs. A study on Research Gate claims that trucks would have comparable prices.
Electric Truck Market Report Scope and Research Methodology:
The report provides an in-depth analysis of the Electric Truck market at the global, regional, and country levels. It also provides a comprehensive analysis of the competitive landscape of the Electric Truck industry, including the business strategies adopted by the key players. The report includes a list of Electric Truck key competitors, along with their revenue, production capacity, sales, and global presence. SWOT analysis was used to identify the strengths and weaknesses of the key players in the Electric Truck industry. Detailed information on the Electric Truck market dynamics, including drivers, restraints, opportunities, and challenges, is also provided in the report. The bottom-up approach was used to estimate the global and regional Electric Truck market size. Both primary and secondary research methods were used to gather data on market size, market share, regional insights, market dynamics, the performance of key players, and historical data of the industry. The report also includes a detailed value chain analysis, which helps to understand the manufacturing process of Electric Truck, with information on raw materials, customers, and distributors. Additionally, the report includes PORTER, PESTLE analysis, and market attractiveness, which help to understand the Electric Truck market at both macro and micro levels.
Electric Truck Market Regional Insights:
Geographically, the report is segmented into several key countries, including:
North America: the United States, Canada, and Mexico
Europe: the United Kingdom, Germany, France, Spain, Italy, and the rest of Europe
Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN countries, and the rest of Asia Pacific
South America: Brazil
Middle East and Africa
Electric Truck Market Segmentation:
by Type
Battery Electric Trucks
Hybrid Trucks
The Electric Truck market is divided into Battery Electric Trucks and Hybrid Trucks depending on type and equipment. The sector of battery electric trucks accounted for the largest revenue share of 84.76% in 2019 and is anticipated to maintain its leadership throughout the projected period. Due to improving battery life and energy density as well as a decline in battery prices, the market for this segment is expected to grow at a rapid CAGR during the forecast period. Additionally, escalating government rules mandating zero-emission automobiles will encourage category growth. For instance, the European Union has established legislation requiring a minimum 40% reduction in emissions by 2030. The EU has set a target to reduce emissions by nearly 60% by 2040.
by Application
Logistics
Municipal
Construction
Mining
Others
Electric truck market is divided into Logistics, Municipal, Construction, Mining, and Others based on application. The logistics sector has historically held the largest market share and will do so during the anticipated timeframe. The Peterbilt Model 220EV, which will have a range of up to 200 miles, will go on sale soon, according to a recent announcement by Peterbilt and Dana. The automobile should start production in the latter half of 2022. Additionally competing, Navistar is providing a medium-duty electric vehicle under its global brand. The production manager has promised a battery capacity of 312 kWh, a single-charge range of 250 miles, and the conclusion of production by early 2022.
by Propulsion
Battery Electric Truck
Hybrid Electric Truck
Plug-in Hybrid electric Truck
Fuel cell electric Truck
by Level of Automation
Semi-Autonomous
Autonomous
Battery type
For detail insights on this market, request for methodology here@ https://www.maximizemarketresearch.com/request-sample/24408
Electric Truck Market Key Players:
1.AB Volvo
2.BYD Auto Co. Ltd
3.Daimler AG
4.Dongfeng Motor Corporation
5.FAW Group Co., Ltd.
6.Foton Motor Inc.
7.Isuzu Motors Ltd
8.Navistar, Inc.
9.PACCAR Inc.
10.Scania
11.Tevva Motors Limited
12.Tesla
13.Rivian
14.Ford
15.GM
16.Workhorse
17.Atlis
18.Lordstown
19.Bollinger
20.Volkswagen AG
21.Hino Motors Ltd.
22.Chanje Energy Inc.
23.Orange EV
24.Mitsubishi Fuso Truck & Bus Corp.
25. Nikola Motor Co.
26.Fiat Chrysler Automobiles N.V.
For any Queries Linked with the Report, Ask an Analyst@ https://www.maximizemarketresearch.com/market-report/global-electric-truck-market/24408/
Key Questions answered in the Electric Truck Market Report are:
- What is the expected Electric Truck market size by 2029?
- What will be the CAGR of the Electric Truck market during the forecast period?
- What are the Electric Truck market segments?
- Which segment held the largest share in the Electric Truck market?
- How is the competitive scenario of the Electric Truck market?
- Which are the key factors driving the Electric Truck market growth?
- What are the key factors restraining the Electric Truck market?
- Which region holds the maximum share in the Electric Truck market?
- Who are the key players in the Electric Truck industry?
Key Offerings:
- Market Overview
- Market Share
- Market Size
- Forecast |2023-2029
- Market Dynamics- Growth drivers, Restraints, Investment Opportunities, and key trends
- Market Segmentation- A detailed analysis of each segment and their segments
- Competitive Landscape – Leading key players and other prominent key players.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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