Global Electric Truck Market size was valued at US$ 1.92 Bn. in 2021 and the total revenue is expected to grow at 28.1% CAGR through 2021 to 2029, reaching nearly US$ 13.93 Bn.
Electric Truck Market Overview
The Electric Truck Market’s drivers, restraints, technical advancements, product developments, market opportunities, restrictions, growth strategies, and market prospects, as well as the forecast period, has been covered in the report in detail. The report offers an in-depth look at the Electric Truck industry, including key figures such as Electric Truck market size, market share, revenue growth, and CAGR for the forecast period (2020 to 2029).
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Electric Truck Market Report Scope and Research Methodology
The Electric Truck market report covers the competitive landscape, recent development trends, and the growth status of key regions. It provides the market size, percentage share and product cost of the Electric Truck industry with the growth aspects of various industry sectors and predicts the growth rate forecast from 2021 to 2029. The Electric Truck market report includes information on value & volume based of various segments and their sub-segments. A detailed global Electric Truck market overview including market valuation, profits estimates, and market statistics is integral to the report. The report aims to help clients understand the competitive spectrum of the Electric Truck market. The competitive landscape in the report includes the progress of major players based on crucial parameters, including Electric Truck market share, new developments, global reach, local competition, production, and price. The report provides an in-depth analysis of the competition in the global Electric Truck market. SWOT analysis was conducted to provide the strengths and weaknesses of the Electric Truck market while the bottom-up approach was used to estimate the market size (global and regional markets).
Electric Truck Market Regional Insights
The study includes a region-wise detailed analysis of the Electric Truck market. It demonstrates how the most significant regional divides, such as North America, Asia Pacific, Europe, Latin America, the Middle East, and Africa, have global influence.
Electric Truck Market Segmentation
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. Moreover, 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.
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 2021. Furthermore 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 2021.
Electric Truck Market Key Players
• AB Volvo
• BYD Auto Co. Ltd
• Daimler AG
• Dongfeng Motor Corporation
• FAW Group Co., Ltd.
• Foton Motor Inc.
• Isuzu Motors Ltd
• Navistar, Inc.
• PACCAR Inc.
• Scania
• Tevva Motors Limited
• Tesla
• Rivian
• Ford
• GM
• Workhorse
• Atlis
• Lordstown
• Bollinger
• Volkswagen AG
• Hino Motors Ltd.
• Chanje Energy Inc.
• Orange EV
• Mitsubishi Fuso Truck & Bus Corp.
• Nikola Motor Co.
• Fiat Chrysler Automobiles N.V.
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Key Questions answered in the Electric Truck Market Report are:
- What is the sales value, production value, consumption value, import and export of Electric Truck globally (North America, Europe, Asia-Pacific, South America, Middle East, and Africa)?
- Who are the major players in the Electric Truck Industry on a worldwide scale?
- What is the state of business of Electric Truck market players? (capacity, production, sales, pricing, cost, gross, and revenue)?
- What are the market opportunities and restraints for Electric Truck suppliers in the global Electric Truck industry?
- Which application, end-user, or product category might be looking for new growth opportunities? What is each type’s and application’s Electric Truck market share?
Key Offerings:
- Market Share, Size & Forecast by Revenue | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by segments with their sub-segments and Region
- Competitive Landscape – Top Key Players and Other Prominent 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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