Electric Truck Market Overview:
The competitive landscape of the Electric Truck market includes information about competitors. The contents include a corporate overview, financials, revenue generated, market potential, investment in research and development, new market efforts, geographical presence, firm strengths and weaknesses, product introduction, and application dominance. The preceding data points are solely relevant to the businesses’ focus on the Electric Truck market.
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Electric Truck Market Scope:
This Electric Truck market report discusses new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, opportunities in terms of emerging revenue streams, changes in market regulations, strategic market growth analysis, market size, segmented market growth, application niches, and dominance, product approvals, product launches, geographic expansion For more information on the Electric Truck market, please contact Maximize Market Research for an Analyst Brief; our experts will assist you in making an informed market choice to achieve market growth.
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.
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
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Electric Truck Market Key Players: The following are the key players of the Electric Truck market-
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.
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Regional Analysis:
The geographical section of the research also includes individual market influencing variables and changes in market regulations that effect current and future market trends. Data points such as downstream and upstream value chain analysis, technology trends, porter’s five forces analysis, and case studies are only a few of the indicators used to forecast market scenarios for various countries.
COVID-19 Impact Analysis on Electric Truck Market: The research also addresses the impact of COVID-19 on the Electric Truck market. The basic purpose of this study is to help the user understand the market in terms of definition, segmentation, market potential, noteworthy trends, and the issues that the industry is facing across key regions. The study provides micro and macroeconomic analysis of the total impact of COVID-19 on the Electric Truck Market. The specific analysis focuses on market share and size, which clearly demonstrates the influence that the pandemic has had and will have on the worldwide Electric Truck Market in the next years.
Key Questions Answered in the Electric Truck Market Report are:
- What will be the CAGR of the Electric Truck market during the forecast period (2021-2027)?
- Which segment emerged as the leading segment in the Electric Truck market?
- Which are the prominent players in the Electric Truck market?
- What key trends are likely to emerge in the Electric Truck market in the forecast period?
- What will be the Electric Truck market size by 2027?
- Which company held the largest share in the Electric Truck market in 2020?
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