Product Code: AU_206548 / A06183
Electric trucks are the vehicles that take power from the pack of batteries for propulsion. Governments of various countries are setting stringent emission regulations, which, in turn, propel adoption of electric trucks by the fleet owners. In addition, electric trucks are noise free, zero emission, and efficient mode of transportation with lower maintenance cost, which in turn, makes them the preferred choice for fleet owners. Further, governments are also taking initiatives to provide sufficient charging infrastructure for electric trucks to facilitate smooth operations in the future.
Factors such as increasing government initiatives for promotion of e-mobility, stringent emission norms imposed on fossil-fuel powered commercial vehicles, and reducing cost of electric vehicle batteries drive growth of the electric truck market. However, lack of charging infrastructure and high cost of electric trucks are expected to hinder the growth of the market during the forecast period. Further, rise in demand for electric trucks from the logistics sector and development of self-driving electric truck technology is anticipated to provide remarkable growth opportunities for companies operating in the electric truck market.
The electric truck market is segmented on the basis of propulsion, vehicle type, range, and region. By propulsion, the market is classified into battery electric truck, hybrid electric truck, plug-in hybrid electric truck, and fuel-cell electric truck. By vehicle type, it is categorized into light-duty electric truck, medium-duty electric truck, and heavy-duty electric truck. By range, it is divided into upto 150 miles, 151 to 300 miles, and above 300 miles. By region, the market is analyzed across North America, Europe, Asia-Pacific, Latin America & Middle East (LAME) and Africa.
The companies profiled in the global electric trucks industry report are AB Volvo, BYD Compay Ltd., Daimler AG, Dongfeng Motor Company, Geely Automobiles Holdings Limited, Man SE, Paccar Inc., Scania, Tata Motors and Workhorse
COVID-19 SCENARIO ANALYSIS
The overall automobile market suffered losses in the initial months of the pandemic when sales of vehicles reduced drastically due to lockdowns. Closing down the factories resulting in the expulsion of the workers and the terror of stagnation due to coronavirus are leading to a significant decline in the sales of the electric trucks in first and second quarter of the 2020. Nevertheless, the demand for electric trucks is expected to gain traction after the lockdown restrictions are relaxed. However, during the second half of 2020, the sales increased and, in most cases, reduced the losses for those past months. The sales of electric vehicles increased in 2020 and 2021 due to the growing trend of vehicle electrification around the world. This sector was thus, less affected by the pandemic.
KEY BENEFITS FOR STAKEHOLDERS
- This study presents analytical depiction of the global electric truck market analysis along with current trends and future estimations to depict imminent investment pockets.
- The overall electric truck market opportunity is determined by understanding profitable trends to gain a stronger foothold.
- The report presents information related to the key drivers, restraints, and opportunities of the global electric truck market with a detailed impact analysis.
- The current electric truck market is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency.
- Porter's five forces analysis illustrates the potency of the buyers and suppliers in the industry.
KEY MARKET SEGMENTS
By Propulsion
- Battery electric vehicle
- Hybrid electric vehicle
- Plug-in hybrid electric vehicle
- Fuel cell electric vehicle
By Vehicle Type
- Light-Duty Electric Truck
- Medium-Duty Electric Truck
- Heavy-Duty Electric Truck
By Range
- Upto 150 Miles
- 151-300 Miles
- Above 300 Miles
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Russia
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- Latin America & Middle East (LAME)
- Latin America
- Middle East
- Africa
- Nigeria
- Kenya
- Ghana
- South Africa
- Rest of Africa
KEY PLAYERS
- AB Volvo
- BYD Compay Ltd.
- Daimler AG
- Dongfeng Motor Company
- Geely Automobiles Holdings Limited
- Man SE
- Paccar Inc.
- Scania
- Tata Motors
- Workhorse
-
TABLE OF CONTENTS
CHAPTER 1:INTRODUCTION
- 1.1.Report description
- 1.2.Key benefits for stakeholders
- 1.3.Key market segments
- 1.4.Research methodology
- 1.4.1.Primary research
- 1.4.2.Secondary research
- 1.4.3.Analyst tools and models
CHAPTER 2:EXECUTIVE SUMMARY
CHAPTER 3:MARKET OVERVIEW
- 3.1.Market definition and scope
- 3.2.Key findings
- 3.2.1.Top impacting factors
- 3.2.2.Top investment pockets
- 3.2.3.Top winning strategies
- 3.3.Porter's five forces analysis
- 3.4.Market share analysis, 2020 (%)
- 3.5.Market dynamics
- 3.5.1.Drivers
- 3.5.1.1.Increasing government initiatives for promotion of e-mobility
- 3.5.1.2.Stringent emission norms imposed on fossil-fuel powered commercial vehicles
- 3.5.1.3.Reducing cost of electric vehicle batteries
- 3.5.2.Restraints
- 3.5.2.1.Lack of charging infrastructure
- 3.5.2.2.High cost of electric trucks
- 3.5.3.Opportunities
- 3.5.3.1.Rising demand for electric trucks from the logistics sector
- 3.5.3.2.Development of self-driving electric truck technology
- 3.6.Impact of COVID-19 on Market
- 3.6.1.Evolution of Outbreaks
- 3.6.2.Macro-economic impact analysis
- 3.6.3.Micro-economic impact analysis
- 3.6.4.Covid impact on electric vehicle market
- 3.7.Assessment on China and India Automotive and Mobility Sector
- 3.7.1.China
- 3.7.1.1.Overview
- 3.7.1.2.Drivers
- 3.7.1.3.Restraint
- 3.7.1.4.Opportunities
- 3.7.2.India
- 3.7.2.1.Overview
- 3.7.2.2.Drivers
- 3.7.2.3.Restraint
- 3.7.2.4.Opportunities
- 3.8.Assessment on EV Regulation Scenario in Africa
CHAPTER 4:ELECTRIC TRUCK MARKET, BY PROPULSION
- 4.1.Overview
- 4.2.Battery electric truck
- 4.2.1.Key market trends, growth factors and opportunities
- 4.2.2.Market size and forecast, by region
- 4.2.3.Market analysis by country
- 4.3.Hybrid electric truck
- 4.3.1.Key market trends, growth factors, and opportunities
- 4.3.2.Market size and forecast, by region
- 4.3.3.Market analysis by country
- 4.4.Plug-in hybrid electric truck
- 4.4.1.Key market trends, growth factors and opportunities
- 4.4.2.Market size and forecast, by region
- 4.4.3.Market analysis by country
- 4.5.Fuel-cell electric truck
- 4.5.1.Key market trends, growth factors, and opportunities
- 4.5.2.Market size and forecast, by region
- 4.5.3.Market analysis by country
CHAPTER 5:ELECTRIC TRUCK MARKET, BY VEHICLE TYPE
- 5.1.Overview
- 5.2.Light-duty electric truck
- 5.2.1.Key market trends, growth factors and opportunities
- 5.2.2.Market size and forecast, by region
- 5.2.3.Market analysis by country
- 5.3.Medium-duty electric truck
- 5.3.1.Key market trends, growth factors, and opportunities
- 5.3.2.Market size and forecast, by region
- 5.3.3.Market analysis by country
- 5.4.Heavy-duty electric truck
- 5.4.1.Key market trends, growth factors, and opportunities
- 5.4.2.Market size and forecast, by region
- 5.4.3.Market analysis by country
CHAPTER 6:ELECTRIC TRUCK MARKET, BY RANGE
- 6.1.Overview
- 6.2.Up to 150 Miles
- 6.2.1.Key market trends, growth factors and opportunities
- 6.2.2.Market size and forecast, by region
- 6.2.3.Market analysis by country
- 6.3.151 to 300 miles
- 6.3.1.Key market trends, growth factors, and opportunities
- 6.3.2.Market size and forecast, by region
- 6.3.3.Market analysis by country
- 6.4.Above 300 Miles
- 6.4.1.Key market trends, growth factors, and opportunities
- 6.4.2.Market size and forecast, by region
- 6.4.3.Market analysis by country
CHAPTER 7:ELECTRIC TRUCK MARKET, BY REGION
- 7.1.Overview
- 7.2.North America
- 7.2.1.Key market trends, growth factors, and opportunities
- 7.2.2.Market size and forecast, by propulsion
- 7.2.3.Market size and forecast, by vehicle type
- 7.2.4.Market size and forecast, by range
- 7.2.5.Market analysis by country
- 7.2.5.1.U.S.
- 7.2.5.1.1.Market size and forecast, by propulsion
- 7.2.5.1.2.Market size and forecast, by vehicle type
- 7.2.5.1.3.Market size and forecast, by range
- 7.2.5.2.Canada
- 7.2.5.2.1.Market size and forecast, by propulsion
- 7.2.5.2.2.Market size and forecast, by vehicle type
- 7.2.5.2.3.Market size and forecast, by range
- 7.2.5.3.Mexico
- 7.2.5.3.1.Market size and forecast, by propulsion
- 7.2.5.3.2.Market size and forecast, by vehicle type
- 7.2.5.3.3.Market size and forecast, by Range
- 7.3.Europe
- 7.3.1.Key market trends, growth factors, and opportunities
- 7.3.2.Market size and forecast, by propulsion
- 7.3.3.Market size and forecast, by vehicle type
- 7.3.4.Market size and forecast, by range
- 7.3.5.Market analysis by country
- 7.3.5.1.UK
- 7.3.5.1.1.Market size and forecast, by propulsion
- 7.3.5.1.2.Market size and forecast, by vehicle type
- 7.3.5.1.3.Market size and forecast, by Range
- 7.3.5.2.Germany
- 7.3.5.2.1.Market size and forecast, by propulsion
- 7.3.5.2.2.Market size and forecast, by vehicle type
- 7.3.5.2.3.Market size and forecast, by range
- 7.3.5.3.France
- 7.3.5.3.1.Market size and forecast, by propulsion
- 7.3.5.3.2.Market size and forecast, by vehicle type
- 7.3.5.3.3.Market size and forecast, by range
- 7.3.5.4.Russia
- 7.3.5.4.1.Market size and forecast, by propulsion
- 7.3.5.4.2.Market size and forecast, by vehicle type
- 7.3.5.4.3.Market size and forecast, by range
- 7.3.5.5.Rest of Europe
- 7.3.5.5.1.Market size and forecast, by propulsion
- 7.3.5.5.2.Market size and forecast, by vehicle type
- 7.3.5.5.3.Market size and forecast, by range
- 7.4.Asia-Pacific
- 7.4.1.Key market trends, growth factors, and opportunities
- 7.4.2.Market size and forecast, by propulsion
- 7.4.3.Market size and forecast, by vehicle type
- 7.4.4.Market size and forecast, by range
- 7.4.5.Market analysis by country
- 7.4.5.1.China
- 7.4.5.1.1.Market size and forecast, by propulsion
- 7.4.5.1.2.Market size and forecast, by vehicle type
- 7.4.5.1.3.Market size and forecast, by range
- 7.4.5.2.India
- 7.4.5.2.1.Market size and forecast, by propulsion
- 7.4.5.2.2.Market size and forecast, by vehicle type
- 7.4.5.2.3.Market size and forecast, by range
- 7.4.5.3.Japan
- 7.4.5.3.1.Market size and forecast, by propulsion
- 7.4.5.3.2.Market size and forecast, by vehicle type
- 7.4.5.3.3.Market size and forecast, by range
- 7.4.5.4.South Korea
- 7.4.5.4.1.Market size and forecast, by propulsion
- 7.4.5.4.2.Market size and forecast, by vehicle type
- 7.4.5.4.3.Market size and forecast, by range
- 7.4.5.5.Rest of Asia-Pacific
- 7.4.5.5.1.Market size and forecast, by propulsion
- 7.4.5.5.2.Market size and forecast, by vehicle type
- 7.4.5.5.3.Market size and forecast, by range
- 7.5.LAME
- 7.5.1.Key market trends, growth factors, and opportunities
- 7.5.2.Market size and forecast, by propulsion
- 7.5.3.Market size and forecast, by vehicle type
- 7.5.4.Market size and forecast, by range
- 7.5.5.Market analysis by country
- 7.5.5.1.Latin America
- 7.5.5.1.1.Market size and forecast, by propulsion
- 7.5.5.1.2.Market size and forecast, by vehicle type
- 7.5.5.1.3.Market size and forecast, by range
- 7.5.5.2.Middle East
- 7.5.5.2.1.Market size and forecast, by propulsion
- 7.5.5.2.2.Market size and forecast, by vehicle type
- 7.5.5.2.3.Market size and forecast, by range
- 7.6.Africa
- 7.6.1.Key market trends, growth factors, and opportunities
- 7.6.2.Market size and forecast, by propulsion
- 7.6.3.Market size and forecast, by vehicle type
- 7.6.4.Market size and forecast, by range
- 7.6.5.Market analysis by country
- 7.6.5.1.Nigeria
- 7.6.5.2.Kenya
- 7.6.5.3.Ghana
- 7.6.5.4.South Africa
- 7.6.5.5.Rest of Africa
CHAPTER 8:COMPANY PROFILES
- 8.1.AB VOLVO
- 8.1.1.Company overview
- 8.1.2.Key executives
- 8.1.3.Company snapshot
- 8.1.4.Operating business segments
- 8.1.5.Product portfolio
- 8.1.6.R&D expenditure
- 8.1.7.Business performance
- 8.1.8.Key strategic moves and developments
- 8.2.BYD COMPAY LTD.
- 8.2.1.Company overview
- 8.2.2.Key executives
- 8.2.3.Company snapshot
- 8.2.4.Operating business segments
- 8.2.5.Product portfolio
- 8.2.6.R&D expenditure
- 8.2.7.Business performance
- 8.2.8.Key strategic moves and developments
- 8.3.DAIMLER AG
- 8.3.1.Company overview
- 8.3.2.Key executives
- 8.3.3.Company snapshot
- 8.3.4.Operating business segments
- 8.3.5.Product portfolio
- 8.3.6.R&D expenditure
- 8.3.7.Business performance
- 8.3.8.Key strategic moves and developments
- 8.4.DONGFENG MOTOR COMPANY
- 8.4.1.Company overview
- 8.4.2.Key executives
- 8.4.3.Company snapshot
- 8.4.4.Operating business segments
- 8.4.5.Product portfolio
- 8.4.6.R&D expenditure
- 8.4.7.Business performance
- 8.4.8.Key strategic moves and developments
- 8.5.GEELY AUTOMOBILES HOLDINGS LIMITED.
- 8.5.1.Company overview
- 8.5.2.Key executives
- 8.5.3.Company snapshot
- 8.5.4.Operating business segments
- 8.5.5.Product portfolio
- 8.5.6.R&D expenditure
- 8.5.7.Business performance
- 8.5.8.Key strategic moves and developments
- 8.6.MAN SE
- 8.6.1.Company overview
- 8.6.2.Key executives
- 8.6.3.Company snapshot
- 8.6.4.Operating business segments
- 8.6.5.Product portfolio
- 8.6.6.R&D expenditure
- 8.6.7.Business performance
- 8.6.8.Key strategic moves and developments
- 8.7.PACCAR INC.
- 8.7.1.Company overview
- 8.7.2.Key executives
- 8.7.3.Company snapshot
- 8.7.4.Operating business segments
- 8.7.5.Product portfolio
- 8.7.6.R&D expenditure
- 8.7.7.Business performance
- 8.7.8.Key strategic moves and developments
- 8.8.SCANIA
- 8.8.1.Company overview
- 8.8.2.Key executives
- 8.8.3.Company snapshot
- 8.8.4.Operating business segments
- 8.8.5.Product portfolio
- 8.8.6.R&D expenditure
- 8.8.7.Business performance
- 8.8.8.Key strategic moves and developments
- 8.9.TATA MOTORS
- 8.9.1.Company overview
- 8.9.2.Key executives
- 8.9.3.Company snapshot
- 8.9.4.Operating business segments
- 8.9.5.Product portfolio
- 8.9.6.R&D expenditure
- 8.9.7.Business performance
- 8.10.WORKHORSE
- 8.10.1.Company overview
- 8.10.2.Key executives
- 8.10.3.Company snapshot
- 8.10.4.Operating business segments
- 8.10.5.Product portfolio
- 8.10.6.R&D expenditure
- 8.10.7.Business performance
- 8.10.8.Key strategic moves and developments