Global Electric Truck Market showed crucial growth in the recent years and is anticipated to witness a steep rise by generating an estimated revenue of US$ xx.xx over the forecast period. According to latest study conducted by our analysts and industry experts, global electric truck market is expected to grow at a CAGR of 16.38% during the forecast period, i.e. 2017-2025. Electric trucks are an efficient alternative of fuel-driven commercial trucks or vehicles, and are powered by electricity. Rising concern towards the harmful environmental effects emitted by fuel-based vehicles is expected to scale up the market for electric truck market in recent coming years.

Global Electric Truck Market Growth Opportunities (Revenue, Growth) By 2017-2025

Market Dynamics

In terms of units, electric truck market was valued at around 125,210 units in the year 2017, and is expected to rise at a significant pace during the forecast period, owing to reduction in the price of electric batteries, which is making it a feasible option to utilize it for driving instead of fuel. Escalation in governmental regulations and concern over the increasing pollution due to emission of toxic gases from vehicles is projected to drive the growth of electric truck market critically over the forecast period. Rise in fuel prices, coupled with rise in commute and traffic due to rising population is expected to affect the electric truck market positively in the upcoming years.

Furthermore, rising demand of charging vehicle and infrastructure across the globe and support of government to electric vehicles can boost the growth of electric truck market during the forecast period. However, due to rise in demand, anticipated rise in electric vehicles in the upcoming years can hinder the global electric truck market.

Segment Analysis 

Heavy duty truck (HDT) segment is anticipated to rise at a significantly faster pace during the forecast period in terms of value as well as volume due to rapidly growing demand of freight in the world, and rise in the economic status of major developing countries such as India and China.

Among propulsion, BEV or Battery Electric Vehicle segment is projected to rise swiftly in the recent years, owing to rise in governmental support to the development and purchase of battery-based vehicles in order to control pollution. Incentives provided by government in some countries to support the development and adoptation of battery-based truck and other vehicles is anticipated to drive the growth of the segment in the global electric truck market.

Regional Analysis

Europe, followed by North America is anticipated to be holding the major revenue share in the global electric truck market, owing to escalating inclination of European vehicles towards fully electric or hybrid vehicle technologies. Low operational cost required to drive battery-based trucks or vehicles as compared to fuel-based vehicle is another reason which is boosting the growth of electric truck market in Europe as well as North America.

Global Electric Truck Market Size, Share Analysis By Region 2017

Asia Pacific is anticipated to register a crucial growth in the global electric truck market due to favorable governmental incentives and subsidies on electric vehicles in countries such as China. To better the air quality in countries where vehicle pollution is growing such as India and China, government of these countries are supporting the use of electric vehicles, that are comparatively more environment friendly. Middle East and Africa market gaining attraction of the investment for the companies for more scope in the regions and expected to rise healthy growth over the forecast period.

Global Electric Truck Market Study Objective

1. To forecast the market size of electric truck market, along with describing and defining the market, in terms of volume and revenue.

2. Market analysis and forecast of electric truck market on the basis of region, substrate and application or end-use industry.

3. To analyze and elaborate significant factors that will have major impact on the growth of electric truck market, such as drivers, restraints, challenges and opportunities.

4. Regional analysis of electric truck market, to induce market size of five global major regions, which include, Europe, North America, South America, Middle East & Africa and Asia Pacific.

5. Strategic analysis of micromarkets, in terms of individual prospects, opportunities, growth trends and their involvement in overall market.

6. To provide detailed analysis of competitive and strategic developments in the electric truck market like new product launch, partnership & agreement, investment & expansion, and company merger & acquisitions.

7. Analysis of market opportunities for stakeholders, in order to provide a competitive landscape for global market players.

8. To profile major market players, and to analyze their market shares and essential competencies comprehensively.

Bottom-up and top-down are two main approaches that were taken into account to anticipate and validate the market size of electric truck market, and to reach the anticipated market size of several dependent submarkets. The research and study involved massive utilization of secondary data sources, several directories, private and government websites, and authentic databases, to collect or gather market-oriented as well as technical information for the study of electric truck market commercially.

Global Key Players 

Major players performing in electric truck market include Navistar International Corporation, Dongfeng Motor Corporation, FAW Group Company Ltd., BYD Auto Company Ltd., Daimler AG, Zenith Motor LLC, Isuzu Motors Ltd., Foton Motor Inc., PACCAR Inc., Mitsubishi Fuso Truck and Bus Corporation, and AB Volvo.

Global Electric Truck Market Report Offer You!

Global Electric Truck Market study report gives an idea about market size, share, stock, equity, investment and total price analysis. Also, the report provides comprehensively industry insights with all major factors such as market credit, allocation, demand, distribution, market scope, key players, end user & applications, provisions, livestock, commodities and industry economics analysis, future growth & forecast.

The global market report includes all depth data like pre-market emphasis, market survey, market investment, industry advice, portfolio, finance, access, trade, market exploration, industry review and market predication & projection to develop effective strategies for optimizing their market position.

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