The electric truck market is projected to grow at a CAGR of 34.2% from 2022 to 2030, reaching 1,067,985 units by 2030 from 101,499 units in 2022. The increasing focus of countries on promoting electrification of mass transit solutions due to increased concerns over pollution and government support in terms of subsidies and grants are propelling the growth of the electric truck market.
Reducing the cost of EV batteries
The cost of EV batteries has been decreasing over the past decade due to technological advancements and the production of EV batteries on a mass scale. In 2010, the price of an EV battery was USD 1,100 per kWh. According to Bloomberg, the price fell to USD 138 per kWh in 2022 and as low as USD 100 per kWh in China. This is due to the reduced manufacturing costs, cathode material prices, and increased production volume. Prices of EV batteries are expected to be USD 40-60 per kWh by 2030, which will reduce the price of EV trucks, making them priced similarly to conventional ICE trucks. Other top battery manufacturers like Samsung SDI, Panasonic, LG Chem, SK Innovation, and CATL have been working with top EV manufacturers to achieve this goal in the next 4-5 years. In April 2022, Samsung SDI announced the development of cobalt-free batteries to secure the price competitiveness of its EV batteries.
Lower operating cost
According to the US Energy Information Administration (EIA), 94.1 million barrels of gasoline per day were consumed in 2021 around the world. According to Forbes, petrol prices in the international market have been rising over the years. The demand for petrol and diesel in the world is high as they are non-renewable resources, which may get exhausted in the next few decades. Even though many treaties have been made to control the price of petrol in the international market, prices have been rising over the years. As most countries import petrol, its usage contributes to lowering the balance of trade in the economy. The limited petroleum reserves and rising prices of fuel have led automakers to consider alternative fuel sources for their vehicles. The operating cost of electric trucks is lower than petrol and some other fuel alternatives. Along with environment conservation, this is a major factor in the growing demand for EVs in the market.
Increasing vehicle range
The major area of development in electric trucks is their driving range on a single charge. With improvements in EV battery technology, various OEMs are working on developing longer-ranged electric trucks. This will make electric trucks more viable as part of the commercial vehicle sector in the coming years. In February 2022, BYD launched Q1 for heavy-duty operations 25 with a 5 kWh lithium iron phosphate battery. It delivers a range of around 200 km while the top speed is restricted at 85 km/h. In October 2022, PepsiCo (US) announced the delivery of 100 electric truck Semi with a range of 500 miles to be used in its fleet for delivery purposes. The logistics sector is the most contributing source of greenhouse gas emissions. Governments across the globe are constantly introducing new initiatives and policies to endorse long-range electric trucks for the logistics sector. These are expected to have a large market across major European countries such as Germany, UK, and France. US and China will also have a large market for upcoming long-range electric trucks due to strong government support.
The study contains insights from various industry experts, ranging from component suppliers to tier-1 companies and OEMs.
The break-up of the primaries is as follows:
- By Company Type: Tier 1 - 29%, Tier 2 - 14%, OEMs - 57%
- By Designation: CXOs - 54%, Directors - 32%, Others - 14%
- By Region: North America - 32%, Europe - 36%, Asia Pacific- 32%
The electric truck market is dominated by players such as BYD(China), Mercedes Benz Group AG (Germany), AB Volvo (Sweden), Ford Motor Company(US), Rivian(US), and others.
Research Coverage
The report segments the electric trucks market and forecasts its size, by volume, on the basis of propulsion type (BEV, PHEV, FCEV) vehicle type (light-duty trucks, medium-duty trucks, heavy-duty trucks), battery type (lithium-nickel-manganese-cobalt Oxide, lithium-iron-phosphate, others), end user (last-mile delivery, long haul transportation, distribution services, refuse services, field services), by range (up to 200 miles, above 200 miles), GVWR (up to 10,000 lbs, 10,001-26,000 lbs, above 26,000 lbs), level of automation (semi-autonomous trucks and autonomous trucks), battery capacity (< 50 kWh, 50-250 kWh, above 250 kWh) & Region. It also covers the competitive landscape and company profiles of the major players in the electric truck market ecosystem.
Key Benefits of Buying the Report:
- The report will help market leaders/new entrants in this market with information on the closest approximations of revenue and volume for electric truck market and its sub-segments.
- This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.
- The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
Table of Contents
1 Introduction
1.1 Study Objectives
1.2 Market Definition
1.2.1 Electric Trucks Market Definition, by Type
1.2.2 Market Definition, by End-User
1.2.3 Market Definition, by Battery Type
1.2.4 Market Definition, by Propulsion Type
1.2.5 Market Definition, by Level of Automation
1.3 Market: Inclusions and Exclusions
1.3.1 Inclusions and Exclusions
1.4 Market Scope
Figure 1 Market Segmentation: Market
1.4.1 Years Considered
1.5 Currency Considered
Table 1 Currency Exchange Rates (Per Usd)
1.6 Stakeholders
1.7 Summary of Changes
2 Research Methodology
2.1 Research Data
Figure 2 Electric Trucks Market: Research Design
2.1.1 Secondary Data
2.1.1.1 Key Data from Secondary Sources
2.1.1.2 List of Secondary Sources
2.1.2 Primary Data
2.1.2.1 List of Participating Companies for Primary Research
2.1.2.2 Key Industry Insights
2.1.2.3 Breakdown of Primary Interviews
Figure 3 Breakdown of Primary Interviews, by Company, Designation, and Region
2.2 Market Size Estimation
2.2.1 Recession Impact Analysis
2.2.2 Bottom-Up Approach
Figure 4 Market Size Estimation Methodology for Market: Bottom-Up Approach
2.2.3 Top-Down Approach
Figure 5 Market Size Estimation Methodology for Market: Top-Down Approach
Figure 6 North America: Market, by Medium and Heavy-Duty Truck Type, 2022 Vs. 2030 (Units)
Figure 7 Europe: Market, by Medium and Heavy-Duty Truck Type, 2022 Vs. 2030 (Units)
Figure 8 Asia-Pacific: Market, by Medium and Heavy-Duty Truck Type, 2022 Vs. 2030 (Units)
2.3 Factor Analysis
2.3.1 Recession Impact Analysis
2.3.2 Factor Analysis for Market Sizing: Demand- and Supply-Side
2.4 Data Triangulation
Figure 9 Data Triangulation
2.5 Research Assumptions
2.6 Risk Assessment
2.7 Research Limitations
3 Executive Summary
Figure 10 Electric Trucks Market: Market Dynamics
Figure 11 Market, by Region, 2022 Vs. 2030 (Units)
Figure 12 Market, by Battery Type, 2022 Vs. 2030 (Units)
Figure 13 North America: Market, by Fuel Type, 2022 Vs. 2030 (Units)
Figure 14 Asia-Pacific: Market, by Fuel Type, 2022 Vs. 2030 (Units)
Figure 15 Europe: Market, by Fuel Type, 2022 Vs. 2030 (Units)
4 Premium Insights
4.1 Attractive Opportunities in Electric Trucks Market
Figure 16 Increased Fuel-Efficient Vehicle Ownership to Drive Demand for Electric Trucks
4.2 Market, by Region
Figure 17 Asia-Pacific Accounted for Largest Market Share in 2022
4.3 Market, by Battery Capacity
Figure 18 50-250 Kwh Projected to be Largest Market (2022-2030) (Units)
4.4 Market, by Battery Type
Figure 19 Lithium-Iron-Phosphate Segment to be Dominant Segment During Forecast Period (Units)
4.5 Market, by End-User
Figure 20 Last Mile Delivery to be Larger Segment During Forecast Period
4.6 Market, by Range
Figure 21 Upto 200 Miles Segment to Witness Higher Growth (2022- 2030)
4.7 Market, by Propulsion Type
Figure 22 Fcev Segment to Have Higher Growth During Forecast Period
4.8 Market, by Level of Automation
Figure 23 Semi-Autonomous Trucks Segment to Register Highest Growth During Forecast Period
4.9 Market, by Type
Figure 24 Light-Duty Trucks to Have High Growth During from 2022 to 2030 (Units)
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
Figure 25 Electric Trucks Market: Market Dynamics
Table 2 Market: Impact of Market Dynamics
5.2.1 Drivers
5.2.1.1 Reducing Cost of Ev Batteries
Figure 26 Ev Battery Pricing Analysis
5.2.1.2 Lower Operating Cost
Figure 27 Operating Cost: Electric Trucks Vs. Ice Trucks (2022)
Table 3 Average Gasoline Prices in Us (2016-2022)
Table 4 Average Diesel Prices in Us (2016-2022)
5.2.1.3 Increasing Vehicle Range
Table 5 New Ev Truck Models, by Range, by Battery Capacity, and Average Price (2022)
5.2.1.4 Rising Demand for Electric Trucks in Logistics and Other Industries
Table 6 Major Purchase Order/Supply Contract for Electric Trucks
5.2.1.5 Government Initiatives for Evs
Table 7 Government Programs for Promotion of Electric Commercial Vehicle Sales
Figure 28 Electrification Target, by Country
Figure 29 Regulatory Comparison for Evs Worldwide
5.2.2 Restraints
5.2.2.1 High Initial Investment for Production
5.2.2.2 Lack of Ev Charging Infrastructure
Figure 30 Ev Charger Density Comparison (2021)
Figure 31 Private, Semi-Public, and Public Charging
5.2.2.3 Longer Charging Time
Figure 32 Charging Time Required Using Different Types
5.2.3 Opportunities
5.2.3.1 Development of Self-Driving Truck Technology
5.2.3.2 Development of Wireless Ev Charging Technology
5.2.3.3 Rapid Development in Fuel Cell Technology
5.2.4 Challenges
5.2.4.1 High Cost of Existing Electric Trucks
5.2.4.2 Insufficient Standardization of Ev Charging Infrastructure
Figure 33 Ev Chargers Used Globally
5.3 Porter's Five Forces
Figure 34 Porter's Five Forces: Electric Trucks Market
Table 8 Market: Impact of Porters 5 Forces
5.3.1 Threat of Substitutes
5.3.2 Threat of New Entrants
5.3.3 Bargaining Power of Buyers
5.3.4 Bargaining Power of Suppliers
5.3.5 Intensity of Competitive Rivalry
5.4 Macroeconomic Indicators
5.4.1 Gdp Trends and Forecast for Major Economies
Table 9 Gdp Trends and Forecast, by Major Economies, 2019-2026 (USD Billion)
5.5 Market Ecosystem
Figure 35 Market: Ecosystem Analysis
5.5.1 Ev Charging Providers
5.5.2 Raw Material Suppliers
5.5.3 Oems
5.5.4 Battery Manufacturer/Component Manufacturer
5.5.5 Electric Vehicle Startup Ecosystem Analysis
Figure 36 Ev Startup Ecosystem Analysis
5.5.6 Ev Roadmap, by Battery Capacity and Range
Figure 37 Ev Roadmap, by Battery Capacity and Range
5.6 Value Chain Analysis
Figure 38 Value Chain Analysis
Figure 39 Trends and Disruptions in Market
5.7 Pricing Analysis
Table 10 Diesel/Petrol Trucks: Average Price Comparison (2022)
Table 11 Electric Trucks: Average Price Comparison
5.8 Case Studies
5.8.1 User Experience of Battery-Electric Trucks in Norway
5.9 Technology Analysis
5.9.1 Smart Charging System
Figure 40 Smart Ev Charging System
5.9.2 Solid-State Batteries (Ssb)
5.9.3 IoT in Electric Vehicles
5.9.4 Range Extenders in Electric Trucks
5.9.5 Battery Technology Analysis, by Battery Chemistry
Figure 41 Battery Manufacturer Roadmap, by Battery Chemistry Wrt Battery Type
5.9.6 Battery Technology Analysis, by Battery Size in Asia-Pacific
Figure 42 Average Battery Size in Top Lcvs in Asia-Pacific
5.9.7 Cell to Pack Technology
5.9.8 Megawatt Charging System for Heavy-Duty Trucks
5.9.9 Wireless Road Charging for Evs
5.10 Bill of Material
Figure 43 Market: Bill of Materials for Lcv
Figure 44 Market Bill of Material, Battery Vs. Non-Battery
5.11 Oems Sourcing Strategies
5.11.1 Future Intended Sourcing Strategies of Oems in Market
Figure 45 Market: Future Strategies
5.11.2 Oems Motor Rating Analysis, by Range
Figure 46 Market: by Range
5.11.3 Competitive Market Assessment, by Payload Capacity
Figure 47 Electric Trucks Competitive Assessment, by Payload Capacity
Figure 48 Electric Trucks Cargo Delivery Vs. Payload Capacity
5.12 Regulatory Overview
5.12.1 Netherlands
Table 12 Netherlands: Incentives for Electric Vehicles
Table 13 Netherlands: Electric Vehicle Charging Station Incentives
5.12.2 Germany
Table 14 Germany: Electric Vehicle Incentives
Table 15 Germany: Electric Vehicle Charging Station Incentives
5.12.3 France
Table 16 France: Electric Vehicle Incentives
Table 17 France: Electric Vehicle Charging Station Incentives
5.12.4 UK
Table 18 UK: Electric Vehicle Incentives
Table 19 UK: Electric Vehicle Charging Station Incentives
5.12.5 China
Table 20 China: Electric Vehicle Incentives
Table 21 China: Electric Vehicle Charging Station Incentives
5.12.6 US
Table 22 US: Electric Vehicle Incentives
Table 23 US: Electric Vehicle Charging Station Incentives
5.13 Conferences and Events, 2023-2024
Table 24 Market: Conferences and Events, 2023-2024
5.13.1 Regulatory Bodies, Government Agencies, and Other Organizations
Table 25 Asia-Pacific: Regulatory Bodies, Government Agencies, and Other Organizations
Table 26 North America: Regulatory Bodies, Government Agencies, and Other Organizations
Table 27 Europe: Regulatory Bodies, Government Agencies, and Other Organizations
Table 28 Rest of the World: Regulatory Bodies, Government Agencies, and Other Organizations
5.14 Patent Analysis
Table 29 Important Patent Registrations Related to Market
Table 30 Market: Patented Documents Analysis, by Published, Filed, and Granted (2016-2021)
5.15 Key Stakeholders and Buying Criteria
5.15.1 Key Stakeholders in Buying Process
Table 31 Influence of Institutional Buyers for Purchase of Electric Trucks
5.15.2 Buying Criteria
5.16 Recession Impact Analysis
Table 32 Influence of Recession on Sales of Electric Trucks
5.17 Market, Scenarios (2022-2030)
5.17.1 Most Likely Scenario
Table 33 Market (Most Likely), by Region, 2022-2030 (Units)
5.17.2 Optimistic Scenario
Table 34 Market (Optimistic), by Region, 2022-2030 (Units)
5.17.3 Pessimistic Scenario
Table 35 Market (Pessimistic), by Region, 2022-2030 (Units)
6 Electric Trucks Market, by Battery Capacity
6.1 Introduction
Figure 49 50-250 Kwh Segment to Dominate Market, 2022-2030 (Units)
Table 36 Market, by Battery Capacity, 2019-2021 (Units)
Table 37 Market, by Battery Capacity, 2022-2030 (Units)
6.1.1 Operational Data
Table 38 Electric Trucks: by Battery Capacity
6.1.2 Assumptions
6.1.3 Research Methodology
6.2 <50 Kwh
6.2.1 High Adoption Rate in Electric Pickup Trucks
Table 39 <50 Kwh: Market, by Region, 2019-2021 (Units)
Table 40 <50 Kwh: Market, by Region, 2022-2030 (Units)
6.3 50-250 Kwh
6.3.1 Increased Use in Light Commercial Vehicles in North America
Table 41 50-250 Kwh: Electric Truck Market, by Region, 2019-2021 (Units)
Table 42 50-250 Kwh: Electric Truck Market, by Region, 2022-2030 (Units)
6.4 Above 250 Kwh
6.4.1 Used for Transportation of Heavy Logistics
Table 43 Above 250 Kwh: Electric Truck Market, by Region, 2019-2021 (Units)
Table 44 Above 250 Kwh: Market, by Region, 2022-2030 (Units)
6.5 Key Industry Insights
7 Electric Trucks Market, by Battery Type
7.1 Introduction
Figure 50 Market, by Battery Type, 2022-2030 (Units)
Table 45 Market, by Battery Type, 2019-2021 (Units)
Table 46 Market, by Battery Type, 2022-2030 (Units)
7.1.1 Operational Data
Table 47 Electric Trucks: by Battery Type
7.1.2 Assumptions
7.1.3 Research Methodology
7.2 Lithium-Nickel-Manganese-Cobalt Oxide
7.2.1 Advancements in Battery Technology
Table 48 Lithium-Nickel-Manganese-Cobalt Oxide: Market, by Region, 2019-2021 (Units)
Table 49 Lithium-Nickel-Manganese-Cobalt Oxide: Market, by Region, 2022-2030 (Units)
7.3 Lithium-Iron-Phosphate
7.3.1 Lower Prices Than Other Batteries
Table 50 Lithium-Iron-Phosphate: Market, by Region, 2019-2021 (Units)
Table 51 Lithium-Iron-Phosphate: Market, by Region, 2022-2030 (Units)
7.4 Others
7.4.1 R&D Investments by Oems to Develop Batteries
Table 52 Others: Market, by Region, 2019-2021 (Units)
Table 53 Others: Market, by Region, 2022-2030 (Units)
7.5 Key Industry Insights
8 Electric Trucks Market, by End-User
8.1 Introduction
Figure 51 Market, by End-User, 2022-2030 (Units)
Table 54 Market, by End-User, 2019-2021 (Units)
Table 55 Market, by End-User, 2022-2030 (Units)
8.1.1 Operational Data
Table 56 Electric Trucks: by End-User
8.1.2 Assumptions
8.1.3 Research Methodology
8.2 Last Mile Delivery
8.2.1 Increased Use in E-Commerce Sector
8.3 Field Services
8.3.1 Rising Use in Field Maintenance
8.4 Distribution Services
8.4.1 Used for Delivery Services
8.5 Long Haul Transportation
8.5.1 Manages Logistics
8.6 Refuse Services
8.6.1 Handles Global Waste Management
8.7 Key Industry Insights
9 Electric Trucks Market, by Gvwr
9.1 Introduction
9.1.1 Operational Data
Table 57 Operational Data: Electric Trucks Data Based on Gvwr
9.2 Upto 10,000 Lbs
9.2.1 Used for Delivery and Refuse Services
9.3 10,001-26,000 Lbs
9.3.1 Increased Use for Distribution, Construction, and Field Services
9.4 Above 26,000 Lbs
9.4.1 Carries Heavy Goods
10 Electric Trucks Market, by Level of Automation
10.1 Introduction
Figure 52 Market, by Level of Automation, 2022-2030 (Units)
Table 58 Market, by Level of Automation, 2019-2021 (Units)
Table 59 Market, by Level of Automation, 2022-2030 (Units)
10.1.1 Assumptions
10.1.2 Research Methodology
10.2 Level 1
10.2.1 Lane Assist Features in Electric Trucks
10.3 Level 2 & 3
10.3.1 Increasing Investments by Oems to Promote Level 2 & 3 Semi-Autonomous Trucks
10.4 Level 4
10.4.1 Increasing Subsidies by Governments
10.5 Level 5
10.5.1 Provides Improved Vehicle Safety and Reduced Traffic Congestion
10.6 Key Industry Insights
11 Electric Trucks Market, by Propulsion Type
11.1 Introduction
Figure 53 Market, by Propulsion Type, 2022-2030 (Units)
Table 60 Market, by Propulsion Type, 2019-2021 (Units)
Table 61 Market, by Propulsion Type, 2022-2030 (Units)
11.1.1 Operational Data
Table 62 Electric Trucks: by Propulsion Type
11.1.2 Assumptions
11.1.3 Research Methodology
11.2 Bev
11.2.1 Government Incentives and Subsidies Offered Worldwide
Table 63 Bev: Market, by Region, 2019-2021 (Units)
Table 64 Bev: Market, by Region, 2022-2030 (Units)
11.3 Fcev
11.3.1 Ongoing Developments by Oems
Table 65 Fcev: Market, by Region, 2019-2021 (Units)
Table 66 Fcev: Market, by Region, 2022-2030 (Units)
11.4 Phev
11.4.1 Rechargeable Batteries with Less Fuel Consumption
Table 67 Phev: Market, by Region, 2019-2021 (Units)
Table 68 Phev: Market, by Region, 2022-2030 (Units)
11.5 Key Industry Insights
12 Electric Trucks Market, by Range
12.1 Introduction
Figure 54 Market, by Range, 2022-2030 (Units)
Table 69 Market, by Range, 2019-2021 (Units)
Table 70 Market, by Range, 2022-2030 (Units)
12.1.1 Operational Data
Table 71 Electric Trucks: by Range
12.1.2 Assumptions
12.1.3 Research Methodology
12.2 Upto 200 Miles
12.2.1 Affordable and Low-Cost Batteries
Table 72 Upto 200 Miles: Market, by Region, 2019-2021 (Units)
Table 73 Upto 200 Miles: Market, by Region, 2022-2030 (Units)
12.3 Above 200 Miles
12.3.1 Used for Long Haul Transportation
Table 74 Above 200 Miles: Market, by Region, 2019-2021 (Units)
Table 75 Above 200 Miles: Market, by Region, 2022-2030 (Units)
12.4 Key Industry Insights
13 Electric Trucks Market, by Type
13.1 Introduction
Figure 55 Market, by Type, 2022-2030 (Units)
Table 76 Market, by Type, 2019-2021 (Units)
Table 77 Market, by Type, 2022-2030 (Units)
13.1.1 Operational Data
Table 78 Electric Trucks: by Type
13.1.2 Assumptions
13.1.3 Research Methodology
13.2 Light-Duty Trucks
13.2.1 Used for Commercial Last Mile Delivery
Table 79 Light-Duty Trucks: Market, by Region, 2019-2021 (Units)
Table 80 Light-Duty Truck: Market, by Region, 2022-2030 (Units)
13.3 Medium-Duty Trucks
13.3.1 Manages E-Commerce and Intra-State Logistics
Table 81 Medium-Duty Trucks: Market, by Region, 2019-2021 (Units)
Table 82 Medium-Duty Trucks: Market, by Region, 2022-2030 (Units)
13.4 Heavy-Duty Trucks
13.4.1 Includes Inter-State Delivery and Specialized Vehicles
Table 83 Heavy-Duty Trucks: Market, by Region, 2019-2021 (Units)
Table 84 Heavy-Duty Trucks: Market, by Region, 2022-2030 (Units)
13.5 Key Industry Insights
14 Electric Trucks Market, by Region
14.1 Introduction
Figure 56 Market, by Region, 2022 Vs. 2030 (Units)
Table 85 Market, by Region, 2019-2021 (Units)
Table 86 Market, by Region, 2022-2030 (Units)
Table 87 Market, by Region, 2019-2021 (USD Million)
Table 88 Market, by Region, 2022-2030 (USD Million)
14.2 Asia-Pacific
Figure 57 Asia-Pacific: Market Snapshot
Table 89 Asia-Pacific: Market, by Country, 2019-2021 (Units)
Table 90 Asia-Pacific: Market, by Country, 2022-2030 (Units)
14.2.1 China
14.2.1.1 Increased Investments in Charging Infrastructure
Table 91 China: Market, by Type, 2019-2021 (Units)
Table 92 China: Market, by Type, 2022-2030 (Units)
14.2.2 India
14.2.2.1 Government Initiatives for Electric Trucks
Table 93 India: Market, by Type, 2019-2021 (Units)
Table 94 India: Market, by Type, 2022-2030 (Units)
14.2.3 Japan
14.2.3.1 Advancements in Battery Technology
Table 95 Japan: Market, by Type, 2019-2021 (Units)
Table 96 Japan: Market, by Type, 2022-2030 (Units)
14.2.4 South Korea
14.2.4.1 Increased Investments in Commercial Electric Vehicles
Table 97 South Korea: Market, by Type, 2019-2021 (Units)
Table 98 South Korea: Market, by Type, 2022-2030 (Units)
14.3 Europe
14.3.1 Europe: Recession Impact
Figure 58 Europe: Market Snapshot, 2022 Vs. 2030 (Units)
Table 99 Europe: Market, by Country, 2019-2021 (Units)
Table 100 Europe: Market, by Country, 2022-2030 (Units)
14.3.2 France
14.3.2.1 Government Offers Purchase Grants
Table 101 France: Market, by Type, 2019-2021 (Units)
Table 102 France: Market, by Type, 2022-2030 (Units)
14.3.3 Germany
14.3.3.1 E-Highway Program
Table 103 Germany: Market, by Type, 2019-2021 (Units)
Table 104 Germany: Market, by Type, 2022-2030 (Units)
14.3.4 Netherlands
14.3.4.1 Focus on Greener Vehicles
Table 105 Netherlands: Market, by Type, 2019-2021 (Units)
Table 106 Netherlands: Market, by Type, 2022-2030 (Units)
14.3.5 Norway
14.3.5.1 Tax Incentives for Electric Vehicles
Table 107 Norway: Market, by Type, 2019-2021 (Units)
Table 108 Norway: Market, by Type, 2022-2030 (Units)
14.3.6 Sweden
14.3.6.1 Presence of Top Oems
Table 109 Sweden: Market, by Type, 2019-2021 (Units)
Table 110 Sweden: Market, by Type, 2022-2030 (Units)
14.3.7 UK
14.3.7.1 Investment in Ultra-Low Emission Vehicles
Table 111 UK: Market, by Type, 2019-2021 (Units)
Table 112 UK: Market, by Type, 2022-2030 (Units)
14.4 North America
Figure 59 North America: Market Snapshot
Table 113 North America: Market, by Country, 2019-2021 (Units)
Table 114 North America: Market, by Country, 2022-2030 (Units)
14.4.1 Canada
14.4.1.1 Increasing Development in Electric Vehicles Infrastructure
Table 115 Canada: Electric Truck Market, by Type, 2019-2021 (Units)
Table 116 Canada: Electric Truck Market, by Type, 2022-2030 (Units)
14.4.2 US
14.4.2.1 Increasing Developments in Electric Truck Technology
Table 117 US: Market, by Type, 2019-2021 (Units)
Table 118 US: Market, by Type, 2022-2030 (Units)
15 Competitive Landscape
15.1 Overview
15.1.1 Oems Vehicle Models Launch Plans, 2023-2026
Figure 60 Electric Trucks Market: Oems Vehicle Model Launch Plans
15.2 Market Share Analysis for Market
Table 119 Market Share Analysis, 2022
Figure 61 Market Share Analysis, 2022
15.3 Key Player Strategies
Table 120 Overview of Strategies Adopted by Players in Market
15.4 Revenue Analysis of Top Listed/Public Players
Figure 62 Top Public/Listed Players Dominating Market During Last Five Years
15.5 Competitive Scenario
15.5.1 New Product Launches
Table 121 New Product Launches, 2020-2023
15.5.2 Deals
Table 122 Deals, 2020-2023
15.5.3 Others
Table 123 Others, 2020-2023
15.6 Company Evaluation Quadrant
15.6.1 Stars
15.6.2 Emerging Leaders
15.6.3 Pervasive Players
15.6.4 Participants
Figure 63 Market: Company Evaluation Quadrant, 2023
Table 124 Market: Company Footprint, 2023
Table 125 Market: Product Footprint, 2022
Table 126 Market: Regional Footprint, 2022
15.7 Startup/Sme Evaluation Quadrant
15.7.1 Progressive Companies
15.7.2 Responsive Companies
15.7.3 Dynamic Companies
15.7.4 Starting Blocks
Figure 64 Market: Startup/Sme Evaluation Quadrant, 2023
Table 127 Market: Detailed List of Key Startups/Smes
Table 128 Market: Competitive Benchmarking of Key Players [Startups/Smes]
16 Company Profiles
16.1 Key Players
(Business Overview, Products/Services/Solutions Offered, Analyst's View, Key Strengths and Right to Win, Strategic Choices Made, Weaknesses and Competitive Threats, Recent Developments)*
16.1.1 Ab Volvo
Table 129 Ab Volvo: Business Overview
Figure 65 Ab Volvo: Company Snapshot
Figure 66 Ab Volvo: Sales, by Revenue (2021)
Table 130 Ab Volvo: Products Offered
Table 131 Ab Volvo: New Product Developments
Table 132 Ab Volvo: Deals
Table 133 Ab Volvo: Others
16.1.2 Byd
Table 134 Byd: Business Overview
Figure 67 Byd: Company Snapshot
Table 135 Byd: Products Offered
Table 136 Byd: New Product Developments
Table 137 Byd: Deals
Table 138 Byd: Others
16.1.3 Rivian
Table 139 Rivian: Business Overview
Table 140 Rivian: Products Offered
Table 141 Rivian: New Product Developments
Table 142 Rivian: Deals
Table 143 Rivian: Others
16.1.4 Mercedes Benz Group Ag
Table 144 Mercedes Benz Group Ag: Business Overview
Figure 68 Mercedes Benz Group Ag: Company Snapshot
Table 145 Mercedes Benz Group Ag: Products Offered
Table 146 Mercedes Benz Group Ag: New Product Developments
Table 147 Mercedes Benz Group Ag: Deals
Table 148 Mercedes Benz Group Ag: Others
16.1.5 Ford Motor Company
Table 149 Ford Motor Company: Business Overview
Figure 69 Ford Motor Company: Company Snapshot
Table 150 Ford Motor Company: Products Offered
Table 151 Ford Motor Company: New Product Developments
Table 152 Ford Motor Company: Deals
Table 153 Ford Motor Company: Others
16.1.6 Paccar Inc.
Table 154 Paccar Inc.: Business Overview
Figure 70 Paccar Inc.: Company Snapshot
Table 155 Paccar Inc.: Products Offered
Table 156 Paccar Inc.: New Product Developments
Table 157 Paccar Inc.: Deals
Table 158 Paccar Inc.: Others
16.1.7 Scania Ab
Table 159 Scania Ab: Business Overview
Figure 71 Scania Ab: Company Snapshot
Table 160 Scania Ab: Products Offered
Table 161 Scania Ab: New Product Developments
Table 162 Scania Ab: Deals
Table 163 Scania Ab: Others
16.1.8 Navistar Inc.
Table 164 Navistar Inc.: Business Overview
Figure 72 Navistar Inc.: Company Snapshot
Table 165 Navistar Inc.: Products Offered
Table 166 Navistar Inc.: New Product Developments
Table 167 Navistar Inc.: Deals
Table 168 Navistar Inc.: Others
16.1.9 Dongfeng Motor Corporation
Table 169 Dongfeng Motor Corporation: Business Overview
Figure 73 Dongfeng Motor Corporation: Company Snapshot
Table 170 Dongfeng Motor Corporation: Products Offered
Table 171 Dongfeng Motor Corporation: Deals
Table 172 Dongfeng Motor Corporation: Others
16.1.10 Proterra
Table 173 Proterra: Business Overview
Figure 74 Proterra: Company Snapshot
Table 174 Proterra: Products Offered
Table 175 Proterra: Deals
Table 176 Proterra: Others
16.1.11 Vdl Groep
Table 177 Vdl Groep: Business Overview
Figure 75 Vdl Groep: Company Snapshot
Table 178 Vdl Groep: Products Offered
Table 179 Vdl Groep: Deals
Table 180 Vdl Groep: Others
16.1.12 Tesla, Inc.
Table 181 Tesla, Inc.: Business Overview
Figure 76 Tesla, Inc.: Company Snapshot
Table 182 Tesla, Inc.: Products Offered
Table 183 Tesla, Inc.: New Product Developments
Table 184 Tesla, Inc: Deals
Table 185 Tesla, Inc: Others
*Business Overview, Products/Services/Solutions Offered, Analyst's View, Key Strengths and Right to Win, Strategic Choices Made, Weaknesses and Competitive Threats, Recent Developments Might Not be Captured in Case of Unlisted Companies.
16.2 Other Key Players
16.2.1 Tata Motors Limited
16.2.2 Workhorse Group
16.2.3 Nikola Corporation
16.2.4 Ashok Leyland
16.2.5 Isuzu Motors Ltd.
16.2.6 Irizar Group
16.2.7 Iveco
16.2.8 Triton Ev
16.2.9 Bollinger Motors
16.2.10 Xos Trucks, Inc.
16.2.11 Atlis Motor Vehicles
16.2.12 Kaiyun Motors
16.2.13 Geely Automobile Holdings Limited
16.2.14 Man Se
16.2.15 Orange Ev
16.2.16 Tevva Motors Limited
16.2.17 Hino Motors
17 Analyst's Recommendations
17.1 North America and Asia-Pacific to be Key Markets for Electric Trucks
17.2 Adoption of Light-Duty Electric Trucks
17.3 Key Growth Opportunities
17.3.1 Improvements in Ev Battery Technology
17.3.2 Demand for Higher Range Vehicles
17.4 Conclusion
18 Appendix
18.1 Insights from Industry Experts
18.2 Discussion Guide
18.3 Knowledgestore: The Subscription Portal
18.4 Customization Options
Companies Mentioned
- Ab Volvo
- Ashok Leyland
- Atlis Motor Vehicles
- Bollinger Motors
- BYD
- Dongfeng Motor Corporation
- Ford Motor Company
- Geely Automobile Holdings Limited
- Hino Motors
- Irizar Group
- Isuzu Motors Ltd.
- Iveco
- Kaiyun Motors
- Man Se
- Mercedes Benz Group Ag
- Navistar Inc.
- Nikola Corporation
- Orange Ev
- Paccar Inc.
- Proterra
- Rivian
- Scania Ab
- Tata Motors Limited
- Tesla, Inc.
- Tevva Motors Limited
- Triton Ev
- Vdl Groep
- Workhorse Group
- Xos Trucks, Inc.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 247 |
| Published | February 2023 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value in 2022 | 101499 Units |
| Forecasted Market Value by 2030 | 1067985 Units |
| Compound Annual Growth Rate | 34.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 29 |
