- Battery Electric Trucks
- Plug-in Hybrid Electric Trucks
- Fuel Cell Electric Trucks
Electric Trucks Market size was valued at USD 1,387.5 million in 2022 and is poised to grow at a significant CAGR of 8.1% from 2023-2029. The report provides a detailed overview of the global market, and which can be segmented by Propulsion Type, Vehicle Type, and by Application. By propulsion, the global electric trucks market has been segmented into Battery Electric Trucks, Plug-in Hybrid Electric Trucks, and Fuel Cell Electric Trucks. The battery electric trucks segment is likely to be the largest and fastest-growing segment in terms of propulsion type. Based on vehicle type, the global electric trucks market is segmented into Light Duty Trucks, Medium Duty Trucks, Heavy Duty Trucks. Among these, the light duty trucks segment is expected to have the fastest-growing market during the 2022-2028. Based on application, the global electric trucks market is segmented into Logistics, Municipal, Construction, Mining, Others. The logistics segment accounts for the largest share in 2021. Municipal segment is the second-largest share during the forecast period 2022-2028.
Electric Trucks Market Key Development:
- In March 2021, In the current division of Daimler Truck Fuel Cell GmbH & Co., the Volvo Group purchased 50% of the partnership shares. By the end of 2050, the market goal is to create the new joint venture a top global fuel cell manufacturer, assisting the world in making a big advancement toward sustainable and climate-neutral transportation.
- In 2020, Tesla, one of the best-known and most reputable EV producers in the world, has already made plans to significantly lower the cost of their EV batteries over the coming few years. To accomplish this goal over the next 4-5 years, leading battery manufacturers including Panasonic, LG Chem, SK Innovative, CATL, and others have been collaborating with leading EV manufacturers.
Electric Trucks Market Summary
Study Period
2024-2030
Base Year
2023
CAGR
8.1%
Largest Market
North America
Fastest Growing Market
North America
Electric Trucks Market Dynamics
Over the past ten years, the cost of EV batteries has decreased as a result of scientific improvements and the mass manufacture of EV batteries driving the market growth over the forecast years.
North-America Got Significant Share
Electric Trucks Market Regional Analysis
By region, North America is expected to witness the highest market share during the forecast period. It holds a tremendous potential market for global electric trucks due to the presence of key players such as Amazon and USP in the region.
Latin America
Europe
Asia Pacific
Middle East
North America
Key Features of the Reports
- The electric trucks market report provides granular level information about the market size, regional market share, historic market (2018-2022), and forecast (2023-2029)
- The report covers in-detail insights about the competitors overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments, and start-up details that are actively working in the market
- The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
Electric Trucks Market Segmentation
By Propulsion Type
By Vehicle Type
- Light Duty Trucks
- Medium Duty Trucks
- Heavy Duty Trucks
By Application
- Logistics
- Municipal
- Construction
- Mining
- Others
By Geography
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East and Africa
Frequently Asked Questions
The electric trucks market size was valued at USD 1,387.5 million in 2022.
The key segments covered in the restless leg’s syndrome market are technology, components, application, and end-users.
The electric trucks market key players are Thermo Fisher Scientific Inc (US), Abcam plc (UK), Bio-Rad Laboratories Inc (US), PerkinElmer Inc (US), Merck KGaA (Germany), Werfen Company (Spain), Cell Signaling Technology Inc (US), MEDIPAN GmbH (Germany), Sino Biological Inc (China), Danaher Corporation (US), Maravai LifeSciences (US), Enzo Biochem Inc (US)
| 1.Executive Summary |
| 2.Global Electric Trucks Market Introduction |
| 2.1.Global Electric Trucks Market - Taxonomy |
| 2.2.Global Electric Trucks Market - Definitions |
| 2.2.1.Propulsion Type |
| 2.2.2.Vehicle Type |
| 2.2.3.Application |
| 2.2.4.Region |
| 3.Global Electric Trucks Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Product Landscape |
| 3.6. New Product Launches |
| 3.7. Impact of COVID 19 on Market |
| 4.Global Electric Trucks Market Analysis, 2018 - 2022 and Forecast 2023 - 2029 |
| 4.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million) |
| 4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5.Global Electric Trucks Market By Propulsion Type, 2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million) |
| 5.1. Battery Electric Trucks |
| 5.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million) |
| 5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Plug-in Hybrid Electric Trucks |
| 5.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million) |
| 5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Fuel Cell Electric Trucks |
| 5.3.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million) |
| 5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 6.Global Electric Trucks Market By Vehicle Type, 2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million) |
| 6.1. Light Duty Trucks |
| 6.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million) |
| 6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Medium Duty Trucks |
| 6.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million) |
| 6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Heavy Duty Trucks |
| 6.3.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million) |
| 6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 7.Global Electric Trucks Market By Application, 2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million) |
| 7.1. Logistics |
| 7.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million) |
| 7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Municipal |
| 7.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million) |
| 7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Construction |
| 7.3.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million) |
| 7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Mining |
| 7.4.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million) |
| 7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 7.5. Others |
| 7.5.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million) |
| 7.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.5.3. Market Opportunity Analysis |
| 8.Global Electric Trucks Market By Region, 2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million) |
| 8.1. North America |
| 8.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million) |
| 8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.1.3. Market Opportunity Analysis |
| 8.2. Europe |
| 8.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million) |
| 8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.2.3. Market Opportunity Analysis |
| 8.3. Asia Pacific (APAC) |
| 8.3.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million) |
| 8.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.3.3. Market Opportunity Analysis |
| 8.4. Middle East and Africa (MEA) |
| 8.4.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million) |
| 8.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.4.3. Market Opportunity Analysis |
| 8.5. Latin America |
| 8.5.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million) |
| 8.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.5.3. Market Opportunity Analysis |
| 9.North America Electric Trucks Market ,2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million) |
| 9.1. Propulsion Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1.Battery Electric Trucks |
| 9.1.2.Plug-in Hybrid Electric Trucks |
| 9.1.3.Fuel Cell Electric Trucks |
| 9.2. Vehicle Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.2.1.Light Duty Trucks |
| 9.2.2.Medium Duty Trucks |
| 9.2.3.Heavy Duty Trucks |
| 9.3. Application Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.3.1.Logistics |
| 9.3.2.Municipal |
| 9.3.3.Construction |
| 9.3.4.Mining |
| 9.3.5.Others |
| 9.4. Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.4.1.United States of America (USA) |
| 9.4.2.Canada |
| 10.Europe Electric Trucks Market ,2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million) |
| 10.1. Propulsion Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1.Battery Electric Trucks |
| 10.1.2.Plug-in Hybrid Electric Trucks |
| 10.1.3.Fuel Cell Electric Trucks |
| 10.2. Vehicle Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1.Light Duty Trucks |
| 10.2.2.Medium Duty Trucks |
| 10.2.3.Heavy Duty Trucks |
| 10.3. Application Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.3.1.Logistics |
| 10.3.2.Municipal |
| 10.3.3.Construction |
| 10.3.4.Mining |
| 10.3.5.Others |
| 10.4. Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.4.1.Germany |
| 10.4.2.France |
| 10.4.3.Italy |
| 10.4.4.United Kingdom (UK) |
| 10.4.5.Spain |
| 10.4.6.Rest of EU |
| 11.Asia Pacific (APAC) Electric Trucks Market ,2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million) |
| 11.1. Propulsion Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1.Battery Electric Trucks |
| 11.1.2.Plug-in Hybrid Electric Trucks |
| 11.1.3.Fuel Cell Electric Trucks |
| 11.2. Vehicle Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1.Light Duty Trucks |
| 11.2.2.Medium Duty Trucks |
| 11.2.3.Heavy Duty Trucks |
| 11.3. Application Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.3.1.Logistics |
| 11.3.2.Municipal |
| 11.3.3.Construction |
| 11.3.4.Mining |
| 11.3.5.Others |
| 11.4. Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.4.1.China |
| 11.4.2.India |
| 11.4.3.Australia and New Zealand (ANZ) |
| 11.4.4.Japan |
| 11.4.5.Rest of APAC |
| 12.Middle East and Africa (MEA) Electric Trucks Market ,2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million) |
| 12.1. Propulsion Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1.Battery Electric Trucks |
| 12.1.2.Plug-in Hybrid Electric Trucks |
| 12.1.3.Fuel Cell Electric Trucks |
| 12.2. Vehicle Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1.Light Duty Trucks |
| 12.2.2.Medium Duty Trucks |
| 12.2.3.Heavy Duty Trucks |
| 12.3. Application Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.3.1.Logistics |
| 12.3.2.Municipal |
| 12.3.3.Construction |
| 12.3.4.Mining |
| 12.3.5.Others |
| 12.4. Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.4.1.GCC Countries |
| 12.4.2.South Africa |
| 12.4.3.Rest of MEA |
| 13.Latin America Electric Trucks Market ,2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million) |
| 13.1. Propulsion Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.1.1.Battery Electric Trucks |
| 13.1.2.Plug-in Hybrid Electric Trucks |
| 13.1.3.Fuel Cell Electric Trucks |
| 13.2. Vehicle Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.2.1.Light Duty Trucks |
| 13.2.2.Medium Duty Trucks |
| 13.2.3.Heavy Duty Trucks |
| 13.3. Application Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.3.1.Logistics |
| 13.3.2.Municipal |
| 13.3.3.Construction |
| 13.3.4.Mining |
| 13.3.5.Others |
| 13.4. Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.4.1.Brazil |
| 13.4.2.Mexico |
| 13.4.3.Rest of LA |
| 14. Competition Landscape |
| 14.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
| 14.2.1.Thermo Fisher Scientific Inc (US) |
| 14.2.2.Abcam plc (UK) |
| 14.2.3.Bio-Rad Laboratories Inc (US) |
| 14.2.4.PerkinElmer Inc (US) |
| 14.2.5.Merck KGaA (Germany) |
| 14.2.6.Werfen Company (Spain) |
| 14.2.7.Cell Signaling Technology Inc (US) |
| 14.2.8.MEDIPAN GmbH (Germany) |
| 14.2.9.Sino Biological Inc (China) |
| 14.2.10.Danaher Corporation (US) |
| 14.2.11.Maravai LifeSciences (US) |
| 14.2.12.Enzo Biochem Inc (US) |
| 15. Research Methodology |
| 16. Appendix and Abbreviations |
- Thermo Fisher Scientific Inc (US)
- Abcam plc (UK)
- Bio-Rad Laboratories Inc (US)
- PerkinElmer Inc (US)
- Merck KGaA (Germany)
- Werfen Company (Spain)
- Cell Signaling Technology Inc (US)
- MEDIPAN GmbH (Germany)
- Sino Biological Inc (China)
- Danaher Corporation (US)
- Maravai LifeSciences (US)
- Enzo Biochem Inc (US)