Electric Trucks Market by Propulsion Type, Vehicle Type, Range, Automation, End-Use

List of Tables

The Global Electric Trucks Market is forecasted to grow significantly, with a projected USD 17.78 billion in 2023 at a CAGR of 26.95% and expected to reach a staggering USD 96.27 billion by 2030.

The Cumulative Impact of COVID-19, the Russia-Ukraine Conflict, and High Inflation is expected to have significant long-term effects on the Global Electric Trucks Market. The ongoing research considers the changes in consumer behavior, supply chain disruptions, and government interventions caused by the pandemic. Similarly, the report considers the ongoing political and economic uncertainty in Eastern Europe caused by the Russia-Ukraine Conflict and its potential implications for demand-supply balances, pressure on pricing variants, and import/export and trading. Additionally, the report addresses the impact of High Inflation on the global economy and details fiscal policies measuring and reducing its effects on demand, supply, cash flow, and currency exchange.

Market Segmentation & Coverage:

This research report categorizes the Global Electric Trucks Market in order to forecast the revenues and analyze trends in each of following sub-markets:

Based on Propulsion Type, market is studied across Battery Electric Vehicle, Hybrid Electric Vehicle, and Plug-in Hybrid Electric Vehicle. The Battery Electric Vehicle commanded largest market share of 39.32% in 2022, followed by Hybrid Electric Vehicle.

Based on Vehicle Type, market is studied across Heavy-Duty Electric Truck, Light-Duty Electric Truck, and Medium-Duty Electric Truck. The Light-Duty Electric Truck commanded largest market share of 38.54% in 2022, followed by Medium-Duty Electric Truck.

Based on Range, market is studied across 151-300 Miles, Above 300 Miles, and Upto 150 Miles. The 151-300 Miles commanded largest market share of 38.21% in 2022, followed by Above 300 Miles.

Based on Automation, market is studied across Level 0 (No Driving Automation), Level 1 (Driver Assistance), Level 2 (Partial Driving Automation), Level 3 (Conditional Driving Automation), Level 4 (High Driving Automation), and Level 5 (Full Driving Automation). The Level 2 (Partial Driving Automation) commanded largest market share of 41.34% in 2022, followed by Level 1 (Driver Assistance).

Based on End-Use, market is studied across Distribution Services, Field Services, Last Mile Delivery, Long Haul Transportation, and Refuse Services. The Last Mile Delivery commanded largest market share of 26.32% in 2022, followed by Distribution Services.

Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Asia-Pacific commanded largest market share of 39.65% in 2022, followed by Europe, Middle East & Africa.

Market Statistics:

The report provides market sizing and forecasts across 7 major currencies - USD, EUR, JPY, GBP, AUD, CAD, and CHF; multiple currency support helps organization leaders to make well-informed decisions. In this report, 2018 to 2021 are considered as historical years, 2022 is base year, 2023 is estimated year, and years from 2024 to 2030 are considered as forecast period.

FPNV Positioning Matrix:

The FPNV Positioning Matrix is essential for assessing the Global Electric Trucks Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).

Market Share Analysis:

The Market Share Analysis offers an insightful look at the current state of vendors in a particular market space. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.

The report provides insights on the following pointers:

1. Market Penetration: Provides comprehensive information on the market offered by the key players

2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets

3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments

4. Market Trends: Provides comprehensive understanding of the Cumulative Impact of COVID-19, the Russia-Ukraine Conflict, and the High Inflation

5. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players

6. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:

1. What is the market size and forecast of the Global Electric Trucks Market?

2. What are the inhibiting factors and impact of COVID-19 shaping the Global Electric Trucks Market during the forecast period?

3. Which are the products/segments/applications/areas to invest in over the forecast period in the Global Electric Trucks Market?

4. What is the competitive strategic window for opportunities in the Global Electric Trucks Market?

5. What are the technology trends and regulatory frameworks in the Global Electric Trucks Market?

6. What is the market share of the leading vendors in the Global Electric Trucks Market?

7. What modes and strategic moves are considered suitable for entering the Global Electric Trucks Market?

Product Code: MRR-AE362C875B87

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Limitations
1.7. Assumptions
1.8. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

4.1. Introduction
4.2. Electric Trucks Market, by Propulsion Type, 2022 vs 2030
4.3. Electric Trucks Market, by Vehicle Type, 2022 vs 2030
4.4. Electric Trucks Market, by Range, 2022 vs 2030
4.5. Electric Trucks Market, by Automation, 2022 vs 2030
4.6. Electric Trucks Market, by End-Use, 2022 vs 2030
4.7. Electric Trucks Market, by Region, 2022 vs 2030

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Increasing government regulations to promote e-mobility to reduce gas emissions
  - 5.1.1.2. Inclination towards electric trucks owing to its advantages over the fuel trucks
  - 5.1.1.3. Growing focus to expand electric vehicle charging infrastructure
- 5.1.2. Restraints
  - 5.1.2.1. High manufacturing and maintenance cost associated with electric trucks
- 5.1.3. Opportunities
  - 5.1.3.1. Ongoing development of improved high power lithium ion batteries coupled with integration in electric trucks
  - 5.1.3.2. Increasing investment in self driving technology in electric trucks to improve driver safety
- 5.1.4. Challenges
  - 5.1.4.1. Longer charging times issues with electric trucks
5.2. Market Trends
5.3. Cumulative Impact of COVID-19
5.4. Cumulative Impact of Russia-Ukraine Conflict
5.5. Cumulative Impact of High Inflation
5.6. Porter's Five Forces Analysis
- 5.6.1. Threat of New Entrants
- 5.6.2. Threat of Substitutes
- 5.6.3. Bargaining Power of Customers
- 5.6.4. Bargaining Power of Suppliers
- 5.6.5. Industry Rivalry
5.7. Value Chain & Critical Path Analysis
5.8. Regulatory Framework
5.9. Client Customization

6. Electric Trucks Market, by Propulsion Type

6.1. Introduction
6.2. Battery Electric Vehicle
6.3. Hybrid Electric Vehicle
6.4. Plug-in Hybrid Electric Vehicle

7. Electric Trucks Market, by Vehicle Type

7.1. Introduction
7.2. Heavy-Duty Electric Truck
7.3. Light-Duty Electric Truck
7.4. Medium-Duty Electric Truck

8. Electric Trucks Market, by Range

8.1. Introduction
8.2. 151-300 Miles
8.3. Above 300 Miles
8.4. Upto 150 Miles

9. Electric Trucks Market, by Automation

9.1. Introduction
9.2. Level 0 (No Driving Automation)
9.3. Level 1 (Driver Assistance)
9.4. Level 2 (Partial Driving Automation)
9.5. Level 3 (Conditional Driving Automation)
9.6. Level 4 (High Driving Automation)
9.7. Level 5 (Full Driving Automation)

10. Electric Trucks Market, by End-Use

10.1. Introduction
10.2. Distribution Services
10.3. Field Services
10.4. Last Mile Delivery
10.5. Long Haul Transportation
10.6. Refuse Services

11. Americas Electric Trucks Market

11.1. Introduction
11.2. Argentina
11.3. Brazil
11.4. Canada
11.5. Mexico
11.6. United States

12. Asia-Pacific Electric Trucks Market

12.1. Introduction
12.2. Australia
12.3. China
12.4. India
12.5. Indonesia
12.6. Japan
12.7. Malaysia
12.8. Philippines
12.9. Singapore
12.10. South Korea
12.11. Taiwan
12.12. Thailand
12.13. Vietnam

13. Europe, Middle East & Africa Electric Trucks Market

13.1. Introduction
13.2. Denmark
13.3. Egypt
13.4. Finland
13.5. France
13.6. Germany
13.7. Israel
13.8. Italy
13.9. Netherlands
13.10. Nigeria
13.11. Norway
13.12. Poland
13.13. Qatar
13.14. Russia
13.15. Saudi Arabia
13.16. South Africa
13.17. Spain
13.18. Sweden
13.19. Switzerland
13.20. Turkey
13.21. United Arab Emirates
13.22. United Kingdom

14. Competitive Landscape

14.1. FPNV Positioning Matrix
14.2. Market Share Analysis, By Key Player
14.3. Competitive Scenario Analysis, By Key Player
- 14.3.1. Merger & Acquisition
  - 14.3.1.1. Murugappa Group to acquire a majority stake in an electric truck maker for INR 246 Crores
  - 14.3.1.2. Lordstown Motors factory sale to Foxconn closes
- 14.3.2. Agreement, Collaboration, & Partnership
  - 14.3.2.1. Tevva Inks Lithium-ion Battery Management Partnership for its Electric Trucks
  - 14.3.2.2. Maersk to deploy 300 electric trucks in partnership with Einride
- 14.3.3. New Product Launch & Enhancement
  - 14.3.3.1. Mack Trucks launches its first medium-duty electric truck
  - 14.3.3.2. LION ANNOUNCES LAUNCH OF THE LION5 MEDIUM-DUTY ALL-ELECTRIC TRUCK
- 14.3.4. Investment & Funding
  - 14.3.4.1. Ares to Invest Up to USD 250 Million in "Electric Trucks-as-a-Service" Provider Current Trucking
  - 14.3.4.2. Amazon to invest over EUR 1 billion in electric vans, truck fleet across Europe
- 14.3.5. Award, Recognition, & Expansion
  - 14.3.5.1. Einride brings its electric trucks to UK freight sector in partnership with PepsiCo
  - 14.3.5.2. Tesla confirms Nevada expansion to make more electric trucks

15. List of Company Mentioned

16. Appendix

16.1. Discussion Guide
16.2. License & Pricing

1. AB Volvo

2. Alke s.r.l.

3. BAIC Foton Motor Co., Ltd

4. Bollinger Motors, Inc.

5. BYD Motors Inc.

6. DAF Trucks N.V.

7. Daimler Truck AG

8. Dongfeng Commercial Vehicles Co., Ltd.

9. Epiroc Group

10. FCA US LLC

11. Ford Motor Company

12. General Motors

13. HW ELECTRO Co., Ltd.

14. Isuzu Motors Ltd.

15. Iveco S.p.A.

16. JAC Motors

17. Lion Electric Company

18. Mack Trucks, Inc.

19. Mercedes-Benz Group AG

20. Mitsubishi Fuso Truck and Bus Corporation

21. Navistar, Inc.

22. Nikola Corporation

23. Nissan Motor Co., Ltd.

24. Orange EV

25. Paccar Inc

26. Proterra Inc.

27. Riviann LLC

28. Scania CV AB

29. SEA Electric Group

30. Tata Motors Limited

31. Tesla, Inc.

32. Tevva Motors Limited

33. Toyota Motor Corporation

34. Volkswagen AG

35. Volta Trucks AB

36. Workhorse Group, Inc.

37. Xos, Inc.