Europe Electric Trucks Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Propulsion, Vehicle Type, Range, and Level of Automation

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The Europe electric trucks market is expected to grow from US$ 1,937.33 million in 2022 to US$ 10,949.98 million by 2028. It is estimated to grow at a CAGR of 33.5% from 2022 to 2028.

In the past few years, government initiatives to promote the adoption of advanced transportation solutions such as electrification in both light and heavy vehicles. The first factor accelerating the use of electric components in heavy vehicles, such as tractors and agricultural machinery, is pressure from legislators and authorities for emissions control to reduce carbon dioxide and boost fuel efficiency. Integrating electrification in the automotive industry would significantly enhance ambient air quality standards in urban areas. Secondly, there would be a rising concern towards corporate social responsibility for major fleets and operators to maintain environmental ethics. Trucks with ranges from 150-300 km, with batteries, are supposed to play a vital role in urban areas where concern for air quality is high, and therefore need for stringent emissions laws is mandatory.

Furthermore, according to the International Energy Association (IEA), governments spent US$ 14,000 million on direct purchase incentives and tax exemptions for electric vehicles in 2020. Additionally, several governments responded to the economic slowdown brought by the COVID-19 epidemic with incentive programs and tax concessions that helped boost electric vehicle sales. Thus, the electric trucks market is growing due to the abovementioned factors.

Vendors can attract new customers and expand their footprints in emerging markets with new features and technologies. This factor is likely to drive the Europe electric trucks market at a healthy CAGR during the forecast period.

Europe Electric Trucks Market Revenue and Forecast to 2028 (US$ Million)

Europe Electric Trucks Market Segmentation

The Europe electric trucks market is segmented on the basis of propulsion type, vehicle type, range, level of automation, and country.

Based on propulsion, the market is segmented into BEV, FCV, and PHEV. The BEV segment is the dominant one in 2022 and is expected to be the fastest-growing segment during the forecast period.

Based on vehicle type, the market is bifurcated into LCVs and medium & HCVs. The LCV segment is the dominant one in 2022 and is expected to be the fastest-growing segment during the forecast period.

Based on range, the market is segmented into less than 200 miles and more than 200 miles. The more than 200 miles segment has emerged as the dominating one in 2022 and is expected to be the fastest-growing segment during the forecast period.

Based on level of automation, the market is segmented into semi-autonomous and fully autonomous. The fully autonomous segment has been dominant in 2022 and is expected to be the fastest-growing segment during the forecast period.

Based on country, the regional market is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe.

AB Volvo; BYD Company Ltd.; Daimler AG; FAW Group Co., Ltd; Navistar, Inc.; PACCAR Inc.; Proterra Inc.; Rivian; Scania; and Tesla, Inc. are leading companies in the Europe electric trucks market.

Reasons to Buy:

Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Europe electric trucks market.
Highlights key business priorities in order to assist companies to realign their business strategies
The key findings and recommendations highlight crucial progressive industry trends in the Europe electric trucks market, thereby allowing players across the value chain to develop effective long-term strategies
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
Scrutinize in-depth Europe market trends and outlook coupled with the factors driving the electric trucks market, as well as those hindering it
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution

Product Code: BMIRE00025895

1. Introduction

1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
- 1.3.1 Europe Electric Trucks Market - By Propulsion
- 1.3.2 Europe Electric Trucks Market - By Vehicle Type
- 1.3.3 Europe Electric Trucks Market - By Range
- 1.3.4 Europe Electric Trucks Market - By Level of Automation
- 1.3.5 Europe Electric Trucks Market - By Country

2. Key Takeaways

3. Research Methodology

3.1 Coverage
3.2 Secondary Research
3.3 Primary Research

4. Europe Electric Trucks Market Landscape

4.1 Market Overview
4.2 Europe PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion

5. Europe Electric Trucks Market - Key Market Dynamics

5.1 Market Drivers
- 5.1.1 Government Initiatives and Stringent Emission Rules to Boost the Electric Trucks Growth
- 5.1.2 Surge in Production and Sales of EVs
5.2 Market Restraints
- 5.2.1 Low Penetration of Electric Powertrain in Heavy Commercial Vehicles (HCV)
5.3 Market Opportunities
- 5.3.1 Manufacturing of Self-Driving Truck Technology
5.4 Future Trends
- 5.4.1 Smart Charging and Connected Infrastructure
5.5 Impact Analysis of Drivers and Restraints

6. Electric Trucks Market - Europe Market Analysis

6.1 Europe Electric Trucks Market Overview
6.2 Europe Electric Trucks Market Forecast and Analysis

7. Europe Electric Trucks Market Revenue and Forecast to 2028 - Type

7.1 Overview
7.2 Europe Electric Trucks Market, By Propulsion Type (2021 and 2028)
7.3 BEV
- 7.3.1 Overview
- 7.3.2 BEV: Electric Trucks Market - Revenue and Forecast to 2028 (US$ Million)
7.4 PHEV
- 7.4.1 Overview
- 7.4.2 PHEV: Electric Trucks Market - Revenue and Forecast to 2028 (US$ Million)
7.5 FCV
- 7.5.1 Overview
- 7.5.2 FCV: Electric Trucks Market - Revenue and Forecast to 2028 (US$ Million)

8. Europe Electric Trucks Market - By Vehicle Type

8.1 Overview
8.2 Europe Electric Trucks Market, By Vehicle Type (2021 and 2028)
8.3 LCV
- 8.3.1 Overview
- 8.3.2 LCV: Electric Trucks Market - Revenue and Forecast to 2028 (US$ Million)
8.4 Medium and HCV
- 8.4.1 Overview
- 8.4.2 Medium and HCV: Electric Trucks Market - Revenue and Forecast to 2028 (US$ Million)

9. Europe Electric Trucks Market - By Range

9.1 Overview
9.2 Europe Electric Trucks Market, By Range (2021 and 2028)
9.3 Less than 200 miles
- 9.3.1 Overview
- 9.3.2 Less than 200 miles: Electric Trucks Market - Revenue and Forecast to 2028 (US$ Million)
9.4 More than 200 miles
- 9.4.1 Overview
- 9.4.2 More than 200 miles: Electric Trucks Market - Revenue and Forecast to 2028 (US$ Million)

10. Europe Electric Trucks Market - By Level of Automation

10.1 Overview
10.2 Europe Electric Trucks Market, By Level of Automation (2021 and 2028)
10.3 Semi-Autonomous
- 10.3.1 Overview
- 10.3.2 Semi-Autonomous: Electric Trucks Market - Revenue and Forecast to 2028 (US$ Million)
10.4 Fully-Autonomous
- 10.4.1 Overview
- 10.4.2 Fully-Autonomous: Electric Trucks Market - Revenue and Forecast to 2028 (US$ Million)

11. Europe Electric Trucks Market -Country Analysis

11.1 Overview
- 11.1.1 Europe: Electric Trucks Market, by Key Country
  - 11.1.1.1 Germany: Electric Trucks Market - Revenue and Forecast to 2028 (US$ Million)
    - 11.1.1.1.1 Germany: Electric Trucks Market, By Propulsion Type
    - 11.1.1.1.2 Germany: Electric Trucks Market, By Vehicle Type
    - 11.1.1.1.3 Germany: Electric Trucks Market, By Range
    - 11.1.1.1.4 Germany: Electric Trucks Market, By Level of Automation
  - 11.1.1.2 France: Electric Trucks Market - Revenue and Forecast to 2028 (US$ Million)
    - 11.1.1.2.1 France: Electric Trucks Market, By Propulsion Type
    - 11.1.1.2.2 France: Electric Trucks Market, By Vehicle Type
    - 11.1.1.2.3 France: Electric Trucks Market, By Range
    - 11.1.1.2.4 France: Electric Trucks Market, By Level of Automation
  - 11.1.1.3 Italy: Electric Trucks Market - Revenue and Forecast to 2028 (US$ Million)
    - 11.1.1.3.1 Italy: Electric Trucks Market, By Propulsion Type
    - 11.1.1.3.2 Italy: Electric Trucks Market, By Vehicle Type
    - 11.1.1.3.3 Italy: Electric Trucks Market, By Range
    - 11.1.1.3.4 Italy: Electric Trucks Market, By Level of Automation
  - 11.1.1.4 UK: Electric Trucks Market - Revenue and Forecast to 2028 (US$ Million)
    - 11.1.1.4.1 UK: Electric Trucks Market, By Propulsion Type
    - 11.1.1.4.2 UK: Electric Trucks Market, By Vehicle Type
    - 11.1.1.4.3 UK: Electric Trucks Market, By Range
    - 11.1.1.4.4 UK: Electric Trucks Market, By Level of Automation
  - 11.1.1.5 Russia: Electric Trucks Market - Revenue and Forecast to 2028 (US$ Million)
    - 11.1.1.5.1 Russia: Electric Trucks Market, By Propulsion Type
    - 11.1.1.5.2 Russia: Electric Trucks Market, By Vehicle Type
    - 11.1.1.5.3 Russia: Electric Trucks Market, By Range
    - 11.1.1.5.4 Russia: Electric Trucks Market, By Level of Automation
  - 11.1.1.6 Rest of Europe: Electric Trucks Market - Revenue and Forecast to 2028 (US$ Million)
    - 11.1.1.6.1 Rest of Europe: Electric Trucks Market, By Propulsion Type
    - 11.1.1.6.2 Rest of Europe: Electric Trucks Market, By Vehicle Type
    - 11.1.1.6.3 Rest of Europe: Electric Trucks Market, By Range
    - 11.1.1.6.4 Rest of Europe: Electric Trucks Market, By Level of Automation

12. Industry Landscape

12.1 Market Initiative
12.2 New Development

13. Company Profile

13.1 AB Volvo
- 13.1.1 Key Facts
- 13.1.2 Business Description
- 13.1.3 Products and Services
- 13.1.4 Financial Overview
- 13.1.5 SWOT Analysis
- 13.1.6 Key Developments
13.2 BYD Company Ltd
- 13.2.1 Key Facts
- 13.2.2 Business Description
- 13.2.3 Products and Services
- 13.2.4 Financial Overview
- 13.2.5 SWOT Analysis
- 13.2.6 Key Developments
13.3 Daimler AG
- 13.3.1 Key Facts
- 13.3.2 Business Description
- 13.3.3 Products and Services
- 13.3.4 Financial Overview
- 13.3.5 SWOT Analysis
- 13.3.6 Key Developments
13.4 FAW Group Co.,Ltd.
- 13.4.1 Key Facts
- 13.4.2 Business Description
- 13.4.3 Products and Services
- 13.4.4 Financial Overview
- 13.4.5 SWOT Analysis
- 13.4.6 Key Developments
13.5 Navistar, Inc.
- 13.5.1 Key Facts
- 13.5.2 Business Description
- 13.5.3 Products and Services
- 13.5.4 Financial Overview
- 13.5.5 SWOT Analysis
- 13.5.6 Key Developments
13.6 PACCAR Inc.
- 13.6.1 Key Facts
- 13.6.2 Business Description
- 13.6.3 Products and Services
- 13.6.4 Financial Overview
- 13.6.5 SWOT Analysis
- 13.6.6 Key Developments
13.7 Proterra Inc.
- 13.7.1 Key Facts
- 13.7.2 Business Description
- 13.7.3 Products and Services
- 13.7.4 Financial Overview
- 13.7.5 SWOT Analysis
- 13.7.6 Key Developments
13.8 Rivian
- 13.8.1 Key Facts
- 13.8.2 Business Description
- 13.8.3 Products and Services
- 13.8.4 Financial Overview
- 13.8.5 SWOT Analysis
- 13.8.6 Key Developments
13.9 Scania
- 13.9.1 Key Facts
- 13.9.2 Business Description
- 13.9.3 Products and Services
- 13.9.4 Financial Overview
- 13.9.5 SWOT Analysis
- 13.9.6 Key Developments
13.10 Tesla, Inc.
- 13.10.1 Key Facts
- 13.10.2 Business Description
- 13.10.3 Products and Services
- 13.10.4 Financial Overview
- 13.10.5 SWOT Analysis
- 13.10.6 Key Developments

14. Appendix

14.1 About The Insight Partners
14.2 Glossary