Increased stringent government policies to control vehicle emissions and incentives policies to buy electric trucks in various countries such as China, the US, Germany, and Japan are the major driving factors for the global electric truck market. Global Electric Truck Market is segmented by Truck Type (Medium Duty and Heavy Duty), Material (Battery, Plug-In Hybrid, Hybrid, and Hydrogen Fuel Cell), Application (Logistic, Municipal, Others) and Region.
Electric Truck Market Key Players Analyzed in Report:
The prominent players in the electric truck market include Dongfeng Motor Corporation (China), Foton Motor Inc. (China), Daimler AG (China), AB Volvo (Sweden), FAW Group Co., Ltd. (China), and China National Heavy Duty Truck Group Co., Ltd., (China). PACCAR Inc. (US), Navistar, Inc. (US), Isuzu Motors Ltd (Japan), and BYD Auto Co., Ltd. (China) are among others.
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Market Scenario:
The global Electric Truck Market is highly competitive. The market players are leveraging various strategies such as acquisitions, partnerships, and investments to stay ahead of the competition in the global Electric Truck Market. The market participants are trying to come up with advancements in the Electric Truck.
The electric truck is a commercial vehicle that is powered through electricity. Electric trucks are a highly preferred alternative to fuel-based commercial vehicles as they are cost-effective compared to fuel based commercial vehicles and less polluting. Electric trucks are commonly used in logistic services, municipal bodies, and others.
Increased per capita disposable income, continuous increasing fuel prices, and continuous increase in the transport activities will further drive the growth of the electric trucks market. Continuously decreasing price of the battery will draw the consumer’s attraction towards, electric mobility, which would further enhance the market revenue for the electric trucks. Moreover, due to the less operating cost associated with electric mobility and increased efforts from the side of manufacturers such as discounts on additional features or packages in the electric truck will boost the sales of the electric trucks during the forecast period. The governments in various regions such as those in Europe and North America started imposing stricter emissions targets.
Government of different countries are planning to find ways to incentives fleets owner in electric trucks which result in lower vehicle emission level and opportunities for new entrants in the global market for electric trucks market. Growing demand for smart transport, government backing for purchase of smart automobiles, and increased charging infrastructure around the different parts of the world will further boost the market growth for the electric trucks and open up new opportunities for new players in the market. However, it is estimated that the high prices of the electric truck hampers the revenue for the electric truck market.
Segmentation:
Global electric truck market is segmented on the basis of truck type, charge type, application, and region. On the basis of truck type, the market has been segmented into medium duty and heavy duty. On the basis of charge type, the market has been segmented into battery, plug-in hybrid, hybrid, and hydrogen fuel cell. On the basis of application, the market has been segmented into logistic, municipal, and others.
Regional Analysis:
Geographically, the global electric truck market has been segmented into the four major regions of North America, Europe, Asia-Pacific, and the Rest of the World. It is expected that China, Europe, and North America will account for more than 70% of total sales of electric trucks. Moreover, the growing concern for environment pollution through internal combustion engine vehicles will play a crucial role in the development of the market size for global electric trucks market.
The report for Global Electric Truck Market of Market Research Future covers extensive primary research. This is accompanied with detailed analysis of qualitative and quantitative aspects by various industry experts and key opinion leaders to gain deeper insights into the market and industry performance. The report gives a clear picture of the current market scenario, which includes the historical and forecasted market size, in terms of value and volume, technological advancement, macroeconomic, and governing factors of the market. The report provides comprehensive information about the strategies of the top companies in the industry, along with a broad study of the different market segments and regions.
Major Table of Contents:
Table 1 Global Electric Truck Market: By Region, 2018-2023
Table 2 North America Electric Truck Market: By Country, 2018-2023
Table 3 Europe Electric Truck Market: By Country, 2018-2023
Table 4 Asia-Pacific Electric Truck Market: By Country, 2018-2023
Table 5 RoW Electric Truck Market: By Country, 2018-2023
Table 6 Global Electric Truck Market, By Truck Type, By Regions, 2018-2023
Table 7 North America Electric Truck Market, By Truck Type, By Country, 2018-2023
Continued…
List of Figures:
FIGURE 1 Research Process Of MRFR
FIGURE 2 Top Down & Bottom Up Approach
FIGURE 3 Market Dynamics
FIGURE 4 Impact Analysis: Market Drivers
FIGURE 5 Impact Analysis: Market Restraints
FIGURE 6 Porter’s Five Forces Analysis
FIGURE 7 Value Chain Analysis
FIGURE 8 Global Electric Truck Market SHARE, By Truck Type, 2016 (%)
Continued…
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