Electric Trucks Market Scope
The electric truck is a commercial vehicle which is channeled or powered through electricity. These Electric trucks are a commonly preferred alternate for fuel-based commercial vehicles, cost-effective and less polluting in nature. These trucks are majorly used in logistic services, trading, and others. Rising demand and need for smart transport and smart automobiles around the different parts of the world will further boost the market growth for the electric trucks.
The market study is being classified by Type (Light & Medium-duty Truck and Heavy-duty Truck), by Application (Logistics and Municipal) and major geographies with country level break-up.
Research Analyst at AMA predicts that Global Vendors will contribute to the maximum growth of Global Electric Trucks market throughout the predicted period.
Dongfeng Motor Corporation (China), Foton Motor Inc. (China), Daimler AG (China), AB Volvo (Sweden), FAW Group Co., Ltd. (China), China National Heavy-Duty Truck Group Co., Ltd., (China), PACCAR Inc. (United States), Navistar, Inc. (United States), Isuzu Motors Ltd (Japan), BYD Auto Co., Ltd. (China) and BAIC (China) are some of the key players profiled in the study.
AdvanceMarketAnalytics has segmented the market of Global Electric Trucks market by Type, Application and Region.
On the basis of geography, the market of Electric Trucks has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Component Type, the sub-segment i.e. 12v Battery will boost the Electric Trucks market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Vehicle Type, the sub-segment i.e. Battery Electric Vehicle (BEV) will boost the Electric Trucks market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Battery Type, the sub-segment i.e. Lead Acid Battery will boost the Electric Trucks market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
In March 2019, Yamato Transport Co., Ltd. (Yamato Transport) announced that it has jointly developed a compact commercial electric track for home delivery with StreetScooter GmbH (Aachen, Germany), a Post DHL Group company, and signed a purchase agreement on March 27th, 2019.
In 2018, Volvo Trucks announced that they will introduce all-electric truck demonstrators in California in 2019, and commercialize them in the North American region by 2020. The trucks will deploy eight multi-configuration battery Class 8 electric demonstration units (GVW +15 tons). This initiative of the company is anticipated to reduce approximately 3.57 tons of air pollution and 3,020 tons of greenhouse gases annually.
- Adoption of Electric Trucks for Urban Logistics
- Need for Fuel-Efficient and Emission-Free Vehicles
- Need for Heavy Trucks for Import and Export Purposes
- Growing Demand for Longer Electric Truck Range
- Government Support for Electric Commercial Vehicles
- Growing Needs for Electric Trucks in both Developed and Developing Countries
- Few Supportive Charging Stations across the Globe
- High Development Costs
- Issues with Recharging the Batteries Again And Again
- Limited Battery Power in Electrical Trucks
Key Target AudienceElectric truck suppliers, Electric truck system/component manufacturers, Dealers and distributors of electric truck components and systems, Industry associations, Raw material suppliers, Automobile organizations/associations and Automotive Original Equipment Manufacturers (OEM)
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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