What is 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 Electric Trucks 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.
Analysts at AMA predicts that Vendors from Global 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.
Segmentation Analysis
Analyst at AMA have segmented the market study 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).
Market Influencers and their 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.
Influencing Market Trend
- Adoption of Electric Trucks for Urban Logistics
Market Drivers
- Need for Fuel-Efficient and Emission-Free Vehicles
- Need for Heavy Trucks for Import and Export Purposes
Opportunities
- Growing Demand for Longer Electric Truck Range
- Government Support for Electric Commercial Vehicles
- Growing Needs for Electric Trucks in both Developed and Developing Countries
Restraints
- Few Supportive Charging Stations across the Globe
- High Development Costs
Challenges
- Issues with Recharging the Batteries Again And Again
- Limited Battery Power in Electrical Trucks
Key Target Audience
Electric 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)
Customization available in this Study:
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