Electric Truck Market 2023-2028: Industry Size, Share, Top Companies Growth and Forecast

by Zayn Mathew Market Research Reports

According to the latest report by IMARC Group, titled, “Electric Truck Market Share : Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, the global electric truck market size reached US$ 515.1 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 2,556.1 Million by 2028, exhibiting a growth rate (CAGR) of 32.2% during 2023-2028.

Electric trucks are electronic vehicles that run on batteries powered by the power grid. They are considered an efficient and cost-effective alternative to conventional fossil fuel trucks as they emit low CO2 emissions from vehicles, contributing to a greener environment. These trucks are extensively used in the commercial sector to deliver cargo due to their increased battery storage capacity.

Electric Truck Market Trends:

The global electric truck market is primarily driven by various government initiatives and regulations that promote the adoption of zero-emission vehicles. The low maintenance cost of the electric trucks has also escalated their demand across several sectors such as logistics, municipal, construction, and mining. Besides this, the improvement in the electronic charging infrastructure and the utilization of magnetic resonance for wireless vehicle charging also acts as other growth-inducing factors. Furthermore, with the growing e-commerce sector, electric trucks are widely used to deliver products to remote locations. These factors are providing a positive thrust to the market growth.

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Global Electric Truck 2023-2028 Analysis and Segmentation:

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global electric truck market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include VolvoGroup, BYD Company Ltd., Mercedes-Benz Group AG, China FAW Group Co. Ltd., Isuzu Motors Ltd, Navistar Inc., PACCAR Inc., Rivian Automotive, Inc., Volkswagen AG, Tata Motors Limited, Tesla, Inc., Tevva Motors Limited., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

The report has segmented the market on the based on region, vehicle type, propulsion, range and application.

Breakup by Vehicle Type:

Light-duty Truck
Medium-duty Truck
Heavy-duty Truck

Breakup by Propulsion:

Battery Electric Truck
Hybrid Electric Truck
Plug-in Hybrid Electric Truck
Fuel Cell Electric Truck

Breakup by Range:

0-150 Miles
151-300 Miles
Above 300 Miles

Breakup by Application:

Logistics
Municipal
Construction
Mining
Others

Breakup by Region:

North America:(United State,Canada)
Asia-Pacific:(China, Japan,India, South Korea,Australia, Indonesia,Others)
Europe: (Germany,France,United Kingdom,Italy,Spain,Russia,Others
Latin America: (Brazi,Mexico,Others)
Middle East and Africa

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