Favorable Government Regulations to Push Asia-Pacific Electric Truck Market till 2024

Declining battery prices and low operating and maintenance costs of electric trucks to drive Asia-Pacific electric truck market through 2024

According to TechSci Research report, “Asia-Pacific Electric Truck Market By Vehicle Type, By Type, By Range, By Application, By Country, Competition, Forecast & Opportunities, 2024”, Asia-Pacific electric truck market is projected to grow at a double-digit CAGR during 2019-2024, as governments across the region are focusing on reducing carbon emissions and tackling greenhouse gas emissions. Moreover, technological advancements in the electric vehicle field, low operating and maintenance costs and depreciating prices of trucks are expected to boost the adoption of electric trucks in the region.  

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https://www.techsciresearch.com/report/asia-pacific-electric-truck-market/3994.html

In terms of type, the region’s electric truck market can be segmented into battery electric vehicle (BEV), hybrid electric vehicle (HEV), plug-in hybrid electric vehicle (PHEV) and fuel-cell electric vehicle (FCEV). BEV segment is expected to witness significant adoption in Asia-Pacific in the coming years, on account of decreasing battery prices. Moreover, advancements in Li-ion batteries make them light weight with long lifespan. Electric truck finds applications in logistics, mining and construction sectors. Logistics sector would dominate the region’s electric truck market in coming years, backed by growing logistics and e-commerce industries.

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Created on May 24th 2019 05:03. Viewed 636 times.

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