Electric Truck Market Size
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Study Period: | 2016 - 2028 |
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Largest Share by Sub Body Type: | Light Commercial Pick-up Trucks |
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Largest Share by Region: | Europe |
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CAGR: | 9.16 % |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Electric Truck Market Analysis
The Electric Truck Market is projected to register a CAGR of 9.16%
- Largest Segment by Vehicle Type - Trucks : Medium-duty trucks are projected to make up over 93% of the global electric truck fleet by 2026, with over 302,000 units in use worldwide.
- Fastest-growing Segment by Vehicle Type - Trucks : The Growth in construction projects, trading, and increase in the logistics usage for heavy carriages is making heavy trucks the fastest-growing body type in commercial vehicle sales globally.
- Largest Segment by Fuel Type - HEV : Battery electric vehicle holds the largest share due to factors such as the growing logistics industry, and stringent emission regulations by the government.
- Largest Segment by Country - US : Electric trucks recorded the largest share of medium and heavy commercial vehicle sales in China, this is because the majority of manufacturers are engaged in producing electric vehicles.
Electric Truck Industry Segmentation
Trucks are covered as segments by Body Type. are covered as segments by Fuel Type. Africa, Asia-Pacific, Europe, Middle East, Miidle East, North America, South America are covered as segments by Region.| Body Type | |||||
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| South America |
Electric Truck Market Trends
This section covers the major market trends shaping the Electric Truck Market according to our research experts:
Light Commercial Pick-up Trucks is the largest segment by Sub Body Type.
To understand key trends, Download Sample Report
Europe is the largest segment by Region.
To understand geography trends, Download Sample Report
Electric Truck Industry Overview
The Electric Truck Market is fragmented, with the top five companies occupying 20.70%. The major players in this market are BYD Motors Inc., Daimler AG, Dongfeng Motor Corporation, Scania AB and Volvo Group (sorted alphabetically).
Electric Truck Market Leaders
BYD Motors Inc.
Daimler AG
Dongfeng Motor Corporation
Scania AB
Volvo Group
*Disclaimer: Major Players sorted in no particular order
Electric Truck Market News
- January 2022: The Volvo Group, Daimler Truck, and the TRATON GROUP completed the final step in forming the previously announced joint venture for charging infrastructure in Europe. The joint venture (JV) plans to install and operate at least 1,700 high-performance green energy charge points on, and close to, highways as well as at logistics hubs across Europe.
- January 2022: Isuzu Motors Limited (Isuzu), DENSO Corporation (DENSO), Toyota Motor Corporation (Toyota), Hino Motors, Ltd. (Hino), and Commercial Japan Partnership Technologies Corporation (CJPT) announced that they have started planning and foundational research on hydrogen engines for heavy-duty commercial vehicles with the aim of further utilizing internal combustion engines as one option to achieve carbon neutrality.
- January 2022: Scania introduces electric trucks for the regional long haul. The new generation, available with R or S sleeper cabs, is part of a complete solution that will open the door to the electrified transport landscape. With 624 kWh of batteries installed, Scania moves towards shifting to electric trucks and their operability in regional long-haul operations.
Electric Truck Market Report - Table of Contents
1. INTRODUCTION
1.1. Study Assumptions & Market Definition
1.2. Scope of the Study
1.3. Research Methodology
2. KEY INDUSTRY TRENDS
2.1. Population
2.2. GDP
2.3. CVP
2.4. Inflation Rate
2.5. Interest Rate For Auto Loans
2.6. Battery Price (per Kwh)
2.7. Logistics Performance Index
2.8. Electrification Impact
2.9. New XEV Models Announced
2.10. Charging Stations Deployment
2.11. Regulatory Framework
2.12. Value Chain & Distribution Channel Analysis
3. MARKET SEGMENTATION
3.1. Body Type
3.1.1. Trucks
3.1.1.1. Heavy-duty Commercial Trucks
3.1.1.2. Light Commercial Pick-up Trucks
3.1.1.3. Medium-duty Commercial Trucks
3.2. Fuel Type
3.3. Region
3.3.1. Africa
3.3.2. Asia-Pacific
3.3.2.1. India
3.3.3. Europe
3.3.4. Middle East
3.3.5. Miidle East
3.3.6. North America
3.3.6.1. Canada
3.3.6.2. Mexico
3.3.6.3. US
3.3.6.4. Rest-of-North America
3.3.7. South America
4. COMPETITIVE LANDSCAPE
4.1. Key Strategic Moves
4.2. Market Share Analysis
4.3. Company Landscape
4.4. Company Profiles
4.4.1. BYD Motors Inc.
4.4.2. Daimler AG
4.4.3. Dongfeng Motor Corporation
4.4.4. Groupe Renault
4.4.5. Hino Motors, Ltd.
4.4.6. Isuzu Motors Ltd
4.4.7. Navistar International Transportation Corporation
4.4.8. PACCAR Inc
4.4.9. Scania AB
4.4.10. Volvo Group
5. KEY STRATEGIC QUESTIONS FOR VEHICLES CEOS
6. APPENDIX
6.1. Global Overview
6.1.1. Overview
6.1.2. Porter’s Five Forces Framework
6.1.3. Global Value Chain Analysis
6.1.4. Market Dynamics (DROs)
6.2. Sources & References
6.3. List of Tables & Figures
6.4. Primary Insights
6.5. Data Pack
6.6. Glossary of Terms
List of Tables & Figures
Figure 1:
ELECTRIC TRUCK MARKET, POPULATION YOY GROWTH RATE, MILLION UNITS, 2016 – 2026
Figure 2:
ELECTRIC TRUCK MARKET, POPULATION YOY GROWTH RATE, MILLION UNITS, 2016 – 2026
Figure 3:
ELECTRIC TRUCK MARKET, POPULATION YOY GROWTH RATE, MILLION UNITS, 2016 – 2026
Figure 4:
ELECTRIC TRUCK MARKET, POPULATION YOY GROWTH RATE, MILLION UNITS, 2016 – 2026
Figure 5:
ELECTRIC TRUCK MARKET, POPULATION YOY GROWTH RATE, MILLION UNITS, 2016 – 2026
Figure 6:
ELECTRIC TRUCK MARKET, POPULATION YOY GROWTH RATE, MILLION UNITS, 2016 – 2026
Figure 7:
ELECTRIC TRUCK MARKET, GDP YOY GROWTH RATE, USD MILLION, 2016 – 2026
Figure 8:
ELECTRIC TRUCK MARKET, GDP YOY GROWTH RATE, USD MILLION, 2016 – 2026
Figure 9:
ELECTRIC TRUCK MARKET, GDP YOY GROWTH RATE, USD MILLION, 2016 – 2026
Figure 10:
ELECTRIC TRUCK MARKET, GDP YOY GROWTH RATE, USD MILLION, 2016 – 2026
Figure 11:
ELECTRIC TRUCK MARKET, GDP YOY GROWTH RATE, USD MILLION, 2016 – 2026
Figure 12:
ELECTRIC TRUCK MARKET, GDP YOY GROWTH RATE, USD MILLION, 2016 – 2026
Figure 13:
ELECTRIC TRUCK MARKET, CVP YOY GROWTH RATE, 2016 – 2027
Figure 14:
ELECTRIC TRUCK MARKET, CVP YOY GROWTH RATE, 2016 – 2027
Figure 15:
ELECTRIC TRUCK MARKET, CVP YOY GROWTH RATE, 2016 – 2027
Figure 16:
ELECTRIC TRUCK MARKET, CVP YOY GROWTH RATE, 2016 – 2027
Figure 17:
ELECTRIC TRUCK MARKET, CVP YOY GROWTH RATE, 2016 – 2027
Figure 18:
ELECTRIC TRUCK MARKET, CVP YOY GROWTH RATE, 2016 – 2027
Figure 19:
ELECTRIC TRUCK MARKET, INFLATION RATE YOY GROWTH RATE, PERCENT, 2016 – 2026
Figure 20:
ELECTRIC TRUCK MARKET, INFLATION RATE YOY GROWTH RATE, PERCENT, 2016 – 2026
Figure 21:
ELECTRIC TRUCK MARKET, INFLATION RATE YOY GROWTH RATE, PERCENT, 2016 – 2026
Figure 22:
ELECTRIC TRUCK MARKET, INFLATION RATE YOY GROWTH RATE, PERCENT, 2016 – 2026
Figure 23:
ELECTRIC TRUCK MARKET, INFLATION RATE YOY GROWTH RATE, PERCENT, 2016 – 2026
Figure 24:
ELECTRIC TRUCK MARKET, INFLATION RATE YOY GROWTH RATE, PERCENT, 2016 – 2026
Figure 25:
ELECTRIC TRUCK MARKET, INTEREST RATE FOR AUTO LOANS YOY GROWTH RATE, PERCENT, 2016 – 2026
Figure 26:
ELECTRIC TRUCK MARKET, INTEREST RATE FOR AUTO LOANS YOY GROWTH RATE, PERCENT, 2016 – 2026
Figure 27:
ELECTRIC TRUCK MARKET, INTEREST RATE FOR AUTO LOANS YOY GROWTH RATE, PERCENT, 2016 – 2026
Figure 28:
ELECTRIC TRUCK MARKET, INTEREST RATE FOR AUTO LOANS YOY GROWTH RATE, PERCENT, 2016 – 2026
Figure 29:
ELECTRIC TRUCK MARKET, INTEREST RATE FOR AUTO LOANS YOY GROWTH RATE, PERCENT, 2016 – 2026
Figure 30:
ELECTRIC TRUCK MARKET, INTEREST RATE FOR AUTO LOANS YOY GROWTH RATE, PERCENT, 2016 – 2026
Figure 31:
ELECTRIC TRUCK MARKET, BATTERY PRICES YOY GROWTH RATE, 2016 – 2026
Figure 32:
ELECTRIC TRUCK MARKET, BATTERY PRICES YOY GROWTH RATE, 2016 – 2026
Figure 33:
ELECTRIC TRUCK MARKET, BATTERY PRICES YOY GROWTH RATE, 2016 – 2026
Figure 34:
ELECTRIC TRUCK MARKET, BATTERY PRICES YOY GROWTH RATE, 2016 – 2026
Figure 35:
ELECTRIC TRUCK MARKET, BATTERY PRICES YOY GROWTH RATE, 2016 – 2026
Figure 36:
ELECTRIC TRUCK MARKET, BATTERY PRICES YOY GROWTH RATE, 2016 – 2026
Figure 37:
ELECTRIC TRUCK MARKET, LPI YOY GROWTH RATE, 2016 – 2026
Figure 38:
ELECTRIC TRUCK MARKET, LPI YOY GROWTH RATE, 2016 – 2026
Figure 39:
ELECTRIC TRUCK MARKET, LPI YOY GROWTH RATE, 2016 – 2026
Figure 40:
ELECTRIC TRUCK MARKET, LPI YOY GROWTH RATE, 2016 – 2026
Figure 41:
ELECTRIC TRUCK MARKET, LPI YOY GROWTH RATE, 2016 – 2026
Figure 42:
ELECTRIC TRUCK MARKET, LPI YOY GROWTH RATE, 2016 – 2026
Figure 43:
ELECTRIC TRUCK MARKET, ELECTRIFICATION IMPACT, VOLUME, YOY GROWTH RATE, PERCENT, 2016 – 2026
Figure 44:
ELECTRIC TRUCK MARKET, CHARGING STATIONS DEPLOYMENT, VOLUME, YOY GROWTH RATE, UNITS, 2016 – 2026
Figure 45:
ELECTRIC TRUCK MARKET, VOLUME IN UNITS, 2016 – 2026
Figure 46:
ELECTRIC TRUCK MARKET, VALUE IN USD, 2016 – 2026
Figure 47:
ELECTRIC TRUCK MARKET, BY SUB BODY TYPE, BY VOLUME IN UNITS, 2016-2028
Figure 48:
ELECTRIC TRUCK MARKET, BY SUB BODY TYPE, BY VALUE IN USD, 2016-2028
Figure 49:
ELECTRIC TRUCK MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2016 - 2028
Figure 50:
ELECTRIC TRUCK MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2016 - 2028
Figure 51:
ELECTRIC TRUCK MARKET, BY HEAVY-DUTY COMMERCIAL TRUCKS, BY VOLUME IN UNITS, 2016-2028
Figure 52:
ELECTRIC TRUCK MARKET, BY HEAVY-DUTY COMMERCIAL TRUCKS, BY VALUE IN USD, 2016-2028
Figure 53:
ELECTRIC TRUCK MARKET MARKET, SHARE(%), BY FUEL TYPE, 2021 - 2028
Figure 54:
ELECTRIC TRUCK MARKET, BY LIGHT COMMERCIAL PICK-UP TRUCKS, BY VOLUME IN UNITS, 2016-2028
Figure 55:
ELECTRIC TRUCK MARKET, BY LIGHT COMMERCIAL PICK-UP TRUCKS, BY VALUE IN USD, 2016-2028
Figure 56:
ELECTRIC TRUCK MARKET MARKET, SHARE(%), BY FUEL TYPE, 2021 - 2028
Figure 57:
ELECTRIC TRUCK MARKET, BY MEDIUM-DUTY COMMERCIAL TRUCKS, BY VOLUME IN UNITS, 2016-2028
Figure 58:
ELECTRIC TRUCK MARKET, BY MEDIUM-DUTY COMMERCIAL TRUCKS, BY VALUE IN USD, 2016-2028
Figure 59:
ELECTRIC TRUCK MARKET MARKET, SHARE(%), BY FUEL TYPE, 2021 - 2028
Figure 60:
ELECTRIC TRUCK MARKET, BY FUEL TYPE, BY VOLUME IN UNITS, 2016-2028
Figure 61:
ELECTRIC TRUCK MARKET, BY FUEL TYPE, BY VALUE IN USD, 2016-2028
Figure 62:
ELECTRIC TRUCK MARKET MARKET, SHARE(%), BY FUEL TYPE, 2016 - 2028
Figure 63:
ELECTRIC TRUCK MARKET MARKET, SHARE(%), BY FUEL TYPE, 2016 - 2028
Figure 64:
ELECTRIC TRUCK MARKET, BY REGION, BY VOLUME IN UNITS, 2016-2028
Figure 65:
ELECTRIC TRUCK MARKET, BY REGION, BY VALUE IN USD, 2016-2028
Figure 66:
ELECTRIC TRUCK MARKET MARKET, SHARE(%), BY REGION, 2016 - 2028
Figure 67:
ELECTRIC TRUCK MARKET MARKET, SHARE(%), BY REGION, 2016 - 2028
Figure 68:
ELECTRIC TRUCK MARKET, BY COUNTRY, BY VOLUME IN UNITS, 2016-2028
Figure 69:
ELECTRIC TRUCK MARKET, BY COUNTRY, BY VALUE IN USD, 2016-2028
Figure 70:
ELECTRIC TRUCK MARKET MARKET, SHARE(%), BY COUNTRY, 2016 - 2028
Figure 71:
ELECTRIC TRUCK MARKET MARKET, SHARE(%), BY COUNTRY, 2016 - 2028
Figure 72:
ELECTRIC TRUCK MARKET, BY COUNTRY, BY VOLUME IN UNITS, 2016-2028
Figure 73:
ELECTRIC TRUCK MARKET, BY COUNTRY, BY VALUE IN USD, 2016-2028
Figure 74:
ELECTRIC TRUCK MARKET MARKET, SHARE(%), BY COUNTRY, 2016 - 2028
Figure 75:
ELECTRIC TRUCK MARKET MARKET, SHARE(%), BY COUNTRY, 2016 - 2028
Figure 76:
ELECTRIC TRUCK MARKET, BY INDIA, BY VOLUME IN UNITS, 2016-2028
Figure 77:
ELECTRIC TRUCK MARKET, BY INDIA, BY VALUE IN USD, 2016-2028
Figure 78:
ELECTRIC TRUCK MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2021 - 2028
Figure 79:
ELECTRIC TRUCK MARKET, BY COUNTRY, BY VOLUME IN UNITS, 2016-2028
Figure 80:
ELECTRIC TRUCK MARKET, BY COUNTRY, BY VALUE IN USD, 2016-2028
Figure 81:
ELECTRIC TRUCK MARKET MARKET, SHARE(%), BY COUNTRY, 2016 - 2028
Figure 82:
ELECTRIC TRUCK MARKET MARKET, SHARE(%), BY COUNTRY, 2016 - 2028
Figure 83:
ELECTRIC TRUCK MARKET, BY COUNTRY, BY VOLUME IN UNITS, 2016-2028
Figure 84:
ELECTRIC TRUCK MARKET, BY COUNTRY, BY VALUE IN USD, 2016-2028
Figure 85:
ELECTRIC TRUCK MARKET MARKET, SHARE(%), BY COUNTRY, 2016 - 2028
Figure 86:
ELECTRIC TRUCK MARKET MARKET, SHARE(%), BY COUNTRY, 2016 - 2028
Figure 87:
ELECTRIC TRUCK MARKET, BY COUNTRY, BY VOLUME IN UNITS, 2016-2028
Figure 88:
ELECTRIC TRUCK MARKET, BY COUNTRY, BY VALUE IN USD, 2016-2028
Figure 89:
ELECTRIC TRUCK MARKET MARKET, SHARE(%), BY COUNTRY, 2016 - 2028
Figure 90:
ELECTRIC TRUCK MARKET MARKET, SHARE(%), BY COUNTRY, 2016 - 2028
Figure 91:
ELECTRIC TRUCK MARKET, BY COUNTRY, BY VOLUME IN UNITS, 2016-2028
Figure 92:
ELECTRIC TRUCK MARKET, BY COUNTRY, BY VALUE IN USD, 2016-2028
Figure 93:
ELECTRIC TRUCK MARKET MARKET, SHARE(%), BY COUNTRY, 2016 - 2028
Figure 94:
ELECTRIC TRUCK MARKET MARKET, SHARE(%), BY COUNTRY, 2016 - 2028
Figure 95:
ELECTRIC TRUCK MARKET, BY CANADA, BY VOLUME IN UNITS, 2016-2028
Figure 96:
ELECTRIC TRUCK MARKET, BY CANADA, BY VALUE IN USD, 2016-2028
Figure 97:
ELECTRIC TRUCK MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2021 - 2028
Figure 98:
ELECTRIC TRUCK MARKET, BY MEXICO, BY VOLUME IN UNITS, 2016-2028
Figure 99:
ELECTRIC TRUCK MARKET, BY MEXICO, BY VALUE IN USD, 2016-2028
Figure 100:
ELECTRIC TRUCK MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2021 - 2028
Figure 101:
ELECTRIC TRUCK MARKET, BY US, BY VOLUME IN UNITS, 2016-2028
Figure 102:
ELECTRIC TRUCK MARKET, BY US, BY VALUE IN USD, 2016-2028
Figure 103:
ELECTRIC TRUCK MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2021 - 2028
Figure 104:
ELECTRIC TRUCK MARKET, BY REST-OF-NORTH AMERICA, BY VOLUME IN UNITS, 2016-2028
Figure 105:
ELECTRIC TRUCK MARKET, BY REST-OF-NORTH AMERICA, BY VALUE IN USD, 2016-2028
Figure 106:
ELECTRIC TRUCK MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2021 - 2028
Figure 107:
ELECTRIC TRUCK MARKET, BY COUNTRY, BY VOLUME IN UNITS, 2016-2028
Figure 108:
ELECTRIC TRUCK MARKET, BY COUNTRY, BY VALUE IN USD, 2016-2028
Figure 109:
ELECTRIC TRUCK MARKET MARKET, SHARE(%), BY COUNTRY, 2016 - 2028
Figure 110:
ELECTRIC TRUCK MARKET MARKET, SHARE(%), BY COUNTRY, 2016 - 2028
Figure 111:
ELECTRIC TRUCK MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2018 - 2021
Figure 112:
ELECTRIC TRUCK MARKET, MOST ADOPTED STRATEGIES, 2018 - 2021
Figure 113:
ELECTRIC TRUCK MARKET SHARE(%), BY MAJOR PLAYERS, 2021
Market Definition
- Body Type - A truck or lorry is a motor vehicle designed to transport cargo, carry specialized payloads, or perform other utilitarian work.
- Engine Type - Hybrid and electric vehicles are vehicles that run on batteries and use one or more electric motors for propulsion. Under this category, electric buses have been included.
- Fuel Type - Hybrid and electric vehicles include HEV, PHEV, BEV, and FCEV.
- Sub Body Type - Under this category heavy-duty commercial trucks, light commercial pickup trucks, and medium-duty commercial trucks have been included.
- Vehicle Type - Commercial vehicles are motorized road vehicles designed for transporting people or goods. The category includes Trucks.
Research Methodology
Mordor Intelligence follows a four-step methodology in all our reports.
- Step-1: Identify Key Variables: In order to build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built on the basis of these variables.
- Step-2: Build a Market Model: Market-size estimations for the historical and forecast years have been provided in revenue and volume terms. For sales conversion to volume, the average selling price (ASP) is kept constant throughout the forecast period for each country, and inflation is not a part of the pricing.
- Step-3: Validate and Finalize: In this important step, all market numbers, variables and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms
