The global electric commercial truck market is anticipated to grow at a significant CAGR of 22.3% during the forecast period. Due to growing environmental concerns, governments across the globe are focusing on enacting emission norms and laws to reduce vehicle emissions. The government norms and laws are targeting to reduce nitrogen oxides (NOx), and carbon dioxide (CO2) in the air. Increasing focus of the government on emission-free vehicles would drive the adoption of electric trucks in various industries.
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Additionally, government pressure on vehicle manufactures to reduce carbon emissions caused by fuel and greenhouse gas emissions, pushing manufacturers to develop electric trucks, which will fuel the electric commercial bus market. For instance, in December 2021, EPA finalized Regulations for Greenhouse Gas Emissions from Passenger Cars and Trucks. The final standards would achieve significant GHG emissions reductions along with reductions in other criteria pollutants. The rule would result in substantial public health and welfare benefits while providing consumers with savings from lower fuel costs.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global Electric Commercial Truck Market by Electric Propulsion
- Plug-In Hybrid Electric Truck
- Fuel Cell Electric Truck
- Battery Electric Truck
Global Electric Commercial Truck Market by Application
- Logistics
- Municipal
- Construction
- Mining
- Others
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- AB Volvo
- Cityfreighter Inc.
- Einride AB
- E-Trucks Europe
- Hitachi Ltd.
- Hyliion Inc.
- Lion Electrique
- Man Truck & Bus SE
- Nikola Corp.
- Rivian Automotive Inc.
- Sandvik AB
- Tata Motors Ltd.
- Tevva Motors Ltd.
- Tesla Inc.
- Via Motors Inc.
- Volkswagen AG
- Volta Trucks
- Workhorse Group
The Report Covers
- Market value data analysis of 2020 and forecast to 2027.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global electric commercial truck market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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