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GLOBAL ELECTRIC TRUCKS MARKET FORECAST 2023-2032

SCOPE OF THE REPORT

Global Electric Trucks Market by Type (BEV, PHEV, FCV) Market by Vehicle Type (LCV, Medium & HCV) Market by Range (Less Than 200 Miles, More Than 200 Miles) Market by Level of Automation (Semi-autonomous, Fully Autonomous) by Geography


MARKET OVERVIEW

In terms of revenue, the global electric trucks market was valued at $xx billion in 2022 and is expected to reach $xx billion by 2032, growing at a CAGR of 30.30% during the forecast period 2023-2032

Global environmental concerns have encouraged the shift towards electric vehicles, and these automobiles observe significant demand in the present scenario. Electric trucks are commercial vehicles used for logistics purposes, preferred over conventional diesel trucks due to their high efficiency and lower maintenance costs.

Electric truck motors are also less complicated and have fewer moving components. Furthermore, these vehicles do not require multi-speed transmissions, which lowers maintenance costs and increases vehicle dependability while producing almost no noise.

Read our latest blog on the Electric Trucks Market

GROWTH ENABLERS

Key growth enablers of the global electric trucks market:

  • Government initiatives supporting e-mobility growth
  • Surging demand for EVs due to global climate change concerns
  • Rising environmental concerns about greenhouse gas emissions have led to an increasing shift towards electric vehicles. As a result, there has been a rising demand for low-carbon technology in the transportation sector.
  • EVs also offer a wide variety of options in terms of models as well as product features. Moreover, these vehicles are affordable and more efficient than diesel vehicles, as well.
  • Hence there has been a rising demand for electric vehicles, primarily due to global climate change concerns, which is expected to play an important role in fueling the global market’s growth.
  • Logistics sector’s rising demand for medium & heavy-duty electric trucks 

GROWTH RESTRAINTS

Key growth restraining factors:

  • Absence of effective vehicle charging systems
  • The pressing need for electric trucks due to rising environmental concerns will likely remain unmet owing to the absence of proper charging systems for these vehicles.
  • Furthermore, charging stations require skilled labor to manage and maintain electric vehicles.
  • Most public charging stations have level 1 or 2 chargers with the capacity to fully recharge an electric truck in 8-16 hours. On the other hand, level 3 chargers can effectively charge in 1 hour; however, the lack of these chargers at public charging stations may hamper the market growth.
  • Hence, the dearth of charging stations, in addition to the shortage of electric components used in electric vehicles, are among the key challenges faced by the global electric trucks market.  
  • High manufacturing cost of existing electric trucks

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KEY MARKET TRENDS

Global Electric Trucks Market | Key Market Trends

  • Technological advancements like self-driving technology are likely to expand the market during the forecast period. Moreover, autonomous features like ultrasonic sensors, controls, and telematics features also provide lucrative opportunities for the market’s growth.
  • An increase in e-commerce is also likely to propel global market growth. Electric trucks are largely utilized to deliver consumer goods. In this regard, a higher number of electric trucks are being considered, since they reduce the company’s cost and increase delivery efficiency due to their automated features.

MARKET SEGMENTATION

Market Segmentation – Type, Vehicle Type, Range, and Level of Automation – 

Market by Type: 

  • BEV
  • Battery electric vehicles (BEVs) are completely powered by electric batteries and have no gas engine parts.
  • These vehicles offer completely emission-free operations, which is expected to be a necessity in the near future.
  • BEVs also have the advantages of longer battery life, high energy density, and lower battery costs. Hence, these factors are expected to spur the BEV segment’s growth during the forecast period.
  • PHEV
  • FCV

Market by Vehicle Type:

  • LCV
  • Light commercial vehicles (LCVs) have a payload capacity of less than 1815 kg.
  • Commercially-based goods or passenger carrier vehicles, including pickup trucks, vans, and three-wheelers, are examples of light commercial vehicles.
  • In September 2021, Nissan launched a new range of Nissan Townstar LCVs available in van and passenger cars. It also introduced more than 20 technological upgrades, including Trailer Sway Control, ProPILOT feature, Apple Carplay, etc. 
  • Medium & HCV

Market by Range:

  • Less Than 200 Miles
  • More Than 200 Miles
  • Electric trucks with a range of more than 200 miles offer high towing capacities, reliable payload ratings, and flexibility.
  • Aligning with this, in September 2020, Kenworth launched two new electric trucks with a range of over 200 miles with fast charging capabilities.

Market by Level of Automation:

  • Semi-Autonomous
  • Fully-Autonomous
  • Fully autonomous trucks are operated using artificial intelligence to control every aspect of the vehicle, even in the absence of any human interactivity.
  • Einride, a Swedish company, delivered the world’s first fully autonomous electric truck in 2021. This vehicle is called a pod and, according to market sources, has outperformed key players such as Tesla. The vehicle is a completely driverless electric truck, comprising features of a remote driver that can control the vehicle if required.

GEOGRAPHICAL STUDY

Geographical Study Based on Four Major Regions:

  • North America: The United States and Canada
  • Europe: The United Kingdom, France, Germany, Spain, Italy, Belgium, Poland, and Rest of Europe
    • In order to meet their goal of zero-emissions, numerous European nations, including Sweden and the Netherlands, in addition to Ireland by 2030, the United Kingdom by 2035, and France by 2040, have declared that they will gradually stop the sale of gasoline and diesel vehicles. As a result, regulations like zero-emission zones are expected to rise during the forecast period, thus raising the demand for electric trucks.
    • The transition to electric trucks and heavy-duty vehicles is increasing significantly, mainly due to the growing pressure from European government officials.
    • In 2022, the European government, under its Alternative Fuels Infrastructure Facility, granted $311.5 million in funding for boosting the growth of zero-emission infrastructure and greener mobility.
    • Hence, the aforementioned factors are set to proliferate the Europe electric trucks market growth over the forecasted period.
  • Asia-Pacific: China, Japan, India, South Korea, Indonesia, Thailand, Vietnam, Australia & New Zealand, and Rest of Asia-Pacific
  • Rest of the World: Latin America, the Middle East & Africa

MAJOR PLAYERS

Major players in the global electric trucks market:

  • AB Volvo
  • BYD Company Ltd.
  • Daimler AG
  • Dongfeng Motor Company
  • Geely Automobile Holdings Ltd
  • Man SE

Key strategies adopted by some of these companies:

  • In February 2022, BYD received the order for Class 8 BYD 8TT battery electric day cab trucks from the Swedish company Einride. The majority of these trucks will be third-generation electric vehicles. Moreover, it received an order for 200 trucks, the largest United States order for electric trucks.
  • Hino Trucks, in March 2023, announced its expansion into the electric vehicle market with its Me and Le series electric trucks. These electric trucks will be launched in 2024. The new vehicles will provide customers wanting to lessen their carbon footprint with a sustainable and environmentally beneficial option.
  • As of March 2023, Scania is running trials for its latest electric truck, Monster-66 Tonne Electric Truck.  

REPORT SYNOPSIS

REPORT SCOPEDETAILS
Market Forecast Years2023-2032
Base Year2022
Market Historical Years2018-2022
Forecast UnitsRevenue ($ Million)
Segments AnalyzedType, Vehicle Type, Range, and Level of Automation
Geographies AnalyzedNorth America, Europe, Asia-Pacific, and Rest of World
Companies AnalyzedAB Volvo, BYD Company Ltd, Daimler AG, Dongfeng Motor Company, Geely Automobile Holdings Ltd, Man SE, Paccar Inc, Scania, TATA Motors, Workhorse

TABLE OF CONTENT

  1. RESEARCH SCOPE & METHODOLOGY
    1. STUDY OBJECTIVES
    2. METHODOLOGY
    3. ASSUMPTIONS & LIMITATIONS
  2. EXECUTIVE SUMMARY
    1. MARKET SIZE & ESTIMATES
    2. MARKET OVERVIEW
    3. SCOPE OF STUDY
    4. CRISIS SCENARIO ANALYSIS
  3. MARKET DYNAMICS
    1. KEY DRIVERS
      1. GOVERNMENT INITIATIVES SUPPORTING E-MOBILITY GROWTH
      2. SURGING DEMAND FOR EVS DUE TO GLOBAL CLIMATE CHANGE CONCERNS
      3. LOGISTICS SECTOR’S RISING DEMAND FOR MEDIUM & HEAVY-DUTY ELECTRIC TRUCKS
    2. KEY RESTRAINTS
      1. ABSENCE OF EFFECTIVE VEHICLE CHARGING SYSTEMS
      2. HIGH MANUFACTURING COSTS OF EXISTING ELECTRIC TRUCKS
  4. KEY ANALYTICS
    1. KEY MARKET TRENDS
    2. PORTER’S FIVE FORCES ANALYSIS
      1. BUYERS POWER
      2. SUPPLIERS POWER
      3. SUBSTITUTION
      4. NEW ENTRANTS
      5. INDUSTRY RIVALRY
    3. GROWTH PROSPECT MAPPING
      1. GROWTH PROSPECT MAPPING FOR UNITED STATES
      2. GROWTH PROSPECT MAPPING FOR UNITED KINGDOM
      3. GROWTH PROSPECT MAPPING FOR CHINA
      4. GROWTH PROSPECT MAPPING FOR LATIN AMERICA
    4. MARKET MATURITY ANALYSIS
    5. MARKET CONCENTRATION ANALYSIS
    6. VALUE CHAIN ANALYSIS
      1. RAW MATERIALS
      2. MANUFACTURERS
      3. DISTRIBUTORS
      4. END-USERS
  5. MARKET BY TYPE
    1. BEV
    2. PHEV
    3. FCV
  6. MARKET BY VEHICLE TYPE
    1. LCV
    2. MEDIUM & HCV
  7. MARKET BY RANGE
    1. LESS THAN 200 MILES
    2. MORE THAN 200 MILES
  8. MARKET BY LEVEL OF AUTOMATION
    1. SEMI-AUTONOMOUS
    2. FULLY AUTONOMOUS
  9. GEOGRAPHICAL ANALYSIS
    1. NORTH AMERICA
      1. MARKET SIZE & ESTIMATES
      2. NORTH AMERICA ELECTRIC TRUCKS MARKET DRIVERS
      3. NORTH AMERICA ELECTRIC TRUCKS MARKET CHALLENGES
      4. NORTH AMERICA ELECTRIC TRUCKS MARKET REGULATORY FRAMEWORK
      5. KEY PLAYERS IN NORTH AMERICA ELECTRIC TRUCKS MARKET
      6. COUNTRY ANALYSIS
        1. UNITED STATES
          1. UNITED STATES ELECTRIC TRUCKS MARKET SIZE & OPPORTUNITIES
        2. CANADA
          1. CANADA ELECTRIC TRUCKS MARKET SIZE & OPPORTUNITIES
    2. EUROPE
      1. MARKET SIZE & ESTIMATES
      2. EUROPE ELECTRIC TRUCKS MARKET DRIVERS
      3. EUROPE ELECTRIC TRUCKS MARKET CHALLENGES
      4. EUROPE ELECTRIC TRUCKS MARKET REGULATORY FRAMEWORK
      5. KEY PLAYERS IN EUROPE ELECTRIC TRUCKS MARKET
      6. COUNTRY ANALYSIS
        1. UNITED KINGDOM
          1. UNITED KINGDOM ELECTRIC TRUCKS MARKET SIZE & OPPORTUNITIES
        2. GERMANY
          1. GERMANY ELECTRIC TRUCKS MARKET SIZE & OPPORTUNITIES
        3. FRANCE
          1. FRANCE ELECTRIC TRUCKS MARKET SIZE & OPPORTUNITIES
        4. ITALY
          1. ITALY ELECTRIC TRUCKS MARKET SIZE & OPPORTUNITIES
        5. SPAIN
          1. SPAIN ELECTRIC TRUCKS MARKET SIZE & OPPORTUNITIES
        6. BELGIUM
          1. BELGIUM ELECTRIC TRUCKS MARKET SIZE & OPPORTUNITIES
        7. POLAND
          1. POLAND ELECTRIC TRUCKS MARKET SIZE & OPPORTUNITIES
        8. REST OF EUROPE
          1. REST OF EUROPE ELECTRIC TRUCKS MARKET SIZE & OPPORTUNITIES
    3. ASIA-PACIFIC
      1. MARKET SIZE & ESTIMATES
      2. ASIA-PACIFIC ELECTRIC TRUCKS MARKET DRIVERS
      3. ASIA-PACIFIC ELECTRIC TRUCKS MARKET CHALLENGES
      4. ASIA-PACIFIC ELECTRIC TRUCKS MARKET REGULATORY FRAMEWORK
      5. KEY PLAYERS IN ASIA-PACIFIC ELECTRIC TRUCKS MARKET
      6. COUNTRY ANALYSIS
        1. CHINA
          1. CHINA ELECTRIC TRUCKS MARKET SIZE & OPPORTUNITIES
        2. JAPAN
          1. JAPAN ELECTRIC TRUCKS MARKET SIZE & OPPORTUNITIES
        3. INDIA
          1. INDIA ELECTRIC TRUCKS MARKET SIZE & OPPORTUNITIES
        4. SOUTH KOREA
          1. SOUTH KOREA ELECTRIC TRUCKS MARKET SIZE & OPPORTUNITIES
        5. INDONESIA
          1. INDONESIA ELECTRIC TRUCKS MARKET SIZE & OPPORTUNITIES
        6. THAILAND
          1. THAILAND ELECTRIC TRUCKS MARKET SIZE & OPPORTUNITIES
        7. VIETNAM
          1. VIETNAM ELECTRIC TRUCKS MARKET SIZE & OPPORTUNITIES
        8. AUSTRALIA & NEW ZEALAND
          1. AUSTRALIA & NEW ZEALAND ELECTRIC TRUCKS MARKET SIZE & OPPORTUNITIES
        9. REST OF ASIA-PACIFIC
          1. REST OF ASIA-PACIFIC ELECTRIC TRUCKS MARKET SIZE & OPPORTUNITIES
    4. REST OF WORLD
      1. MARKET SIZE & ESTIMATES
      2. REST OF WORLD ELECTRIC TRUCKS MARKET DRIVERS
      3. REST OF WORLD ELECTRIC TRUCKS MARKET CHALLENGES
      4. REST OF WORLD ELECTRIC TRUCKS MARKET REGULATORY FRAMEWORK
      5. KEY PLAYERS IN REST OF WORLD ELECTRIC TRUCKS MARKET
      6. REGIONAL ANALYSIS
        1. LATIN AMERICA
          1. LATIN AMERICA ELECTRIC TRUCKS MARKET SIZE & OPPORTUNITIES
        2. MIDDLE EAST & AFRICA
          1. MIDDLE EAST & AFRICA ELECTRIC TRUCKS MARKET SIZE & OPPORTUNITIES
  10. COMPETITIVE LANDSCAPE
    1. KEY STRATEGIC DEVELOPMENTS
      1. MERGERS & ACQUISITIONS
      2. PRODUCT LAUNCHES & DEVELOPMENTS
      3. PARTNERSHIPS & AGREEMENTS
      4. BUSINESS EXPANSIONS & DIVESTITURES
    2. COMPANY PROFILES
      1. AB VOLVO
        1. COMPANY OVERVIEW
        2. PRODUCTS
        3. STRENGTHS & CHALLENGES
      2. BYD COMPANY LTD
        1. COMPANY OVERVIEW
        2. PRODUCTS / SERVICES LIST
        3. STRENGTHS & CHALLENGES
      3. DAIMLER AG
        1. COMPANY OVERVIEW
        2. PRODUCTS / SERVICES LIST
        3. STRENGTHS & CHALLENGES
      4. DONGFENG MOTOR COMPANY
        1. COMPANY OVERVIEW
        2. PRODUCTS / SERVICES LIST
        3. STRENGTHS & CHALLENGES
      5. GEELY AUTOMOBILES HOLDINGS LTD
        1. COMPANY OVERVIEW
        2. PRODUCTS / SERVICES LIST
        3. STRENGTHS & CHALLENGES
      6. MAN SE
        1. COMPANY OVERVIEW
        2. PRODUCTS / SERVICES LIST
        3. STRENGTHS & CHALLENGES
      7. PACCAR INC
        1. COMPANY OVERVIEW
        2. PRODUCTS / SERVICES LIST
        3. STRENGTHS & CHALLENGES
      8. SCANIA
        1. COMPANY OVERVIEW
        2. PRODUCTS / SERVICES LIST
        3. STRENGTHS & CHALLENGES
      9. TATA MOTORS
        1. COMPANY OVERVIEW
        2. PRODUCTS / SERVICES LIST
        3. STRENGTHS & CHALLENGES
      10. WORKHORSE
        1. COMPANY OVERVIEW
        2. PRODUCTS / SERVICES LIST
        3. STRENGTHS & CHALLENGES

LIST OF TABLES

TABLE 1: MARKET SNAPSHOT – ELECTRIC MOTORS

TABLE 2: GLOBAL ELECTRIC TRUCKS MARKET, BY TYPE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 3: GLOBAL ELECTRIC TRUCKS MARKET, BY TYPE, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 4: GLOBAL BEV MARKET, BY REGION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 5: GLOBAL BEV MARKET, BY REGION, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 6: GLOBAL PHEV MARKET, BY REGION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 7: GLOBAL PHEV MARKET, BY REGION, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 8: GLOBAL FCV MARKET, BY REGION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 9: GLOBAL FCV MARKET, BY REGION, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 10: GLOBAL ELECTRIC TRUCKS MARKET, BY VEHICLE TYPE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 11: GLOBAL ELECTRIC TRUCKS MARKET, BY VEHICLE TYPE, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 12: GLOBAL LCV MARKET, BY REGION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 13: GLOBAL LCV MARKET, BY REGION, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 14: GLOBAL MEDIUM & HCV MARKET, BY REGION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 15: GLOBAL MEDIUM & HCV MARKET, BY REGION, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 16: GLOBAL ELECTRIC TRUCKS MARKET, BY RANGE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 17: GLOBAL ELECTRIC TRUCKS MARKET, BY RANGE, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 18: GLOBAL LESS THAN 200 MILES MARKET, BY REGION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 19: GLOBAL LESS THAN 200 MILES MARKET, BY REGION, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 20: GLOBAL MORE THAN 200 MILES MARKET, BY REGION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 21: GLOBAL MORE THAN 200 MILES MARKET, BY REGION, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 22: GLOBAL ELECTRIC TRUCKS MARKET, BY LEVEL OF AUTOMATION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 23: GLOBAL ELECTRIC TRUCKS MARKET, BY LEVEL OF AUTOMATION, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 24: GLOBAL SEMI-AUTONOMOUS MARKET, BY REGION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 25: GLOBAL SEMI-AUTONOMOUS MARKET, BY REGION, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 26: GLOBAL FULLY AUTONOMOUS MARKET, BY REGION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 27: GLOBAL FULLY AUTONOMOUS MARKET, BY REGION, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 28: GLOBAL ELECTRIC TRUCKS MARKET, BY GEOGRAPHY, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 29: GLOBAL ELECTRIC TRUCKS MARKET, BY GEOGRAPHY, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 30: NORTH AMERICA ELECTRIC TRUCKS MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 31: NORTH AMERICA ELECTRIC TRUCKS MARKET, BY COUNTRY, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 32: NORTH AMERICA ELECTRIC TRUCKS MARKET REGULATORY FRAMEWORK

TABLE 33: KEY PLAYERS OPERATING IN NORTH AMERICA ELECTRIC TRUCKS MARKET

TABLE 34: EUROPE ELECTRIC TRUCKS MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 35: EUROPE ELECTRIC TRUCKS MARKET, BY COUNTRY, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 36: EUROPE ELECTRIC TRUCKS MARKET REGULATORY FRAMEWORK

TABLE 37: KEY PLAYERS OPERATING IN EUROPE ELECTRIC TRUCKS MARKET

TABLE 38: ASIA-PACIFIC ELECTRIC TRUCKS MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 39: ASIA-PACIFIC ELECTRIC TRUCKS MARKET, BY COUNTRY, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 40: ASIA- PACIFIC ELECTRIC TRUCKS MARKET REGULATORY FRAMEWORK

TABLE 41: KEY PLAYERS OPERATING IN ASIA-PACIFIC ELECTRIC TRUCKS MARKET

TABLE 42: REST OF WORLD ELECTRIC TRUCKS MARKET, BY REGION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 43: REST OF WORLD ELECTRIC TRUCKS MARKET, BY REGION, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 44: REST OF WORLD ELECTRIC TRUCKS MARKET REGULATORY FRAMEWORK

TABLE 45: KEY PLAYERS OPERATING IN REST OF WORLD ELECTRIC TRUCKS MARKET

TABLE 46: LIST OF MERGERS & ACQUISITIONS

TABLE 47: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS

TABLE 48: LIST OF PARTNERSHIPS & AGREEMENTS

TABLE 49: LIST OF BUSINESS EXPANSIONS & DIVESTITURES

LIST OF FIGURES 

FIGURE 1: KEY MARKET TRENDS

FIGURE 2: PORTER’S FIVE FORCES ANALYSIS

FIGURE 3: GROWTH PROSPECT MAPPING FOR UNITED STATES 

FIGURE 4: GROWTH PROSPECT MAPPING FOR UNITED KINGDOM

FIGURE 5: GROWTH PROSPECT MAPPING FOR CHINA

FIGURE 6: GROWTH PROSPECT MAPPING FOR LATIN AMERICA

FIGURE 7: MARKET MATURITY ANALYSIS

FIGURE 8: MARKET CONCENTRATION ANALYSIS

FIGURE 9: VALUE CHAIN ANALYSIS

FIGURE 10: GLOBAL ELECTRIC TRUCKS MARKET, GROWTH POTENTIAL, BY TYPE, IN 2022

FIGURE 11: GLOBAL ELECTRIC TRUCKS MARKET, BY BEV, 2023-2032 (IN $ MILLION)

FIGURE 12: GLOBAL ELECTRIC TRUCKS MARKET, BY PHEV, 2023-2032 (IN $ MILLION)

FIGURE 13: GLOBAL ELECTRIC TRUCKS MARKET, BY FCV, 2023-2032 (IN $ MILLION)

FIGURE 14: GLOBAL ELECTRIC TRUCKS MARKET, GROWTH POTENTIAL, BY VEHICLE TYPE, IN 2022

FIGURE 15: GLOBAL ELECTRIC TRUCKS MARKET, BY LCV, 2023-2032 (IN $ MILLION)

FIGURE 16: GLOBAL ELECTRIC TRUCKS MARKET, BY MEDIUM & HCV, 2023-2032 (IN $ MILLION)

FIGURE 17: GLOBAL ELECTRIC TRUCKS MARKET, GROWTH POTENTIAL, BY RANGE, IN 2022

FIGURE 18: GLOBAL ELECTRIC TRUCKS MARKET, BY LESS THAN 200 MILES, 2023-2032 (IN $ MILLION)

FIGURE 19: GLOBAL ELECTRIC TRUCKS MARKET, BY MORE THAN 200 MILES, 2023-2032 (IN $ MILLION)

FIGURE 20: GLOBAL ELECTRIC TRUCKS MARKET, GROWTH POTENTIAL, BY LEVEL OF AUTOMATION, IN 2022

FIGURE 21: GLOBAL ELECTRIC TRUCKS MARKET, BY SEMI-AUTONOMOUS, 2023-2032 (IN $ MILLION)

FIGURE 22: GLOBAL ELECTRIC TRUCKS MARKET, BY FULLY AUTONOMOUS, 2023-2032 (IN $ MILLION)

FIGURE 23: NORTH AMERICA ELECTRIC TRUCKS MARKET, COUNTRY OUTLOOK, 2022 & 2032 (IN %)

FIGURE 24: UNITED STATES ELECTRIC TRUCKS MARKET, 2023-2032 (IN $ MILLION)

FIGURE 25: CANADA ELECTRIC TRUCKS MARKET, 2023-2032 (IN $ MILLION)

FIGURE 26: EUROPE ELECTRIC TRUCKS MARKET, COUNTRY OUTLOOK, 2022 & 2032 (IN %)

FIGURE 27: UNITED KINGDOM ELECTRIC TRUCKS MARKET, 2023-2032 (IN $ MILLION)

FIGURE 28: GERMANY ELECTRIC TRUCKS MARKET, 2023-2032 (IN $ MILLION)

FIGURE 29: FRANCE ELECTRIC TRUCKS MARKET, 2023-2032 (IN $ MILLION)

FIGURE 30: ITALY ELECTRIC TRUCKS MARKET, 2023-2032 (IN $ MILLION)

FIGURE 31: SPAIN ELECTRIC TRUCKS MARKET, 2023-2032 (IN $ MILLION)

FIGURE 32: BELGIUM ELECTRIC TRUCKS MARKET, 2023-2032 (IN $ MILLION)

FIGURE 33: POLAND ELECTRIC TRUCKS MARKET, 2023-2032 (IN $ MILLION)

FIGURE 34: REST OF EUROPE ELECTRIC TRUCKS MARKET, 2023-2032 (IN $ MILLION)

FIGURE 35: ASIA-PACIFIC ELECTRIC TRUCKS MARKET, COUNTRY OUTLOOK, 2022 & 2032 (IN %)

FIGURE 36: CHINA ELECTRIC TRUCKS MARKET, 2023-2032 (IN $ MILLION)

FIGURE 37: JAPAN ELECTRIC TRUCKS MARKET, 2023-2032 (IN $ MILLION)

FIGURE 38: INDIA ELECTRIC TRUCKS MARKET, 2023-2032 (IN $ MILLION)

FIGURE 39: SOUTH KOREA ELECTRIC TRUCKS MARKET, 2023-2032 (IN $ MILLION)

FIGURE 40: INDONESIA ELECTRIC TRUCKS MARKET, 2023-2032 (IN $ MILLION)

FIGURE 41: THAILAND ELECTRIC TRUCKS MARKET, 2023-2032 (IN $ MILLION)

FIGURE 42: VIETNAM ELECTRIC TRUCKS MARKET, 2023-2032 (IN $ MILLION)

FIGURE 43: AUSTRALIA & NEW ZEALAND ELECTRIC TRUCKS MARKET, 2023-2032 (IN $ MILLION)

FIGURE 44: REST OF ASIA-PACIFIC ELECTRIC TRUCKS MARKET, 2023-2032 (IN $ MILLION)

FIGURE 45: REST OF WORLD ELECTRIC TRUCKS MARKET, REGIONAL OUTLOOK, 2022 & 2032 (IN %)

FIGURE 46: LATIN AMERICA ELECTRIC TRUCKS MARKET, 2023-2032 (IN $ MILLION)

FIGURE 47: MIDDLE EAST & AFRICA ELECTRIC TRUCKS MARKET, 2023-2032 (IN $ MILLION)

FAQ’s

FAQs

Raw materials crucial for the manufacturing of electric trucks include lithium, cobalt, and carbon-based materials like graphite and nickel.

An electric truck’s average energy consumption is 0.20 kilowatt per hour (kWh) per kilometer or 0.32 kWh per mile.

Level 1 chargers take nearly 40-50 hours to charge BEVs and 5-6 hours to charge PHEVs. On the other hand, Level 2 chargers require 4-10 hours and 1-2 hours, respectively.