An Electric Truck Market size was valued at US$ 2.46 Bn. in 2022 and the total revenue is expected to grow at 28.1% CAGR through 2023 to 2029, reaching nearly US$ 13.93 Bn.

Electric Truck Market Overview:

Maximize Market Research's new report, Electric Truck Market 2021-2027, is useful for understanding the market's competitors. The research provides a broad and basic examination of the market, including an examination of subjective factors that might provide readers with vital business insights. The research provides a market overview that explains the value chain structure, geographical analysis, applications, market size, and forecast (2021-2027). The research will serve as a vehicle for a more accurate assessment of the current and future conditions of the worldwide Electric Truck market.

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Market Scope:

The research provides an analytical view of the business by studying several elements such as worldwide Electric Truck market growth, consumption volume, market trends, and company pricing structures throughout the projected period. The analysis includes extensive research to explore the market's complexities. The research provides an overview of the worldwide Electric Truck market, including market characteristics, market segmentation analysis, market size, customer landscape, and geographical landscape. The study considers growth drivers, current trends, advancements, prospects, and the competitive environment in its research. This market has been examined in several areas based on productivity and manufacturing base.

Market Dynamics:

Global Electric trucks are commercial vehicles used for carrying cargo that are powered by a battery pack. Electric trucks also make almost no noise compared to diesel trucks since they have fewer moving parts and do not need multi-speed gearboxes, which lowers vehicle maintenance costs and increases reliability.

Segmentation:

by Type
Battery Electric Trucks
Hybrid Trucks

The Electric Truck market is divided into Battery Electric Trucks and Hybrid Trucks depending on type and equipment. The sector of battery electric trucks accounted for the largest revenue share of 84.76% in 2019 and is anticipated to maintain its leadership throughout the projected period. Due to improving battery life and energy density as well as a decline in battery prices, the market for this segment is expected to grow at a rapid CAGR during the forecast period. Additionally, escalating government rules mandating zero-emission automobiles will encourage category growth. For instance, the European Union has established legislation requiring a minimum 40% reduction in emissions by 2030. The EU has set a target to reduce emissions by nearly 60% by 2040.

by Application
Logistics
Municipal
Construction
Mining
Others

Electric truck market is divided into Logistics, Municipal, Construction, Mining, and Others based on application. The logistics sector has historically held the largest market share and will do so during the anticipated timeframe. The Peterbilt Model 220EV, which will have a range of up to 200 miles, will go on sale soon, according to a recent announcement by Peterbilt and Dana. The automobile should start production in the latter half of 2022. Additionally competing, Navistar is providing a medium-duty electric vehicle under its global brand. The production manager has promised a battery capacity of 312 kWh, a single-charge range of 250 miles, and the conclusion of production by early 2022.

Key Players:

It then discusses the top competitors in the worldwide Electric Truck market, as well as emerging players, in detail, including market share based on revenue, demand, high-quality product makers, sales, and service providers. In addition, the research assesses capacity utilization, raw material sources, import-export, the value chain, price structure, and the industrial supply chain. The following players are featured in this report:

1.AB Volvo
2.BYD Auto Co. Ltd
3.Daimler AG
4.Dongfeng Motor Corporation
5.FAW Group Co., Ltd.
6.Foton Motor Inc.
7.Isuzu Motors Ltd
8.Navistar, Inc.
9.PACCAR Inc.
10.Scania
11.Tevva Motors Limited
12.Tesla
13.Rivian
14.Ford
15.GM
16.Workhorse
17.Atlis
18.Lordstown
19.Bollinger
20.Volkswagen AG
21.Hino Motors Ltd.
22.Chanje Energy Inc.
23.Orange EV
24.Mitsubishi Fuso Truck & Bus Corp.
25. Nikola Motor Co.
26.Fiat Chrysler Automobiles N.V.

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Regional Analysis:

The report has analyzed the global Electric Truck market in the following regions:
America, North (the United States, Canada, and Mexico)
European Union (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
Asia-Pacific region (China, Japan, Korea, India, Southeast Asia, and Australia)
Latin America (Brazil, Argentina, Colombia, and Rest of South America)
Africa and the Middle East (Saudi Arabia, UAE, Egypt, South Africa, and Rest of the Middle East & Africa)

The research provides comprehensive insights into numerous development opportunities and challenges in the regions mentioned above based on various types of goods, applications, end-users, and countries, among others. The research also includes key features of the worldwide Electric Truck market, such as sales growth, product price and analysis, growth potential, and suggestions for tackling market issues in the given regions.

COVID-19 Impact Analysis on Electric Truck Market:

COVID-19 is an unprecedented worldwide public health emergency that has impacted practically every business, and the long-term impacts are expected to have an influence on industry growth throughout the projection period. Our continuing study expands our research methodology to include fundamental COVID-19 concerns and potential next steps. The research provides insights on COVID-19 by taking into account changes in consumer behavior and demand, purchasing patterns, supply chain re-routing, the dynamics of contemporary market forces, and substantial government initiatives. The revised report contains insights, analysis, projections, and predictions based on the influence of COVID-19 on the market.

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Key Questions Answered in the Electric Truck Market Report are:
Which are the major companies in the Electric Truck market?
Which is the potential market for Electric Truck in terms of the region?
Which application area of Electric Truck is expected to grow at a significant rate in the market in the next 5 years?
What are the opportunities for new market entrants?
What will be the Electric Truck market size by 2027?
What are the growth prospects for the Electric Truck market?
What is the base year considered in the Electric Truck market report?
Which region holds the largest market share in the Electric Truck market?
What factors are anticipated to drive the Electric Truck market?

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