Global Electric Truck Market Size, Trend, Growth Application , Global Status & Key Manufacturers Analysis Report to 2027

The report on Electric Truck Market details key dynamics of the market. The report has been developed, based on an exhaustive study by our proficient analysts. The scope of the report on the Electric Truck Market range from the year 2021 to 2028. The report has been carefully designed, for our clients to comprehend the market’s insights easily. There are six sections of the Electric Truck Market report. The report modules are; a market overview, a segmental study of the market, regional analysis, important vendors operating in the market, and news updated for the Electric Truck Market.

Electric truck is an electric mobility which is powered by an electric motor, or a truck which receives power or energy primarily from the power grid. They are low or zero emission trucks, which contributes significantly towards a greener environment. Electric trucks are alternative to conventional fossil fuel trucks. However, they are heavier than traditional trucks owing to the weight of batteries.

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For a better understanding of the Electric Truck Market, a better grip over the macroeconomic and microeconomic factors are needed as they are impacting the market towards progress. Those factors can ensure a swift helming of the market by rough patches of economic crisis and help in averting plummeting results. With real-time data, the report captures the essence of the market and provides a close reading of demographic changes. Report would assist key players in assessing growth opportunities and optimally use resources provided by growth pockets.

The market overview section includes all aspects of the Electric Truck Market, driving or restraining its expansion. As well as Boosters & constraints of the Electric Truck Market have been studied. Strategic research methodologies were adopted for maintaining accuracy in results, obtained from primary & secondary research. Our skilled analysts scientifically investigated the compound annual growth rate and the approximate revenue the global Electric Truck Market can generate over the forecast period.

Market Drivers

Increase in transportation emission caused by fossil fuel powered vehicles coupled with a surge in pollution levels especially in urban areas. It is key driving factor which expected to boost the global electric truck market growth. Furthermore, increase in demand for electric trucks in logistic industry which is expected to positively contribute the market growth. Logistics industry is one of the important contributors to any country’s GDP, as increase in internet penetration and demand for e-commerce may require logistics providers deliver to remote locations in the emerging economies. As the increase in demand for green transportation across the globe and many government are backing are backing this initiatives, freight transportation, which contributes highly carbon dioxide emissions, has been observing a reduction. Many logistics companies are actively participating in replacing their fleet with greener vehicles. For instance, in February 2020, CEVA logistics in UK had started trails using electric lorries/trucks for supplying products in Central London.

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Market Restraints

However, lack of charging infrastructure is the major challenging factor which is expected to hinder the global electric truck market growth. For adequate charging infrastructure proper planning and installation is needed and which would require huge investments. It is expected to obstruct the electric truck market growth during this forecast period.

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Market Key Players

Various key players are discussed in this report such as

  • Bosch,
  • Denso,
  • CEVA Logistics,
  • Johnson Control,
  • Hitachi Automotive Systems,
  • Magna,
  • Infineon,
  • Eaton, and
  • Siemens.

Market Taxonomy

By Truck Type

  • Light-Duty Truck
  • Medium-Duty Truck
  • Heavy-Duty Truck

By Electric Propulsion Type

  • Plug-in Hybrid
  • Fuel Cell Electric
  • Battery Electric

By Application

  • Logistics
  • Municipal
  • Construction
  • Mining
  • Others

By Region

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa
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