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Electric Truck Market Trends and Forecast
 
The future of the global electric truck market looks promising with opportunities in the light-duty electric truck, medium-duty electric truck, and heavy-duty electric truck markets. The global electric truck market is expected to grow with a CAGR of 43% to 45% from 2023 to 2028. The major drivers for this market are increasing government initiatives for adoption of emission-free vehicles combined with reduced cost of electric vehicle batteries.
 Electric Truck Market
A more than 150-page report is developed to help in your business decisions.  Sample figures with some insights are shown below. To learn the scope, benefits, companies researched, and other details of the global electric truck market report, please download the report brochure.
 Electric Truck Market by Segments
Electric Truck Market by Segment
The study includes a forecast for the global electric truck market by propulsion, range, vehicle type, end user, and region, as follows:
Electric Truck Market by Propulsion [Value ($B) Shipment Analysis from 2017 to 2028]:
  • Battery Electric Vehicle
  • Hybrid Electric Vehicle
  • Plug-in Hybrid Electric Vehicle
  • Fuel Cell Electric Vehicle
 Electric Truck Market by Range [Value ($B) Shipment Analysis from 2017 to 2028]:
  • Up to 150 Miles
  • 151-300 Miles
  • Above 300 Miles
Electric Truck Market by Vehicle Type [Value ($B) Shipment Analysis from 2017 to 2028]:
  • Light-Duty Electric Truck
  • Medium-Duty Electric Truck
  • Heavy-Duty Electric Truck
Electric Truck Market by End User [Value ($B) Shipment Analysis from 2017 to 2028]:
  • Last Mile Delivery
  • Long Haul Transportation
  • Refuse Services
  • Field Services
  • Distribution services
Electric Truck Market by Region Type [Value ($B) Shipment Analysis from 2017 to 2028]:
  • North America
  • Europe
  • Asia Pacific
  • The Rest of the World
List of Electric Truck Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies electric truck companies cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the electric truck companies profiled in this report include. 
Electric Truck Market Insights
  • Lucintel forecasts that battery electric truck will remain the largest segment over the forecast period due to the increasing life and energy density of batteries along with reduced cost of batteries.
  • Within this market, up to 150 miles is expected to remain the largest segment due to the increasing adoption of low range electric trucks in the logistics sector. 
  • APAC will remain the largest region due to increasing government's support for the adoption of eco-friendly vehicles over fuel-based vehicles and significant improvement in performance of battery along with the cost.
Features of the Electric Truck Market
  • Market Size Estimates: Electric truck market size estimation in terms of value ($B)
  • Trend And Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.
  • Segmentation Analysis: Electric truck market size by various segments, such as by propulsion, range, vehicle type, end user, and region in terms of value ($B)
  • Regional Analysis: Electric truck market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
  • Growth Opportunities: Analysis on growth opportunities in different by propulsion, range, vehicle type, end user, and regions for the electric truck market.
  • Strategic Analysis: This includes M&A, new product development, and competitive landscape for the electric truck market.
  • Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the electric truck market size?
Answer: The global electric truck market is expected to reach an estimated $xx billion by 2028.
Q2. What is the growth forecast for electric truck market?
Answer: The global electric truck market is expected to grow with a CAGR of 43% to 45% from 2023 to 2028.
Q3. What are the major drivers influencing the growth of the electric truck market?
Answer: The major drivers for this market are increasing government initiatives for adoption of emission-free vehicles combined with reduced cost of electric vehicle batteries.
Q4. What are the major vehicle segments for electric truck market?
Answer: The future of the global electric truck market looks promising with opportunities in the light-duty electric truck, medium-duty electric truck, and heavy-duty electric truck markets.
Q5. Who are the key electric truck companies?
Answer: Some of the key electric truck companies are as follows:
Q6. Which electric truck segment will be the largest in future?
Answer: Lucintel forecasts that battery electric truck will remain the largest segment over the forecast period due to the increasing life and energy density of batteries along with reduced cost of batteries.
Q7. In electric truck market, which region is expected to be the largest in next 5 years?
Answer: APAC will remain the largest region due to increasing government's support for the adoption of eco-friendly vehicles over fuel-based vehicles and significant improvement in performance of battery along with the cost.
Q8. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.
 
This report answers following 11 key questions
Q.1. What are some of the most promising, high-growth opportunities for the electric truck market by propulsion (battery electric truck, hybrid electric truck, plug-in hybrid electric truck, and fuel-cell electric truck), range (up to 150 miles, 151 to 300 miles, and above 300 miles), vehicle type (light-duty electric truck, medium-duty electric truck, and heavy-duty electric truck), end user (last mile delivery, long haul transportation, refuse services, field services, and distribution services), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last five years and what has its impact been on the industry?

For any questions related to electric truck market or related to electric truck companies, electric truck market size, electric truck market share, electric truck analysis, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.
Table of Contents
 
1. Executive Summary

2. Global Electric Truck Market: Market Dynamics
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges  

3. Market Trends and Forecast Analysis from 2017 to 2028
3.1: Macroeconomic Trends (2017-2022) and Forecast (2023-2028)
3.2: Global Electric Truck Market Trends (2017-2022) and Forecast (2023-2028)
3.3: Global Electric Truck Market by Propulsion
3.3.1: Battery Electric Truck
3.3.2: Hybrid Electric Truck
3.3.3: Plug-In Hybrid Electric Truck
3.3.4: Fuel-Cell Electric Truck
3.4: Global Electric Truck Market by Range
3.4.1: Up To 150 Miles
3.4.2: 151 To 300 Miles
3.4.3: Above 300 Miles
3.5: Global Electric Truck Market by Vehicle Type
3.5.1: Light-Duty Electric Truck
3.5.2: Medium-Duty Electric Truck
3.5.3: Heavy-Duty Electric Truck
3.6: Global Electric Truck Market by End User
3.6.1: Last Mile Delivery
3.6.2: Long Haul Transportation
3.6.3: Refuse Services
3.6.4: Field Services
3.6.5: Distribution Services

4. Market Trends and Forecast Analysis by Region from 2017 to 2028
4.1: Global Electric Truck Market by Region
4.2: North American Electric Truck Market
4.2.1: North American Electric Truck Market by Propulsion: Battery Electric Truck, Hybrid Electric Truck, Plug-In Hybrid Electric Truck, and Fuel-Cell Electric Truck
4.2.2: North American Electric Truck Market by End-User: Last Mile Delivery, Long Haul Transportation, Refuse Services, Field Services, and Distribution Services
4.3: European Electric Truck Market
4.3.1: European Electric Truck Market by Propulsion: Battery Electric Truck, Hybrid Electric Truck, Plug-In Hybrid Electric Truck, and Fuel-Cell Electric Truck
4.3.2: European Electric Truck Market by End-User: : Last Mile Delivery, Long Haul Transportation, Refuse Services, Field Services, and Distribution Services
4.4: APAC Electric Truck Market
4.4.1: APAC Electric Truck Market by Propulsion: Battery Electric Truck, Hybrid Electric Truck, Plug-In Hybrid Electric Truck, and Fuel-Cell Electric Truck
4.4.2: APAC Electric Truck Market by End-User: : Last Mile Delivery, Long Haul Transportation, Refuse Services, Field Services, and Distribution Services
4.5: ROW Electric Truck Market
4.5.1: ROW Electric Truck Market by Propulsion: Battery Electric Truck, Hybrid Electric Truck, Plug-In Hybrid Electric Truck, and Fuel-Cell Electric Truck
4.5.2: ROW Electric Truck Market by End-User: : Last Mile Delivery, Long Haul Transportation, Refuse Services, Field Services, and Distribution Services

5. Competitor Analysis
5.1: Product Portfolio Analysis
5.2: Operational Integration
5.3: Porter’s Five Forces Analysis

6. Growth Opportunities and Strategic Analysis
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for the Global Electric Truck Market by Propulsion 6.1.2: Growth Opportunities for the Global Electric Truck Market by Range
6.1.3: Growth Opportunities for the Global Electric Truck Market by Vehicle Type
6.1.4: Growth Opportunities for the Global Electric Truck Market by End User
6.1.5: Growth Opportunities for the Global Electric Truck Market by Region
6.2: Emerging Trends in the Global Electric Truck Market
6.3: Strategic Analysis
6.3.1: New Product Development
6.3.2: Capacity Expansion of the Global Electric Truck Market
6.3.3: Mergers, Acquisitions, and Joint Ventures in the Global Electric Truck Market

7. Company Profiles of Leading Players
7.1: AB Volvo
7.2: BYD
7.3: Daimler
7.4: Dongfeng Motor 
7.5: Geely Automobiles Holdings
7.6: Man SE
7.7: Paccar Inc
7.8: Scania
7.9: Tata Motors
7.10: Workhorse

.

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Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
  • In-depth interviews of the major players in this market
  • Detailed secondary research from competitors’ financial statements and published data 
  • Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
  • A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
 
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process. 
 

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