Electric Trucks Market by Propulsion (BEV, PHEV, FCEV), by Vehicle Type (Light Duty Trucks, Medium Duty Trucks, Heavy Duty Trucks), by Range (150 Miles, 151-300 Miles, Above 300 Miles), by By Geography (North America), by Europe (U.K., Germany, France, Rest of Europe), by Asia Pacific (China, Japan, India, Rest of Asia Pacific), by Rest of the World (Middle East & Africa, Latin America) Forecast 2024-2032
The Electric Trucks Market size was valued at USD 505.5 USD Million in 2023 and is projected to reach USD 717.48 USD Million by 2032, exhibiting a CAGR of 5.13 % during the forecast period. Electric trucks refer to vehicles that are powered by batteries as compared to internal combustion engines. They are used in short and long distance transport and they are environment friendly compared to diesel trucks. The main classes of electric trucks are light, medium, and heavy electric trucks that can move cargo with different weights and for different distances. These components include electric motors, lithium-ion battery packs with a high energy density, and sophisticated power electronics. Separately, electric trucks offer less CO2 emissions, cost less in operation and maintenance, and produce lesser noise. The recent developments in the market show that more and more logistics companies are turning to electric trucks while battery technology continues to evolve, improving driving distance, as well as fast charging capability. The governments and manufacturers are also providing funding for the construction of the infrastructure that would support electric trucks as part of the ongoing transition to sustainable transportation.
Propulsion:
Vehicle Type:
Range:
Scope: This report covers the global electric trucks market, providing an in-depth analysis of market size, trends, drivers, challenges, and opportunities.
Target Audience: Electric vehicle manufacturers, logistics companies, government agencies, investors, and research organizations.
Methodology: The report utilizes a combination of primary and secondary research, including interviews with industry experts, analysis of market data, and company financials.
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Weaknesses:
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Aspects | Details |
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Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 5.13% from 2018-2032 |
Segmentation |
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Aspects | Details |
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Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 5.13% from 2018-2032 |
Segmentation |
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Note* : In applicable scenarios
Primary Research
Secondary Research
Involves using different sources of information in order to increase the validity of a study
These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.
Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence
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