Description
Global Electric Truck Market Research Report – Forecast till 2026
Market Overview
According to Statistics, the Global Electric Truck Market in terms of volume is expected to reach 324,120 Units by 2026, registering a 73.65% CAGR during the forecast period. An electric truck is an economic vehicle that is controlled by a set of batteries and is utilized for the transportation of load. Moreover, in electric trucks, engines inside have fewer parts moving when contrasted with diesel trucks. Electric trucks are a profoundly favored choice to fuel-based business vehicles as they are practical contrasted with fuel-based business vehicles and less dirtying. These trucks are generally utilized in calculated administrations, metropolitan bodies, and others. The rising logistic activities are evaluated to create growth opportunities for major market players.
The global market for electric trucks is anticipated to exhibit a substantial market expansion during the forecast period. The global electric truck market is propelled by factors such as government initiatives to encourage the adoption of electric trucks and low operating costs. However, the increased price & limited capacity of batteries is expected to hamper market growth during the review period.
Market Segmentation
Global Electric Trucks Market has been categorized into Truck Type, Charge Type, and Application.
In terms of truck type, the global market has been bifurcated into medium-duty trucks and heavy-duty trucks. The charge type segment divides the global electric truck market into the battery, plug-in hybrid, hybrid, and hydrogen fuel cell.
The charge type, the global market has been segmented into the battery, plug-in hybrid, hybrid, and hydrogen fuel cell. By application type, the global market has been classified into logistics, municipal, and others.
Regional Analysis
The region-specific analysis of the report on the Electric Truck Market has been classified into Asia-Pacific, North America, Europe, and the rest of the world.
Regional Analysis
Asia-Pacific is expected to contribute the largest share of the Electric trucks market owing to the effective initiatives taken by the governments of various countries such as China, Japan, India, and Singapore. The region is expected to contribute the notable market growth having the largest market share of 86.93% in 2019. However, many countries investing money and time in developing the charging infrastructure and increasing the collaborations between the vehicle OEMs and technology providers in the aftermarket is expected to fuel the market during the review period. Moreover, the high price is not a market hindering factor in the region, due to the favorable government policies such as tax waivers and other incentives for electric vehicle owners.
Europe accounted for the second-largest market of the global electric truck market owing to the leading market in Germany and France. The major manufacturers of Germany are focusing on investing in improving the charging infrastructure and developing low-cost battery materials.
Key Players
The growth of the vendors is dependent on market conditions, government support, and industrial development. The Key players operating in the global electric truck market include AB Volvo, Daimler AG, PACCAR Inc., Volkswagen AG, BYD Company Limited, and Tesla.
COVID 19 Impacts
We are continuously tracking the impact of the COVID-19 pandemic on various industries and verticals within all domains. Our research reports include the same and help you understand the drop and rise, owing to the impact of COVID-19 on the industries. Also, we help you to identify the gap between the demand and supply of your interested market. Moreover, the report helps you with the analysis, amended government regulations, and many other useful insights.
Table of Contents
TABLE OF CONTENT
1 EXECUTIVE SUMMARY
1.1 MARKET ATTRACTIVENESS ANALYSIS 17
1.1.1 GLOBAL ELECTRIC TRUCK MARKET, BY TRUCK TYPE 17
1.1.2 GLOBAL ELECTRIC TRUCK MARKET, BY CHARGE TYPE 18
1.1.3 GLOBAL ELECTRIC TRUCK MARKET, BY APPLICATION 19
1.1.4 GLOBAL ELECTRIC TRUCK MARKET, BY REGION 20
2 MARKET INTRODUCTION
2.1 DEFINITION 21
2.2 SCOPE OF THE STUDY 21
2.3 MARKET STRUCTURE 21
2.4 KEY BUYING CRITERIA 22
3 RESEARCH METHODOLOGY
3.1 RESEARCH PROCESS 23
3.2 PRIMARY RESEARCH 24
3.3 SECONDARY RESEARCH 25
3.4 MARKET SIZE ESTIMATION 25
3.5 TOP-DOWN AND BOTTOM-UP APPROACH 26
3.6 FORECAST MODEL 27
3.7 LIST OF ASSUMPTIONS 28
4 MARKET DYNAMICS
4.1 INTRODUCTION 29
4.2 DRIVERS 30
4.2.1 GOVERNMENT INITIATIVES TO ENCOURAGE ADOPTION OF ELECTRIC TRUCKS 30
4.2.2 LOW OPERATING COST 30
4.2.3 DRIVERS IMPACT ANALYSIS 31
4.3 RESTRAINTS 31
4.3.1 UNDERDEVELOPED CHARGING INFRASTRUCTURE AND POOR AFTERMARKET SERVICES 31
4.3.2 HIGH PRICE AND LIMITED CAPACITY OF BATTERIES 32
4.3.3 RESTRAINTS IMPACT ANALYSIS 32
4.4 OPPORTUNITIES 33
4.4.1 INCREASING LOGISTIC ACTIVITIES 33
4.4.2 GROWTH IN DEMAND WITHIN FLEETS 34
4.5 COVID-19 IMPACT ANALYSIS 34
4.5.1 ECONOMIC IMPACT ON THE AUTOMOTIVE INDUSTRY 34
4.5.2 IMPACT ON AUTOMOTIVE PRODUCTION 35
4.5.2.1 FORD 35
4.5.2.2 AMERICAN HONDA 35
4.5.2.3 FCA 35
4.5.2.4 KIA 36
4.5.2.5 DAIMLER AG 36
4.5.2.6 VOLKSWAGEN 36
4.5.3 IMPACT ON ELECTRIC TRUCK MARKET 36
4.5.3.1 IMPACT ON SUPPLY CHAIN 36
4.5.3.2 IMPACT ON RAW MATERIALS 36
4.5.3.3 CASH FLOW CONSTRAINTS 37
4.5.4 IMPACT ON WORLD TRADE 37
4.6 POLICIES AND STANDARDS 37
4.7 DROP IN BATTERY PRICES AND COST FORECAST 40
4.8 PURCHASE PRICE DIFFERENCE (ELECTRIC TRUCK VS ICE), 2019 40
5 MARKET FACTOR ANALYSIS
5.1 PORTER’S FIVE FORCES MODEL 41
5.1.1 THREAT OF NEW ENTRANTS 41
5.1.2 BARGAINING POWER OF SUPPLIERS 42
5.1.3 THREAT OF SUBSTITUTES 42
5.1.4 BARGAINING POWER OF BUYERS 42
5.1.5 INTENSITY OF RIVALRY 42
5.2 SUPPLY CHAIN ANALYSIS 43
5.2.1 DESIGN & DEVELOPMENT 43
5.2.2 RAW MATERIAL/COMPONENT SUPPLY 43
5.2.3 ASSEMBLY 44
5.2.4 DISTRIBUTION/SUPPLY 44
5.2.5 END USE 44
6 GLOBAL ELECTRIC TRUCK MARKET, BY TRUCK TYPE
6.1 INTRODUCTION 45
6.2 MEDIUM DUTY TRUCKS 45
6.2.1 CLASS 4 45
6.2.2 CLASS 5 45
6.2.3 CLASS 6 45
6.3 HEAVYDUTY TRUCKS 46
6.3.1 CLASS 7 46
6.3.2 CLASS 8 46
7 GLOBAL ELECTRIC TRUCK MARKET, BY CHARGE TYPE
7.1 INTRODUCTION 48
7.2 BATTERY 48
7.3 PLUG-IN HYBRID 48
7.4 HYBRID 48
7.5 HYDROGEN FUEL CELL 48
8 GLOBAL ELECTRIC TRUCK MARKET, BY APPLICATION
8.1 INTRODUCTION 50
8.2 LOGISTICS 50
8.3 MUNICIPAL 50
8.4 OTHERS 51
9 GLOBAL ELECTRIC TRUCK MARKET, BY REGION
9.1 OVERVIEW 52
9.2 NORTH AMERICA 53
9.2.1 US 56
9.2.2 CANADA 58
9.2.3 MEXICO 60
9.3 EUROPE 62
9.3.1 GERMANY 65
9.3.2 UK 67
9.3.3 FRANCE 69
9.3.4 SPAIN 71
9.3.5 ITALY 73
9.3.6 REST OF EUROPE 75
9.4 ASIA-PACIFIC 77
9.4.1 CHINA 80
9.4.2 JAPAN 82
9.4.3 INDIA 84
9.4.4 SOUTH KOREA 86
9.4.5 REST OF ASIA-PACIFIC 88
9.5 REST OF THE WORLD (ROW) 90
9.5.1 MIDDLE EAST & AFRICA (MEA) 92
9.5.2 SOUTH AMERICA 94
10 COMPETITIVE LANDSCAPE
10.1 COMPETITIVE OVERVIEW 96
10.2 MAJOR GROWTH STRATEGIES IN THE GLOBAL ELECTRIC TRUCK MARKET 96
10.3 COMPETITIVE BENCHMARKING 97
10.4 MARKET SHARE ANALYSIS 98
10.5 KEY DEVELOPMENTS IN THE GLOBAL ELECTRIC TRUCK MARKET 98
10.5.1 KEY DEVELOPMENTS: CONTRACTS & AGREEMENTS 98
10.5.2 KEY DEVELOPMENTS: PARTNERSHIPS 99
10.5.3 KEY DEVELOPMENTS: EXPANSIONS 99
10.5.4 KEY DEVELOPMENTS: PRODUCT DEVELOPMENTS/LAUNCHES 100
11 COMPANY PROFILES
11.1 AB VOLVO 102
11.1.1 COMPANY OVERVIEW 102
11.1.2 FINANCIAL OVERVIEW 103
11.1.3 PRODUCTS OFFERED 103
11.1.4 KEY DEVELOPMENTS 104
11.1.5 SWOT ANALYSIS 104
11.1.6 KEY STRATEGIES 105
11.2 DAIMLER AG 106
11.2.1 COMPANY OVERVIEW 106
11.2.2 FINANCIAL OVERVIEW 107
11.2.3 PRODUCTS OFFERED 107
11.2.4 KEY DEVELOPMENTS 108
11.2.5 SWOT ANALYSIS 108
11.2.6 KEY STRATEGIES 109
11.3 PACCAR INC. 110
11.3.1 COMPANY OVERVIEW 110
11.3.2 FINANCIAL OVERVIEW 111
11.3.3 PRODUCTS OFFERED 112
11.3.4 KEY DEVELOPMENTS 112
11.3.5 SWOT ANALYSIS 113
11.3.6 KEY STRATEGIES 113
11.4 VOLKSWAGEN AG 114
11.4.1 COMPANY OVERVIEW 114
11.4.2 FINANCIAL OVERVIEW 115
11.4.3 PRODUCTS OFFERED 115
11.4.4 KEY DEVELOPMENTS 116
11.4.5 SWOT ANALYSIS 116
11.4.6 KEY STRATEGIES 117
11.5 BYD COMPANY LIMITED 118
11.5.1 COMPANY OVERVIEW 118
11.5.2 FINANCIAL OVERVIEW 119
11.5.3 PRODUCTS OFFERED 119
11.5.4 KEY DEVELOPMENTS 120
11.5.5 SWOT ANALYSIS 121
11.5.6 KEY STRATEGIES 121
11.6 TESLA 122
11.6.1 COMPANY OVERVIEW 122
11.6.2 FINANCIAL OVERVIEW 123
11.6.3 PRODUCTS OFFERED 123
11.6.4 KEY DEVELOPMENTS 124
11.6.5 SWOT ANALYSIS 124
11.6.6 KEY STRATEGIES 125
11.7 NAVISTAR, INC. 126
11.7.1 COMPANY OVERVIEW 126
11.7.2 FINANCIAL OVERVIEW 127
11.7.3 PRODUCTS OFFERED 128
11.7.4 KEY DEVELOPMENTS 128
11.8 SCANIA 129
11.8.1 COMPANY OVERVIEW 129
11.8.2 FINANCIAL OVERVIEW 130
11.8.3 PRODUCTS OFFERED 131
11.8.4 KEY DEVELOPMENTS 131
11.9 PETERBILT 132
11.9.1 COMPANY OVERVIEW 132
11.9.2 FINANCIAL OVERVIEW 132
11.9.3 PRODUCTS OFFERED 132
11.9.4 KEY DEVELOPMENTS 132
11.10 DAF 133
11.10.1 COMPANY OVERVIEW 133
11.10.2 FINANCIAL OVERVIEW 133
11.10.3 PRODUCTS OFFERED 133
11.10.4 KEY DEVELOPMENTS 134
11.11 CHINA NATIONAL HEAVY DUTY TRUCK GROUP CO., LTD. 135
11.11.1 COMPANY OVERVIEW 135
11.11.2 FINANCIAL OVERVIEW 136
11.11.3 PRODUCTS OFFERED 137
11.11.4 KEY DEVELOPMENTS 137
11.12 RENAULT TRUCKS 138
11.12.1 COMPANY OVERVIEW 138
11.12.2 FINANCIAL OVERVIEW 138
11.12.3 PRODUCTS OFFERED 138
11.12.4 KEY DEVELOPMENTS 138
11.13 HINO MOTORS, LTD. 139
11.13.1 COMPANY OVERVIEW 139
11.13.2 FINANCIAL OVERVIEW 140
11.13.3 PRODUCTS OFFERED 140
11.13.4 KEY DEVELOPMENTS 141
11.14 NIKOLA CORPORATION 142
11.14.1 COMPANY OVERVIEW 142
11.14.2 FINANCIAL OVERVIEW 142
11.14.3 PRODUCTS OFFERED 142
11.14.4 KEY DEVELOPMENTS 143
11.15 MAN SE 144
11.15.1 COMPANY OVERVIEW 144
11.15.2 FINANCIAL OVERVIEW 145
11.15.3 PRODUCTS OFFERED 146
11.15.4 KEY DEVELOPMENTS 146
12 APPENDIX
12.1 DATA SOURCES 147
