Electric Truck Market

Electric Truck Market by Propulsion (BEV, PHEV & FCEV), Type (Light-Duty Trucks, Medium-Duty Trucks & Heavy-Duty Trucks), Range, Battery Type, Battery Capacity, Level of Automation, End User, GVWR & Region - Global Forecast to 2030

Report Code: AT 7959 Feb, 2023, by marketsandmarkets.com

The electric truck market, by value, is estimated to be 101,499 units in 2022 and is projected to reach 1,067,985 units by 2030, at a CAGR of 34.2% from 2022 to 2030. Increased focus of government on emission free vehicles and policies would drive adoption of electric trucks in the e-commerce and logistics sector. Further, It will create opportunities for OEMs to expand their revenue stream and geographical presence in electric commercial vehicle industry.

Some of the major players in the electric truck market are BYD(China), Mercedes Benz Group AG (Germany), AB Volvo (Sweden), Ford Motor Company(US) and Rivian(US) and others. These players have long-term supply contracts with leading automotive manufacturers and autonomous vehicle technology developers. These companies have adopted the strategies of new product developments, acquisitions, agreements, collaborations, expansions, joint ventures, partnerships, and supply contracts to gain traction in the electric truck market. Partnership and collaboration are the most widely adopted strategies by major players.

Electric Trucks Market

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Driver: Rising demand for electric trucks in logistics and other industries

There has been a rise in demand for electric trucks in the logistics sector across top EV markets worldwide. Medium and heavy-duty trucks are expected to witness growth as the use of EV trucks can improve the long-term profitability of this industry due to the much lower electric charging price compared to the use of other fuels. In January 2022, Workhorse Group (US) received an order for delivery trucks from the US Postal Service. The World Economic Forum (WEF) predicts a 36% increase in delivery vehicles in inner cities by 2030. The demand for electric trucks will also rise in other industries like product transport (food and beverage industry), e-commerce companies (Amazon and Walmart), and state services (post office trucks, fire trucks, and refuse trucks).

Restraint: Longer charging time

The EV charging time is much higher compared to the fueling time of other fuel alternatives. The majority of public stations have Level 2 chargers. Level 1 and 2 charging can take 8-16 hours to charge vehicles from 0-100%. A Level 3 charger can take ~60 mins to charge an EV from 0-80%. This is much higher than diesel or CNG fueling, which can happen in less than 5 mins. This has been a major reason for the slower growth of electric trucks in the market. In the coming years, technological breakthroughs will reduce charging time, but the battery will need to be developed for such fast-high voltage charging. The drivers behind the rapid deployment of public chargers are government subsidies and active infrastructure development by public utilities.

Opportunity: Development of self-driving truck technology

The electric truck market will be affected by the recent trend of self-driving trucks. Autonomous trucks use AI to automate everything from shipping yard operations to long-haul deliveries. Top OEMs like Tesla, Inc., AB Volvo, and Mercedes Benz Group AG have been developing self-driving electric trucks for the market. Startups like Embark (US), Einride (Sweden), and TuSimple (US) have also started developing self-driving electric trucks. In December 2022, TuSimple and Navistar Inc. (US) announced an agreement to develop self-driving trucks. In June 2022, Waymo (US) announced the delivery of home goods for Wayfair (US) using its fleet of autonomous semi-trailer trucks.

Challenge: High cost of existing electric trucks

The high manufacturing cost of electric trucks has been a major concern for their widespread adoption. As the demand for electric trucks rises over the next decade, the drop in battery prices and reduced R&D costs should reduce the overall cost of purchasing these vehicles. The cost of electric trucks is usually much more compared to ICE counterparts due to the high price of rechargeable lithium-ion batteries used in these vehicles. The production of electric trucks also costs much more than ICE tucks due to the expensive process involved in developing these vehicles. The cost of development of higher range electric trucks is much more due to their higher specifications of batteries, higher technology used for production, and more expensive parts used in these trucks.

‘’Increased use in e-commerce sector will drive the electric truck market’’

The increasing use of electric trucks for last mile delivery of goods from warehouses to customers is expected to boost the electric truck market in the near future. Companies are considering the addition of electric trucks and electric pickup trucks to their fleets to reduce fuel expenses and emissions. In November 2022, Tesla, Inc. announced a reach of 1.5 million pre-orders of its electric cyber truck across the globe. In October 2022, AB Volvo announced the supply of 20 VOLVO FH electric trucks to Amazon in Germany for delivery purposes. In October 2022, Performance Team (US) announced the deployment of Class 8 battery-electric trucks from Volvo Trucks North America in Southern California in response to customer demand for sustainable short haul warehouse and distribution center operations.

‘’Asia Pacific is expected to be a major electric truck market’’

Governments of economies such as China, Japan, South Korea, and India have recognized the growth potential of EV and related markets. Hence, the government have undertaken different initiatives to attract major OEMs to manufacture electric vehicles in domestic markets. This will lead to a growing demand for electric trucks in the region. The Indian government plans to make it mandatory for cab-hailing companies Ola and Uber to have 40% of their fleet as electric vehicles. These policies increased electric vehicle production volumes over the years, which cater to domestic and overseas demand. Delhi (India) set up a series of policies for deploying BEVs as 25% of all new vehicles by 2024.  In January 2022, Dongfeng Motor Corporation announced the establishment of a new production facility for electric off-road vehicles in Wuhan. This is scheduled to start production in 2023 with a planned capacity of 10,000 vehicles.

Electric Trucks Market Size, and Share

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Key Market Players

The electric trucks market is dominated by a few globally established players such as BYD(China)., Mercedes Benz Group AG (Germany), AB Volvo (Sweden), Ford Motor Company (US) and Rivian (US) and others. These players have long-term supply contracts with leading automotive manufacturers and electric vehicle technology developers. These companies have adopted the strategies of new product developments, acquisitions, agreements, collaborations, expansions, joint ventures, partnerships, and supply contracts to gain traction in the market. Partnership and collaboration are the most widely adopted strategies by major players.

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Scope of the Report

Report Metric

Details

Market size available for years

2019–2030

Base year considered

2021

Forecast period

2022-2030

Forecast Market Size

Volume (Units)

Segments covered

Electric Truck Market, by Propulsion(BEV, PHEV & FCEV), Type (Light, Medium & Heavy-duty Trucks), Range (upto 200 miles & above 200 miles), Battery Type, Battery Capacity, Level of Automation, End User, GVWR & Region - Global Forecast to 2030

Region covered

Asia Pacific, North America and Europe

Companies Covered

The electric truck market is dominated by players such as BYD(China), Mercedes Benz Group AG (Germany), AB Volvo (Sweden), Ford Motor Company(US), Rivian (US) and others
A total of 29 major company profiles covered and provided

This research report categorizes the Electric Truck market based on propulsion type, type, end user, range, battery capacity, battery type, GVWR, level of automation and region.

By Propulsion Type
  • BEV
  • PHEV
  • FCEV
By Type
  • Light-duty Trucks
  • Medium-duty Trucks
  • Heavy-duty Trucks
By End User
  • Last Mile Delivery
  • Long Haul Transportation
  • Refuse Services
  • Field Services
  • Distribution services
By Range
  • Upto 200 Miles
  • Above 200 Miles
By Battery Capacity
  • < 50 kWh
  • 50-250 kWh
  • Above 250 kWh
By GVWR
  • Upto 10,000 lbs
  • 10,001-26,000 lbs
  • Above 26,001 lbs
By Level of Automation
  • Semi-autonomous Trucks
  • Autonomous Trucks
By Battery Type
  • Lithium-nickel-manganese-cobalt Oxide
  • Lithium-iron-phosphate
  • Others
By Region
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
  • North America
    • US
    • Canada
  • Europe
    • Germany
    • France
    • UK
    • Netherlands
    • Sweden
    • Norway

Recent Developments

  • In November-2022, Tenneco announced the supply of intelligent suspension solutions and anti-vibration performance materials for Rivian. The R1T is equipped with Tenneco Clevite Elastomers front and rear suspension hubs.
  • In October-2022, Performance Team announced the deployment of Class 8 battery-electric trucks from Volvo Trucks North America in Southern California in response to customer demand for sustainable short-haul warehouse and distribution center operations. Performance Team will deploy 126 Volvo electric trucks by Q3 2023.
  • In February-2022, BYD launched BYD 8TT, which offers 483 horsepower, a top speed of 74 miles/hr, and a battery power of 422 kWh. It is mainly used for logistics by companies.

Frequently Asked Questions (FAQ):

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TABLE OF CONTENTS
 
1 INTRODUCTION (Page No. - 27)
    1.1 STUDY OBJECTIVES 
    1.2 MARKET DEFINITION 
           1.2.1 ELECTRIC TRUCKS MARKET DEFINITION, BY TYPE
           1.2.2 ELECTRIC TRUCKS MARKET DEFINITION, BY END USER
           1.2.3 ELECTRIC TRUCKS MARKET DEFINITION, BY BATTERY TYPE
           1.2.4 ELECTRIC TRUCKS MARKET DEFINITION, BY PROPULSION TYPE
           1.2.5 ELECTRIC TRUCKS MARKET DEFINITION, BY LEVEL OF AUTOMATION
    1.3 ELECTRIC TRUCKS MARKET: INCLUSIONS AND EXCLUSIONS 
           1.3.1 INCLUSIONS AND EXCLUSIONS
    1.4 MARKET SCOPE 
           FIGURE 1 MARKET SEGMENTATION: ELECTRIC TRUCKS MARKET
           1.4.1 YEARS CONSIDERED
    1.5 CURRENCY CONSIDERED 
           TABLE 1 CURRENCY EXCHANGE RATES (PER USD)
    1.6 STAKEHOLDERS 
    1.7 SUMMARY OF CHANGES 
 
2 RESEARCH METHODOLOGY (Page No. - 34)
    2.1 RESEARCH DATA 
           FIGURE 2 ELECTRIC TRUCKS MARKET: RESEARCH DESIGN
           2.1.1 SECONDARY DATA
                    2.1.1.1 Key data from secondary sources
                    2.1.1.2 List of secondary sources
           2.1.2 PRIMARY DATA
                    2.1.2.1 List of participating companies for primary research
                    2.1.2.2 Key industry insights
                    2.1.2.3 Breakdown of primary interviews
                               FIGURE 3 BREAKDOWN OF PRIMARY INTERVIEWS, BY COMPANY, DESIGNATION,  AND REGION
    2.2 MARKET SIZE ESTIMATION 
           2.2.1 RECESSION IMPACT ANALYSIS
           2.2.2 BOTTOM-UP APPROACH
                    FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY FOR ELECTRIC TRUCKS MARKET: BOTTOM-UP APPROACH
           2.2.3 TOP-DOWN APPROACH
                    FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY FOR ELECTRIC TRUCKS MARKET: TOP-DOWN APPROACH
                    FIGURE 6 NORTH AMERICA: ELECTRIC TRUCKS MARKET, BY MEDIUM AND  HEAVY-DUTY TRUCK TYPE, 2022 VS. 2030 (UNITS)
                    FIGURE 7 EUROPE: ELECTRIC TRUCKS MARKET, BY MEDIUM AND  HEAVY-DUTY TRUCK TYPE, 2022 VS. 2030 (UNITS)
                    FIGURE 8 ASIA PACIFIC: ELECTRIC TRUCKS MARKET, BY MEDIUM AND  HEAVY-DUTY TRUCK TYPE, 2022 VS. 2030 (UNITS)
    2.3 FACTOR ANALYSIS 
           2.3.1 RECESSION IMPACT ANALYSIS
           2.3.2 FACTOR ANALYSIS FOR MARKET SIZING: DEMAND-  AND SUPPLY-SIDE
    2.4 DATA TRIANGULATION 
           FIGURE 9 DATA TRIANGULATION
    2.5 RESEARCH ASSUMPTIONS 
    2.6 RISK ASSESSMENT 
    2.7 RESEARCH LIMITATIONS 
 
3 EXECUTIVE SUMMARY (Page No. - 46)
    FIGURE 10 ELECTRIC TRUCKS MARKET: MARKET DYNAMICS 
    FIGURE 11 ELECTRIC TRUCKS MARKET, BY REGION, 2022 VS. 2030 (UNITS) 
    FIGURE 12 ELECTRIC TRUCKS MARKET, BY BATTERY TYPE, 2022 VS. 2030 (UNITS) 
    FIGURE 13 NORTH AMERICA: ELECTRIC TRUCKS MARKET, BY FUEL TYPE,  2022 VS. 2030 (UNITS) 
    FIGURE 14 ASIA PACIFIC: ELECTRIC TRUCKS MARKET, BY FUEL TYPE,  2022 VS. 2030 (UNITS) 
    FIGURE 15 EUROPE: ELECTRIC TRUCKS MARKET, BY FUEL TYPE, 2022 VS. 2030 (UNITS) 
 
4 PREMIUM INSIGHTS (Page No. - 50)
    4.1 ATTRACTIVE OPPORTUNITIES IN ELECTRIC TRUCKS MARKET 
           FIGURE 16 INCREASED FUEL-EFFICIENT VEHICLE OWNERSHIP TO DRIVE DEMAND FOR ELECTRIC TRUCKS
    4.2 ELECTRIC TRUCKS MARKET, BY REGION 
           FIGURE 17 ASIA PACIFIC ACCOUNTED FOR LARGEST MARKET SHARE IN 2022
    4.3 ELECTRIC TRUCKS MARKET, BY BATTERY CAPACITY 
           FIGURE 18 50-250 KWH PROJECTED TO BE LARGEST MARKET (2022-2030) (UNITS)
    4.4 ELECTRIC TRUCKS MARKET, BY BATTERY TYPE 
           FIGURE 19 LITHIUM-IRON-PHOSPHATE SEGMENT TO BE DOMINANT SEGMENT DURING FORECAST PERIOD (UNITS)
    4.5 ELECTRIC TRUCKS MARKET, BY END USER 
           FIGURE 20 LAST MILE DELIVERY TO BE LARGER SEGMENT DURING FORECAST PERIOD
    4.6 ELECTRIC TRUCKS MARKET, BY RANGE 
           FIGURE 21 UPTO 200 MILES SEGMENT TO WITNESS HIGHER GROWTH (2022- 2030)
    4.7 ELECTRIC TRUCKS MARKET, BY PROPULSION TYPE 
           FIGURE 22 FCEV SEGMENT TO HAVE HIGHER GROWTH DURING FORECAST PERIOD
    4.8 ELECTRIC TRUCKS MARKET, BY LEVEL OF AUTOMATION 
           FIGURE 23 SEMI-AUTONOMOUS TRUCKS SEGMENT TO REGISTER HIGHEST GROWTH DURING FORECAST PERIOD
    4.9 ELECTRIC TRUCKS MARKET, BY TYPE 
           FIGURE 24 LIGHT-DUTY TRUCKS TO HAVE HIGH GROWTH DURING FROM  2022 TO 2030 (UNITS)
 
5 MARKET OVERVIEW (Page No. - 55)
    5.1 INTRODUCTION 
    5.2 MARKET DYNAMICS 
           FIGURE 25 ELECTRIC TRUCKS MARKET: MARKET DYNAMICS
           TABLE 2 ELECTRIC TRUCKS MARKET: IMPACT OF MARKET DYNAMICS
           5.2.1 DRIVERS
                    5.2.1.1 Reducing cost of EV batteries
                               FIGURE 26 EV BATTERY PRICING ANALYSIS
                    5.2.1.2 Lower operating cost
                               FIGURE 27 OPERATING COST: ELECTRIC TRUCKS VS. ICE TRUCKS (2022)
                               TABLE 3 AVERAGE GASOLINE PRICES IN US (2016-2022)
                               TABLE 4 AVERAGE DIESEL PRICES IN US (2016–2022)
                    5.2.1.3 Increasing vehicle range
                               TABLE 5 NEW EV TRUCK MODELS, BY RANGE, BY BATTERY CAPACITY, AND AVERAGE PRICE (2022)
                    5.2.1.4 Rising demand for electric trucks in logistics and other industries
                               TABLE 6 MAJOR PURCHASE ORDER/SUPPLY CONTRACT FOR ELECTRIC TRUCKS
                    5.2.1.5 Government initiatives for EVs
                               TABLE 7 GOVERNMENT PROGRAMS FOR PROMOTION OF ELECTRIC COMMERCIAL VEHICLE SALES
                               FIGURE 28 ELECTRIFICATION TARGET, BY COUNTRY
                               FIGURE 29 REGULATORY COMPARISON FOR EVS WORLDWIDE
           5.2.2 RESTRAINTS
                    5.2.2.1 High initial investment for production
                    5.2.2.2 Lack of EV charging infrastructure
                               FIGURE 30 EV CHARGER DENSITY COMPARISON (2021)
                               FIGURE 31 PRIVATE, SEMI-PUBLIC, AND PUBLIC CHARGING
                    5.2.2.3 Longer charging time
                               FIGURE 32 CHARGING TIME REQUIRED USING DIFFERENT TYPES
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Development of self-driving truck technology
                    5.2.3.2 Development of wireless EV charging technology
                    5.2.3.3 Rapid development in fuel cell technology
           5.2.4 CHALLENGES
                    5.2.4.1 High cost of existing electric trucks
                    5.2.4.2 Insufficient standardization of EV charging infrastructure
                               FIGURE 33 EV CHARGERS USED GLOBALLY
    5.3 PORTER’S FIVE FORCES 
           FIGURE 34 PORTER’S FIVE FORCES: ELECTRIC TRUCKS MARKET
           TABLE 8 ELECTRIC TRUCKS MARKET: IMPACT OF PORTERS 5 FORCES
           5.3.1 THREAT OF SUBSTITUTES
           5.3.2 THREAT OF NEW ENTRANTS
           5.3.3 BARGAINING POWER OF BUYERS
           5.3.4 BARGAINING POWER OF SUPPLIERS
           5.3.5 INTENSITY OF COMPETITIVE RIVALRY
    5.4 MACROECONOMIC INDICATORS 
           5.4.1 GDP TRENDS AND FORECAST FOR MAJOR ECONOMIES
                    TABLE 9 GDP TRENDS AND FORECAST, BY MAJOR ECONOMIES, 2019–2026 (USD BILLION)
    5.5 ELECTRIC TRUCKS MARKET ECOSYSTEM 
           FIGURE 35 ELECTRIC TRUCKS MARKET: ECOSYSTEM ANALYSIS
           5.5.1 EV CHARGING PROVIDERS
           5.5.2 RAW MATERIAL SUPPLIERS
           5.5.3 OEMS
           5.5.4 BATTERY MANUFACTURER/COMPONENT MANUFACTURER
           5.5.5 ELECTRIC VEHICLE STARTUP ECOSYSTEM ANALYSIS
                    FIGURE 36 EV STARTUP ECOSYSTEM ANALYSIS
           5.5.6 EV ROADMAP, BY BATTERY CAPACITY AND RANGE
                    FIGURE 37 EV ROADMAP, BY BATTERY CAPACITY AND RANGE
    5.6 VALUE CHAIN ANALYSIS 
           FIGURE 38 VALUE CHAIN ANALYSIS
           FIGURE 39 TRENDS AND DISRUPTIONS IN ELECTRIC TRUCKS MARKET
    5.7 PRICING ANALYSIS 
           TABLE 10 DIESEL/PETROL TRUCKS: AVERAGE PRICE COMPARISON (2022)
           TABLE 11 ELECTRIC TRUCKS: AVERAGE PRICE COMPARISON
    5.8 CASE STUDIES 
           5.8.1 USER EXPERIENCE OF BATTERY-ELECTRIC TRUCKS IN NORWAY
    5.9 TECHNOLOGY ANALYSIS 
           5.9.1 SMART CHARGING SYSTEM
                    FIGURE 40 SMART EV CHARGING SYSTEM
           5.9.2 SOLID-STATE BATTERIES (SSB)
           5.9.3 IOT IN ELECTRIC VEHICLES
           5.9.4 RANGE EXTENDERS IN ELECTRIC TRUCKS
           5.9.5 BATTERY TECHNOLOGY ANALYSIS, BY BATTERY CHEMISTRY
                    FIGURE 41 BATTERY MANUFACTURER ROADMAP, BY BATTERY CHEMISTRY WRT  BATTERY TYPE
           5.9.6 BATTERY TECHNOLOGY ANALYSIS, BY BATTERY SIZE IN ASIA PACIFIC
                    FIGURE 42 AVERAGE BATTERY SIZE IN TOP LCVS IN ASIA PACIFIC
           5.9.7 CELL TO PACK TECHNOLOGY
           5.9.8 MEGAWATT CHARGING SYSTEM FOR HEAVY-DUTY TRUCKS
           5.9.9 WIRELESS ROAD CHARGING FOR EVS
    5.10 BILL OF MATERIAL 
           FIGURE 43 ELECTRIC TRUCKS MARKET: BILL OF MATERIALS FOR LCV
           FIGURE 44 ELECTRIC TRUCKS MARKET BILL OF MATERIAL, BATTERY VS. NON-BATTERY
    5.11 OEMS SOURCING STRATEGIES 
           5.11.1 FUTURE INTENDED SOURCING STRATEGIES OF OEMS IN ELECTRIC TRUCKS MARKET
                    FIGURE 45 ELECTRIC TRUCKS MARKET: FUTURE STRATEGIES
           5.11.2 OEMS MOTOR RATING ANALYSIS, BY RANGE
                    FIGURE 46 ELECTRIC TRUCKS MARKET: BY RANGE
           5.11.3 COMPETITIVE MARKET ASSESSMENT, BY PAYLOAD CAPACITY
                    FIGURE 47 ELECTRIC TRUCKS COMPETITIVE ASSESSMENT, BY PAYLOAD CAPACITY
                    FIGURE 48 ELECTRIC TRUCKS CARGO DELIVERY VS. PAYLOAD CAPACITY
    5.12 REGULATORY OVERVIEW 
           5.12.1 NETHERLANDS
                    TABLE 12 NETHERLANDS: INCENTIVES FOR ELECTRIC VEHICLES
                    TABLE 13 NETHERLANDS: ELECTRIC VEHICLE CHARGING STATION INCENTIVES
           5.12.2 GERMANY
                    TABLE 14 GERMANY: ELECTRIC VEHICLE INCENTIVES
                    TABLE 15 GERMANY: ELECTRIC VEHICLE CHARGING STATION INCENTIVES
           5.12.3 FRANCE
                    TABLE 16 FRANCE: ELECTRIC VEHICLE INCENTIVES
                    TABLE 17 FRANCE: ELECTRIC VEHICLE CHARGING STATION INCENTIVES
           5.12.4 UK
                    TABLE 18 UK: ELECTRIC VEHICLE INCENTIVES
                    TABLE 19 UK: ELECTRIC VEHICLE CHARGING STATION INCENTIVES
           5.12.5 CHINA
                    TABLE 20 CHINA: ELECTRIC VEHICLE INCENTIVES
                    TABLE 21 CHINA: ELECTRIC VEHICLE CHARGING STATION INCENTIVES
           5.12.6 US
                    TABLE 22 US: ELECTRIC VEHICLE INCENTIVES
                    TABLE 23 US: ELECTRIC VEHICLE CHARGING STATION INCENTIVES
    5.13 CONFERENCES AND EVENTS, 2023–2024 
                    TABLE 24 ELECTRIC TRUCKS MARKET: CONFERENCES AND EVENTS, 2023–2024
           5.13.1 REGULATORY BODIES, GOVERNMENT AGENCIES,  AND OTHER ORGANIZATIONS
                    TABLE 25 ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES,  AND OTHER ORGANIZATIONS
                    TABLE 26 NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES,  AND OTHER ORGANIZATIONS
                    TABLE 27 EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 28 REST OF THE WORLD: REGULATORY BODIES, GOVERNMENT AGENCIES,  AND OTHER ORGANIZATIONS
    5.14 PATENT ANALYSIS 
                    TABLE 29 IMPORTANT PATENT REGISTRATIONS RELATED TO ELECTRIC TRUCKS MARKET
                    TABLE 30 ELECTRIC TRUCKS MARKET: PATENTED DOCUMENTS ANALYSIS, BY PUBLISHED, FILED,  AND GRANTED (2016–2021)
    5.15 KEY STAKEHOLDERS AND BUYING CRITERIA 
           5.15.1 KEY STAKEHOLDERS IN BUYING PROCESS
                    TABLE 31 INFLUENCE OF INSTITUTIONAL BUYERS FOR PURCHASE OF ELECTRIC TRUCKS
           5.15.2 BUYING CRITERIA
    5.16 RECESSION IMPACT ANALYSIS 
                    TABLE 32 INFLUENCE OF RECESSION ON SALES OF ELECTRIC TRUCKS
    5.17 ELECTRIC TRUCKS MARKET, SCENARIOS (2022–2030) 
           5.17.1 MOST LIKELY SCENARIO
                    TABLE 33 ELECTRIC TRUCKS MARKET (MOST LIKELY), BY REGION, 2022–2030 (UNITS)
           5.17.2 OPTIMISTIC SCENARIO
                    TABLE 34 ELECTRIC TRUCKS MARKET (OPTIMISTIC), BY REGION, 2022–2030 (UNITS)
           5.17.3 PESSIMISTIC SCENARIO
                    TABLE 35 ELECTRIC TRUCKS MARKET (PESSIMISTIC), BY REGION, 2022–2030 (UNITS)
 
6 ELECTRIC TRUCKS MARKET, BY BATTERY CAPACITY (Page No. - 104)
    6.1 INTRODUCTION 
           FIGURE 49 50–250 KWH SEGMENT TO DOMINATE ELECTRIC TRUCKS MARKET,  2022–2030 (UNITS)
           TABLE 36 ELECTRIC TRUCKS MARKET, BY BATTERY CAPACITY, 2019–2021 (UNITS)
           TABLE 37 ELECTRIC TRUCKS MARKET, BY BATTERY CAPACITY, 2022–2030 (UNITS)
           6.1.1 OPERATIONAL DATA
                    TABLE 38 ELECTRIC TRUCKS: BY BATTERY CAPACITY
           6.1.2 ASSUMPTIONS
           6.1.3 RESEARCH METHODOLOGY
    6.2 <50 KWH 
           6.2.1 HIGH ADOPTION RATE IN ELECTRIC PICKUP TRUCKS
                    TABLE 39 <50 KWH: ELECTRIC TRUCKS MARKET, BY REGION, 2019–2021 (UNITS)
                    TABLE 40 <50 KWH: ELECTRIC TRUCKS MARKET, BY REGION, 2022–2030 (UNITS)
    6.3 50–250 KWH 
           6.3.1 INCREASED USE IN LIGHT COMMERCIAL VEHICLES IN  NORTH AMERICA
                    TABLE 41 50–250 KWH: ELECTRIC TRUCK MARKET, BY REGION, 2019–2021 (UNITS)
                    TABLE 42 50–250 KWH: ELECTRIC TRUCK MARKET, BY REGION, 2022–2030 (UNITS)
    6.4 ABOVE 250 KWH 
           6.4.1 USED FOR TRANSPORTATION OF HEAVY LOGISTICS
                    TABLE 43 ABOVE 250 KWH: ELECTRIC TRUCK MARKET, BY REGION, 2019–2021 (UNITS)
                    TABLE 44 ABOVE 250 KWH: ELECTRIC TRUCKS MARKET, BY REGION, 2022–2030 (UNITS)
    6.5 KEY INDUSTRY INSIGHTS 
 
7 ELECTRIC TRUCKS MARKET, BY BATTERY TYPE (Page No. - 111)
    7.1 INTRODUCTION 
           FIGURE 50 ELECTRIC TRUCKS MARKET, BY BATTERY TYPE, 2022–2030 (UNITS)
           TABLE 45 ELECTRIC TRUCKS MARKET, BY BATTERY TYPE, 2019-2021 (UNITS)
           TABLE 46 ELECTRIC TRUCKS MARKET, BY BATTERY TYPE, 2022-2030 (UNITS)
           7.1.1 OPERATIONAL DATA
                    TABLE 47 ELECTRIC TRUCKS: BY BATTERY TYPE
           7.1.2 ASSUMPTIONS
           7.1.3 RESEARCH METHODOLOGY
    7.2 LITHIUM-NICKEL-MANGANESE-COBALT OXIDE 
           7.2.1 ADVANCEMENTS IN BATTERY TECHNOLOGY
                    TABLE 48 LITHIUM-NICKEL-MANGANESE-COBALT OXIDE: ELECTRIC TRUCKS MARKET, BY REGION, 2019-2021 (UNITS)
                    TABLE 49 LITHIUM-NICKEL-MANGANESE-COBALT OXIDE: ELECTRIC TRUCKS MARKET, BY REGION, 2022-2030 (UNITS)
    7.3 LITHIUM-IRON-PHOSPHATE 
           7.3.1 LOWER PRICES THAN OTHER BATTERIES
                    TABLE 50 LITHIUM-IRON-PHOSPHATE: ELECTRIC TRUCKS MARKET, BY REGION,  2019-2021 (UNITS)
                    TABLE 51 LITHIUM-IRON-PHOSPHATE: ELECTRIC TRUCKS MARKET, BY REGION,  2022-2030 (UNITS)
    7.4 OTHERS 
           7.4.1 R&D INVESTMENTS BY OEMS TO DEVELOP BATTERIES
                    TABLE 52 OTHERS: ELECTRIC TRUCKS MARKET, BY REGION, 2019-2021 (UNITS)
                    TABLE 53 OTHERS: ELECTRIC TRUCKS MARKET, BY REGION, 2022-2030 (UNITS)
    7.5 KEY INDUSTRY INSIGHTS 
 
8 ELECTRIC TRUCKS MARKET, BY END USER (Page No. - 119)
    8.1 INTRODUCTION 
           FIGURE 51 ELECTRIC TRUCKS MARKET, BY END USER, 2022–2030 (UNITS)
           TABLE 54 ELECTRIC TRUCKS MARKET, BY END USER, 2019–2021 (UNITS)
           TABLE 55 ELECTRIC TRUCKS MARKET, BY END USER, 2022–2030 (UNITS)
           8.1.1 OPERATIONAL DATA
                    TABLE 56 ELECTRIC TRUCKS: BY END USER
           8.1.2 ASSUMPTIONS
           8.1.3 RESEARCH METHODOLOGY
    8.2 LAST MILE DELIVERY 
           8.2.1 INCREASED USE IN E-COMMERCE SECTOR
    8.3 FIELD SERVICES 
           8.3.1 RISING USE IN FIELD MAINTENANCE
    8.4 DISTRIBUTION SERVICES 
           8.4.1 USED FOR DELIVERY SERVICES
    8.5 LONG HAUL TRANSPORTATION 
           8.5.1 MANAGES LOGISTICS
    8.6 REFUSE SERVICES 
           8.6.1 HANDLES GLOBAL WASTE MANAGEMENT
    8.7 KEY INDUSTRY INSIGHTS 
 
9 ELECTRIC TRUCKS MARKET, BY GVWR (Page No. - 125)
    9.1 INTRODUCTION 
           9.1.1 OPERATIONAL DATA
                    TABLE 57 OPERATIONAL DATA: ELECTRIC TRUCKS DATA BASED ON GVWR
    9.2 UPTO 10,000 LBS 
           9.2.1 USED FOR DELIVERY AND REFUSE SERVICES
    9.3 10,001–26,000 LBS 
           9.3.1 INCREASED USE FOR DISTRIBUTION, CONSTRUCTION, AND FIELD SERVICES
    9.4 ABOVE 26,000 LBS 
           9.4.1 CARRIES HEAVY GOODS
 
10 ELECTRIC TRUCKS MARKET, BY LEVEL OF AUTOMATION (Page No. - 128)
     10.1 INTRODUCTION 
               FIGURE 52 ELECTRIC TRUCKS MARKET, BY LEVEL OF AUTOMATION, 2022–2030 (UNITS)
               TABLE 58 ELECTRIC TRUCKS MARKET, BY LEVEL OF AUTOMATION, 2019–2021 (UNITS)
               TABLE 59 ELECTRIC TRUCKS MARKET, BY LEVEL OF AUTOMATION, 2022–2030 (UNITS)
             10.1.1 ASSUMPTIONS
             10.1.2 RESEARCH METHODOLOGY
     10.2 LEVEL 1 
             10.2.1 LANE ASSIST FEATURES IN ELECTRIC TRUCKS
     10.3 LEVEL 2 & 3 
             10.3.1 INCREASING INVESTMENTS BY OEMS TO PROMOTE LEVEL 2 & 3 SEMI-AUTONOMOUS TRUCKS
     10.4 LEVEL 4 
             10.4.1 INCREASING SUBSIDIES BY GOVERNMENTS
     10.5 LEVEL 5 
             10.5.1 PROVIDES IMPROVED VEHICLE SAFETY AND REDUCED TRAFFIC CONGESTION
     10.6 KEY INDUSTRY INSIGHTS 
 
11 ELECTRIC TRUCKS MARKET, BY PROPULSION TYPE (Page No. - 134)
     11.1 INTRODUCTION 
               FIGURE 53 ELECTRIC TRUCKS MARKET, BY PROPULSION TYPE, 2022–2030 (UNITS)
               TABLE 60 ELECTRIC TRUCKS MARKET, BY PROPULSION TYPE, 2019–2021 (UNITS)
               TABLE 61 ELECTRIC TRUCKS MARKET, BY PROPULSION TYPE, 2022–2030 (UNITS)
             11.1.1 OPERATIONAL DATA
                       TABLE 62 ELECTRIC TRUCKS: BY PROPULSION TYPE
             11.1.2 ASSUMPTIONS
             11.1.3 RESEARCH METHODOLOGY
     11.2 BEV 
             11.2.1 GOVERNMENT INCENTIVES AND SUBSIDIES OFFERED WORLDWIDE
                       TABLE 63 BEV: ELECTRIC TRUCKS MARKET, BY REGION, 2019–2021 (UNITS)
                       TABLE 64 BEV: ELECTRIC TRUCKS MARKET, BY REGION, 2022–2030 (UNITS)
     11.3 FCEV 
             11.3.1 ONGOING DEVELOPMENTS BY OEMS
                       TABLE 65 FCEV: ELECTRIC TRUCKS MARKET, BY REGION, 2019–2021 (UNITS)
                       TABLE 66 FCEV: ELECTRIC TRUCKS MARKET, BY REGION, 2022–2030 (UNITS)
     11.4 PHEV 
             11.4.1 RECHARGEABLE BATTERIES WITH LESS FUEL CONSUMPTION
                       TABLE 67 PHEV: ELECTRIC TRUCKS MARKET, BY REGION, 2019–2021 (UNITS)
                       TABLE 68 PHEV: ELECTRIC TRUCKS MARKET, BY REGION, 2022–2030 (UNITS)
     11.5 KEY INDUSTRY INSIGHTS 
 
12 ELECTRIC TRUCKS MARKET, BY RANGE (Page No. - 141)
     12.1 INTRODUCTION 
               FIGURE 54 ELECTRIC TRUCKS MARKET, BY RANGE, 2022–2030 (UNITS)
               TABLE 69 ELECTRIC TRUCKS MARKET, BY RANGE, 2019–2021 (UNITS)
               TABLE 70 ELECTRIC TRUCKS MARKET, BY RANGE, 2022–2030 (UNITS)
             12.1.1 OPERATIONAL DATA
                       TABLE 71 ELECTRIC TRUCKS: BY RANGE
             12.1.2 ASSUMPTIONS
             12.1.3 RESEARCH METHODOLOGY
     12.2 UPTO 200 MILES 
             12.2.1 AFFORDABLE AND LOW-COST BATTERIES
                       TABLE 72 UPTO 200 MILES: ELECTRIC TRUCKS MARKET, BY REGION, 2019–2021 (UNITS)
                       TABLE 73 UPTO 200 MILES: ELECTRIC TRUCKS MARKET, BY REGION, 2022–2030 (UNITS)
     12.3 ABOVE 200 MILES 
             12.3.1 USED FOR LONG HAUL TRANSPORTATION
                       TABLE 74 ABOVE 200 MILES: ELECTRIC TRUCKS MARKET, BY REGION, 2019–2021 (UNITS)
                       TABLE 75 ABOVE 200 MILES: ELECTRIC TRUCKS MARKET, BY REGION, 2022–2030 (UNITS)
     12.4 KEY INDUSTRY INSIGHTS 
 
13 ELECTRIC TRUCKS MARKET, BY TYPE (Page No. - 147)
     13.1 INTRODUCTION 
               FIGURE 55 ELECTRIC TRUCKS MARKET, BY TYPE, 2022–2030 (UNITS)
               TABLE 76 ELECTRIC TRUCKS MARKET, BY TYPE, 2019–2021 (UNITS)
               TABLE 77 ELECTRIC TRUCKS MARKET, BY TYPE, 2022–2030 (UNITS)
             13.1.1 OPERATIONAL DATA
                       TABLE 78 ELECTRIC TRUCKS: BY TYPE
             13.1.2 ASSUMPTIONS
             13.1.3 RESEARCH METHODOLOGY
     13.2 LIGHT-DUTY TRUCKS 
             13.2.1 USED FOR COMMERCIAL LAST MILE DELIVERY
                       TABLE 79 LIGHT-DUTY TRUCKS: ELECTRIC TRUCKS MARKET, BY REGION, 2019–2021 (UNITS)
                       TABLE 80 LIGHT-DUTY TRUCK: ELECTRIC TRUCKS MARKET, BY REGION, 2022–2030 (UNITS)
     13.3 MEDIUM-DUTY TRUCKS 
             13.3.1 MANAGES E-COMMERCE AND INTRA-STATE LOGISTICS
                       TABLE 81 MEDIUM-DUTY TRUCKS: ELECTRIC TRUCKS MARKET, BY REGION, 2019–2021 (UNITS)
                       TABLE 82 MEDIUM-DUTY TRUCKS: ELECTRIC TRUCKS MARKET, BY REGION, 2022–2030 (UNITS)
     13.4 HEAVY-DUTY TRUCKS 
             13.4.1 INCLUDES INTER-STATE DELIVERY AND SPECIALIZED VEHICLES
                       TABLE 83 HEAVY-DUTY TRUCKS: ELECTRIC TRUCKS MARKET, BY REGION, 2019–2021 (UNITS)
                       TABLE 84 HEAVY-DUTY TRUCKS: ELECTRIC TRUCKS MARKET, BY REGION, 2022–2030 (UNITS)
     13.5 KEY INDUSTRY INSIGHTS 
 
14 ELECTRIC TRUCKS MARKET, BY REGION (Page No. - 154)
     14.1 INTRODUCTION 
               FIGURE 56 ELECTRIC TRUCKS MARKET, BY REGION, 2022 VS. 2030 (UNITS)
               TABLE 85 ELECTRIC TRUCKS MARKET, BY REGION, 2019–2021 (UNITS)
               TABLE 86 ELECTRIC TRUCKS MARKET, BY REGION, 2022–2030 (UNITS)
               TABLE 87 ELECTRIC TRUCKS MARKET, BY REGION, 2019–2021 (USD MILLION)
               TABLE 88 ELECTRIC TRUCKS MARKET, BY REGION, 2022–2030 (USD MILLION)
     14.2 ASIA PACIFIC 
               FIGURE 57 ASIA PACIFIC: ELECTRIC TRUCKS MARKET SNAPSHOT
               TABLE 89 ASIA PACIFIC: ELECTRIC TRUCKS MARKET, BY COUNTRY, 2019–2021 (UNITS)
               TABLE 90 ASIA PACIFIC: ELECTRIC TRUCKS MARKET, BY COUNTRY, 2022–2030 (UNITS)
             14.2.1 CHINA
                       14.2.1.1 Increased investments in charging infrastructure
                                   TABLE 91 CHINA: ELECTRIC TRUCKS MARKET, BY TYPE, 2019–2021 (UNITS)
                                   TABLE 92 CHINA: ELECTRIC TRUCKS MARKET, BY TYPE, 2022–2030 (UNITS)
             14.2.2 INDIA
                       14.2.2.1 Government initiatives for electric trucks
                                   TABLE 93 INDIA: ELECTRIC TRUCKS MARKET, BY TYPE, 2019–2021 (UNITS)
                                   TABLE 94 INDIA: ELECTRIC TRUCKS MARKET, BY TYPE, 2022–2030 (UNITS)
             14.2.3 JAPAN
                       14.2.3.1 Advancements in battery technology
                                   TABLE 95 JAPAN: ELECTRIC TRUCKS MARKET, BY TYPE, 2019–2021 (UNITS)
                                   TABLE 96 JAPAN: ELECTRIC TRUCKS MARKET, BY TYPE, 2022–2030 (UNITS)
             14.2.4 SOUTH KOREA
                       14.2.4.1 Increased investments in commercial electric vehicles
                                   TABLE 97 SOUTH KOREA: ELECTRIC TRUCKS MARKET, BY TYPE, 2019–2021 (UNITS)
                                   TABLE 98 SOUTH KOREA: ELECTRIC TRUCKS MARKET, BY TYPE, 2022–2030 (UNITS)
     14.3 EUROPE 
             14.3.1 EUROPE: RECESSION IMPACT
                       FIGURE 58 EUROPE: ELECTRIC TRUCKS MARKET SNAPSHOT, 2022 VS. 2030 (UNITS)
                       TABLE 99 EUROPE: ELECTRIC TRUCKS MARKET, BY COUNTRY, 2019–2021 (UNITS)
                       TABLE 100 EUROPE: ELECTRIC TRUCKS MARKET, BY COUNTRY, 2022–2030 (UNITS)
             14.3.2 FRANCE
                       14.3.2.1 Government offers purchase grants
                                   TABLE 101 FRANCE: ELECTRIC TRUCKS MARKET, BY TYPE, 2019–2021 (UNITS)
                                   TABLE 102 FRANCE: ELECTRIC TRUCKS MARKET, BY TYPE, 2022–2030 (UNITS)
             14.3.3 GERMANY
                       14.3.3.1 E-highway program
                                   TABLE 103 GERMANY: ELECTRIC TRUCKS MARKET, BY TYPE, 2019–2021 (UNITS)
                                   TABLE 104 GERMANY: ELECTRIC TRUCKS MARKET, BY TYPE, 2022–2030 (UNITS)
             14.3.4 NETHERLANDS
                       14.3.4.1 Focus on greener vehicles
                                   TABLE 105 NETHERLANDS: ELECTRIC TRUCKS MARKET, BY TYPE, 2019–2021 (UNITS)
                                   TABLE 106 NETHERLANDS: ELECTRIC TRUCKS MARKET, BY TYPE, 2022–2030 (UNITS)
             14.3.5 NORWAY
                       14.3.5.1 Tax incentives for electric vehicles
                                   TABLE 107 NORWAY: ELECTRIC TRUCKS MARKET, BY TYPE, 2019–2021 (UNITS)
                                   TABLE 108 NORWAY: ELECTRIC TRUCKS MARKET, BY TYPE, 2022–2030 (UNITS)
             14.3.6 SWEDEN
                       14.3.6.1 Presence of top OEMs
                                   TABLE 109 SWEDEN: ELECTRIC TRUCKS MARKET, BY TYPE, 2019–2021 (UNITS)
                                   TABLE 110 SWEDEN: ELECTRIC TRUCKS MARKET, BY TYPE, 2022–2030 (UNITS)
             14.3.7 UK
                       14.3.7.1 Investment in ultra-low emission vehicles
                                   TABLE 111 UK: ELECTRIC TRUCKS MARKET, BY TYPE, 2019–2021 (UNITS)
                                   TABLE 112 UK: ELECTRIC TRUCKS MARKET, BY TYPE, 2022–2030 (UNITS)
     14.4 NORTH AMERICA 
               FIGURE 59 NORTH AMERICA: ELECTRIC TRUCKS MARKET SNAPSHOT
               TABLE 113 NORTH AMERICA: ELECTRIC TRUCKS MARKET, BY COUNTRY, 2019–2021 (UNITS)
               TABLE 114 NORTH AMERICA: ELECTRIC TRUCKS MARKET, BY COUNTRY, 2022–2030 (UNITS)
             14.4.1 CANADA
                       14.4.1.1 Increasing development in electric vehicles infrastructure
                                   TABLE 115 CANADA: ELECTRIC TRUCK MARKET, BY TYPE, 2019–2021 (UNITS)
                                   TABLE 116 CANADA: ELECTRIC TRUCK MARKET, BY TYPE, 2022–2030 (UNITS)
             14.4.2 US
                       14.4.2.1 Increasing developments in electric truck technology
                                   TABLE 117 US: ELECTRIC TRUCKS MARKET, BY TYPE, 2019–2021 (UNITS)
                                   TABLE 118 US: ELECTRIC TRUCKS MARKET, BY TYPE, 2022–2030 (UNITS)
 
15 COMPETITIVE LANDSCAPE (Page No. - 175)
     15.1 OVERVIEW 
             15.1.1 OEMS VEHICLE MODELS LAUNCH PLANS, 2023–2026
                       FIGURE 60 ELECTRIC TRUCKS MARKET: OEMS VEHICLE MODEL LAUNCH PLANS
     15.2 MARKET SHARE ANALYSIS FOR ELECTRIC TRUCKS MARKET 
               TABLE 119 MARKET SHARE ANALYSIS, 2022
               FIGURE 61 MARKET SHARE ANALYSIS, 2022
     15.3 KEY PLAYER STRATEGIES 
               TABLE 120 OVERVIEW OF STRATEGIES ADOPTED BY PLAYERS IN ELECTRIC TRUCKS MARKET
     15.4 REVENUE ANALYSIS OF TOP LISTED/PUBLIC PLAYERS 
               FIGURE 62 TOP PUBLIC/LISTED PLAYERS DOMINATING ELECTRIC TRUCKS MARKET DURING LAST FIVE YEARS
     15.5 COMPETITIVE SCENARIO 
             15.5.1 PRODUCT LAUNCHES/DEVELOPMENTS
                       TABLE 121 ELECTRIC TRUCKS MARKET: PRODUCT LAUNCHES/DEVELOPMENTS,  JULY 2021–DECEMBER 2022
             15.5.2 DEALS
                       TABLE 122 ELECTRIC TRUCKS MARKET: DEALS, DECEMBER 2021–NOVEMBER 2022
             15.5.3 EXPANSIONS
                       TABLE 123 ELECTRIC TRUCKS MARKET: EXPANSIONS, MARCH 2021–NOVEMBER 2022
     15.6 COMPANY EVALUATION QUADRANT 
             15.6.1 STARS
             15.6.2 EMERGING LEADERS
             15.6.3 PERVASIVE PLAYERS
             15.6.4 PARTICIPANTS
                       FIGURE 63 ELECTRIC TRUCKS MARKET: COMPANY EVALUATION QUADRANT, 2023
                       TABLE 124 ELECTRIC TRUCKS MARKET: COMPANY FOOTPRINT, 2023
                       TABLE 125 ELECTRIC TRUCKS MARKET: PRODUCT FOOTPRINT, 2022
                       TABLE 126 ELECTRIC TRUCKS MARKET: REGIONAL FOOTPRINT, 2022
     15.7 STARTUP/SME EVALUATION QUADRANT 
             15.7.1 PROGRESSIVE COMPANIES
             15.7.2 RESPONSIVE COMPANIES
             15.7.3 DYNAMIC COMPANIES
             15.7.4 STARTING BLOCKS
                       FIGURE 64 ELECTRIC TRUCKS MARKET: STARTUP/SME EVALUATION QUADRANT, 2023
                       TABLE 127 ELECTRIC TRUCKS MARKET: DETAILED LIST OF KEY STARTUPS/SMES
                       TABLE 128 ELECTRIC TRUCKS MARKET: COMPETITIVE BENCHMARKING OF KEY PLAYERS [STARTUPS/SMES]
 
16 COMPANY PROFILES (Page No. - 190)
(Business overview, Products/Solutions/Services offered, Recent Developments, MnM view, Key strengths, Strategic choices, Weaknesses and competitive threats)*    
     16.1 KEY PLAYERS 
             16.1.1 AB VOLVO
                       TABLE 129 AB VOLVO: BUSINESS OVERVIEW
                       FIGURE 65 AB VOLVO: COMPANY SNAPSHOT
                       FIGURE 66 AB VOLVO: SALES, BY REVENUE (2021)
                       TABLE 130 AB VOLVO: PRODUCTS OFFERED
                       TABLE 131 AB VOLVO: NEW PRODUCT DEVELOPMENTS
                       TABLE 132 AB VOLVO: DEALS
                       TABLE 133 AB VOLVO: OTHERS
             16.1.2 BYD
                       TABLE 134 BYD: BUSINESS OVERVIEW
                       FIGURE 67 BYD: COMPANY SNAPSHOT
                       TABLE 135 BYD: PRODUCTS OFFERED
                       TABLE 136 BYD: NEW PRODUCT DEVELOPMENTS
                       TABLE 137 BYD: DEALS
                       TABLE 138 BYD: OTHERS
             16.1.3 RIVIAN
                       TABLE 139 RIVIAN: BUSINESS OVERVIEW
                       TABLE 140 RIVIAN: PRODUCTS OFFERED
                       TABLE 141 RIVIAN: NEW PRODUCT DEVELOPMENTS
                       TABLE 142 RIVIAN: DEALS
                       TABLE 143 RIVIAN: OTHERS
             16.1.4 MERCEDES BENZ GROUP AG
                       TABLE 144 MERCEDES BENZ GROUP AG: BUSINESS OVERVIEW
                       FIGURE 68 MERCEDES BENZ GROUP AG: COMPANY SNAPSHOT
                       TABLE 145 MERCEDES BENZ GROUP AG: PRODUCTS OFFERED
                       TABLE 146 MERCEDES BENZ GROUP AG: NEW PRODUCT DEVELOPMENTS
                       TABLE 147 MERCEDES BENZ GROUP AG: DEALS
                       TABLE 148 MERCEDES BENZ GROUP AG: OTHERS
             16.1.5 FORD MOTOR COMPANY
                       TABLE 149 FORD MOTOR COMPANY: BUSINESS OVERVIEW
                       FIGURE 69 FORD MOTOR COMPANY: COMPANY SNAPSHOT
                       TABLE 150 FORD MOTOR COMPANY: PRODUCTS OFFERED
                       TABLE 151 FORD MOTOR COMPANY: NEW PRODUCT DEVELOPMENTS
                       TABLE 152 FORD MOTOR COMPANY: DEALS
                       TABLE 153 FORD MOTOR COMPANY: OTHERS
             16.1.6 PACCAR INC.
                       TABLE 154 PACCAR INC.: BUSINESS OVERVIEW
                       FIGURE 70 PACCAR INC.: COMPANY SNAPSHOT
                       TABLE 155 PACCAR INC.: PRODUCTS OFFERED
                       TABLE 156 PACCAR INC.: NEW PRODUCT DEVELOPMENTS
                       TABLE 157 PACCAR INC.: DEALS
                       TABLE 158 PACCAR INC.: OTHERS
             16.1.7 SCANIA AB
                       TABLE 159 SCANIA AB: BUSINESS OVERVIEW
                       FIGURE 71 SCANIA AB: COMPANY SNAPSHOT
                       TABLE 160 SCANIA AB: PRODUCTS OFFERED
                       TABLE 161 SCANIA AB: NEW PRODUCT DEVELOPMENTS
                       TABLE 162 SCANIA AB: DEALS
                       TABLE 163 SCANIA AB: OTHERS
             16.1.8 NAVISTAR INC.
                       TABLE 164 NAVISTAR INC.: BUSINESS OVERVIEW
                       FIGURE 72 NAVISTAR INC.: COMPANY SNAPSHOT
                       TABLE 165 NAVISTAR INC.: PRODUCTS OFFERED
                       TABLE 166 NAVISTAR INC.: NEW PRODUCT DEVELOPMENTS
                       TABLE 167 NAVISTAR INC.: DEALS
                       TABLE 168 NAVISTAR INC.: OTHERS
             16.1.9 DONGFENG MOTOR CORPORATION
                       TABLE 169 DONGFENG MOTOR CORPORATION: BUSINESS OVERVIEW
                       FIGURE 73 DONGFENG MOTOR CORPORATION: COMPANY SNAPSHOT
                       TABLE 170 DONGFENG MOTOR CORPORATION: PRODUCTS OFFERED
                       TABLE 171 DONGFENG MOTOR CORPORATION: DEALS
                       TABLE 172 DONGFENG MOTOR CORPORATION: OTHERS
             16.1.10 PROTERRA
                       TABLE 173 PROTERRA: BUSINESS OVERVIEW
                       FIGURE 74 PROTERRA: COMPANY SNAPSHOT
                       TABLE 174 PROTERRA: PRODUCTS OFFERED
                       TABLE 175 PROTERRA: DEALS
                       TABLE 176 PROTERRA: OTHERS
             16.1.11 VDL GROEP
                       TABLE 177 VDL GROEP: BUSINESS OVERVIEW
                       FIGURE 75 VDL GROEP: COMPANY SNAPSHOT
                       TABLE 178 VDL GROEP: PRODUCTS OFFERED
                       TABLE 179 VDL GROEP: DEALS
                       TABLE 180 VDL GROEP: OTHERS
             16.1.12 TESLA, INC.
                       TABLE 181 TESLA, INC.: BUSINESS OVERVIEW
                       FIGURE 76 TESLA, INC.: COMPANY SNAPSHOT
                       TABLE 182 TESLA, INC.: PRODUCTS OFFERED
                       TABLE 183 TESLA, INC.: NEW PRODUCT DEVELOPMENTS
                       TABLE 184 TESLA, INC: DEALS
                       TABLE 185 TESLA, INC: OTHERS
*Details on Business overview, Products/Solutions/Services offered, Recent Developments, MnM view, Key strengths, Strategic choices, Weaknesses and competitive threats might not be captured in case of unlisted companies.
     16.2 OTHER KEY PLAYERS 
             16.2.1 TATA MOTORS LIMITED
             16.2.2 WORKHORSE GROUP
             16.2.3 NIKOLA CORPORATION
             16.2.4 ASHOK LEYLAND
             16.2.5 ISUZU MOTORS LTD.
             16.2.6 IRIZAR GROUP
             16.2.7 IVECO
             16.2.8 TRITON EV
             16.2.9 BOLLINGER MOTORS
             16.2.10 XOS TRUCKS, INC.
             16.2.11 ATLIS MOTOR VEHICLES
             16.2.12 KAIYUN MOTORS
             16.2.13 GEELY AUTOMOBILE HOLDINGS LIMITED
             16.2.14 MAN SE
             16.2.15 ORANGE EV
             16.2.16 TEVVA MOTORS LIMITED
             16.2.17 HINO MOTORS
 
17 RECOMMENDATIONS BY MARKETSANDMARKETS (Page No. - 243)
     17.1 NORTH AMERICA AND ASIA PACIFIC TO BE KEY MARKETS FOR ELECTRIC TRUCKS 
     17.2 ADOPTION OF LIGHT-DUTY ELECTRIC TRUCKS 
     17.3 KEY GROWTH OPPORTUNITIES 
             17.3.1 IMPROVEMENTS IN EV BATTERY TECHNOLOGY
             17.3.2 DEMAND FOR HIGHER RANGE VEHICLES
     17.4 CONCLUSION 
 
18 APPENDIX (Page No. - 245)
     18.1 INSIGHTS FROM INDUSTRY EXPERTS 
     18.2 DISCUSSION GUIDE 
     18.3 KNOWLEDGESTORE: MARKETSANDMARKETS’  SUBSCRIPTION PORTAL 
     18.4 CUSTOMIZATION OPTIONS 
     18.5 RELATED REPORTS 
     18.6 AUTHOR DETAILS 

The study involved four major activities in estimating the current size of the Electric truck market. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with the industry experts across value chains through primary research. The top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation processes were used to estimate the market size of segments and subsegments.

Secondary Research

In the secondary research process, various secondary sources such as company annual reports/presentations, press releases, industry association publications [for example, publications of electric trucks OEMs, Canadian Automobile Association (CAA), country-level automotive associations and trade organizations, and the US Department of Transportation (DOT)], commercial vehicles magazine articles, directories, technical handbooks, World Economic Outlook, trade websites, and technical articles have been used to identify and collect information useful for an extensive commercial study of the global electric truck market.

Primary Research

Extensive primary research was conducted after acquiring an understanding of the Electric truck market scenario through secondary research. Several primary interviews were conducted with market experts from both the demand (electric truck manufacturers, country-level government associations, and trade associations) and supply (OEMs and component manufacturers) sides across major regions, namely, Asia Pacific, Europe and North America, and primary interviews were conducted from the demand and supply sides, respectively. Primary data was collected through questionnaires, emails, and telephonic interviews. In the canvassing of primaries, various departments within organizations, such as sales, operations, and administration, were covered to provide a holistic viewpoint in this report.

After interacting with industry experts, brief sessions with highly experienced independent consultants were conducted to reinforce the findings from primaries. This, along with the in-house subject-matter experts’ opinions, has led to the findings described in the remainder of this report.

Electric Trucks Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

A detailed market estimation approach was followed to estimate and validate the value of the Electric truck market and other dependent submarkets, as mentioned below:

  • Key players in the Electric trucks were identified through secondary research, and their global market shares were determined through primary and secondary research.
  • The research methodology included the study of the annual and quarterly financial reports & regulatory filings of major market players, as well as interviews with industry experts for detailed market insights.
  • All major penetration rates, percentage shares, splits, and breakdowns for the Electric truck market were determined using secondary sources and verified through primary sources.
  • All key macro indicators affecting the revenue growth of the market segments and subsegments were accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the validated and verified quantitative & qualitative data.
  • The gathered market data was consolidated and added with detailed inputs, analyzed, and presented in this report

Data Triangulation

After arriving at the overall market size—using the market size estimation processes as explained above—the market was split into several segments and sub-segments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and sub-segment, data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides.

Report Objectives

  • To segment and forecast the size of the global electric truck market in terms of volume.
    • To segment and forecast the size of the global market, by volume, based on propulsion type [battery electric vehicles (BEV), plug-in hybrid electric vehicles (PHEV), and fuel cell electric vehicles (FCEV)]
    • To segment and forecast the size of the global market, by volume, based on type (light-duty trucks, medium-duty trucks, and heavy-duty trucks)
    • To segment and forecast the size of the global market, by volume, based on range (upto 200 miles and above 200 miles)
    • To segment and forecast the size of the global market, by volume, based on battery type [lithium-iron-phosphate (LFP), lithium-nickel-manganese-cobalt oxide (NMC), and others]
    • To segment and forecast the size of the global market, by volume, based on battery capacity (< 50 kWh, 50−250 kWh, and >250 kWh)
    • To segment and forecast the size of the global market, by volume, based on the level of automation (semi-autonomous trucks and autonomous trucks)
    • To segment and forecast the size of the global market, based on GVWR (upto 10,000 lbs, 10,001 lbs to 26,000 lbs, and above 26,000 lbs)
    • To segment and forecast the size of the global market, by volume, based on end user (last mile delivery, field services, distribution services, long haul transportation, and refuse services)
    • To segment and forecast the market size, by volume, based on region [Asia Pacific, Europe, and North America]
  • To provide detailed information regarding the major factors influencing the market growth (drivers, challenges, restraints, and opportunities)
  • To analyze regional markets for growth trends, prospects, and their contribution to the overall market
  • To analyze opportunities for stakeholders and provide details of the competitive landscape for market leaders
  • To strategically shortlist and profile key players and comprehensively analyze their market shares and core competencies
  • To track and analyze competitive developments such as joint ventures, mergers & acquisitions, new product launches, expansions, and other activities carried out by key industry participants

Available Customizations

With the given market data, MarketsandMarkets offers customizations in line with company-specific needs.

  • Electric Truck market, by range type at country level (For countries covered in the report)
  • Company Information
    • Profiling of Additional Market Players (Up to 5)
Custom Market Research Services

We will customize the research for you, in case the report listed above does not meet with your exact requirements. Our custom research will comprehensively cover the business information you require to help you arrive at strategic and profitable business decisions.

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Report Code
AT 7959
Published ON
Feb, 2023
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