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The China electric truck market is expected to exhibit a CAGR of 30.60% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
An electric truck is a heavy-duty commercial vehicle with an energy storage system, power converter, and propulsion motor and related controllers powered by rechargeable batteries. It comprises ambulances, containers, city or municipal buses, local delivery vans, utility terrain vehicles (UTVs), and dump, fire, food, garbage, forklift, light-duty cargo, mail, mining, pickup, and tow trucks. It does not emit greenhouse gases and pollute the environment with spilled fuel or toxic residues. In addition, it incurs lower operating and maintenance costs compared to internal combustion engines (ICEs). At present, there is a rise in the demand for electric trucks in China due to rising environmental concerns among the masses.
The growing development of sustainable transportation systems in China to reduce carbon dioxide (CO2) emissions and improve air quality in cities represents one of the key factors driving the market. Moreover, there is an increase in the number of electric vehicle (EV) manufacturing companies in the country. This, along with the rising development of charging infrastructure, is propelling the growth of the market. In addition, governing authorities are focusing on reducing dependence on oil imports. They are also giving tax exemptions on buying electric vehicles (EVs), which is positively influencing the market. Besides this, key market players are extensively investing in research and development (R&D) activities to introduce enhanced electric trucks that are cost-effective. In line with this, they are focusing on innovative marketing strategies to expand their customer base in the country. Furthermore, the increasing employment of electric trucks to transport cargo or passengers in highly congested areas, such as crowded tourist areas, busy shipping ports, transit centers, warehouses, and hospitals, is expected to bolster the growth of the market.
IMARC Group provides an analysis of the key trends in each sub-segment of the China electric truck market, along with forecasts at the country and regional level from 2022-2027. Our report has categorized the market based on vehicle type, propulsion, range and application.
Breakup by Vehicle Type:
Breakup by Propulsion:
Breakup by Range:
Breakup by Application:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
|Base Year of the Analysis||2021|
|Segment Coverage||Vehicle Type, Propulsion, Range, Application, Region|
|Region Covered||Guangdong, Jiangsu, Shandong, Zhejiang, Henan|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2699
Five User License: US$ 3699
Corporate License: US$ 4699
|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
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