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*As the coronavirus disease (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Electric Truck Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Market Overview:

The global electric truck market exhibited strong growth during 2015-2020. Electric truck refers to a commercial vehicle operating on rechargeable batteries. It consists of an electric motor to power the vehicle using high-voltage batteries. They are commonly available in light-, medium- and heavy-duty variants with varying speed capacities. Novel electric trucks are also available in hybrid variants, which operate through both fuel-gas and battery-operated engines. In comparison to the fuel-based alternatives, electric trucks are more cost-effective, reliable and have minimal vehicular noise and carbon emissions. These trucks are also manufactured using light-weight materials, have regenerative braking systems and are equipped with automatic start and stop facilities.

Significant growth in the automotive industry, along with the increasing consumer preference for hybrid and electric vehicles (H/EV), is one of the key factors creating a positive outlook for the market. Furthermore, the implementation of favorable government policies promoting e-mobility and minimizing the dependency on fossil fuels, especially in the developing economies, is providing a thrust to the market growth. Governments of various nations are launching schemes to encourage automobile manufacturers to develop electronic trucks that do not require diesel fuel consumption and can assist in minimizing greenhouse gas (GHG) emissions. Various technological advancements, such as improvements in the electronic charging infrastructure and the utilization of magnetic resonance for wireless vehicle charging, are acting as other growth-inducing factors. Moreover, growth in the e-commerce, retail and manufacturing industries, along with extensive research and development (R&D) activities, are some of the other factors anticipated to drive the market further. Looking forward, IMARC Group expects the global electric truck market to grow at a CAGR of around 20% during the next five years.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global electric truck market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, vehicle type, propulsion, range and application.

Breakup by Vehicle Type:

  • Light-duty Truck
  • Medium-duty Truck
  • Heavy-duty Truck
     

Breakup by Propulsion:

  • Battery Electric Truck
  • Hybrid Electric Truck
  • Plug-in Hybrid Electric Truck
  • Fuel Cell Electric Truck
     

Breakup by Range:

  • 0-150 Miles
  • 151-300 Miles
  • Above 300 Miles
     

Breakup by Application:

  • Logistics
  • Municipal
  • Construction
  • Mining
  • Others
     

Breakup by Region:

  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being AB Volvo, BYD Company Ltd., Daimler AG, FAW Group Co. Ltd., Navistar Inc., PACCAR Inc., Rivian Automotive Inc., Scania AB (Volkswagen AG), Tata Motors Limited, Tesla Inc. and Tevva Motors Limited.

Key Questions Answered in This Report:

  • How has the global electric truck market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the global electric truck market?
  • What are the key regional markets?
  • What is the breakup of the market based on the vehicle type?
  • What is the breakup of the market based on the propulsion?
  • What is the breakup of the market based on the range?
  • What is the breakup of the market based on the application?
  • What are the various stages in the value chain of the industry?
  • What are the key driving factors and challenges in the industry?
  • What is the structure of the global electric truck market and who are the key players?
  • What is the degree of competition in the industry?

1    Preface
2    Scope and Methodology

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction

    4.1    Overview
    4.2    Key Industry Trends
5    Global Electric Truck Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6    Market Breakup by Vehicle Type
    6.1    Light-duty Truck
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Medium-duty Truck
        6.2.1 Market Trends
        6.2.2 Market Forecast
    6.3    Heavy-duty Truck
        6.3.1 Market Trends
        6.3.2 Market Forecast
7    Market Breakup by Propulsion
    7.1    Battery Electric Truck
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Hybrid Electric Truck
        7.2.1 Market Trends
        7.2.2 Market Forecast
    7.3    Plug-in Hybrid Electric Truck
        7.3.1 Market Trends
        7.3.2 Market Forecast
    7.4    Fuel Cell Electric Truck
        7.4.1 Market Trends
        7.4.2 Market Forecast
8    Market Breakup by Range
    8.1    0-150 miles
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    151-300 miles
        8.2.1 Market Trends
        8.2.2 Market Forecast
    8.3    Above 300 Miles
        8.3.1 Market Trends
        8.3.2 Market Forecast
9    Market Breakup by Application
    9.1    Logistics
        9.1.1 Market Trends
        9.1.2 Market Forecast
    9.2    Municipal
        9.2.1 Market Trends
        9.2.2 Market Forecast
    9.3    Construction
        9.3.1 Market Trends
        9.3.2 Market Forecast
    9.4    Mining
        9.4.1 Market Trends
        9.4.2 Market Forecast
    9.5    Others
        9.5.1 Market Trends
        9.5.2 Market Forecast
10    Market Breakup by Region
    10.1    North America
        10.1.1 United States
           10.1.1.1 Market Trends
           10.1.1.2 Market Forecast
        10.1.2 Canada
           10.1.2.1 Market Trends
           10.1.2.2 Market Forecast
    10.2    Asia-Pacific
        10.2.1 China
           10.2.1.1 Market Trends
           10.2.1.2 Market Forecast
        10.2.2 Japan
           10.2.2.1 Market Trends
           10.2.2.2 Market Forecast
        10.2.3 India
           10.2.3.1 Market Trends
           10.2.3.2 Market Forecast
        10.2.4 South Korea
           10.2.4.1 Market Trends
           10.2.4.2 Market Forecast
        10.2.5 Australia
           10.2.5.1 Market Trends
           10.2.5.2 Market Forecast
        10.2.6 Indonesia
           10.2.6.1 Market Trends
           10.2.6.2 Market Forecast
        10.2.7 Others
           10.2.7.1 Market Trends
           10.2.7.2 Market Forecast
    10.3    Europe
        10.3.1 Germany
           10.3.1.1 Market Trends
           10.3.1.2 Market Forecast
        10.3.2 France
           10.3.2.1 Market Trends
           10.3.2.2 Market Forecast
        10.3.3 United Kingdom
           10.3.3.1 Market Trends
           10.3.3.2 Market Forecast
        10.3.4 Italy
           10.3.4.1 Market Trends
           10.3.4.2 Market Forecast
        10.3.5 Spain
           10.3.5.1 Market Trends
           10.3.5.2 Market Forecast
        10.3.6 Russia
           10.3.6.1 Market Trends
           10.3.6.2 Market Forecast
        10.3.7 Others
           10.3.7.1 Market Trends
           10.3.7.2 Market Forecast
    10.4    Latin America
        10.4.1 Brazil
           10.4.1.1 Market Trends
           10.4.1.2 Market Forecast
        10.4.2 Mexico
           10.4.2.1 Market Trends
           10.4.2.2 Market Forecast
        10.4.3 Others
           10.4.3.1 Market Trends
           10.4.3.2 Market Forecast
    10.5    Middle East and Africa
        10.5.1 Market Trends
        10.5.2 Market Breakup by Country
        10.5.3 Market Forecast
11    SWOT Analysis
    11.1    Overview
    11.2    Strengths
    11.3    Weaknesses
    11.4    Opportunities
    11.5    Threats
12    Value Chain Analysis
13    Porters Five Forces Analysis

    13.1    Overview
    13.2    Bargaining Power of Buyers
    13.3    Bargaining Power of Suppliers
    13.4    Degree of Competition
    13.5    Threat of New Entrants
    13.6    Threat of Substitutes
14    Price Analysis
15    Competitive Landscape

    15.1    Market Structure
    15.2    Key Players
    15.3    Profiles of Key Players
        15.3.1    AB Volvo
           15.3.1.1 Company Overview
           15.3.1.2 Product Portfolio
           15.3.1.3 Financials
           15.3.1.4 SWOT Analysis
        15.3.2    BYD Company Ltd.
           15.3.2.1 Company Overview
           15.3.2.2 Product Portfolio
           15.3.2.3 Financials
           15.3.2.4 SWOT Analysis
        15.3.3    Daimler AG
           15.3.3.1 Company Overview
           15.3.3.2 Product Portfolio
           15.3.3.3 Financials
           15.3.3.4 SWOT Analysis
        15.3.4    FAW Group Co. Ltd.
           15.3.4.1 Company Overview
           15.3.4.2 Product Portfolio
        15.3.5    Isuzu Motors Ltd
           15.3.5.1 Company Overview
           15.3.5.2 Product Portfolio
           15.3.5.3 Financials
           15.3.5.4 SWOT Analysis
        15.3.6    Navistar Inc.
           15.3.6.1 Company Overview
           15.3.6.2 Product Portfolio
           15.3.6.3 Financials
           15.3.6.4 SWOT Analysis
        15.3.7    PACCAR Inc.
           15.3.7.1 Company Overview
           15.3.7.2 Product Portfolio
           15.3.7.3 Financials
           15.3.7.4 SWOT Analysis
        15.3.8    Rivian Automotive Inc.
           15.3.8.1 Company Overview
           15.3.8.2 Product Portfolio
        15.3.9    Scania AB (Volkswagen AG)
           15.3.9.1 Company Overview
           15.3.9.2 Product Portfolio
           15.3.9.3 SWOT Analysis
        15.3.10    Tata Motors Limited
           15.3.10.1 Company Overview
           15.3.10.2 Product Portfolio
           15.3.10.3 Financials
           15.3.10.4 SWOT Analysis
        15.3.11    Tesla Inc.
           15.3.11.1 Company Overview
           15.3.11.2 Product Portfolio
           15.3.11.3 Financials
           15.3.11.4 SWOT Analysis
        15.3.12    Tevva Motors Limited
           15.3.12.1 Company Overview
           15.3.12.2 Product Portfolio

List of Figures

Figure 1: Global: Electric Truck Market: Major Drivers and Challenges
Figure 2: Global: Electric Truck Market: Sales Value (in Billion US$), 2015-2020
Figure 3: Global: Electric Truck Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 4: Global: Electric Truck Market: Breakup by Vehicle Type (in %), 2020
Figure 5: Global: Electric Truck Market: Breakup by Propulsion (in %), 2020
Figure 6: Global: Electric Truck Market: Breakup by Range (in %), 2020
Figure 7: Global: Electric Truck Market: Breakup by Application (in %), 2020
Figure 8: Global: Electric Truck Market: Breakup by Region (in %), 2020
Figure 9: Global: Electric Truck (Light-duty Truck) Market: Sales Value (in Million US$), 2015 & 2020
Figure 10: Global: Electric Truck (Light-duty Truck) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 11: Global: Electric Truck (Medium-duty Truck) Market: Sales Value (in Million US$), 2015 & 2020
Figure 12: Global: Electric Truck (Medium-duty Truck) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 13: Global: Electric Truck (Heavy-duty Truck) Market: Sales Value (in Million US$), 2015 & 2020
Figure 14: Global: Electric Truck (Heavy-duty Truck) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 15: Global: Electric Truck (Battery Electric Truck) Market: Sales Value (in Million US$), 2015 & 2020
Figure 16: Global: Electric Truck (Battery Electric Truck) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 17: Global: Electric Truck (Hybrid Electric Truck) Market: Sales Value (in Million US$), 2015 & 2020
Figure 18: Global: Electric Truck (Hybrid Electric Truck) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 19: Global: Electric Truck (Plug-in Hybrid Electric Truck) Market: Sales Value (in Million US$), 2015 & 2020
Figure 20: Global: Electric Truck (Plug-in Hybrid Electric Truck) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 21: Global: Electric Truck (Fuel Cell Electric Truck) Market: Sales Value (in Million US$), 2015 & 2020
Figure 22: Global: Electric Truck (Fuel Cell Electric Truck) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 23: Global: Electric Truck (0-150 miles) Market: Sales Value (in Million US$), 2015 & 2020
Figure 24: Global: Electric Truck (0-150 miles) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 25: Global: Electric Truck (151-300 miles) Market: Sales Value (in Million US$), 2015 & 2020
Figure 26: Global: Electric Truck (151-300 miles) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 27: Global: Electric Truck (Above 300 Miles) Market: Sales Value (in Million US$), 2015 & 2020
Figure 28: Global: Electric Truck (Above 300 Miles) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 29: Global: Electric Truck (Logistics) Market: Sales Value (in Million US$), 2015 & 2020
Figure 30: Global: Electric Truck (Logistics) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 31: Global: Electric Truck (Municipal) Market: Sales Value (in Million US$), 2015 & 2020
Figure 32: Global: Electric Truck (Municipal) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 33: Global: Electric Truck (Construction) Market: Sales Value (in Million US$), 2015 & 2020
Figure 34: Global: Electric Truck (Construction) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 35: Global: Electric Truck (Mining) Market: Sales Value (in Million US$), 2015 & 2020
Figure 36: Global: Electric Truck (Mining) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 37: Global: Electric Truck (Other Applications) Market: Sales Value (in Million US$), 2015 & 2020
Figure 38: Global: Electric Truck (Other Applications) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 39: North America: Electric Truck Market: Sales Value (in Million US$), 2015 & 2020
Figure 40: North America: Electric Truck Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 41: United States: Electric Truck Market: Sales Value (in Million US$), 2015 & 2020
Figure 42: United States: Electric Truck Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 43: Canada: Electric Truck Market: Sales Value (in Million US$), 2015 & 2020
Figure 44: Canada: Electric Truck Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 45: Asia-Pacific: Electric Truck Market: Sales Value (in Million US$), 2015 & 2020
Figure 46: Asia-Pacific: Electric Truck Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 47: China: Electric Truck Market: Sales Value (in Million US$), 2015 & 2020
Figure 48: China: Electric Truck Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 49: Japan: Electric Truck Market: Sales Value (in Million US$), 2015 & 2020
Figure 50: Japan: Electric Truck Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 51: India: Electric Truck Market: Sales Value (in Million US$), 2015 & 2020
Figure 52: India: Electric Truck Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 53: South Korea: Electric Truck Market: Sales Value (in Million US$), 2015 & 2020
Figure 54: South Korea: Electric Truck Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 55: Australia: Electric Truck Market: Sales Value (in Million US$), 2015 & 2020
Figure 56: Australia: Electric Truck Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 57: Indonesia: Electric Truck Market: Sales Value (in Million US$), 2015 & 2020
Figure 58: Indonesia: Electric Truck Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 59: Others: Electric Truck Market: Sales Value (in Million US$), 2015 & 2020
Figure 60: Others: Electric Truck Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 61: Europe: Electric Truck Market: Sales Value (in Million US$), 2015 & 2020
Figure 62: Europe: Electric Truck Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 63: Germany: Electric Truck Market: Sales Value (in Million US$), 2015 & 2020
Figure 64: Germany: Electric Truck Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 65: France: Electric Truck Market: Sales Value (in Million US$), 2015 & 2020
Figure 66: France: Electric Truck Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 67: United Kingdom: Electric Truck Market: Sales Value (in Million US$), 2015 & 2020
Figure 68: United Kingdom: Electric Truck Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 69: Italy: Electric Truck Market: Sales Value (in Million US$), 2015 & 2020
Figure 70: Italy: Electric Truck Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 71: Spain: Electric Truck Market: Sales Value (in Million US$), 2015 & 2020
Figure 72: Spain: Electric Truck Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 73: Russia: Electric Truck Market: Sales Value (in Million US$), 2015 & 2020
Figure 74: Russia: Electric Truck Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 75: Others: Electric Truck Market: Sales Value (in Million US$), 2015 & 2020
Figure 76: Others: Electric Truck Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 77: Latin America: Electric Truck Market: Sales Value (in Million US$), 2015 & 2020
Figure 78: Latin America: Electric Truck Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 79: Brazil: Electric Truck Market: Sales Value (in Million US$), 2015 & 2020
Figure 80: Brazil: Electric Truck Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 81: Mexico: Electric Truck Market: Sales Value (in Million US$), 2015 & 2020
Figure 82: Mexico: Electric Truck Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 83: Others: Electric Truck Market: Sales Value (in Million US$), 2015 & 2020
Figure 84: Others: Electric Truck Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 85: Middle East and Africa: Electric Truck Market: Sales Value (in Million US$), 2015 & 2020
Figure 86: Middle East and Africa: Electric Truck Market: Breakup by Country (in %), 2020
Figure 87: Middle East and Africa: Electric Truck Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 88: Global: Electric Truck Industry: SWOT Analysis
Figure 89: Global: Electric Truck Industry: Value Chain Analysis
Figure 90: Global: Electric Truck Industry: Porter's Five Forces Analysis

List of Tables

Table 1: Global: Electric Truck Market: Key Industry Highlights, 2020 and 2026
Table 2: Global: Electric Truck Market Forecast: Breakup by Vehicle Type (in Million US$), 2021-2026
Table 3: Global: Electric Truck Market Forecast: Breakup by Propulsion (in Million US$), 2021-2026
Table 4: Global: Electric Truck Market Forecast: Breakup by Range (in Million US$), 2021-2026
Table 5: Global: Electric Truck Market Forecast: Breakup by Application (in Million US$), 2021-2026
Table 6: Global: Electric Truck Market Forecast: Breakup by Region (in Million US$), 2021-2026
Table 7: Global: Electric Truck Market: Competitive Structure
Table 8: Global: Electric Truck Market: Key Players

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