Electric Trucks Market is set to grow by 562.44 thousand units from 2022 to 2027, Witnessing the Emergence of AB Volvo and BOLLINGER MOTORS LLC as Key Market Contributors – Technavio – Yahoo Finance

NEW YORK, Dec. 15, 2022 /PRNewswire/ — The electric trucks market size is forecast to increase by USD 562.44 th units from 2022 to 2027, at a CAGR of 28.82%, according to the recent market study by Technavio. The growth of the market will be driven by the growing demand for fuel-efficient and low-emission vehicles, stringent rules and regulations, and electric trucks that create long-term value for customers.

Technavio categorizes the global electric trucks market as a part of the global automotive market under the global automobiles and components industry. The parent market, the global automotive market, covers companies engaged in the production of vehicles such as passenger cars, commercial vehicles, and all-terrain vehicles. It does not include manufacturers of motorcycles, scooters, e-bikes, trikes, and three-wheelers.

Charts & data tables about market and segment sizes for a historic period of five (2017-
2021) years have been covered in this report. Download the Sample Report

Technavio has extensively analyzed 15 major vendors, including AB Volvo, BOLLINGER MOTORS LLC, BYD Electronic Co. Ltd., Daimler AG, E Force One AG, General Motors Co, Hino Motors Ltd., Isuzu Motors Ltd., Lordstown Motors Corp., Navistar International Corp., PACCAR Inc., Proterra Inc., Rivian Automotive LLC, Scania AB, Sinotruk Hong Kong Ltd., Tesla Inc., VDL Groep BV, Renault SAS, Nissan Motor Co. Ltd., and Ford Motor Co.

Key Benefits for Industry Players & Stakeholders – 

• The report offers information on the criticality of vendor inputs, including R&D, CAPEX, and technology.

• It also provides detailed analyses of the market’s competitive landscape and vendors’ product offerings.

• The report also provides a qualitative and quantitative analysis of vendors to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

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Customer Landscape – Analysis of Price Sensitivity, Adoption Lifecycle, Customer Purchase Basket, Adoption Rates, and Purchase Criteria by Technavio

• One of the core components of the customer landscape is price sensitivity, an analysis of which will help companies refine marketing strategies to gain a competitive advantage.

• Another key aspect is price sensitivity drivers (purchases are undifferentiated, the purchase is a key cost to buyers, and quality is not important), which range between LOW and HIGH.

• Furthermore, market adoption rates for all regions have been covered.

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The market is segmented by propulsion (hybrid electric trucks and battery electric trucks), and vehicle type (light trucks and heavy-duty trucks).

Segmentation by propulsion (hybrid electric trucks/battery electric trucks)

• Hybrid electric trucks and battery electric trucks: The market share growth by both hybrid electric trucks and battery electric trucks will be significant during the forecast period. In a hybrid electric truck, the electric motor is propelled by a battery that is either charged externally or by regenerative braking. Due to their long driving range and low operating and maintenance costs, hybrid trucks are experiencing continuous growth. Truck manufacturers are being compelled to create hybrid electric trucks by rising environmental consciousness and legal standards to reduce emissions. All these factors are responsible for market growth during the forecast period.

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Related Reports:

Hybrid Electric Vehicle Market by Propulsion, Vehicle Type, and Geography – Forecast and Analysis 2023-2027: The hybrid electric vehicle market is estimated to grow at a CAGR of 30.88% between 2022 and 2027. The size of the market is forecast to increase by 17098.51 thousand units. This report extensively covers market segmentation by propulsion (full hevs, mild hevs, and phevs), vehicle type (passenger cars and commercial vehicles), and geography (APAC, Europe, North America, South America, and Middle East and Africa).

Electric Car Market by Type, Vehicle Type, and Geography – Forecast and Analysis 2023-2027: The electric car market is estimated to grow at a CAGR of 28.69% between 2022 and 2027. The size of the market is forecast to increase by 22,644.59 thousand units. This report extensively covers market segmentation by type (sedan, hatchback, and others), vehicle type (BEV and PHEV),  and geography (APAC, North America, Europe, South America, and Middle East and Africa).

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What are the key data covered in this Electric Trucks Market report?

• CAGR of the market during the forecast period

• Detailed information on factors that will drive the growth of the Electric Trucks Market between 2023 and 2027

• Precise estimation of the size of the Electric Trucks Market size and its contribution to the market in focus on the parent market

• Accurate predictions about upcoming trends and changes in consumer behavior

• Growth of the Electric Trucks Market industry across APAC, North America, Europe, South America, and Middle East and Africa

• A thorough analysis of the market’s competitive landscape and detailed information about vendors

• Comprehensive analysis of factors that will challenge the growth of Electric Trucks Market vendors

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Table of Contents

1 Executive Summary

• 1.1 Market overview

2 Market Landscape

• 2.1 Market ecosystem

3 Market Sizing

• 3.1 Market definition

• 3.3 Market size 2022

4 Historic Market Size

5 Five Forces Analysis

• 5.1 Five forces summary

• 5.6 Threat of rivalry

• 5.7 Market condition

6 Market Segmentation by Propulsion

• 6.1 Market segments

7 Market Segmentation by Vehicle Type

• 7.1 Market segments

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape

• 11.4 Industry risks

12 Vendor Analysis

• 12.1 Vendors covered

• 12.3 AB Volvo

• 12.6 Daimler AG

• 12.7 General Motors Co

• 12.8 Hino Motors Ltd.

• 12.9 Isuzu Motors Ltd.

• 12.12 Proterra Inc.

• 12.13 Renault SAS

• 12.15 Scania AB

• 12.17 Tesla Inc.

13 Appendix

• 13.1 Scope of the report

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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