The global electric commercial truck market is anticipated to grow at a significant CAGR of 22.3% during the forecast period. Due to growing environmental concerns, governments across the globe are focusing on enacting emission norms and laws to reduce vehicle emissions. The government norms and laws are targeting to reduce nitrogen oxides (NOx), and carbon dioxide (CO2) in the air. Increasing focus of the government on emission-free vehicles would drive the adoption of electric trucks in various industries.
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Additionally, government pressure on vehicle manufactures to reduce carbon emissions caused by fuel and greenhouse gas emissions, pushing manufacturers to develop electric trucks, which will fuel the electric commercial bus market. For instance, in December 2021, EPA finalized Regulations for Greenhouse Gas Emissions from Passenger Cars and Trucks. The final standards would achieve significant GHG emissions reductions along with reductions in other criteria pollutants. The rule would result in substantial public health and welfare benefits while providing consumers with savings from lower fuel costs.
However, the lack of charging infrastructure for electric trucks and lack of training to customers and dealers to operate them with adequate knowledge regarding their operations acting as an obstacle for the electric truck market.
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Global Electric Commercial Truck Market Segmentation
By Electric Propulsion
- Plug-In Hybrid Electric Truck
- Fuel Cell Electric Truck
- Battery Electric Truck
By Application
- Logistics
- Municipal
- Construction
- Mining
- Others
Regional Analysis
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
Company Profiles
- AB Volvo
- Cityfreighter Inc.
- Einride AB
- E-Trucks Europe
- Hitachi Ltd.
- Hyliion Inc.
- Electric Lion
- Man Truck & Bus SE
- Nikola Corp.
- Rivian Automotive Inc.
- Sandvik AB
- Tata Motors Ltd.
- Tevva Motors Ltd.
- Tesla Inc.
- Via Motors Inc.
- Volkswagen AG
- Volta Trucks
- Workhorse Group
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