As per the latest report by IMARC Group, titled, “Electric Truck Market  : Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, the electric truck market reached a value of US$ 426.8 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 1923.2 Million by 2027, exhibiting a CAGR of 30.15% during 2022-2027.

An electric truck refers to an electric vehicle (EV) that functions on rechargeable batteries for transporting cargo. It is equipped with an electric motor, regenerative braking systems, and automatic start and stop facilities. It promotes a greener environment as it significantly minimizes carbon emissions and vehicular noise. It finds applications across various segments, such as municipal and logistics.Nowadays, its hybrid variants are available worldwide, which are manufactured using lightweight materials and function via fuel-gas and battery-operated engines.

Electric Truck Market Trends:

The burgeoning automotive industry and increasing preferences for hybrid and electric vehicles (H/EVs) are among the major factors creating a positive outlook for the market. Besides this, governing authorities of various countries are undertaking initiatives to minimize the consumption of fossil fuels, which is encouraging the adoption of EVs. This is consequently assisting in reducing greenhouse gas (GHG) and driving the market. Moreover, the improving electronic charging infrastructure and the integration of magnetic resonance for wireless vehicle charging are stimulating the market growth.

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Global Electric Truck 2022-2027 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

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.

The report has segmented the market on the 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 State,Canada)
  • Asia-Pacific:(China, Japan,India, South Korea,Australia, Indonesia,Others)
  • Europe: (Germany,France,United Kingdom,Italy,Spain,Russia,Others
  • Latin America: (Brazi,Mexico,Others)
  • Middle East and Africa

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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry 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.

If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.

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Tags: Electric Truck Market Share, Electric Truck Market Size, Electric Truck Market Trends, Electric Truck Market Growth

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