Electric Truck Market to Get Tailwinds from Environmental Concerns| In-depth Analysis, Market Size Research Report Forecast up to 2023

 

Overview:

 

Market Research Future (MRFR), while assessing the electric truck market, revealed factors that can ensure proper growth for the market. These factors are government initiatives to curb carbon emission and protect the environment, companies realizing the impact on the environment due to high fuel emission, the inclusion of better technologies to support the sector, growing competition among players, increasing sources of funding, and others. The global electric truck market has a chance to register a 15% CAGR during the forecast period of 2018 to 2023. However, the industry still requires some substantial progress, which is holding back companies from investing in it. 

 

Segmentation:

 

The global electric truck market, as the discussion of the MRFR analysts reveals, comprises segments like truck type, charge type, and application. This segmentation has inputs that can be used to understand the flow of the market. Analysts have fetched data using scientific methods and parameters to form charts and graphs that can simplify the process of assessment.

 

By truck type, the electric truck market includes segmentation of medium-duty and heavy-duty. 

 

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By charge type, the study on the electric truck market includes segmentation of plug-in hybrid, hybrid, battery, and hydrogen fuel cell. The hybrid segment may find a steady growth for the time being.

 

By application, the assessment of the electric truck market reveals a segmentation that includes municipal, logistics, and others. The logistic segment is expected to make a substantial impact on the market. 

 

Regional Analysis:

 

Europe, China, and North America control almost 70% of the global electric truck market. In North America and Europe, stringent government laws regarding pollution are promoting the market. China is also using the same reason to boost the local market. Companies are also expanding their business plans exploring growth pockets.

 

Competitive Landscape:

 

The electric truck market stands to benefit from the contributions made by companies like Foton Motor Inc. (China), Dongfeng Motor Corporation (China), Isuzu Motors Ltd (Japan), AB Volvo (Sweden), FAW Group Co., Ltd. (China), Daimler AG (China), PACCAR Inc. (US), Navistar, Inc. (US), China National Heavy Duty Truck Group Co., Ltd., (China). and BYD Auto Co., Ltd. (China). The outcome is getting backed by tactical measures implemented by these companies that mostly run on merger, acquisition, innovation, funding for research, branding, tie-ups, and other procedures. MRFR analysts traced these changes to make sure the report reveals trends that are impacting the market. In addition, this will also help in understanding the flows of the market. 

 

Industry News:

 

In California, a landmark ruling declared that half of the commercial truck operating on the road has to be transformed into zero-emissions by 2035. This is something that is favoring startup companies like Xos, who are trying to develop a premise for better growth. This California-based company is a startup and recently, it announced that it fetched USD 20 million from various funding where the funding round was led by a group of investors like Proeza Ventures. The latter is a mobility-focused VC firm. The rounds got delayed due to the COVID-19 crisis.

 

In August 2020, Daimler Trucks North America (DTNA) announced that they are back in the business with the same force that was there before the pandemic attack. The company took around five months to restore its order after it suffered heavy blows due to the COVID-19 pandemic in March. The company believes that electric vehicles will rule the future and that is why it is getting back to normalcy to meet the necessities of the trend.

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Key Questions Addressed by the Report

• What was the historic market size?
• Which segmentation (Product/ Capacity) is driving market?
• What will be the growth rate?
• How are the key players in this market?
• What are the strategies adopted by key players?

TABLE OF CONTENTS

 

1 EXECUTIVE SUMMARY

 

2 SCOPE OF THE REPORT

2.1 MARKET DEFINITION

2.2 SCOPE OF THE STUDY

2.2.1 DEFINITION

2.2.2 RESEARCH OBJECTIVE

2.2.3 ASSUMPTIONS

2.2.4 LIMITATIONS

2.3 RESEARCH PROCESS

2.3.1 PRIMARY RESEARCH

2.3.2 SECONDARY RESEARCH

2.4 MARKET SIZE ESTIMATION

2.5 FORECAST MODEL

 

3 MARKET LANDSCAPE

3.1.1 THREAT OF NEW ENTRANTS

3.1.2 BARGAINING POWER OF BUYERS

3.1.3 THREAT OF SUBSTITUTES

3.1.4 SEGMENT RIVALRY

3.1.5 BARGAINING POWER OF BUYERS

3.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS

 

4 MARKET DYNAMICS

4.1 INTRODUCTION

4.2 MARKET DRIVERS

4.3 MARKET RESTRAINTS

4.4 MARKET OPPORTUNITIES

4.5 MARKET TRENDS

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