Electric Trucks Market To Grow By USD 20.32 Billion (2024-2028), Driven By Demand For Fuel-Efficient, Low-Emission Vehicles And AI's Impact On Market Trends - Technavio

• 1.1 Hybrid electric trucks
• 1.2 Battery electric trucks

• 2.1 Light trucks
• 2.2 Medium trucks
• 2.3 Heavy-duty trucks

• 3.1 Asia
• 3.2 Europe
• 3.3 North America
• 3.4 Rest of World (ROW)

1.1
Hybrid electric trucks-
Hybrid electric trucks are gaining traction in the transportation sector due to their long-mile range and cost advantages. These trucks use both IC engines and electric motors, with the electric motor drawing power from a battery charged by an external source or regenerative braking. The segment is witnessing steady growth as manufacturers, such as Daimler, Volvo, and Volkswagen, introduce and expand their hybrid electric truck offerings. Ford Motor and General Motors Co. Are also expected to launch their hybrid pickup truck models by 2024. While battery electric vehicles face limitations due to insufficient charging infrastructure, hybrid electric trucks do not require external charging points for refueling. The dominance of hybrid electric trucks in the global electric trucks market is expected to continue during the forecast period, despite the development and improvement of EV charging infrastructure. Long-haul transport, which consumes a substantial amount of energy in the transportation sector, will significantly benefit from the adoption of electric vehicles, leading to reduced emissions and fuel consumption.

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Electric trucks are revolutionizing the logistics industry with their sustainability and efficiency benefits. These zero-emission vehicles are gaining popularity in advanced transportation sectors, including light-duty, medium-duty, and heavy-duty trucks. The market growth is driven by battery technology advancements, fast-charging infrastructure development, and increasing emission norms. Sustainability-conscious fleet operators are adopting electric trucks to reduce their carbon footprint and improve operational efficiency. Waste management , municipal services, and e-commerce sectors are early adopters of electric trucks due to their environmental-friendliness. Emerging economies are also showing significant interest in electric truck manufacturing. Tevva electric trucks, for instance, have entered the market with their innovative designs and long battery capacity. Incentives from governments and industries are further boosting the adoption of these vehicles. Fleet operators can monitor their electric trucks' performance through online dashboards, ensuring optimal usage and maintenance.

Electric trucks are revolutionizing the logistics industry with their sustainability and efficiency benefits. Battery technology and fast-charging infrastructure are key components of this advanced transportation system. The market for electric trucks spans various vehicle types, including light-duty, medium-duty, and heavy-duty trucks, used in sectors like waste management, municipal services, e-commerce, and manufacturing operations. Sustainability-conscious fleet operators are increasingly adopting zero-emission vehicles to reduce greenhouse gas emissions and meet stricter emission norms. Companies are investing in electric truck manufacturing, with players like Mitsubishi Fuso introducing models such as eCanter and eFuso. Hybrid electric trucks, battery electric trucks, and fuel-cell electric trucks are also gaining popularity. Renewable energy sources like solar and wind power are being integrated into charging infrastructure to ensure a sustainable energy supply. Incentives from governments and industries are further boosting the adoption of electric trucks. Companies like Hyundai Hydrogen Mobility, Freightliner, and Tevva are leading the charge in this sector with innovative electric truck models like the Freightliner eM2 106, eCascadia, and Tevva electric trucks. Emerging economies are also embracing electric trucks as part of their transportation future.

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Propulsion
  • Hybrid Electric Trucks
  • Battery Electric Trucks
• Vehicle Type
  • Light Trucks
  • Medium Trucks
  • Heavy-duty Trucks
• Geography
  • Asia
  • Europe
  • North America
  • Rest Of World (ROW)

7
Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

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SOURCE Technavio

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