Electric Trucks Market is expected to reach US$ 26,542.90 Million by 2028

Posted by Nikhil khadilkar on October 3rd, 2022

According to our latest market study on “Electric Trucks Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Propulsion, Vehicle Type, Range, and Level of Automation,” the market is expected to grow from US$ 4,592.55 million in 2021 to US$ 26,542.90 million by 2028; it is estimated to grow at a CAGR of 29.4% from 2022 to 2028.

The Electric Trucks Market Research Reports offers an extensive collection of reports on different markets covering crucial details. The report studies the competitive environment of the Electric Trucks Market is based on company profiles and their efforts on increasing product value and production.

Electric Trucks Market research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including market environment, competitive landscape, historical data, and present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers, and challenges.

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The electric trucks market is growing due to the rising trend of self-driving trucks. Autonomous driving and electromobility are the two key future trends in the field of transportation. Although the combination of these two is likely to exhibit huge economic and ecological potential, especially in the truck and transport industries, combining these two is a bit challenging. Top original equipment manufacturers (OEM) in the automotive sector—such as Tesla, Volvo, Vera, and Daimler—have developed self-driving electric trucks. Moreover, Embark, Einride, TuSimple, and Ike (Nuro) are among the startups that have begun developing self-driving electric trucks. Waymo started testing its self-driving trucks in January 2020.

TuSimple planned to operate autonomous routes between Pheonix and Tucson in Arizona and some areas in Texas, in December 2021. Einride started testing its driver-less trucks in May 2019. In January 2019, Daimler announced an investment of US$ 570 million for self-driving electric trucks. Self-driving electric truck technology will create market opportunities for electric truck manufacturers in the long run due to advantages such as easy use and value-added features.

AB Volvo; BYD Company Ltd; Daimler AG; FAW Group Co.,Ltd; Navistar, Inc.; PACCAR Inc.;  Proterra Inc.;  Rivian; Scania; and Tesla, Inc. are a few of the key players operating in the electric trucks market. The performances of several other companies have been analyzed to understand the entire market.

Global Electric Trucks Market Research Report 2028 carries in-depth case studies on the various countries which are involved in the Electric Trucks Market. The report is segmented according to usage wherever applicable and the report offers all this information for all major countries and associations. It offers an analysis of the technical barriers, other issues, and cost-effectiveness affecting the market. Important contents analyzed and discussed in the report include market size, operation situation, and current & future development trends of the market, market segments, business development, and consumption tendencies. Moreover, the report includes the list of major companies/competitors and their competition data that helps the user to determine their current position in the market and take corrective measures to maintain or increase their share holds.

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