Global Electric Truck Market 2018 To 2023 Research Report

Posted by Abhijeet Bendre on September 11th, 2018

The “Electric Truck Market Research Report – Forecast to 2023” is latest report published by MarketResearchFuture”, provides Electric Truck Market Analysis By Truck Type (Medium Duty and Heavy Duty), Material (Battery, Plug-In Hybrid, Hybrid, and Hydrogen Fuel Cell), Application (Logistic, Municipal, Others) and Region. The global Electric Truck market is expected to witness 15% CAGR during the period, 2018 to 2023.

The prominent players in the electric truck market include Dongfeng Motor Corporation (China), Foton Motor Inc. (China), Daimler AG (China), AB Volvo (Sweden), FAW Group Co., Ltd. (China), and China National Heavy Duty Truck Group Co., Ltd., (China). PACCAR Inc. (US), Navistar, Inc. (US), Isuzu Motors Ltd (Japan), and BYD Auto Co., Ltd.  (China) are among others.

The electric truck is a new generation electric powered truck, with a massive growth in sales predicted for the period 2018 -2023. Electric trucks are widely preferred for logistics, and municipal applications. Globally growing strict government policies regarding emission from commercial vehicles will work in favor of electric trucks and drive the growth of the market. Moreover, the continuous increase in fuel prices will drive the consumers towards cheaper alternatives to traditional trucks such as electric trucks, which are also less polluting. Increase in per capita disposable income in developing and developed countries will further increase investment in smart mobility such as electric trucks for commercial sector.

Continuous increase in the development for charging infrastructure and continuous decrease in the price of battery packs will create opportunities for manufacturers in the global market for electric trucks. However, high cost associated with R&D will increase the cost of the vehicle, which is expected to hamper the growth for the global electric trucks market. Creating awareness among consumers about the product is a major challenge for the manufacturers in the global electric truck market.

Global electric truck market is segmented based on truck type, charge type, application, and region. Based on truck type, the market has been segmented into medium duty and heavy duty. Based on charge type, the market has been segmented into battery, plug-in hybrid, hybrid, and hydrogen fuel cell. Based on application, the market has been segmented into logistic, municipal, and others.

In terms of region, the global market for the electric truck is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. The electric truck market is flourishing in many regions such as North America and Europe as well as  in countries such as China. Additionally, there is an availability of incentives and subsidies that would provide through government schemes which further enhance the global sales of the electric trucks in Asia-Pacific. In Asia-Pacific, China is leading in terms of manufacturing all types of fully or hybrid electric technologies such as electric trucks owing to the presence of major manufacturers of electric trucks. In Europe, it is predicted that the region will switch to full or hybrid electric trucks  to achieve the target for EU’s 20-20-20 policy. In North America, it is expected that the full and hybrid type electric vehicle sales would be lower  than those with natural gas powertrains as in the US and Canada the infrastructure for battery charging is still in the developing stage.

Table of Contents:

1 Introduction

1.1 Definition

1.2 Scope Of Study

1.3 Research Objective

1.4 Assumptions & Limitations

1.5 Market Structure:

2 Research Propulsionology

2.1 Research Process

2.2 Primary Research

2.3 Secondary Research

3 Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

3.5 Macroeconomic Indicators

4 Market Factor Analysis

4.1 Porter's Five Forces Model

Continued...

List of Figures:

FIGURE 1 RESEARCH PROCESS OF MRFR

FIGURE 2 TOP DOWN & BOTTOM UP APPROACH

FIGURE 3 Market Dynamics

FIGURE 4 Impact Analysis: Market Drivers

FIGURE 5 Impact Analysis: Market Restraints

FIGURE 6 Porter's Five Forces Analysis

FIGURE 7 Value Chain Analysis

Continued...

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