Electric Truck Market Expected to Touch $3.8 Billion by 2030, Driven by 26.4% CAGR Growth From 2021 to 2030 | AMR

PORTLAND, OREGAON, UNITED STATES, September 26, 2023 /EINPresswire.com/ -- According to a recent report published by Allied Market Research, titled, “Electric truck Market by Propulsion, Vehicle Type, and Range: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global electric truck market size was valued at $392.3 million in 2020, and is projected to reach $3,861.8 million by 2030, registering a CAGR of 26.4% from 2021 to 2030.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 : https://www.alliedmarketresearch.com/request-sample/6548

Among the analyzed regions, Asia-Pacific is expected to account for the highest revenue in the global market throughout the forecast period, followed by Europe, North America, LAME, and Africa. Moreover, LAMEA (Latin America, Middle East and Africa) is expected to witness the highest growth rate, owing to government regulations related to emission.

An electric truck is an electric vehicle powered by batteries designed to transport cargo, carry specialized payloads, or perform other utilitarian work. Electric trucks reduce noise and pollution, relative to internal-combustion trucks. The operation cost of electric trucks is massively lower compared to gasoline-powered trucks, owing to the high efficiency and low component-counts of electric power trains, no fuel burning while idle, and silent and efficient acceleration. Electric trucks are available in several different types including general trucks, pickup trucks, semi-trailer & tractor trucks, electric tractors, garbage truck, off-road and mining truck. These trucks are most commonly used in logistics, construction, mining and several other applications.

Factors such as increasing government initiatives for promotion of e-mobility, stringent emission norms imposed on fossil-fuel powered commercial vehicles, and reducing cost of electric vehicle batteries drive growth of the electric truck market. However, lack of charging infrastructure and high cost of electric trucks are expected to hinder the growth of the market during the forecast period. Further, rise in demand for electric trucks from the logistics sector and development of self-driving electric truck technology is anticipated to provide remarkable growth opportunities for companies operating in the electric truck market.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 : https://www.alliedmarketresearch.com/electric-truck-market/purchase-options

𝐂𝐎𝐕𝐈𝐃-𝟏𝟗 𝐈𝐦𝐩𝐚𝐜𝐭 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 :

The overall automobile market suffered losses in the initial months of the pandemic when sales of vehicles reduced drastically due to lockdowns. Closing down the factories resulting in the expulsion of the workers and the terror of stagnation due to coronavirus are leading to a significant decline in the sales of the electric trucks in first and second quarter of the 2020. Nevertheless, the demand for electric trucks is expected to gain traction after the lockdown restrictions are relaxed. However, during the second half of 2020, the sales increased and, in most cases, reduced the losses for those past months. The sales of electric vehicles increased in 2020 and 2021 due to the growing trend of vehicle electrification around the world. This sector was thus, less affected by the pandemic.

𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘 :

By propulsion, the fuel cell electric truck segment is expected to register a significant growth, registering a GAGR of 29.9% during the forecast period.

By vehicle type, the light duty electric truck segment dominated the global electric truck market in 2020, in terms of revenue.

By range, the above 300 miles segment is projected to lead the global electric truck market in terms of growth rate, owing to higher CAGR.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 : https://www.alliedmarketresearch.com/purchase-enquiry/6548

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 :

AB Volvo,
BYD Compay Ltd.,
Daimler AG,
Dongfeng Motor Company,
Geely Automobiles Holdings Limited,
Man SE,
Paccar Inc.,
Scania,
Tata Motors
Workhorse

David Correa
Allied Market Research
+1 800-792-5285
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