Electric Truck Industry Set for a 26.4% CAGR, Reaching $3,861.8 Million by 2030 | AMR

WILMINGTON, NEW CASTLE, DE, UNITED STATES, February 17, 2025 /EINPresswire.com/ -- According to a recent report published by Allied Market Research, titled, “Electric Truck Market Size, Share, Competitive Landscape and Trend Analysis Report, 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.

𝐆𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 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.

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 :

Scania

Daimler AG

Dongfeng Motor Company

Tata Motors

Paccar Inc.

AB Volvo

Workhorse

Man SE

Geely Automobiles Holdings Limited

BYD Company Ltd.

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

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.

𝐀𝐛𝐨𝐮𝐭 𝐮𝐬 :

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

David Correa
Allied Market Research
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