Electric Trucks Market Analysis

Type (Light-Duty Trucks, Medium-Duty Trucks, Heavy-Duty Trucks)

Heavy-duty trucks segment is projected to dominate around 45% electric truck market share by the end of 2037. The segment growth can be attributed to the number of variables coming together to drive the adoption of these vehicles, which is gaining substantial traction. The market size is growing because interest in electric heavy-duty vehicles has grown as a result of environmental concerns and the demand for sustainable transportation options.

These cars provide practical substitutes for conventional diesel-powered trucks, cutting down on air pollution and greenhouse gas emissions. Also, they also have zero tailpipe emissions. This environmental benefit is consistent with fleet operators' commitment to more environmentally friendly operations and the growing corporate focus on sustainability. Diesel or electric, have 66–75% lower carbon emissions than other vehicles.

Propulsion Type (BEV, PHEV, FCEV)

By 2037, FCEV segment is likely to hold more than 35% electric truck market share. The market is growing faster due to the growing demand for zero-emission transportation options. These vehicles are a good substitute for traditional diesel trucks because they don't emit any harmful emissions while in use.

This quality is in line with sustainability objectives and environmental laws that are established by governments and corporations globally. Fuel cell electric trucks are an appealing alternative for enterprises looking for cleaner and greener transportation solutions because of their lower greenhouse gas emissions and air pollution.

Application (Logistics & Delivery, Construction, Waste Management)

In electric truck market, logistics & delivery segment is expected to account for more than 35% revenue share by the end of 2037. The emergence of last-mile deliveries and e-commerce has increased demand for automobiles that can maneuver through metropolitan areas with ease. Because they are quiet and agile, electric trucks are ideal for these kinds of jobs. They can deliver goods in noise-sensitive zones and navigate crowded metropolitan streets without creating any disturbances. The necessity for these vehicles in logistics and delivery is anticipated to increase as e-commerce keeps growing.

Our in-depth analysis of the market includes the following segments: