1. Market Research
  2. > Automotive
  3. > Motor Vehicle
  4. > Commercial Vehicle Market Trends
Electric Trucks Market by Propulsion, Type, Range, Battery Type, Battery Capacity, Level of Automation, End User, Payload Capacity & Region - Global Forecast to 2030

Electric Trucks Market by Propulsion, Type, Range, Battery Type, Battery Capacity, Level of Automation, End User, Payload Capacity & Region - Global Forecast to 2030

  • August 2021
  • 223 pages
  • ID: 6130513
  • Format: PDF
  • MarketsandMarkets


Table of Contents

Search Inside

The electric trucks market is estimated to be 69,597 units in 2021 and is projected to grow at a CAGR of 39.7% during the forecast period, to reach 1,413,694 units by 2030. Due to the rising emissions levels and increasing prices of petroleum, along with petroleum’s limited availability, there has been a growing demand for Zero emission alternative fuel vehicles. This has been a major factor for increasing demand of EV’s in the market since the past few years. The governments of several countries are taking initiatives to promote clean sources of energy by instituting stringent emission norms and providing subsidies, tax benefits for early adoption of EV’s and other low emission vehicles to help meet these stringent emission regulations. Electric trucks have also been growing in demand past few years due to these reasons. Top OEM’s like BYD, Daimler AG, AB Volvo, PACCAR Inc, Scania AB, and other players like Renault, Tata Motors, Tesla Inc, Rivian and others have been working for development of electric trucks.
A Major issue with electric trucks has been lower range due to limited battery capacity.With improving technology, as better EV batteries are being produced, the range of these EV trucks have been improving significantly.

The reducing Battery cost will also reduce the overall cost of electric trucks, thereby improving the profitability by use of these trucks for commercial operations.This will further create demand for EV trucks in the future.

Development of appropriate charging infrastructure has further improved the viability of electric trucks in the market for daily use across various sectors.The development of self-driving truck technology will also improve the demand for electric trucks once technology is matured.

Most countries have come up with policy’s for shifting to electric vehicles such as trucks for commercial operations. For Instance, since 2019, US has made regulations to shift to using electric trucks for interstate logistics across some states in the country. Germany and China have also promoted the use of electric trucks and have become some of the top markets for this segment. Germany has setup electric lines on their highways for use of electric trucks without the need for destination charging. China has encouraged OEM’s in the country to produce electric trucks for its domestic use. The country had more than 20 times the sales of electric trucks domestically than US and Europe combined till the first half of 2020.
The major challenge for the growth of the electric truck market is its high cost.However, increasing R&D in the field of EV technology is leading to decreasing cost of EV Batteries, gradually reducing the cost difference.

Another challenge to the growth of the electric truck market is lack of standardization of EV charging infrastructure and slow setup of EV charging stations in many countries.The limited range of electric trucks also limit their use in various countries.

In India for instance, the limited number of electric trucks operate by battery switching due to less availability of EV fast charging stations. Lesser driving range and inadequate charging infrastructure are the key factors resulting in limited popularity of electric trucks in developing countries.

The electric truck market in Europe is segmented into France, Germany, Netherlands, Norway, Sweden, and United Kingdom.Europe has stringent emission regulation standards.

The governments of European region are providing huge incentives to promote electric vehicles.As a result, the demand for electric vehicles has increased tremendously in the region.

The region is home to electric truck manufacturers such as Volvo, Daimler and others.Europe has set a very ambitious goal of reducing 80% CO2 emission by 2050 and has created a roadmap for the same.

The governments of various countries in Europe are subsidizing electric infrastructure and the focus will continue to be on electric vehicles in the long run. Volvo has announced plans to launch a complete range of heavy duty electric trucks in the region starting 2021 and through the upcoming years. It is currently running tests for Volvo FMX, Volvo FX, Volvo FM which would be used for regional transport and urban construction. Sales will start by the end of 2021 and production in large volumes will start by the first half of 2022. These trucks will come with a battery configuration of around 186 miles or 300 km. The company is targeting 50% electric sales in the region by 2030. Some top electric truck startups in the region include Einride (Sweden), Volta Trucks (Sweden), Tevva (UK), StreetScooter (Germany) and E-Trucks Europe (Netherlands). These companies have also been developing electric truck technology and some of them have already brought electric trucks for the market.
The electric truck market is dominated by players such as BYD(China), Daimler AG (Germany), AB Volvo (Sweden), PACCAR(U.S.), Scania AB(Sweden) and others. Key strategies adopted by these companies to sustain their positions are new launches, expansions, collaborations, and joint ventures. These strategies have been analyzed to understand the positions of these companies in the market. For instance, in March 2021, The Volvo Group has acquired 50 percent of the partnership interests in the existing Daimler Truck Fuel Cell GmbH & Co. The ambition is to make the new joint venture a leading global manufacturer of fuel-cells, and thus help the world take a major step towards climate-neutral and sustainable transportation by 2050. Also, in November 2020, Scania AB acquired Nantong Gaikai and the acquisition allowed it to obtain truck manufacturing license in China. Nantong Gaikai was under state owned Jiangsu Gaikai Investment Development Group.

Light duty trucks to ensure dominant position of the segment
The electric truck market by vehicle type comprises majorly of light-duty trucks, medium-duty and heavy-duty trucks.This is because of their growing popularity for electric pickups around the world as zero emission vehicles while for medium-duty and heavy-duty vehicles, the price of long-range electric trucks increases drastically which makes it less economical for many regions.

As prices of EV batteries decreases and range of vehicles keep improving, the market for electric trucks will also increase at a faster rate in the coming years. The demand for light-duty electric trucks would grow with increase in adoption of light duty-trucks in e-commerce and distribution services.

NMC Battery segment expected to lead to market growth
The electric truck market is dominated by the NMC battery as it is the most efficient.Most market-leading Chinese OEMs use these batteries in electric trucks in its fleets.

These batteries have a comparatively higher energy density than LFP batteries.Also, the cost of NMC batteries is declining and level with the cost of LFP batteries, thus, further boosting the NMC battery market.

Although, the demand for LFP is also on the rise in the forecasted period as the life of LFP batteries is longer than the NMC batteries. Adoption of NMC batteries is expected to rise in the near future in European and American countries.

The study contains insights from various industry experts, ranging from component suppliers to tier 1 companies and OEMs. The break-up of the primaries is as follows:
• By Company Type: Tier 1 - 40%, Tier 2 – 42%, Others - 18%
• By Designation: C level - 57%, D level - 29%, Others - 14%
• By Region: North America - 39%, Europe - 33%, Asia Pacific- 28%
The electric truck market is dominated by players such as BYD(China), Daimler AG (Germany), AB Volvo (Sweden), PACCAR(U.S.), Scania AB(Sweden) and others.

Research Coverage
The report segments the electric trucks market and forecasts its size, by volume, on the basis of propulsion type (BEV, PHEV, FCEV) vehicle type (light Duty trucks, Medium Duty trucks, heavy duty trucks), battery type (Lithium-Nickel-Manganese-Cobalt Oxide, Lithium-Iron-Phosphate, others), end user (Last mile Delivery, long haul transportation, distribution services, refuse services, field services), by range (upto 200 miles, above 200 miles), payload capacity (upto 10,000 lbs, 10,001-26,000 lbs, Above 26,000 lbs), level of automation (semi-autonomous and automation), battery capacity (less than 50kWh, 50-250 kwh, above 250 kwh) & Region. It also covers the competitive landscape and company profiles of the major players in the electric truck market ecosystem.

Key Benefits of Buying the Report:
• The report will help market leaders/new entrants in this market with information on the closest approximations of revenue and volume for electric truck market and its sub segments.
• This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.
• The report will also help the market players understand the impact of COVID-19 on electric trucks market.
• The report also helps stakeholders understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

ReportLinker may already be registered as a supplier with your company. If you want to Order by PO, check with us first and we'll let you know if we are a registered supplier and what the vendor number is. Otherwise, we'll provide you with the necessary information to register ReportLinker as a vendor.

Ahmad helps you find the right report:

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at [email protected] to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - [email protected] or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.


Reportlinker.com © Copyright 2021. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on