Electric Truck Industry 2019 Global Market Size, Share, Key Players, Growth, Opportunities, Trends, Statistics, Competitive Analysis, And Regional Forecast To 2023
Jul 9, 2019
Electric Truck Market to Rise At 15% CAGR and reach remarkable value by 2023, according Global Electric Truck Market Analysis Report published by Market Research Future. Electric Truck Market by Truck Type, Material , Application, Region with Forecast to 2023.
Pune, India - July 9, 2019 /MarketersMedia/ —
Electric Truck Market to Rise At 15% CAGR and reach remarkable value by 2023, according Global Electric Truck Market Analysis Report published by Market Research Future. The electric truck is a commercial vehicle that is powered through electricity. Global Electric Truck Industry Report analyzes Market for Electric Truck by Truck Type (Medium Duty and Heavy Duty), Material (Battery, Plug-In Hybrid, Hybrid, and Hydrogen Fuel Cell), Application (Logistic, Municipal, Others), Region with Forecast to 2023.
Major Electric Truck Companies covered in the market report include Foton Motor Inc. (China), Dongfeng Motor Corporation (China), FAW Group Co., Ltd. (China), Daimler AG (China), AB Volvo (Sweden), PACCAR Inc. (US), China National Heavy Duty Truck Group Co., Ltd., (China), Navistar, Inc. (US), Isuzu Motors Ltd (Japan), and BYD Auto Co., Ltd. (China), among others.
Get Free Sample “Electric Truck Market Research - Global Forecast to 2023” report at: https://www.marketresearchfuture.com/sample_request/6261
Global Market Highlights:
Electric truck, despite being cost-effective and less pollutant has not gotten to taste the success it should have by now. Similarly, although, the global electric truck market is running successfully, it is yet to get the desired impetus. However, in the years to come, the electric truck market is expected to witness a considerable rise in its size.
According to an eminent research firm, Market Research Future (MRFR), the global electric truck market would grow at a steady pace by 2023, registering over 15 % CAGR throughout the anticipated period (2018 – 2023). This growth will be a surpassing its previous growth records in terms of value; however, it will be still considered as a slow growth despite the expected rise of sales of EVs.
Government support for the purchase of smart automobiles and availing the charging infrastructure, alongside, the augmenting demand for smart transport fosters the growth of the market. Moreover, the growing concern for environmental pollution due to the internal combustion engine will play a vital role in the development of the market size for global electric trucks market.
On the other hand, high prices of electric trucks are impeding the growth of the market. Battery makers operating in the global electric trucks market strive to offer expansive IT expertise that can deal not only with the rechargeable batteries, but also with solar farming, energy storage, and LED technologies.
Electric Truck Industry Segments:
For a better understanding of the report, the market is segmented into four key dynamics:
By Truck Type: Medium Duty and Heavy Duty.
By Material: Battery, Plug-In Hybrid, Hybrid, and Hydrogen Fuel Cell, among others.
By Application: Logistic and Municipal, among others.
By Regions: Asia Pacific, North America, Europe, and Rest-of-the-World.
Regional Analysis:
North America dominates the global electric truck market due to growing demand for trucks with low operating cost and the development of sustainable, electric truck in the region. Continuously rising fuel prices and increasing transport activities would further drive the growth of the electric trucks market. Simultaneously, steadily dropping prices of batteries used in the electric trucks are drawing consumer’s attraction towards electric mobility, would further increase the size of the electric trucks market.
The electric truck market in the European region is expected to grow at a substantial CAGR from 2018 to 2023. Strict government regulations to control Co2 emissions alongside favourable incentives policies to buy electric trucks would propel the growth of the market in the region.
Moreover, the lesser operating cost associated with electric mobility that attracts users and increased efforts from manufacturers such as discounts program on additional features or packages would boost the sales of the electric trucks during the forecast period. Incentives policies to encourage the sales of electric trucks alongside, the stringent government policies to control vehicle emissions in various countries such as China, Japan, the US, and Germany are the major driving forces behind the market growth.
The Asia Pacific electric truck market is growing at a considerably slower rate. In China, there is a strong push for New Energy Vehicles (NEVs) to cut down on pollution in urban areas. In another effort to earn international attention, some Chinese electric truck companies have even begun to export trucks in developed regions, especially to the US.
In India, High GST rate (Sales Tax) on batteries will hit the sales of e-truck, severely. As per the new indirect tax, electric truck sold with batteries are charged 12% GST, while, batteries sold without truck are taxed 28%. High tax on batteries used in the electric truck under the services tax regime might prove to be a major obstacle to the government’s drive to push e-truck. The government needs to invest in electric truck technology to help bring down battery costs and encourage the adoption of green mobility solutions.
Global Electric Truck Market Competitive Analysis:
Well established, the electric truck market appears to be fragmented due to the presence of several large and small players. These players incorporate strategic initiatives such as acquisition, collaboration, partnership, product launch, and expansion, to gain a competitive advantage in this market.
TABLE OF CONTENTS:
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Definition
2.2.2 Research Objective
2.2.3 Assumptions
2.2.4 Limitations
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Threat Of Substitutes
3.1.4 Segment Rivalry
3.1.5 Bargaining Power Of Buyers
3.2 Value Chain/Supply Chain Analysis
4 Market Dynamics
4.1 Introduction
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
5 Global Electric Truck Market, By Truck Type
Continued…
LIST OF TABLES:
Table 1 Global Electric Truck Market: By Region, 2018-2023
Table 2 North America Electric Truck Market: By Country, 2018-2023
Table 3 Europe Electric Truck Market: By Country, 2018-2023
Table 4 Asia-Pacific Electric Truck Market: By Country, 2018-2023
Table 5 RoW Electric Truck Market: By Country, 2018-2023
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…
Browse More Information On This Report at: https://www.marketresearchfuture.com/reports/electric-truck-market-6261
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
Contact Info:
Name: abhishek sawant
Email: Send Email
Organization: Market Research Future
Address: Market Research Future Office No. 528,, Amanora Chambers Magarpatta Road, Pune, India.,
Phone: +1 646 845 9312
Website: https://www.marketresearchfuture.com/reports/electric-truck-market-6261
Source: MarketersMedia
Release ID: 88894052
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