Electric Truck Market Dynamics Trends,
Segmentation, Key Players And Forecast
With the rise in the concerns raised over the environmental degradation caused due to the
extensive usage of oil and gas-powered vehicles, the demand for environment-friendly
vehicles is growing rapidly across the globe. Moreover, the governments of several countries
are enacting policies and strict regulations such as targets pertaining to the reduction of
harmful gases such as carbon dioxide (CO2) and nitrogen oxides (NOx) aimed at promoting
the deployment of electric vehicles including electric trucks.
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Additionally, the governments of many countries are implementing strict diesel bans in urban
areas for mitigating the air pollution levels. For instance, the authorities in cities such as
Madrid, Mexico City, and Paris have already banned the usage of diesel-powered vehicles.
This is fueling the sales of electric trucks across the world. Currently, there are nearly 200
cities in Europe that have enacted strict environmental regulations and created low-emission
Because of the above-mentioned factors, the sales of electric trucks are rising sharply across
the world. This is, in turn, driving the advancement of the global electric truck market.
According to the estimates of P&S Intelligence, a market research company based in India,
the market will have a size of 1,508.1 thousand units by 2025. Furthermore, the market is
predicted to progress at a CAGR of 18.5% from 2018 to 2025.
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Across the globe, the sales of electric trucks were observed to be the highest in the Asia-
Pacific (APAC) region during the last few years. According to various reports, the industry
accounted for a sales volume of more than 80% in this regio