Asia Pacific Electric Trucks Market

Historic Data: 2020-2021   |   Base Year: 2022   |   Forecast Period: 2023-2028

Analysis By Propulsion (BEV, PHEV, and FCV), Vehicle Type (LCV and Medium & HCV), Range (Less than 200 miles and More than 200 Miles), and Level of Automation (Semi-Autonomous and Fully Autonomous) 


No. of Pages: 134    |    Report Code: BMIRE00025892    |    Category: Automotive and Transportation

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Asia Pacific Electric Trucks Market

The APAC electric trucks market is expected to grow from US$ 1,703.17 million in 2022 to US$ 7,862.83 million by 2028. It is estimated to grow at a CAGR of 29.0% from 2022 to 2028.

The accelerated technological development of next-generation electric vehicles and their supporting components and the evolution of charging technology providers have led to quick advancements in EV charging technology. The operations of electric vehicle charging stations are transforming due to the rising penetration of artificial intelligence (AI), the internet of things (IoT), and cloud computing, as major players in the EV charging market are beginning to shift their focus toward the development of smart testing protocols, which enables data connection between stations and EVs.

 

Many technology providers, including ABB, Delta Electronics, and Enel X, focus on next-generation electric vehicle (EV) testing technology to integrate cloud connectivity, AI, access via smartphone, and real-time simulation in their infrastructure.

 

Furthermore, the emergence of new software solutions, such as cloud-based digital solutions for actual-time fleet management and acceleration in electrification, are shaping the electric trucks market. For instance, the charging management software offered by EVBox enables users to track, manage, and optimize their EV driving experience. Hence to monitor this, AI-integrated efficient testing solutions will be in major demand over the forecast period.

 

Vendors can attract new customers and expand their footprints in emerging markets with new features and technologies. This factor is likely to drive the APAC electric trucks market at a significant CAGR during the forecast period.   

 

 APAC Electric Trucks Market Revenue and Forecast to 2028 (US$ Million)

 APAC Electric Trucks Market Revenue and Forecast to 2028 (US$ Million)
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Asia Pacific Electric Trucks Strategic Insights

Strategic insights for the Asia Pacific Electric Trucks provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

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Asia Pacific Electric Trucks Report Scope

Report Attribute Details
Market size in 2022 US$ 1,703.17 Million
Market Size by 2028 US$ 7,862.83 Million
Global CAGR (2022 - 2028) 29.0%
Historical Data 2020-2021
Forecast period 2023-2028
Segments Covered By Propulsion
  • BEV
  • PHEV
  • FCV
By Vehicle Type
  • LCV
  • Medium
  • HCV
By Range
  • Less than 200 miles
  • More than 200 Miles
By Level of Automation
  • Semi-Autonomous
  • Fully Autonomous
Regions and Countries Covered Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
Market leaders and key company profiles
  • AB Volvo
  • BYD Company Ltd.
  • Daimler AG
  • FAW Group Co., Ltd
  • Navistar, Inc.
  • PACCAR Inc.
  • Proterra Inc.
  • Rivian
  • Scania
  • Tesla, Inc.
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    Asia Pacific Electric Trucks Regional Insights

    The geographic scope of the Asia Pacific Electric Trucks refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

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    APAC Electric Trucks Market Segmentation           

     

    The APAC electric trucks market is segmented on the basis of propulsion type, vehicle type, range, level of automation, and country.

     

    Based on propulsion, the market is segmented into BEV, FCV, and PHEV. The BEV segment is the dominant one in 2022 and is expected to be the fastest-growing segment during the forecast period.

     

    Based on vehicle type, the market is bifurcated into LCVs and medium & HCVs. The LCV segment is the dominant one in 2022 and is expected to be the fastest-growing segment during the forecast period.

     

    Based on range, the market is segmented into less than 200 miles and more than 200 miles. The more than 200 miles segment has emerged as the dominating one in 2022 and is expected to be the fastest-growing segment during the forecast period.

     

    Based on level of automation, the market is segmented into semi-autonomous and fully autonomous. The fully autonomous segment has been dominant in 2022 and is expected to be the fastest-growing segment during the forecast period.

     

    Based on country, the regional market is segmented into Australia, China, Japan, South Korea, and the Rest of APAC.     

     

    AB Volvo; BYD Company Ltd.; Daimler AG; FAW Group Co., Ltd; Navistar, Inc.; PACCAR Inc.; Proterra Inc.; Rivian; Scania; and Tesla, Inc. are leading companies in the APAC electric trucks market. 

    The List of Companies - Asia Pacific Electric Trucks Market

    1. AB Volvo
    2. BYD Company Ltd.
    3. Daimler AG
    4. FAW Group Co., Ltd
    5. Navistar, Inc.
    6. PACCAR Inc.
    7. Proterra Inc.
    8. Rivian
    9. Scania
    10. Tesla, Inc.
    Frequently Asked Questions
    How big is the Asia Pacific Electric Trucks Market?

    The Asia Pacific Electric Trucks Market is valued at US$ 1,703.17 Million in 2022, it is projected to reach US$ 7,862.83 Million by 2028.

    What is the CAGR for Asia Pacific Electric Trucks Market by (2022 - 2028)?

    As per our report Asia Pacific Electric Trucks Market, the market size is valued at US$ 1,703.17 Million in 2022, projecting it to reach US$ 7,862.83 Million by 2028. This translates to a CAGR of approximately 29.0% during the forecast period.

    What segments are covered in this report?

    The Asia Pacific Electric Trucks Market report typically cover these key segments-

  • Propulsion (BEV, PHEV, FCV)
  • Vehicle Type (LCV, Medium, HCV)
  • Range (Less than 200 miles, More than 200 Miles)
  • What is the historic period, base year, and forecast period taken for Asia Pacific Electric Trucks Market?

    The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Electric Trucks Market report:

  • Historic Period : 2020-2021
  • Base Year : 2022
  • Forecast Period : 2023-2028
  • Who are the major players in Asia Pacific Electric Trucks Market?

    The Asia Pacific Electric Trucks Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:

  • AB Volvo
  • BYD Company Ltd.
  • Daimler AG
  • FAW Group Co., Ltd
  • Navistar, Inc.
  • PACCAR Inc.
  • Proterra Inc.
  • Rivian
  • Scania
  • Tesla, Inc.
  • Who should buy this report?

    The Asia Pacific Electric Trucks Market report is valuable for diverse stakeholders, including:

    • Investors: Provides insights for investment decisions pertaining to market growth, companies, or industry insights. Helps assess market attractiveness and potential returns.
    • Industry Players: Offers competitive intelligence, market sizing, and trend analysis to inform strategic planning, product development, and sales strategies.
    • Suppliers and Manufacturers: Helps understand market demand for components, materials, and services related to concerned industry.
    • Researchers and Consultants: Provides data and analysis for academic research, consulting projects, and market studies.
    • Financial Institutions: Helps assess risks and opportunities associated with financing or investing in the concerned market.

    Essentially, anyone involved in or considering involvement in the Asia Pacific Electric Trucks Market value chain can benefit from the information contained in a comprehensive market report.