Europe Electric Trucks Market Forecast to 2028 - COVID-19 Impact and Regional 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)
The Europe electric trucks market is expected to grow from US$ 1,937.33 million in 2022 to US$ 10,949.98 million by 2028. It is estimated to grow at a CAGR of 33.5% from 2022 to 2028.
In the past few years, government initiatives to promote the adoption of advanced transportation solutions such as electrification in both light and heavy vehicles. The first factor accelerating the use of electric components in heavy vehicles, such as tractors and agricultural machinery, is pressure from legislators and authorities for emissions control to reduce carbon dioxide and boost fuel efficiency. Integrating electrification in the automotive industry would significantly enhance ambient air quality standards in urban areas. Secondly, there would be a rising concern towards corporate social responsibility for major fleets and operators to maintain environmental ethics. Trucks with ranges from 150-300 km, with batteries, are supposed to play a vital role in urban areas where concern for air quality is high, and therefore need for stringent emissions laws is mandatory.
Furthermore, according to the International Energy Association (IEA), governments spent US$ 14,000 million on direct purchase incentives and tax exemptions for electric vehicles in 2020. Additionally, several governments responded to the economic slowdown brought by the COVID-19 epidemic with incentive programs and tax concessions that helped boost electric vehicle sales. Thus, the electric trucks market is growing due to the abovementioned factors.
Vendors can attract new customers and expand their footprints in emerging markets with new features and technologies. This factor is likely to drive the Europe electric trucks market at a healthy CAGR during the forecast period.
Europe Electric Trucks Market Revenue and Forecast to 2028 (US$ Million)
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Europe Electric Trucks Market Segmentation
The Europe 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 Germany, France, Italy, the UK, Russia, and the Rest of Europe.
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 Europe electric trucks market.
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Europe Electric Trucks Market – By Propulsion
1.3.2 Europe Electric Trucks Market – By Vehicle Type
1.3.3 Europe Electric Trucks Market – By Range
1.3.4 Europe Electric Trucks Market – By Level of Automation
1.3.5 Europe Electric Trucks Market – By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Europe Electric Trucks Market Landscape
4.1 Market Overview
4.2 Europe PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Europe Electric Trucks Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Government Initiatives and Stringent Emission Rules to Boost the Electric Trucks Growth
5.1.2 Surge in Production and Sales of EVs
5.2 Market Restraints
5.2.1 Low Penetration of Electric Powertrain in Heavy Commercial Vehicles (HCV)
5.3 Market Opportunities
5.3.1 Manufacturing of Self-Driving Truck Technology
5.4 Future Trends
5.4.1 Smart Charging and Connected Infrastructure
5.5 Impact Analysis of Drivers and Restraints
6. Electric Trucks Market – Europe Market Analysis
6.1 Europe Electric Trucks Market Overview
6.2 Europe Electric Trucks Market Forecast and Analysis
7. Europe Electric Trucks Market Revenue and Forecast to 2028 – Type
7.1 Overview
7.2 Europe Electric Trucks Market, By Propulsion Type (2021 and 2028)
7.3 BEV
7.3.1 Overview
7.3.2 BEV: Electric Trucks Market – Revenue and Forecast to 2028 (US$ Million)
7.4 PHEV
7.4.1 Overview
7.4.2 PHEV: Electric Trucks Market – Revenue and Forecast to 2028 (US$ Million)
7.5 FCV
7.5.1 Overview
7.5.2 FCV: Electric Trucks Market – Revenue and Forecast to 2028 (US$ Million)
8. Europe Electric Trucks Market – By Vehicle Type
8.1 Overview
8.2 Europe Electric Trucks Market, By Vehicle Type (2021 and 2028)
8.3 LCV
8.3.1 Overview
8.3.2 LCV: Electric Trucks Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Medium and HCV
8.4.1 Overview
8.4.2 Medium and HCV: Electric Trucks Market – Revenue and Forecast to 2028 (US$ Million)
9. Europe Electric Trucks Market – By Range
9.1 Overview
9.2 Europe Electric Trucks Market, By Range (2021 and 2028)
9.3 Less than 200 miles
9.3.1 Overview
9.3.2 Less than 200 miles: Electric Trucks Market – Revenue and Forecast to 2028 (US$ Million)
9.4 More than 200 miles
9.4.1 Overview
9.4.2 More than 200 miles: Electric Trucks Market – Revenue and Forecast to 2028 (US$ Million)
10. Europe Electric Trucks Market – By Level of Automation
10.1 Overview
10.2 Europe Electric Trucks Market, By Level of Automation (2021 and 2028)
10.3 Semi-Autonomous
10.3.1 Overview
10.3.2 Semi-Autonomous: Electric Trucks Market – Revenue and Forecast to 2028 (US$ Million)
10.4 Fully-Autonomous
10.4.1 Overview
10.4.2 Fully-Autonomous: Electric Trucks Market – Revenue and Forecast to 2028 (US$ Million)
11. Europe Electric Trucks Market –Country Analysis
11.1 Overview
11.1.1 Europe: Electric Trucks Market, by Key Country
11.1.1.1 Germany: Electric Trucks Market – Revenue and Forecast to 2028 (US$ Million)
11.1.1.1.1 Germany: Electric Trucks Market, By Propulsion Type
11.1.1.1.2 Germany: Electric Trucks Market, By Vehicle Type
11.1.1.1.3 Germany: Electric Trucks Market, By Range
11.1.1.1.4 Germany: Electric Trucks Market, By Level of Automation
11.1.1.2 France: Electric Trucks Market – Revenue and Forecast to 2028 (US$ Million)
11.1.1.2.1 France: Electric Trucks Market, By Propulsion Type
11.1.1.2.2 France: Electric Trucks Market, By Vehicle Type
11.1.1.2.3 France: Electric Trucks Market, By Range
11.1.1.2.4 France: Electric Trucks Market, By Level of Automation
11.1.1.3 Italy: Electric Trucks Market – Revenue and Forecast to 2028 (US$ Million)
11.1.1.3.1 Italy: Electric Trucks Market, By Propulsion Type
11.1.1.3.2 Italy: Electric Trucks Market, By Vehicle Type
11.1.1.3.3 Italy: Electric Trucks Market, By Range
11.1.1.3.4 Italy: Electric Trucks Market, By Level of Automation
11.1.1.4 UK: Electric Trucks Market – Revenue and Forecast to 2028 (US$ Million)
11.1.1.4.1 UK: Electric Trucks Market, By Propulsion Type
11.1.1.4.2 UK: Electric Trucks Market, By Vehicle Type
11.1.1.4.3 UK: Electric Trucks Market, By Range
11.1.1.4.4 UK: Electric Trucks Market, By Level of Automation
11.1.1.5 Russia: Electric Trucks Market – Revenue and Forecast to 2028 (US$ Million)
11.1.1.5.1 Russia: Electric Trucks Market, By Propulsion Type
11.1.1.5.2 Russia: Electric Trucks Market, By Vehicle Type
11.1.1.5.3 Russia: Electric Trucks Market, By Range
11.1.1.5.4 Russia: Electric Trucks Market, By Level of Automation
11.1.1.6 Rest of Europe: Electric Trucks Market – Revenue and Forecast to 2028 (US$ Million)
11.1.1.6.1 Rest of Europe: Electric Trucks Market, By Propulsion Type
11.1.1.6.2 Rest of Europe: Electric Trucks Market, By Vehicle Type
11.1.1.6.3 Rest of Europe: Electric Trucks Market, By Range
11.1.1.6.4 Rest of Europe: Electric Trucks Market, By Level of Automation
12. Industry Landscape
12.1 Market Initiative
12.2 New Development
13. Company Profile
13.1 AB Volvo
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 BYD Company Ltd
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Daimler AG
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 FAW Group Co.,Ltd.
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Navistar, Inc.
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 PACCAR Inc.
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Proterra Inc.
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Rivian
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 Scania
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 Tesla, Inc.
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Glossary
LIST OF TABLES
Table 1. Europe Electric Trucks Market, Revenue and Forecast, 2019–2028 (US$ Million)
Table 2. Europe: Electric Trucks Market, by Country – Revenue and Forecast to 2028 (US$ Million)
Table 3. Germany: Electric Trucks Market, By Propulsion Type – Revenue and Forecast to 2028 (US$ Million)
Table 4. Germany: Electric Trucks Market, By Vehicle Type – Revenue and Forecast to 2028 (US$ Million)
Table 5. Germany: Electric Trucks Market, By Range – Revenue and Forecast to 2028 (US$ Million)
Table 6. Germany: Electric Trucks Market, By Level of Automation – Revenue and Forecast to 2028 (US$ Million)
Table 7. France: Electric Trucks Market, By Propulsion Type – Revenue and Forecast to 2028 (US$ Million)
Table 8. France: Electric Trucks Market, By Vehicle Type – Revenue and Forecast to 2028 (US$ Million)
Table 9. France: Electric Trucks Market, By Range – Revenue and Forecast to 2028 (US$ Million)
Table 10. France: Electric Trucks Market, By Level of Automation – Revenue and Forecast to 2028 (US$ Million)
Table 11. Italy: Electric Trucks Market, By Propulsion Type – Revenue and Forecast to 2028 (US$ Million)
Table 12. Italy: Electric Trucks Market, By Vehicle Type – Revenue and Forecast to 2028 (US$ Million)
Table 13. Italy: Electric Trucks Market, By Range – Revenue and Forecast to 2028 (US$ Million)
Table 14. Italy: Electric Trucks Market, By Level of Automation – Revenue and Forecast to 2028 (US$ Million)
Table 15. UK: Electric Trucks Market, By Propulsion Type – Revenue and Forecast to 2028 (US$ Million)
Table 16. UK: Electric Trucks Market, By Vehicle Type – Revenue and Forecast to 2028 (US$ Million)
Table 17. UK: Electric Trucks Market, By Range – Revenue and Forecast to 2028 (US$ Million)
Table 18. UK: Electric Trucks Market, By Level of Automation – Revenue and Forecast to 2028 (US$ Million)
Table 19. Russia: Electric Trucks Market, By Propulsion Type – Revenue and Forecast to 2028 (US$ Million)
Table 20. Russia: Electric Trucks Market, By Vehicle Type – Revenue and Forecast to 2028 (US$ Million)
Table 21. Russia: Electric Trucks Market, By Range – Revenue and Forecast to 2028 (US$ Million)
Table 22. Russia: Electric Trucks Market, By Level of Automation – Revenue and Forecast to 2028 (US$ Million)
Table 23. Rest of Europe: Electric Trucks Market, By Propulsion Type – Revenue and Forecast to 2028 (US$ Million)
Table 24. Rest of Europe: Electric Trucks Market, By Vehicle Type – Revenue and Forecast to 2028 (US$ Million)
Table 25. Rest of Europe: Electric Trucks Market, By Range – Revenue and Forecast to 2028 (US$ Million)
Table 26. Rest of Europe: Electric Trucks Market, By Level of Automation – Revenue and Forecast to 2028 (US$ Million)
Table 27. Glossary of Terms
LIST OF FIGURES
Figure 1. Europe Electric Trucks Market Segmentation
Figure 2. Europe Electric Trucks Market Segmentation – by Country
Figure 3. Europe Electric Trucks Market Overview
Figure 4. Europe Electric Trucks Market, By Vehicle Type
Figure 5. Europe Electric Trucks Market, By Country
Figure 6. Europe: PEST Analysis
Figure 7. Electric Trucks Market Ecosystem Analysis
Figure 8. Expert Opinion
Figure 9. Europe Electric Trucks Market: Impact Analysis of Drivers and Restraints
Figure 10. Europe Electric Trucks Market, Forecast and Analysis (US$ Million)
Figure 11. Europe Electric Trucks Market Revenue Share, By Propulsion Type (2021 and 2028)
Figure 12. Europe BEV: Electric Trucks Market – Revenue and Forecast to 2028 (US$ Million)
Figure 13. Europe PHEV: Electric Trucks Market – Revenue and Forecast to 2028 (US$ Million)
Figure 14. Europe FCV: Electric Trucks Market – Revenue and Forecast to 2028 (US$ Million)
Figure 15. Europe Electric Trucks Market Revenue Share, By Vehicle Type (2021 and 2028)
Figure 16. Europe LCV: Electric Trucks Market – Revenue and Forecast to 2028 (US$ Million)
Figure 17. Europe Medium and HCV: Electric Trucks Market – Revenue and Forecast to 2028 (US$ Million)
Figure 18. Europe Electric Trucks Market Revenue Share, By Range (2021 and 2028)
Figure 19. Europe Less than 200 miles: Electric Trucks Market – Revenue and Forecast to 2028 (US$ Million)
Figure 20. Europe More than 200 miles: Electric Trucks Market – Revenue and Forecast to 2028 (US$ Million)
Figure 21. Europe Electric Trucks Market Revenue Share, By Level of Automation (2021 and 2028)
Figure 22. Europe Semi-Autonomous: Electric Trucks Market – Revenue and Forecast to 2028 (US$ Million)
Figure 23. Europe Fully-Autonomous: Electric Trucks Market – Revenue and Forecast to 2028 (US$ Million)
Figure 24. Europe: Electric Trucks Market, By Key Country- Revenue 2020 (US$ Million)
Figure 25. Europe: Electric Trucks Market Revenue Share, by Key Country (2021 & 2028)
Figure 26. Germany: Electric Trucks Market – Revenue and Forecast to 2028 (US$ Million)
Figure 27. France: Electric Trucks Market – Revenue and Forecast to 2028 (US$ Million)
Figure 28. Italy: Electric Trucks Market – Revenue and Forecast to 2028 (US$ Million)
Figure 29. UK: Electric Trucks Market – Revenue and Forecast to 2028 (US$ Million)
Figure 30. Russia: Electric Trucks Market – Revenue and Forecast to 2028 (US$ Million)
Figure 31. Rest of Europe: Electric Trucks Market – Revenue and Forecast to 2028 (US$ Million)
- AB Volvo
- BYD Company Ltd.
- Daimler AG
- FAW Group Co., Ltd
- Navistar, Inc.
- PACCAR Inc.
- Proterra Inc.
- Rivian
- Scania
- Tesla, Inc.
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Europe electric trucks market.
- Highlights key business priorities in order to assist companies to realign their business strategies
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- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth Europe market trends and outlook coupled with the factors driving the electric trucks market, as well as those hindering it
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