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Electric Truck Market Share

Report ID: GMI5800
Published Date: Apr 2024
Report Format: PDF

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Electric Truck Market Share

Daimler AG, Volvo Group, and Ford dominate the electric truck industry holding over 20% due to their extensive expertise, established manufacturing capabilities, and strategic investments in electric vehicle technology. Daimler AG, a global automotive leader, leverages its diverse portfolio of brands and innovative solutions to offer electric trucks tailored to various applications. Volvo Group, renowned for its commitment to sustainability, pioneers electric truck solutions with advanced technology and eco-friendly features.

Ford, a leading player in the automotive industry, brings its legacy of innovation and brand recognition to the electric truck market, offering versatile and efficient electric vehicles. These companies lead the market by developing reliable, high-performance electric trucks that meet the evolving needs of customers while addressing environmental concerns and regulatory requirements. Through continuous research, development, and collaboration, Daimler AG, Volvo Group, and Ford shape the future of transportation with their contributions to the market.

Electric Truck Market Companies

Major companies operating in the electric truck industry are:

Rivian
Nikola Corporation
BYD
Daimler AG
Volvo Group
Ford
General Motors
PACCAR
Mitsubishi Fuso Truck and Bus Corporation

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of electric truck reached USD 21.1 billion in 2023 and will grow at over 15% CAGR between 2024 and 2032, led by advancements in battery technology.

The light-duty trucks vehicle segment held over 65% of the market share in 2023, driven by the emergence of compact electric models tailored for urban delivery.

Europe electric truck industry recorded over 11% share in 2023, propelled by stringent emissions regulations and ambitious climate targets.

Rivian, Nikola Corporation, BYD, Daimler AG, Volvo Group, Ford, General Motors, and PACCAR among others.