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Europe Electric Truck Market Share

Report ID: GMI11521
Published Date: Oct 2024
Report Format: PDF

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Europe Electric Truck Market Share

The competitive landscape of the European electric truck industry features a mix of major automotive manufacturers and emerging startups, all competing for market share as demand for sustainable transportation solutions rises. Key factors include technological advancements, battery efficiency, and the development of charging infrastructure. Supportive regulations for zero-emission vehicles further intensify competition. Partnerships among manufacturers, logistics providers, and technology companies are common to enhance product offerings and operational capabilities. As the market evolves, distinguishing factors such as service, range, and total cost of ownership will be vital for success.

Europe Electric Truck Market Companies

Major players operating in the Europe electric truck industry are:

BYD
DAF Trucks
Daimler
Hino
Isuzu
Nikola Corporation
PACCAR
Renault
Traton
Volvo

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market for electric truck in Europe is set to expand at a staggering CAGR of over 50% from 2024 to 2032, led by the expansion of low-emission zones (LEZs) and the increasing regulatory pressure on diesel trucks in urban areas.

The heavy-duty electric truck segment was valued at over USD 1 billion in 2023. Growth in this segment is fueled by financial incentives such as subsidies, tax breaks, and grants, making electric heavy-duty trucks more affordable and attractive to businesses looking to transition to greener transportation solutions.

Germany market held over 20% share in 2023. The country is home to leading automotive manufacturers such as Daimler, Volkswagen, and BMW, who are heavily investing in electric vehicle technology, positioning Germany as a hub for electric truck development.

The market includes major players such as BYD, DAF Trucks, Daimler, Hino, Isuzu, Nikola Corporation, PACCAR, Renault, Traton, and Volvo.