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Europe Electric Truck Market Trends

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

Europe Electric Truck Market Trends

Charging infrastructure for electric trucks encompasses the network of facilities and equipment necessary to recharge electric vehicles (EVs). This includes a variety of charging stations, from standard AC (alternating current) chargers suitable for overnight or depot-based charging, to more advanced DC (direct current) fast-charging stations designed for rapid replenishment. The infrastructure typically involves both public and private charging locations, strategically placed along major transport routes and within logistics hubs to ensure convenient access for long-haul and regional electric trucks.
 

Integrating these stations with existing fuel networks and ensuring their compatibility with a range of vehicle models are key aspects of developing a robust charging network. For instance, in May 2023, Scania has successfully installed and tested a pilot megawatt charging system from ABB E-mobility, representing the next milestone in the development of an efficient, high power charging solution for heavy duty vehicles. The technology will enable half the charging time for heavy duty vehicles.
 

Fast-charging technology significantly enhances the feasibility of using electric trucks for long-distance travel by reducing downtime. Unlike standard charging, which can take several hours, fast chargers use high-power DC to deliver energy quickly, often within 30 minutes to an hour, depending on the truck’s battery capacity and the charger’s output.
 

Advances in fast-charging technology include high-power chargers with capabilities of 350 kW or more, which can accommodate the larger batteries typical of electric trucks. Additionally, innovations like ultra-fast charging and battery swapping systems are being explored to further reduce charging times and improve operational efficiency, making electric trucks more competitive with their diesel counterparts in terms of turnaround and operational logistics.

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.

Europe Electric Truck Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 20
  • Tables & Figures: 230
  • Countries covered: 43
  • Pages: 185
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