Market research reports, consulting: Global Market Insights Inc.

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Regional Truck Market Trends

Report ID: GMI9246 Published Date: April 2024Report Format: PDF
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Regional Truck Market Trends

The regional truck industry is witnessing significant technological advancements. The emphasis on sustainability and emissions reduction has been a primary motivator of technological advancements. Electric regional trucks provide an appealing alternative to conventional gasoline-powered versions. With zero tailpipe emissions, they may help businesses comply with environmental rules while also contributing to healthier urban air. This is especially critical for delivery and operations in city centers.

Furthermore, electric powertrains have lower operating costs owing to reduced fuel use and maintenance requirements. This results in long-term savings for firms, particularly those operating in cities with possibly higher fuel prices and stricter emissions rules. The combination of electric powertrains and other in-vehicle technology has the potential to significantly boost the truck industry.

In April 2024, FOOTT, a waste and recycling company, conducted the trial of a Volvo FE electric truck on regional routes, marking a significant move toward sustainable transport. This initiative involved a month-long trial of the electric truck, showcasing FOOTT's commitment to embracing innovative solutions for waste management and transportation. The three-axle 6×2 truck is well suited for waste collection and has been fitted with a 16 cubic meter waste body. It utilizes four Gen 2 batteries with a capacity of 265KWh and has a potential range of up to 220 kilometers. FOOTT is exploring the potential use of electric trucks for council kerbside collections, and for short-haul transport, where feasible.

Author: Preeti Wadhwani, Aishvarya Ambekar
Frequently Asked Question(FAQ) :

How much is the regional truck market worth?+

The market size of regional truck reached USD 36.9 billion in 2023 and will grow at over 4.5% CAGR between 2024 and 2032, led by the surge in online shopping and e-commerce.

Why is the demand for diesel regional trucks rising?+

The diesel fuel segment accounted for 80% of the market share in 2023, owing to their capacity to produce tremendous power and torque.

Why are regional trucks preferred in Asia Pacific?+

Asia Pacific regional truck industry held 68% share in 2023, due to high demand for last-mile delivery services.

Who are the major regional trucks market players?+

Daimler Truck, Ford Motor, Hino Truck, MAN SE, Navistar, PACCAR Inc., Scania AB, TRATON GROUP, and Volkswagen among others.

Regional Truck Market Scope

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