According to Markntel Advisors Report, Europe Medium Heavy Duty Electric Trucks Market is expected to grow at a significant growth rate, and the analysis period is 2023-2028, considering the base year as 2022.Consistent monitoring and evaluating of market dynamics to stay informed and adapt your strategies accordingly. As a market research and consulting firm, we offer market research reports that focus on major parameters including Target Market Identification, Customer Needs and Preferences, Thorough Competitor Analysis, Market Size Market Analysis, and other major factors. At the end, we do provide meaningful insights and actionable recommendations that inform decision-making and strategy development.
Several European countries have rigorously implemented zero-emission norms, and are increasingly adopting green mobility solutions, owing to which EV (Electric Vehicle) sales are skyrocketing with ever-increased EV charging infrastructure developments alongside incentives for EV buyers. As governments continue to focus on lowering these emissions and the e-commerce logistics sectors are flourishing at a phenomenal pace, Europe is witnessing a significantly surging demand for medium heavy-duty electric trucks.
Global Europe Medium Heavy Duty Electric Trucks Market Research Report Summary:
The Europe Medium Heavy Duty Electric Trucks market is projected to grow at a CAGR of around 40% during the forecast period, i.e., 2023-28.
Time Period Captured in the Report:
- Historical Years: 2018-21
- Base Years: 2022
- Forecast Years: 2023-28
Who are the Key Players Operating in the Europe Medium Heavy Duty Electric Trucks Market?
The top companies of the Europe Medium Heavy Duty Electric Trucks Market ruling the industry are:
Volvo Group, Renault Trucks, Scania AB, Daimler, MAN trucks, Tevva Motors Limited, Tesla Motors Inc. trucks, IVECO SpA, E-Force One AG, DAF Trucks NV, Others
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What is Included in Europe Medium Heavy Duty Electric Trucks Market Segmentation?
The Europe Medium Heavy Duty Electric Trucks Market explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic. The further bifurcations are as follows:
- By Battery Capacity
- 50-250 KWH
- Above 250 KWH
- By Battery Type
- Lithium-Nickle-Manganese-Cobalt Oxide
- Lithium-Iron-Phosphate
- Others (Lead-Acid Batteries, Ultracapacitors, etc.)
- By Propulsion Type
- Battery Electric Truck (BET)
- Plug-in Hybrid Electric Truck (PHET)
- Fuel Cell Electric Truck (FCET)
- By Level of Automation
- Level 1
- Level 2
- Level 3
- Level 4 5
- By Range
- Up to 200 miles
- Above 200 miles
- By Application
- Long Haul Transportation
- Field Services
- Distribution Services
- Others (Last Mile Delivery, Refuse Services, etc.)
- By Country
- Germany
- The UK
- France
- Italy
- Spain
- Rest of the Europe
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Europe Medium Heavy Duty Electric Trucks Market Dynamics:
Key Driver: Increasing Implementation of Stringent Norms for Emission Control
The sales of medium and heavy duty trucks vehicles have been growing steadily in Europe as more more emission-related norms regulations are being implemented by governments the European Union in order to reduce the impact of global warming greenhouse effect. In 2022, the European Union presented the new Euro 7 standards for ensuring cleaner vehicles on roads and improved air quality. These norms extremely focus on lowering harmful gasses like carbon monoxide, hydrocarbons, nitrogen oxides, etc.
In addition, various countries like Portugal, Finland, Denmark, among others, have set their targets to phase-out conventional fuel-based trucks by 2040, which would result in a strong demand for electric trucks in the coming years. Hence, OEMs like Volvo, Renault, MAN, Scania are increasing their production capacities in order to cater to the evolving consumer demands, thereby driving the Europe Medium Heavy Duty Electric Trucks Market.
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