The recent analytical report published by Markntel Advisors (a leading consulting, data analytics, and market research firm), Europe Medium & Heavy Duty Electric Trucks Market comprises a detailed study of critical and major aspects of market dynamics, i.e. market trends, size, forecasts, growth factors, challenges, and competitor landscape.
In-Depth Market Overview of Europe Medium & Heavy Duty Electric Trucks Industry (2023-2028):
According to the latest report, 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. The report demonstrates the prominent factors propelling the exponential growth of the Europe Medium & Heavy Duty Electric Trucks industry.
Key Takeaways: Beneficial for Stakeholders and Clients:
- Historical Data: 2018-21
- Base Year: 2022
- Forecast Period: 2023-28
- CAGR: 40%
What are the major Driver the Europe Medium & Heavy Duty Electric Trucks industry?
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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Europe Medium & Heavy Duty Electric Trucks Market Segmentation
The Europe Medium & Heavy Duty Electric Trucks Market analysis of Markntel Advisors 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
As per the regional aspect, the Europe Medium & Heavy Duty Electric Trucks Market is expected to be dominated by Germany by capturing the potential market share.
Explore further details about this research report – https://www.marknteladvisors.com/research-library/europe-medium-heavy-duty-electric-trucks-market.html
Top Companies in the Europe Medium & Heavy Duty Electric Trucks Market
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
Global Europe Medium & Heavy Duty Electric Trucks Market Recent Development
2022: MAN Truck & Bus SE announced the production of high voltage batteries for electric trucks & buses, in Nuremberg, Germany from 2025, with an investment of around USD106 million.
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