Europe Medium & Heavy Duty Electric Trucks Market Research Report: Forecast (2023-2028)

By Battery Capacity (50-250 KWH, Above 250 KWH), By Battery Type (Lithium-Nickle-Manganese-Cobalt Oxide, Lithium-Iron-Phosphate, Others), By Propulsion Type (Battery Electric Truck [BET], Plug-in Hybr... ... [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), By Country (Germany, The UK, France, Italy, Spain, Rest of the Europe), By Company (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) Read more

  • Automotive
  • May 2023
  • 157
  • PDF, Excel, PPT

Market Definition

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.

Market Insights

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. It owes to the growing proliferation of EVs, several targets toward reducing carbon emissions, and the energy production shifts to renewable sources in order to meet the Paris Agreement target of reducing GHG emissions by 2050. As a result, the demand for electric trucks in countries like Austria, France, & Germany, among others, is dramatically increasing, thereby driving the market.

According to the International Energy Agency (IEA), the gross energy consumption through renewable resources in France increased from 17.2% in 2019 to 19.1% in 2020. Thus, both consumers & OEMs in countries like France, the UK, & Germany are shifting toward electric trucks to attain sustainable goals in the automotive sector.

Report Coverage Details
Study Period Historical Data: 2018-21
Base Year: 2022
Forecast Period: 2023-28
CAGR (2023-2028) 40%
Country Covered Germany, The UK, France, Italy, Spain, Rest of the Europe
Key Companies Profiled 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
Unit Denominations USD Million/Billion

 

Various government efforts, like the Efficient and Sustainable Mobility Incentives (MOVES) II program in Spain, the electro-mobility directive from Germany, and electric charging funding in France, have driven electrification in the transportation sector, alongside the expansion of EV charging infrastructure. Additionally, in 2022 the Heavy-duty vehicle (HDV) manufacturers made ambitious pledges to sell more & more battery-electric and fuel-cell electric trucks, to about 40% of new vehicle sales in 2030 and close to 100% of those in 2040, as per European Clean Trucking Alliance.

The European Union’s (EU) CO2 standards for trucks and buses also got revised in November 2022, which provided an opportunity to enshrine the ambitions of manufacturers for zero-emission vehicles into regulations. However, the declining crude oil reserves globally and, consequently, its increasing prices in European countries, coupled with the low maintenance of electric trucks, are other prominent aspects stimulating the market growth. Moreover, appealing truck & battery leasing alternatives and easier access to charging stations would further promulgate the expansion of the medium and heavy-duty electric trucks market in Europe over the coming years.

  1. Market Segmentation
  2. Introduction
    1. Product Definition
    2. Research Process         
    3. Assumptions
  3. Executive Summary
  4. Europe Medium and Heavy Duty Electric Trucks Market Trends & Insights
  5. Europe Medium and Heavy Duty Electric Trucks Market Dynamics
    1. Growth Drivers
    2. Challenges
  6. Europe Medium and Heavy Duty Electric Trucks Market Policies, Regulations, & Product Standards  
  7. Europe Medium and Heavy Duty Electric Trucks Market- Supply Chain Analysis
    1. Key Stakeholders
    2. Margins Across the Stakeholders
  8. Europe Medium and Heavy Duty Electric Trucks Market Start-up Ecosystem
    1. Company Started
    2. Country Incorporated
    3. Year on Year Funding Received
    4. Key Investors Active in the Market
    5. Series Wise Funding Received
  9. Europe Medium and Heavy Duty Electric Trucks Market Hotspot & Opportunities
  10. Europe Medium and Heavy Duty Electric Trucks Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Units Sold (Thousand Units)
    2. Market Share & Analysis
      1. By Battery Capacity
        1. 50-250 KWH
        2. Above 250 KWH
      2. By Battery Type
        1. Lithium-Nickle-Manganese-Cobalt Oxide
        2. Lithium-Iron-Phosphate
        3. Others (Lead-Acid Batteries, Ultracapacitors, etc.)
      3. By Propulsion Type
        1. Battery Electric Truck (BET)
        2. Plug-in Hybrid Electric Truck (PHET)
        3. Fuel Cell Electric Truck (FCET)
      4. By Level of Automation
        1. Level 1
        2. Level 2
        3. Level 3
        4. Level 4 & 5
      5. By Range
        1. Up to 200 miles
        2. Above 200 miles
      6. By Application
        1. Long Haul Transportation
        2. Field Services
        3. Distribution Services
        4. Others (Last Mile Delivery, Refuse Services, etc.)
      7. By Country
        1. Germany
        2. The UK
        3. France
        4. Italy
        5. Spain
        6. Rest of the Europe
      8. By Companies
        1. Units Sold and Revenue Generated
        2. Competition Characteristics
  11. Germany Medium and Heavy Duty Electric Trucks Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Units Sold (Thousand Units)
    2. Market Share & Analysis
      1. By Battery Capacity
      2. By Battery Type
      3. By Propulsion Type
      4. By Level of Automation
      5. By Range
      6. By Application
  12. The UK Medium and Heavy Duty Electric Trucks Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Units Sold (Thousand Units)
    2. Market Share & Analysis
      1. By Battery Capacity
      2. By Battery Type
      3. By Propulsion Type
      4. By Level of Automation
      5. By Range
      6. By Application
  13. France Medium and Heavy Duty Electric Trucks Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Units Sold (Thousand Units)
    2. Market Share & Analysis
      1. By Battery Capacity
      2. By Battery Type
      3. By Propulsion Type
      4. By Level of Automation
      5. By Range
      6. By Application
  14. Italy Medium and Heavy Duty Electric Trucks Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Units Sold (Thousand Units)
    2. Market Share & Analysis
      1. By Battery Capacity
      2. By Battery Type
      3. By Propulsion Type
      4. By Level of Automation
      5. By Range
      6. By Application
  15. Spain Medium and Heavy Duty Electric Trucks Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Units Sold (Thousand Units)
    2. Market Share & Analysis
      1. By Battery Capacity
      2. By Battery Type
      3. By Propulsion Type
      4. By Level of Automation
      5. By Range
      6. By Application
  16. Europe Medium and Heavy Duty Electric Trucks Market Key Strategic Imperatives for Growth & Success
  17. Competition Outlook
    1. Competition Matrix
      1. Brand Specialization
      2. Target Markets
      3. Target End Users
      4. Research & Development
      5. Strategic Alliances
      6. Strategic Initiatives
    2. Company Profiles (Business Description, Product Segments, Business Segments, Financials, Strategic Alliances/ Partnerships, Future Plans)
      1. Volvo Group
      2. Renault Trucks
      3. Scania AB
      4. Daimler
      5. MAN trucks
      6. Tevva Motors Limited
      7. Tesla Motors Inc. trucks
      8. IVECO SpA
      9. E-Force One AG
      10. DAF Trucks NV
      11. Others
  18. Disclaimer


MarkNtel Advisors follows a robust and iterative research methodology designed to ensure maximum accuracy and minimize deviation in market estimates and forecasts. Our approach combines both bottom-up and top-down techniques to effectively segment and quantify various aspects of the market. A consistent feature across all our research reports is data triangulation, which examines the market from three distinct perspectives to validate findings. Key components of our research process include:

1. Scope & Research Design At the outset, MarkNtel Advisors define the research objectives and formulate pertinent questions. This phase involves determining the type of research—qualitative or quantitative—and designing a methodology that outlines data collection methods, target demographics, and analytical tools. They also establish timelines and budgets to ensure the research aligns with client goals.

2. Sample Selection and Data Collection In this stage, the firm identifies the target audience and determines the appropriate sample size to ensure representativeness. They employ various sampling methods, such as random or stratified sampling, based on the research objectives. Data collection is carried out using tools like surveys, interviews, and observations, ensuring the gathered data is reliable and relevant.

3. Data Analysis and Validation Once data is collected, MarkNtel Advisors undertake a rigorous analysis process. This includes cleaning the data to remove inconsistencies, employing statistical software for quantitative analysis, and thematic analysis for qualitative data. Validation steps are taken to ensure the accuracy and reliability of the findings, minimizing biases and errors.

Data Trangulation

4. Data Forecast and FinalizationThe final phase involves forecasting future market trends based on the analyzed data. MarkNtel Advisors utilize predictive modeling and time series analysis to anticipate market behaviors. The insights are then compiled into comprehensive reports, featuring visual aids like charts and graphs, and include strategic recommendations to inform client decision-making

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