The global electric commercial truck market is anticipated to grow at a considerable CAGR of 22.3 % during the forecast period (2021-2027). The reducing cost of EV batteries will make trucks more affordable and will help to increase demand, which will gear up the electric commercial truck market during the forecast period. Government strictness, companies are pushed to switch on electric trucks and vehicles to reduce emissions. Due to technological advancements and the production of EV batteries on a large bulk scale, the cost of EV batteries has been reduced over the past decade. For instance, in September 2020, Tesla Revealed a Plan to halve EV battery costs at battery day 2020. However, Tesla CEO Elon Musk combined these with others not released before to promise a reduction in the cost per kWh of batteries of over 50%. This would be a phenomenal achievement and way beyond current predictions for the industry. It could lead to a revolutionary reduction in EV pricing.
Browse the full report description of "Global Electric Commercial Truck Market Size, Share & Trends Analysis Report by Propulsion (Plug-In Hybrid, Fuel Cell Electric, and Battery Electric), and by Application (Logistics, Municipal, Construction, Mining, and Others) Forecast Period (2021-2027)" at https://www.omrglobal.com/industry-reports/electric-commercial-truck-market
Market Coverage
• The market number available for – 2020-2027
• Base year- 2020
• Forecast period- 2021-2027
• Segment Covered-
o By Electric Propulsion
o By Applications
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- including AB Volvo, Daimler AG, Dongfeng Motor Corp., BYD Company Ltd., PACCAR Inc., Scania CV AB, Nikola Corp., Tesla Inc., Workhouse Group, and others.
Key questions addressed by the report
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?
Global Electric Commercial Truck Market Report Segment
By Electric Propulsion
• Plug-In Hybrid
• Fuel cell Electric
• Battery Electric
By Applications
• Logistics
• Municipal
• Construction
• Mining
• Others
Global Electric Commercial Truck Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa