Europe Medium & Heavy Duty Electric Trucks Market Insights, Share & Growth Trends 2023 to 2028

Markntel Advisors’ report, Europe Medium & Heavy Duty Electric Trucks Research Report: Trend, Business Growth, Size, Future Scope, Segmentation, Dynamics, and Forecast to 2028, offers a comprehensive guide for the growing industry. The expert team of analysts dedicated significant effort to gathering and evaluating the latest market data, resulting in a detailed and up-to-date report that offers valuable insights for individuals who rely on data-driven decisions, including business owners and analysts. The research report on the Europe Medium & Heavy Duty Electric Trucks presents well-researched facts and figures pertinent to the industry, whether the goal is to explore new markets, launch a new product, or maintain a competitive advantage.

Europe Medium & Heavy Duty Electric Trucks Market Research Report & Market 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. 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.

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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.

Europe Medium & Heavy Duty Electric Trucks Market Segmentation Analysis:

According to MarkNtel study the market is segmented into the following categories:

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)

Of these three, Battery Electric Trucks (BET) would contribute considerably to the Europe Medium & Heavy Duty Electric Trucks Market owing to the density improvements and declining costs of lithium-ion batteries. As BETs consume no conventional resources, it results in zero-carbon emissions.

By Level of Automation

Level 1
Level 2
Level 3
Level 4 & 5

Here, the demand for Level 3 trucks is projected to rise substantially during 2023-28, owing mainly to the active government efforts toward increasing the fleet size of automated & electric driven trucks, coupled with initiatives like the Connected and Automated Mobility (CAM) taken by the UK government in 2015 that aimed at bringing together CAM technology developers, vehicle manufacturers & suppliers, academia, insurers, local & regional governments, and transport bodies, for R&D on automated vehicles.

By Range

Up to 200 miles
Above 200 miles

Among both, above 200-mile electric trucks are witnessing higher in Europe, mainly for inter-state & inter-city cargo deliveries that incur long distances.

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.

Germany held a remarkable share in the Europe Medium & Heavy Duty Electric Trucks market due to the rising research & development for electrifying the automotive sector in the country.

As indicated in the latest market research report published by Markntel Advisors, “Europe Medium & Heavy Duty Electric Trucks Research Report: Forecast (2023-2028)”, this report offers a detailed analysis of the industry, featuring insights into the Europe Medium & Heavy Duty Electric Trucks industry. It encompasses competitor and geographical analyses, as well as recent advancements in the market.

Browse Full Report Along with TOC and Figures - https://www.marknteladvisors.com/research-library/europe-medium-heavy-duty-electric-trucks-market.html

Top Companies Operating 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.

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Key Report Highlights:

Market Dimensions & Projections
Pricing Evaluation,
Recent Strategic Moves by Companies,
Primary Stakeholders,
Analysis of Import and Export Trends,
Competitive Landscape Assessment,
Emerging Opportunities,
Market Trends and Indicators

Note - If there are any particular details you need that are not currently included in the report, we will be happy to provide them as part of our customization services.

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