Europe Medium & Heavy Duty Electric Trucks Market Revenue, Growth, Upcoming Trends under Segmentation, Key Manufacturers, Future Investment and Forecast Till 2028: Markntel Advisors
The demand for electric trucks increased, meanwhile, as regulations loosened and e-commerce and logistics companies saw income increases.
The growing number of government-led programmes and regulations to limit and minimise carbon emissions is driving the market’s expansion. Medium and heavy duty truck sales have been gradually increasing in Europe as governments and the European Union impose an increasing number of emission-related regulations and limits in an effort to mitigate the consequences of global warming and the greenhouse effect.
According to Markntel Advisors, “Europe Medium & Heavy Duty Electric Trucks Market Size- By Battery Capacity, By Propulsion Type, By Battery Type, By Range, By Level of Automation, By Application- Regional Outlook, Competitive Strategies and Segment Forecast to 2028” state that the Europe Medium & Heavy Duty Electric Trucks Market is estimated to grow at a CAGR of 40% during the forecast period 2023-2028.
Impact on Covid-19 for the Market:
Due to trade and travel restrictions enforced by governments around the region, the COVID-19 pandemic hampered the expansion of the electric truck sector. The sales of electric trucks did, however, noticeably decline in the first half of 2020 and then dramatically rebound in the second. Due to their impressive benefits over diesel trucks, including their incredible torque, low noise emissions, low maintenance requirements, and other factors, electric vehicles are predicted to overtake them in popularity over the medium term.
The demand for electric trucks increased, meanwhile, as regulations loosened and e-commerce and logistics companies saw income increases. The current state of affairs is also anticipated to be influenced by the growth of alternative fuel vehicles, particularly commercial battery-electric trucks, throughout the European Union in the aftermath of its significant environmental goals. Switzerland, for example, is driving the expansion of fuel cell electric trucks by imposing a road fee on diesel truck operations, which in turn is attracting huge Swiss retail organisations to alternative fuels.
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Key Players of Europe Medium & Heavy Duty Electric Trucks Market:
The Key Players of Europe Medium & Heavy Duty Electric Trucks Market are Volvo Group, Scania AB, Renault Trucks, Daimler, Tevva Motors Limited, MAN trucks, Tesla Motors Inc. trucks, E-Force One AG, IVECO SpA, DAF Trucks NV, Others.
Europe Medium & Heavy Duty Electric Trucks Market Segmentation:
The MarkNtel Advisors report on the Europe Medium & Heavy Duty Electric Trucks Market Analysis, identifies, and highlights the key trends and drivers that are affecting each segment. The market has been further divided into the following categories by the report:
Based on Propulsion Type: Europe Medium & Heavy Duty Electric Trucks Market is Segmented as: Battery Electric Truck (BET), Plug-in Hybrid Electric Truck (PHET), Fuel Cell Electric Truck (FCET).
Based on Level of Automation: Europe Medium & Heavy Duty Electric Trucks Market is Segmented as: Level 1, Level 2, Level 3, Level 4 & 5.
For More Information About this Report:
Europe Medium & Heavy Duty Electric Trucks Market Trends
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