Declining battery prices and low
operating and maintenance costs of electric trucks to drive Asia-Pacific
electric truck market through 2024
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| Asia-Pacific Electric Truck Market |
According
to TechSci Research report, “Asia-Pacific Electric Truck Market
By Vehicle Type, By Type, By Range, By Application, By Country, Competition,
Forecast & Opportunities, 2024”, Asia-Pacific electric truck market is projected
to grow at a double-digit CAGR during 2019-2024, as governments across the
region are focusing on reducing carbon emissions and tackling greenhouse gas
emissions. Moreover, technological advancements in the electric vehicle field,
low operating and maintenance costs and depreciating prices of trucks are expected
to boost the adoption of electric trucks in the region.
Browse
an in-depth TOC on "Asia-Pacific
Electric Truck Market "
In terms of type, the region’s electric truck market
can be segmented into battery electric vehicle (BEV), hybrid electric vehicle
(HEV), plug-in hybrid electric vehicle (PHEV) and fuel-cell electric vehicle
(FCEV). BEV segment is expected to witness significant adoption in Asia-Pacific
in the coming years, on account of decreasing battery prices. Moreover,
advancements in Li-ion batteries make them light weight with long lifespan.
Electric truck finds applications in logistics, mining and construction sectors.
Logistics sector would dominate the region’s electric truck market in coming
years, backed by growing logistics and e-commerce industries.
Customers can also request for 10% free customization
on this report.
Major players operating in Asia-Pacific electric truck market are Volvo
Group, Dongfeng Motor Corporation, BYD Company Limited, Daimler AG, Isuzu
Motors Ltd., Hino Motors Ltd., Scania AB, MAN Truck & Bus AG, Navistar
International Corp and Foton Motor Inc. Companies operating in the market are adopting organic and inorganic
strategies such as product launch, investments & expansions and agreements
& contracts to ensure growth in the market. China is at the forefront of Asia-Pacific
electric truck market due to the stringent regulations imposed by the
government and presence of several Chinese players.
“Electric trucks have low total cost of
ownership when compared with their diesel counterparts, thus boosting their sales
over the course of next five years. Moreover, China is the biggest market for
electric vehicles, backed by favorable government subsidies and national
alternative-fuel-vehicle replacement sales targets. Consequently, Asia-Pacific
electric truck market would register strong growth during the forecast period.”, said Mr. Karan Chechi, Research Director
with TechSci Research, a research based global management consulting firm.
“Asia-Pacific
Electric Truck Market By Vehicle Type, By Type, By Range, By Application, By Country,
Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of Asia-Pacific
electric truck market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in Asia-Pacific electric truck market.
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