March 4, 2024

Zero Emission Trucks Market Size to Touch US$ 60.78 Bn By 2032

The zero emission trucks market size was estimated at US$ 5.93 billion in 2023 it is predicted to grow at a CAGR of 29.50% from 2023 to 2032 to reach around US$ 60.78 billion by 2032.

Zero Emission Trucks Market Size 2023 To 2032

Key Takeaways

  • North America is projected to hold a significant share in the market during the forecast period.
  • Asia Pacific is expected to witness a significant expansion during the projected timeframe.
  • By vehicle type, the electric light-duty trucks segment dominated the zero emission trucks market in 2022.
  • By vehicle type, the electric medium-duty trucks segment is observed to expand at the fastest rate during the forecast period.
  • By source, the battery electric trucks segment dominated the market in 2022.
  • By source, the hybrid electric trucks segment is observed to witness the fastest expansion over the forecast period.
  • By application, the logistics and transportation segment dominated the market in 2022.

The zero emission trucks market report offers an exclusive study of the present state expected at the market dynamics, opportunities, market scheme, growth analysis and regional outlook. The report presents energetic visions to conclude and study the market size, market aspiration, and competitive environment. The research also focuses on the important achievements of the market, research & development, and regional (country by country) growth of the leading vendors operating in the market

The study offers intricate dynamics about different aspects of the global zero emission trucks market, which aids companies operating in the market in making strategies development decisions. The study also elaborates on remarkable changes that are highly anticipated to configure growth of the global zero emission trucks market during the forecast period. It also includes a key indicator analysis that highlights growth prospects of this market and approximate statistics related to growth of the market in terms of value (US$ Mn) and volume (tons).

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Zero Emission Trucks Market Scope

Report CoverageDetails
Growth Rate from 2023 to 2032CAGR of 29.50%
Market Size in 2023USD 5.93 Billion
Market Size by 2032USD 60.78 Billion
Largest MarketNorth America
Base Year2022
Forecast Period2023 to 2032
Segments CoveredBy Vehicle Type, By Source, and By Application
Regions CoveredNorth America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

This study covers an elaborate segmentation of the global zero emission trucks market, along with important information and a competition outlook. The report mentions company profiles of players that are currently influence the global zero emission trucks market, wherein various developments, expansions, and winning strategies practiced and execute by leading players have been presented in detail.

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Recent Developments

  • In December 2023, the Middle East’s first all-electric, zero-emission ready-mix truck was unveiled by CEMEX. The truck can carry a full load of concrete and is fully functional, according to the manufacturer. It has a 350kWh battery that is state-of-the-art and can run the device for an average workday on a single charge.  In order to find, test, learn from, and scale the long-term solutions required for hybrid and zero-emission vehicles to be widely available, CEMEX is working with manufacturers and partners.
  • In September 2023, Alfa Laval and Scan Global Logistics announced the launch of their first electric scania truck as part of zero emissions partnership. The zero-emission truck is manufactured in close collaboration with Scania, which will operate a designated lane between Alfa Laval’s manufacturing sites in Sweden along with SGL in Denmark.

Zero Emission Trucks Market Companies

  • Daimler
  • Volvo
  • PACCAR
  • Faw Jiefang Group
  • Man
  • Scania
  • Shaanxi Heavy Duty Automobile
  • Isuzu Motors

Segments Covered in the Report

By Vehicle Type

  • Electric Light-Duty Trucks
  • Electric Medium-Duty Trucks
  • Electric Heavy-Duty Trucks

By Source

  • Battery Electric Trucks (BEVs)
  • Hydrogen Fuel Cell Electric Trucks
  • Hybrid Electric Trucks

By Application

  • Last Mile Delivery
  • Logistics and Transportation
  • Construction
  • Waste Management

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

Research Methodology

The research methodology acquire by analysts for assemble the global zero emission trucks market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts for the global market.

During the primary research phase, analysts interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through interviews of genuine resources, analysts have emphasized the changing scenario of the global market.

For secondary research, analysts study numerous annual report declaration, white papers, market association declaration, and company websites to obtain the necessary understanding of the global zero emission trucks market.

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