The heavy duty truck electrification market accounted to US$ 8.28 Bn in 2018 and is expected to grow at a CAGR of 14.3% during the forecast period 2019 – 2027, to account to US$ 25.5 Bn by 2027.
Geographically, the heavy duty truck electrification market is segmented into North America, APAC, Europe, MEA, and SAM. Asia Pacific led the heavy duty truck electrification market in 2018 with a significant market share and is anticipated to continue its dominance in the coming years to during the forecast period. The government bodies of India and China has implemented a proposal wherein they would catalyze the company costs on the production of electric vehicles, which reduces the emission substantially. The government is offering to invest hugely to scale up EV production and sales.
North America is the second-largest market in the heavy duty truck electrification market. Apart from APAC and North America, Europe remains at the third-largest geographic segment in the heavy duty truck electrification market. Some of the major truck manufacturers in Europe have been testing electric delivery trucks that would be commercialized in the coming years. These electric delivery trucks are driven with better driver comfort, the lower total cost of ownership, tightening CO2 regulations, and better air quality action in cities. The implementations of electric vehicles have witnessed at a rapid pace in the European region.
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Key players in this market include :
- Aisin Seiki Co.Ltd.
- Borgwarner Inc.
- Continental AG
- Delphi technologies PLC
- Denso corporation
- Magna International Inc
- Mitsubishi Motors Corporation
- Robert Bosch GmbH
- Schaeffler Technologies AG & Co. KG
- ZF Friedrichshafen AG
The latest research report on the “Heavy Duty Truck Electrification Market– Industry Analysis, Market Size, Opportunities and Forecast, 2019 – 2027” provides a comprehensive assessment of Heavy Duty Truck Electrification Market for the forecast period from 2019 to 2027, including market values for the years 2018 and 2019. The investigative report provides a detailed analysis of the impact of COVID-19 on various segments in Heavy Duty Truck Electrification Market based on product type, application, and end-use across numerous countries around the world. Further, the report also provides insights into market developments, trends, supply and demand changes across various regions across the globe. Thereby, the report provides a holistic view on Heavy Duty Truck Electrification Market in order to help decision makers with various strategic insights and future outlook. Heavy Duty Truck Electrification Market is expected to witness continued growth during the forecast period from 2019 to 2027.
This is a professional and in-depth study on the current state of Heavy Duty Truck Electrification Market with a basic overview of the industry including definitions, classifications, applications and industry chain structure. The Strategic Insights and Development plans are also discussed and manufacturing processes and cost structures analyzed. Heavy Duty Truck Electrification Market import/export consumption, supply and demand figures and cost price and production value gross margins are also provided.
The report focuses on global major leading Heavy Duty Truck Electrification Market players providing information such as company profiles, product picture and specification, capacity, production, price, cost, revenue and contact information. Upstream raw materials and equipment and downstream demand analysis is also carried out.
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Highlights key business priorities to assist companies realign their business strategies.
- Features key findings and crucial progressive industry trends in the global Heavy Duty Truck Electrification Market, thereby allowing players to develop effective long-term strategies.
- Develops/modifies business expansion plans by using substantial growth offering from developed and emerging markets.
- Scrutinizes in-depth market trends as well as key market drivers and restraints.
- Enhances the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.
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