China Electric Truck Market Overview
Base Year: 2023
Market Size in 2023: USD 2.4 Billion
Market Size in 2032: USD 15.6 Billion
Market Growth Rate: 23.26% (2024-2032)
An electric truck is a vehicle powered by electricity rather than traditional gasoline or diesel fuel. According to the latest report by IMARC Group, The China electric truck market size is projected to exhibit a growth rate (CAGR) of 23.26% during 2024-2032.
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China Electric Truck Industry Trends and Drivers:
The China electric truck market is expanding rapidly, owing to the attempts of the country to lower carbon emissions and promote cleaner transportation options. Besides this, the Chinese government bodies have increased the demand for electric trucks by enacting stringent emission laws and offering subsidies to stimulate the use of electric vehicles (EVs). In line with these factors, the rapid growth of the e-commerce and logistics industries is also contributing to the rising need for electric trucks to support last-mile deliveries and reduce pollution in urban areas, further propelling the China electric truck market. Moreover, the expansion of electric vehicle charging infrastructure across China is facilitating the transition to electric trucks by improving accessibility and reducing range anxiety for operators.
In addition to government support, technological advancements are driving the China electric truck market. Meanwhile, electric trucks are becoming more efficient with longer driving ranges and faster charging times, making them a viable alternative to diesel-powered vehicles. In line with these factors, innovations in battery technology, such as the development of lithium-ion and solid-state batteries, are enhancing the performance of electric trucks and lowering their operational costs. Another key trend is the growing demand for autonomous and connected electric trucks, which are expected to improve efficiency in the logistics sector. Apart from this, as more manufacturers and startups enter the market with competitive offerings, the market is anticipated to witness substantial expansion. Consequently, the convergence of these factors is expected to propel the growth of the China electric truck market over the forecasted period.
China Electric Truck Industry Segmentation:
The market report offers a comprehensive analysis of the segments, highlighting those with the largest China electric truck market share. It includes forecasts for the period 2024-2032 and historical data from 2018-2023 for the following segments.
The report has segmented the market into the following categories:
Breakup by Vehicle Type:
- Light-duty Truck
- Medium-duty Truck
- Heavy-duty Truck
Breakup by Propulsion:
- Battery Electric Truck
- Hybrid Electric Truck
- Plug-in Hybrid Electric Truck
- Fuel Cell Electric Truck
Breakup by Range:
- 0-150 Miles
- 151-300 Miles
- Above 300 Miles
Breakup by Application:
- Logistics
- Municipal
- Construction
- Mining
- Others
Breakup by Region:
- Guangdong
- Jiangsu
- Shandong
- Zhejiang
- Henan
- Others
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Key highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Strategic Recommendations
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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