Report Description

Asia-Pacific Electric Truck Market By Vehicle Type (LDT, MDT & HDT), By Type (BEV, HEV, PHEV & FCEV), By Range (Upto 150 Miles, 151-250 Miles, 251-500 Miles & Above 500 Miles), By Application (Logistics, Mining & Construction), By Country, Competition, Forecast & Opportunities, 2024

  • Publish Date: NA
  • Format : PDF
  • Pages : 80
  • Industry : Automotive

Asia-Pacific electric truck market is expected to grow at a double-digit CAGR during the forecast period, as electric trucks are less polluting and cost-effective when compared with fuel-based commercial vehicles. Sales volume of electric trucks across the globe is projected to cross 1.3 million units by 2024, on the back of government incentives and regulations in various regions.

Electric truck market in the region can be segmented based on vehicle type, type, range and application. Based on vehicle type, the region’s electric truck market can be categorized into light duty truck (LDT), medium duty truck (MDT) and heavy-duty truck (HDT). On account of increasing freight in developing economies such as India and China, heavy-duty truck segment is anticipated to grow at an impressive rate during the forecast period. Based on type, the market can be classified into battery electric vehicle (BEV), hybrid electric vehicle (HEV), plug-in hybrid electric vehicle (PHEV) and fuel-cell electric vehicle (FCEV). The preference for BEVs is increasing due to improvement in the battery technology and declining battery prices. On the basis of range, the market can be segmented into upto 150 miles, 151–250 miles, 251–500 miles and above 500 miles. Due to increasing demand for long-haul trucks, above 500 miles segment is expected to account for significant market share during the forecast period. ln terms of application, the market can be bifurcated into logistics, mining and construction. Logistics is the major segment in the market, owing to growing demand for freight and expanding logistics industry.

Electric truck market in Asia-Pacific is registering growth, on account of increasing awareness pertaining to carbon emissions. In terms of regional analysis, the market for electric truck has been segmented into China, India, Japan, Indonesia, Australia, New Zealand and South Korea. China accounts for the largest share in the region’s electric truck market due to rapid urbanization, industrialization and government support for the adoption of eco-friendly vehicles.

Major companies operating in Asia-Pacific electric truck market recorded high sales volume in the 2018 financial year and the trend is likely to continue during the forecast period. List of major players operating in the region include 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. Key players operating in the market are investing in innovations to earn sound returns on investments. Moreover, strategic moves such as mergers and collaborations are also helping the key players to magnify their customer base and expand sales & distribution networks. In 2018, Volvo launched its first all-electric truck with upto 300 km of range.

Years considered for this report:

Historical Years: 2014-2017

Base Year: 2018

Estimated Year: 2019

Forecast Period: 2020-2024

Objective of the Study:

  • To analyze and forecast Asia-Pacific electric truck market size. 
  • To classify and forecast Asia-Pacific electric truck market based on vehicle type, type, range, application and country.
  • To identify drivers and challenges for Asia-Pacific electric truck market.
  • To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in Asia-Pacific electric truck market.
  • To conduct pricing analysis for Asia-Pacific electric truck market.
  • To identify and analyze the profile of leading players operating in Asia-Pacific electric truck market.

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Some of the leading players in Asia-Pacific electric truck market include 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.

TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of leading manufacturers across the region. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the product offerings, distribution channels and presence of all major players operating in electric truck market in Asia-Pacific.

TechSci Research calculated Asia-Pacific electric truck market size using a bottom-up approach, where data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.

Key Target Audience:

  • Electric truck manufacturers, suppliers, distributors and other stakeholders
  • Electric truck component manufacturers
  • Government bodies such as regulating authorities and policy makers
  • Organizations, forums and alliances related to electric truck market
  • Market research and consulting firms

The study is useful in providing answers to several critical questions that are important for industry stakeholders such as electric truck manufacturers, suppliers, distributors and other stakeholders. The report would enable the stakeholders in strategizing investments and capitalizing on emerging market opportunities.

Report Scope:

In this report, Asia-Pacific electric truck market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

  • Market, by Vehicle Type:
    • Light Duty Truck (LDT)
    • Medium Duty Truck (MDT)
    • Heavy Duty Truck (HDT)
  • Market, by Type:
    • Battery Electric Vehicle (BEV)
    • Hybrid Electric Vehicle (HEV)
    • Plug-In Hybrid Electric Vehicle (PHEV)
    • Fuel-Cell Electric Vehicle (FCEV)
  • Market, by Range:
    • Upto 150 Miles
    • 151–250 Miles
    • 251–500 Miles
    • Above 500 Miles
  • Market, by Application:
    • Logistics
    • Mining
    • Construction
  • Market, by Country:
    • China
    • India
    • Japan
    • Indonesia
    • Australia
    • New Zealand
    • South Korea

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Asia-Pacific electric truck market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

In case you don’t find what you are looking for, please get in touch with our custom research team at

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