As the air pollutions
levels around the world are increasing, governments of various countries are
imposing various policies and taking initiatives for reducing carbon dioxide
emissions. The transportation industry is among the key contributors to the growing
greenhouse gas emissions, most of the steps are taken in regard of vehicles,
for example, the introduction of electric vehicles. Approximately, 200 cities
in the European region have low-emission zones and access
regulations, with Italy, Germany, and the U.K. at top, at the present time. Due
to this kind of regulatory pressure, the sales of electric vehicles have risen
significantly over the past few years.
Owing to all these
factors, the demand for electric trucks is also expected to increase considerably
in the near future. According to a report by P&S Intelligence, the
global electric
truck market revenue is predicted to reach 1,508.1 thousand
units by 2025 and is expected to progress at an 18.5% CAGR during the forecast
period. Electric trucks are of different types in terms of propulsion, namely
fuel cell electric vehicles, battery electric vehicles (BEV), plug-in hybrid
electric vehicles, and hybrid electric vehicles, among which, the demand for
BEVs is projected to rise substantially in the coming years.
Request to Get the
Sample Report@ https://www.psmarketresearch.com/market-analysis/electric-truck-market/report-sample
Geographically, the
Asia-Pacific region has emerged as the largest electric truck
market in the past and is further is expected to create the largest demand
for these trucks in the near future as well. As is the case with most electric
vehicles’ domain, China has been creating the largest demand for electric
trucks within the region. This can be owing to the national
alternative-fuel-vehicle replacement sales target, favorable government
subsidies, and municipal air quality targets. Other than this, the demand for
electric trucks is also expected to rise in other regions as well in the coming
years because of heavy investments by manufacturers.
In conclusion, the demand for electric trucks has been increasing due to government efforts for decreasing carbon dioxide emissions.
