Europe Electric Trucks Market, Size, Segment and Growth by Forecast Period: 2023-2028

 The Europe electric trucks market is projected to grow from US$ 1,937.33 million in 2022 to US$ 10,949.98 million by 2028, at a robust CAGR of 33.5% during the forecast period.

In recent years, government initiatives have increasingly promoted the adoption of advanced transportation technologies, including the electrification of both light and heavy vehicles. A key driver behind this shift is regulatory pressure to reduce carbon emissions and enhance fuel efficiency, particularly in heavy-duty vehicles such as tractors and agricultural machinery. Electrification in the automotive sector is expected to significantly improve urban air quality by minimizing vehicular emissions.

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In addition, growing corporate social responsibility (CSR) initiatives are prompting fleet operators and large companies to adopt environmentally sustainable practices. Electric trucks with battery ranges of 150–300 km are especially suited for urban operations, where air quality concerns are most pressing and stricter emissions standards are being enforced.

According to the International Energy Agency (IEA), governments collectively invested US$ 14 billion in 2020 in the form of direct purchase incentives and tax exemptions for electric vehicles. In response to the economic impact of the COVID-19 pandemic, several governments also introduced stimulus packages that included EV-friendly incentives, further boosting the sector’s growth.

Moreover, ongoing innovation by manufacturers—such as introducing new features and advanced technologies—is expected to help vendors attract new customers and expand into emerging markets. These factors collectively contribute to the strong growth outlook for the Europe electric trucks market over the coming years.

Europe Electric Trucks Strategic Insights

Strategic insights for the Europe Electric Trucks provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

key company profiles

  AB Volvo

  BYD Company Ltd.

  Daimler AG

  FAW Group Co., Ltd

  Navistar, Inc.

  PACCAR Inc.

  Proterra Inc.

  Rivian

  Scania

  Tesla, Inc.

Europe Electric Trucks Market – Regional Insights
The regional scope of the Europe electric trucks market highlights the specific areas where businesses operate and compete. Understanding regional differences—such as consumer preferences for plug types or battery range, economic conditions, and regulatory requirements—is essential for creating tailored market strategies. Companies can boost their presence by identifying underserved regions or customizing their offerings to align with local needs. A well-defined geographic focus enables more efficient resource allocation, precise marketing efforts, and stronger positioning against regional competitors, ultimately fueling growth in key target markets.

Europe Electric Trucks Market Segmentation

The Europe electric trucks market is categorized based on propulsion type, vehicle type, driving range, level of automation, and country.

  • By Propulsion Type:
    The market is segmented into Battery Electric Vehicles (BEV), Fuel Cell Vehicles (FCV), and Plug-in Hybrid Electric Vehicles (PHEV). Among these, the BEV segment held the largest market share in 2022 and is projected to register the highest growth rate throughout the forecast period.
  • By Vehicle Type:
    The market is bifurcated into Light Commercial Vehicles (LCVs) and Medium & Heavy Commercial Vehicles (M&HCVs). LCVs dominated the market in 2022 and are anticipated to grow at the fastest pace during the forecast period.
  • By Range:
    The market is segmented into electric trucks with a range of less than 200 miles and those with more than 200 miles. Trucks with a range of over 200 miles led the market in 2022 and are expected to remain the fastest-growing segment.
  • By Level of Automation:
    The market is divided into semi-autonomous and fully autonomous trucks. Fully autonomous trucks were the dominant segment in 2022 and are forecasted to grow at the highest rate during the coming years.
  • By Country:
    The regional analysis includes Germany, France, Italy, the UK, Russia, and the Rest of Europe.

Key Market Players:
Leading companies operating in the Europe electric trucks market include AB Volvo, BYD Company Ltd., Daimler AG, FAW Group Co., Ltd., Navistar, Inc., PACCAR Inc., Proterra Inc., Rivian, Scania, and Tesla, Inc.


About Us:
Business Market Insights is a market research platform that provides subscription service for industry and company reports. Our research team has extensive professional expertise in domains such as Electronics & Semiconductor; Aerospace & Dรฉfense; Automotive & Transportation; Energy & Power; Healthcare; Manufacturing & Construction; Food & Beverages; Chemicals & Materials; and Technology, Media, & Telecommunications

Author's Bio
Akshay
Senior Market Research Expert at Business Market Insights

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