Electric truck is an electric vehicle motorized with batteries that is specially designed to deliver cargo. Lithium ion batteries are commonly used in these types of vehicles. Electric vehicles are an ideal alternative to the traditional trucks including the benefit of creating no pollution. Owing to higher efficiency of these vehicles, the running costs are expected to be comparatively less. They are significantly gaining popularity on a large scale due to their efficiency and battery life.
Advancements in battery technologies and electric powertrains are the major factors driving electric truck market growth. Several technological advancements in electric trucks are making them more efficient & high powered while increasing the distance covered in single charging, which makes them more desirable and convenient for logistic applications. For instance, technological advancements in Li-ion batteries makes batteries lightweight, capable of storing more power, and increases their lifespan as compared to conventional lead-acid & valve-regulated lead-acid batteries. The increasing demand for fuel-efficient and zero-emission vehicles in logistics and the growing interest of shipping companies, such as UPS and Amazon, in electric trucks is also propelling the growth of this market.
Major Key Players of the Electric Truck Market are:
Orange EV, Tesla, HINO MOTORS SALES U.S.A., GOUPIL, IVECO, Cummins Inc., BYD Motors Inc., Daimler AG, Nikola Corporation, and AB Volvo, among others.
Read More @ http://www.sbwire.com/press-releases/electric-truck-market-prospects-outlook-2019-2030-and-top-key-players-orange-ev-tesla-hino-motors-sales-1280974.htm
Advancements in battery technologies and electric powertrains are the major factors driving electric truck market growth. Several technological advancements in electric trucks are making them more efficient & high powered while increasing the distance covered in single charging, which makes them more desirable and convenient for logistic applications. For instance, technological advancements in Li-ion batteries makes batteries lightweight, capable of storing more power, and increases their lifespan as compared to conventional lead-acid & valve-regulated lead-acid batteries. The increasing demand for fuel-efficient and zero-emission vehicles in logistics and the growing interest of shipping companies, such as UPS and Amazon, in electric trucks is also propelling the growth of this market.
Major Key Players of the Electric Truck Market are:
Orange EV, Tesla, HINO MOTORS SALES U.S.A., GOUPIL, IVECO, Cummins Inc., BYD Motors Inc., Daimler AG, Nikola Corporation, and AB Volvo, among others.
Read More @ http://www.sbwire.com/press-releases/electric-truck-market-prospects-outlook-2019-2030-and-top-key-players-orange-ev-tesla-hino-motors-sales-1280974.htm
The adoption of electric trucks has witnessed a significant boost in the past few years. With growing environmental concerns, governments are enforcing stringent emission regulations on diesel-powered trucks. As a result, the manufacturing cost of diesel-powered trucks is expected to increase with an increase in R&D expenditure and betterment of exhaust systems in these trucks. With the enactment of Euro-VI emissions for heavy-duty vehicles, the manufacturing cost of commercial vehicles has increased to match these norms. This, in turn, is expected to drive the demand for electric trucks globally. Several prominent players, new entries, and existing truck manufacturers are investing heavily in the development of electric trucks to overcome the stringent environmental regulations worldwide.
Although the electric truck market has tremendous opportunities, inadequate charging infrastructure stands to be a major challenge. Moreover, risks associated with the adoption of electric trucks, such as consumer awareness and higher prices, when compared with diesel-powered trucks, may hinder market growth during the forecast period.
Major Types of Electric Truck Market covered are:
Battery Electric Truck
Plug-in Hybrid Truck
Hybrid Truck, and Fuel Cell Electric Truck
Major Applications of Electric Truck Market covered are:
Logistic
Municipal
Although the electric truck market has tremendous opportunities, inadequate charging infrastructure stands to be a major challenge. Moreover, risks associated with the adoption of electric trucks, such as consumer awareness and higher prices, when compared with diesel-powered trucks, may hinder market growth during the forecast period.
Major Types of Electric Truck Market covered are:
Battery Electric Truck
Plug-in Hybrid Truck
Hybrid Truck, and Fuel Cell Electric Truck
Major Applications of Electric Truck Market covered are:
Logistic
Municipal
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