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Top Companies in the Europe Medium & Heavy Duty Electric Trucks Industry – Market Leaders: Volvo Group, Renault Trucks
Top Companies in the Europe Medium & Heavy Duty Electric Trucks Industry – Market Leaders: Volvo Group, Renault Trucks

Executive Summery

This report presents a detailed overview of the Europe Medium & Heavy Duty Electric Trucks Market, highlighting key insights into its market size, share, and growth during the forecast period, i.e., 2023-28. It explores emerging trends, competitive dynamics, and the core drivers reshaping the industry. Backed by solid data and expert analysis, the study offers segment-wise insights and reliable forecasts to guide strategic decisions. With comprehensive market analysis and forward-looking perspectives, this report serves as a practical tool for stakeholders navigating change. Whether you're an investor, policymaker, or business leader, this research helps you stay ahead in the fast-evolving Europe Medium & Heavy Duty Electric Trucks industry landscape.

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Europe Medium & Heavy Duty Electric Trucks Market Statistics and Key Highlights

The Europe Medium & Heavy Duty Electric Trucks market is projected to grow at a CAGR of around 40% during the forecast period, i.e., 2023-28.

  • Europe Medium & Heavy Duty Electric Trucks market shows steady growth
  • Market size expanding due to rising industry demand
  • Competitive landscape driven by tech and innovation
  • Detailed segment-wise and geography wise share analysis
  • Forecast reveals strong trends shaping future outlook

Key Player- Emerging Europe Medium & Heavy Duty Electric Trucks Companies

  • Volvo Group
  • Renault Trucks
  • Scania AB
  • Daimler
  • MAN trucks
  • Tevva Motors Limited
  • Tesla Motors Inc. trucks
  • IVECO SpA
  • E-Force One AG
  • DAF Trucks NV
  • Others

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Key Driver:

The sales of medium and heavy duty trucks vehicles have been growing steadily in Europe as more & more emission-related norms & regulations are being implemented by governments & the European Union in order to reduce the impact of global warming & greenhouse effect. In 2022, the European Union presented the new Euro 7 standards for ensuring cleaner vehicles on roads and improved air quality. These norms extremely focus on lowering harmful gasses like carbon monoxide, hydrocarbons, nitrogen oxides, etc.

In addition, various countries like Portugal, Finland, & Denmark, among others, have set their targets to phase-out conventional fuel-based trucks by 2040, which would result in a strong demand for electric trucks in the coming years. Hence, OEMs like Volvo, Renault, MAN, & Scania are increasing their production capacities in order to cater to the evolving consumer demands, thereby driving the Europe Medium & Heavy Duty Electric Trucks Market.

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Europe Medium & Heavy Duty Electric Trucks Market Segmentation

By Battery Capacity

  • 50-250 KWH
  • Above 250 KWH

By Battery Type

  • Lithium-Nickle-Manganese-Cobalt Oxide
  • Lithium-Iron-Phosphate
  • Others (Lead-Acid Batteries, Ultracapacitors, etc.)

By Propulsion Type

  • Battery Electric Truck (BET)
  • Plug-in Hybrid Electric Truck (PHET)
  • Fuel Cell Electric Truck (FCET)

By Level of Automation

  • Level 1
  • Level 2
  • Level 3
  • Level 4 & 5

By Range

  • Up to 200 miles
  • Above 200 miles

Among both, above 200-mile electric trucks are witnessing higher in Europe, mainly for inter-state & inter-city cargo deliveries that incur long distances.

By Application

  • Long Haul Transportation
  • Field Services
  • Distribution Services
  • Others (Last Mile Delivery, Refuse Services, etc.)

By Country

  • Germany
  • The UK
  • France
  • Italy
  • Spain
  • Rest of the Europe

Germany held a remarkable share in the Europe Medium & Heavy Duty Electric Trucks market due to the rising research & development for electrifying the automotive sector in the country. 

Reasons to Buy This Report

  1. Gain comprehensive insights into current market trends and dynamics.
  2. Equip your business with data-driven strategies for informed decisions.
  3. Identify lucrative market opportunities and strategic growth areas.
  4. Analyze competitors to enhance your positioning in the market landscape.
  5. Understand geographical trends across diverse markets for better expansion strategies.

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Top Companies in the Europe Medium & Heavy Duty Electric Trucks Industry – Market Leaders: Volvo Group, Renault Trucks
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