Dublin, Jan. 28, 2024 (GLOBE NEWSWIRE) -- The "Asia Pacific Electric Truck Market Competition Forecast & Opportunities, 2028" report has been added to ResearchAndMarkets.com's offering.
The Asia Pacific region is witnessing a surge in the adoption of electric trucks, spurred by advancements in electric vehicle (EV) technologies and a thriving e-commerce sector. Market research indicates that the electric truck market in this region is on a robust upward trajectory through to 2028. The increased sensitivity towards environmental issues, coupled with favorable government subsidies and policies, is significantly contributing to the market's expansion.
The transition from diesel to electric trucks offers a plethora of benefits that extend beyond environmental factors. These vehicles boast quieter operation, less vibration, and expedited acceleration, enhancing the efficiency of urban deliveries. The promise of lower running costs due to better vehicle range equally positions electric trucks as economically beneficial in the long run.
Factors Influencing the Electric Truck Market Growth
- Technological advances in battery systems, such as lithium-ion and sodium-ion batteries, are propelling the development of high-performance electric trucks.
- The growing need for sustainable and cost-effective logistics solutions within the burgeoning e-commerce industry is driving the demand for electric trucks.
- Governments across the Asia Pacific region are providing incentives to accelerate the adoption of electric vehicles, including trucks, to curb pollution levels and promote eco-friendly transportation.
Solid-state batteries and revolutionary designs, like blade batteries, are further pushing the capabilities and appeal of electric trucks. The increase in medium- and heavy-duty trucks, aligned with the escalating pressure for zero-emission vehicles, has led to a keen interest from fleet managers and truck manufacturers alike in the electric truck industry.
Market Segmentation Insights
Analysis of the Asia Pacific Electric Truck market showcases segmentation by vehicle type, including light-, medium-, and heavy-duty trucks. Different fuel types have also been considered, such as Battery Electric Vehicles (BEV), Hybrid Electric Vehicles (HEV), Plug-in Hybrid Electric Vehicles (PHEV), and Fuel Cell Electric Vehicles (FCEV). Furthermore, the market study evaluates the range and application sectors, where electric trucks are making significant inroads, covering domains from wholesale and retail to construction and mining industries.
The Asia Pacific Electric Truck market landscape presents a competitive scene, with major players spanning across the region, including countries like China, Japan, South Korea, and Australia. These companies are distinguishing themselves through strategic innovations and an increased focus on creating electric truck models that meet diverse application demands.
A selection of companies mentioned in this report includes
- 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
- Foton Motor Inc.
For more information about this report visit https://www.researchandmarkets.com/r/h6b4jm
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