China Electric Truck Market Overview
Base Year: 2023
Historical Years: 2018-2023
Forecast Years: 2024-2032
Market Growth Rate: 23.26% (2024-2032)
An electric truck is a vehicle powered by electricity rather than traditional gasoline or diesel fuel. According to the latest report by IMARC Group, The China electric truck market size reached USD 2.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach USD 15.6 Billion by 2032, exhibiting a growth rate (CAGR) of 23.26% during 2024-2032.
China Electric Truck Industry Trends and Drivers:
The China electric truck market is expanding rapidly, owing to the attempts of the country to lower carbon emissions and promote cleaner transportation options. Besides this, the Chinese government bodies have increased the demand for electric trucks by enacting stringent emission laws and offering subsidies to stimulate the use of electric vehicles (EVs). In line with these factors, the rapid growth of the e-commerce and logistics industries is also contributing to the rising need for electric trucks to support last-mile deliveries and reduce pollution in urban areas, further propelling the China electric truck market. Moreover, the expansion of electric vehicle charging infrastructure across China is facilitating the transition to electric trucks by improving accessibility and reducing range anxiety for operators.
In addition to government support, technological advancements are driving the China electric truck market. Meanwhile, electric trucks are becoming more efficient with longer driving ranges and faster charging times, making them a viable alternative to diesel-powered vehicles. In line with these factors, innovations in battery technology, such as the development of lithium-ion and solid-state batteries, are enhancing the performance of electric trucks and lowering their operational costs. Another key trend is the growing demand for autonomous and connected electric trucks, which are expected to improve efficiency in the logistics sector. Apart from this, as more manufacturers and startups enter the market with competitive offerings, the market is anticipated to witness substantial expansion. Consequently, the convergence of these factors is expected to propel the growth of the China electric truck market over the forecasted period.
Download sample copy of the Report: https://www.imarcgroup.com/china-electric-truck-market/requestsample
China Electric Truck Industry Segmentation:
The report has segmented the market into the following categories:
Breakup by Vehicle Type:
- Light-duty Truck
- Medium-duty Truck
- Heavy-duty Truck
Breakup by Propulsion:
- Battery Electric Truck
- Hybrid Electric Truck
- Plug-in Hybrid Electric Truck
- Fuel Cell Electric Truck
Breakup by Range:
- 0-150 Miles
- 151-300 Miles
- Above 300 Miles
Breakup by Application:
- Logistics
- Municipal
- Construction
- Mining
- Others
Breakup by Region:
- Guangdong
- Jiangsu
- Shandong
- Zhejiang
- Henan
- Others
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Key highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Strategic Recommendations
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us:
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
Contact Us:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145
