1 Global All-electric Trucks Market Insight Analysis
The global all-electric trucks market will be valued at USD 4,881.87 million in 2025, with a CAGR of 74.43% from 2025 to 2033.
An electric truck is an electric vehicle powered by batteries designed to transport cargo, carry specialized payloads, or perform other utilitarian work. All-electric Trucks refer to trucks that are powered by the onboard power supply and driven by motors to drive wheels and comply with the requirements of road traffic and safety regulations.
Electric trucks have serviced niche applications for over a hundred years, typically using lead-acid batteries, but the rapid development of lighter and more energy-dense battery chemistries in the twenty-first century has broadened the range of applicability of electric propulsion to trucks in many more roles. Electric trucks reduce noise and pollution, relative to internal-combustion trucks. Due to the high efficiency and low component counts of electric power trains, the costs of owning and operating electric trucks are dramatically lower than their predecessors.
Figure Global All-electric Trucks Market Size (M USD) and CAGR (2025-2033)
2 All-electric Trucks Market Growth Drivers and Restraints
Policy and environmental pressure drive transformation
Countries around the world continue to pay more attention to environmental protection, and many policies restrict the use of fuel vehicles. For example, Europe has established 274 low-emission zones, and China, the United States and other countries have implemented subsidies and carbon emission standards for new energy vehicles. Policies force logistics, municipal and other industries to replace zero-emission electric trucks, directly stimulating market demand. In addition, the EU’s carbon tariff policy and various countries’ “carbon neutrality” goals (such as China’s 2060 carbon neutrality commitment) further accelerate industry transformation.
Technological progress and cost reduction
Battery technology breakthroughs: lithium battery energy density has increased and costs have decreased (battery costs in 2020 have decreased by 85% compared to 2010), which has increased the range of electric trucks from less than 200 kilometers in the early days to more than 480 kilometers for heavy trucks (such as Cummins Aeos models).
Mature industrial chain: The upstream raw material (such as lithium, steel) supply system is perfect, and companies such as CATL and BYD have achieved large-scale battery production, reducing the cost of vehicle manufacturing. At the same time, the improvement of motor efficiency and the optimization of intelligent control systems have improved vehicle operating efficiency.
Downstream demand continues to grow
Logistics industry expansion: The rise of e-commerce and global trade drive logistics demand. In 2020, the global logistics market will reach 8.6 trillion US dollars. Electric trucks have become the first choice for logistics companies due to their low operating costs (30%-50% lower cost per kilometer than fuel vehicles). For example, Amazon, DHL and other companies purchase electric trucks on a large scale to reduce their carbon footprint.
Municipal and public service needs: Municipal vehicles (such as sweepers and garbage trucks) have high requirements for low noise and zero emissions. Many European cities plan to fully electrify their municipal fleets by 2030, driving the growth of the dedicated electric truck market.
Economic effects and long-term benefits
Although electric trucks have a high initial purchase cost, they have significant cost advantages throughout their life cycle. Taking light electric trucks as an example, the operating cost can save about 20,000 US dollars (including fuel and maintenance costs) in 5 years. In addition, companies can enhance their brand image and attract customers with strong environmental awareness by using electric trucks, thus gaining long-term competitive advantages.
Technical bottlenecks and insufficient infrastructure
Range and charging limitations: Heavy trucks still lag behind fuel vehicles in range, and long-distance transportation requires frequent charging, while global fast charging station coverage is low (especially in developing countries). For example, only 5% of truck charging stations in the United States cover long-distance routes.
Battery weight and energy density: Heavy trucks need to carry a large number of batteries, resulting in reduced payload, which restricts their application in heavy freight. Although hydrogen fuel cells have advantages, their current high costs and scarce hydrogen refueling stations have formed alternative competition.
High initial investment and supply chain risks
Electric trucks are usually 30%-50% higher than fuel vehicles, and small and medium-sized enterprises are under great purchasing pressure. In addition, the fragility of the global supply chain has become more prominent after the epidemic, and price fluctuations of raw materials such as lithium and cobalt (such as the lithium price increase of more than 400% in 2022) may push up costs and affect the speed of market expansion.
Unbalanced regional market development
Developed regions dominate: In 2020, the Asia-Pacific region accounted for 83.75% of the global market share, but it was mainly concentrated in China, Japan and other countries; South America, Africa and other regions had a market penetration rate of less than 2% due to insufficient economic level and policy support.
Infrastructure gap: Europe and the United States have built a relatively complete charging network, while infrastructure construction in Southeast Asia, the Middle East and other places lags behind, restricting local market growth.
Technology substitution risks and industry competition
Hydrogen fuel cell trucks have advantages in endurance and hydrogen refueling speed in long-distance transportation. Toyota, Hyundai and other companies have increased their R&D investment, which may divert the demand for heavy trucks. In addition, traditional car companies (such as Daimler and Volvo) are accelerating their electrification transformation, intensifying industry competition and squeezing the survival space of small and medium-sized enterprises.
3 Technological Innovations in the All-electric Trucks Market
Diversified breakthroughs in battery technology
Solid-state battery research and development: Toyota, QuantumScape and other companies are accelerating the commercialization of solid-state batteries. It is expected that the energy density will reach 500Wh/kg by 2030, which is twice as much as the existing lithium batteries, solving the bottlenecks of battery life and charging speed.
Popularization of battery swapping mode: China National Heavy Duty Truck Group, NIO and others have launched standardized battery swapping stations, which can complete battery replacement within 3 minutes and reduce users’ dependence on charging facilities. For example, NIO’s battery swapping stations have covered major highways in China.
Intelligent and networked upgrades
Autonomous driving integration: Waymo, TuSimple and other companies are testing electric truck autonomous driving technology, improving transportation safety and efficiency through lidar and AI algorithms. It is expected that L4 autonomous driving electric trucks will enter the commercialization stage in 2025.
Internet of Vehicles and Remote Management: Tesla Semi, BYD 8Y and other models are equipped with intelligent monitoring systems to optimize energy consumption in real time, predict maintenance needs, and reduce fleet operating costs.
Exploration of alternative technology routes
Hydrogen fuel cells: Nikola, Hyundai H2X and other companies have developed hydrogen fuel electric trucks with a range of over 800 kilometers, suitable for long-distance heavy-duty transportation. Japan and Germany have started the construction of hydrogen energy corridors with supporting hydrogen refueling station networks.
Hybrid technology transition: Some companies have launched plug-in hybrid trucks (such as Renault Master Z.E.), which take into account both endurance and emission reduction needs and are suitable for areas with imperfect infrastructure.
Expansion and integration of leading companies
Horizontal mergers and acquisitions: Traditional car companies quickly enter the market by acquiring electric truck startups. For example, Volvo acquired the US electric truck company Vera to strengthen its layout of autonomous driving and electrification; Volkswagen Group invested in Traton SE to integrate commercial vehicle resources.
Vertical integration: Battery companies extend upstream, such as CATL’s investment in Tianhua Super Clean (lithium mine) to ensure the supply of raw materials; downstream car companies cooperate with logistics companies, such as Amazon’s investment in Rivian and ordering 100,000 electric trucks.
Localization layout in emerging markets
Chinese companies go overseas: BYD builds factories in Brazil and Hungary to circumvent trade barriers and meet local needs; Yutong Heavy Industry exports electric sanitation vehicles to Southeast Asia to seize the municipal market.
Cooperation between European and American companies: Daimler and Volvo jointly established cellcentric to jointly develop hydrogen fuel cell technology, reduce R&D costs and accelerate commercialization.
Startup financing and competition
SPAC listing boom: Lordstown Motors, Fisker and others raise funds through special purpose acquisition companies for factory construction and technology research and development. However, some companies face the risk of delisting due to delayed delivery (such as Lordstown), and the industry reshuffle is intensifying.
Cross-border entrants: Technology companies (such as Baidu and Huawei) cooperate with car companies to provide autonomous driving solutions and reshape the industry value chain.
4 Global All-electric Trucks Market Size by Type
By 2025, the Light & Medium-duty Truck segment is projected to dominate the market, with an estimated revenue of 3,964.21 million USD. This segment’s growth is largely attributed to its versatility and widespread application in urban settings, where lighter and more maneuverable trucks are preferable. The market share for Light & Medium-duty Trucks in 2025 is expected to be 81.20%, reflecting its critical role in driving the overall market growth.
Conversely, the Heavy-duty Truck segment, while smaller in comparison, is anticipated to contribute 917.65 million USD to the market revenue by 2025. This segment is crucial for long-haul transportation and heavy cargo movement. Despite its smaller market share of 18.80% in 2025, the Heavy-duty Truck segment is expected to see significant advancements in battery technology and infrastructure support, which will gradually increase its adoption rate.
Table Global All-electric Trucks Market Size and Share by Type in 2025
Type | Market Size (M USD) 2025 | Market Share 2025 |
|---|---|---|
Light & Medium-duty Truck | 3964.21 | 81.20% |
Heavy-duty Truck | 917.65 | 18.80% |
5 Global All-electric Trucks Market Size by Application
The logistics segment is the dominant force in the global full – electric truck market. In 2025, the market revenue for logistics – related full – electric trucks is expected to be 3716.57 million USD, accounting for 76.13% of the total market value. This significant share can be attributed to several factors. With the booming e – commerce industry and the increasing emphasis on sustainable logistics, many logistics companies are actively adopting electric trucks. These trucks offer lower operating costs in the long run, with reduced fuel expenses and maintenance costs compared to traditional diesel – powered trucks. Moreover, major logistics players such as Amazon and DHL have set ambitious sustainability goals, which further drives the demand for electric trucks in this segment.
The municipal segment also plays an important role in the full – electric truck market. In 2025, the market revenue for municipal full – electric trucks is estimated to be 808.44 million USD, making up 16.56% of the total market. Municipalities around the world are increasingly using electric trucks for various purposes, including garbage collection, street cleaning, and public transportation. These vehicles help cities reduce air pollution and noise levels, which is in line with the growing environmental awareness in urban areas. Additionally, government incentives and regulations often encourage municipalities to switch to electric vehicles, further boosting the demand in this segment.
Table Global All-electric Trucks Market Size and Share by Application in 2025
Application | Market Size (M USD) 2025 | Market Share 2025 |
|---|---|---|
Logistics | 3716.57 | 76.13% |
Municipal | 808.44 | 16.56% |
Others | 356.86 | 7.31% |
6 Global All-electric Trucks Market Size by Region
In North America, the market is projected to grow from 33.89 million USD in 2021 to a substantial 530.66 million USD by 2025. This region has been gradually adopting electric vehicles due to government incentives and a growing consumer awareness of environmental issues. The United States, in particular, is expected to play a significant role in driving this growth, with increasing investments in electric vehicle infrastructure and technology.
Europe is another key region in the All-electric Trucks market, with an expected revenue of 754.25 million USD by 2025. The European Union’s aggressive stance on reducing carbon emissions and promoting electric mobility has created a favorable environment for the growth of this market. Countries like Germany, France, and the Netherlands are leading the way with supportive policies and significant investments in electric vehicle technology.
The Asia Pacific region is projected to be the largest market for All-electric Trucks by 2025, with an expected revenue of 3,449.53 million USD. This region’s growth is driven by China’s massive push towards electric vehicles, including trucks, as part of its efforts to combat air pollution and reduce reliance on fossil fuels. Additionally, other countries in the region, such as Japan and South Korea, are also investing heavily in electric vehicle technology, contributing to the overall growth.
South America is expected to see a modest but steady growth, reaching 84.94 million USD by 2025. Brazil and Argentina are key players in this region, with increasing government support for electric vehicles and a growing demand for sustainable transportation solutions.
The Middle East & Africa region, while currently a smaller market, is projected to grow to 62.49 million USD by 2025. The United Arab Emirates and Saudi Arabia are leading the charge in this region, with ambitious plans to reduce carbon emissions and invest in renewable energy and electric vehicles.
Figure Global All-electric Trucks Market Size (M USD) by Region in 2025
7 Global All-electric Trucks Market Analysis by Major Players
Dongfeng
Company Profile: Dongfeng Motor Group Co., Ltd., established in 1969 and headquartered in China, is one of the largest automobile companies in the country. With a strong presence worldwide, Dongfeng has established itself as a key player in the commercial vehicle sector.
Business Overview: Dongfeng’s business spans the entire spectrum of commercial vehicles, passenger vehicles, auto assemblies, parts and components, machinery and equipment, and other automobile-related products and services. The company is committed to innovation and has been at the forefront of developing electric vehicles, including all-electric trucks, to meet the growing demand for sustainable transportation solutions.
Product Offered: Dongfeng offers a range of all-electric trucks designed for various applications. One of their notable products is the Chenglong New Energy Light Truck L2EV, which features an optimized power matching system, high battery pack energy conversion efficiency, and a long cruising range. The truck’s modular and lightweight design ensures high transportation efficiency while maintaining carrying capacity.
BYD
Company Profile: BYD Co. Ltd., founded in 1995 and based in China, has grown into a major manufacturer of automobiles, including electric and hybrid cars, buses, and trucks. The company also produces battery-powered bicycles, forklifts, solar panels, and rechargeable batteries.
Business Overview: BYD has two major subsidiaries, BYD Automobile and BYD Electronic. The company has expanded its operations globally, focusing on sustainable energy solutions. BYD’s commitment to innovation has made it a leader in the electric vehicle market, with a strong emphasis on research and development.
Product Offered: BYD’s 8Y MODEL is a standout product in the all-electric truck segment. It is the world’s first commercially available all-electric class 8 terminal tractor, featuring state-of-the-art batteries, controls, and motors designed and built by BYD. The 8Y offers superior performance, endurance, and reliability, with software that optimizes power and torque for heavy operations.
Alke XT
Company Profile: Alke XT, established in 1992 and headquartered in Italy, is a manufacturer of trucks, electric vehicles, and diesel engines. The company is based in Padua and has a market distribution that spans worldwide.
Business Overview: Alke XT specializes in producing type-approved electric road vehicles used for transport, logistics, and other multi-functional or special operations. The company is known for its flexibility and efficiency, catering to a wide range of operational needs with its electric vehicle offerings.
Product Offered: Alke XT’s electric truck, part of the ATX range, is designed for urban operations. It features compact dimensions for easy access to confined areas and a load capacity of 1.630 kg, making it suitable for various tasks. The truck is practical, silent, and ecological, with no harmful emissions. It offers high performance and low running costs, making it an ideal choice for many municipal and logistics applications.