Europe Electric Truck Market Overview:
Europe Electric Truck Market Size was valued at USD 1.1 Billion in 2022. The Europe Electric Truck market industry is projected to grow from USD 1.7 Billion in 2023 to USD 60.2 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 56.00% during the forecast period (2024 - 2032). The increasing urbanization and the rise of e-commerce are major market drivers in the European electric truck market. Electric trucks offer a sustainable solution for last-mile delivery in urban areas, where air quality regulations are stringent, and noise pollution is a concern.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Electric Truck Market Trends
Increasing urbanization and the rise of e-commerce are driving the market growth
Increasing urbanization and e-commerce drive the European electric truck market, particularly for last-mile delivery operations. As cities become more densely populated, traditional diesel trucks contribute to air pollution and congestion, posing environmental and public health concerns. Electric trucks offer a sustainable solution for last-mile delivery in urban areas, where air quality regulations are stringent, and noise pollution is a concern. Additionally, e-commerce has increased parcel deliveries, further exacerbating the need for clean and efficient transportation solutions. Electric trucks, with their zero-emission operation and quiet performance, are well-suited to meet the demands of last-mile delivery while addressing urban environmental challenges, making them increasingly attractive to fleet operators and logistics companies across Europe.
Growing public awareness of environmental issues and corporate sustainability goals are driving the Europe electric truck market by creating a demand for cleaner transportation solutions. As consumers become more environmentally conscious, they expect companies to prioritize sustainability throughout their operations, including their transportation fleets. Electric trucks offer a significant reduction in greenhouse gas emissions and noise pollution compared to traditional diesel trucks, aligning with both public expectations and corporate sustainability objectives. Moreover, companies are increasingly recognizing the economic benefits of electric trucks, including lower operating costs and potential savings from incentives and subsidies. Therefore, the combination of public pressure, corporate sustainability goals, and economic incentives is driving the adoption of electric trucks by fleet operators and logistics companies across Europe.
Europe Electric Truck Market Segment Insights:
Europe Electric Truck Propulsion Type Insights
The Europe Electric Truck market segmentation, based on propulsion type, includes BEV, PHEV, and FCEV. The BEV segment dominated the market. Battery Electric Vehicle (BEV) propulsion type has captured the largest market share in the Europe Electric Truck Market due to several factors. BEVs offer zero-emission transportation, aligning with stringent environmental regulations and corporate sustainability goals. Additionally, advancements in battery technology have improved the range and performance of BEVs, making them increasingly suitable for long-haul and heavy-duty applications. Furthermore, the simplicity of electric drivetrains and the availability of charging infrastructure contribute to the widespread adoption of BEVs among fleet operators and logistics companies in Europe.
Plug-in Hybrid Electric Vehicle (PHEV) propulsion type is experiencing the highest Compound Annual Growth Rate (CAGR) in the Europe Electric Truck Market due to its versatility and transitional appeal. PHEVs offer both electric and conventional propulsion systems, providing extended range and flexibility, making them suitable for a wide range of applications. Additionally, they address a range of anxiety concerns associated with pure electric vehicles while still offering significant emissions reductions and fuel savings, driving their adoption among fleet operators in Europe.
Europe Electric Truck Type Insights
The Europe Electric Truck market segmentation, based on type, includes Light-Duty Trucks, Medium-Duty Trucks, and Heavy-Duty Trucks. The Light-Duty Trucks category generated the most income. Light-duty trucks have captured the largest market share in the Europe Electric Truck Market due to their versatility and suitability for urban delivery and logistics operations. These trucks are widely used for last-mile delivery and urban distribution, where electric vehicles offer significant benefits such as reduced emissions, lower operating costs, and access to zero-emission zones. Additionally, advancements in battery technology have improved the range and performance of electric light-duty trucks, driving their adoption among fleet operators in Europe.
Medium-duty trucks are experiencing the highest Compound Annual Growth Rate (CAGR) in the Europe Electric Truck Market due to their versatility and increasing demand for electrified urban logistics and distribution. These trucks are well-suited for a wide range of applications, including urban delivery, construction, and municipal services, where electric propulsion offers significant benefits such as reduced emissions, lower operating costs, and compliance with environmental regulations. Additionally, advancements in battery technology and charging infrastructure are driving the adoption of electric medium-duty trucks among fleet operators in Europe.
Europe Electric Truck End User Insights
The Europe Electric Truck market segmentation, based on end user, includes Last Mile Delivery, Long Haul Transportation, Refuse Services, Field Services, and Distribution Services. The Last Mile Delivery category generated the most income. Last-mile delivery end users have captured the largest market share in the Europe Electric Truck Market due to the increasing demand for efficient and environmentally friendly urban delivery solutions. With the rise of e-commerce and online shopping, there is a growing need for fast and reliable last-mile delivery services in urban areas. Electric trucks offer an ideal solution for last-mile delivery operations, providing zero-emission transportation that meets stringent environmental regulations and addresses urban congestion and air quality concerns.
Long haul transportation end users are experiencing the highest Compound Annual Growth Rate (CAGR) in the Europe Electric Truck Market due to several factors. Advancements in battery technology have extended the range and improved the performance of electric trucks, making them increasingly viable for long-distance transportation. Additionally, the growing emphasis on sustainability and the need to reduce emissions in the transportation sector are driving the adoption of electric trucks for long haul applications, especially on major transportation routes.
Europe Electric Truck Range Insights
The Europe Electric Truck market segmentation, based on Range, includes Upto 200 Miles and Above 200 Miles. The Upto 200 Miles category generated the most income. The Up to 200 Miles range has captured the largest market share in the Europe Electric Truck Market due to its versatility and suitability for a wide range of applications. Many urban and regional delivery routes fall within this range, making electric trucks with up to 200 miles of range well-suited for last-mile delivery and short-haul transportation. Additionally, electric trucks with this range offer a balance between sufficient range and cost-effectiveness, driving their adoption among fleet operators in Europe.
The above 200-mile range is experiencing the highest Compound Annual Growth Rate (CAGR) in the European electric Truck Market due to increasing demand for electric trucks in long-haul transportation applications. As battery technology continues to advance, electric trucks with ranges exceeding 200 miles are becoming more feasible and cost-effective for long-distance operations. Additionally, the need to reduce emissions and comply with environmental regulations is driving the adoption of electric trucks with extended ranges among fleet operators in Europe.
Figure 1: Europe Electric Truck Market, by Range, 2023 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Electric Truck Battery Capacity Insights
The Europe Electric Truck market segmentation, based on battery capacity, includes <50 kWh, 50-250 kWh, and Above 250 kWh. The <50 kWh category generated the most income. The <50 kWh battery capacity has captured the largest market share in the Europe Electric Truck Market due to its suitability for light-duty and urban delivery applications. Trucks with smaller battery capacities are well-suited for short-range operations, such as last-mile delivery, where charging infrastructure is readily available. Additionally, electric trucks with <50 kWh battery capacity are often more affordable and have lower upfront costs, making them attractive options for fleet operators seeking to transition to electric vehicles.
The 50-250 kWh battery capacity range is experiencing the highest Compound Annual Growth Rate (CAGR) in the Europe Electric Truck Market due to its versatility and suitability for a wide range of applications. Trucks with battery capacities in this range offer sufficient energy storage for medium-duty and long-haul transportation, making them attractive options for fleet operators seeking to electrify their fleets while meeting the demands of various routes and operational requirements.
Europe Electric Truck GVWR Insights
The Europe Electric Truck market segmentation, based on GVWR, includes Upto 10,000 lbs, 10,001-26,000 lbs, and Above 26,001 lbs. The Upto 10,000 lbs category generated the most income. Trucks with a Gross Vehicle Weight Rating (GVWR) of up to 10,000 lbs have captured the largest market share in the Europe Electric Truck Market due to their versatility and suitability for light-duty applications such as urban delivery and municipal services. These trucks are well-suited for navigating narrow city streets and making frequent stops, making them ideal for last-mile delivery operations. Additionally, electric trucks in this weight class often have lower operating costs and are easier to integrate into existing fleets, driving their adoption among fleet operators in Europe.
The 10,001-26,000 lbs GVWR range is experiencing the highest Compound Annual Growth Rate (CAGR) in the Europe Electric Truck Market due to increasing demand for medium-duty trucks in urban delivery and regional transportation applications. Trucks in this weight class offer sufficient payload capacity for a wide range of cargo types while still being suitable for navigating urban streets and accessing delivery destinations. Additionally, advancements in battery technology have made electric trucks in this weight class more viable and cost-effective for fleet operators in Europe.
Europe Electric Truck Level of Automation Insights
The Europe Electric Truck market segmentation, based on the level of automation, includes Semi-Autonomous Truck and Autonomous Truck. The Semi-Autonomous Truck category generated the most income. Semi-autonomous trucks with a Level of Automation have captured the largest market share in the Europe Electric Truck Market due to their ability to enhance safety, efficiency, and driver comfort. These trucks offer advanced driver assistance systems such as adaptive cruise control, lane-keeping assistance, and automated braking, which improve overall fleet performance and reduce the workload on drivers. Additionally, semi-autonomous trucks pave the way for the gradual transition to fully autonomous vehicles, making them a preferred choice for fleet operators in Europe.
Autonomous trucks with a higher level of Automation are experiencing the highest Compound Annual Growth Rate (CAGR) in the European electric Truck Market due to advancements in technology and the potential for significant improvements in efficiency and safety. These trucks offer fully autonomous operation, reducing the need for human intervention and potentially lowering operating costs. As technology matures and regulatory frameworks evolve, fleet operators are increasingly exploring the adoption of autonomous electric trucks for long-haul transportation applications in Europe.
Europe Electric Truck Battery Type Insights
The Europe Electric Truck market segmentation, based on battery type, includes Lithium-Nickel-Manganese-Cobalt Oxide, Lithium-Iron-Phosphate, and Others. The Lithium-Nickel-Manganese-Cobalt Oxide category generated the most income. Lithium-Nickel-Manganese-Cobalt Oxide (NMC) battery type has captured the largest market share in the Europe Electric Truck Market due to its high energy density, long lifespan, and excellent performance characteristics. NMC batteries offer a balance between energy density, power output, and cost-effectiveness, making them suitable for heavy-duty applications like electric trucks. Additionally, advancements in NMC battery technology have improved energy storage capacity and charging efficiency, driving their adoption among fleet operators seeking reliable and high-performance battery solutions for electric trucks in Europe.
Lithium-Iron-Phosphate (LiFePO4) battery type is experiencing the highest Compound Annual Growth Rate (CAGR) in the Europe Electric Truck Market due to its safety, durability, and reliability. LiFePO4 batteries are known for their stable chemistry, which reduces the risk of thermal runaway and enhances safety, making them suitable for heavy-duty applications like electric trucks. Additionally, LiFePO4 batteries have a longer cycle life compared to other lithium-ion chemistries, providing consistent performance over the lifespan of the vehicle. As a result, fleet operators are increasingly adopting LiFePO4 batteries for their electric trucks in Europe.
Europe Electric Truck Country Insights
In the Europe Electric Truck Market, certain countries demonstrate dominance and leadership in electric truck adoption and deployment. Germany stands out as a leader, driven by its strong automotive industry and commitment to sustainability. Additionally, Nordic countries like Sweden and Norway have led the adoption of electric trucks due to their progressive policies, extensive charging infrastructure, and emphasis on clean transportation. The Netherlands is also a significant player, with initiatives to electrify transportation and reduce emissions in urban areas. Furthermore, France and the United Kingdom are emerging as key markets, with efforts to promote electric vehicle adoption and support infrastructure development. Overall, these countries contribute to Europe's leadership in electric truck deployment and sustainability initiatives.
Figure 2: Europe Electric Truck Market Share By Country 2023 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Electric Truck Key Market Players & Competitive Insights
Leading players such as Daimler, Volvo Group, and MAN Truck & Bus are actively investing in electric truck market developments and deployment. These companies are launching new electric truck models, expanding their charging infrastructure, and partnering with government agencies and logistics companies to promote electric vehicle adoption. Additionally, startups like Rivian and Arrival are disrupting the market with innovative electric truck designs and sustainable business models, driving competition and innovation in the European electric truck market.
Major players in the Europe Electric Truck market are attempting to increase market demand by investing in research and development operations, including Daimler AG, Volvo Group, MAN Truck & Bus, Scania AB, Renault Trucks, Iveco, Nikola Corporation, BYD Company Limited, DAF Trucks, Arrival Ltd., Rivian Automotive, FUSO, E-Trucks Europe, Tevva Motors Ltd., and Volta Trucks.
Key Companies in the Europe Electric Truck market include
- Daimler AG
- Volvo Group
- MAN Truck & Bus
- Scania AB
- Renault Trucks
- Iveco
- Nikola Corporation
- BYD Company Limited
- DAF Trucks
- Arrival Ltd.
Europe Electric Truck Industry Developments
June 2022: Scania, the Swedish commercial vehicle manufacturer, unveiled its latest regional long-haul electric truck, set for release in Europe in both rigid and tractor-trailer configurations. The truck boasts a rapid charging capability, fully charging in less than 90 minutes, significantly shorter than the mandatory 45-minute driver rest period for every 4.5 hours of driving in Europe, thanks to its 375-kW charging capacity. Both the Scania 45 R and S series trucks are equipped with a powerful 410 kW powertrain.
Europe Electric Truck Market Segmentation:
Europe Electric Truck Propulsion Type Outlook
Europe Electric Truck Type Outlook
- Light-Duty Trucks
- Medium-Duty Trucks
- Heavy-Duty Trucks
Europe Electric Truck End User Outlook
- Last Mile Delivery
- Long Haul Transportation
- Refuse Services
- Field Services
- Distribution Services
Europe Electric Truck Range Outlook
- Upto 200 Miles
- Above 200 Miles
Europe Electric Truck Battery Capacity Outlook
- <50 kWh
- 50-250 kWh
- Above 250 kWh
Europe Electric Truck GVWR Outlook
- Upto 10,000 lbs
- 10,001-26,000 lbs
- Above 26,001 lbs
Europe Electric Truck Level of Automation Outlook
- Semi-Autonomous Truck
- Autonomous Truck
Europe Electric Truck Battery Type Outlook
- Lithium-Nickel-Manganese-Cobalt Oxide
- Lithium-Iron-Phosphate
- Others
Europe Electric Truck Regional Outlook
Europe
- Germany
- France
- UK
- Italy
- Spain
- Sweden
- Denmark
- Luxembourg
- Norway
- Austria
- Rest of Europe
| Report Attribute/Metric |
Details |
| Market Size 2022 |
USD 1.1Â Billion |
| Market Size 2023 |
USD 1.7 Billion |
| Market Size 2032 |
USD 60.2 Billion |
| Compound Annual Growth Rate (CAGR) |
56.00% (2024-2032) |
| Base Year |
2023 |
| Market Forecast Period |
2024-2032 |
| Historical Data |
2019- 2022 |
| Market Forecast Units |
Value (USD Billion) |
| Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered |
Propulsion Type, Type, End User, Range, Battery Capacity, GVWR, Level of Automation, Battery Type and Region |
| Region Covered |
Europe |
| Countries Covered |
Germany, France, UK, Italy, Spain, Sweden, Denmark, Luxembourg, Norway, Austria and Rest of Europe |
| Key Companies Profiled |
Daimler AG, Volvo Group, MAN Truck & Bus, Scania AB, Renault Trucks, Iveco, Nikola Corporation, BYD Company Limited, DAF Trucks, and Arrival Ltd |
| Key Market Opportunities |
Growing growth of e-commerce and urbanization fuels demand for electric trucks for last-mile delivery |
| Key Market Dynamics |
Increasing Urbanization and Last-Mile Delivery Growing Public Awareness and Corporate Sustainability |
Frequently Asked Questions (FAQ) :
The Europe Electric Truck market size was valued at USD 1.7 Billion in 2023.
The market is projected to grow at a CAGR of 56.00% during the forecast period 2024-2032.
The key players in the market are Daimler AG, Volvo Group, MAN Truck & Bus, Scania AB, Renault Trucks, Iveco, Nikola Corporation, BYD Company Limited, DAF Trucks, Arrival Ltd., Rivian Automotive, FUSO, E-Trucks Europe, Tevva Motors Ltd. and Volta Trucks, among others.
The light-duty truck bonding category dominated the market in 2023.
The last mile delivery category had the largest share of the market.
