Pune, India —The Electric Trucks Market is entering a transformative phase as global freight and commercial transportation increasingly shift toward sustainable and zero-emission solutions. Fueled by expanding infrastructure support, policy mandates, and rapid technological innovations, the electric truck industry is poised to deliver unprecedented growth and redefine traditional logistics ecosystems.

Electric trucks commercial heavy, medium, and light-duty vehicles powered by electricity rather than fossil fuels are reshaping freight transport dynamics across regions. These vehicles offer compelling economic, environmental, and operational benefits, such as reduced operating costs, enhanced energy efficiency, and significantly lower emissions compared to conventional diesel or gasoline trucks.

Market Landscape — A Growing Opportunity

Recent industry intelligence identifies the Electric Trucks Market as one of the most rapidly expanding segments within the broader commercial vehicle domain. Rising demand for last-mile delivery, e-commerce expansion, and stringent emission reduction mandates are primary drivers of market growth. Furthermore, advances in battery technology and charging solutions are steadily improving vehicle range and reliability.

Market analysts project that the Electric Trucks Market will continue to expand through 2031 and beyond, backed by ongoing investments in clean logistics and transport electrification initiatives. Recent reports underscore the accelerating transition to electric freight vehicles and highlight strong regional demand dynamics across major economies.

Global Market Outlook & Trends

The following bullets summarise key Electric Trucks Market insights and forecast trends toward 2031:

  • Technology Advancements: Continued advancements in battery systems, lightweight materials, and fast charging infrastructure are enhancing electric truck viability for long-haul and vocational use cases.
  • Regulatory Support: Governments worldwide are implementing policies that incentivise fleet electrification and support electric charging infrastructure rollouts.
  • Corporate Fleet Shifts: Major logistics players are progressively incorporating electric trucks into commercial fleets to meet environmental commitments and improve operational costs.
  • Consumer & Fleet Demand: Growing awareness of decarbonisation benefits and reduced maintenance costs continue to strengthen fleet owner confidence in electric truck solutions.
  • Sustainability Focus: Environmental concerns and regulatory emission targets are key forces driving fleet electrification strategies among transport operators.

Market Forecasts by 2031

  • Global Market Size & Share: The electric trucks market size is expected to reach US$119.43 million by 2034 from US$12.51 million in 2025. The market is anticipated to register a robust Compound Annual Growth Rate (CAGR) of 28.5% during the forecast period of 2026–2034.  
  • Regional Growth Patterns: Asia Pacific, North America, and Europe are anticipated to lead electric truck deployment rates, reflecting significant e-commerce penetration and stricter emission norms.
  • Segmentation Expansion: Light-duty and medium-duty electric truck segments are expected to command strong market share due to suitability for urban logistics and delivery applications.

Market Segments

By Propulsion

  • BEV
  • PHEV
  • FCV

By Vehicle Type

  • LCV
  • Medium & HCV

By Range

  • Less than 200 Miles
  • More than 200 Miles

By Level of Automation

  • Semi-Autonomous
  • Fully Autonomous

Global & Regional Analysis

Asia Pacific: The Asia Pacific region has emerged as a dominant force in the Electric Trucks Market. Rapid industrialization, burgeoning logistics activity, and supportive government regulations have placed this region at the forefront of electric truck adoption. China, in particular, continues to lead the charge with sustained investments in battery production and electric vehicle manufacturing infrastructure.

North America: North America remains a key growth region, with significant interest from fleet operators seeking to electrify medium-duty truck categories. The region’s focus on emissions reduction and clean transport policies has catalyzed fleet upgrades and pilot deployments of electric trucks.

Europe: European markets are witnessing robust growth, underpinned by stringent emission standards and incentives aimed at promoting electric logistics. The European Union’s ambitious environmental policies are accelerating transitions to battery electric truck solutions across urban and regional freight corridors.

Middle East & Africa and Latin America: Both regions are in developmental phases of electric truck adoption but show increasing interest driven by urbanization and sustainability agendas. Investments in charging infrastructure and policy frameworks are expected to stimulate future market uptake.

Updated Market News & Developments

  • Supply Chain Optimisation: Leading market research emphasises the strong demand for medium-duty electric trucks amid emission regulations and urban delivery needs.
  • Commercial Outlook Reports: Market outlook studies continue to reinforce investor and OEM confidence in electric truck business models and long-term growth potential.
  • Market Valuation Data: Earlier studies suggested the broader electric truck space was projected to expand substantially before 2030, with increasing adoption across freight sectors and vehicle classes.

Key Players with Recent Developments in Electric Trucks Market

AB Volvo

AB Volvo remains one of the most influential players in the electric truck landscape, particularly in heavy-duty and long-haul segments. The company has secured substantial orders from major logistics partners, such as a recent agreement to supply 300 electric heavy trucks to global logistics operator DSV one of the largest electric diesel-replacement truck orders to date in Europe. These new vehicles, including the improved Volvo FH Aero Electric model with enhanced aerodynamics, will support DSV’s sustainability goals across European freight operations. 

Volvo’s commitment to sustainability extends beyond vehicle electrification. The company has pioneered the use of fossil-free steel in its electric trucks, reducing lifecycle emissions and advancing its net-zero objectives.  Additionally, Volvo continues expanding its global footprint by entering new geographic markets for electric trucks, including South Korea, and installing cutting-edge models for diverse transport applications. 

BYD Company Ltd

BYD Company Ltd has rapidly emerged as a key driver in electric commercial vehicle adoption due to its vertically integrated manufacturing approach and advanced battery technologies. Leveraging proprietary Blade Battery systems and LFP (Lithium Iron Phosphate) cells, BYD offers competitive electric truck variants and related commercial vehicles for urban logistics and medium-duty applications. 

BYD’s influence extends across global markets with significant fleet orders and product launches. In Singapore, official distributor Inchcape+ placed a major order for 100 BYD T9R electric trucks, underlining demand for cleaner fleet solutions in Asia and compliance with national green targets.  The company also showcased its electric commercial lineup including light-truck and van models such as the BYD E-VALI at major international exhibitions like IAA Transportation, highlighting broad industry ambition beyond buses into freight transport electrification. 

Daimler AG

Daimler AG primarily through its Mercedes-Benz Trucks division is advancing battery electric heavy-duty truck solutions with renewed product focus and international fleet integration. In 2025, Mercedes-Benz Trucks expanded its battery-electric portfolio by introducing additional variants of the eActros 600 long-haul electric truck model, featuring lithium iron phosphate batteries, modular chassis options, and enhanced range capabilities. 

The prolonged rollout of the eActros 600 has also translated to real-world commercial utilisation, such as DHL’s deployment of eActros 600 trucks via a rental deal, supporting CO₂-reduced parcel transport operations a notable milestone in collaborative electrification strategies between manufacturers and logistics partners. 

Conclusion 

The Electric Trucks Market is steadily moving from early adoption to mainstream acceptance, driven by a global push toward cleaner transportation, evolving logistics needs, and rapid advancements in electric vehicle technology. As freight operators, governments, and manufacturers align around sustainability goals, electric trucks are emerging as a practical and future-ready solution for commercial transportation rather than a niche alternative.

About The Insight Partners

The Insight Partners provides comprehensive syndicated and tailored market research services in the healthcare, technology, and industrial domains. Renowned for delivering strategic intelligence and practical insights, the firm empowers businesses to remain competitive in ever-evolving global markets.

Contact Information

•              Email: sales@theinsightpartners.com

•              Website: theinsightpartners.com

•              Phone: +1-646-491-9876

Also Available in: Korean German Japanese French Chinese Italian Spanish