A recent analysis reported that after having a medicore 2018, electric truck sales will see double-digit growth in the global market.
Interact Analysis forecasts that the huge rise in sales -- a roughly sixfold increase from just under 180,000 units in 2019 to 1.2 million in 2025 -- will be driven mostly by sales in China. The analysis firm also identifies that Asia and Europe’s increased emissions regulations will be an additional factor in the electric truck market upturn.
Rueben Scriven, an electric truck analyst with Interact, says one aspect that can augment the market growth is the trucking industry’s increasing awareness that electrification helps in reducing fuel and maintenance costs.
Scriven also said growth in the U.S. market will be less dynamic compared to Europe and Asia due to its low diesel prices and the lack of a significant regulatory push.