The Global Market for Electric Trucks (2019-2023): The Decreasing of Battery Prices is Boosting Electric Truck Demand

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Dublin, Dec. 06, 2018 (GLOBE NEWSWIRE) -- The report has been added to offering.

One trend in the market is creation of long-term value for customers.

Although upfront cost of electric trucks is higher than diesel trucks, they are value creators for customers. The growing awareness among customers about this benefit is leading to growing adoption of electric trucks in the global electric vehicles market. Electric trucks allow significant saving in the fuel and maintenance costs, which are major cost parameters for the fleet operators. The growing developments in drive unit by the prominent electric truck manufacturers to make the truck more durable will be a driving factor for the global electric truck market.

According to the report, one driver in the market is reducing battery prices boosting electric truck demand.

Since electric trucks are driven by battery powered systems, the battery cost is one of the most important factors contributing to the upfront cost of the electric truck. There have been several improvements in the technology of battery electric vehicles. making them more desirable to consumers. For example, advances in Li-ion batteries made them comparatively lightweight with a long lifespan compared with conventional lead-acid and valve-regulated lead-acid (VRLA) batteries

Further, the report states that one challenge in the market is high upfront cost of electric trucks.

The stakeholders in the global electric truck market are promoting electric trucks on the basis of the low total cost of ownership (TCO) compared with a diesel truck. The operating and maintenance cost of an electric truck is lower than a diesel truck. Generally, larger the number of mile travels for the truck, better is the TCO of the electric trucks compared with diesel trucks. However, most of the purchases done in the global electric truck market are based on upfront cost.

PART 04: MARKET SIZING

PART 05: FIVE FORCES ANALYSIS

PART 06: MARKET SEGMENTATION BY PRODUCT

PART 07: CUSTOMER LANDSCAPEPART 08: GEOGRAPHIC LANDSCAPE

PART 09: DECISION FRAMEWORKPART 10: DRIVERS AND CHALLENGES

PART 11: MARKET TRENDSPART 12: VENDOR LANDSCAPE

PART 13: VENDOR ANALYSIS

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Related Topics: Electric and Hybrid Vehicles, Trucks

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Globe Newswire: 13:00 GMT Thursday 6th December 2018

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