Electric and Fuel Cell Truck Market

The global electric and fuel cell truck market is likely to demonstrate a significant CAGR of 41.20% during the period of assessment 2023 - 2030, reaching an estimated size of US$40.1 Bn by the end of 2030.

Increasing commitment of OEMs, as well as suppliers toward the Net Zero Emission Plans, and strict adhesion to reduced cost of ownership are driving the market growth. In addition, favourable policies, and supportive government initiatives are likely to accelerate market expansion through 2030.

Proton exchange membrane fuel cell hold the major share in the fuel cell truck segment, whereas the demand for medium- and heavy-duty trucks will continue to be on the rise in the electric and fuel cell truck market space.

Asia Pacific will continue to lead its way while North America's electric and fuel cell truck market will experience the strongest growth till 2030.

Volvo Inc., Daimler AG, BYD, Renault Trucks, China FAW Group Corp., Ltd., DAF Trucks, BAIC Group, Zhejiang Geely Holding Group Co., Ltd., Zhengzhou Yutong Group Co., Ltd., Nikola Motor, Proterra, and Tesla Inc. constitute some of the prominent players in the electric and fuel cell truck space.