North America Electric Trucks Market Value Worth USD 5652.14 million by 2028, Says Business Market Insights – Impact of COVID19 Pandemic and Regional Analysis

 The North America electric trucks market is expected to grow from US$ 1390.19 million in 2022 to US$ 5652.14 million by 2028. It is estimated to grow at a CAGR of 26.3% from 2022 to 2028.

“North America Electric Trucks Market” study by The Business Market Insights provides details about the market dynamics affecting the market, Market scope, Market segmentation and overlays shadow upon the leading market players highlighting the favorable competitive landscape and trends prevailing over the years.

The rising concern regarding the transportation sector’s impact on the environment has led to an unprecedented global requirement of decarbonizing transportation to meet climate goals and limit global warming, thereby increasing the adoption of low-carbon technology in the transportation sector. Rising concerns about the adverse impact of transportation-related emissions and the shift of consumer behavior toward zero-emission vehicles have resulted in a significant increase in the adoption of light-duty passenger vehicles across the region. Additionally, the constantly rising demand for EVs is fueled by huge investments made by automotive giants in the research & development, and production of electric vehicles. For instance, General Motors, Volkswagen, Volvo, BMW, Nissan, and Audi have collectively invested approximately US$ 150 billion in manufacturing electric vehicles and launched new models throughout 2020–2021.

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Leading North America Electric Trucks Market Players:

• AB Volvo
• BYD Company Ltd.
• Daimler AG
• FAW Group Co., Ltd
• Navistar, Inc.
• PACCAR Inc.
• Proterra Inc.
• Rivian
• Scania
• Tesla, Inc.

Furthermore, with the fall in prices of EVs and the availability of a greater number of models, electric vehicle production is set for exponential growth in various countries, subject to countries’ overall economic growth and policy support from the government. Transportation is the primary source of pollution across the region, and heavy-duty vehicles, such as trucks and buses, are the major contributors to this category. The high efficiency of electric trucks over conventional diesel and natural gas vehicles is another factor expected to drive this segment’s growth in the coming years.

The study conducts SWOT analysis to evaluate strengths and weaknesses of the key players in the Payment Gateway market. Further, the report conducts an intricate examination of drivers and restraints operating in the market. The report also evaluates the trends observed in the parent market, along with the macro-economic indicators, prevailing factors, and market appeal with regard to different segments. The report predicts the influence of different industry aspects on the Payment Gateway market segments and regions.

The report is a combination of qualitative and quantitative analysis of the North America Electric Trucks Market. The report also focuses on the exhaustive PEST analysis and extensive market dynamics during the forecast period.

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Reason to Buy

• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the regional North America Electric Trucks Market
• Highlights key business priorities in order to guide the companies to reform their business strategies and establish themselves in the wide geography.
• The key findings and recommendations highlight crucial progressive industry trends in the North America Electric Trucks Market, thereby allowing players to develop effective long term strategies in order to garner their market revenue.
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
• Scrutinize in-depth regional market trends and outlook coupled with the factors driving the market, as well as those restraining the growth at a certain extent.
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.

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