Frost & Sullivan’s recent analysis, “Global Commercial Vehicle Electrification Potential and Trends, Forecast to 2025,” provides an overview of the key trends in medium-duty (MD) commercial vehicles ranging between 6.1 t and 16 t, and heavy-duty (HD) commercial vehicles in the above 16 t segment. It covers the various factors driving the adoption of eTrucks and the top challenges from 2016 to 2025.
Stringent emission regulations in China, North America, and Europe, coupled with the growing need for fleets to contain their operating and fuel costs to counteract volatile fuel prices, are prompting automotive OEMs to roll out innovative and advanced electric trucks (eTrucks). Among the global regions, China's aggressive promotion of eTrucks, through subsidies and large-scale installation of quick charging infrastructure, has established it as the undisputed leader in the eTruck market, and the country is poised to account for 61.1% of the global eTruck sales in 2025. Despite the fall in battery pack prices, eTrucks still command a high upfront acquisition cost, equating to more than twice the price of diesel trucks. To make these technologies affordable to customers across the spectrum, OEMs are also gravitating toward new business models such as leasing of trucks, along with batteries or fuel cells.