Top Companies in Electric Truck Market | In-depth Research Report 2022-2030, Top Players of Industry | Vantage Market Research

Electric Trucks are commercial vehicles that are powered by a battery pack and are used for cargo transportation.

Top Companies in Electric Truck Market | In-depth Research Report 2022-2030, Top Players of Industry | Vantage Market Research
electric truck market

Market Overview:

The Global Electric Truck Market is valued at USD 419.5 Million in the year 2021 and is expected to reach a value of USD 1686.6 Million by the year 2028. The Global Market is anticipated to grow to exhibit a Compound Annual Growth Rate (CAGR) of 26.1% over the forecast period.

Electric Trucks are electric vehicles that use electricity as their supply of electricity for logistics and transportation. The vehicles are commonly powered using batteries that can be recharged. Short-haul electric vehicles are used more and more and more due to less energy and decreased carbon footprint.

The rapid electrification of transportation to mitigate greenhouse fuel emissions and increase cost-effectiveness is helping the market increase. The growing demand for fuel-green cars is increasing the usage of electric-powered vehicles, as a result, and propelling the market increase. The growing adoption of heavy-responsibility electric-powered cars to increase profitability and decrease carbon footprint is further augmenting the market increase in electric trucks. The growing manufacturing of the electric automobile and hybrid electric-powered automobile segments with the aid of using OEM producers is propelling the market increase. Moreover, the growing demand for electric trucks to reduce operational charges is drastically contributing to the market growth.

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Some of the key players operating in the Electric Truck Market are listed below:

Company Name

Revenue in the US

  • Volvo AB

$40 Billion

  • BYD Auto Co. Ltd.

$25 Billion

  • Daimler-Benz AG

$147 Billion

  • Dongfeng Motor Corporation

$20 Billion

  • FAW Group Co. Ltd.

$89 Billion

  • Beiqi Foton Motor Co. Ltd.

$9 Billion

  • Isuzu Motors Limited

$19 Billion

  • Navistar International Corporation

$7 Billion

  • Tevva Motors Ltd

$5 Million

  • Scania Aktiebolag

$11 Billion


  1. Volvo AB

Volvo was established in 1915 as a subsidiary of SKF, a ball bearing manufacturer, however both the Volvo Group. The company is headquartered in Gothenburg, Sweden with around 95,850. Aktiebolaget Volvo operates as a commercial vehicle manufacturer. The Company manufactures trucks, buses, engines, and construction equipment, as well as provides financial services. Volvo serves customers worldwide.

  1. BYD Auto Co. Ltd.

BYD Auto Co. Ltd. manufactures automobiles. BYD Auto Co., Ltd. ("Build Your Dreams") is the automotive subsidiary of the publicly listed Chinese multinational manufacturer BYD Company, headquartered in Xi'an, Shaanxi Province, China. It was founded in January 2003, following BYD Company's acquisition of Qinchuan Automobile Company in 2002 The Company research, designs, develops, produces, and sells sedans, off-road vehicles, commercial vehicles, passenger cars, and light trucks. BYD Auto also offers after-sales services. BYD Auto is the fourth largest plug-in electric vehicle (BEV and PHEV) company and the fourth-largest BEV Company in the world.

  1. Daimler-Benz AG

Daimler-Benz AG was founded and headquartered on 17 November 1998, in Stuttgart, Germany. It is one of the world's leading car manufacturers with approximately 1,72,000 employees. The company design manufacture, and markets luxury automobiles, trucks, and other vehicles worldwide. The Company provides electronics and telecommunications services. Daimler-Benz also provides aerospace and defense services, as well as financial services.

  1. Dongfeng Motor Corporation

Dongfeng Motor Corporation develops, manufactures, and distributes automobiles. The Company produces passenger vehicles, commercial vehicles, trucks, and related auto parts. Dongfeng Motor markets its products worldwide. The company is headquartered in Wuhan, China, and was founded in 1969.

  1. FAW Group Co. Ltd.

China FAW Group Co., Ltd. manufactures automobiles. China Faw Group Import & Export Corporation manufactures automotive cars and trucks. The Company produces and wholesales new and used passenger automobiles, trucks, trailers, and other motor vehicles. The Company produces and distributes passenger cars, commercial trucks, buses, coaches, and more. China FAW Group also produces automobile parts.

  1. Beiqi Foton Motor Co. Ltd.

Beiqi Foton Motor Co., Ltd. was founded on 28 August 1996 and is headquartered in Beijing, China. The company manufactures and markets automobiles and parts. The company produces light trucks, medium trucks, heavy trucks, passenger cars, and engine parts. Beiqi Foton Motor also conducts automotive wholesale businesses domestically and internationally.

  1. Isuzu Motors Limited

Isuzu Motors Limited is headquartered in Yokohama, Kanagawa, Japan. The company manufactures and markets trucks and automobile parts. The Company's products include pickup, light, and heavy-duty trucks, as well as medium and large-sized buses, recreational vehicles, and sport utility vehicles.

  1. Navistar International Corporation

Navistar International Corporation formerly, International Harvester Company is headquartered in Lisle, Illinois, and the United States. The company manufactures and markets medium and heavy trucks, school buses, mid-range diesel engines, and service parts with a dedicated team of employees of approximately 14,000. The Company also provides financial services to its dealers and customers.

  1. Tevva Motors Ltd

Tevva Electric Trucks operates as a technology company and truck manufacturer. The Company offers zero-emission battery electric vehicles (BEV) and hydrogen fuel cell range-extended vehicles and services. Tevva Motors focuses on a rapid shift to electrification for medium and heavy-duty urban freight and logistics operators with vehicle weights that meet duty cycles and applications.

  1. Scania Aktiebolag

Scania is a global company with sales of trucks, buses, engines & services in more than 100 countries. Scania Aktiebolag was founded in 1891 and headquartered in Södertälje, Sweden manufactures commercial vehicles. The Company manufactures heavy trucks and buses, as well as diesel engines and general industrial appliances. Scania serves clients worldwide.

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