Electric Heavy Vehicle Market – Industry Analysis and Forecast (2019-2026)

The major drivers of electric heavy vehicle market are the need for fuel-efficient and emission-free vehicles and the increase in demand for electric commercial vehicle such as electric truck in the logistics industry to minimize the additional liability of fuel expenses. With strong electric-vehicle technology, infrastructure is also becoming increasingly cost competitive and available which is the major factor that will drive the growth and adoption of electric heavy vehicles. The less number of charging stations and high cost involved in the initial development of electric heavy vehicle are restraining factors for the electric heavy vehicle market. Government funds and incentive programs to encourage adoption of electric heavy vehicles such as public buses and electric trucks will be creating opportunities in upcoming years.

Leave a Reply

Your email address will not be published. Required fields are marked *