Global Electric Truck Market Development Challenges, Growth, Top Key Players, Market Size, Demand, Recent Trends and 2031 Regional Forecast

Kenneth Research, in its repository of market research reports, has recently added a report titled Electric Truck Market, that emphasizes on the recent market trends and opportunities available for the growth of the market for the forecast period 2022-2031. The expansion of Pruritus Therapeutics can be attributable to the rising global health expenditures as well as the quickening pace of medical innovation. The World Health Organization (WHO) reported that the average annual growth in total health spending is 6% in low- and middle-income countries and close to 4% in high-income ones. Further, in the year 2016, the expenditure made on health reached close to 10% of the GDP of the world and crossed a value of USD 7 trillion. Moreover, the median health expenditure per capita recorded in the high-income, upper-middle income, and low & lower-middle income countries, recorded to be over USD 2,000, USD 400, and USD 100 respectively. Additionally, in the same year, the spending on health in high-income countries and in the low- and middle-income countries comprised approximately 8.2% and 6.3% of the GDP respectively.

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The market for Research Electric Truck is anticipated to rise at a CAGR of 44% over the course of the forecast period due to rising consumer demand for high-quality healthcare services and the healthcare industry’s rapid expansion. The number of people employed in the healthcare sector has grown somewhat during the last few years. The overall number of employment opportunities in the home healthcare sector in the U.S. is predicted to increase by almost 60% between the years of 2014 and 2024, according to data from the U.S. Bureau of Labor Statistics (BLS). Some of the fastest-growing occupations in the healthcare industry include occupations such as occupational therapy assistants, physical therapy assistants, home health aides, and others. In other statistics by the BLS, jobs for occupational therapy assistants between the period 2014 and 2024 is projected to hold the highest share of 43%. This is further led by physical therapy assistants, physical therapy aides, home health aides, and nurse practitioners, with a share of 41%, 39%, 38%, and 35% respectively.

The study on the Research Electric Truck market consists of a descriptive evaluation of the overall market scope and the annual growth rate, along with the latest trends and developments in the market in terms of various parameters such as growth indicators, market segmentation, revenue, opportunities along with challenges affecting the market growth. Further, the Research Electric Truck market is likely to attain a notable market value in 2022 as compared to the value achieved in 2031.

In Q4 2021, U.S. current-account deficit widened stood at $224.8 billion. However, in Q1 22, CAD rose by 29.6%, reached to $291.4 billion, adding $66.6 billion to the gap. Export of good and services increased by $25.7 billion to reach $1.03 trillion in the first quarter of 2022. However, country’s goods and services deficit was $79.6 billion in June, down $5.3 billion from $84.9 billion in May, revised- reflecting some sight of relief. On the other hand, annual inflation rate in the country hit 8.5%. Energy CPI surged by 32.9% in July 2022, inflating the cost of logistic and signs to disrupt supply chain whilst electricity cost upsurged by 15.2%, highest since Feb 2006. Apart from that, In July 2022, existing US home sales declined 5.9% to 4.81 million (seasonally adjusted annual rate), the lowest since May of 2020 and below market expectations of 4.89 million. As mortgage rate touches highest at 6%, sales for houses declined for a sixth consecutive month. Global energy crises to remain at focal point impacting the economic activity in the U.S, pushing consumers to spend less on the products and services and save more.

On the other hand, the worst is expected to be seen in the European countries, especially during 2022 winters. The energy and gas crises has already started grappling the region, wherein many Western European countries including Germany is looking for coal fired solutions to tackle the gas supply shortage created by Russian-Ukraine conflict.

Amidst global concerns, market players have started looking for safe investments by holding on to the new technology and product launches. Factors like currency translation, disruption in global supply chain, Anti-China sentiments brewing across the globe, slowdown in Chinese economy, inflated products prices, USD getting stronger every week, decreasing purchasing power and strict measures taken by central banks/institutions across the world to ensure less spending and more saving, could hit the demand for the product and service badly in near future.

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Key Companies and Market Share Insights :

The market is exceptionally aggressive in nature and is described by the presence of huge and little players. The vital participants that overwhelmed the market in 2019 incorporate Dongfeng Motor Corporation; BYD Auto Co. Ltd.; Daimler AG; PACCAR Inc.; and Scania. These players offer a wide scope of electric trucks and oblige coordinations and transportation and metropolitan areas. The market players are additionally centered around assembling power module electric trucks with a superior reach for the long stretch. New item dispatches and overhauls of the current trucks have stayed the vital procedure of these players. For example, in June 2018, Daimler trucks uncovered Freightliner eM2 106 and Freightliner eCascadia at the Capital Market and Technology Day at Portland International Raceway. In March 2020, Daimler Trucks dispatched the Electric Freightliner Customer Experience Fleet in North America. The armada comprises of two medium-obligation Freightliner eM2 106 and six substantial Freightliner eCascadia.

A portion of the noticeable parts in the electric truck market include:

Abdominal muscle Volvo

BYD Auto Co. Ltd

Daimler AG

Dongfeng Motor Corporation

FAW Group Co., Ltd.

Foton Motor Inc.

Isuzu Motors Ltd

Navistar, Inc.



Tevva Motors Limited

Fragments Covered in the Report :

This report estimates income development at worldwide, provincial, and nation levels and gives an examination of the most recent industry patterns in every one of the sub-sections from 2022-2030. For this examination, Grand View Research has divided the worldwide electric trucks market report dependent on vehicle type and district:

Vehicle Type Outlook (Revenue, USD Million, 2022-2030)

Battery Electric Trucks

Cross breed Trucks

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Kenneth Research provides scheduled syndicated reports that help industry professionals and organizations decipher market trends to take significant decisions and plan strategies. We cater to a wide range of industries including healthcare & pharmaceuticals, ICT & telecom, automotive & transportation, energy & power, chemicals, FMCG & food, aerospace & defense, among others. Our research team ensures to track and analyze the industry on a regular basis to offer strategic business consultancy services on a global level. We, at Kenneth Research are adept at capturing descriptive insights on crucial topics to help our clients make their informed decisions.
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