Market Overview

The Asia-Pacific heavy electric commercial truck (CLASS 8) is rapidly growing due to government initiatives to encourage the adoption of electric trucks and low operating costs.

Furthermore, growth in demand within fleets is likely to present a growth opportunity for the players in the Asia-Pacific market. The class 8 electric Truck is part of a six-strong fleet of all-electric heavy trucks. It comes in four- and six-battery versions, with 4×2, 6×2, or 6×4 truck or tractor combinations for the former, and a 6×2 or 6×4 tractor for the latter. The gross Truck weight of a Class 8 truck exceeds 33,000 pounds. Heavy trucks typically have three axles, but some have five axles to tow a trailer with significant weight.

The Asia-Pacific heavy commercial electric truck (Class 8) market is rapidly growing due to government initiatives to encourage the adoption of electric trucks and low operating costs. However, the market’s growth is hampered by underdeveloped charging infrastructure and poor aftermarket services. Growth in demand within fleets is an opportunity for the growth of the Asia-Pacific heavy commercial electric truck (Class 8) market.

The Asia-Pacific heavy electric commercial truck (CLASS 8) market is projected to grow at 29.26% CAGR during the forecast period, 2022–2030. In 2021, the heavy electric commercial truck (CLASS 8) market was dominated by China with a 44.28% share, followed by Japan, India, and South Korea with shares of 15.28%, 14.26%, and 8.27% respectively.

Market Segmentation

The Asia-Pacific heavy electric commercial truck (CLASS 8) market has been segmented based on propulsion type, range, end-use industry, and country. Based on propulsion type, the Asia-Pacific heavy electric commercial truck (CLASS 8) market has been segmented into BEV, HEV, PHEV, and FCEV. The BEV segment is expected to grow at 28.24% during the forecast period.

Based on range, the Asia-Pacific heavy electric commercial truck (CLASS 8) market has been segmented into Upto 150 Miles, 151-300 Miles, and Above 300 Miles. The 151-300 Miles segment is expected to grow at 28.96% % during the forecast period.

Based on end-use industry, the Asia-Pacific heavy electric commercial truck (CLASS 8) market has been segmented into Airports, Seaports, Logistics, Mining & Construction, Industrial, and Others. The logistics segment is expected to grow at 28.70% during the forecast period.

Regional Analysis

China is a major industrial hub and one of the fastest-growing economies in Asia-Pacific. It is an important and one of the fastest-growing markets for heavy commercial electric trucks. The market in China is expected to show rising demand in the forecasted period due to rising government initiatives in promoting the use of low-carbon emission vehicles.

Additionally, the rising price of crude oil and advancements in the electric truck class 8 market has also increased the demand significantly. Furthermore, China is a major automobile manufacturing country; this has resulted in many major manufacturers shifting their focus on the electric truck segment seeing the rising demand from the market.

Major Players

Ab Volvo, Daimler Ag, BYD Company Limited, Navistar, Scania, Hino Motors, Ltd, Man Se, Isuzu Motors Ltd, GAUSSIN, Foton Motor Inc, Dongfeng Motor Corporation, Ltd.

TABLE OF CONTENTS

1 EXECUTIVE SUMMARY
1.1 ASIA-PACIFIC HEAVY ELECTRIC COMMERCIAL TRUCK (CLASS 8) MARKET, BY PROPULSION TYPE
1.2 ASIA-PACIFIC HEAVY ELECTRIC COMMERCIAL TRUCK (CLASS 8) MARKET, BY RANGE
1.3 ASIA-PACIFIC HEAVY ELECTRIC COMMERCIAL TRUCK (CLASS 8) MARKET, BY END-USE INDUSTRY
2 MARKET INTRODUCTION
2.1 DEFINITION
2.2 SCOPE OF THE STUDY
2.3 RESEARCH OBJECTIVE
2.4 MARKET STRUCTURE
3 RESEARCH METHODOLOGY
3.1 RESEARCH PROCESS
3.2 PRIMARY RESEARCH
3.3 SECONDARY RESEARCH
3.4 MARKET SIZE ESTIMATION
3.5 FORECAST MODEL
3.6 LIST OF ASSUMPTIONS
4 MARKET DYNAMICS
4.1 INTRODUCTION
4.2 DRIVERS
4.2.1 GOVERNMENT INITIATIVES TO ENCOURAGE THE ADOPTION OF ELECTRIC TRUCKS
4.2.2 LOW OPERATING COST
4.2.3 DRIVER IMPACT ANALYSIS
4.3 RESTRAINTS
4.3.1 UNDERDEVELOPED CHARGING INFRASTRUCTURE AND POOR AFTERMARKET SERVICES
4.3.2 RESTRAINT IMPACT ANALYSIS
4.4 OPPORTUNITY
4.4.1 GROWTH IN DEMAND WITHIN FLEETS
4.5 COVID-19 IMPACT ANALYSIS
4.5.1 ECONOMIC IMPACT ON THE OVERALL AUTOMOTIVE INDUSTRY
4.5.2 IMPACT ON AUTOMOTIVE PRODUCTION
4.5.3 IMPACT ON HEAVY COMMERCIAL ELECTRIC TRUCK (CLASS 8) MARKET
4.5.3.1 IMPACT ON SUPPLY CHAIN
4.5.3.2 CASH FLOW CONSTRAINTS
4.5.4 IMPACT ON WORLD TRADE
5 MARKET FACTOR ANALYSIS
5.1 PORTER’S FIVE FORCES MODEL
5.1.1 THREAT OF NEW ENTRANTS
5.1.2 BARGAINING POWER OF SUPPLIERS
5.1.3 THREAT OF SUBSTITUTES
5.1.4 BARGAINING POWER OF BUYERS
5.1.5 INTENSITY OF RIVALRY
5.2 SUPPLY CHAIN ANALYSIS
5.2.1 DESIGN & DEVELOPMENT
5.2.2 RAW MATERIAL/COMPONENT SUPPLY
5.2.3 SALES & DISTRIBUTION
5.2.4 END USE
6 ASIA-PACIFIC HEAVY COMMERCIAL TRUCK (CLASS 8) MARKET, BY PROPULSION TYPE
6.1 OVERVIEW
7 ASIA-PACIFIC HEAVY ELECTRIC COMMERCIAL TRUCK (CLASS 8) MARKET, BY PROPULSION TYPE
7.1 OVERVIEW
7.2 BEV
7.3 HEV
7.4 PHEV
7.5 FCEV
8 ASIA-PACIFIC HEAVY ELECTRIC COMMERCIAL TRUCK (CLASS 8) MARKET, BY RANGE
8.1 OVERVIEW
8.2 UP TO 150 MILES
8.3 151-300 MILES
8.4 ABOVE 300 MILES
9 ASIA-PACIFIC HEAVY ELECTRIC COMMERCIAL TRUCK (CLASS 8) MARKET, BY END-USE INDUSTRY
9.1 OVERVIEW
9.2 AIRPORTS
9.3 SEAPORTS
9.4 LOGISTICS
9.5 MINING & CONSTRUCTION
9.6 INDUSTRIAL
9.7 OTHERS
10 ASIA-PACIFIC HEAVY ELECTRIC COMMERCIAL TRUCK (CLASS 8) MARKET, BY COUNTRY
10.1 OVERVIEW
10.1.1 ASIA-PACIFIC HEAVY ELECTRIC COMMERCIAL TRUCK (CLASS 8) MARKET, BY COUNTRY, 2018–2030
10.2 CHINA
10.2.1 CHINA: HEAVY ELECTRIC COMMERCIAL TRUCK (CLASS 8) MARKET, BY PROPULSION TYPE, 2018–2030
10.2.2 CHINA: HEAVY ELECTRIC COMMERCIAL TRUCK (CLASS 8) MARKET, BY RANGE, 2018–2030
10.2.3 CHINA: HEAVY ELECTRIC COMMERCIAL TRUCK (CLASS 8) MARKET, BY END-USE INDUSTRY, 2018–2030
10.3 INDIA
10.3.1 INDIA: HEAVY ELECTRIC COMMERCIAL TRUCK (CLASS 8) MARKET, BY PROPULSION TYPE, 2018–2030
10.3.2 INDIA: HEAVY ELECTRIC COMMERCIAL TRUCK (CLASS 8) MARKET, BY RANGE, 2018–2030
10.3.3 INDIA: HEAVY ELECTRIC COMMERCIAL TRUCK (CLASS 8) MARKET, BY END-USE INDUSTRY, 2018–2030
10.4 JAPAN
10.4.1 JAPAN: HEAVY ELECTRIC COMMERCIAL TRUCK (CLASS 8) MARKET, BY PROPULSION TYPE, 2018–2030
10.4.2 JAPAN: HEAVY ELECTRIC COMMERCIAL TRUCK (CLASS 8) MARKET, BY RANGE, 2018–2030
10.4.3 JAPAN: HEAVY ELECTRIC COMMERCIAL TRUCK (CLASS 8) MARKET, BY END-USE INDUSTRY, 2018–2030
10.5 SOUTH KOREA
10.5.1 SOUTH KOREA: HEAVY ELECTRIC COMMERCIAL TRUCK (CLASS 8) MARKET, BY PROPULSION TYPE, 2018–2030
10.5.2 SOUTH KOREA: HEAVY ELECTRIC COMMERCIAL TRUCK (CLASS 8) MARKET, BY RANGE, 2018–2030
10.5.3 SOUTH KOREA: HEAVY ELECTRIC COMMERCIAL TRUCK (CLASS 8) MARKET, BY END-USE INDUSTRY, 2018–2030
10.6 AUSTRALIA
10.6.1 AUSTRALIA: HEAVY ELECTRIC COMMERCIAL TRUCK (CLASS 8) MARKET, BY PROPULSION TYPE, 2018–2030
10.6.2 AUSTRALIA: HEAVY ELECTRIC COMMERCIAL TRUCK (CLASS 8) MARKET, BY RANGE, 2018–2030
10.6.3 AUSTRALIA: HEAVY ELECTRIC COMMERCIAL TRUCK (CLASS 8) MARKET, BY END-USE INDUSTRY, 2018–2030
10.7 NEW ZEALAND
10.7.1 NEW ZEALAND: HEAVY ELECTRIC COMMERCIAL TRUCK (CLASS 8) MARKET, BY PROPULSION TYPE, 2018–2030
10.7.2 NEW ZEALAND: HEAVY ELECTRIC COMMERCIAL TRUCK (CLASS 8) MARKET, BY RANGE, 2018–2030
10.7.3 NEW ZEALAND: HEAVY ELECTRIC COMMERCIAL TRUCK (CLASS 8) MARKET, BY END-USE INDUSTRY, 2018–2030
10.8 SINGAPORE
10.8.1 SINGAPORE: HEAVY ELECTRIC COMMERCIAL TRUCK (CLASS 8) MARKET, BY PROPULSION TYPE, 2018–2030
10.8.2 SINGAPORE: HEAVY ELECTRIC COMMERCIAL TRUCK (CLASS 8) MARKET, BY RANGE, 2018–2030
10.8.3 SINGAPORE: HEAVY ELECTRIC COMMERCIAL TRUCK (CLASS 8) MARKET, BY END-USE INDUSTRY, 2018–2030
10.9 MALAYSIA
10.9.1 MALAYSIA: HEAVY ELECTRIC COMMERCIAL TRUCK (CLASS 8) MARKET, BY PROPULSION TYPE, 2018–2030
10.9.2 MALAYSIA: HEAVY ELECTRIC COMMERCIAL TRUCK (CLASS 8) MARKET, BY RANGE, 2018–2030
10.9.3 MALAYSIA: HEAVY ELECTRIC COMMERCIAL TRUCK (CLASS 8) MARKET, BY END-USE INDUSTRY, 2018–2030
10.10 THAILAND
10.10.1 THAILAND: HEAVY ELECTRIC COMMERCIAL TRUCK (CLASS 8) MARKET, BY PROPULSION TYPE, 2018–2030
10.10.2 THAILAND: HEAVY ELECTRIC COMMERCIAL TRUCK (CLASS 8) MARKET, BY RANGE, 2018–2030
10.10.3 THAILAND: HEAVY ELECTRIC COMMERCIAL TRUCK (CLASS 8) MARKET, BY END-USE INDUSTRY, 2018–2030
10.11 INDONESIA
10.11.1 INDONESIA: HEAVY ELECTRIC COMMERCIAL TRUCK (CLASS 8) MARKET, BY PROPULSION TYPE, 2018–2030
10.11.2 INDONESIA: HEAVY ELECTRIC COMMERCIAL TRUCK (CLASS 8) MARKET, BY RANGE, 2018–2030
10.11.3 INDONESIA: HEAVY ELECTRIC COMMERCIAL TRUCK (CLASS 8) MARKET, BY END-USE INDUSTRY, 2018–2030
10.12 PHILIPPINES
10.12.1 PHILIPPINES: HEAVY ELECTRIC COMMERCIAL TRUCK (CLASS 8) MARKET, BY PROPULSION TYPE, 2018–2030
10.12.2 PHILIPPINES: HEAVY ELECTRIC COMMERCIAL TRUCK (CLASS 8) MARKET, BY RANGE, 2018–2030
10.12.3 PHILIPPINES: HEAVY ELECTRIC COMMERCIAL TRUCK (CLASS 8) MARKET, BY END-USE INDUSTRY, 2018–2030
10.13 VIETNAM
10.13.1 VIETNAM: HEAVY ELECTRIC COMMERCIAL TRUCK (CLASS 8) MARKET, BY PROPULSION TYPE, 2018–2030
10.13.2 VIETNAM: HEAVY ELECTRIC COMMERCIAL TRUCK (CLASS 8) MARKET, BY RANGE, 2018–2030
10.13.3 VIETNAM: HEAVY ELECTRIC COMMERCIAL TRUCK (CLASS 8) MARKET, BY END-USE INDUSTRY, 2018–2030
10.14 CAMBODIA
10.14.1 CAMBODIA: HEAVY ELECTRIC COMMERCIAL TRUCK (CLASS 8) MARKET, BY PROPULSION TYPE, 2018–2030
10.14.2 CAMBODIA: HEAVY ELECTRIC COMMERCIAL TRUCK (CLASS 8) MARKET, BY RANGE, 2018–2030
10.14.3 CAMBODIA: HEAVY ELECTRIC COMMERCIAL TRUCK (CLASS 8) MARKET, BY END-USE INDUSTRY, 2018–2030
10.15 LAOS
10.15.1 LAOS: HEAVY ELECTRIC COMMERCIAL TRUCK (CLASS 8) MARKET, BY PROPULSION TYPE, 2018–2030
10.15.2 LAOS: HEAVY ELECTRIC COMMERCIAL TRUCK (CLASS 8) MARKET, BY RANGE, 2018–2030
10.15.3 LAOS: HEAVY ELECTRIC COMMERCIAL TRUCK (CLASS 8) MARKET, BY END-USE INDUSTRY, 2018–2030
10.16 REST OF ASIA-PACIFIC
10.16.1 REST OF ASIA-PACIFIC: HEAVY ELECTRIC COMMERCIAL TRUCK (CLASS 8) MARKET, BY PROPULSION TYPE, 2018–2030
10.16.2 REST OF ASIA-PACIFIC: HEAVY ELECTRIC COMMERCIAL TRUCK (CLASS 8) MARKET, BY RANGE, 2018–2030
10.16.3 REST OF ASIA-PACIFIC: HEAVY ELECTRIC COMMERCIAL TRUCK (CLASS 8) MARKET, BY END-USE INDUSTRY, 2018–2030
11 COMPETITIVE LANDSCAPE
11.1 OVERVIEW
11.2 COMPETITIVE BENCHMARKING
11.3 MARKET SHARE ANALYSIS
11.4 KEY DEVELOPMENTS IN THE GLOBAL BRAKING SYSTEM MARKET
11.4.1 ACQUISITION
11.4.2 PARTNERSHIP
11.4.3 EXPANSION
11.4.4 PRODUCT LAUNCH
12 COMPANY PROFILES
12.1 AB VOLVO
12.1.1 COMPANY OVERVIEW
12.1.2 FINANCIAL OVERVIEW
12.1.3 PRODUCTS OFFERED
12.1.4 KEY DEVELOPMENTS
12.1.5 SWOT ANALYSIS
12.1.6 KEY STRATEGY
12.2 DAIMLER AG
12.2.1 COMPANY OVERVIEW
12.2.2 FINANCIAL OVERVIEW
12.2.3 PRODUCTS OFFERED
12.2.4 KEY DEVELOPMENTS
12.2.5 SWOT ANALYSIS
12.2.6 KEY STRATEGIES
12.3 BYD COMPANY LIMITED
12.3.1 COMPANY OVERVIEW
12.3.2 FINANCIAL OVERVIEW
12.3.3 PRODUCTS OFFERED
12.3.4 KEY DEVELOPMENTS
12.3.5 SWOT ANALYSIS
12.3.6 KEY STRATEGIES
12.4 NAVISTAR, INC.
12.4.1 COMPANY OVERVIEW
12.4.2 FINANCIAL OVERVIEW
12.4.3 PRODUCTS OFFERED
12.4.4 KEY DEVELOPMENTS
12.4.5 SWOT ANALYSIS
12.4.6 KEY STRATEGIES
12.5 SCANIA
12.5.1 COMPANY OVERVIEW
12.5.2 FINANCIAL OVERVIEW
12.5.3 PRODUCTS OFFERED
12.5.4 KEY DEVELOPMENTS
12.5.5 SWOT ANALYSIS
12.5.6 KEY STRATEGIES
12.6 HINO MOTORS, LTD.
12.6.1 COMPANY OVERVIEW
12.6.2 FINANCIAL OVERVIEW
12.6.3 PRODUCTS OFFERED
12.6.4 KEY DEVELOPMENTS
12.6.5 SWOT ANALYSIS
12.6.6 KEY STRATEGIES
12.7 MAN SE
12.7.1 COMPANY OVERVIEW
12.7.2 FINANCIAL OVERVIEW
12.7.3 PRODUCTS OFFERED
12.7.4 KEY DEVELOPMENTS
12.7.5 SWOT ANALYSIS
12.7.6 KEY STRATEGIES
12.8 ISUZU MOTORS LTD
12.8.1 COMPANY OVERVIEW
12.8.2 FINANCIAL OVERVIEW
12.8.3 PRODUCTS OFFERED
12.8.4 KEY DEVELOPMENTS
12.8.5 SWOT ANALYSIS
12.8.6 KEY STRATEGIES
12.9 GAUSSIN
12.9.1 COMPANY OVERVIEW
12.9.2 FINANCIAL OVERVIEW
12.9.3 PRODUCTS OFFERED
12.9.4 KEY DEVELOPMENTS
12.9.5 SWOT ANALYSIS
12.9.6 KEY STRATEGIES
12.10 FOTON MOTOR INC
12.10.1 COMPANY OVERVIEW
12.10.2 FINANCIAL OVERVIEW
12.10.3 PRODUCTS OFFERED
12.10.4 KEY DEVELOPMENTS
12.10.5 SWOT ANALYSIS
12.10.6 KEY STRATEGIES
12.11 DONGFENG MOTOR CORPORATION
12.11.1 COMPANY OVERVIEW
12.11.2 FINANCIAL OVERVIEW
12.11.3 PRODUCTS OFFERED
12.11.4 KEY DEVELOPMENTS
12.11.5 SWOT ANALYSIS
12.11.6 KEY STRATEGIES
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