“Hybrid Truck Market Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on hybrid truck market market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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- Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
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Where is the largest and fastest growing market for hybrid truck market ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The hybrid truck market market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
- 1) By Technology Type: Parallel Hybrid; Series Hybrid; Series-Parallel Hybrid; Plug-In-Hybrid
- 2) By Vehicle Type: Light Duty Truck; Heavy Duty Truck
- 3) By Application: Construction; Pick Up And Delivery Vehicle
- Companies Mentioned: AB Volvo; Daimler Truck Holding AG; Nissan Motor Co., Ltd.; Volkswagen AG; DAF Trucks N.V.
- Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
- Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
- Delivery format: PDF, Word and Excel Data Dashboard.
Executive Summary
Major players in the hybrid truck market are AB Volvo, Daimler Truck Holding AG, Nissan Motor Co., Ltd., Volkswagen AG, DAF Trucks N.V., BYD Auto Co. Ltd., Danfoss, Dongfeng Motor Corporation Ltd., Hino Motors, Ltd., Chevrolet, Nikola Corporation, Toyota Motor Corporation, Ford Motor Company, Mitsubishi Motors Corporation, and Liebherr.
The global hybrid truck market is expected to grow from $21.11billion in 2022 to $22.65 billion in 2023 at a compound annual growth rate (CAGR) of 7.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The hybrid truck market is expected to reach $29.06 billion in 2027 at a CAGR of 6.4%.
The hybrid truck market consists of sales of full hybrid, micro hybrid and mild hybrid trucks. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Hybrid trucks are heavy vehicles with a hybrid propulsion system have either one or more electric motors powered by batteries in addition to an internal combustion engine. These vehicle has larger tires, flexible suspension, and a high ground clearance ratio enable these high-traction trucks to operate over unpaved and forest roads with uneven low-traction surfaces.
North America was the largest region in the hybrid truck market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hybrid truck report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main technology types used in hybrid trucks include parallel hybrid, series hybrid, series-parallel hybrid and plug-in hybrid. A series hybrid is a hybrid-powered vehicle with a basic drive train design that relies on a battery to power the motor that drives the wheels. The various vehicle types include light-duty trucks and heavy-duty trucks for applications in construction and pick-up and delivery vehicles.
A surge in government regulations and policies against diesel and gasoline-powered vehicles is expected to propel the growth of the hybrid truck market. Emerging government regulations for the emission of greenhouse gases and pollution control policies are encouraging truck manufacturers to develop vehicles with alternate fuel-powered consumption vehicles. These government regulations and policies are helping the hybrid truck market expansion. For Instance, in December 2021, the Environmental Protection Agency (EPA), a US-based organization responsible for protecting the environment, approved federal greenhouse gas (GHG) emissions standards for Model Years (MY) 2023 through 2026 for cars and light trucks. The final regulations will reduce pollution, enhance public health, and cost-effectively fuel drivers, resulting in net benefits to Americans of $190 billion. Therefore, the surge in government regulations and policies against diesel and gasoline-powered vehicles is driving the growth of the hybrid truck market.
Technological advancement is a key trend in the hybrid truck market. Major companies operating in the market are developing advanced technology engines and motors, such as zero-emission hybrid powertrain technology, to sustain their position in the market. For instance, in May 2022, US Hybrid, a USA-based company that manufactures power conversion systems, launched near-zero-emission natural gas-powered parallel hybrid powertrain technology for drayage and long-haul trucks. This new technology delivers more power, consumes less fuel, increases efficiency, and has near-zero emissions. This advanced technology will provide near-zero-emission roadside charging assistance to standard long-haul fleet operators, providing versatility and convenience to fleet customers.
In May 2021, Ideanomics, Inc., a US-based electric vehicle company, acquired US Hybrid for an undisclosed amount. The acquisition is expected to enable Ideanomics to diversify its business with the addition of electric powertrain components and fuel cell engines for medium and heavy-duty commercial fleet applications of US hybrid. US Hybrid is a US-based manufacturer of hybrid trucks.
The countries covered in the hybrid truck market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
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Table of Contents
1. Executive Summary
2. Hybrid Truck Market Characteristics
3. Hybrid Truck Market Trends And Strategies
4. Hybrid Truck Market - Macro Economic Scenario
- 4.1. COVID-19 Impact On Hybrid Truck Market
- 4.2. Ukraine-Russia War Impact On Hybrid Truck Market
- 4.3. Impact Of High Inflation On Hybrid Truck Market
5. Hybrid Truck Market Size And Growth
- 5.1. Global Hybrid Truck Historic Market, 2017-2022, $ Billion
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints On The Market
- 5.2. Global Hybrid Truck Forecast Market, 2022-2027F, 2032F, $ Billion
- 5.2.1. Drivers Of The Market
- 5.2.2. Restraints On the Market
6. Hybrid Truck Market Segmentation
- 6.1. Global Hybrid Truck Market, Segmentation By Technology Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Parallel Hybrid
- Series Hybrid
- Series-Parallel Hybrid
- Plug-In-Hybrid
- 6.2. Global Hybrid Truck Market, Segmentation By Vehicle Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Light Duty Truck
- Heavy Duty Truck
- 6.3. Global Hybrid Truck Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Construction
- Pick Up And Delivery Vehicle
7. Hybrid Truck Market Regional And Country Analysis
- 7.1. Global Hybrid Truck Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 7.2. Global Hybrid Truck Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
8. Asia-Pacific Hybrid Truck Market
- 8.1. Asia-Pacific Hybrid Truck Market Overview
- Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
- 8.2. Asia-Pacific Hybrid Truck Market, Segmentation By Technology Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 8.3. Asia-Pacific Hybrid Truck Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
9. China Hybrid Truck Market
- 9.1. China Hybrid Truck Market Overview
- 9.2. China Hybrid Truck Market, Segmentation By Technology Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion
- 9.3. China Hybrid Truck Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion
10. India Hybrid Truck Market
- 10.1. India Hybrid Truck Market, Segmentation By Technology Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 10.2. India Hybrid Truck Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
11. Japan Hybrid Truck Market
- 11.1. Japan Hybrid Truck Market, Segmentation By Technology Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 11.2. Japan Hybrid Truck Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
12. Australia Hybrid Truck Market
- 12.1. Australia Hybrid Truck Market, Segmentation By Technology Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 12.2. Australia Hybrid Truck Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
13. Indonesia Hybrid Truck Market
- 13.1. Indonesia Hybrid Truck Market, Segmentation By Technology Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 13.2. Indonesia Hybrid Truck Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
14. South Korea Hybrid Truck Market
- 14.1. South Korea Hybrid Truck Market, Segmentation By Technology Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 14.2. South Korea Hybrid Truck Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
15. Western Europe Hybrid Truck Market
- 15.1. Western Europe Hybrid Truck Market Overview
- 15.2. Western Europe Hybrid Truck Market, Segmentation By Technology Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 15.3. Western Europe Hybrid Truck Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
16. UK Hybrid Truck Market
- 16.1. UK Hybrid Truck Market, Segmentation By Technology Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 16.2. UK Hybrid Truck Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
17. Germany Hybrid Truck Market
- 17.1. Germany Hybrid Truck Market, Segmentation By Technology Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 17.2. Germany Hybrid Truck Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
18. France Hybrid Truck Market
- 18.1. France Hybrid Truck Market, Segmentation By Technology Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 18.2. France Hybrid Truck Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
19. Eastern Europe Hybrid Truck Market
- 19.1. Eastern Europe Hybrid Truck Market Overview
- 19.2. Eastern Europe Hybrid Truck Market, Segmentation By Technology Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 19.3. Eastern Europe Hybrid Truck Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
20. Russia Hybrid Truck Market
- 20.1. Russia Hybrid Truck Market, Segmentation By Technology Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 20.2. Russia Hybrid Truck Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
21. North America Hybrid Truck Market
- 21.1. North America Hybrid Truck Market Overview
- 21.2. North America Hybrid Truck Market, Segmentation By Technology Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 21.3. North America Hybrid Truck Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
22. USA Hybrid Truck Market
- 22.1. USA Hybrid Truck Market Overview
- 22.2. USA Hybrid Truck Market, Segmentation By Technology Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 22.3. USA Hybrid Truck Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
23. South America Hybrid Truck Market
- 23.1. South America Hybrid Truck Market Overview
- 23.2. South America Hybrid Truck Market, Segmentation By Technology Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 23.3. South America Hybrid Truck Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
24. Brazil Hybrid Truck Market
- 24.1. Brazil Hybrid Truck Market, Segmentation By Technology Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 24.2. Brazil Hybrid Truck Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
25. Middle East Hybrid Truck Market
- 25.1. Middle East Hybrid Truck Market Overview
- 25.2. Middle East Hybrid Truck Market, Segmentation By Technology Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 25.3. Middle East Hybrid Truck Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
26. Africa Hybrid Truck Market
- 26.1. Africa Hybrid Truck Market Overview
- 26.2. Africa Hybrid Truck Market, Segmentation By Technology Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 26.3. Africa Hybrid Truck Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
27. Hybrid Truck Market Competitive Landscape And Company Profiles
- 27.1. Hybrid Truck Market Competitive Landscape
- 27.2. Hybrid Truck Market Company Profiles
- 27.2.1. AB Volvo
- 27.2.1.1. Overview
- 27.2.1.2. Products and Services
- 27.2.1.3. Strategy
- 27.2.1.4. Financial Performance
- 27.2.2. Daimler Truck Holding AG
- 27.2.2.1. Overview
- 27.2.2.2. Products and Services
- 27.2.2.3. Strategy
- 27.2.2.4. Financial Performance
- 27.2.3. Nissan Motor Co., Ltd.
- 27.2.3.1. Overview
- 27.2.3.2. Products and Services
- 27.2.3.3. Strategy
- 27.2.3.4. Financial Performance
- 27.2.4. Volkswagen AG
- 27.2.4.1. Overview
- 27.2.4.2. Products and Services
- 27.2.4.3. Strategy
- 27.2.4.4. Financial Performance
- 27.2.5. DAF Trucks N.V.
- 27.2.5.1. Overview
- 27.2.5.2. Products and Services
- 27.2.5.3. Strategy
- 27.2.5.4. Financial Performance
28. Key Mergers And Acquisitions In The Hybrid Truck Market
29. Hybrid Truck Market Future Outlook and Potential Analysis
30. Appendix
- 30.1. Abbreviations
- 30.2. Currencies
- 30.3. Historic And Forecast Inflation Rates
- 30.4. Research Inquiries
- 30.5. The Business Research Company
- 30.6. Copyright And Disclaimer