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Electric Trucks Market to Grow by USD 20.32 Billion (2024-2028), Driven by Demand for Fuel-Efficient, Low-Emission Vehicles and AI’s Impact on Market Trends – Technavio

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NEW YORK, Oct. 2, 2024 /PRNewswire/ — The Global Electric Trucks Market  size is estimated to grow by USD 20.32 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  35.44%  during the forecast period.  Growing demand for fuel-efficient and low-emission vehicles is driving market growth, with a trend towards prominent truck manufacturers venturing into electric trucks market. However, high upfront cost of electric trucks  poses a challenge – Key market players include AB Volvo, BOLLINGER MOTORS LLC, BYD Co. Ltd., Daimler Truck AG, E Force One AG, Ford Motor Co., General Motors Co., Isuzu Motors Ltd., Lordstown Motors Corp., Navistar International Corp., Nissan Motor Co. Ltd., PACCAR Inc., Proterra Inc., Renault SAS, Rivian Automotive LLC, Scania AB, Sinotruk Hong Kong Ltd., Tesla Inc., Toyota Motor Corp., and VDL Groep BV.

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Forecast period

2024-2028

Base Year

2023

Historic Data

2017 – 2021

Segment Covered

Propulsion (Hybrid electric trucks and Battery electric trucks), Vehicle Type (Light trucks, Medium trucks, and Heavy-duty trucks), and Geography (Asia, Europe, North America, and Rest of World (ROW))

Region Covered

Asia, Europe, North America, and Rest of World (ROW)

Key companies profiled

AB Volvo, BOLLINGER MOTORS LLC, BYD Co. Ltd., Daimler Truck AG, E Force One AG, Ford Motor Co., General Motors Co., Isuzu Motors Ltd., Lordstown Motors Corp., Navistar International Corp., Nissan Motor Co. Ltd., PACCAR Inc., Proterra Inc., Renault SAS, Rivian Automotive LLC, Scania AB, Sinotruk Hong Kong Ltd., Tesla Inc., Toyota Motor Corp., and VDL Groep BV

Key Market Trends Fueling Growth

Major automobile manufacturers, including Volvo, Daimler, Ford Motor, Hino Motors, BYD, and Renault, are expanding their product offerings by developing electric truck models to meet the growing demand for sustainable mobility. Notable launches include Ford’s F-150 Lightning pickup truck in April 2022, Renault’s T E-Tech and C E-Tech trucks announced for delivery in 2023, and General Motors’ Hummer Truck expected by early 2022. These initiatives by established automakers are a positive trend in the electric trucks market, as they aim to reduce their reliance on IC engine-based vehicles and cater to evolving consumer preferences. 

Electric trucks are gaining momentum in various industries, particularly in fleet operations. Governments worldwide offer incentives to encourage the adoption of zero-emission vehicles, benefiting both the logistics sector and the environment. Renewable energy sources like solar and wind power are powering charging infrastructure, making electric trucks more sustainable. Mitsubishi Fuso’s eCanter and Mitsubishi Fuso Truck’s hybrid electric trucks lead the market, with Tevva electric trucks emerging as strong competitors. The manufacturing sector, municipalities, e-commerce, and waste management are key adopters, aiming for emission reductions. Manufacturing operations in emerging economies are also embracing electric trucks, driven by stricter emission norms. Battery electric trucks, hybrid trucks, and fuel-cell electric trucks are the main vehicle types, with advancements in battery technology and fast-charging infrastructure pushing the market forward. Major players like Daimler Truck, Hyundai Hydrogen Mobility, Freightliner, and Truck World are investing in electric trucks, focusing on sustainability, efficiency, and reducing greenhouse gas emissions. Light-Duty, Medium-Duty, and Heavy-Duty Trucks are all seeing growth in the electric truck market. Online dashboards and vehicle type insights help fleet operators monitor and optimize their electric truck fleets. 

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Market Challenges

•         The electric trucks market is experiencing growth worldwide, yet the high upfront cost of electric trucks is a significant barrier to adoption. Despite government subsidies and incentives, the price of electric trucks remains higher than that of IC engine-based trucks, averaging between USD150,000 and USD300,000. Price-sensitive markets, such as China, India, and Eastern Europe, are witnessing demand for long-haul trucks but are hesitant to adopt electric trucks due to their high upfront cost. Fleet operators and individual customers with funding constraints can explore financing options to purchase electric trucks. Operating cost savings on electric trucks can be utilized to make loan repayments. Financial institutions can facilitate the adoption of electric trucks by offering attractive financing plans. However, the high upfront cost of electric trucks is anticipated to remain a challenge, impeding the growth of the global electric trucks market during the forecast period.

•         Electric trucks are gaining traction in various industries, particularly in the logistics sector, as fleet operators seek to meet emission norms and reduce greenhouse gas emissions. However, challenges persist. Incentives for electric truck adoption are essential, but charging infrastructure development lags behind. Renewable energy sources like solar and wind power can help, but their availability and reliability are concerns. Mitsubishi Fuso’s eCanter and Hyundai Hydrogen Mobility’s fuel-cell electric trucks are pioneering solutions. Battery electric trucks, like Tevva’s offerings, and hybrid trucks from Mitsubishi Fuso Truck and Freightliner, are popular choices. The logistics sector, e-commerce, municipalities, and emerging economies are embracing zero-emission vehicles. Manufacturing operations face challenges in battery technology and fast-charging infrastructure. Light-Duty, Medium-Duty, and Heavy-Duty Trucks require different battery capacities. Daimler Truck’s Electric Freightliner and Freightliner’s eM2 106 and eCascadia are leading the way. Truck World highlights the importance of sustainability, efficiency, and environment-friendly advanced transportation. Online dashboards provide Vehicle Type Insights for fleet management. Together, we’re moving towards a more sustainable future for trucks.

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Segment Overview 

This electric trucks market report extensively covers market segmentation by

Propulsion 1.1 Hybrid electric trucks1.2 Battery electric trucksVehicle Type2.1 Light trucks2.2 Medium trucks2.3 Heavy-duty trucksGeography 3.1 Asia3.2 Europe3.3 North America3.4 Rest of World (ROW)

1.1 Hybrid electric trucks-  Hybrid electric trucks are gaining traction in the transportation sector due to their long-mile range and cost advantages. These trucks use both IC engines and electric motors, with the electric motor drawing power from a battery charged by an external source or regenerative braking. The segment is witnessing steady growth as manufacturers, such as Daimler, Volvo, and Volkswagen, introduce and expand their hybrid electric truck offerings. Ford Motor and General Motors Co. Are also expected to launch their hybrid pickup truck models by 2024. While battery electric vehicles face limitations due to insufficient charging infrastructure, hybrid electric trucks do not require external charging points for refueling. The dominance of hybrid electric trucks in the global electric trucks market is expected to continue during the forecast period, despite the development and improvement of EV charging infrastructure. Long-haul transport, which consumes a substantial amount of energy in the transportation sector, will significantly benefit from the adoption of electric vehicles, leading to reduced emissions and fuel consumption.

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Research Analysis

Electric trucks are revolutionizing the logistics industry with their sustainability and efficiency benefits. These zero-emission vehicles are gaining popularity in advanced transportation sectors, including light-duty, medium-duty, and heavy-duty trucks. The market growth is driven by battery technology advancements, fast-charging infrastructure development, and increasing emission norms. Sustainability-conscious fleet operators are adopting electric trucks to reduce their carbon footprint and improve operational efficiency. Waste management, municipal services, and e-commerce sectors are early adopters of electric trucks due to their environmental-friendliness. Emerging economies are also showing significant interest in electric truck manufacturing. Tevva electric trucks, for instance, have entered the market with their innovative designs and long battery capacity. Incentives from governments and industries are further boosting the adoption of these vehicles. Fleet operators can monitor their electric trucks’ performance through online dashboards, ensuring optimal usage and maintenance.

Market Research Overview

Electric trucks are revolutionizing the logistics industry with their sustainability and efficiency benefits. Battery technology and fast-charging infrastructure are key components of this advanced transportation system. The market for electric trucks spans various vehicle types, including light-duty, medium-duty, and heavy-duty trucks, used in sectors like waste management, municipal services, e-commerce, and manufacturing operations. Sustainability-conscious fleet operators are increasingly adopting zero-emission vehicles to reduce greenhouse gas emissions and meet stricter emission norms. Companies are investing in electric truck manufacturing, with players like Mitsubishi Fuso introducing models such as eCanter and eFuso. Hybrid electric trucks, battery electric trucks, and fuel-cell electric trucks are also gaining popularity. Renewable energy sources like solar and wind power are being integrated into charging infrastructure to ensure a sustainable energy supply. Incentives from governments and industries are further boosting the adoption of electric trucks. Companies like Hyundai Hydrogen Mobility, Freightliner, and Tevva are leading the charge in this sector with innovative electric truck models like the Freightliner eM2 106, eCascadia, and Tevva electric trucks. Emerging economies are also embracing electric trucks as part of their transportation future.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

PropulsionHybrid Electric TrucksBattery Electric TrucksVehicle TypeLight TrucksMedium TrucksHeavy-duty TrucksGeographyAsiaEuropeNorth AmericaRest Of World (ROW)

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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In HelloNation, Custom Fabrication Expert Mark Coyle Explains a Common Mistake in Custom Aluminum Design

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The article explains why smart geometry, not thicker walls, creates stronger, more efficient aluminum components.

ROCHESTER, N.Y., Oct. 24, 2026 /PRNewswire/ — What early design choice causes many custom aluminum projects to become heavier, costlier, or harder to manufacture? That question is addressed in a HelloNation article featuring insights from Custom Fabrication Expert Mark Coyle of American Custom Metals, Inc. in Rochester, New York, that outlines how misunderstanding aluminum behavior leads designers to rely on thick walls instead of stronger geometry.

The article begins by explaining that many people assume thicker walls automatically make aluminum parts stronger. It notes that aluminum does not respond to wall thickness the way steel does. Instead, its performance is shaped by how the metal flows through the extrusion die. The article states that custom aluminum design is more effective when profiles use ribs, chambers, and flanges to create stiffness without adding unnecessary weight. This guidance helps readers understand why adding material often increases cost without improving strength.

The article also highlights that thicker walls change how aluminum moves during extrusion. When heavy areas fill more slowly, the metal cools unevenly and can develop stress that only appears later. The HelloNation piece explains that well-balanced geometry keeps extrusion smooth and predictable. This consistency makes it easier to maintain dimensional accuracy across long production runs. By focusing on geometry, custom aluminum design avoids the problems that come with slow extrusion speeds and uneven cooling.

Another insight in the article centers on how ribs and internal supports influence stability. It describes how a thin wall supported by a properly placed rib often performs better than a thick wall with no reinforcement. This happens because the rib helps distribute load, improve stiffness, and guide the aluminum as it cools. The article explains that this structural approach makes custom aluminum design more efficient and gives designers more control over how the final part behaves under pressure.

The article also shows why early collaboration between designer and fabricator prevents costly changes. It states that a fabricator familiar with extrusion can catch potential issues before a die is built. Small adjustments to corners or transitions can remove weak points or improve metal flow. The article notes that this teamwork keeps the design aligned with real-world production. By working together early, both sides reduce the risk of redesigning the die after the first test run.

Machining is another area where the article explains how wall thickness affects performance. Features such as deep pockets or sharp internal angles may require slow feed rates or special tooling. When walls are thicker than needed, those areas can become difficult to machine cleanly. The article states that thoughtful custom aluminum design makes machining more predictable. Small changes, such as adding radiused edges or sizing features to match standard tools, help shorten cycle times and prevent tool wear.

Thermal behavior receives detailed attention as well. The article explains that aluminum retains heat differently depending on the mass of each section. Thicker walls hold heat longer, which increases the chance of distortion during extrusion, machining, or finishing. When a design uses geometry to create strength, the material cools more evenly. This reduces warping and helps long profiles stay aligned. The article notes that stable cooling is important for components that require a precise fit and consistent shape throughout an entire production run.

Cost is also a key topic in the article. It states that heavier profiles increase material use, extrusion time, and tooling needs. A custom aluminum design that relies on geometry instead of mass lowers material consumption and keeps the fabrication process efficient. The article explains that lighter parts are easier to handle, ship, and assemble. This saves money across multiple stages of production and supports long-term manufacturing efficiency.

The article also notes that smart custom aluminum design creates profiles that behave predictably during extrusion and machining. Smooth transitions, balanced wall dimensions, and structural features help reduce the chance of distortion or dimensional drift. These elements also lower scrap rates and support reliable performance. By using geometry instead of excess material, designers build parts that maintain strength without compromising manufacturability.

As the article concludes, it emphasizes that avoiding thick walls is one of the best ways to improve performance and lower cost. It states that the most dependable custom aluminum components come from designs that use structural features to strengthen the profile. When designers understand how aluminum behaves at each stage of extrusion and machining, they create parts that are strong, efficient, and consistent from batch to batch. This approach turns custom aluminum design into a predictable process rather than a series of uncertain adjustments.

A Common Mistake in Custom Aluminum Design features insights from Mark Coyle, Custom Fabrication Expert of Rochester, NY, in HelloNation.

About HelloNation
HelloNation is America’s Good News Network, a premier media platform built on the idea that good news travels faster when real people tell real stories. Through its community-focused publications and innovative “edvertising” approach, HelloNation delivers content that informs, inspires, and spotlights the leaders making a meaningful impact in their communities.

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SOURCE HelloNation

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World Young Scientist Summit 2026 Opens in Wenzhou, Zhejiang

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WENZHOU, China, Oct. 24, 2026 /PRNewswire/ — This is a report by China Daily:

On October 24, the World Young Scientist Summit 2026 opened in Wenzhou, Zhejiang. The event is hosted by the China Association for Science and Technology (CAST), the Zhejiang Provincial People’s Government, and the World Association of Young Scientists. Nearly 800 representatives, including scientists, educators, and entrepreneurs from more than 60 countries and regions, are attending the summit.

He Junke, Vice President of CAST in charge of daily work and First Secretary of its Secretariat; Lian Yimin, Chairman and Party Group Secretary of the Zhejiang Provincial Committee of the Chinese People’s Political Consultative Conference; Marcelo Knobel, Executive Director of The World Academy of Sciences; and Zhang Zhenfeng, Member of the Standing Committee of the CPC Zhejiang Provincial Committee and Secretary of the CPC Wenzhou Municipal Committee, attended the summit and delivered remarks. Yao Gaoyuan, Vice Governor of the Zhejiang Provincial People’s Government, presided over the first segment of the plenary session.

With the theme “Gathering Talents Worldwide to Create a Better Future,” the summit’s annual agenda is “Global Youth Action in the AI Era: Building a Sustainable Future.” It aims to draw on the insights of young people around the world, deepen international sci-tech cooperation, and jointly address questions about young people, science, the world and the future.

Efim Zelmanov, Fields Medalist and Foreign Member of the Chinese Academy of Sciences; Chen Yunji, Deputy Director of the Institute of Computing Technology, CAS, and Director of the National Key Laboratory of Processor Chips; Mary Garson, President of the International Union of Pure and Applied Chemistry; and Lu Chaoyang, Member of the Standing Committee of CAST, Executive Dean of the Shanghai Institute of Advanced Study, University of Science and Technology of China, and Chairman of the Council of the World Association of Young Scientists, delivered keynote speeches respectively on education reform in the AI era, AI and processor chips, young women scientists’ participation in science, and quantum computing. They explored new opportunities for scientific research, talent cultivation, and international cooperation in the AI era.

This year’s summit placed greater emphasis on the growth needs of young scientists, with young talents under the age of 45 accounting for 88 percent of participants. It aimed to build a cluster of international journals, bring together young scientific talent, facilitate a batch of international collaborative projects and advance the application and commercialization of scientific and technological achievements. The summit released the Report on the Distribution and Mobility of Young Scientists in the Field of Embodied Intelligence, launched the World Young Scientist Summit Partner Journal Program and the 2026 World Young Scientist Innovation and Entrepreneurship Growth Support Program. It also published the “Young Scientist Pioneers 2035” list and announced the 2026 Sustainable Development Young Scientist Award. The awards were presented to four Chinese and foreign scientists.

Chen Tianrun, Founder of Hangzhou Moxin Technology Co., Ltd.; Yuan Yang, Assistant to the Dean of the Institute for Interdisciplinary Information Sciences at Tsinghua University; and two of the 2026 Sustainable Development Young Scientist Award winners, César de la Fuente and Nicola Segata, among other Chinese and foreign young scientist representatives, spoke at the flash-talk session to share their research practices and reflections.

In addition, the conference focused on fields such as future manufacturing, quantum information, embodied intelligence, brain-computer intelligence, environmental science, deep-sea resources, and life and health, and held 12 parallel forums. It also included the “Gravitation π” Future Technology and Concept Products Exhibition and Exchange, local thematic side events, and sci-tech and humanities study visits, further building an interdisciplinary, cross-regional and cross-sector platform for youth sci-tech exchange and cooperation.

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SOURCE China Daily

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The Ultimate Send-off to Summer: CSTS Debuts Global Entertainment IP PremierX at New York’s Pier 17, Ushering in a New Era of Live Entertainment

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NEW YORK, Oct. 24, 2026 /PRNewswire/ — CSTS Enterprises (‘CSTS’), a New York-based sports, entertainment, integrated media and travel technology group, today announced the official launch of PremierXTM, its flagship live entertainment brand, with a landmark Halloween Weekend event “AFTER DARK” at The Rooftop at Pier 17 in New York on October 30, 2026.

Capping off Seaport’s 2026 Summer Season in unforgettable fashion, the grand finale brings a powerhouse lineup of stars to the PremierXTM stage at Pier 17, featuring Lil Xan, Armani White, DJ Soda, Nate Wyatt, and surprise A-list guest headliners. Set against the iconic Manhattan skyline, the landmark eventing unites chart-topping hip-hop and high-octane electronic music for a festival-grade experience as The Rooftop at Pier 17 transforms into the city’s premier live music destination.

Building on the momentum of the PremierXTM After Party for the 2026 World Cup Final that took place in New York on July 19th, “AFTER DARK” signals the official debut of PremierXTM, a proprietary, New York – born global entertainment IP created by CSTS to deliver defining cultural experiences at the intersection of music, sport, art and lifestyle. Centred on the power of cultural crossover, PremierXTM serves as an international bridge connecting East and West, modern innovation and timeless classical, while uniting world-class artists, creators, performers and audiences through the universal language of entertainment and premium live experiences.

The launch also marks the beginning of a promising relationship with Pier 17, providing a world-class stage for PremierXTM to accelerate its growth in the U.S. and engage international audiences over the long term. By combining PremierXTM’s global entertainment vision with Pier 17’s iconic waterfront setting, the partnership aims to create a premier destination for live experiences, empowering both platforms to expand their global reach, deepen audience engagement, and drive sustainable growth.

As a key pillar of CSTS’ integrated ecosystem spanning entertainment, sports, travel, integrated media and marketing solutions, PremierXTM further strengthens the Group’s ability to create high-impact experiences that connect audiences, destinations and brand partners. With the global live entertainment market projected to grow from approximately US$203 billion in 2025 to US$270 billion by 2030[1], PremierXTM is well-positioned to capitalize on the growing demand for premium, experience-led entertainment while creating long-term value to the Group through recurring audience engagement, tourism and brand partnerships.

“PremierX TM represents a significant milestone in CSTS’ evolution from a leading operator of global sports and hospitality platforms into a creator of world-class entertainment experiences,” said Abel Zhao, Group CEO and Executive Director at CSTS Enterprises. “The season finale at Pier17 marks the beginning of an exciting new chapter for CSTS as we expand our entertainment footprint and introduce a platform designed to deliver iconic live experiences and bring together artists and audiences from across the globe.”

“PremierXTM was built from the ground up as a bespoke platform to champion multicultural talent and visionary creative performers.” said Jason Liu, Regional Director of CSTS USA. “Starting from New York, we are building a scalable global brand that brings iconic live experiences to audiences worldwide while expanding our presence across key entertainment hubs in North America, Asia and Europe.”

Following its New York launch, PremierXTM plans to expand through a broader international rollout across North America, Asia and Europe, with future editions planned as part of a growing network of recurring live entertainment properties and flagship cultural events.

For ticket information on PremierXTM: “AFTER DARK”, visit
https://www.axs.com/events/1644912/after-dark-tickets

About CSTS Enterprises

CSTS Enterprises is an integrated media, entertainment, sports, and travel technology group. Headquartered in New York City, the company develops and partners with intellectual properties and brands to deliver compelling experiences that connect with audiences across the world. In addition to its own initiatives, including Generation CTM and PremierXTM, it collaborates with international IPs including FIFA World Cup, UEFA European Championship, and Formula 1.

CSTS integrates experiential marketing, travel, data, and technology to deliver seamless end-to-end audience experiences. The company engages consumers across physical events and digital channels, executing at scale worldwide, turning complex activations into co-ordinated, measurable outcomes.

[1] Source: Industry research by Markets and Markets, Live Entertainment Market Size, Share, Latest Trends & Growth Analysis, 2025-2030, Live Entertainment Market Size, Share, Latest Trends & Growth Analysis, 2025-2030.

 

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SOURCE CSTS Enterprises

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