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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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Trimble Links SketchUp with Anthropic’s Claude, Bringing New Conversational AI-powered Capabilities to 3D Modeling

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Trusted, intuitive AI enhances design workflows, making it easier to move from creative concepts to 3D models

WESTMINSTER, Colo., April 28, 2026 /PRNewswire/ — Trimble (Nasdaq: TRMB) today announced a specialized integration with Claude, the large language model and AI assistant from Anthropic, that makes it easier for Trimble® SketchUp® software users to create 3D models directly from conversational text or speech prompts.

The powerful new capabilities are enabled by a SketchUp Connector model context protocol (MCP) service that allows Claude to interact directly with SketchUp (.skp) files. The connectivity enhances existing design workflows and expands access to 3D modeling for people at any skill level.

Trimble SketchUp is a professional-grade 3D modeling software used widely in architecture, design, construction and other fields. This is the first Connector created by Trimble that connects the SketchUp design environment with other tools via the MCP framework.

Conversational 3D modeling
The SketchUp Connector integration with Claude lets users create 3D geometry, such as building massing models, landscapes or furniture by simply describing what they want. Plain-language inputs alongside reference images, sketches, photos, floor plans and dimensions that users upload can give Claude the context needed to understand the design goal. Claude builds the geometry in a cloud SketchUp session, verifying dimensions iteratively.

“The learning curve and time it takes for professionals to transfer a vision to a digital model has traditionally been the biggest barrier to 3D modeling,” said Chris Cronin, vice president and general manager of architecture and design solutions at Trimble. “Natural language prompts and the power of AI make it easy for anyone to get started and excel, including inexperienced and non-traditional 3D design users, bringing us closer to our ‘3D for everyone’ goal.”

The specialized Claude integration for SketchUp is consistent with Trimble-wide initiatives to democratize advanced technology and make them available and accessible to a wider range of users, according to Cronin.

Additional 3D modeling advantages
In addition to allowing natural language prompts, the SketchUp Claude Connector tracks version history within a single chat, enabling users to rapidly navigate, troubleshoot and refine their 3D models. If a design is not quite accurate, users can describe necessary changes or paste screenshots from SketchUp directly into the chat to point out specific angles, proportions or elements that need adjustment.

When a model is completed, the Connector creates a 2D preview thumbnail and provides a direct download link to the .skp file. Users can instantly download, open and edit the file in any SketchUp modeler.

Users can also design and train Claude on core skills and unique workflows to complete repetitive tasks more quickly and efficiently.

Availability
Users can get started today by enabling Trimble SketchUp in Claude’s MCP directory connector settings. Accessing the Connector requires a Claude account and a Trimble ID for authentication. Users receive a free SketchUp entitlement that allows them to save up to 30 SketchUp models; after that, a paid entitlement is required. Resulting files can be opened in SketchUp for Web, Desktop, iPad or iPhone.

About Trimble
Trimble is a global technology company that connects the physical and digital worlds, transforming the ways work gets done. With relentless innovation in precise positioning, modeling and data analytics, Trimble enables essential industries including construction, geospatial and transportation. Whether it’s helping customers build and maintain infrastructure, design and construct buildings, optimize global supply chains or map the world, Trimble is at the forefront, driving productivity and progress. For more information about Trimble (Nasdaq: TRMB), visit: www.trimble.com.

FTRMB

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Topaz Labs announces its largest single release of AI models in company history with “Next-Gen” launch

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DALLAS, April 28, 2026 /PRNewswire/ — Topaz Labs, the AI image and video enhancement company, has announced four new image enhancement models and two video enhancement models across five applications. The collection of “Next-Gen” models offer powerful sharpening, denoising, and upscaling results to visual content. Image models included are Wonder 3, Denoise Max, Super Focus 3, and High Fidelity 3. For video, Starlight Precise 2.5 and Astra 2 were announced.

The collection of models offers powerful sharpening, denoising, and upscaling results to visual content.

“This is both the largest and most technically advanced set of models we’ve released in the company’s history,” says Eric Yang, CEO, Topaz Labs. “We launched Topaz NeuroStream earlier this year with the goal of enabling local rendering of complex models for more users. Without such technology, the complex, heavyweight AI models in today’s release would have been limited to cloud-only rendering, forcing users to pay per use and be reliant on internet connection. We believe local use is crucial to the future of AI in both professional and consumer use cases, and today’s release is a huge step.” 

Topaz NeuroStream is proprietary technology that reduces VRAM usage by up to 95% and allows exponentially more users on consumer-grade hardware to use AI models locally. A total of six Topaz models are now powered by NeuroStream.

Next-Gen Release Image Models 

Wonder 3: A magical, one-click sharpen, upscale, and denoise model for images.
Denoise Max: New standard for removing noise and grain in images.
Super Focus 3: Next-level sharpening model that brings subjects back from the blur.
High Fidelity 3: The newest model for upscaling high-res inputs like smartphone photos and RAW images.

All image models in this release are available in Topaz Photo desktop application and via API. Wonder 3 and Denoise Max are also available in Express, a web-based tool.

Next-Gen Release Video Models

Starlight Precise 2.5 (Local): Groundbreaking video model that brings out natural visual details with stunning results, with local availability in Topaz Video

Astra 2: The next generation of creative video upscaling that enhances clarity, richness, and visual complexity of videos by adding new detail.

Both highlighted video models are available via cloud rendering in Astra and API. Starlight Precise 2.5 (Local) can be found in the Topaz Video desktop application.

About Topaz Labs
Founded in 2005, Topaz Labs is a leader in AI-powered image and video enhancement. Its technology is used by 1.5 million customers, including 20 of the world’s top 50 companies. Known for industry-leading products like Topaz Photo, Topaz Video, Topaz Gigapixel, Astra and Bloom, the company continues to invest heavily in research and development, advancing the frontiers of imaging technology in collaboration with academic and industry partners.

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Dreame Technology Launches the L60 Series, Led by the Flagship L60 Pro Ultra

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New lineup brings industry-leading intelligence and full-home automation to a new generation of robot vacuums

SAN FRANCISCO, April 28, 2026 /PRNewswire/ — Dreame Technology, a leader in smart home innovation, today announced the L60 Series, a new lineup of four robot vacuums engineered for the full range of modern home environments. Built on a shared foundation of premium cleaning performance, intelligent navigation, and hands-free automation, the L60 Series is designed to meet the needs of every kind of household, from compact apartments to multi-story homes, and from single-surface layouts to complex mixed-flooring environments.

“The L60 Series represents exactly what Dreame stands for: powerful, intelligent cleaning that adapts to how people actually live,” said Ana Wang, CEO of Dreame Technology North America. “Whether you have a multi-story home, pets, mixed flooring, or low furniture, there’s an L60 built for your needs. Every model in the lineup delivers the core cleaning experience our customers expect from Dreame.”

Meet the L60 Series

The L60 Series is built around four distinct models, each tailored to a different home profile and cleaning priority:

L60 Pro Ultra — The Ultimate All-in-One. The flagship vacuum is purpose-built for large floor plans, multi-surface transitions, and complex terrain. Features the 3.46-inch ProLeap™ System, 35,000Pa Vormax™ Suction, Dual Omni-Scrub Mopping with Hot Water, and an industry-leading 6,400mAh PowerCore™ Battery.L60 Ultra — Precision Whole-Home Coverage. A balanced high-performer built around Dreame’s latest 2026 sensor technology and a 3.23in (82mm) ultra-thin design for precise navigation in low-light spaces and flawless cleaning under low-profile furniture. Includes AI-Enhanced 3D ToF Vision, 35,000Pa Vormax™ Suction, HyperStream™ Detangling DuoBrush 2.0, SmartDirt™ Detection, Pet-Friendly Care 5.0, and Matter, Apple Watch, and Home Screen Shortcut support.L60 Ultra PE (Performance Edition) — The Intelligent Step-Up. An upgraded everyday performer for homes that need an extra boost on hair pickup, with 30,000Pa Vormax™ Suction, the HyperStream™ Detangling DuoBrush, 3DAdapt™ Obstacle Avoidance, and Smart Pathfinder Technology with 220 object type recognition.L60 Ultra FE (Fine Edition) — The Essential Automated Choice. An entry-level powerhouse delivering the core promise of maintenance-free floor care, with 30,000Pa Vormax™ Suction, TriCut Brush 3.0, Dual Flex Arm Technology, and the full PowerDock™ automation experience.

A Shared Foundation of Premium Performance

Every model in the L60 Series shares a core set of capabilities that set a new baseline for modern robot vacuums, including:

212°F (100°C) ThermoHub™ Mop Self-Cleaning for hygienically clean mop pads after every cycle30,000–35,000Pa Vormax™ Suction across the lineup for powerful pickup on every surfaceDual Flex Arm Technology for adaptive side-brush and mop coverage in corners and along edgesMop Lifting for seamless transitions between hard floors and carpetAutomatic Solution Dispensing for consistent cleaning chemistry without manual refillsThe 8-in-1 PowerDock™ base station, which handles auto-empty, mop washing, hot-air drying, and solution management for truly hands-free operation

L60 Pro Ultra: The Flagship Experience, Redefined for Complex Homes

Leading the lineup is the L60 Pro Ultra, featuring select top-tier specifications optimized for large-scale layouts and complex terrains. It pairs the series’ most capable hardware with Dreame’s most advanced intelligence to deliver a seamless, one-stop cleaning experience that effortlessly tackles stubborn stains across expansive and complex home layouts.

At the heart of the Pro Ultra’s navigation advantage is the 3.46-inch ProLeap™ System, the lineup’s most capable obstacle-crossing system, paired with VersaLift Navigation for cleaning under low-clearance furniture. It is equipped with dual-laser 3D structured light, an AI RGB camera, and LED illumination, enabling it to recognize over 280 types of obstacles — for precise, real-time avoidance in any lighting condition.

The Pro Ultra delivers 35,000Pa Vormax™ Suction alongside the HyperStream™ Detangling DuoBrush, together extracting embedded debris, pet hair, and fine particles from every floor type without tangles or jams. Its Dual Omni-Scrub Mopping with Hot Water system pairs rotating mop pads with a Thermal Mop Pad and ThermoHub™ 212°F (100°C) Mop Self-Cleaning, while the AceClean™ DryBoard minimizes residue — eliminating grease, bacteria, and moisture that cold-water systems simply can’t address. An industry-leading 6,400mAh PowerCore™ Battery provides whole-home coverage on a single charge.

The Pro Ultra’s OmniDirt™ Detection Technology identifies high-soil areas and automatically triggers Mop Rewashing and Floor Remopping for a truly thorough result. Pet-Friendly Care 4.0 adds pet-aware detection and navigation, while Upgraded Intelligent Carpet Cleaning optimizes suction and mop behavior for mixed-flooring homes. Direct Voice Control and app control round out the experience for effortless day-to-day use.

Pricing and Availability

The Dreame L60 Series is available now through the Dreame website and Amazon (L60 Pro Ultra, L60 Ultra, L60 Ultra PE, L60 Ultra FE), with launch-offer pricing through the official website. Customers who purchase on dreametech.com receive a free accessory kit with their order.

L60 Pro Ultra — MSRP $1,399.99 | Launch Offer $1,259.99L60 Ultra — MSRP $1,299.99 | Launch Offer $1,169.99L60 Ultra PE — MSRP $1,099.99 | Launch Offer $879.99L60 Ultra FE — MSRP $999.99 | Launch Offer $749.99

For more information about the L60 Series, visit dreametech.com/pages/l60-series-robot-vacuum.

About Dreame Technology

Established in 2017, Dreame Technology is an innovative consumer product company focused on smart home cleaning appliances with the vision to empower lives through technology. Follow us on Facebook, Instagram, TikTok and Twitter. For more information, please visit https://www.dreametech.com/.

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