![]() ![]() In addition, in electric trucks, motors inside have fewer parts moving as compared to diesel truck and do not need multi-speed transmissions, which, in turn, reduces maintenance cost of vehicles and improves reliability with almost zero noise pollution. This sector was thus, less affected by the pandemic.Įlectric trucks can be defined as commercial vehicles that are powered by pack of batteries and are used for transportation of cargos. The sales of electric vehicles increased in 20 due to the growing trend of vehicle electrification around the world. ![]() However, during the second half of 2020, the sales increased and, in most cases, compensated the losses for those past months. Nevertheless, the demand for electric trucks is expected to gain traction after the lockdown restrictions are relaxed. Closing down the factories resulting in the expulsion of the workers and the terror of stagnation due to coronavirus are leading to a significant decline in the sales of the electric trucks in first and second quarter of the 2020. The overall automobile market suffered losses in the initial months of the pandemic when sales of vehicles reduced drastically due to government declared lockdowns. ![]() The global electric truck market was valued at $392.3 million in 2020, and is projected to reach $3,861.8 million by 2030, registering a CAGR of 26.4% from 2021 to 2030. ![]()
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