Market Potential Assessment of Class 3 Electric Trucks Market – Global Analysis & Forecast, 2019 – 2030

Report ID : 171  |  Region : Global

To address the concerns related to climate change, there has been an incessant demand for sustainable and environmentally-friendly solutions. Transportation is one industry where this issue has gained lot of traction. Electric vehicles do not need any introduction as a sizeable population is aware of the capabilities and benefits of electric propulsion. The technology is expected to be a game changer in achieving efficient and clean transportation.

Recently, there has been a wave of excitement over electric-propelled vehicles for commercial use. With the advent of electric-powered Class 3 trucks, electric trucking revolution got underway. Class 3 electric trucks are set to be major disruptors in the automotive industry. These vehicles offer humongous benefits to its stakeholders as they eliminate all fossil fuel requirements along with the pollutants associated with internal combustion engines. Class 3 trucks ensure that vehicle maintenance requirements are drastically reduced through elimination of oil changes, tune-ups and general internal combustion engine challenges. Volatile nature of changing fuel pricing can drastically and adversely impact operating costs associated with vehicles. However, use of Class 3 trucks are likely to curtail such costs.

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