In 2021, Switzerland recorded the largest heavy-duty electric truck market in Europe, with around 77 vehicles. It was followed by Norway, at 56 heavy electric commercial vehicles. Norway led the way in terms of electric passenger vehicles in the region.

The Report covers Electric Trucks in Europe and the Market has been segmented by Propulsion type (Plug-in Hybrid, Fuel Cell Electric, and Battery Electric), Truck (Light Truck, Medium-duty Truck, and Heavy-duty Truck), Application (Logistics, Municipal, and Other Applications), and Country (Germany, United Kingdom, France, Italy, Netherland, Spain and the Rest of Europe).

In 2023, France recorded the highest number of light commercial vehicle (LCV) sales, with some 378,000 vehicles sold. This figure represents an increase of nearly 8.9 percent from the previous year. The second-ranked UK sold some 343,400 units year-to-date, a rise of around 21 percent year-on-year. Lithuania, Cyprus, and Denmark were the countries recording the steepest decline in sales year-over-year. Delivery vehicles provide a lifeline in times of crisis In 2020, light commercial vehicle sales slumped across Europe when the coronavirus pandemic brought parts of society to a standstill. Commercial vehicles are more likely to have a business-related customer base than cars. However, as online retail surged during the pandemic, the logistics industry emerged as a driver of light commercial vehicle demand. Europe’s second-largest light commercial vehicle market, the UK, saw record high registration figures in October 2020, with the Ford Transit Custom topping the charts as the best-selling light commercial vehicle in the UK. Electrifying the light commercial vehicle fleet Electric light commercial vehicles have the potential to significantly reduce the carbon emissions of the transportation industry. But passenger cars are electrified at a much faster rate than commercial vehicles. Major European manufacturers have indicated that model ranges will soon be available as fully electric. Electric vans are already cost competitive in some European nations. Norway is a world leader for the adoption of battery electric vehicles - the market share of plug-in LCVs in Norway doubled over the space of four years.

The Europe Medium and Heavy-duty Commercial Vehicles Market is segmented by Vehicle Type (Commercial Vehicles), by Propulsion Type (Hybrid and Electric Vehicles, ICE) and by Country (Austria, Belgium, Czech Republic, Denmark, Estonia, France, Germany, Ireland, Italy, Norway, Poland, Russia, Spain, Sweden, UK, Rest-of-Europe). The report offers market size in both market value in USD and market volume in unit. Further, the report includes a market split by Vehicle Type, Vehicle Configuration, Vehicle Body Type, Propulsion Type, and Fuel Category.

Snapshot img

Europe Heavy-Duty Trucks Market Size 2025-2029

The heavy-duty trucks market in Europe size is forecast to increase by USD 19.44 billion billion at a CAGR of 8.5% between 2024 and 2029.

The market specifically for heavy-duty trucks, is experiencing significant growth in various regions, with a notable increase in demand in Eastern Europe. A key trend driving this growth is the shift towards alternative fuels, such as hydrogen and electric trucks, to reduce emissions and promote sustainability. However, the high cost of heavy-duty trucks remains a challenge for many buyers, leading to the rise of truck rental services and fleet management solutions. In the US and North America, the construction, logistics, and e-commerce industries are major consumers of heavy-duty trucks. These industries are increasingly adopting smart city technologies, such as LED lighting and stainless steel bodies, to enhance efficiency and durability.


Additionally, the demand for specialized trucks, such as dump trucks and SPAs, continues to grow in the construction sector. Overall, the heavy-duty truck market is expected to witness continued growth, driven by these trends and challenges, and the adoption of advanced technologies to improve fuel efficiency and reduce emissions.

What will be the Size of the market During the Forecast Period?

Request Free Sample

The heavy-duty trucks market encompasses the production and sale of commercial vehicles designed for long-distance transportation and extreme situations. These vehicles, including heavy commercial vehicles and trailers, exhibit strong construction and powerful engines, enabling them to carry significant weight and traverse various terrains. The market caters to diverse industries such as long-distance freight transportation, mining operations, and industrial activities. Sustainability goals are increasingly influencing market trends, with a growing emphasis on alternative fuel vehicles and fleet modernization. Autonomous heavy-duty trucks are gaining traction as a potential solution for increased efficiency and reduced operational costs. Regulatory pressure to reduce emissions is another significant factor driving market evolution. The market is a dynamic and evolving sector, continually adapting to meet the demands of various industries and societal expectations.

How is this market segmented and which is the largest segment?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Type

  3.5 to 16 tonnes
  Over 16 tonnes


Fuel Type

  Diesel powered
  Gasoline powered
  Electric powered
  Solar powered


Propulsion

  Internal combustion engine (ICE)
  Hybrid and electric vehicles (HEV and BEV)


Geography

  Europe

    France
    Germany
    Italy
    UK

By Type Insights

The 3.5 to 16 tonnes segment is estimated to witness significant growth during the forecast period.

Heavy-duty trucks, with weight capacities ranging from 3.5 to 16 tonnes, play a pivotal role in various industries and applications due to their adaptability. These trucks are ideal for local and regional transport tasks, including food distribution, parcel delivery, and construction projects. Their smaller size and maneuverability enable efficient navigation in urban and suburban environments. In the construction industry, HD trucks are utilized for transporting materials within a city or region. The Asia Pacific region, driven by emerging economies and smart city initiatives, presents significant growth opportunities for commercial vehicles, including HD trucks. Additionally, the e-commerce industry's wave in demand for last-mile delivery solutions further bolsters the market for HD trucks.

In the mining sector, dump trucks and mining vehicles are essential for resource extraction and industrial activities. Advanced driver-assistance systems, load-carrying capacities, and safety features are crucial considerations for HD trucks. The adoption of green technologies, such as battery-powered trucks, hydrogen trucks, and alternative fuel trucks, is on the rise due to environmental regulations and sustainability initiatives. Fleet management systems, real-time tracking, and tracing solutions are also increasingly important for optimizing operations and reducing costs. The global market for heavy-duty trucks is expected to grow significantly due to economic expansion, freight demand, and infrastructure projects in industrial zones.

Get a glance at the market report of share of various segments Request Free Sample

Market Dynamics

Our Europe Heavy-Duty Trucks Market researchers analyzed the data with 2024 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine thei

The report covers Europe Medium and Heavy-Duty Truck Rental/Leasing Companies and is Segmented by Booking Type (Offline Booking and Online Booking), Rental Type (Short-term and Long-term Leasing), and Country (Germany, United Kingdom, France, Spain, Italy, and the Rest of Europe). The report offers market size and forecast for the European medium and heavy-duty truck rental/leasing market in value (USD billion) for all the above segments.

In 2023, Germany was the leading country in the European Union (EU27) for medium and heavy commercial vehicle and bus new registrations. It recorded the highest number of sales with some 94,800 vehicles sold. This figure represents an increase of 24.4 percent from the previous year when close to 76,200 sales were registered.

The Europe Light Commercial Vehicles Market is segmented by Vehicle Type (Commercial Vehicles), by Propulsion Type (Hybrid and Electric Vehicles, ICE) and by Country (Austria, Belgium, Czech Republic, Denmark, Estonia, France, Germany, Ireland, Italy, Latvia, Lithuania, Norway, Poland, Russia, Spain, Sweden, UK, Rest-of-Europe). The report offers market size in both market value in USD and market volume in unit. Further, the report includes a market split by Vehicle Type, Vehicle Configuration, Vehicle Body Type, Propulsion Type, and Fuel Category.

European Fork-Lift Trucks Market Size Value by Country, 2023 Discover more data with ReportLinker!

In 2022, Germany remained the largest market for heavy commercial vehicle sales, with some 55,000 vehicles. The country was also the third-largest European market for commercial sales in 2022. Despite its leading status in new heavy commercial vehicle registrations, Germany saw a slight decline in registrations from the previous year. France -the second-largest market in terms of new commercial heavy vehicle registrations -witnessed a rise of two percent in registrations between 2021 and 2022. The United Kingdom, on the other hand, experienced a substantial increase of 13 percent as compared to the previous year. In 2021, the UK faced uncertainty due to a feeble Brexit deal.

In 2020, the shift in new vehicle registrations correlated with the advent of the Covid-19 pandemic. In the first quarter of 2020, truck manufacturers were forced to shut down production plants in Europe. However, figures for 2021 and 2022 show signs of revival; there has been an overall increase of seven percent in new heavy vehicle commercial registrations in the entirety of Europe.

Commercial vehicle registrations in Europe have increased by an overall 15.1 percent in 2023, an increase which has been felt in most countries in the region following the drop in 2022. That year, France recorded the highest number of commercial vehicle sales. Close to 433,700 new vehicles were registered there during that period.

France is in the lead for new commercial vehicle registrations Not only are France, the United Kingdom, and Germany among the leading European markets in terms of new passenger car registrations, but they are also the most important markets in terms of commercial vehicle sales. France was the principal market for light commercial vehicles whereas the United Kingdom was at the top of the rankings for medium and heavy-duty truck and bus sales. After record low sales of domestic light goods vehicles in April 2020 linked to the Covid-19 pandemic, the United Kingdom rebounded and remains a key market in terms of overall sales.

European manufacturers are key players in the region France and Germany are home to key players in the commercial vehicle manufacturing market, including Renault and Daimler Truck, as well as Volkswagen’s MAN and Scania. In the 2021 financial year, Daimler Trucks contributed close to 40 billion euros to the industry’s total revenue. That year, Mercedes-Benz amounted to 19 percent of the medium and heavy commercial vehicle market in Europe, followed by MAN and DAF. French brands, by contrast, were the most popular of the light commercial vehicle segment.

Snapshot img

Pickup Truck Market Size 2025-2029

The pickup truck market size is forecast to increase by USD 112.9 billion at a CAGR of 5.2% between 2024 and 2029.

The market is experiencing significant growth, driven by the increasing utility of these vehicles in various sectors, including construction, agriculture, and transportation. This trend is particularly prominent in regions with large economies and a strong focus on infrastructure development, such as North America and Asia-Pacific. Another key driver is the ongoing shift towards the use of lighter materials in pickup truck manufacturing, which helps improve fuel efficiency and reduce emissions, making these vehicles more environmentally friendly and cost-effective to operate. However, the market also faces challenges, with increasing stringency of fuel efficiency and emission standards posing significant hurdles for manufacturers. To capitalize on market opportunities and navigate these challenges effectively, companies must stay abreast of technological advancements and regulatory requirements, and explore innovative solutions to enhance the functionality and sustainability of pickup trucks.

What will be the Size of the Pickup Truck Market during the forecast period?

Request Free SampleThe market encompasses a significant segment of the commercial vehicle industry, with these versatile vehicles catering to various sectors, including construction and infrastructure, logistics, and recreational use. Pickup trucks, as light-duty vehicles known for their cargo carrying capacity, continue to gain popularity due to their applicability to commercial purposes. The market's size and direction are influenced by several predefined factors, such as rapid economic growth, rising disposable incomes, and the increasing demand for B2C enterprises to streamline their operations. Vehicle registries and car dealers serve as essential touchpoints for consumers, providing access to specifications and base models tailored to their needs. Automobile manufacturers continually innovate, integrating safety features, connectivity options, and environmental consciousness into their offerings. The complexity of pickup trucks, which can serve both on-road and off-road functions, adds to their appeal. As the logistics industry and environment agencies increasingly prioritize sustainability, pickup trucks are evolving to meet these demands while maintaining their rugged and reliable nature.

How is this Pickup Truck Industry segmented?

The pickup truck industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments. TypeECCCRegular cabProductFull-size pickup truckSmall-size and mid-size pickup truckGeographyNorth AmericaUSCanadaAPACAustraliaChinaIndiaJapanEuropeFranceGermanyUKSouth AmericaBrazilMiddle East and Africa

By Type Insights

The eccc segment is estimated to witness significant growth during the forecast period.Pickup trucks, as commercial vehicles, continue to gain popularity in various industries due to their cargo carrying capacity and versatility. Extended cab and crew cab models cater to different customer preferences, with extended cabs offering smaller rear seats and access doors, and crew cabs providing two rows of seats and full-size doors. These vehicles serve commercial purposes, such as logistics and construction, as well as individual use for recreational activities. New passenger cars and base models face intense competition from pickup trucks in the market. Predefined factors, including vehicle registries, car dealers, and environmental agencies, influence consumer spending trends. The E-commerce sector's rapid economic growth and industrialization contribute to the increasing demand for pickup trucks. Fuel efficiency and propulsion type are essential considerations for pickup trucks. Diesel, gasoline, hybrid, and electric pickup trucks cater to various customer preferences and environmental consciousness. The diesel engine segment and electric propulsion systems are key areas of product innovation. Factors like fuel prices, economic conditions, and safety features also impact the market. Battery technology advancements and compact models are emerging trends. The light-duty vehicles' cargo capacity and commercial use, whether for heavy-duty applications or individual use, remain significant factors. In , pickup trucks' versatility, practicality, and cargo carrying capacity make them indispensable for various industries and individual use. Factors like fuel efficiency, propulsion type, and environmental concerns continue to shape the market.

Get a glance at the market report of share of various segments Request Free Sample

The ECCC segment was valued at USD 240.70 billion in 2019 and showed a gradual increase during the fo

According to Cognitive Market Research, The Global Electric Truck market will be USD 41815.2 million in 2024 and expand at a compound annual growth rate (CAGR) of 25.6% from 2024 to 2031.

North America Electric Trucks Market held 40% of the worldwide revenue with a market size of USD 16726.08 million in 2024 and will expand at a CAGR, commonly known as the compounded annual growth rate of 23.80% from 2024 to 2031.
Europe Electric Trucks Market held 30% of the worldwide USD 12544.56 million in 2024.
Asia Pacific Electric Trucks Market held 23% of the worldwide revenue with a market value of USD 9617.50 million in 2024 and will grow at a compound annual growth rate (CAGR) of 27.6% from 2024 to 2031.
South America Electric Trucks market held 5% of the worldwide revenue with a market value of USD 2090.76 million in 2024 and will grow at a compound annual growth rate (CAGR) of 25% from 2024 to 2031.
Middle East and Africa Electric Trucks Market held 2% of the worldwide revenue with a market size of USD 836.30 million in 2024 and will grow at a compound annual growth rate (CAGR) of 25.3% from 2024 to 2031.
The sales in the light-duty trucks category are high because electric car manufacturers are releasing a new variety of vehicles with exceptional towing capacity; it is anticipated that the market for light-duty trucks will rise.
Medium-duty trucks are the fastest-growing category over the forecasted timeframe. The countries with the most demand for medium-duty vehicles are China, the United States, and Europe. Therefore, increasing medium-duty truck applications has a favorable effect on the market expansion.

Growing Need for Electric Vehicles in the Transportation and Other Sectors to Increase the Demand Worldwide

In the major EV markets globally, there has been an increase in demand for battery-powered vehicles in the logistics industry. Growth in medium- and heavy-duty trucks is anticipated. Adopting electric vehicles (EVs) can boost the industry's long-term profitability because EVs need significantly less money to charge than other fuels.

For instance, the US Postal Service ordered transport trucks with Workhorse Group (US) in January 2022. By 2030, the World Economic Forum projects a 36% rise in the number of inner-city delivery vans.

(Source: https://time.com/6242616/us-postal-service-trucks-going-electric/)

Surge in the E-commerce Industry to Propel Market Growth

The market for electric trucks will be driven by increased use in the e-commerce industry. The market for electric trucks is anticipated to grow shortly due to the growing usage of these vehicles for last-mile deliveries of products from warehouses to clients. To reduce pollutants and fuel costs, businesses are considering adding electric vehicles and battery-powered pickups to their fleets.

For instance, according to Performance Team (US), in October 2022, in response to client demand for environmentally friendly short haul storage and distribution center operations, Class 8 battery-electric vehicles from Volvo Vehicles North America will be deployed in Southern California.

(Source: https://www.maersk.com/news/articles/2022/10/06/performance-team-deploys-first-deliveries-of-volvo-vnr-electric-trucks)

Market Restraints of the Electric Truck

Exorbitant Price of Current Electric Vehicles to Limit the Sales

One of the main obstacles to the broad adoption of electrical trucks has been their high production costs. The overall cost of buying these vehicles should decrease as the market for electric trucks increases over the next ten years due to declining battery prices and lower R&D expenses. Due to the high cost of the rechargeable lithium-ion batteries that these trucks require, electric trucks are often far more expensive than their internal combustion engine equivalents. Because designing electric trucks is an expensive process, manufacturing these vehicles is likewise significantly more expensive than internal combustion engine trucks. Because better-range electric vehicles require more sophisticated batteries and advanced production techniques, developing them has become more expensive.

Impact of COVID-19 on Electric Truck Market

The unexpected COVID-19 pandemic breakout had a detrimental effect on the market for electric trucks. The nations' lockdown, intended to slow the virus's spread, ended efforts to produce and develop e...

The Europe Road Freight Transport Market is segmented by End User Industry (Agriculture, Fishing, and Forestry, Construction, Manufacturing, Oil and Gas, Mining and Quarrying, Wholesale and Retail Trade, Others), by Destination (Domestic, International), by Truckload Specification (Full-Truck-Load (FTL), Less than-Truck-Load (LTL)), by Containerization (Containerized, Non-Containerized), by Distance (Long Haul, Short Haul), by Goods Configuration (Fluid Goods, Solid Goods), by Temperature Control (Non-Temperature Controlled, Temperature Controlled) and by Country (France, Germany, Italy, Netherlands, Nordics, Russia, Spain, United Kingdom). Market Value (USD) and Market Volume (ton-km) are both presented. Key Data Points observed include Freight Transport Volume (ton-km) by Destination and End User; Production Trends (Manufacturing, E-Commerce etc. in USD); Import and Export trends (in USD); and Freight Pricing Trends (USD per ton-km).

The Europe Electric Commercial Vehicle Battery Pack Market is segmented by Body Type (Bus, LCV, M&HDT), by Propulsion Type (BEV, PHEV), by Battery Chemistry (LFP, NCA, NCM, NMC, Others), by Capacity (15 kWh to 40 kWh, 40 kWh to 80 kWh, Above 80 kWh, Less than 15 kWh), by Battery Form (Cylindrical, Pouch, Prismatic), by Method (Laser, Wire), by Component (Anode, Cathode, Electrolyte, Separator), by Material Type (Cobalt, Lithium, Manganese, Natural Graphite, Nickel) and by Country (France, Germany, Hungary, Italy, Poland, Sweden, UK, Rest-of-Europe). Market Size is represented by the total volume of EV battery packs sold, measured in kilowatt-hours (kWh), along with the Market Value in USD. Key data points observed include the total energy capacity of battery packs sold, expressed in kilowatt-hours (kWh), segmented by battery chemistry, the capacity range of each battery pack, and the specific application or vehicle type associated with each battery chemistry segment.

Germany accounted for the largest market share of the European electric truck market in 2019, at 563 units. This number is projected to grow by a compound annual growth rate of over 59 percent between 2020 and 2026, to reach a fleet of just under 6,000 vehicles in 2026. That same year, the European market is forecast to represent around six percent of the global electric truck market.

European Fork-Lift Trucks and Other Works Trucks Fitted with Lifting or Handling Equipment Market Size Volume by Country, 2023 Discover more data with ReportLinker!

The Europe Automotive Navigation System market is segmented by vehicle type (passenger car and commercial vehicle), technology type (aftermarket IVS, factory fitted IVS, Personal Navigation Devices (PND's) and smartphones/tablets), sales channel type (OEM, aftermarket), and by country (Germany, United Kingdom, France, Italy, and rest of Europe). The report offers market size and forecasts for Automotive High-performance Electric Vehicles Market in value (USD billion) for all the above segments.

The average for 2023 based on 26 countries was 109109 commercial vehicles. The highest value was in France: 434379 commercial vehicles and the lowest value was in Bulgaria: 9233 commercial vehicles. The indicator is available from 2005 to 2023. Below is a chart for all countries where data are available.

Snapshot img

Forklift Trucks Market Size 2025-2029

The forklift trucks market size is forecast to increase by USD 26.88 billion at a CAGR of 7.7% between 2024 and 2029.

The rapid growth in the construction sector is the key driver of the forklift trucks market, as the demand for material handling equipment increases with expanding construction projects. The upcoming trend is the adoption of fuel cell-powered forklift trucks. These forklifts offer a more sustainable, energy-efficient alternative to traditional battery-powered models, providing longer operational hours, faster refueling, and reduced environmental impact, making them an attractive solution for industries focusing on green technologies.
The market is further supported by the expansion of sectors such as construction, which is leading to an increased demand for material handling equipment. Another trend influencing the market is the adoption of fuel-cell-powered forklift trucks, which offer improved efficiency and reduced emissions. 

What will be the Size of the Forklift Trucks Market During the Forecast Period?

Request Free Sample

The forklift trucks market, a segment of the material handling equipment industry, experiences continuous growth driven by the increasing demand from various sectors such as construction, mining, airports, and e-commerce. Class I forklift trucks, specifically those using internal combustion engines, dominate the market. However, Class II, III, and IV electric lift vehicles are gaining popularity due to their energy efficiency and lower operating costs.
Advanced technology, including rechargeable batteries and grid electricity, is transforming the industry, enabling longer runtimes and faster charging times. Industrial, logistics, and commercial warehousing sectors are significant consumers, with the e-commerce sector's increasing reliance on efficient material handling solutions driving market expansion. Power generation and mining activities also contribute to the market's growth.



Material handling of containers, crates, cars, freight, and other goods in warehouses, dockyards, and distribution centers further bolsters the market's demand.

How is this Forklift Trucks Industry segmented and which is the largest segment?

The forklift trucks industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Class Type

  Class III
  Class V
  Class I
  Class II
  Class IV


Type

  Electric
  Internal combustion engine


Load Capacity

  Below 5 Ton
  5-15 Ton
  Above 16 Ton


End User

  Industrial
  Construction
  Manufacturing


Geography

  APAC

    China
    India
    Japan
    South Korea


  Europe

    Germany
    UK
    France
    Italy


  North America

    Canada
    US


  Middle East and Africa



  South America

By Class Type Insights

The class iii segment is estimated to witness significant growth during the forecast period. The Class III segment of The market encompasses electric hand rider trucks and pallet jacks, which are characterized by their ability to lift materials just a few inches above the ground. These forklift trucks are hand-controlled via a steering tiller and are available as counterbalanced or straddle-type walk-behind stackers. With a load capacity of approximately 5 tons, Class III forklift trucks are well-suited for short distances and small warehouses. They can be powered by lithium-ion batteries or fuel cell engines. The increased demand for these forklifts lies in their application in warehouses and production plants, offering intermediate logistics solutions between unloading and storage processes.

The material handling equipment sector, including the e-commerce industry, logistics industries, and commercial warehousing, is a significant contributor to the growth of the lift truck market. Advanced technology, such as artificial intelligence, robotics, connected things, automation, electric vehicles, and alternative energy forklifts, is transforming the industry. Safety equipment, flooring, eyewash stations, and battery chargers are essential components of forklift trucks. Emission standards and environmental concerns are driving the shift towards electric motors and away from internal combustion engines, including diesel, AC trucks, IC truck, and electric lift trucks. Multi-shift operation and the need for safety equipment, such as seat belts and backup alarms, are also critical considerations.

Get a glance at the share of various segments. Request Free Sample

The Class III segment was valued at USD 19.74 billion in 2019 and showed a gradual increase during the forecast period.

Regional Analysis

APAC is estimated to contribute 52% to the growth of the global market during the forecast period. Techna