Medium-duty trucks are predicted to dominate Europe’s electric commercial vehicle market in 2026, making up over 86% of the electrified fleet. Despite infrastructural challenges related to charging options, exponential growth is expected in this area, particularly in Germany. Volvo leads the electric truck market in Europe, with its vehicles topping sales charts in the first quarter of 2023. MAN, Europe’s second-largest truck manufacturer, plans to launch its first electric truck in 2024, and anticipates that 80-90% of logistics trucks will be electrically driven.
- Medium-duty trucks are expected to dominate Europe’s electric commercial vehicle market.
- Sales of electric trucks are on the rise, with a 32.8% increase in electrically-chargeable truck sales in the EU in 2022.
- Geographical disparities exist in the adoption of electric trucks, with Switzerland, Norway, Sweden, and the Netherlands leading in the number of electric trucks registered.
Electric truck sales on the rise
Despite the current dominance of diesel-powered trucks, with 96.6% of trucks sold in the EU in 2022 being diesel, electrification is gaining momentum. Electrically-chargeable vehicles made up only 0.6% of the EU truck market in 2022, but the trend suggests a significant shift is on the horizon. Sales of electrically-chargeable trucks rose by 32.8% in 2022, indicating a rapidly growing interest in this technology.
Volvo Trucks, leading the electric truck market in Europe, reported over 1,100 orders for electric trucks in 2021, spanning more than 20 countries. This includes a market share of 42% in the heavy all-electric truck segment. In the same year, a total of 346 electric trucks (≥16 tonnes) were registered in Europe – an increase of 193% from 2020. This is an affirmation of the expanding electric truck market.
Geographical disparities
Different European countries are showing varying degrees of commitment to electric trucks. Switzerland, Norway, Sweden, and The Netherlands lead the pack in the number of electric trucks registered. Specifically, Germany stands out as the country with the highest number of electrically-chargeable truck sales, with 829 units sold in 2022.
However, the adoption of electric trucks across Europe is not uniform. For instance, while Spain and Italy saw improvements in diesel truck sales, France and Germany experienced losses. As such, national regulations and market factors play a significant role in the adoption of this technology.
Infrastructure and innovation
Charging infrastructure is a major factor in the adoption of electric trucks. The sector faces infrastructural hurdles relating to charging options and availability. However, projections for the heavy-duty electric vehicle fast-charging infrastructure market in Europe forecast an exponential growth of charging options, especially in Germany. The development of this infrastructure is crucial in supporting the increasing number of electric trucks on the road.
On the innovation front, significant strides are being made. Volvo Trucks, for instance, started serial production of electric trucks in 2019 and plans to introduce heavy-duty all-electric models by the end of 2023. The company’s goal is for half of its total truck sales to be electric by 2030.
Green hydrogen and the future
Green hydrogen, once lauded as the fuel of the future, is facing challenges in the transport sector. Despite being heavily subsidised by European governments, the transport sector is favouring battery electric propulsion. The high cost of green hydrogen, four to five times higher than what customers are willing to pay, is a key barrier. This has limited its use to specialised transport such as vehicles carrying heavy loads.
Despite the hurdles, the future of electric trucks in Europe looks bright. The International Energy Agency forecasts the stock of electric trucks to reach about 4 million by 2030. With ongoing innovation in electric truck technology and infrastructure development, the transition to electric trucks is well underway.
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