Automotive & Transportation


TCO Analysis and Case for Electric Trucks in North America, 2017–2030

Stringent Emission Regulations, Falling Battery Prices, and Lower Maintenance Costs to Drive Electrification in the Trucking Industry
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Published: 19 Feb 2019

This Frost & Sullivan research indicates that the trucking industries in North America and Europe are increasingly facing a shortage of skilled drivers and there are concerns regarding the economic outlook and operating margins. The total cost of ownership (TCO), downtime reduction, regulation compliance, driver shortage, and equipment utilisation are emerging as decisive factors in the adoption of advanced truck technologies by fleet managers. Owing to a likely tightening of emission regulations in various regions, fleets will look to adopt fuel-efficient technologies that deliver value-added benefits such as safety and increased life. Alternative powertrains are also entering the commercial trucking space, even though fleets are apprehensive of the potential and feasibility of electrification in the truck industry due to the high prices. However, falling battery prices and growing consumer awareness are expected to encourage electrification in the industry. Incumbents such as Nikola and Tesla have disrupted the trucking industry by announcing a slew of products in the electric truck segment, while traditional truck manufacturers have been slow to promote electrification as a viable alternative to diesel. Apart from Tesla and Nikola, players such as Orange EV and Wrightspeed too have shown potential in the vocational truck segments.

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