Zero Emission Trucks Market Size Leads 29.54% CAGR by 2034

Zero Emission Trucks Market Research, Trends and Forecast by 2034

According to market projections, the zero emission trucks sector is expected to grow from USD 7.71 billion in 2024 to USD 102.59 billion by 2034, reflecting a CAGR of 29.54%. North America leads the zero-emission truck market, driven by government policies and tech advances. Asia Pacific is set for the fastest growth, fueled by urbanization and better batteries. Battery electric trucks dominate as EV awareness rises, while logistics and transportation thrive with e-commerce expansion.

Zero Emission Trucks Market Size, Key Players and Developments

The zero emission trucks market size is projected to reach USD 102.59 billion by 2034, growing from USD 9.99 billion in 2025, at a CAGR of 29.54% during the forecast period from 2025 to 2034.

Zero Emission Trucks Market Size 2023 - 2034

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Introduction

The zero emission trucks market is a crucial branch of the automotive industry. This industry deals in development and distribution of emission-free trucks across the world. There are different types of vehicles developed in this industry consisting of electric light-duty trucks, electric medium-duty trucks and electric heavy-duty trucks. These trucks are powered by numerous sources including battery electric trucks (BEVs), hydrogen fuel cell electric trucks and hybrid electric trucks. It finds various application in several sectors such as last mile delivery, logistics and transportation, construction, waste management and some others. The rising sales of electric trucks across the globe has contributed to the market expansion. This market is projected to rise drastically with the growth of the electric vehicle industry across the globe.

Europe Electric Truck Sales (2022-23)

  • According to the IEA, around 3700 electric trucks were sold in Europe in 2022 that increased to 10800 in 2023.

Highlights of the Zero Emission Trucks Market

  • North America held the dominant share of the zero emission trucks market due to numerous government initiatives to curb emission in the environment along with technological advancements in automotive sector.
  • Asia Pacific is expected to grow with the highest CAGR due to the rapid urbanization and advancements in battery technology.
  • The battery electric trucks segment dominated the market due to the rising awareness of electric vehicles across the world.
  • The logistics and transportation segment led the market due to the growing development in the e-commerce sector coupled with rise in number of logistics providers in different parts of the globe.
  • According to the International Energy Agency, in China, around 38200 electric trucks were registered in 2023.
  • According to the American Society of Mechanical Engineers, in U.S., around 7902 electric trucks were sold in 2nd quarter of 2024.
  • The truck manufacturing companies are increasing their efforts for developing hydrogen-powered trucks to curb emission in the environment. For instance, in May 2024, Volvo Trucks announced to launch hydrogen trucks. These trucks will be launched in 2026.
  • Several companies are partnering among themselves to develop hybrid trucks to gain utmost public attention and capture large share of the market. For instance, in September 2024, ZF partnered with Foton. This partnership is done for launching a hybrid truck in China.

Industry Leader Announcement

In January 2025, Rohit Srivastava, the chief growth officer of EKA Mobility announced that, “With EKA’s pioneering EV technologies, we aim to offer cost-effective, reliable and efficient electric trucks. To make this product strategy successful, EKA is using proven aggregates and components from Mahindra and Mahindra's truck range for developing its EV Commercial Vehicles."

Competitive Landscape

Zero Emission Trucks Market Companies

The zero emission trucks market is a highly fragmented industry with the presence of several dominant players. Some of the crucial players in this industry consists of Daimler, Volvo, PACCAR, Faw Jiefang Group, Man, Scania and some others. These market players continuously engaged in developing eco-friendly trucks and adopting several strategies to maintain their dominant position in this competitive market.

Man Truck Segment Revenue in Million USD (2022-23)

  • According to the annual report of Man, the revenue of truck segment in 2022 was US$ 22005.5 million in 2022 that rose to US$ 22257.10 million in 2023.

Market Segments

By Vehicle Type

  • Electric Light-Duty Trucks
  • Electric Medium-Duty Trucks
  • Electric Heavy-Duty Trucks

By Source

  • Battery Electric Trucks (BEVs)
  • Hydrogen Fuel Cell Electric Trucks
  • Hybrid Electric Trucks

By Application

  • Last Mile Delivery
  • Logistics and Transportation
  • Construction
  • Waste Management

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa
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  • Insight Code: 1531
  • No. of Pages: 150+
  • Format: PDF/PPT/Excel
  • Last Updated: 14 February 2025
  • Report Covered: [Revenue + Volume]
  • Historical Year: 2021-2023
  • Base Year: 2024
  • Estimated Years: 2025-2034

Meet the Team

Laxmi Narayan is a Research Analyst at Towards Automotive with 5 years of experience, specializing in edge computing and blockchain applications shaping the future of connected and intelligent mobility.

Learn more about Laxmi Narayan

Aditi Shivarkar, with 14+ years of experience in automotive market research, specializes in tracking trends across vehicle technologies, mobility solutions, and materials innovation. She delivers accurate, actionable insights that drive excellence in the automotive sector—fueling strategies around electrification, sustainability, and advanced manufacturing.

Learn more about Aditi Shivarkar
FAQ's

The zero emission trucks market size is valued at US$ 9.99 billion in 2025.

North America dominated this industry.

The rising demand for eco-friendly transportation systems along with increasing prices of traditional fuel has driven the market growth.

Some of the prominent players of this industry consists of Daimler, Faw Jiefang Group, Man, Scania, Volvo, PACCAR and some others.

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