Global Electric Truck Market to Reach US$ 1923.2 Million by 2027, Impelled by Enhanced Focus on Sustainable Development
According to the latest report by IMARC Group, titled "Electric Truck Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global electric truck market reached a value of US$ 426.8 Million in 2021 and the market is anticipated to reach a value of US$ 1923.2 Million by 2027, exhibiting a CAGR of 30.15%during 2022-2027. An electric truck is generally designed for transporting specialized payloads and cargosfor performing utilitarian work that is powered by batteries. Its exterior frame and wheels are manufactured using aluminum metals that provide an indestructible structure to the vehicle. It is widely adopted as a preferred alternative for fuel-based truckssince it aids in reducing pollution and noise levels. Along with this, it also exhibits the ability to provide regenerative braking as it can easily recover the energy by sending the charging current back to batteries in a controlled process, thereby resulting in the reduction of...