Navigant Research Report Anticipates Global Annual Sales of Electric Drive Medium and Heavy Duty Vehicles, Excluding China, Will Increase 17% through 2030

Market interest remains strong despite challenges with heavy duty
truck segment

BOULDER, Colo.–(BUSINESS WIRE)–lt;a href=”https://twitter.com/hashtag/ETrucks?src=hash” target=”_blank”gt;#ETruckslt;/agt;–A new report from Navigant
Research analyzes the global market for electric drive trucks and
buses, with a focus on hybrid, plug-in hybrid, battery electric, and
fuel cell powertrains.

The market for electric trucks and buses is nascent, but rapid
developments in the industry are setting a strong foundation for
electrification to become the new norm. Click
to tweet: According to a new report from @NavigantRSRCH,
global annual sales of electric drive medium and heavy duty vehicles
(eMHDVs) are expected to experience a compound annual growth rate (CAGR)
of 9% through 2030. Excluding China, which has an aggressive program
underway to electrify the largest bus market in the world, the CAGR is
17% worldwide.

“Although the eMHDV market is gaining increased attention, the vehicles
currently make up a small portion of global annual sales outside of
China,” says William Drier, research analyst at Navigant Research. “The
production of these vehicle technologies is driven by several factors,
including fuel efficiency improvements, emissions reduction, energy
costs, maintenance, and declining costs for alternative fuel and
batteries.”

While market interest remains strong, challenges do exist, particularly
for the heavy duty (HD) truck market. The requirement for large battery
capacity and lack of available recharging infrastructure for HD trucks
falls short of the requirements for long-haul trucking applications,
which prevents the use of electric trucks outside of fixed regional
routes. In a market in search for alternatives, liquid natural gas (LNG)
is one of the most prominent of the alternative fuel options that is
quickly gaining traction for HD trucks as OEMs try to meet higher carbon
emissions standards.

The report, Market
Data: Electric Trucks and Buses, analyzes the global market for
electric drive trucks and buses, with a focus on four powertrains:
hybrid, plug-in hybrid, battery electric, and fuel cell. The study
provides an analysis of the market issues, including opportunities,
implementation challenges, and prominent market factors, associated with
eMHDVs. Global market forecasts for vehicle populations and sales,
segmented by powertrain-fuel configuration, vehicle type, region, and
scenario, extend through 2030. The report also examines the major
technologies surrounding the vehicle electrification landscape,
including alternative fuels, as well as the key market participants. An
Executive Summary of the report is available for free download on the Navigant
Research website.

About Navigant Research

Navigant Research, the dedicated research arm of Navigant, provides
market research and benchmarking services for rapidly changing and often
highly regulated industries. In the energy sector, Navigant Research
focuses on in-depth analysis and reporting about global clean technology
markets. The team’s research methodology combines supply-side industry
analysis, end-user primary research and demand assessment, and deep
examination of technology trends to provide a comprehensive view of the
Energy Technologies, Utility Transformations, Transportation
Efficiencies, and Buildings Innovations sectors. Additional information
about Navigant Research can be found at www.navigantresearch.com.

About Navigant

Navigant Consulting, Inc. is a specialized, global professional services
firm that helps clients take control of their future. Navigant’s
professionals apply deep industry knowledge, substantive technical
expertise, and an enterprising approach to help clients build, manage
and/or protect their business interests. With a focus on markets and
clients facing transformational change and significant regulatory or
legal pressures, the Firm primarily serves clients in the healthcare,
energy and financial services industries. Across a range of advisory,
consulting, outsourcing, and technology/analytics services, Navigant’s
practitioners bring sharp insight that pinpoints opportunities and
delivers powerful results. More information about Navigant can be found
at navigant.com.

* The information contained in this press release concerning the
report, Market Data: Electric Trucks and Buses, is a summary and
reflects Navigant Research’s current expectations based on market data
and trend analysis. Market predictions and expectations are inherently
uncertain and actual results may differ materially from those contained
in this press release or the report. Please refer to the full report for
a complete understanding of the assumptions underlying the report’s
conclusions and the methodologies used to create the report. Neither
Navigant Research nor Navigant undertakes any obligation to update any
of the information contained in this press release or the report.

Contacts

Navigant Research
Lindsay Funicello-Paul
+1.781.270.8456
lindsay.funicello.paul@navigant.com