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Class 2 Trucks Market Trends

  • Report ID: GMI9178
  • Published Date: Apr 2024
  • Report Format: PDF

Class 2 Trucks Market Trends

Class 2 trucks are increasingly using electric powertrains because they provide zero emissions, cheaper running costs, and less reliance on fossil fuels. In response to the increased demand for environmentally friendly transportation options, manufacturers are producing electric vans and pickup trucks with enhanced battery technology, longer range, and faster charging capabilities. For instance, in September 2023, Ashok Leyland launched electric small trucks in the SCV segment. The new product lineup has increased the company's share in the class 2 trucks segment.

In the class 2 truck market, hybrid powertrains—which combine internal combustion engines with electric motors or other alternative fuel sources—are becoming more and more popular. Because they use less fuel, emit fewer pollutants, and perform better, hybrid vans and trucks are a desirable choice for fleet managers and customers who care about the environment.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of class 2 trucks reached USD 649 million in 2023 and will grow at over 9% CAGR between 2024 and 2032, led by the need for effective last-mile delivery services.

Gasoline from fuel segment held a decent market share in 2023 will generate over 813.3 USD million by 2032, owing to its familiarity and simplicity of fueling.

Asia Pacific class 2 trucks market generated USD 370.6 million in 2023, driven by the increasing demand for transportation solutions to support last-mile delivery services.

Chevrolet, Ford, Freightliner, Hino, Isuzu, Mercedes-Benz, Mitsubishi Fuso, Nissan, Ram among others.

Class 2 Trucks Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 19
  • Tables & Figures: 350
  • Countries covered: 28
  • Pages: 220
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