Frost & Sullivan projects global hybrid and electric market to reach over 90,000 units by 2022

Frost & Sullivan projects the global market for hybrid and electric medium- and heavy-duty trucks will reach 90,000 units due in part to technology advancements, increasing urbanization and emerging emissions regulations.

Green Fleet Magazine

A new study from Frost & Sullivan provides a 2022 global outlook for hybrid and electric medium- and heavy-duty trucks. In the report it projects global hybrid and electric medium-duty vehicles will reach 83,800 units while the heavy-duty market will reach 50,800 units.

According to the report, key trends that will drive growth include: 

  • Rising congestion that will bring about more low-noise and low-emission zones in crowded cities
  • Advanced battery technologies
  • Emerging emissions regulations in BRIC countries
  • Increased charging infrastructure
  • Volatile fuel prices
  • Differentiation of products for different duty cycles and applications
  • Voltage standardization for synergy in electronic components such as motors, inverters and batteries

The report says intra-city pick up and delivery, supermarkets and logistics companies will be the key drivers for demand for medium- and heavy-duty hybrid and electric vehicles.

In addition, the report projects: 

  • The global hybrid truck market will reach 90,000 units by 2022 with China, North America and Europe contributing 85.4% of global volumes. 
  • Parallel hybrid architectures are anticipated to account for 81% of the market by 2022 and series hybrids making being used more in specialized applications.
  • Chinese manufacturers such as Dongfeng, Foton, FAW and CNHTC are expected to top the global hybrid and electric truck market. Volvo and Daimler are expected to be the non-Chinese members of the top six in the market.