Global Utility Truck Market Size research report 2021 offers in-depth assessment of revenue growth, market definition, segmentation, industry potential, influential trends for understanding the future outlook and current prospects for the market. This study provides information about the sales and revenue during the historic and forecasted period of (2021 to 2028). Understanding the segments helps in identifying the importance of different factors that aid market growth. Estimations about the CAGR value for specific forecast period, market drivers, market restraints, and competitive strategies are assessed in this Utility Truck Market report.

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2018 - DAF introduced the CF and LF electric trucks and the XF and CF hybrid trucks in 2018; Peterbilt developed the Model 579, Model 520, and Model 220 electric trucks, and Kenworth unveiled a T680 hybrid truck and two T680 hydrogen fuel cell models.

Drivers & Restraints

Rapid growth in manufacturing electric and hybrid vehicles is continuously propelling the growth of the market. Continuous focus by market players to innovate and introduce new electric trucks has led to the emergence of these trucks in the market. Furthermore, some of the key factors propelling the growth of the electric utility truck market are the enhancement of strict emission norms imposed on commercial trucks, commercial vehicles, and initiatives for the adoption of cleaner and zero-emission. Governments across the globe are putting regulatory norms on the truck and vehicle manufacturers to reduce carbon emission produced by the diesel fuel combustion, and to invest in the electric trucks. These factors are contributing to the growth of the electric utility truck market across the globe during the forecast period at a significant CAGR. For instance, DAF introduced the CF and LF electric trucks and the XF and CF hybrid trucks in 2018; Peterbilt developed the Model 579, Model 520, and Model 220 electric trucks; and Kenworth unveiled a T680 hybrid truck and two T680 hydrogen fuel cell models. These factors will propel the growth of the market during the forecast period at a significant CAGR.

Key players covered in the global Utility Truck Market research report:

Ford Motor Company
AB Volvo
BYD Motors, Inc.
Daimler AG
Rosenbauer International AG.
Navistar
Paccar
Pierce Manufacturing, Inc.
Others
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