In 2023, the global market for electric heavy-duty vehicles (HDVs), particularly electric buses and trucks, showed significant growth and evolving trends across various regions. Electric buses, comprising medium and large-sized vehicles, dominated the HDV sector, with notable sales spikes in advanced economies like several European countries, China, Canada, Chile, Finland, the Netherlands, Poland, Portugal, and Sweden. These regions reported electric bus sales shares exceeding 50%, underscoring a strong shift towards sustainable public transport solutions.
Globally, approximately 50,000 electric buses were sold in 2023, accounting for 3% of total bus sales and pushing the global electric bus stock to about 635,000. Despite these gains, electric buses still face challenges in many emerging and developing economies (EMDEs), where market penetration remains limited compared to more established markets like China.
China, previously a dominant force with around 90% of global electric bus sales in 2020, saw its market share decrease to about 60% by 2023. This decline was attributed to reduced domestic demand due to policy changes and market saturation, prompting Chinese manufacturers to explore international markets. In Latin America, Chinese firms secured over 85% of electric bus deployments, while also expanding their footprint in the European Union, capturing 30% of the market by 2023.
In contrast, electric trucks experienced a 35% increase in sales in 2023, surpassing electric buses for the first time with approximately 54,000 units sold globally. China led this segment with a 70% market share, down from 85% in 2022, reflecting growing traction in other regions like Europe and the United States. Europe saw electric truck sales triple to over 10,000 units, driven by stringent CO2 emissions standards and increasing government support. Similarly, the United States witnessed a threefold increase, albeit from a smaller base.
Policy initiatives such as the European Union’s CO2 standards and the United States’ heavy-duty emissions regulations are pivotal in driving electric truck adoption. These regulations aim for significant reductions in emissions and promote zero-emission vehicle (ZEV) technologies across different truck segments. Cities worldwide are also implementing zero-emission zones for freight vehicles to curb urban pollution and enhance sustainability.
The availability of electric HDV models varies across regions, with China leading in diversity with over 430 models, primarily focusing on buses and medium-duty trucks. North America follows with around 170 models, with a strong emphasis on medium-duty trucks. In Europe, despite offering fewer models overall, there is a more balanced distribution across segments, including a notable share in heavy-duty trucks.
The growth in electric HDV adoption is not only driven by technological advancements but also by supportive policies, infrastructure developments, and increasing consumer awareness of environmental benefits. Initiatives like the Electric Freight Accelerator in India and investment programs in the UK for zero-emission trucks underscore global efforts to scale up electric HDV fleets.
Looking ahead, the electric HDV market is poised for further expansion as OEMs continue to innovate and governments worldwide implement stricter regulations and incentives. This evolution not only addresses environmental concerns but also fosters economic opportunities in the burgeoning green transportation sector.
In conclusion, the trajectory of electric buses and trucks in 2023 highlights a transformative shift towards sustainable mobility solutions globally. With ongoing advancements and policy support, electric HDVs are set to play a crucial role in reducing carbon emissions and shaping the future of urban transport and logistics.
