For the fifth consecutive year, Volvo Trucks has secured its position as the leader in the heavy electric truck segment (16 tonnes and above) in Europe, holding a 47% market share by the end of 2024. The company also dominates the North American market, boasting a segment share of over 40%.
Market Leadership and Growth
In 2024, 1,970 electric Volvo trucks were registered in Europe, with the top five markets being Germany, the Netherlands, Sweden, Norway, and Switzerland. Since starting serial production of electric trucks in 2019, Volvo Trucks has introduced eight electric truck models and has delivered more than 4,800 electric trucks globally.
“We are proud to be leading the transformation to zero-emission transport. We have a very strong electric truck portfolio for regional, city, and construction transport. Our next electric truck will have a range of up to 600 kilometers on a single charge,” said Roger Alm, President of Volvo Trucks.
Expressing gratitude to transport companies, Alm added, “I want to thank all transport operators investing in electric trucks. I’m proud that you are choosing Volvo as your partner on the journey toward zero emissions. I also want to thank our dealers, suppliers, and colleagues within the Volvo Group.”
Expanding Global Footprint
The operational footprint of Volvo electric trucks is growing rapidly, with the total fleet covering more than 140 million kilometers in customer operations worldwide. The company has witnessed a sharp increase in electric truck activity across Europe, with vehicles entering new geographical areas and contributing to lower emissions.
Despite these advancements, electric trucks accounted for just 1.3% of the total truck market in Europe in 2024, underscoring the need for accelerated adoption.
Challenges and the Road Ahead
While Volvo Trucks is driving the shift toward sustainable transport, the broader adoption of electric trucks hinges on several key factors, including:
Expansion of public charging infrastructure and greater electric grid capacity.
Cost-effective ownership models that make EVs more financially viable for transport operators.
Stronger public policies to encourage zero-emission transport solutions.
According to Volvo Trucks’ analysis, Europe will need 40,000 fast chargers along highways to support a projected 400,000 electric trucks by 2030. “It’s not enough that we have electric trucks ready. We need urgent action from stakeholders to accelerate the transformation,” Alm emphasized.
As Volvo Trucks continues to push for a more sustainable transport ecosystem, the company remains committed to advancing electric truck technology, expanding infrastructure partnerships, and advocating for policies that drive the industry toward a zero-emission future.
