Electric Transporters Market Insights, Forecast and Competitive Strategies

Electric Transporters Market Size, Share & Forecast Analysis (2025–2034)

The electric transporters market is predicted to expand from USD 72.33 billion in 2025 to USD 155.16 billion by 2034, growing at a CAGR of 8.85% during the forecast period from 2025 to 2034.

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Introduction

The electric transporters market is a significant branch of the automotive industry. This industry deals in manufacturing and distribution of vehicles that run on electricity. There are various types of vehicles developed in this sector consisting of electric trucks, electric buses, electric vans, electric scooters, electric bikes and some others. These vehicles are powered by different types of batteries comprising of lithium-ion, lead-acid, solid-state, nickel hydride and some others. The end-users of this sector includes public transport, freight and logistics, personal use and some others. The growing adoption of electric trucks in different regions of the world has boosted the market expansion. This market is expected to rise significantly with the growth of the EV sector around the globe.

• According to the International Energy Agency, around 1700 electric trucks were sold in Europe during 2021 that increased to 10800 in 2023.

Highlights of the Electric Transporters Market

• North America held the highest share of the electric transporters market.
• Europe is expected to grow with a significant CAGR during the forecast period.
• By type, the electric bus segment held a dominant share of the market.
• By type, the electric truck segment is predicted to grow with a significant growth rate during the forecast period.
• By technology, the BEVs segment led the industry.
• By technology, the HEVs segment is anticipated to rise with the highest growth rate during the forecast period.
• By battery type, the lithium-ion segment held the lion’s share of the market.
• By battery type, the lead-acid segment is anticipated to register a considerable growth rate during the forecast period.
• By end-use, the freight and logistics segment dominated the industry.
• By end-use, the personal use segment is likely to rise with a notable CAGR during the forecast period.

Key Metrics and Overview

Electric Transporters: Stats and Figures

• According to the Chatrou CME Solutions, around 1000 electric buses were registered in UK during 2023.
• According to the American Society of Mechanical Engineers, around 330463 electric trucks were sold in the U.S. during 2nd quarter of 2024.
• According to the International Energy Agency, around 5.9 million electric two-wheelers were registered in China during 2023.

Type Insights

The electric bus segment held a dominant share of the market. The growing adoption of electric buses in airports for shuttle operations has driven the market expansion. Also, government of various countries such as India, EU, U.S. and some others have started integrating e-buses in their fleets to provide eco-friendly transportation to the people, thereby driving the industrial growth. Moreover, the rising investment by EV companies for developing modern E-buses along with launches of e-buses in different regions further propels the market growth.

• In March 2025, Volvo Buses launched Volvo 7800 in Mexico. Volvo 7800 is an electric bus that comes with a battery capacity of 250 kWh that is expected to provide a superior driving range.

• According to the European Federation for Transport and Environment AISBL, around 49% of the overall bus sales in EU region were electric buses.

The electric truck segment is predicted to grow with a significant growth rate during the forecast period. The growing adoption of e-trucks by e-commerce brands such as Amazon and Walmart has boosted the market growth. Also, the rising prices of diesel in advanced nations such as the U.S. and UK coupled with advancements in hybrid technology is projected to drive the industrial expansion. Additionally, the market players of electric trucks are developing trucks with advanced technologies to cater the demands of the end-users, thereby fostering the growth of the electric transporters market.

• In January 2025, Omega Seiki launched M1KA 1.0 electric truck in India. This electric truck comes with a payload capacity of 850 kgs.

Technology Insights

The BEVs segment led the industry. The growing emphasis on reducing CO2 emission along with technological advancements in EV sector propels the market growth. Also, rising government initiatives for strengthening the EV charging infrastructure along with rapid investment by startup companies accelerates the industrial expansion. Moreover, several developments in the battery industry as well as improvements in battery management system is projected to boost the growth of the electric transporters market.

• In January 2025, Porsche launched Macan SUV and the updated Taycan sports saloon. These battery electric vehicles are designed for the elite-class consumers of India.

The HEVs segment is anticipated to rise with the highest growth rate during the forecast period. The growing demand for fuel-efficient vehicles in different parts of the world has boosted the market growth. Also, advancements in hybrid technology along with rapid investment by truck manufacturers for developing hybrid powertrains is crucial for the industrial expansion. Moreover, the rising adoption of PHEVs by fleet operators for reducing emission fosters the growth of the electric transporters market.

• In April 2025, Sany launched SKT130S. SKT130S is a hybrid truck is integrated with 925 kW rated power engine for operating in mining sector.

Battery Type Insights

The lithium-ion segment held the lion’s share of the market. The growing use of li-ion batteries in EVs due to its superior life and high energy density drives the market expansion. Also, government of several countries such as the U.S. and UK have started li-ion battery recycling programs to reduce emission, thereby shaping the industry in a positive direction. Additionally, rapid investment in battery industry coupled with technological advancement in lithium mining sector has boosted the market growth.

• In April 2025, Toshiba Corporation launched SCiB module. SCiB module is a lithium-ion battery designed for electric buses.

The lead-acid segment is anticipated to register a considerable growth rate during the forecast period. The rising adoption of lead-acid batteries in short-range EVs has driven the market growth. Also, the growing investment by battery companies for opening new manufacturing plants along with rise in research and developments activities related to lead-acid batteries further boosts the industrial expansion. Moreover, the increasing demand for these batteries due to its cost-effectiveness, temperature resistance, reliability and some others is predicted to drive the growth of the electric transporters market.

• In April 2024, Amara Raja announce to open a lead-acid battery manufacturing facility in North India. This production plant is expected to increase the manufacturing capacity lead-acid battery for the EV sector.

End-Use Insights

The freight and logistics segment dominated the industry. The growing adoption of electric trucks by logistics sector for transporting goods in different parts of the world has fostered the industrial expansion. Also, the rising emphasis of freight providers on adopting sustainable transportation along with rapid investment in logistics industry is driving the market growth. Additionally, numerous logistics brands are partnering with EV companies for deploying e-trucks in their daily operations is likely to boost the growth of the electric transporters market.

• In August 2024, DSV partnered with Volvo. Through this partnership, Volvo will deliver 300 electric trucks to DSV for enhancing logistics operations.

The personal use segment is likely to rise with a notable CAGR during the forecast period. The rising awareness of C02 emission among individuals has driven the market expansion. Additionally, subsidies and tax-benefits provided by government for adopting electric vehicles is shaping the industry in a positive direction. Moreover, the growing popularity of electric skateboards and electric ROVs among youths is boosting the growth of the electric transporters market.

• In September 2024, UDITER launched Pixel Rider. Pixel Rider is an electric skateboard that comes with advanced features such as LED screen deck, anti-slip silicone grip tape, swappable battery, dual motors and some others.

Geographical Insights

North America held the highest share of the electric transporters market. The rising demand for EVs among the people of the U.S. and Canada to mitigate CO2 emission propels the market growth. Also, the rising investment by government for strengthening the EV charging infrastructure coupled with presence of several EV brands drives the market expansion in this region.

The U.S. is a major contributor of this region. In U.S., this industry is generally driven by the surge in demand for sustainable transportation coupled with rapid investment in EV battery manufacturing sector. Also, the rising adoption of electric buses in schools and government offices along with presence of well-established charging infrastructure is driving the market growth.

• In August 2024, the government of New York announced to invest around US$ 200 million. This investment is done for deploying electric buses in schools across NY region.

Europe is expected to grow with a significant CAGR during the forecast period. The growing adoption of eco-friendly transportation solution in countries such as UK, Germany, France, Italy and some others has bolstered the market growth. Also, technological advancements in wireless EV charging infrastructure coupled with rapid investment in EV manufacturing by large and small companies helps the industry to grow significantly.

• In March 2023, WiTricity partnered with ABT e-Line. This partnership is done for providing wireless EV charging solutions in Europe.

UK and Germany are the prominent countries that contributes significantly to the market. In UK, the market is generally driven by the rising adoption of electric trucks in various sector such as mining, e-commerce, construction and some others. In Germany, the presence of several EV brands such as BMW, Mercedes, Audi and some others propels the market expansion.

Industry Leader Announcement

• In April 2024, Joe Moye, the CEO at Beep made an announcement stating that, “We applaud our partners at HawaiÊ»i DOT, Sustainability Partners and the Daniel K. Inouye International Airport (HNL) for their innovative integration of advanced autonomous mobility solutions in this pioneering project, Through this collaboration, Beep will leverage its national experience in deploying and proving out these rapidly evolving technologies across multiple states and communities, while emphasizing our unwavering approach to safety and sustainability. Together, we’re enhancing accessibility and ensuring mobility for all.”

Competitive Landscape

The electric transporters market is a highly competitive industry with the presence of several dominating players. Some of the prominent companies in this industry consists of BYD, Onewheel, General Motors, Polestar, AllCell Technologies LLC, BMW Motorrad International, BOXX Corporation, Kiwano, Ninebot Inc., Razor USA LLC and some others. These companies are constantly engaged in developing electric transporters and adopting numerous strategies such as product launches, collaborations, joint venture, partnerships, business expansion, acquisition, and some others to maintain their dominant position in this industry. For instance, in July 2024, Onewheel launched Onewheel GT-S Series Rally Edition. GT-S is a range of self-balancing electric skateboard that is integrated with a 6-inch hub motor and superior performance tire. Also, in July 2024, Ninebot launched a range of e-bikes consisting of E300SE, E125S and E110S. These e-bikes are designed for the urban people of Australia.

Recent Developments

• In March 2025, Stellantis collaborated with Iveco. This collaboration is done for launching two electric transporters by 2026.
• In December 2024, Tata Motors launched a fleet of EV buses in India. This fleet is designed for transporting workforce of Tata in the Pantnagar plant.
• In September 2024, Lohia launched Narain iCH L3 Cargo. Narain iCH L3 Cargo is an electric transporter aimed at enhancing sustainable transportation in India.

Electric Transporters Market Segments

By Type

• Electric Buses
• Electric Trucks
• Electric Vans
• Electric Motorcycles
• Electric Scooters

By Technology

• Battery Electric Vehicles
• Hybrid Electric Vehicles
• Fuel Cell Electric Vehicles

By Battery Type

• Lithium-ion
• Lead-acid
• Nickel Hydride

By End-Use

• Public Transport
• Freight and Logistics
• Personal Use

By Region

• North America
• Latin America
• Western Europe
• Eastern Europe
• Asia Pacific
• The Middle East and Africa