Europe: Electric Truck Market Almost Tripled In 2021

Volvo Trucks sells more than any other manufacturer.

Volvo Trucks: six EV models

Mark Kane

By: Mark Kane

Feb 23, 2022 at 9:21am ET

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The battery-electric truck market is in an early stage of development, but we can already see clear signs of fast growth.

According to IHS Markit data, quoted by Volvo Trucks, a total of 346 new electric trucks (≥16 tonnes) were registered in 2021 in Europe (excluding the UK, for which data was not available). That's a tiny number, but the growth rate is amazing at 193% year-over-year.

The report says also that Volvo Trucks holds a 42% share in electric trucks in Europe (2021), which means that the company delivered some 145 units.

That's only the beginning of something bigger. Volvo Trucks explains that in 2021 alone, it received orders, and letters of intent to buy for more than 1,100 electric trucks in over 20 countries globally.

With three new models in Europe (FH, FM and FMX) scheduled to enter production in the second half of 2022, and an upgraded Volvo VNR Electric in North America, the company is progressing towards its target to increase BEV share to 50% of its total truck sales by 2030.

Roger Alm, President of Volvo Trucks said:

“We are determined to drive the electric truck revolution and our market leading position in Europe is proof that we are doing just that. Even if volumes are still low, we see rapidly growing interest, both in Europe, North America and in other parts of the world. In 2021 we have taken orders, including letters of intent to buy, for more than 1,100 trucks in over 20 countries. I’m convinced it’s becoming a key competitive advantage to offer electric, zero emission transports,”.

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In terms of geographical distribution, most of the electric trucks in Europe are sold in the richest countries, including Switzerland, Norway, Sweden, Netherlands and Germany.

IHS Markit statistics on the total number of registered electric trucks ( ≥16 tonnes) in Europe in 2021 (excluding the UK):

Switzerland: 77
Norway: 56
Sweden: 47
Netherlands: 42
Germany: 37
France: 25
Denmark: 21
Spain: 11
Italy: 9
Hungary: 7
Poland: 4
Belgium: 3
Czech Republic: 2
Finland: 2
Ireland: 2
Austria: 1
Total sum: 346 (up 193% year-over-year)

More about Volvo Trucks

Volvo FH Electric Successfully Completes Green Truck Route Test

Volvo FMX Electric Was Tested In Arctic Conditions

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