Volvo Trucks leads the electric truck market in Europe

Source: press release, 16 February 2022

The company’s target is that half of its total truck sales will be electric by 2030
The company’s target is that half of its total truck sales will be electric by 2030 (photo: Volvo Trucks)

New statistics show that Volvo Trucks is the market leader for heavy all-electric trucks in Europe with a market share of 42%. In 2021 the company took orders, including letters of intent to buy, for more than 1,100 electric trucks worldwide.

The international trucking industry is undergoing a transformation towards more sustainable transport as sales of heavy battery electric trucks are starting to pick up, with Europe in the lead. An increasing number of heavy all-electric trucks are now running in commercial traffic.

Statistics from the market analysis group IHS Markit show that during 2021 a total of 346 electric trucks (≥16 tonnes) were registered in Europe – an increase of 193% from 2020. Volvo Trucks has the largest market share at 42%. The countries in Europe with the most electric trucks registered (≥16 tonnes) are Switzerland, Norway, Sweden and The Netherlands. *

“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,” says Roger Alm, President of Volvo Trucks.

Volvo Trucks started serial production of electric trucks in 2019, as one of the very first truck brands in the world to do so. When production of the heavy duty all-electric models Volvo FH, Volvo FM and Volvo FMX begins this fall, Volvo will have the most complete electric line up in the global truck industry. Volvo has delivered electric vehicles to a wide range of customers in Europe, North America and Australia. The company’s target is that half of its total truck sales will be electric by 2030.

“Clearly, these numbers show that we’re off to a very good start in sales. With the broader electric truck line up, it will be possible to electrify nearly half of heavy road transports. This proportion will grow even larger as the distance that electric trucks can drive increases and the charging infrastructure for heavy trucks becomes further developed,” states Alm.

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

Country / 2021 YTD Total market volume
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

*Source: IHS Markit, ihsmarkit.com. Europe excluding UK