Volvo Trucks Maintains Leadership in Electric Truck Segment but Faces Key Challenges

Volvo Trucks retains its lead in the heavy-duty electric truck market, holding 47% of the European market. However, infrastructure and operational challenges remain. Learn more.

For the fifth consecutive year, Volvo Trucks has held the top position in the heavy-duty electric truck segment (16+ tons) in Europe and North America. In 2024, the company secured 47% of the European market and over 40% in North America. While these numbers are impressive, the expansion of electric freight transport continues to face significant challenges.

Last year, Volvo Trucks registered 1,970 new electric trucks in Europe, bringing its total deliveries worldwide to over 4,800. The largest markets include Germany, the Netherlands, Sweden, Norway, and Switzerland. The company has expanded its lineup to eight different electric truck models, catering to a variety of transportation needs, from urban deliveries to long-haul routes. One upcoming model is expected to achieve a range of up to 600 kilometers on a single charge, pushing electric trucks closer to the capabilities of traditional diesel-powered vehicles.

However, despite Volvo's success, electric trucks still make up only 1.3% of the overall heavy-duty truck market in Europe. According to Volvo Trucks President Roger Alm, the biggest obstacles to wider adoption are the lack of charging infrastructure and the high cost of ownership. By 2030, the company estimates that up to 400,000 electric trucks will be on European roads, requiring at least 40,000 fast-charging stations to support them effectively.

Infrastructure development has already begun but remains fragmented. The European Union has introduced new regulations requiring charging stations every 120 km for electric trucks, with powerful hubs offering between 1,400 and 2,800 kW by 2028. In the U.S., Tesla is building its first public Megacharger station for the Semi in California, but large-scale projects are still lacking to cover the entire country.

Another challenge is performance in cold climates. Norwegian transport operators report that electric truck range drops by at least one-third in winter conditions, requiring careful route planning and additional charging points.

Despite these obstacles, Volvo Trucks continues to expand its market share and introduce innovations that make electric trucking more viable. However, the future of the industry depends not only on manufacturers but also on government policies, infrastructure investments, and the willingness of transport companies to embrace new technologies.

Source: electriccarsreport.com