Volvo Trucks rises as market leader for heavy all-electric trucks in Europe

Zoe Sabanal Feb 24, 2022

2 min read

Volvo Trucks has risen as the market leader for heavy all-electric trucks in Europe 2021 with a market share of 42%, according to new statistics from market analysis group IHS Markit .

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.

In 2021, Volvo Trucks took orders, including letters of intent to buy, for more than 1,100 electric trucks worldwide.

An increasing number of heavy all-electric trucks are now running in commercial traffic.

Statistics from IHS Markit show that last year saw a total of 346 electric trucks (≥16 tonnes) that were registered in Europe – an increase of 193% from 2020.

Volvo Trucks has the largest market share at 42%.

IHS Markit noted that 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,” said Roger Alm, President of Volvo Trucks.

“Even if volumes are still low, we see rapidly growing interest, both in Europe, North America and in other parts of the world,” Alm said.

“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,” he said.

Volvo Trucks began serial production of electric trucks in 2019, as one of the very first truck brands in the world to do so.

This fall, the company is set to have the most complete electric line up in the global truck once production of the heavy duty all-electric models Volvo FH, Volvo FM and Volvo FMX begins.

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,” Alm said.

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.

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

Country Total market volume 2021