The Indian heavy-duty Electric truck market is experiencing rapid growth, registering a 55% CAGR between FY2026 and FY2030. The Indian Heavy-Duty Electric Truck Market size is expected to reach USD 1.23 billion by FY 2030.
The price of the Heavy Electric Truck is approximately twice that of the Internal Combustion Engine (ICE) Truck due to the Cost of the Battery and other components. Since the large fleet owners have a high purchasing power and can afford the high upfront cost of the HDT Electric Truck. The ROI of the Electric Truck is around three to four years if it is deployed in the correct application. The most crucial task is identifying the application for the Electric Truck.
ACG has identified several attractive applications for electric heavy-duty trucks, including ports, cement, and mining. The heavy-duty tipper and tractor-trailer segments are the most promising for launching the electric truck in the heavy-duty truck segment. The after-sales cost is around one-third of the cost of the ICE truck.
The TCO of a heavy-duty Electric truck is gaining the attention of large fleet owners due to its low operating costs. Another reason the driver’s productivity increases when they drive an Electric Tipper or Tractor Trailer.
Companies like Sagar Cement, Adani, JSW, BGS, and Triveni are interested in adding Electric Trucks to their fleets. Major fleet owners are planning to increase the number of electric trucks to 20% of their total fleet by FY 2030.
Currently, the Indian heavy-duty electric truck market is segmented into two categories: Tractor Trailers and Tippers.
Application-wise Electric Heavy Duty Demand Forecast:
GVW 45+ ton is the most attractive segment because the ROI is between 3 to 5 years.
The electric truck market is expected to grow by 35.5% in the Cement Industry, 31.5% in Ports, and at a 27% CAGR in Mining from FY 2026 to FY 2030. Other attractive Applications for electric trucks include agri-related, Steel, Industrial, and other sectors. For other 100+ Truck applications, refer to our Application-wise Model-wise Truck Data.
Electric Tipper Market:
The Heavy Tipper works in a rugged terrain. It must work for 4 to 7 hrs on a single charge to meet the customer’s requirements. The GVW, Payload, and Axle Configuration also meet the demand.
OEMs need to understand the Mining operation precisely and understand the macro-level details before launching the Electric Tipper. Most buyers in this segment are financially sound and have high purchasing power.
Propel Tippers are the market leader in the Electric Tipper segment because Propel’s Tipper aligns with the market, meets customer requirements, and delivers the best performance in the industry. It has 6X4 and 8X4 configurations, a rated payload range of 28 to 38.6 tonnes, and a 350 kW Power Rating. The company provides excellent after-sales services. The Li-ion 256 and 385 kWh Battery delivers a minimum of 40 to 50 km in various working conditions, such as loaded, uphill, and empty.
Olectra, i-Board – ELECY V3525, SANY SKT105E, and other key players in the Electric Tipper segment. Volvo has been a market leader in India in this segment for many years. The Volvo FMX 500 and FMX 460 are the leading models in Mining Applications. Due to its sales strategy, Scania Tippers have only a minor presence in this segment.
Now, Indian Emerging Brands are challenging Volvo’s leadership position with their electric drivetrain.
Propel, SANY, IPLTech, and I Board are taking share from Volvo and Scania’s market share. Due to its lower total cost of ownership (TCO), it is expected that the Electric Tipper will capture around 30-40% of the market by 2030.
Volvo and Scania are both struggling to increase revenue in the after-sales business because fleet owners are buying spare parts from the open market. The after-sales revenue is one of the key resources for Mining Tippers. The Electric Tipper’s after-sales cost is comparatively around 60 to 70% lower.
Electric Tractor Trailer Market:
BYD, IPLTech, Tata, and Ashok Leyland have launched the GVW 55T, 4X2 electric tractor-trailer due to the market attractiveness of this segment. BYD is selling the Electric TT for 11 INR million, offering a range of 200 km. IPLTech is the market leader of this segment. BYD is quietly discussing the sale of more than 400 Electric tractor-trailers for port and Cement applications—the two BYD e-TT units at Vizag.
The Average price of an electric tractor-trailer is around 10 million INR.
Table of Contents of the report highlights:
- Heavy Duty market size of ICE and Electric Trucks
- Segment and 100+ Application-wise Forecast from FY 2026 to FY 2040
- Target Truck Applications
- Application-wise Sales volume of Electric Truck and its market share
- Competitor landscape
- TCO Analysis
- Product Launch Strategy
- Product Configuration for various applications
