Strong Global Growth Predicted for Electric Vehicle Markets Through 2025

Auto industry investing just may have become more appealing, for so many reason. Electric vehicles are becoming more mainstream every day, in almost every nation. Manufactures are cutting production numbers of traditional sedans and turning to trucks based on evolving consumer acceptance; So, it shouldn't be a surprise that electric trucks are on the rise!

According to a new report electric trucks are expected to show strong growth in the global market through 2025. An industry publication stated: "After a sluggish 2018, the electric truck market this year will begin a multiyear run of double-digit increases, a British analyst firm is predicting. The nearly six-fold growth from just under 180,000 units in 2019 to 1.2 million in 2025 will be pushed largely by sales in China. Increased emissions regulations in Asia and Europe also will play a major role, according to the new report, Awareness in the trucking industry that electrification can reduce fuel and maintenance costs also is increasing; a trucking electrification analyst with Interact, told Trucks.com. Active Companies from around the markets today with current and recent developments include: Trackloop Analytics Corp.

An additional segment to keep watch over is the aftermarket auto parts industry, since the worldwide market for Auto Parts and Accessories is expected to grow at a CAGR of roughly 4.4% over the next five years, will reach 2543700 million US$ in 2024, from 1969100 million US$ in 2019, according to a new GIR (Global Info Research) study.

Trackloop Analytics is pleased to announce, in collaboration with Volta Air Technologies and BYD Company Ltd, one of the first all-electric refrigeration delivery vehicles demonstrated for commercial use in North America. BYD, of which Berkshire Hathaway Inc. is one of the biggest shareholders, is the largest electric vehicle manufacturer in the world. BYD plans to offer all-electric refrigeration delivery vehicles in North America. The demonstration vehicles use Volta Air's latest transport refrigeration unit equipped with Trackloop's real-time cold-chain monitoring & tracking software to create zero-emissions refrigerated delivery vehicles.

This collaboration has created a disruptive solution which will be alternative to conventional refrigeration units for urban delivery vehicles. Most delivery vehicles used commercially are either petrol-powered or diesel-powered and consume a significant amount of fuel. Trackloop's software allows users to monitor and control all systems related to operation of the refrigeration unit, as well as location tracking. The two vehicles are currently being used for commercial demonstration purposes by Baldor Electric Company, owned by ABB Group, in New York and Raley's Supermarkets & D&D Produce in California. The vehicles have also been showcased at several food delivery and advanced transportation expos.

"We are very proud to be with leaders in the the food logistics industry, involved in building a more sustainable future. Working with BYD Motors and Volta Air on this project to successfully demonstrate the value of all-electric refrigeration delivery vehicles is a massive milestone in the company's roadmap, and the industry as a whole," said Trackloop CTO, Zayn Kalyan.

Trackloop is looking beyond existing technology to the future of the delivery vehicle industry as electrification and automation takes over the motor-vehicle industry as a whole. The company's vision is to be vehicle agnostic and push the envelope, ensuring robust integration to electric and autonomous delivery vehicles.