ACT Research recently announced plans for a new multi-client study focusing on electrification of the commercial vehicle industry to be released in 2021.
According to Jim Meil, ACT’s Principal, Industry Analyst, “Driven by a combination of advances in battery technology, environmental considerations and government policy, and long-term potential for significant operational cost savings, electric-based propulsion systems for commercial vehicles are likely to capture a substantial share of the commercial vehicle market over the next two decades. Clearly this poses a threat to internal combustion engines, as electric power displaces today’s dominant power source. Such a change would constitute the most revolutionary development for the motor vehicle industry in the last 100 years.” He added, “Given the progress of the technology, products, and evolution of the competitive arena since the publication of ACT’s first CEV report two years ago, the time has come to revisit the 2018 study. Our intent is to expand the scope of the study to new electric power sources, extend the time horizon to 2040, and to refresh the assumptions and the resulting market outlook.”
Meil continued, “We are gratified by the enthusiastic reception our study has received thus far. Already on board for the 2021 work are traditional ACT Research customers, plus new names for us that we are excited to be working with for the first time. The market response has surprised and delighted us so far, and we look forward to adding more customers in the days ahead.”
The scope of the study will include unit sales for the US and Canada, annually from 2020 to 2030, with single-year outlooks for 2035 and 2040. Class 8 truck and Classes 4-7 truck and bus segments will be considered, with additional segmentation encompassing step vans, conventional and low cab forward trucks, RV, school bus, yard spotter, transit bus categories, as well as the Class 8 straight, day cab, and sleeper subcategories. Our research will compare purchase and operational costs for diesel, battery, fuel cell, and hybrid powertrains in a rigorous comparative total cost of ownership (TCO) framework. It will also take into account concerns, such as infrastructure requirements and costs, regulation, and issues including maintenance, range, durability and vehicle and component replacement.
According to ACT Research’s President and Senior Analyst, Kenny Vieth, “ACT Research is uniquely positioned to forecast these market developments. Starting as early as 2011 with our first report on natural gas-powered commercial vehicles, we have been at the forefront in analyzing and forecasting the growth of alternative fuels and power in the North American market.’ He also noted, “This leadership position was affirmed in 2018 with the release of our first commercial electric vehicle report, Commercial Vehicle Electrification: To Charge or Not to Charge, a comprehensive review, and forecast of sales and share trends for battery electric power within the broader commercial vehicle universe.”
Additionally, ACT Research is recognized as the leading publisher of commercial vehicle truck, trailer, and bus industry data, market analysis and forecasts for the North America and China markets. ACT’s analytical services are used by all major North American truck and trailer manufacturers and their suppliers, as well as banking and investment companies. ACT Research is a contributor to the Blue Chip Economic Indicators and a member of the Wall Street Journal Economic Forecast Panel. ACT Research executives have received peer recognition, including election to the Board of Directors of the National Association for Business Economics, appointment as Consulting Economist to the National Private Truck Council, and the Lawrence R. Klein Award for Blue Chip Economic Indicators’ Most Accurate Economic Forecast over a four-year period. ACT Research senior staff members have earned accolades including Chicago Federal Reserve Automotive Outlook Symposium Best Overall Forecast, Wall Street Journal Top Economic Outlook, and USA Today Top 10 Economic Forecasters. More information can be found at www.actresearch.net.