By 2030, over one in four new passenger cars sold will be an electric vehicle. But the same can't be said about trucks, according to S&P Mobility. 

According to data from S&P Mobility, no single fuel or powertrain type will account for the majority of sales in medium-duty (Classes 4-7) and heavy-duty (Class 8) trucks by 2050.

Battery-electric trucks (BEV) will have a plurality of sales in the medium- and heavy-duty segments. However, six fuel and powertrain types — diesel, gasoline, compressed/liquid natural gas (CNG/LNG), hybrid-electric (HEV), fuel-cell electric (FCEV), and hydrogen/internal combustion engines (H2-ICE) — will maintain significant percentages of sales.

Growth Driven by Regulations

In the midterm, electrification growth will be primarily driven by the regulatory environment, with subsequent sales driven by lower costs for zero-emissions vehicles (BEV, FCEV, and H2-ICE) compared to gas- and diesel-fueled vehicles, according to S&P Mobility.