A new report by information services firm IHS Markit predicts the majority of commercial fleet vehicles will still be using diesel in 2040.
According to the company’s “Reinventing the Truck” report, an estimated 66 percent of new medium and heavy commercial vehicles will still be diesel powered. While that is significantly less than the current market share of 80 percent, it still represents a substantial majority. While other types of vehicles will likely continue to become more popular, range and load capacity requirements for long haul trucking will most likely make diesel engines necessary long term.
The report analyzed the world’s largest trucking markets. In addition to its findings on diesel, the report also predicted a significant growth rate for battery electric vehicles, particularly medium-duty trucks.