Market Overview: Fleet Decarbonization
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Executive Summary
The electrification and optimization of fleets is shifting from a health and safety prerogative – mainly focused around air quality – to a decarbonization priority for many businesses. Sectors with a high proportion of fleet emissions, such as postal services, telecommunications and consumer goods, are setting ambitious reduction targets, and adopting different levers to decarbonize their fleets – ranging from optimizing existing fleets to purchasing electric vehicles (EVs) and sustainable fuels. This report identifies tech solutions and innovations in the fleet decarbonization market, as well as new business models, and examines how they are evolving.
Table of contents
The market for fleet decarbonization is expanding as firms address high transport emissionsCorporate strategies to tackle fleet emissions vary by industry
The five levers of fleet decarbonization
Innovations in fleet decarbonization solutions will drive market expansion
Battery and recycling innovation will propel fleet decarbonization and limit environmental impacts
OEMs, start-ups and established providers invest in charging infrastructure offerings
Alternative fuels gain traction as interim solutions for hard-to-electrify heavy-duty vehicles
Software solutions support fleet decarbonization strategy development and implementation
Table of figures
Figure 1. In the GHG Protocol, fleet emissions fall into all three ScopesFigure 2. Organizations will prioritize investment in charging infrastructure, alternative fuels and current fleet upgrades over the next three years
Figure 3. The five fleet decarbonization levers
Figure 4. Major investments in battery manufacturing and recycling firms: August 2023 to February 2024
Figure 5. Fleet managers and sustainability leads require similar data for different priorities
Organisations mentioned
Å Energi, ABB, Allianz, Alphabet International, Amazon, Amazon Web Services (AWS), Ascend Elements, AT&T, Ben & Jerry’s, BlackRock, BMW, Bolt Earth, BP, Breakthrough Energy Ventures, BT Group, California Energy Commission (CEC), Capricorn Investment Group, Chevron, Clearvision Ventures, Cohort Ventures, CTVC, Daily Logistics Group (DLG), Daimler Truck, Decarbonization Partners, DHL, DPD, Dynamon, Eight Roads, Electra, Element Energy, EV Connect, ev.energy, Exponent Energy, FedEx, General Motors, Geotab, GHG Protocol, Goldman Sachs Asset Management, Green Biofuels, Heliox, Hertz, Holcim, Hyundai, InCharge Energy, INERATEC, International Council on Clean Transportation, International Energy Agency (IEA), IRONGREY, Just Climate, LG Energy Solution, Maj Invest, Marubeni Corporation, maxwell+spark, McKinsey & Company, Mercedes-Benz Trucks, Mitra Chem, Morrow Batteries, National Grid, National Grid Partners, Nikola Corporation, Northvolt, Nysnø, PepsiCo, PGGM, PKA, Plan A, Proctor & Gamble, Proterra, Qatar Investment Authority, Redwood Materials, ROCSYS, Rondo Energy, Royal Mail, Schneider Electric, Shell, Siemens, Sightline Climate, Sion Power, SIXT, Skeleton Technologies, T. Rowe Price, Temasek Holdings, Tesla, Toyota, Traton Group, Unilever, UPS, US Environmental Protection Agency (EPA), USPS (United States Postal Service), VDL, Veolia, Viridos, Volkswagen, Volta Trucks, Volvo Group, Volvo Trucks, WalmartAbout the authors
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