Electric Commercial Vehicle Market by Propulsion, Vehicle Type, Range, Battery Type, Length of Bus, Power Output, Battery Capacity, Component, Autonomous Vehicle, End User, Truck Payload Capacity and Region - Global Forecast 2030
[323 Pages Report] The global Electric Commercial Vehicle Market was valued at 353 thousand units in 2022, and it is expected to reach 3,144 thousand units by 2030, at a CAGR of 31.4%. Factors such as growing demand for low emission commuting and governments supporting zero emission transportation for electric commercial vehicles including buses, trucks, pickups and vans through subsidies & tax rebates have compelled the manufacturers to develop ECVs for the world. While the ECV market was led mainly by electric buses in the past, currently the market has a considerable demand for electric vans as well. In the coming years, we can expect a high demand for electric pickups with a large number of pre-booking in these vehicles. Companies like Rivian, Ford, GM, and Tesla are expected to develop their electric pickup range in the coming years with a growing demand.
Increasing government and private investments to develop infrastructure for charging and hydrogen fueling will create opportunities for OEMs. This will to expand their revenue stream and geographical presence for electric commercial vehicles. The electric commercial vehicle market in Asia Pacific is expected to be the largest with a high demand for electric public transportation and logistics services. Meanwhile, the European ECV market will be led by electric van sales with major countries planning to switch to all electric by 2030-2035. Further, the North American ECV market will be growing with the number of electric pickup sales in the region. Electric trucks will also gain a considerable traction towards the end of this decade.
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Market Dynamics:
Driver: Rising prices of fossil fuels will increase demand for ECVs due to lower cost of electricity
According to the US Energy Information Administration (EIA), 97.45 million barrels per day were consumed in 2021. The prices of petrol in the international market have been rising over the years except for exceptional times such as the COVID-19 pandemic. The increase in prices is due to the high demand for petrol. Since it is a non-renewable energy resource, it is expected to be exhausted during the next few decades. Fluctuations in the demand and supply of petrol lead to increasing prices. Even though various treaties have been formed to control petrol prices in the international market, prices have risen over the years. As most of the countries are required to import petrol, its usage contributes to lowering the balance of trade of the economy. The limited petroleum reserves and rising fuel prices have led automakers to consider alternative fuel sources for their vehicles. Petroleum prices have doubled in the past few decades and are expected to grow further due to the Russia-Ukraine war in 2022. This is expected to lead to another push to shift to EVs to reduce daily traveling costs worldwide. The tax rates also affect the price of fossil fuels around the world. The US has the lowest tax on fuel (19%), while India has around 69% tax on fuel. All these factors have pushed fuel prices around the world in the past 2 decades. The cost of operation of ECVs, is much lower than conventional ICE commercial vehicles. This will lead to a growth in demand for electric commercial vehicles due to their lower operation cost compared to the high price of using ICE commercial vehicles.
Restraint: Insufficient EV infrastructure to slow ECV adoption
The low charging density in most countries due to insuffiecient EV charging infrastructure will be a restraining factor in the evolution of the ECV market. While most countries are planning to develop their EV infrastructure, few have developed appropriate infrastructure for a total EV shift. The Netherlands has had the largest EV charger density of more than 100 per Km. In the case of commercial vehicles, while vans and pickups can be charged using the charging points developed for electric passenger cars, most fleet providers prefer dedicated charging stations for their fleets. Electric buses and trucks also require pantographs and specific charging ports for their daily charging. The charging infrastructure for electric commercial vehicles is much more limited than for passenger cars. This is mainly due to the low setup rate by third-party providers, as utilization is low if the provider lacks fleet.
Opportunity: Development of wireless EV charging technology for on-the-go charging to fuel market
The wireless technology for on-the-go charging has been under development for the past few years. Once this technology matures, people will not need to charge their vehicles as these are expected to be automatically charged while in use. This technology is currently significantly high priced but may be used in the coming decades. It is expected to significantly impact the EV market as the sales are expected to increase at a high rate when this technology is applied. As of 2021, wireless EV charging is available for stationary charging. In Norway, a trial of wireless on-the-go EV charging is undertaken, which is expected to cater to a 25 Oslo-based fleet of Jaguar I-pace taxis and enable charging. The Norwegian capital has launched an initiative called ElectriCity, which aims to make its taxi system emission-free by 2024.
Challenge: Lower availability of lithium for use in EV Batteries
Lithium and lithium-ion batteries are experiencing major shortages with the growth in EV demand. The world only produces around 80,000 tons of lithium globally. While top EV manufacturers are planning to find other alternatives, and reduce the usage of lithium, a viable similar cost option is yet to be found. This will lead to lithium prices rising in the coming decade. OEMs are also developing solid state battery technology, which will use less lithium and provide a longer range per EV charge. This is a major challenge to the fast growth in EV demand, especially in countries that do not have lithium deposits. While the demand for lithium will keep increasing with EV demand, we can expect a shortage in lithium by 2025. Even on increasing lithium mining, the demand will outgrow supply by 2026, which is expected to increase lithium costs due to insufficient supplies, thus increasing the cost of EVs post 2026. Thus, many countries are looking for alternate sources except EVs for reducing the environmental impact of vehicle emissions. These challenges need to be overcome to facilitate the growth of the electric commercial vehicle market.
The BEV segment to be the largest segment during the forecast period
An electric vehicle that runs completely on a battery is termed a BEV. The vehicle runs with the help of a permanent magnet motor powered by a battery installed in the vehicle. The average range of BEVs is 150 to 200 miles and varies based on battery type installation. The buses, vans, and trucks installed with the BEV propulsion system are generally used for intracity travel purposes. Since intracity is the most common application for these vehicles, BEVs are expected to witness strong demand in the near future. The electricity used to power the vehicles costs less than diesel fuel, which further lowers the operational costs for buses. With advancements in battery technology and a continuous decrease in battery prices, the overall costs of BEVs are expected to decrease in the near future. Transit agencies in the US and several other countries are purchasing pure battery-electric buses at increasing rates, and this trend is expected to accelerate in the coming years. In addition, maintenance costs for electric motors are much lower because they have far fewer moving parts than conventional motors and are far more efficient. In November 2021, NFI (Canada) announced its first order from the University of Michigan for up to 54 battery-electric buses. BYD, Yutong, Proterra, and Ankai offer advanced pure electric buses incorporated with innovative technologies. For instance, Ankai’s HFF6705BEV electric bus is a 17-seater BEV with a maximum speed of 100 km/h. OEMs are focused more on launching BEV buses, which would be a driving factor for the BEV market in the coming years. For instance, in September 2020, Proterra introduced its newest battery-electric transit vehicle, ZX5 electric bus. Its fifth-generation battery-electric transit bus features a new streamlined vehicle design. It maximizes the energy stored onboard the vehicle to increase power and range. BYD, AB Volvo (Sweden), and PACCAR (US) offer advanced electric trucks and electric pick-up trucks incorporated with innovative technologies.
The Asia Pacific market is projected to hold the largest share by 2030
The Asia Pacific market is dominated by China, which has large sales volumes for electric commercial vehicles, especially electric buses. With favorable government regulations and the increasing adoption of electric buses in public transport fleets, India is expected to be a high potential market for electric commercial vehicles in the future. Asia Pacific is home to many OEMs, especially Chinese companies, dominating the global electric commercial vehicle market. Japan also plays a vital role in automotive technology in Asia Pacific. With advancements in technologies such as FCEV and PHEV, the Japanese market is expected to grow. In October 2020, BYD (China) and Hino Motors (Japan) signed a joint venture agreement to set up a new company in China in 2021 to develop commercial battery electric vehicles. As of early 2022, the JV is yet to be established, but the companies have been working together on electric commercial vehicles Such developments are expected to boost the market in the region.
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Key Market Players
The electric commercial vehicle market is dominated by established players such as BYD (China), Yutong (China), AB Volvo (Sweden), VDL Groep (Netherland), and CAF (Spain). The market ranking has been derived by considering ECV sales and a certain percentage of segmental revenue for each of the companies mentioned above. These companies also offer extensive products and solutions for the automotive industry. These companies have strong distribution networks at the global level, and they invest heavily in R&D to develop new products.
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|
Report Metric |
Details |
|
Market Revenue in 2022 |
353 Thousand Units |
|
Estimated Revenue by 2030 |
3,144 Thousand Units |
|
Revenue Rate |
Projected to grow at a CAGR of 31.4% |
|
Market Driver |
Rising prices of fossil fuels will increase demand for ECVs due to lower cost of electricity |
|
Market Opportunity |
Development of wireless EV charging technology for on-the-go charging to fuel market |
|
Key Market Players |
BYD (China), Yutong (China), AB Volvo (Sweden), VDL Groep (Netherland), and CAF (Spain). |
This research report categorizes the electric commercial vehicle market based on vehicle type, propulsion, battery type, range, length of bus, power output, component, battery capacity, end use, autonomous vehicle, truck payload capacity and region
Base on Component
- Battery Cells & Packs
- On-Board Charge
- Motor
- Reducer
- Fuel Stack
- Power Control Unit
- Battery Management System
- Fuel Processor
- Power Conditioner
- Air Compressor
- Humidifier
Based on Vehicle Type:
- Bus
- Pickup Truck
- Truck
- Van
Based on Battery Type:
- Lithium-iron-phosphate (LFP)
- Nickel-manganese-cobalt (NMC)
- Solid-state battery
- Others
Based on Battery Capacity:
- Less than 50 kWh
- 50-250 kWh
- Above 250 kWh
Based on Propulsion
- Battery Electric Vehicle (BEV)
- Fuel Cell Electric Vehicle (FCEV)
- Plug-in Hybrid Electric Vehicle (PHEV)
Based on End User:
- Last Mile Delivery
- Distribution
- Field Services
- Long Haul Transportation
- Refuse Services
Based on Truck Payload Capacity:
- Less than 10,000 LBS
- 10,001 – 26,000 LBS
- Greater than 26,001 LBS
Based on Autonomous Vehicle:
- Electric Autonomous Truck
- Electric Autonomous Bus
Based on Length of Bus:
- Less than 9m
- 9-14m
- More than 14m
Based on the region:
-
Asia Pacific
- China
- India
- Japan
- South Korea
-
North America
- Canada
- US
-
Europe
- Austria
- Belgium
- Denmark
- France
- Germany
- Ireland
- Italy
- Netherlands
- Norway
- Portugal
- Spain
- Sweden
- Switzerland
- UK
Recent Developments
- In January 2022, AB Volvo launched the enhanced version of Volvo VNR Electric with up to 85% increased range and faster charging.
- In December 2021, BYD launched an electric van model ETP3 with a 50.3 kWh NMC battery and a range of 269 km. The new electric van is 4.46-meter-long and has a payload capacity of 720 kg.
- In December 2021, BYD launched an electric truck model, ETM 6. It is a 7.5-ton truck that offers a payload of 3,990 kilograms. The ETM 6 is 5.95 meters long, 2.10 meters wide, and 2.94 meters high.
- In December 2021, Yutong launched 90 new 5G-enabled Smart buses in Panjin, Liaoning Province, China, starting an era of 5G-enabled smart buses. This launch has helped improve road transport usage, eliminating environmental pollution and traffic congestion, and paving the way for the 5G smart rapid bus system.
- In November 2021, Yutong launched T7 Galaxy Edition High End Commercial Vehicle taking EV bus luxury to the next level and redefining an era of high-end public business transport. The model integrates multiple excellent designs like the Romantic Starry Sky top to the business atmosphere of the Sit-Down Negotiation table.
- In September 2021, CAF launched its Urbino 7 Bus. A highly flexible model that adapts to local circumstances, the bus is best suited for cramped city spaces, difficult road conditions, longer routes, steep climbs, and tight mountain bends.
- In September 2021, AB Volvo launched Volvo BZL Electric Chassis for sustainable and efficient public transport in cities worldwide and reliable and profitable operations for customers.
- In July 2021, VDL received a supply contract for 30 FMD2-129, 1 FMD2-135, and 21 Mideuros in intercity version from BBus, making it VDL’s debut in Latvia’s public transport sector.
- In May 2021, VDL launched its new generation Citeas, a range of articulated electric buses with 4 length variants and 5 types. The key focus in design is said to be on innovations like batteries in the floor, a one-piece composite sidewall, clever energy management, a sophisticated climate control system, and an ergonomic driver's environment.
Frequently Asked Questions (FAQ):
What is the current size of the global electric commercial vehicle market?
The global electric commercial vehicle market size is projected to grow from 353 thousand units in 2022 to 3,144 thousand units by 2030, at a CAGR of 31.4%.
Who are the winners in the global electric commercial vehicle market?
The electric commercial vehicle market is dominated by established players such as BYD (China), Yutong (China), AB Volvo (Sweden), VDL Groep (Netherland), and CAF (Spain). These companies also offer extensive products and solutions for the automotive industry. These companies have strong distribution networks at the global level, and they invest heavily in R&D to develop new products.
What is the Covid-19 impact on electric commercial vehicle manufacturers?
Most ECV Manufacturers incurred slight losses due to decline in sales during the initial months of the pandemic. The sales recovered in the latter months as demand for zero emission vehicles surged, with overall the companies suffered moderate amount of losses in 2021 and early 2022.
What are the new market trends impacting the growth of the electric commercial vehicle market?
EV battery price reductions, connected vehicles, battery management system, wireless on the go charging are the key market trends or technologies which will have a major impact on the electric commercial vehicle market in the future.
What are the different components used in the electric commercial vehicle market?
Electric-powered commercial vehicles are gaining a rapid market share due to the emission reduction measures by countries worldwide. Electric commercial vehicles are very efficient as they consume less energy and have significantly low emissions, making them environment-friendly automobiles. The sales of electric commercial vehicles have increased the demand for various components such as batteries, instrument clusters, infotainment systems, and onboard chargers. Batteries are the most important part of any electric commercial vehicle as they provide power to the drivetrain. They are also the costliest part of the electric commercial vehicle. The Battery Management System (BMS) is also known as the brain of a vehicle as it manages the output, charging, and discharging of the battery. They control power output from battery packs to the ECV. Each electric commercial vehicle has an inbuilt rechargeable battery. The battery accounts for 70% of the weight of an electric commercial vehicle. In the future, it is expected to be reduced significantly with the increase in the power holding capacity of a battery. .
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TABLE OF CONTENTS
1 INTRODUCTION (Page No. - 25)
1.1 OBJECTIVES OF THE STUDY
1.2 MARKET DEFINITION
TABLE 1 ELECTRIC COMMERCIAL VEHICLE MARKET DEFINITION, BY PROPULSION
TABLE 2 MARKET DEFINITION, BY VEHICLE TYPE
TABLE 3 MARKET DEFINITION, BY END USER
TABLE 4 MARKET DEFINITION, BY COMPONENT
TABLE 5 MARKET DEFINITION, BY BATTERY TYPE
TABLE 6 MARKET DEFINITION, BY POWER OUTPUT
TABLE 7 MARKET DEFINITION, BY BATTERY CAPACITY
TABLE 8 MARKET DEFINITION, BY AUTONOMOUS VEHICLE
TABLE 9 MARKET DEFINITION, BY LENGTH OF BUS
TABLE 10 ELECTRIC TRUCK MARKET DEFINITION, BY TRUCK PAYLOAD CAPACITY
TABLE 11 MARKET DEFINITION, RANGE
1.2.1 INCLUSIONS & EXCLUSIONS
TABLE 12 INCLUSIONS & EXCLUSIONS IN THE MARKET
1.3 MARKET SCOPE
FIGURE 1 MARKETS COVERED
1.3.1 YEARS CONSIDERED FOR STUDY
1.4 CURRENCY & PRICING
TABLE 13 CURRENCY EXCHANGE RATES
1.5 PACKAGE SIZE
1.6 STAKEHOLDERS
1.7 LIMITATIONS
1.8 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY (Page No. - 36)
2.1 RESEARCH DATA
FIGURE 2 ELECTRIC COMMERCIAL VEHICLE MARKET: RESEARCH DESIGN
FIGURE 3 RESEARCH DESIGN MODEL
2.1.1 SECONDARY DATA
2.1.1.1 Key secondary sources for market
2.1.1.2 Key data from secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 Primary interviews – demand and supply sides
2.1.2.2 Key industry insights and Breakdown of Primary Interviews
FIGURE 4 KEY INDUSTRY INSIGHTS
FIGURE 5 BREAKDOWN OF PRIMARY INTERVIEWS
2.1.2.3 List of primary participants
2.2 MARKET SIZE ESTIMATION
FIGURE 6 RESEARCH METHODOLOGY: HYPOTHESIS BUILDING
2.2.1 BOTTOM-UP APPROACH
FIGURE 7 BOTTOM-UP APPROACH: MARKET
2.2.2 TOP-DOWN APPROACH
FIGURE 8 TOP-DOWN APPROACH: MARKET
FIGURE 9 MARKET: MARKET ESTIMATION NOTES
FIGURE 10 MARKET: RESEARCH DESIGN & METHODOLOGY – DEMAND SIDE
2.3 DATA TRIANGULATION
FIGURE 11 DATA TRIANGULATION METHODOLOGY
2.4 FACTOR ANALYSIS
FIGURE 12 MARKET GROWTH PROJECTIONS FROM DEMAND-SIDE DRIVERS AND OPPORTUNITIES
2.4.1 FACTOR ANALYSIS FOR MARKET SIZING: DEMAND AND SUPPLY-SIDE
2.5 RESEARCH ASSUMPTIONS
2.6 RESEARCH LIMITATIONS
3 EXECUTIVE SUMMARY (Page No. - 52)
FIGURE 13 MARKET: MARKET OVERVIEW
FIGURE 14 MARKET, BY REGION, 2022–2030 (THOUSAND UNITS)
FIGURE 15 BEVS EXPECTED TO HOLD LARGEST MARKET DURING FORECAST PERIOD (2022–2030)
4 PREMIUM INSIGHTS (Page No. - 56)
4.1 ATTRACTIVE OPPORTUNITIES IN MARKET
FIGURE 16 INCREASING DEMAND FOR ZERO-EMISSION COMMUTING TO DRIVE MARKET
4.2 MARKET GROWTH RATE, BY REGION
FIGURE 17 ASIA PACIFIC PROJECTED TO BE LARGEST MARKET DURING FORECAST PERIOD
4.3 MARKET, BY BATTERY TYPE
FIGURE 18 LITHIUM-IRON-PHOSPHATE SEGMENT TO GROW AT FASTER RATE (2022–2030)
4.4 MARKET, BY BATTERY CAPACITY
FIGURE 19 ECVS WITH BATTERY CAPACITY OF 50-250 KWH TO DOMINATE MARKET DURING FORECAST PERIOD (2022–2030)
4.5 ELECTRIC BUS MARKET, BY LENGTH OF BUS
FIGURE 20 9-14 METERS BUSES TO OCCUPY LARGER MARKET SHARE DURING FORECAST PERIOD (2022–2030)
4.6 MARKET, BY PROPULSION
FIGURE 21 FCEVS EXPECTED TO EMERGE FASTER DURING FORECAST PERIOD (2022–2030)
4.7 MARKET, BY POWER OUTPUT
FIGURE 22 ECVS WITH POWER OUTPUT OF 100-250 KWH DEMAND EXPECTED TO GROW HIGHER DURING FORECAST PERIOD (2022–2030)
4.8 MARKET, BY RANGE
FIGURE 23 ABOVE 300 MILES RANGE ECV DEMAND TO HAVE HIGHER DEMAND DURING FORECAST PERIOD (2022–2030)
4.9 MARKET, BY VEHICLE TYPE
FIGURE 24 PICKUP TRUCKS TO WITNESS RAPID GROWTH DURING FORECAST PERIOD (2022–2030)
4.10 MARKET, BY END USER
FIGURE 25 LAST MILE DELIVERY TO BE MOST COMMON APPLICATION OF ECVS DURING FORECAST PERIOD (2022–2030)
4.11 ELECTRIC TRUCK MARKET, BY TRUCK PAYLOAD CAPACITY
FIGURE 26 ECVS WITH TRUCK PAYLOADS OF UP TO 10,000 LBS EXPECTED TO BE HIGHEST-SELLING ECVS DURING FORECAST PERIOD (2022–2030)
5 MARKET OVERVIEW (Page No. - 62)
5.1 INTRODUCTION
FIGURE 27 ROLE OF STARTUPS IN EV ECOSYSTEM
5.2 MARKET DYNAMICS
FIGURE 28 ELECTRIC COMMERCIAL VEHICLE MARKET: MARKET DYNAMICS
5.2.1 DRIVERS
5.2.1.1 Reducing prices of EV batteries to increase demand for ECVs
FIGURE 29 EV BATTERY PRICING ANALYSIS
5.2.1.2 Rising prices of fossil fuels to raise demand for ECVs
FIGURE 30 AVERAGE GLOBAL PETROL PRICES
FIGURE 31 COMPARISON OF OPERATING COST OF EVS AND ICE VEHICLES
5.2.1.3 Increasing demand for emission-free commercial vehicles and electric vehicles in logistics industry to drive market demand
FIGURE 32 GLOBAL FUEL ECONOMY AND CO2 EMISSION DATA
TABLE 14 POTENTIAL MARKET FOR NEW ZERO-EMISSION BUSES PER YEAR ACROSS EUROPE
5.2.1.4 Government support for electric commercial vehicles
TABLE 15 GOVERNMENT PROGRAMS FOR PROMOTION OF ELECTRIC COMMERCIAL VEHICLE SALES
FIGURE 33 ELECTRIFICATION TARGETS BY COUNTRIES
5.2.2 RESTRAINTS
5.2.2.1 High development costs to delay ECV launches in market
FIGURE 34 AVERAGE COST OF DIESEL VS ELECTRIC BUSES
5.2.2.2 Concerns over battery safety to restrain market development
FIGURE 35 BATTERY SAFETY ARCHITECTURE
5.2.2.3 Insufficient EV charging infrastructure to slow ECV adoption
FIGURE 36 COUNTRY-WISE COMPARISON OF EV CHARGER DENSITY, 2020
5.2.2.4 Lower vehicle range hampers use for long-distance logistics
5.2.3 OPPORTUNITIES
5.2.3.1 New revenue pockets in North America and Northern Europe to provide market growth opportunities
5.2.3.2 Development of wireless EV charging technology for on-the-go charging to fuel market
FIGURE 37 WORKING OF WIRELESS EV CHARGING
5.2.3.3 Use of EVs for fleets and commercial applications to boost ECV market
TABLE 16 MAJOR EV FLEET TARGETS
5.2.4 CHALLENGES
5.2.4.1 Limited battery capacity to challenge market growth
TABLE 17 BATTERY CAPACITIES OF POPULAR ELECTRIC BUSES
5.2.4.2 Lower availability of lithium for EV batteries to act as hurdle for manufacturers
FIGURE 38 LITHIUM-ION DEMAND AND SUPPLY
5.2.4.3 Insufficient global grid infrastructure to limit adoption of electric commercial vehicles
FIGURE 39 GRID REQUIREMENT FOR EVS IN GERMANY BY 2030
TABLE 18 MARKET: IMPACT OF MARKET DYNAMICS
5.3 PORTER’S FIVE FORCES MODEL ANALYSIS
FIGURE 40 MARKET: PORTERS 5 FORCES ANALYSIS
TABLE 19 MARKET: IMPACT OF PORTER’S FIVE FORCES
5.3.1 THREAT OF SUBSTITUTES
5.3.2 THREAT OF NEW ENTRANTS
5.3.3 BARGAINING POWER OF BUYERS
5.3.4 BARGAINING POWER OF SUPPLIERS
5.3.5 INTENSITY OF COMPETITIVE RIVALRY
5.4 UPCOMING ELECTRIC TRUCKS AND PICKUPS
TABLE 20 UPCOMING ELECTRIC TRUCKS AND PICKUPS
5.5 MARKET ECOSYSTEM
FIGURE 41 MARKET: ECOSYSTEM ANALYSIS
5.5.1 EV CHARGING INFRASTRUCTURE PROVIDERS
5.5.2 TIER II SUPPLIERS
5.5.3 TIER I SUPPLIERS
5.5.4 OEMS
TABLE 21 MARKET: ROLE OF COMPANIES IN ECOSYSTEM
5.6 NOTABLE DEVELOPMENTS IN EV MARKET (2021)
FIGURE 42 NOTABLE EVENTS Q1 2021
FIGURE 43 NOTABLE EVENTS Q2 2021
FIGURE 44 NOTABLE EVENTS Q3 2021
FIGURE 45 NOTABLE EVENTS Q4 2021
5.7 SUPPLY CHAIN ANALYSIS
FIGURE 46 SUPPLY CHAIN ANALYSIS: MARKET
5.7.1 ELECTRIC CHARGING INFRASTRUCTURE PROVIDERS
5.7.2 TIER II SUPPLIERS
5.7.3 TIER I SUPPLIERS
5.7.4 OEMS
5.7.5 END USERS
TABLE 22 MARKET: SUPPLY CHAIN STAKEHOLDERS AND THEIR STRATEGIES
5.8 ELECTRIC COMMERCIAL VEHICLE PRICING ANALYSIS
TABLE 23 AVERAGE PRICE OF SELECT ELECTRIC BUS MODELS
TABLE 24 AVERAGE PRICE OF SELECT ELECTRIC TRUCK MODELS
TABLE 25 AVERAGE PRICE OF SELECT ELECTRIC VAN MODELS
TABLE 26 AVERAGE PRICE OF SELECT ELECTRIC PICKUP MODELS
5.9 CASE STUDY
5.9.1 ADOPTION OF ELECTRIC BUSES AS PUBLIC TRANSPORT IN FINLAND
5.9.2 ADOPTION OF ELECTRIC BUSES AS PUBLIC TRANSPORT IN SHENZHEN, CHINA
5.9.3 USER EXPERIENCE OF BATTERY ELECTRIC TRUCKS IN NORWAY
5.10 BUYING CRITERIA
5.10.1 KEY STAKEHOLDERS & BUYING CRITERIA
5.10.2 KEY STAKEHOLDERS IN BUYING PROCESS
FIGURE 47 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR TOP 2 VEHICLE TYPE
TABLE 27 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR TOP 2 ELECTRIC COMMERCIAL VEHICLES (%)
5.10.3 BUYING CRITERIA
FIGURE 48 KEY BUYING CRITERIA FOR TOP 2 VEHICLE TYPE
TABLE 28 KEY BUYING CRITERIA FOR TOP 2 ELECTRIC COMMERCIAL VEHICLE PRODUCTS
5.11 TECHNOLOGY ANALYSIS
5.11.1 INNOVATIVE CHARGING SOLUTIONS
5.11.1.1 Off-board top-down pantograph charging system
5.11.1.2 On-board bottom-up pantograph charging system
5.11.1.3 Ground-based static/dynamic wireless charging system
5.11.2 PACKAGED FUEL CELL SYSTEM MODULE
FIGURE 49 NEW PACKAGED FUEL CELL SYSTEM MODULE BY TOYOTA
5.11.3 METHANE FUEL CELLS
5.12 PATENT ANALYSIS
5.12.1 INTRODUCTION
FIGURE 50 PUBLICATION TRENDS (2012-2021)
5.12.2 PATENTS PUBLISHED BY MAJOR COMPANIES IN ECV ECOSYSTEM
FIGURE 51 ELECTRIC COMMERCIAL VEHICLE PATENTS, TREND ANALYSIS (2012-2021)
TABLE 29 IMPORTANT PATENT REGISTRATIONS RELATED TO MARKET
5.13 TRENDS AND DISRUPTIONS IN MARKET
FIGURE 52 TRENDS AND DISRUPTIONS IN MARKET
5.14 REGULATORY OVERVIEW
5.14.1 NETHERLANDS
TABLE 30 NETHERLANDS: ELECTRIC VEHICLE INCENTIVES
TABLE 31 NETHERLANDS: ELECTRIC VEHICLE CHARGING STATIONS INCENTIVES
5.14.2 GERMANY
TABLE 32 GERMANY: ELECTRIC VEHICLE INCENTIVES
TABLE 33 GERMANY: ELECTRIC VEHICLE CHARGING STATIONS INCENTIVES
5.14.3 FRANCE
TABLE 34 FRANCE: ELECTRIC VEHICLE INCENTIVES
TABLE 35 FRANCE: ELECTRIC VEHICLE CHARGING STATION INCENTIVES
5.14.4 UK
TABLE 36 UK: ELECTRIC VEHICLE INCENTIVES
TABLE 37 UK: ELECTRIC VEHICLE CHARGING STATIONS INCENTIVES
5.14.5 CHINA
TABLE 38 CHINA: ELECTRIC VEHICLE INCENTIVES
TABLE 39 CHINA: ELECTRIC VEHICLE CHARGING STATIONS INCENTIVES
5.14.6 US
TABLE 40 US: ELECTRIC VEHICLE INCENTIVES
TABLE 41 US: ELECTRIC VEHICLE CHARGING STATIONS INCENTIVES
5.14.7 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS, BY REGION
TABLE 42 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 43 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 44 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
5.15 KEY CONFERENCE & EVENTS IN 2022-2023
TABLE 45 MARKET: DETAILED LIST OF CONFERENCES & EVENTS
5.16 MARKET, MARKET SCENARIOS (2022–2030)
FIGURE 53 MARKET: FUTURE TRENDS & SCENARIOS, 2022–2030 (UNITS)
5.16.1 REALISTIC SCENARIO
TABLE 46 MARKET: REALISTIC SCENARIO, BY REGION, 2022–2030 (UNITS)
5.16.2 OPTIMISTIC SCENARIO
TABLE 47 MARKET: OPTIMISTIC SCENARIO, BY REGION, 2022–2030 (UNITS)
5.16.3 PESSIMISTIC SCENARIO
TABLE 48 MARKET: PESSIMISTIC SCENARIO, BY REGION, 2022–2030 (UNITS)
6 ELECTRIC COMMERCIAL VEHICLE MARKET, BY AUTONOMOUS VEHICLE (Page No. - 115)
6.1 INTRODUCTION
6.2 ELECTRIC AUTONOMOUS TRUCK
6.3 ELECTRIC AUTONOMOUS BUS
7 ELECTRIC COMMERCIAL VEHICLE MARKET, BY BATTERY TYPE (Page No. - 117)
7.1 INTRODUCTION
FIGURE 54 NMC SEGMENT TO DOMINATE ELECTRIC COMMERCIAL VEHICLE MARKET IN FORECAST PERIOD
TABLE 49 MARKET SIZE, BY BATTERY TYPE, 2018–2021 (UNITS)
TABLE 50 MARKET SIZE, BY BATTERY TYPE, 2022–2030 (UNITS)
7.1.1 OPERATIONAL DATA
TABLE 51 ELECTRIC COMMERCIAL VEHICLE MODELS, BATTERY TYPE
7.1.2 ASSUMPTIONS
TABLE 52 ASSUMPTIONS: BY BATTERY TYPE
7.1.3 RESEARCH METHODOLOGY
7.2 NICKEL-MANGANESE-COBALT
7.2.1 ADVANCEMENTS IN BATTERY TECHNOLOGY TO BOOST DEMAND FOR NMC BATTERIES IN ECVS
TABLE 53 NICKEL-MANGANESE-COBALT BATTERIES IN MARKET, BY REGION, 2018–2021 (UNITS)
TABLE 54 NICKEL-MANGANESE-COBALT BATTERIES IN MARKET, BY REGION, 2022–2030 (UNITS)
7.3 LITHIUM-IRON-PHOSPHATE
7.3.1 AFFORDABLE PRICES TO DRIVE MARKET FOR LFP BATTERIES
TABLE 55 LITHIUM-IRON-PHOSPHATE BATTERIES IN MARKET, BY REGION, 2018–2021 (UNITS)
TABLE 56 LITHIUM-IRON-PHOSPHATE BATTERIES IN MARKET, BY REGION, 2022–2030 (UNITS)
7.4 OTHERS
7.4.1 OEMS AND STARTUPS WORKING ON ALTERNATIVE BATTERIES TO BOOST MARKET
TABLE 57 OTHER BATTERIES IN MARKET, BY REGION, 2018–2021 (UNITS)
TABLE 58 OTHER BATTERIES IN MARKET, BY REGION, 2022–2030 (UNITS)
7.5 SOLID STATE BATTERY
7.6 KEY INDUSTRY INSIGHTS
8 ELECTRIC COMMERCIAL VEHICLE MARKET, BY BATTERY CAPACITY (Page No. - 125)
8.1 INTRODUCTION
FIGURE 55 50-250 KWH SEGMENT TO GROW FASTEST DURING FORECAST PERIOD
TABLE 59 MARKET SIZE, BY BATTERY CAPACITY, 2018–2021 (UNITS)
TABLE 60 MARKET SIZE, BY BATTERY CAPACITY, 2022–2030 (UNITS)
8.1.1 OPERATIONAL DATA
TABLE 61 ELECTRIC COMMERCIAL VEHICLE MODELS, BY BATTERY CAPACITY
8.1.2 ASSUMPTIONS
TABLE 62 ASSUMPTIONS: BY BATTERY CAPACITY
8.1.3 RESEARCH METHODOLOGY
8.2 LESS THAN 50 KWH
8.2.1 GROWING ELECTRIC VAN SALES TO FUEL LESS THAN 50 KWH SEGMENT
TABLE 63 LESS THAN 50 KWH MARKET, BY REGION, 2018–2021 (UNITS)
TABLE 64 LESS THAN 50 KWH MARKET, BY REGION, 2022–2030 (UNITS)
8.3 50-250 KWH
8.3.1 AFFORDABLE ELECTRIC BUSES AND PICKUP TRUCKS DRIVE 50-250 KWH MARKET IN ASIA PACIFIC
TABLE 65 50-250 KWH MARKET, BY REGION, 2018–2021 (UNITS)
TABLE 66 50-250 KWH MARKET, BY REGION, 2022–2030 (UNITS)
8.4 ABOVE 250 KWH
8.4.1 LONG BUSES AND HEAVY-DUTY TRUCKS TO LEAD MARKET
TABLE 67 ABOVE 250 KWH MARKET, BY REGION, 2018–2021 (UNITS)
TABLE 68 ABOVE 250 KWH MARKET, BY REGION, 2022–2030 (UNITS)
8.5 KEY INDUSTRY INSIGHTS
9 ELECTRIC COMMERCIAL VEHICLE MARKET, BY COMPONENT (Page No. - 133)
9.1 INTRODUCTION
9.2 BATTERY CELLS AND PACKS
9.3 ONBOARD CHARGER
9.4 MOTOR
9.5 REDUCER
9.6 POWER CONTROL UNIT
9.7 BATTERY MANAGEMENT SYSTEM
9.8 FUEL CELL STACK
9.9 FUEL PROCESSOR
9.10 POWER CONDITIONER
9.11 AIR COMPRESSOR
9.12 HUMIDIFIER
10 ELECTRIC BUS MARKET, BY LENGTH OF BUS (Page No. - 137)
10.1 INTRODUCTION
FIGURE 56 9-14 M SEGMENT TO DOMINATE ELECTRIC BUS MARKET IN FORECAST PERIOD
TABLE 69 ELECTRIC BUS MARKET SIZE, BY LENGTH OF BUS, 2018–2021 (UNITS)
TABLE 70 ELECTRIC BUS MARKET SIZE, BY LENGTH OF BUS, 2022–2030 (UNITS)
10.1.1 OPERATIONAL DATA
TABLE 71 ELECTRIC BUS MODELS, BY LENGTH OF BUS
10.1.2 ASSUMPTIONS: LENGTH OF BUS
10.1.3 RESEARCH METHODOLOGY
10.2 LESS THAN 9M
10.2.1 HIGH DEMAND FOR ELECTRIC BUSES ON NARROW ROADS TO INCREASE DEMAND
TABLE 72 LESS THAN 9 METERS ELECTRIC BUS MARKET, BY REGION, 2018–2021 (UNITS)
TABLE 73 LESS THAN 9 METERS ELECTRIC BUS MARKET, BY REGION, 2022–2030 (UNITS)
10.3 9-14M
10.3.1 HIGH ADOPTION RATE OF ELECTRIC BUSES FOR PUBLIC TRANSPORT FLEET TO DRIVE SEGMENT
TABLE 74 9-14 METERS ELECTRIC BUS MARKET, BY REGION, 2018–2021 (UNITS)
TABLE 75 9-14 METERS ELECTRIC BUS MARKET, BY REGION, 2022–2030 (UNITS)
10.4 ABOVE 14 M
10.4.1 GROWING DEMAND FOR INTERCITY PUBLIC TRANSPORT IN HIGHLY POPULATED COUNTRIES TO IMPACT ABOVE 14 M BUS SALES
TABLE 76 ABOVE 14 METERS ELECTRIC BUS MARKET, BY REGION, 2018–2021 (UNITS)
TABLE 77 ABOVE 14 METERS ELECTRIC BUS MARKET, BY REGION, 2022–2030 (UNITS)
10.5 KEY INDUSTRY INSIGHTS
11 ELECTRIC COMMERCIAL VEHICLE MARKET, BY PROPULSION (Page No. - 145)
11.1 INTRODUCTION
FIGURE 57 BEV SEGMENT TO DRIVE MARKET IN FORECAST PERIOD
TABLE 78 MARKET SIZE, BY PROPULSION, 2018–2021 (UNITS)
TABLE 79 MARKET SIZE, BY PROPULSION, 2022–2030 (UNITS)
11.1.1 OPERATIONAL DATA
TABLE 80 ELECTRIC COMMERCIAL VEHICLE MODELS, BY PROPULSION TYPE
11.1.2 ASSUMPTIONS
TABLE 81 ASSUMPTIONS: BY PROPULSION
11.1.3 RESEARCH METHODOLOGY
11.2 BATTERY ELECTRIC VEHICLE (BEV)
11.2.1 BEV SEGMENT TO INFLUENCE ECV MARKET DUE TO HIGH BEV BUS AND VAN SALES
TABLE 82 BEV COMMERCIAL VEHICLES MARKET, BY REGION, 2018–2021 (UNITS)
TABLE 83 BEV COMMERCIAL VEHICLES MARKET, BY REGION, 2022–2030 (UNITS)
11.3 FUEL CELL ELECTRIC VEHICLE (FCEV)
11.3.1 FCEV VANS TO START SELLING FROM AROUND 2023
TABLE 84 FCEV COMMERCIAL VEHICLES MARKET, BY REGION, 2018–2021 (UNITS)
TABLE 85 FCEV COMMERCIAL VEHICLES MARKET, BY REGION, 2022–2030 (UNITS)
11.4 PLUG-IN HYBRID ELECTRIC VEHICLE (PHEV)
11.4.1 ASIA PACIFIC PROJECTED TO BE LARGEST PHEV MARKET
TABLE 86 PHEV COMMERCIAL VEHICLES MARKET, BY REGION, 2018–2021 (UNITS)
TABLE 87 PHEV COMMERCIAL VEHICLES MARKET, BY REGION, 2022–2030 (UNITS)
11.5 KEY INDUSTRY INSIGHTS
12 ELECTRIC COMMERCIAL VEHICLE MARKET, BY POWER OUTPUT (Page No. - 154)
12.1 INTRODUCTION
FIGURE 58 LESS THAN 100 KW SEGMENT TO HAVE HIGHEST DEMAND IN MARKET IN FORECAST PERIOD
TABLE 88 MARKET SIZE, BY POWER OUTPUT, 2018–2021 (UNITS)
TABLE 89 MARKET SIZE, BY POWER OUTPUT, 2022–2030 (UNITS)
12.1.1 OPERATIONAL DATA
TABLE 90 ELECTRIC COMMERCIAL VEHICLE DATA BASED ON POWER OUTPUT
12.1.2 ASSUMPTIONS
12.1.3 RESEARCH METHODOLOGY
12.2 LESS THAN 100 KW
12.2.1 USE OF SMALL ELECTRIC VANS FOR SHIPPING BY LOGISTICS COMPANIES IN EUROPE
TABLE 91 LESS THAN 100 KW POWER OUTPUT MARKET, BY REGION, 2018–2021 (UNITS)
TABLE 92 LESS THAN 100 KW POWER OUTPUT MARKET, BY REGION, 2022–2030 (UNITS)
12.3 100-250 KW
12.3.1 DEVELOPMENT OF BEST-IN-CLASS PICKUP TRUCKS TO LEAD MARKET FOR 100-250 KW POWER OUTPUT
TABLE 93 100-250 KW POWER OUTPUT MARKET, BY REGION, 2018–2021 (UNITS)
TABLE 94 100-250 KW POWER OUTPUT MARKET, BY REGION, 2022–2030 (UNITS)
12.4 ABOVE 250 KW
12.4.1 UPCOMING MARKET FOR BEST-IN-CLASS ELECTRIC PICKUPS AND BUSES
TABLE 95 ABOVE 250 KW POWER OUTPUT MARKET, BY REGION, 2018–2021 (UNITS)
TABLE 96 ABOVE 250 KW POWER OUTPUT MARKET, BY REGION, 2022–2030 (UNITS)
12.5 KEY INDUSTRY INSIGHTS
13 ELECTRIC COMMERCIAL VEHICLE MARKET, BY RANGE (Page No. - 162)
13.1 INTRODUCTION
FIGURE 59 LESS THAN 150 MILES SEGMENT TO ACQUIRE HIGHEST DEMAND IN MARKET IN FORECAST PERIOD
TABLE 97 MARKET SIZE, BY RANGE, 2018–2021 (UNITS)
TABLE 98 MARKET SIZE, BY RANGE, 2022–2030 (UNITS)
13.1.1 OPERATIONAL DATA
TABLE 99 ELECTRIC COMMERCIAL VEHICLE DATA BASED ON RANGE
13.1.2 ASSUMPTIONS
13.1.3 RESEARCH METHODOLOGY
13.2 LESS THAN 150 MILES
13.2.1 AFFORDABLE ELECTRIC VANS TO DRIVE LESS THAN 150 MILES SEGMENT
TABLE 100 LESS THAN 150 MILES RANGE MARKET, BY REGION, 2018–2021 (UNITS)
TABLE 101 LESS THAN 150 MILES RANGE MARKET, BY REGION, 2022–2030 (UNITS)
13.3 150-300 MILES
13.3.1 HIGH ADOPTION RATE OF ELECTRIC BUSES TO BOOST 150-300 MILES ELECTRIC CV MARKET
TABLE 102 150-300 MILES RANGE MARKET, BY REGION, 2018–2021 (UNITS)
TABLE 103 150-300 MILES RANGE MARKET, BY REGION, 2022–2030 (UNITS)
13.4 ABOVE 300 MILES
13.4.1 ADVANCEMENTS IN BATTERY TECHNOLOGIES TO DRIVE ABOVE 300 MILES SEGMENT
TABLE 104 ABOVE 300 MILES RANGE MARKET, BY REGION, 2018–2021 (UNITS)
TABLE 105 ABOVE 300 MILES RANGE MARKET, BY REGION, 2022–2030 (UNITS)
13.5 KEY INDUSTRY INSIGHTS
14 ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE (Page No. - 170)
14.1 INTRODUCTION
FIGURE 60 ELECTRIC VAN SEGMENT TO BE LARGEST MARKET, BY VEHICLE TYPE, 2022–2030 (UNITS)
TABLE 106 MARKET SIZE, BY VEHICLE TYPE, 2018–2021 (UNITS)
TABLE 107 MARKET SIZE, BY VEHICLE TYPE, 2022–2030 (UNITS)
14.1.1 OPERATIONAL DATA
TABLE 108 ELECTRIC COMMERCIAL VEHICLE DATA BASED ON VEHICLE TYPE
14.1.2 ASSUMPTIONS
14.1.3 RESEARCH METHODOLOGY
14.2 ELECTRIC BUS
14.2.1 ELECTRIC BUS DEMAND TO GROW WITH DEMAND FOR EMISSION-FREE PUBLIC TRANSPORT
TABLE 109 ELECTRIC BUS MARKET, BY REGION, 2018–2021 (UNITS)
TABLE 110 ELECTRIC BUS MARKET, BY REGION, 2022–2030 (UNITS)
14.3 ELECTRIC PICKUP TRUCK
14.3.1 ELECTRIC PICKUP SALES TO GROW WITH BEST-IN-CLASS ELECTRIC PICKUPS FRO OEMS
TABLE 111 ELECTRIC PICKUP TRUCK MARKET, BY REGION, 2018–2021 (UNITS)
TABLE 112 ELECTRIC PICKUP TRUCK MARKET, BY REGION, 2022–2030 (UNITS)
14.4 ELECTRIC TRUCK
14.4.1 ADVANCEMENTS IN BATTERY TECHNOLOGY TO BOOST ELECTRIC TRUCK MARKET
TABLE 113 ELECTRIC TRUCK MARKET, BY REGION, 2018–2021 (UNITS)
TABLE 114 ELECTRIC TRUCK MARKET, BY REGION, 2022–2030 (UNITS)
14.4.2 MEDIUM-DUTY AND HEAVY-DUTY TRUCKS
14.5 ELECTRIC VAN
14.5.1 INCREASING DEMAND FROM LOGISTICS PROVIDERS TO DRIVE ELECTRIC VAN MARKET
TABLE 115 ELECTRIC VAN MARKET, BY REGION, 2018–2021 (UNITS)
TABLE 116 ELECTRIC VAN MARKET, BY REGION, 2022–2030 (UNITS)
14.6 KEY INDUSTRY INSIGHTS
15 ELECTRIC COMMERCIAL VEHICLE MARKET, BY END USER (Page No. - 180)
15.1 INTRODUCTION
FIGURE 61 HIGHER ADOPTION OF ELECTRIC COMMERCIAL VEHICLES FOR LAST MILE DELIVERY SERVICES TO LEAD MARKET
TABLE 117 MARKET, BY END-USER, 2018–2021 (UNITS)
TABLE 118 MARKET, BY END-USER, 2022–2030 (UNITS)
15.1.1 OPERATIONAL DATA
TABLE 119 END USER BY VEHICLE TYPE
15.1.2 ASSUMPTIONS
15.1.3 RESEARCH METHODOLOGY
15.2 LAST MILE DELIVERY
15.3 FIELD SERVICES
15.4 DISTRIBUTION SERVICE
15.5 LONG HAUL TRANSPORTATION
15.6 REFUSE SERVICE
15.7 KEY INDUSTRY INSIGHTS
16 ELECTRIC TRUCK MARKET, BY TRUCK PAYLOAD CAPACITY (Page No. - 186)
16.1 INTRODUCTION
FIGURE 62 HIGHER ADOPTION OF PICKUP TRUCKS TO COMMAND HIGHER DEMAND IN UP TO 10,000 LBS SEGMENT
TABLE 120 ELECTRIC TRUCK MARKET, BY TRUCK PAYLOAD CAPACITY, 2018–2021 (UNITS)
TABLE 121 ELECTRIC TRUCK MARKET, BY TRUCK PAYLOAD CAPACITY, 2022–2030 (UNITS)
16.1.1 OPERATIONAL DATA
TABLE 122 ELECTRIC TRUCK DATA BASED ON PAYLOAD CAPACITY
16.1.2 ASSUMPTIONS
16.1.3 RESEARCH METHODOLOGY
16.2 UPTO 10,000 LBS
16.3 10,001- 26,000 LBS
16.4 26,001 LBS AND ABOVE
16.5 KEY INDUSTRY INSIGHTS
17 ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION (Page No. - 191)
17.1 INTRODUCTION
FIGURE 63 MARKET, BY REGION, 2022–2030 (UNITS)
TABLE 123 MARKET, BY REGION, 2018–2021 (UNITS)
TABLE 124 MARKET, BY REGION, 2022–2030 (UNITS)
17.2 ASIA PACIFIC
FIGURE 64 ASIA PACIFIC: MARKET SNAPSHOT
TABLE 125 ASIA PACIFIC: MARKET, BY COUNTRY, 2018–2021 (UNITS)
TABLE 126 ASIA PACIFIC: MARKET, BY COUNTRY, 2022–2030 (UNITS)
17.2.1 CHINA
17.2.1.1 Electric buses to dominate Chinese market
TABLE 127 CHINA: MARKET, BY VEHICLE TYPE, 2018–2021 (UNITS)
TABLE 128 CHINA: MARKET, BY VEHICLE TYPE, 2022–2030 (UNITS)
17.2.2 JAPAN
17.2.2.1 Renowned OEMs to manufacture advanced electric vans in Japan to speed up ECV adoption
TABLE 129 JAPAN: MARKET, BY VEHICLE TYPE, 2018–2021 (UNITS)
TABLE 130 JAPAN: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2022–2030 (UNITS)
17.2.3 INDIA
17.2.3.1 Indian market to witness rapid growth
FIGURE 65 REGULATIONS AND POSSIBLE IMPACT FOR ECVS IN INDIA
FIGURE 66 INCENTIVE AND REGULATORY LANDSCAPE FOR EVS IN INDIA
TABLE 131 INDIA MARKET, BY VEHICLE TYPE, 2018–2021 (UNITS)
TABLE 132 INDIA MARKET, BY VEHICLE TYPE, 2022–2030 (UNITS)
17.2.4 SOUTH KOREA
17.2.4.1 Explosive growth in demand for electric pickups to lead ECV market in South Korea
FIGURE 67 NEW EV INCENTIVE BUDGET IN SOUTH KOREA
TABLE 133 SOUTH KOREA: MARKET, BY VEHICLE TYPE, 2018–2021 (UNITS)
TABLE 134 SOUTH KOREA MARKET, BY VEHICLE TYPE, 2022–2030 (UNITS)
17.3 EUROPE
FIGURE 68 EUROPE: ELECTRIC COMMERCIAL VEHICLE MARKET, BY COUNTRY, 2022–2030 (UNITS)
TABLE 135 EUROPE: ELECTRIC COMMERCIAL VEHICLE MARKET, BY COUNTRY, 2018–2021 (UNITS)
TABLE 136 EUROPE: ELECTRIC COMMERCIAL VEHICLE MARKET, BY COUNTRY, 2022–2030 (UNITS)
17.3.1 FRANCE
17.3.1.1 Electric van segment to dominate French ECV Market
TABLE 137 FRANCE: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2018–2021 (UNITS)
TABLE 138 FRANCE: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2022–2030 (UNITS)
17.3.2 GERMANY
17.3.2.1 Setup of charging corridors to boost ECV demand in Germany
FIGURE 69 E-HIGHWAY PROJECT IN GERMANY DEVELOPED BY SIEMENS
TABLE 139 GERMANY: MARKET, BY VEHICLE TYPE, 2018–2021 (UNITS)
TABLE 140 GERMANY: MARKET, BY VEHICLE TYPE, 2022–2030 (UNITS)
17.3.3 SPAIN
17.3.3.1 Government focus on replacing existing bus and van fleets expected to positively impact ECV market in Spain
TABLE 141 SPAIN: MARKET, BY VEHICLE TYPE, 2018–2021 (UNITS)
TABLE 142 SPAIN: MARKET, BY VEHICLE TYPE, 2022–2030 (UNITS)
17.3.4 AUSTRIA
17.3.4.1 Government incentives to push ECV market in Austria
TABLE 143 AUSTRIA: MARKET, BY VEHICLE TYPE, 2018–2021 (UNITS)
TABLE 144 AUSTRIA: MARKET, BY VEHICLE TYPE, 2022–2030 (UNITS)
17.3.5 NORWAY
17.3.5.1 Logistics and fleet providers to raise demand in ECV market in Norway
TABLE 145 NORWAY: MARKET, BY VEHICLE TYPE, 2018–2021 (UNITS)
TABLE 146 NORWAY: MARKET, BY VEHICLE TYPE, 2022–2030 (UNITS)
17.3.6 SWEDEN
17.3.6.1 Presence of market-leading OEMs and startups to propel market in Sweden
TABLE 147 SWEDEN: MARKET, BY VEHICLE TYPE, 2018–2021 (UNITS)
TABLE 148 SWEDEN MARKET, BY VEHICLE TYPE, 2022–2030 (UNITS)
17.3.7 SWITZERLAND
17.3.7.1 Swiss ECV market to grow at fast rate with minimal tax policy for EV imports
TABLE 149 SWITZERLAND: MARKET, BY VEHICLE TYPE, 2018–2021 (UNITS)
TABLE 150 SWITZERLAND: MARKET, BY VEHICLE TYPE, 2022–2030 (UNITS)
17.3.8 NETHERLANDS
17.3.8.1 ECV manufacturing OEMs and attractive government to positively influence ECV market in Netherlands
TABLE 151 NETHERLANDS: MARKET, BY VEHICLE TYPE, 2018–2021 (UNITS)
TABLE 152 NETHERLANDS: MARKET, BY VEHICLE TYPE, 2022–2030 (UNITS)
17.3.9 BELGIUM
17.3.9.1 Higher electric bus and van adoption to speed up market growth in Belgium
TABLE 153 BELGIUM: MARKET, BY VEHICLE TYPE, 2018–2021 (UNITS)
TABLE 154 BELGIUM: MARKET, BY VEHICLE TYPE, 2022–2030 (UNITS)
17.3.10 UK
17.3.10.1 Government electrification roadmap to pace shift to electric for commercial vehicles
FIGURE 70 UK EV ROADMAP
TABLE 155 UK: MARKET, BY VEHICLE TYPE, 2018–2021 (UNITS)
TABLE 156 UK: MARKET, BY VEHICLE TYPE, 2022–2030 (UNITS)
17.3.11 ITALY
17.3.11.1 Government incentives to generate higher demand for market in Italy
TABLE 157 ITALY MARKET, BY VEHICLE TYPE, 2018–2021 (UNITS)
TABLE 158 ITALY MARKET, BY VEHICLE TYPE, 2022–2030 (UNITS)
17.3.12 DENMARK
17.3.12.1 Favorable government regulations to expand market in Denmark
TABLE 159 DENMARK MARKET, BY VEHICLE TYPE, 2018–2021 (UNITS)
TABLE 160 DENMARK MARKET, BY VEHICLE TYPE, 2022–2030 (UNITS)
17.3.13 PORTUGAL
17.3.13.1 Electric vans sales to lead market in Portugal
TABLE 161 PORTUGAL MARKET, BY VEHICLE TYPE, 2018–2021 (UNITS)
TABLE 162 PORTUGAL MARKET, BY VEHICLE TYPE, 2022–2030 (UNITS)
17.3.14 IRELAND
17.3.14.1 Favorable policies to support growth of market
TABLE 163 IRELAND MARKET, BY VEHICLE TYPE, 2018–2021 (UNITS)
TABLE 164 IRELAND MARKET, BY VEHICLE TYPE, 2022–2030 (UNITS)
17.4 NORTH AMERICA
FIGURE 71 NORTH AMERICA EV BATTERY INITIATIVES
FIGURE 72 NORTH AMERICA: MARKET SNAPSHOT
TABLE 165 NORTH AMERICA: MARKET, BY COUNTRY, 2018–2021 (UNITS)
TABLE 166 NORTH AMERICA: MARKET, BY COUNTRY, 2022–2030 (UNITS)
17.4.1 US
17.4.1.1 Electric pick-up truck segment to accelerate market in US
TABLE 167 US MARKET, BY VEHICLE TYPE, 2018–2021 (UNITS)
TABLE 168 US MARKET, BY VEHICLE TYPE, 2022–2030 (UNITS)
17.4.2 CANADA
17.4.2.1 Electric pickup truck segment to dominate market in Canada
TABLE 169 CANADA MARKET, BY VEHICLE TYPE, 2018–2021 (UNITS)
TABLE 170 CANADA MARKET, BY VEHICLE TYPE, 2022–2030 (UNITS)
18 COMPETITIVE LANDSCAPE (Page No. - 232)
18.1 OVERVIEW
18.2 MARKET SHARE ANALYSIS FOR ELECTRIC COMMERCIAL VEHICLE MARKET
TABLE 171 MARKET SHARE ANALYSIS, 2021
FIGURE 73 MARKET SHARE ANALYSIS, 2021
18.3 REVENUE ANALYSIS OF TOP 5 COMPANIES
FIGURE 74 REVENUE ANALYSIS, 2017–2021
18.4 COMPETITIVE SCENARIO
18.4.1 DEALS, 2019-2022
TABLE 172 DEALS, 2019–2022
18.4.2 NEW PRODUCT LAUNCHES, 2019-2022
TABLE 173 NEW PRODUCT LAUNCHES, 2019–2022
18.4.3 OTHERS, 2019–2022
TABLE 174 EXPANSIONS, 2019–2022
18.5 COMPANY EVALUATION QUADRANT FOR MARKET
18.5.1 STARS
18.5.2 EMERGING LEADERS
18.5.3 PERVASIVE
18.5.4 EMERGING COMPANIES
FIGURE 75 MARKET: COMPANY EVALUATION QUADRANT, 2021
TABLE 175 MARKET: COMPANY FOOTPRINT, 2022
TABLE 176 MARKET: PRODUCT FOOTPRINT, 2021
TABLE 177 MARKET: REGIONAL FOOTPRINT, 2022
18.6 COMPETITIVE EVALUATION QUADRANT FOR SMES
18.6.1 PROGRESSIVE COMPANIES
18.6.2 RESPONSIVE COMPANIES
18.6.3 DYNAMIC COMPANIES
18.6.4 STARTING BLOCKS
FIGURE 76 MARKET: COMPETITIVE LEADERSHIP MAPPING SME, 2021
TABLE 178 MARKET: DETAILED LIST OF KEY STARTUPS/SMES
TABLE 179 MARKET: COMPETITIVE BENCHMARKING OF KEY PLAYERS [STARTUPS/SMES]
18.7 RIGHT TO WIN, 2019-2022
TABLE 180 RIGHT TO WIN, 2019-2022
19 COMPANY PROFILES (Page No. - 247)
(Business overview, Products offered, Recent developments & MnM View)*
19.1 KEY PLAYERS
19.1.1 BYD
TABLE 181 BYD: BUSINESS OVERVIEW
FIGURE 77 BYD: COMPANY SNAPSHOT
FIGURE 78 BYD COMMERCIAL ELECTRIC VEHICLE STRATEGY
TABLE 182 BYD: PRODUCTS OFFERED
TABLE 183 BYD: NEW PRODUCT DEVELOPMENTS
TABLE 184 BYD: DEALS
TABLE 185 BYD: OTHERS
19.1.2 YUTONG
TABLE 186 YUTONG: BUSINESS OVERVIEW
FIGURE 79 YUTONG: COMPANY SNAPSHOT
TABLE 187 YUTONG BUS PRODUCTION OUTPUT AND REGIONAL DISTRIBUTION DATA, 2020
TABLE 188 YUTONG: PRODUCTS OFFERED
TABLE 189 YUTONG: NEW PRODUCT DEVELOPMENTS
TABLE 190 YUTONG: DEALS
TABLE 191 YUTONG: OTHERS
19.1.3 VDL GROEP
TABLE 192 VDL GROEP: BUSINESS OVERVIEW
FIGURE 80 VDL GROEP: COMPANY SNAPSHOT
FIGURE 81 VDL GROEP: EMPLOYEES BY GEOGRAPHICAL AREA
TABLE 193 VDL GROEP: PRODUCTS OFFERED
TABLE 194 VDL GROEP: NEW PRODUCT DEVELOPMENTS
TABLE 195 VDL GROEP: DEALS
19.1.4 AB VOLVO
TABLE 196 AB VOLVO: BUSINESS OVERVIEW
FIGURE 82 AB VOLVO: COMPANY SNAPSHOT
TABLE 197 REGION-WISE NUMBER OF BUSES DELIVERED ACROSS THE WORLD
FIGURE 83 AB VOLVO: TRANSFORMATION TOWARDS CARBON NEUTRALITY
TABLE 198 AB VOLVO: PRODUCTS OFFERED
TABLE 199 AB VOLVO: NEW PRODUCT DEVELOPMENTS
TABLE 200 AB VOLVO: DEALS
19.1.5 CAF
TABLE 201 CAF: BUSINESS OVERVIEW
FIGURE 84 CAF: COMPANY SNAPSHOT
TABLE 202 CAF: PRODUCTS OFFERED
TABLE 203 CAF: NEW PRODUCT DEVELOPMENTS
TABLE 204 CAF: DEALS
19.1.6 PROTERRA
TABLE 205 PROTERRA: BUSINESS OVERVIEW
FIGURE 85 PROTERRA: COMPANY SNAPSHOT
TABLE 206 PROTERRA: PRODUCTS OFFERED
TABLE 207 PROTERRA: NEW PRODUCT DEVELOPMENTS
TABLE 208 PROTERRA: DEALS
TABLE 209 PROTERRA: OTHERS
19.1.7 MERCEDES-BENZ GROUP
TABLE 210 MERCEDES-BENZ GROUP: BUSINESS OVERVIEW
FIGURE 86 MERCEDES-BENZ GROUP: COMPANY SNAPSHOT
FIGURE 87 THE NEW MERCEDES-BENZ GROUP
TABLE 211 MERCEDES-BENZ GROUP: PRODUCTS OFFERED
TABLE 212 MERCEDES-BENZ GROUP: NEW PRODUCT DEVELOPMENTS
TABLE 213 MERCEDES-BENZ GROUP: DEALS
TABLE 214 MERCEDES-BENZ GROUP: OTHERS
19.1.8 NFI GROUP
TABLE 215 NFI GROUP: BUSINESS OVERVIEW
FIGURE 88 NFI GROUP: COMPANY SNAPSHOT
TABLE 216 NFI GROUP: PRODUCTS OFFERED
TABLE 217 NFI GROUP: NEW PRODUCT DEVELOPMENTS
TABLE 218 NFI GROUP: DEALS
19.1.9 EBUSCO
TABLE 219 EBUSCO: BUSINESS OVERVIEW
TABLE 220 EBUSCO: PRODUCTS OFFERED
TABLE 221 EBUSCO: NEW PRODUCT DEVELOPMENTS
TABLE 222 EBUSCO: DEALS
TABLE 223 EBUSCO: OTHERS
19.1.10 KING LONG
TABLE 224 KING LONG: BUSINESS OVERVIEW
TABLE 225 KING LONG: PRODUCTS OFFERED
TABLE 226 KING LONG: NEW PRODUCT DEVELOPMENTS
TABLE 227 KING LONG: DEALS
19.1.11 ANKAI
TABLE 228 ANKAI: BUSINESS OVERVIEW
TABLE 229 ANKAI: PRODUCTS OFFERED
TABLE 230 ANKAI: NEW PRODUCT DEVELOPMENTS
TABLE 231 ANKAI: DEALS
19.1.12 ZHONGTONG BUS HOLDING
TABLE 232 ZHONGTONG BUS HOLDING: BUSINESS OVERVIEW
TABLE 233 ZHONGTONG BUS HOLDING: PRODUCTS OFFERED
TABLE 234 ZHONGTONG BUS HOLDING: DEALS
*Details on Business overview, Products offered, Recent developments & MnM View might not be captured in case of unlisted companies.
19.2 OTHER KEY PLAYERS
19.2.1 BLUE BIRD CORPORATION
19.2.2 RIVIAN
19.2.3 THE LION ELECTRIC COMPANY
19.2.4 TATA MOTORS
19.2.5 ASHOK LEYLAND
19.2.6 CHANGSHA SUNDA NEW ENERGY TECHNOLOGY CO. LTD.
19.2.7 OLECTRA GREENTECH
19.2.8 YINLONG ENERGY
19.2.9 GOLDEN DRAGON
19.2.10 JBM AUTO LIMITED
19.2.11 SCANIA
19.2.12 IRIZAR
19.2.13 IVECO
19.2.14 SKODA
19.2.15 CHARIOT MOTORS
19.2.16 OTOKAR OTOMOTIV VE SAVUNMA SANAYI A.Þ
19.2.17 TEMSA
19.2.18 KARSAN
19.2.19 ZENITH MOTORS
19.2.20 WORKHORSE GROUP
20 RECOMMENDATIONS BY MARKETSANDMARKETS (Page No. - 315)
20.1 ASIA PACIFIC TO BE KEY FOCUS AREA FOR ELECTRIC COMMERCIAL VEHICLE MARKET
20.2 TECHNOLOGICAL ADVANCEMENTS TO HELP DEVELOP MARKET FOR ELECTRIC COMMERCIAL VEHICLES
20.3 ELECTRIC VANS TO REMAIN DOMINANT SEGMENT
20.4 ELECTRIC PICKUPS TO HAVE FAST-GROWING DEMAND
20.5 CONCLUSION
21 APPENDIX (Page No. - 317)
21.1 KEY INSIGHTS OF INDUSTRY EXPERTS
21.2 DISCUSSION GUIDE
21.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
21.4 AVAILABLE CUSTOMIZATIONS
21.5 RELATED REPORTS
21.6 AUTHOR DETAILS
The study involved four major activities in estimating the current size of the electric commercial vehicle market. Exhaustive secondary research was done to collect information on the market, the peer market, and the child markets. The next step was to validate these findings, assumptions, and sizing with the industry experts across value chains through primary research. The top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation processes were used to estimate the market size of segments and subsegments.
Secondary Research
In the secondary research process, various secondary sources such as company annual reports/presentations, press releases, industry association publications [for example, publications of electric commercial vehicle manufacturers, International Energy Agency (IEA), Alternative Fuel Data Center (AFDC), European Alternate Fuels Observatory (EAFO), Federal Transit Administration (FTA), Regional Transportation Authority (RTA), country-level vehicle associations and trade organizations, and the US Department of Transportation (DOT)], EV related magazine articles, directories, technical handbooks, World Economic Outlook, trade websites, government organizations websites, and technical articles have been used to identify and collect information useful for an extensive commercial study of the global electric commercial vehicle market.
Primary Research
Extensive primary research has been conducted after acquiring an understanding of this market scenario through secondary research. Several primary interviews have been conducted with market experts from the demand- and supply-side OEMs (in terms of component supply, country-level government associations, and trade associations) and component manufacturers across four major regions, namely, Asia Pacific, Europe and North America. Approximately 23% and 77% of primary interviews have been conducted from the demand and supply side, respectively. Primary data has been collected through questionnaires, emails, LinkedIn, and telephonic interviews. In the canvassing of primaries, we have strived to cover various departments within organizations, such as sales, operations, and administration, to provide a holistic viewpoint in our report.
After interacting with industry experts, we conducted brief sessions with highly experienced independent consultants to reinforce the findings from our primaries. This, along with the in-house subject matter experts’ opinions, has led us to the findings as described in the remainder of this report. Following is the breakdown of primary respondents.
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
The bottom-up approach was used to estimate and validate the total market size. This method was also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
- The key players in the industry and markets have been identified through extensive secondary research
- The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes
- All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources
Data Triangulation
After arriving at the overall market size—using the market size estimation processes as explained above—the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides.
Report Objectives
- To segment and forecast the electric commercial vehicle market size in terms of volume (Units)
- To define, describe, and forecast the market based on vehicle type, propulsion, battery type, range, length of bus, power output, component, battery capacity, end user, autonomous vehicle, truck payload capacity and region
- To segment the market and forecast its size, by volume, based on region (Asia Pacific, Europe, North America)
- To segment and forecast the market based on battery type ((lithium-iron-phosphate (LFP), nickel-manganese-cobalt (NMC), solid-state batteries and others)
- To segment and forecast the market based on propulsion (Plug-in Hybrid Electric Vehicle (PHEV), Fuel Cell Electric Vehicle (FCEV), and Battery Electric Vehicle (BEV))
- To segment and forecast the market based on vehicle type (bus, truck, pick-up truck (medium and heavy-duty trucks), and van)
- To segment and forecast the market based on length of bus (less than 9m, 9−14m, and more than 14m)
- To segment and forecast the market based on power output (less than 100 KW, 100−250 KW, and above 250 KW)
- To segment and forecast the market based on battery capacity (less than 50 kWh, 50−250 kWh, and above 250 kWh)
- To segment and forecast the market based on end user (last mile delivery, field services, distribution services, long haul transportation and refuse services)
- To segment and provide qualitative insights of the market based on autonomous vehicle (electric autonomous truck and electric autonomous bus)
- To segment and provide qualitative insights of the market based on truck payload capacity (less than 10,000 LBS, 10,001-26,000 LBS and greater than 26,001 LBS)
- To segment and provide qualitative insights of the market based on component
- To analyze the technological developments impacting the market
- To analyze opportunities for stakeholders and the competitive landscape for market leaders
- To provide detailed information regarding the major factors influencing market growth (drivers, challenges, restraints, and opportunities)
- To strategically analyze markets with respect to individual growth trends, future prospects, and contribution to the total market
- To strategically profile key players and comprehensively analyze their market shares and core competencies
- To track and analyze competitive developments such as joint ventures, mergers & acquisitions, new product launches, expansions, and other activities carried out by key industry participants
Available Customizations
With the given market data, MarketsandMarkets offers customizations in accordance with a company’s specific needs.
- Electric Commercial Vehicle Market, By Range, at the Country Level (For countries covered in the report)
- Market, By Battery Type, at the Country Level (For countries covered in the report)
- Market, By Battery Capacity, at the Country Level (For countries covered in the report)
- Market, By Power Output, at the Country Level (For countries covered in the report)
Company Information
- Profiling of Additional Market Players (Up to 5)
Generating Response ...
Growth opportunities and latent adjacency in Electric Commercial Vehicle Market