Electric Commercial Vehicle Market

Report Code AT 6196
Published in Feb, 2024, By MarketsandMarkets™
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Electric Commercial Vehicle Market by Vehicle Type (Pickups, Medium and Heavy-Duty Trucks, Vans, Buses), Propulsion, Range, Battery Type, Power Output, Battery Capacity, Component, End User, Body Construction and Region - Global Forecast to 2030

Overview

The global electric commercial vehicle market is projected to grow from USD 70.9 billion in 2024 to USD 255.6 billion by 2030, registering a CAGR of 23.8%. The stringent regulations to reduce emissions and promote sustainable transportation practices have incentivized businesses to transition to electric vehicles, aligning with global efforts to combat climate change. Additionally, advancements in battery technology have led to increased energy density, longer driving ranges, and faster charging times, addressing some of the primary concerns associated with the feasibility of electric vehicles in commercial applications. Moreover, the decreasing costs of electric vehicle components, including batteries and electric drivetrains, coupled with government subsidies and incentives, have made electric commercial vehicles more financially viable for businesses, resulting in a lower total cost of ownership over the vehicle's lifecycle compared to traditional internal combustion engine vehicles. Furthermore, growing consumer awareness and demand for environmentally friendly products and services have prompted businesses to embrace electric vehicles as part of their corporate sustainability initiatives, further propelling market growth. Electric heavy-duty truck eActros 600 by Mercedes-Benz Group AG (Germany) was launched in October 2023. Whereas Renault (France) launched Renault Trucks D, D Wide electric truck in October 2023. In May 2023, Mercedes-Benz Group AG (Germany) launched EQT Van (Electric Van) equipped with a 90-kW electric motor, two sliding doors, the MBUX infotainment system, and numerous safety and assistance systems. Electric Vans is emerged as the largest market in electric commercial vehicle. And last mile delivery has the largest market share in end use application of EVCs. Along with this the emergence of innovative business models such as electric vehicle leasing and fleet management solutions for electric vehicles have facilitated easier adoption and integration of electric commercial vehicles into existing transportation infrastructures, fostering market expansion and driving towards a more sustainable future.

Attractive Opportunities in the Electric Commercial Vehicle Market

Asia Pacific

The growth of Asia Pacific Electric commercial vehicle market is attributed to implemented supportive policies and incentives to promote the adoption of electric vehicles, including commercial vehicles. Also, the continuous development of domestic e-commerce and logistics sectors, the market for e-trucks, e-pickups, and e-vans will grow.

The Electric commercial vehicle market's growth is driven by advancements in battery technology , increasing Charging Infrastructure, Governments incentives and subsidies for purchasing ECVs

The Asia Pacific market is projected to reach USD 130.9 Billion by 2030, at a CAGR of 15.5% during the forecast period.

Electric Vans are emerging as leader in electric commercial vehicles market as they are widely used for local delivery services, such as courier, e-commerce, and last-mile logistics. Their compact size allows for easier navigation in urban areas and parking in tight spaces, making them ideal for urban delivery operations.

Europe is expected to have significant growth for above 250 kW segment of the electric commercial vehicle market during the forecast period. The market growth in Europe can be attributed to the presence of players in the electric commercial vehicle market, such as Mercedes-Benz Group AG (Germany), VDL Groep (Netherlands), and AB Volvo (Sweden)

Global Electric Commercial Vehicle Market Dynamics

Driver: Rising Fossil Fuel Prices

As the cost of traditional fuels such as gasoline and diesel continues to escalate, businesses are faced with mounting operational expenses, particularly those reliant on large fleets of vehicles for transportation and logistics. This upward trend in fuel prices underscores the financial benefits of transitioning to electric vehicles, which offer substantially lower operating costs over their lifespan. ECVs rely on electricity as their primary source of power, which tends to be more stable in terms of pricing compared to fossil fuels. Therefore, businesses seeking to mitigate the impact of volatile fuel prices on their bottom line are increasingly turning to ECVs as a cost-effective alternative.Moreover, the uncertainty surrounding future fossil fuel prices, exacerbated by geopolitical tensions and supply chain disruptions, further incentivizes businesses to invest in ECVs as a long-term strategy for cost savings and financial stability. Unlike traditional vehicles whose fuel costs are subject to market fluctuations and geopolitical risks, ECVs offer a more predictable and sustainable solution for managing transportation expenses. By reducing dependence on fossil fuels, businesses can insulate themselves from the adverse effects of fuel price volatility and achieve greater control over their operating expenses, thus driving the accelerated adoption of ECVs in commercial fleets.

Restraint: High Development Cost

Developing electric vehicle technology requires substantial research, development, and manufacturing infrastructure investment. This includes investments in battery technology, electric drivetrains, charging infrastructure, and other components unique to electric vehicles. These upfront costs pose a barrier to entry for many manufacturers, particularly smaller companies without the financial resources to fund extensive research and development efforts. As a result, the initial cost of ECVs tends to be higher compared to their conventional counterparts, making them less accessible to businesses operating on tighter budgets.Additionally, the high development costs of ECVs can deter investment in scaling up production capacity, further limiting the availability of electric vehicles in the market. Manufacturers must recoup their development expenses through sales, which can prolong the time it takes for ECVs to reach price parity with traditional vehicles. This cost disparity may dissuade businesses from transitioning to electric fleets, especially if the return on investment is too long-term or uncertain. Consequently, despite the long-term cost savings associated with operating ECVs, the high initial investment required for development and production remains a significant restraining factor in the broader adoption of electric commercial vehicles.

 

Opportunity: Development of wireless EV charging technology for on-the-go charging

Wireless charging eliminates the need for physical connections between the vehicle and the charging infrastructure, offering greater convenience and flexibility for fleet operators. This technology enables ECVs to charge automatically while parked or idling, minimizing downtime and maximizing operational efficiency. For businesses with large fleets, such as delivery services or public transportation agencies, wireless charging offers a seamless and hassle-free solution for keeping vehicles powered throughout the day, thereby enhancing productivity and reducing operational costs.Moreover, wireless charging technology addresses some of the key challenges associated with the adoption of ECVs, such as range anxiety and limited charging infrastructure. By enabling continuous charging without the need for frequent stops at charging stations, wireless charging systems can extend the driving range of ECVs and alleviate concerns about battery range limitations. This increased range and flexibility make ECVs more practical and appealing for a wider range of applications, including long-haul transportation and urban delivery services. As wireless charging technology continues to advance and become more widespread, it has the potential to accelerate the adoption of ECVs and drive their growth in the commercial vehicle market.

Challenge: Low availability of lithium for EV batteries

The limited availability of lithium-ion batteries poses a significant challenge to the growth of Electric Commercial Vehicles (ECVs). As the demand for electric vehicles continues to rise globally, there is increasing pressure on the supply chain for key components, particularly lithium-ion batteries. These batteries are essential for powering ECVs and are also used in various other applications, such as consumer electronics and renewable energy storage. However, the production capacity for lithium-ion batteries has not kept pace with the rapid growth in demand, leading to supply shortages and price volatility. This scarcity of batteries has resulted in longer lead times for manufacturers and increased costs for vehicle producers, hindering their ability to scale up production and meet market demand for ECVs.Furthermore, the low availability of lithium-ion batteries has implications for the affordability and accessibility of ECVs, particularly for small and medium-sized businesses. The limited supply drives up the cost of batteries, which in turn increases the overall cost of electric vehicles. As a result, businesses may face higher upfront expenses when purchasing ECVs or encounter delays in acquiring vehicles due to production constraints. Additionally, the reliance on a single type of battery technology raises concerns about supply chain resilience and dependency on specific raw materials, such as lithium and cobalt, which are subject to geopolitical and environmental risks. Addressing the challenge of battery availability will be crucial for unlocking the full potential of ECVs and accelerating their adoption in the commercial vehicle market.

Global Electric Commercial Vehicle Market Ecosystem Analysis

ECOSYSTEM MAPPING The ecosystem mapping highlights various players in the electric commercial vehicle market ecosystem, which is primarily represented by OEMs, Tier I integrators/suppliers, Tier II suppliers, and EV charging infrastructure providers. Some of the major electric commercial vehicle OEMs are BYD (China), Mercedes-Benz (Germany), AB Volvo (Sweden), and Ford Motor Company (US). ChargePoint (US), ABB (Switzerland), Teison (China), CATL (China), Samsung SDI (South Korea), Panasonic Energy (Japan), and LG Chem (South Korea) are EV charging infrastructure providers and battery manufacturers.

 

NMC batteries hold the largest market share during the forecasted period.

NMC (nickel-manganese-cobalt) batteries contain several materials with distinct properties, high density, and efficiency. These batteries are ideal for use in electric commercial vehicles as they have a low self-heating rate during operation. They are known for their high energy density, allowing them to store a considerable amount of energy in a relatively compact and lightweight package. This characteristic is crucial for electric commercial vehicles as it directly influences the vehicle’s range on a single charge. Many leading battery manufacturers, such as CATL (China), LG Energy Solutions (South Korea), Panasonic Corporation (Japan), and BYD (China), produce NMC batteries. NMC (Nickel Manganese Cobalt) batteries are widely adopted in the electric vehicle market, including electric commercial vehicles. These batteries have achieved a balance between cost and performance, making them a cost-effective choice for electric commercial vehicles. This cost-effectiveness is crucial for the commercial sector, where the total cost of ownership is a significant consideration. Many leading OEMs also incorporate NMC batteries in their electric trucks, including Mercedes-Benz e-Actros, Volvo FL Electric, BYD T series, and Rivian R1T. These batteries have a higher energy density than LFP batteries, and the declining cost of NMC batteries further drives the segment.

The 60–120 kWh segment is estimated to be the largest battery capacity segment of the electric commercial vehicles market over the forecast period.

The 60–120 battery capacity range strikes a balance between power and range, making it suitable for a broader range of commercial applications, including medium to long-haul transportation. With larger batteries, vehicles in this segment can cover longer distances on a single charge, addressing the needs of industries such as regional freight transport and inter-city logistics. The 2023 E-Transit Cargo Van from Ford is equipped with a 68 kWh lithium-ion battery pack with a more than 200 km range. Government incentives and regulations encouraging the electrification of transportation, coupled with a growing awareness of the environmental benefits, are boosting the demand for electric commercial vehicles with 60–120 kWh battery capacities. In January 2024, the government of Canada announced its plan to offer a maximum incentive of USD 5,000 per vehicle for businesses purchasing new light-duty zero-emission vehicles. As businesses seek sustainable alternatives and aim to meet emissions targets, the 60–120 kWh battery segment presents a compelling option for those requiring a balance between extended range and operational flexibility.

Asia Pacific region holds the largest share of the Electric Commercial Vehicle Market.

The Asia Pacific region is projected to be the largest ECV market 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 vehicle in the future. Asia Pacific is home to many OEMs, especially Chinese companies, dominating the global electric commercial vehicle market. Japanese companies also play a vital role in automotive technological developments in Asia Pacific. For instance, in May 2023, Toyota Motor Corporation (Japan) collaborated with PACCAR Inc. (US) to expand their joint efforts to develop and produce hydrogen fuel cell (FCEV) Kenworth and Peterbilt trucks, which are powered by Toyota hydrogen fuel cell modules. All such developments in the region will drive the market for electric commercial vehicles during the forecast period.

 
 

Recent Developments of Electric Commercial Vehicle Market industry

  • In January 2024, Dongfeng Motor Corporation (Dongfeng) and Huawei Technologies Co., Ltd. (Huawei) entered into a partnership to collaborate on Dongfeng’s Voyah brand of “new energy” vehicles. Through this partnership, Dongfeng will include various Huawei technologies in its vehicles, such as autonomous driving and infotainment software.
  • In January 2024, Tesla, Inc. announced its plan to set up a factory in India and may invest USD 30 billion over the next 5 years.

Key Market Players

KEY PLAYERS IN THE Electric Commercial Vehicle Market INCLUDE

  • BYD (China)
  • Mercedes-Benz Group AG (Germany)
  • Yutong (China)
  • AB Volvo (Sweden)
  • Ford Motor Company (US)

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Scope of the Report

Report Attribute Details
Market size available for years 2019–2030
Base year considered 2023
Forecast period 2024-2030
Forecast units Volume (Million Units) and Value (USD Million)
Segments Covered Vehicle type, Propulsion Type, Range, Battery Type, Power Output, Battery Capacity, Component, End User, Body Construction and Region
Geographies covered Asia Pacific, Europe, and North America
Companies Covered BYD (China), Mercedes-Benz Group AG (Germany), Yutong (China), AB Volvo (Sweden) and Ford Motor Company (US)

 

Key Questions Addressed by the Report

What is the current size of the electric commercial vehicle market by value?
The size of the electric commercial vehicle market is estimated to be USD 70.9 billion in 2024.
Who are the winners in the electric commercial vehicle market?
The ECV market is dominated by established players such as BYD (China), Mercedes-Benz Group AG (Germany), Renault (France), AB Volvo (Sweden), and Yutong (China) and others. These companies manufacture and develop ECVs. These companies adopted strategies such as product developments, deals, and others to gain traction in the market.
Which region will have the fastest-growing market for electric commercial vehicle market?
Asia Pacific will be the fastest-growing electric commercial vehicle market region as it leads the global EV market, with China alone accounting for more than half of global EV sales. Leading automotive manufacturers in this region, such as BYD (China), Yutong (China), Tata Motor Limited (India), Isuzu Motors Limited (Japan), Dongfeng Motor Corporation (China) and among others are leveraging the growth of ECVs in the region.
What are the new market trends impacting the growth of the electric commercial vehicle market?
The key trends impacting the growth of the electric commercial vehicle market are government initiatives promoting electric commercial vehicle adoption, and increasing demand for emission-free electric commercial vehicles in logistics industry, among others.
What countries are covered in the North American region for the electric commercial vehicle market?
The countries covered in the report for the electric commercial vehicle market are the US and Canada.

 

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Table of Contents

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TITLE
PAGE NO
INTRODUCTION
27
RESEARCH METHODOLOGY
37
EXECUTIVE SUMMARY
51
PREMIUM INSIGHTS
56
MARKET OVERVIEW
61
  • 5.1 INTRODUCTION
  • 5.2 MARKET DYNAMICS
    DRIVERS
    - Decreasing cost of EV batteries
    - Rising fossil fuel prices
    - Increasing demand for emission-free electric commercial vehicles in logistics industry
    - Government initiatives promoting electric commercial vehicle adoption
    RESTRAINTS
    - High development costs
    - Concerns over battery safety
    - Insufficient EV charging infrastructure
    OPPORTUNITIES
    - New revenue pockets in North America and Northern Europe
    - Development of wireless EV charging technology for on-the-go charging
    CHALLENGES
    - Limited battery capacity
    - Low availability of lithium for EV batteries
    - Insufficient grid infrastructure
  • 5.3 PRICING ANALYSIS
    AVERAGE SELLING PRICE TREND, BY VEHICLE TYPE
    PRICING ANALYSIS, BY REGION
  • 5.4 POTENTIAL ELECTRIC COMMERCIAL VEHICLE LAUNCHES BY OEMS
  • 5.5 BILL OF MATERIALS
  • 5.6 OEM SOURCING STRATEGIES
    SOURCING STRATEGIES BY ELECTRIC COMMERCIAL VEHICLE OEMS
    OEM MOTOR RATING ANALYSIS, BY RANGE
    COMPETITIVE MARKET ASSESSMENT, BY PAYLOAD CAPACITY
  • 5.7 SUPPLY CHAIN ANALYSIS
  • 5.8 ECOSYSTEM MAPPING
    EV CHARGING INFRASTRUCTURE PROVIDERS
    COMPONENT MANUFACTURERS
    TIER II SUPPLIERS
    TIER I SUPPLIERS
    RAW MATERIAL SUPPLIERS
    OEMS
  • 5.9 TOTAL COST OF OWNERSHIP
    TOTAL COST OF OWNERSHIP: DIESEL VS. ELECTRIC BUSES
  • 5.10 INSIGHTS ON ELECTRIC COMMERCIAL VEHICLES
    RANGE/BATTERY CAPACITY
    RANGE/END USE
    BATTERY CAPACITY/END USE
    POWER/CHARGING DURATION
  • 5.11 CASE STUDY ANALYSIS
    ASSESSMENT OF INVESTMENT IN ELECTRIC BUSES
    USER EXPERIENCE OF BATTERY-ELECTRIC TRUCKS IN NORWAY
    ELECTRIC VEHICLE FLEETS FOR PUBLIC SECTOR IN VERMONT
  • 5.12 INVESTMENT AND FUNDING SCENARIO
  • 5.13 PATENT ANALYSIS
    INTRODUCTION
    LEGAL STATUS OF PATENTS, 2012–2023
    TOP PATENT APPLICANTS, 2012–2023
  • 5.14 TECHNOLOGY ANALYSIS
    FUTURE TECHNOLOGY OVERVIEW
    OFFBOARD TOP-DOWN PANTOGRAPH CHARGING SYSTEMS
    ONBOARD BOTTOM-UP PANTOGRAPH CHARGING SYSTEMS
    GROUND-BASED STATIC/DYNAMIC WIRELESS CHARGING SYSTEMS
    PACKAGED FUEL CELL SYSTEM MODULES
    METHANE FUEL CELLS
    SMART CHARGING SYSTEMS
    IOT IN ELECTRIC VEHICLES
    SOLID-STATE BATTERIES
  • 5.15 TRADE ANALYSIS
  • 5.16 REGULATORY LANDSCAPE
    COUNTRY-WISE REGULATIONS
    - Netherlands
    - Germany
    - France
    - UK
    - China
    - US
    REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
  • 5.17 KEY CONFERENCES AND EVENTS
  • 5.18 KEY STAKEHOLDERS AND BUYING CRITERIA
    KEY STAKEHOLDERS IN BUYING PROCESS
    BUYING CRITERIA
  • 5.19 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS
ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE
123
  • 6.1 INTRODUCTION
    OPERATIONAL DATA
  • 6.2 PICKUP TRUCKS
    INCREASED OFFERINGS FROM OEMS TO DRIVE MARKET
  • 6.3 TRUCKS
    DEVELOPMENT OF ELECTRIC TRUCKS BY AUTOMOTIVE OEMS TO DRIVE MARKET
    - Medium-duty trucks
    - Heavy-duty trucks
  • 6.4 VANS
    BOOMING LOGISTICS INDUSTRY TO DRIVE MARKET
    - Light vans
    - Full-size vans
  • 6.5 BUSES & COACHES
    GROWING DEMAND FOR EMISSION-FREE PUBLIC TRANSPORT TO DRIVE MARKET
  • 6.6 KEY INDUSTRY INSIGHTS
ELECTRIC COMMERCIAL VEHICLE MARKET, BY PROPULSION
140
  • 7.1 INTRODUCTION
    OPERATIONAL DATA
  • 7.2 BEVS
    ADVANCEMENTS IN BATTERY TECHNOLOGY TO DRIVE MARKET
  • 7.3 FCEVS
    ONGOING DEVELOPMENTS BY OEMS TO DRIVE MARKET
  • 7.4 KEY INDUSTRY INSIGHTS
ELECTRIC COMMERCIAL VEHICLE MARKET, BY BATTERY TYPE
146
  • 8.1 INTRODUCTION
  • 8.2 NMC BATTERIES
    HIGH DENSITY AND COMPACT SIZE TO DRIVE MARKET
  • 8.3 LFP BATTERIES
    AFFORDABILITY AND SUPERIOR SAFETY TO DRIVE MARKET
  • 8.4 SOLID-STATE BATTERIES
    FAST RECHARGING CAPABILITIES TO DRIVE MARKET
  • 8.5 OTHERS
  • 8.6 KEY INDUSTRY INSIGHTS
ELECTRIC COMMERCIAL VEHICLE MARKET, BY BATTERY CAPACITY
153
  • 9.1 INTRODUCTION
  • 9.2 LESS THAN 60 KWH
    INCREASING ADOPTION OF COMPACT ELECTRIC VANS FOR LOCAL TRANSPORTATION TO DRIVE MARKET
  • 9.3 60–120 KWH
    NORTH AMERICAN GOVERNMENT POLICIES FOR ELECTRIFICATION OF TRANSPORTATION TO DRIVE MARKET
  • 9.4 121–200 KWH
    RISING ADOPTION OF ELECTRIFICATION IN TRANSPORT SECTOR TO DRIVE MARKET
  • 9.5 201–300 KWH
    IMPROVED DRIVING RANGE TO FUEL MARKET GROWTH
  • 9.6 301–500 KWH
    INCREASING PREFERENCE FOR LONG-HAUL ELECTRIC COMMERCIAL VEHICLES TO DRIVE MARKET
  • 9.7 501–1,000 KWH
    RISING E-COMMERCE AND RETAIL SECTORS TO DRIVE MARKET
  • 9.8 KEY INDUSTRY INSIGHTS
ELECTRIC COMMERCIAL VEHICLE MARKET, BY POWER OUTPUT
163
  • 10.1 INTRODUCTION
  • 10.2 LESS THAN 100 KW
    GROWING ADOPTION OF ELECTRIC VANS FOR DELIVERIES BY LOGISTICS INDUSTRY TO DRIVE MARKET
  • 10.3 100–250 KW
    INCREASING DEMAND FOR ELECTRIC TRUCKS AND BUSES TO DRIVE MARKET
  • 10.4 ABOVE 250 KW
    INCREASING DEMAND FOR HIGH-POWERED ELECTRIC TRUCKS AND PICKUP TRUCKS TO DRIVE MARKET
  • 10.5 KEY INDUSTRY INSIGHTS
ELECTRIC COMMERCIAL VEHICLE MARKET, BY RANGE
169
  • 11.1 INTRODUCTION
  • 11.2 LESS THAN 150 MILES
    E-COMMERCE BOOM AND DELIVERY DEMANDS TO DRIVE MARKET
  • 11.3 151–300 MILES
    RISING DEMAND FOR ELECTRIC TRUCKS FROM TRANSPORTATION INDUSTRY TO DRIVE MARKET
  • 11.4 ABOVE 300 MILES
    RISING ADOPTION OF ELECTRIC PICKUP TRUCKS TO DRIVE MARKET
  • 11.5 KEY INDUSTRY INSIGHTS
ELECTRIC COMMERCIAL VEHICLE MARKET, BY END USE
175
  • 12.1 INTRODUCTION
  • 12.2 LAST-MILE DELIVERY
    RISING DEMAND FOR VEHICLE ELECTRIFICATION IN E-COMMERCE SECTOR TO DRIVE MARKET
  • 12.3 FIELD SERVICES
    RISING DEMAND FOR GREEN MOBILITY IN FIELD SERVICES SECTOR TO DRIVE MARKET
  • 12.4 DISTRIBUTION SERVICES
    INCREASING RELIANCE ON DELIVERY SERVICES TO FUEL MARKET EXPANSION
  • 12.5 LONG-HAUL TRANSPORTATION
    PUSH FOR SUSTAINABLE TRANSPORTATION TO DRIVE MARKET
  • 12.6 REFUSE TRUCKS
    GROWING PUBLIC AWARENESS ABOUT RESPONSIBLE WASTE COLLECTION TO DRIVE MARKET
  • 12.7 KEY INDUSTRY INSIGHTS
ELECTRIC COMMERCIAL VEHICLE MARKET, BY BODY CONSTRUCTION
180
  • 13.1 INTRODUCTION
  • 13.2 INTEGRATED
    REDUCED PRODUCTION COSTS TO DRIVE MARKET
  • 13.3 SEMI-INTEGRATED
    IMPROVED STRUCTURAL STRENGTH TO DRIVE MARKET
  • 13.4 FULL-SIZED
    SPACIOUS CARGO CAPACITY TO DRIVE MARKET
  • 13.5 KEY INDUSTRY INSIGHTS
ELECTRIC COMMERCIAL VEHICLE MARKET, BY COMPONENT
184
  • 14.1 INTRODUCTION
  • 14.2 BATTERY PACKS
  • 14.3 ONBOARD CHARGERS
  • 14.4 ELECTRIC MOTORS
  • 14.5 INVERTERS
  • 14.6 DC-DC CONVERTERS
  • 14.7 FUEL-CELL STACKS
ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION
190
  • 15.1 INTRODUCTION
  • 15.2 ASIA PACIFIC
    RECESSION IMPACT ANALYSIS
    CHINA
    - Predominance of leading players to drive market
    JAPAN
    - Increased investments in automotive R&D to drive market
    INDIA
    - Expansion of major OEMs to support market growth
    SOUTH KOREA
    - Rising demand for electric pickup trucks to drive market
  • 15.3 EUROPE
    RECESSION IMPACT ANALYSIS
    FRANCE
    - Increased adoption of electric vans for delivery purposes to drive market
    GERMANY
    - Setting up of charging corridors to drive market
    SPAIN
    - Government focus on replacing existing bus and van fleets to drive market
    AUSTRIA
    - Government incentives to drive market
    NORWAY
    - Development of charging infrastructure to drive market
    SWEDEN
    - Presence of market-leading OEMs and startups to drive market
    NETHERLANDS
    - Advancement in EV charging infrastructure to drive market
    UK
    - Government electrification roadmap to drive market
    ITALY
    - Advancements in electric commercial vehicles to drive market
    OTHERS
  • 15.4 NORTH AMERICA
    RECESSION IMPACT ANALYSIS
    US
    - Rising adoption of electric vans to drive market
    CANADA
    - Government plans to electrify transit to drive market
COMPETITIVE LANDSCAPE
239
  • 16.1 OVERVIEW
  • 16.2 MARKET SHARE ANALYSIS
  • 16.3 REVENUE ANALYSIS
  • 16.4 COMPANY VALUATION AND FINANCIAL METRICS
    COMPANY VALUATION
    FINANCIAL METRICS
  • 16.5 PRODUCT COMPARISON
  • 16.6 COMPANY EVALUATION MATRIX
    STARS
    EMERGING LEADERS
    PERVASIVE PLAYERS
    PARTICIPANTS
    COMPANY FOOTPRINT
  • 16.7 STARTUP/SME EVALUATION MATRIX
    PROGRESSIVE COMPANIES
    RESPONSIVE COMPANIES
    DYNAMIC COMPANIES
    STARTING BLOCKS
    COMPETITIVE BENCHMARKING
  • 16.8 COMPETITIVE SCENARIO
    PRODUCT LAUNCHES
    DEALS
    EXPANSIONS
  • 16.9 RIGHT TO WIN, 2024
COMPANY PROFILES
257
  • 17.1 KEY PLAYERS
    BYD
    - Business overview
    - Products offered
    - Recent developments
    - MnM view
    MERCEDES-BENZ GROUP AG
    - Business overview
    - Products offered
    - Recent developments
    - MnM view
    YUTONG
    - Business overview
    - Products offered
    - Recent developments
    - MnM view
    AB VOLVO
    - Business overview
    - Products offered
    - Recent developments
    - MnM view
    FORD MOTOR COMPANY
    - Business overview
    - Products offered
    - Recent developments
    - MnM view
    TESLA, INC.
    - Business overview
    - Products offered
    - Recent developments
    RENAULT
    - Business overview
    - Products offered
    - Recent developments
    PACCAR INC.
    - Business overview
    - Products offered
    - Recent developments
    SCANIA AB
    - Business overview
    - Products offered
    - Recent developments
    DONGFENG MOTOR CORPORATION
    - Business overview
    - Products offered
    - Recent developments
    PROTERRA
    - Business overview
    - Products offered
    - Recent developments
    VDL GROEP
    - Business overview
    - Products offered
    - Recent developments
    RIVIAN
    - Business overview
    - Products offered
    - Recent developments
  • 17.2 OTHER PLAYERS
    TATA MOTORS LIMITED
    WORKHORSE GROUP
    NIKOLA CORPORATION
    ASHOK LEYLAND
    ISUZU MOTORS LTD.
    IRIZAR GROUP
    IVECO
    BOLLINGER MOTORS
    XOS TRUCKS INC.
    MAN SE
    GOLDEN DRAGON
    ZENITH MOTORS
    ARRIVAL
    LORDSTOWN MOTORS
RECOMMENDATIONS BY MARKETSANDMARKETS
326
  • 18.1 ASIA PACIFIC TO BE SIGNIFICANT MARKET FOR ELECTRIC COMMERCIAL VEHICLES
  • 18.2 LESS THAN 150 MILES TO EMERGE AS LARGEST MARKET SEGMENT
  • 18.3 NMC BATTERIES TO BE PROMISING SEGMENT
  • 18.4 CONCLUSION
APPENDIX
328
  • 19.1 KEY INSIGHTS FROM INDUSTRY EXPERTS
  • 19.2 DISCUSSION GUIDE
  • 19.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
  • 19.4 CUSTOMIZATION OPTIONS
    PROFILING OF ADDITIONAL MARKET PLAYERS (UP TO 5)
    ELECTRIC COMMERCIAL VEHICLE MARKET, BY END USE, AT REGIONAL LEVEL
    ELECTRIC COMMERCIAL VEHICLE MARKET, BY BODY CONSTRUCTION AT REGIONAL LEVEL
  • 19.5 RELATED REPORTS
  • 19.6 AUTHOR DETAILS
LIST OF TABLES
 
  • TABLE 1 MARKET DEFINITION, BY PROPULSION
  • TABLE 2 MARKET DEFINITION, BY END USE
  • TABLE 3 MARKET DEFINITION, BY BATTERY TYPE
  • TABLE 4 MARKET DEFINITION, BY VEHICLE TYPE
  • TABLE 5 MARKET DEFINITION, BY COMPONENT
  • TABLE 6 INCLUSIONS AND EXCLUSIONS
  • TABLE 7 USD EXCHANGE RATES
  • TABLE 8 PURCHASE ORDER/SUPPLY CONTRACT FOR ELECTRIC COMMERCIAL VEHICLES
  • TABLE 9 GOVERNMENT PROGRAMS FOR ELECTRIC COMMERCIAL VEHICLE SALES
  • TABLE 10 ZERO-EMISSION LIGHT-DUTY VEHICLE POLICIES AND INCENTIVES IN SELECTED COUNTRIES
  • TABLE 11 EV CHARGER DENSITY, 2022
  • TABLE 12 ELECTRIC COMMERCIAL VEHICLE MODELS, BY COUNTRY
  • TABLE 13 BATTERY CAPACITIES OF POPULAR ELECTRIC BUSES
  • TABLE 14 ELECTRIC VANS: AVERAGE PRICE (USD), 2023
  • TABLE 15 ELECTRIC PICKUP TRUCKS: AVERAGE PRICE (USD), 2023
  • TABLE 16 ELECTRIC TRUCKS: AVERAGE PRICE (USD), 2023
  • TABLE 17 ELECTRIC BUSES: AVERAGE PRICE (USD), 2023
  • TABLE 18 ELECTRIC TRUCKS: AVERAGE PRICE COMPARISON, BY CLASS
  • TABLE 19 UPCOMING ELECTRIC COMMERCIAL VEHICLES, 2024–2026
  • TABLE 20 ROLE OF COMPANIES IN ELECTRIC COMMERCIAL VEHICLE MARKET ECOSYSTEM
  • TABLE 21 TOTAL COST OF OWNERSHIP, VEHICLE TYPE
  • TABLE 22 ELECTRIC COMMERCIAL VEHICLES: RANGE VS. BATTERY CAPACITY
  • TABLE 23 ELECTRIC COMMERCIAL VEHICLES: RANGE VS. END USE
  • TABLE 24 ELECTRIC COMMERCIAL VEHICLES: BATTERY CAPACITY VS. END USE
  • TABLE 25 ELECTRIC COMMERCIAL VEHICLES: POWER VS. CHARGING DURATION
  • TABLE 26 LIST OF FUNDING, 2021–2023
  • TABLE 27 PATENT REGISTRATIONS RELATED TO ELECTRIC COMMERCIAL VEHICLE MARKET, 2021–2023
  • TABLE 28 IMPORT DATA FOR PRODUCTS UNDER HS CODE 8702, BY KEY COUNTRY, 2022 (USD MILLION)
  • TABLE 29 EXPORT DATA FOR PRODUCTS UNDER HS CODE 8702, BY KEY COUNTRY, 2022 (USD MILLION)
  • TABLE 30 NETHERLANDS: ELECTRIC VEHICLE INCENTIVES
  • TABLE 31 NETHERLANDS: EV CHARGING STATION INCENTIVES
  • TABLE 32 GERMANY: ELECTRIC VEHICLE INCENTIVES
  • TABLE 33 GERMANY: EV CHARGING STATION INCENTIVES
  • TABLE 34 FRANCE: ELECTRIC VEHICLE INCENTIVES
  • TABLE 35 FRANCE: EV CHARGING STATION INCENTIVES
  • TABLE 36 UK: ELECTRIC VEHICLE INCENTIVES
  • TABLE 37 UK: EV CHARGING STATION INCENTIVES
  • TABLE 38 CHINA: ELECTRIC VEHICLE INCENTIVES
  • TABLE 39 CHINA: EV CHARGING STATION INCENTIVES
  • TABLE 40 US: ELECTRIC VEHICLE INCENTIVES
  • TABLE 41 US: EV CHARGING STATION INCENTIVES
  • TABLE 42 ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
  • TABLE 43 NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
  • TABLE 44 EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
  • TABLE 45 REST OF THE WORLD: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
  • TABLE 46 LIST OF KEY CONFERENCES AND EVENTS IN 2024
  • TABLE 47 INFLUENCE OF INSTITUTIONAL BUYERS ON BUYING PROCESS FOR ELECTRIC COMMERCIAL VEHICLES
  • TABLE 48 ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2019–2023 (UNITS)
  • TABLE 49 MARKET, BY VEHICLE TYPE, 2024–2030 (UNITS)
  • TABLE 50 MARKET, BY VEHICLE TYPE, 2019–2023 (USD MILLION)
  • TABLE 51 MARKET, BY VEHICLE TYPE, 2024–2030 (USD MILLION)
  • TABLE 52 ELECTRIC COMMERCIAL VEHICLE, BY VEHICLE TYPE
  • TABLE 53 PICKUP TRUCKS: MARKET, BY REGION, 2019–2023 (UNITS)
  • TABLE 54 PICKUP TRUCKS: MARKET, BY REGION, 2024–2030 (UNITS)
  • TABLE 55 PICKUP TRUCKS: MARKET, BY REGION, 2019–2023 (USD MILLION)
  • TABLE 56 PICKUP TRUCKS: MARKET, BY REGION, 2024–2030 (USD MILLION)
  • TABLE 57 TRUCKS: MARKET, BY REGION, 2019–2023 (UNITS)
  • TABLE 58 TRUCKS: MARKET, BY REGION, 2024–2030 (UNITS)
  • TABLE 59 TRUCKS: MARKET, BY REGION, 2019–2023 (USD MILLION)
  • TABLE 60 TRUCKS: MARKET, BY REGION, 2024–2030 (USD MILLION)
  • TABLE 61 MEDIUM-DUTY TRUCKS: MARKET, BY REGION, 2019–2023 (UNITS)
  • TABLE 62 MEDIUM-DUTY TRUCKS: MARKET, BY REGION, 2024–2030 (UNITS)
  • TABLE 63 MEDIUM-DUTY TRUCKS: MARKET, BY REGION, 2019–2023 (USD MILLION)
  • TABLE 64 MEDIUM-DUTY TRUCKS: MARKET, BY REGION, 2024–2030 (USD MILLION)
  • TABLE 65 HEAVY-DUTY TRUCKS: MARKET, BY REGION, 2019–2023 (UNITS)
  • TABLE 66 HEAVY-DUTY TRUCKS: MARKET, BY REGION, 2024–2030 (UNITS)
  • TABLE 67 HEAVY-DUTY TRUCKS: MARKET, BY REGION, 2019–2023 (USD MILLION)
  • TABLE 68 HEAVY-DUTY TRUCKS: MARKET, BY REGION, 2024–2030 (USD MILLION)
  • TABLE 69 VANS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2019–2023 (UNITS)
  • TABLE 70 VANS: MARKET, BY REGION, 2024–2030 (UNITS)
  • TABLE 71 VANS: MARKET, BY REGION, 2019–2023 (USD MILLION)
  • TABLE 72 VANS: MARKET, BY REGION, 2024–2030 (USD MILLION)
  • TABLE 73 LIGHT VANS: MARKET, BY REGION, 2019–2023 (UNITS)
  • TABLE 74 LIGHT VANS: MARKET, BY REGION, 2024–2030 (UNITS)
  • TABLE 75 LIGHT VANS: MARKET, BY REGION, 2019–2023 (USD MILLION)
  • TABLE 76 LIGHT VANS: MARKET, BY REGION, 2024–2030 (USD MILLION)
  • TABLE 77 FULL-SIZE VANS: MARKET, BY REGION, 2019–2023 (UNITS)
  • TABLE 78 FULL-SIZE VANS: MARKET, BY REGION, 2024–2030 (UNITS)
  • TABLE 79 FULL-SIZE VANS: MARKET, BY REGION, 2019–2023 (USD MILLION)
  • TABLE 80 FULL-SIZE VANS: MARKET, BY REGION, 2024–2030 (USD MILLION)
  • TABLE 81 BUSES & COACHES: MARKET, BY REGION, 2019–2023 (UNITS)
  • TABLE 82 BUSES & COACHES: MARKET, BY REGION, 2024–2030 (UNITS)
  • TABLE 83 BUSES & COACHES: MARKET, BY REGION, 2019–2023 (USD MILLION)
  • TABLE 84 BUSES & COACHES: MARKET, BY REGION, 2024–2030 (USD MILLION)
  • TABLE 85 ELECTRIC COMMERCIAL VEHICLE MARKET, BY PROPULSION, 2019–2023 (UNITS)
  • TABLE 86 MARKET, BY PROPULSION, 2024–2030 (UNITS)
  • TABLE 87 ELECTRIC COMMERCIAL VEHICLE MODELS, BY PROPULSION TYPE
  • TABLE 88 BEVS: MARKET, BY REGION, 2019–2023 (UNITS)
  • TABLE 89 BEVS: MARKET, BY REGION, 2024–2030 (UNITS)
  • TABLE 90 FCEVS: MARKET, BY REGION, 2019–2023 (UNITS)
  • TABLE 91 FCEVS: MARKET, BY REGION, 2024–2030 (UNITS)
  • TABLE 92 MARKET, BY BATTERY TYPE, 2019–2023 (UNITS)
  • TABLE 93 MARKET, BY BATTERY TYPE, 2024–2030 (UNITS)
  • TABLE 94 NMC BATTERIES: MARKET, BY REGION, 2019–2023 (UNITS)
  • TABLE 95 NMC BATTERIES: MARKET, BY REGION, 2024–2030 (UNITS)
  • TABLE 96 ELECTRIC COMMERCIAL VEHICLE MODELS WITH LITHIUM-ION BATTERIES
  • TABLE 97 LFP BATTERIES: MARKET, BY REGION, 2019–2023 (UNITS)
  • TABLE 98 LFP BATTERIES: MARKET, BY REGION, 2024–2030 (UNITS)
  • TABLE 99 SOLID-STATE BATTERIES: MARKET, BY REGION, 2019–2023 (UNITS)
  • TABLE 100 SOLID-STATE BATTERIES: MARKET, BY REGION, 2024–2030 (UNITS)
  • TABLE 101 OTHERS: MARKET, BY REGION, 2019–2023 (UNITS)
  • TABLE 102 OTHERS: MARKET, BY REGION, 2024–2030 (UNITS)
  • TABLE 103 MARKET, BY BATTERY CAPACITY, 2019–2023 (UNITS)
  • TABLE 104 MARKET, BY BATTERY CAPACITY, 2024–2030 (UNITS)
  • TABLE 105 LESS THAN 60 KWH: MARKET, BY REGION, 2019–2023 (UNITS)
  • TABLE 106 LESS THAN 60 KWH: MARKET, BY REGION, 2024–2030 (UNITS)
  • TABLE 107 60–120 KWH: MARKET, BY REGION, 2019–2023 (UNITS)
  • TABLE 108 60–120 KWH: MARKET, BY REGION, 2024–2030 (UNITS)
  • TABLE 109 121–200 KWH: MARKET, BY REGION, 2019–2023 (UNITS)
  • TABLE 110 121–200 KWH: MARKET, BY REGION, 2024–2030 (UNITS)
  • TABLE 111 201–300 KWH ELECTRIC COMMERCIAL VEHICLE MODELS, BY OEMS
  • TABLE 112 201–300 KWH: MARKET, BY REGION, 2019–2023 (UNITS)
  • TABLE 113 201–300 KWH: MARKET, BY REGION, 2024–2030 (UNITS)
  • TABLE 114 301–500 KWH: MARKET, BY REGION, 2019–2023 (UNITS)
  • TABLE 115 301–500 KWH: MARKET, BY REGION, 2024–2030 (UNITS)
  • TABLE 116 501–1,000 KWH: MARKET, BY REGION, 2019–2023 (UNITS)
  • TABLE 117 501–1,000 KWH: MARKET, BY REGION, 2024–2030 (UNITS)
  • TABLE 118 MARKET, BY POWER OUTPUT, 2019–2023 (UNITS)
  • TABLE 119 MARKET, BY POWER OUTPUT, 2024–2030 (UNITS)
  • TABLE 120 LESS THAN 100 KW: MARKET, BY REGION 2019–2023 (UNITS)
  • TABLE 121 LESS THAN 100 KW: MARKET, BY REGION 2024–2030 (UNITS)
  • TABLE 122 100–250 KW: MARKET, BY REGION, 2019–2023 (UNITS)
  • TABLE 123 100–250 KW: MARKET, BY REGION, 2024–2030 (UNITS)
  • TABLE 124 ABOVE 250 KW: MARKET, BY REGION, 2019–2023 (UNITS)
  • TABLE 125 ABOVE 250 KW: MARKET, BY REGION, 2024–2030 (UNITS)
  • TABLE 126 MARKET, BY RANGE, 2019–2023 (UNITS)
  • TABLE 127 MARKET, BY RANGE, 2024–2030 (UNITS)
  • TABLE 128 LESS THAN 150 MILES: MARKET, BY REGION, 2019–2023 (UNITS)
  • TABLE 129 LESS THAN 150 MILES: MARKET, BY REGION, 2024–2030 (UNITS)
  • TABLE 130 151–300 MILES: MARKET, BY REGION, 2019–2023 (UNITS)
  • TABLE 131 151–300 MILES: MARKET, BY REGION, 2024–2030 (UNITS)
  • TABLE 132 ABOVE 300 MILES: MARKET, BY REGION, 2019–2023 (UNITS)
  • TABLE 133 ABOVE 300 MILES: MARKET, BY REGION, 2024–2030 (UNITS)
  • TABLE 134 MARKET, BY END USE, 2019–2023 (UNITS)
  • TABLE 135 MARKET, BY END USE, 2024–2030 (UNITS)
  • TABLE 136 MARKET, BY BODY CONSTRUCTION, 2019–2023 (UNITS)
  • TABLE 137 MARKET, BY BODY CONSTRUCTION, 2024–2030 (UNITS)
  • TABLE 138 PRODUCTS OFFERED BY BATTERY MANUFACTURERS
  • TABLE 139 ONBOARD CHARGER MANUFACTURERS FOR ELECTRIC COMMERCIAL VEHICLES
  • TABLE 140 ELECTRIC TRUCK MODELS, BY ELECTRIC MOTOR TYPE
  • TABLE 141 INVERTER MANUFACTURERS FOR ELECTRIC COMMERCIAL VEHICLES
  • TABLE 142 MARKET, BY REGION, 2019–2023 (UNITS)
  • TABLE 143 ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2024–2030 (UNITS)
  • TABLE 144 MARKET, BY REGION, 2019–2023 (USD MILLION)
  • TABLE 145 MARKET, BY REGION, 2024–2030 (USD MILLION)
  • TABLE 146 ASIA PACIFIC: MARKET, BY COUNTRY, 2019–2023 (UNITS)
  • TABLE 147 ASIA PACIFIC: MARKET, BY COUNTRY, 2024–2030 (UNITS)
  • TABLE 148 ASIA PACIFIC: MARKET, BY COUNTRY, 2019–2023 (USD MILLION)
  • TABLE 149 ASIA PACIFIC: MARKET, BY COUNTRY, 2024–2030 (USD MILLION)
  • TABLE 150 CHINA: MARKET, BY VEHICLE TYPE, 2019–2023 (UNITS)
  • TABLE 151 CHINA: MARKET, BY VEHICLE TYPE, 2024–2030 (UNITS)
  • TABLE 152 CHINA: MARKET, BY VEHICLE TYPE, 2019–2023 (USD MILLION)
  • TABLE 153 CHINA: MARKET, BY VEHICLE TYPE, 2024–2030 (USD MILLION)
  • TABLE 154 JAPAN: MARKET, BY VEHICLE TYPE, 2019–2023 (UNITS)
  • TABLE 155 JAPAN MARKET, BY VEHICLE TYPE, 2024–2030 (UNITS)
  • TABLE 156 JAPAN: MARKET, BY VEHICLE TYPE, 2019–2023 (USD MILLION)
  • TABLE 157 JAPAN MARKET, BY VEHICLE TYPE, 2024–2030 (USD MILLION)
  • TABLE 158 INDIA: MARKET, BY VEHICLE TYPE, 2019–2023 (UNITS)
  • TABLE 159 INDIA: MARKET, BY VEHICLE TYPE, 2024–2030 (UNITS)
  • TABLE 160 INDIA: MARKET, BY VEHICLE TYPE, 2019–2023 (USD MILLION)
  • TABLE 161 INDIA: MARKET, BY VEHICLE TYPE, 2024–2030 (USD MILLION)
  • TABLE 162 SOUTH KOREA: MARKET, BY VEHICLE TYPE, 2019–2023 (UNITS)
  • TABLE 163 SOUTH KOREA: MARKET, BY VEHICLE TYPE, 2024–2030 (UNITS)
  • TABLE 164 SOUTH KOREA: MARKET, BY VEHICLE TYPE, 2019–2023 (USD MILLION)
  • TABLE 165 SOUTH KOREA: MARKET, BY VEHICLE TYPE, 2024–2030 (USD MILLION)
  • TABLE 166 EUROPE: MARKET, BY COUNTRY, 2019–2023 (UNITS)
  • TABLE 167 EUROPE: MARKET, BY COUNTRY, 2024–2030 (UNITS)
  • TABLE 168 EUROPE: MARKET, BY COUNTRY, 2019–2023 (USD MILLION)
  • TABLE 169 EUROPE: MARKET, BY COUNTRY, 2024–2030 (USD MILLION)
  • TABLE 170 FRANCE: MARKET, BY VEHICLE TYPE, 2019–2023 (UNITS)
  • TABLE 171 FRANCE: MARKET, BY VEHICLE TYPE, 2024–2030 (UNITS)
  • TABLE 172 FRANCE: MARKET, BY VEHICLE TYPE, 2019–2023 (USD MILLION)
  • TABLE 173 FRANCE: MARKET, BY VEHICLE TYPE, 2024–2030 (USD MILLION)
  • TABLE 174 GERMANY: MARKET, BY VEHICLE TYPE, 2019–2023 (UNITS)
  • TABLE 175 GERMANY: MARKET, BY VEHICLE TYPE, 2024–2030 (UNITS)
  • TABLE 176 GERMANY: MARKET, BY VEHICLE TYPE, 2019–2023 (USD MILLION)
  • TABLE 177 GERMANY: MARKET, BY VEHICLE TYPE, 2024–2030 (USD MILLION)
  • TABLE 178 SPAIN: MARKET, BY VEHICLE TYPE, 2019–2023 (UNITS)
  • TABLE 179 SPAIN: MARKET, BY VEHICLE TYPE, 2024–2030 (UNITS)
  • TABLE 180 SPAIN: MARKET, BY VEHICLE TYPE, 2019–2023 (USD MILLION)
  • TABLE 181 SPAIN: MARKET, BY VEHICLE TYPE, 2024–2030 (USD MILLION)
  • TABLE 182 AUSTRIA: MARKET, BY VEHICLE TYPE, 2019–2023 (UNITS)
  • TABLE 183 AUSTRIA: MARKET, BY VEHICLE TYPE, 2024–2030 (UNITS)
  • TABLE 184 AUSTRIA: MARKET, BY VEHICLE TYPE, 2019–2023 (USD MILLION)
  • TABLE 185 AUSTRIA: MARKET, BY VEHICLE TYPE, 2024–2030 (USD MILLION)
  • TABLE 186 NORWAY: MARKET, BY VEHICLE TYPE, 2019–2023 (UNITS)
  • TABLE 187 NORWAY: MARKET, BY VEHICLE TYPE, 2024–2030 (UNITS)
  • TABLE 188 NORWAY: MARKET, BY VEHICLE TYPE, 2019–2023 (USD MILLION)
  • TABLE 189 NORWAY: MARKET, BY VEHICLE TYPE, 2024–2030 (USD MILLION)
  • TABLE 190 SWEDEN: MARKET, BY VEHICLE TYPE, 2019–2023 (UNITS)
  • TABLE 191 SWEDEN: MARKET, BY VEHICLE TYPE, 2024–2030 (UNITS)
  • TABLE 192 SWEDEN: MARKET, BY VEHICLE TYPE, 2019–2023 (USD MILLION)
  • TABLE 193 SWEDEN: MARKET, BY VEHICLE TYPE, 2024–2030 (USD MILLION)
  • TABLE 194 NETHERLANDS: MARKET, BY VEHICLE TYPE, 2019–2023 (UNITS)
  • TABLE 195 NETHERLANDS: MARKET, BY VEHICLE TYPE, 2024–2030 (UNITS)
  • TABLE 196 NETHERLANDS: MARKET, BY VEHICLE TYPE, 2019–2023 (USD MILLION)
  • TABLE 197 NETHERLANDS: MARKET, BY VEHICLE TYPE, 2024–2030 (USD MILLION)
  • TABLE 198 UK: MARKET, BY VEHICLE TYPE, 2019–2023 (UNITS)
  • TABLE 199 UK: MARKET, BY VEHICLE TYPE, 2024–2030 (UNITS)
  • TABLE 200 UK: MARKET, BY VEHICLE TYPE, 2019–2023 (USD MILLION)
  • TABLE 201 UK: MARKET, BY VEHICLE TYPE, 2024–2030 (USD MILLION)
  • TABLE 202 ITALY: MARKET, BY VEHICLE TYPE, 2019–2023 (UNITS)
  • TABLE 203 ITALY: MARKET, BY VEHICLE TYPE, 2024–2030 (UNITS)
  • TABLE 204 ITALY: MARKET, BY VEHICLE TYPE, 2019–2023 (USD MILLION)
  • TABLE 205 ITALY: MARKET, BY VEHICLE TYPE, 2024–2030 (USD MILLION)
  • TABLE 206 OTHERS: MARKET, BY VEHICLE TYPE, 2019–2023 (UNITS)
  • TABLE 207 OTHERS: MARKET, BY VEHICLE TYPE, 2024–2030 (UNITS)
  • TABLE 208 OTHERS: MARKET, BY VEHICLE TYPE, 2019–2023 (USD MILLION)
  • TABLE 209 OTHERS: MARKET, BY VEHICLE TYPE, 2024–2030 (USD MILLION)
  • TABLE 210 NORTH AMERICA: MARKET, BY COUNTRY, 2019–2023 (UNITS)
  • TABLE 211 NORTH AMERICA: MARKET, BY COUNTRY, 2024–2030 (UNITS)
  • TABLE 212 NORTH AMERICA: MARKET, BY COUNTRY, 2019–2023 (USD MILLION)
  • TABLE 213 NORTH AMERICA: MARKET, BY COUNTRY, 2024–2030 (USD MILLION)
  • TABLE 214 US: ELECTRIC VEHICLE INCENTIVES
  • TABLE 215 US: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2019–2023 (UNITS)
  • TABLE 216 US: MARKET, BY VEHICLE TYPE, 2024–2030 (UNITS)
  • TABLE 217 US: MARKET, BY VEHICLE TYPE, 2019–2023 (USD MILLION)
  • TABLE 218 US: MARKET, BY VEHICLE TYPE, 2024–2030 (USD MILLION)
  • TABLE 219 CANADA: MARKET, BY VEHICLE TYPE, 2019–2023 (UNITS)
  • TABLE 220 CANADA: MARKET, BY VEHICLE TYPE, 2024–2030 (UNITS)
  • TABLE 221 CANADA: MARKET, BY VEHICLE TYPE, 2019–2023 (USD MILLION)
  • TABLE 222 CANADA: MARKET, BY VEHICLE TYPE, 2024–2030 (USD MILLION)
  • TABLE 223 MARKET SHARE FOR TOP FIVE PLAYERS
  • TABLE 224 MARKET: ELECTRIC BUSES COMPARISON
  • TABLE 225 ELECTRIC COMMERCIAL VEHICLE MARKET: ELECTRIC VANS COMPARISON
  • TABLE 226 MARKET: COMPANY FOOTPRINT
  • TABLE 227 MARKET: REGION FOOTPRINT
  • TABLE 228 MARKET: VEHICLE TYPE FOOTPRINT
  • TABLE 229 KEY STARTUPS/SMES
  • TABLE 230 COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES
  • TABLE 231 MARKET: PRODUCT LAUNCHES, SEPTEMBER 2021–MAY 2023
  • TABLE 232 MARKET: DEALS, APRIL 2021–JANUARY 2024
  • TABLE 233 MARKET: EXPANSIONS, DECEMBER 2021–JANUARY 2024
  • TABLE 234 RIGHT TO WIN, 2024
  • TABLE 235 BYD: COMPANY OVERVIEW
  • TABLE 236 BYD: PRODUCTS OFFERED
  • TABLE 237 BYD: PRODUCT LAUNCHES/DEVELOPMENTS
  • TABLE 238 BYD: DEALS
  • TABLE 239 BYD: EXPANSIONS
  • TABLE 240 MERCEDES-BENZ GROUP AG: COMPANY OVERVIEW
  • TABLE 241 MERCEDES-BENZ GROUP AG: PRODUCTS OFFERED
  • TABLE 242 MERCEDES-BENZ GROUP AG: PRODUCT LAUNCHES/DEVELOPMENTS
  • TABLE 243 MERCEDES-BENZ GROUP AG: DEALS
  • TABLE 244 MERCEDES-BENZ GROUP AG: EXPANSIONS
  • TABLE 245 YUTONG: COMPANY OVERVIEW
  • TABLE 246 YUTONG: PRODUCTS OFFERED
  • TABLE 247 YUTONG: PRODUCT LAUNCHES/DEVELOPMENTS
  • TABLE 248 YUTONG: DEALS
  • TABLE 249 YUTONG: EXPANSIONS
  • TABLE 250 AB VOLVO: COMPANY OVERVIEW
  • TABLE 251 AB VOLVO: PRODUCTS OFFERED
  • TABLE 252 AB VOLVO: PRODUCT LAUNCHES/DEVELOPMENTS
  • TABLE 253 AB VOLVO: DEALS
  • TABLE 254 AB VOLVO: EXPANSIONS
  • TABLE 255 FORD MOTOR COMPANY: COMPANY OVERVIEW
  • TABLE 256 FORD MOTOR COMPANY: PRODUCTS OFFERED
  • TABLE 257 FORD MOTOR COMPANY: PRODUCT LAUNCHES/DEVELOPMENTS
  • TABLE 258 FORD MOTOR COMPANY: DEALS
  • TABLE 259 FORD MOTOR COMPANY: EXPANSIONS
  • TABLE 260 TESLA, INC.: COMPANY OVERVIEW
  • TABLE 261 TESLA, INC.: PRODUCTS OFFERED
  • TABLE 262 TESLA, INC.: PRODUCT LAUNCHES/DEVELOPMENTS
  • TABLE 263 TESLA, INC.: DEALS
  • TABLE 264 TESLA, INC.: EXPANSIONS
  • TABLE 265 RENAULT: COMPANY OVERVIEW
  • TABLE 266 RENAULT: PRODUCTS OFFERED
  • TABLE 267 RENAULT: PRODUCT LAUNCHES/DEVELOPMENTS
  • TABLE 268 RENAULT: DEALS
  • TABLE 269 RENAULT: EXPANSIONS
  • TABLE 270 PACCAR INC.: COMPANY OVERVIEW
  • TABLE 271 PACCAR INC.: PRODUCTS OFFERED
  • TABLE 272 PACCAR INC.: PRODUCT LAUNCHES/DEVELOPMENTS
  • TABLE 273 PACCAR INC.: DEALS
  • TABLE 274 PACCAR INC.: EXPANSIONS
  • TABLE 275 SCANIA AB: COMPANY OVERVIEW
  • TABLE 276 SCANIA AB: PRODUCTS OFFERED
  • TABLE 277 SCANIA AB: PRODUCT LAUNCHES/DEVELOPMENTS
  • TABLE 278 SCANIA AB: DEALS
  • TABLE 279 SCANIA AB: EXPANSIONS
  • TABLE 280 DONGFENG MOTOR CORPORATION: COMPANY OVERVIEW
  • TABLE 281 DONGFENG MOTOR CORPORATION: PRODUCTS OFFERED
  • TABLE 282 DONGFENG MOTOR CORPORATION: DEALS
  • TABLE 283 DONGFENG MOTOR CORPORATION: EXPANSIONS
  • TABLE 284 PROTERRA: COMPANY OVERVIEW
  • TABLE 285 PROTERRA: PRODUCTS OFFERED
  • TABLE 286 PROTERRA: PRODUCT LAUNCHES/ DEVELOPMENTS
  • TABLE 287 PROTERRA: DEALS
  • TABLE 288 PROTERRA: EXPANSIONS
  • TABLE 289 VDL GROEP: COMPANY OVERVIEW
  • TABLE 290 VDL GROEP: PRODUCTS OFFERED
  • TABLE 291 VDL GROEP: PRODUCT LAUNCHES/DEVELOPMENTS
  • TABLE 292 VDL GROEP: DEALS
  • TABLE 293 RIVIAN: COMPANY OVERVIEW
  • TABLE 294 RIVIAN: PRODUCTS OFFERED
  • TABLE 295 RIVIAN: PRODUCT LAUNCHES/DEVELOPMENTS
  • TABLE 296 RIVIAN: DEALS
  • TABLE 297 RIVIAN: EXPANSIONS
LIST OF FIGURES
 
  • FIGURE 1 MARKET SEGMENTATION
  • FIGURE 2 RESEARCH DESIGN
  • FIGURE 3 RESEARCH DESIGN MODEL
  • FIGURE 4 BOTTOM-UP APPROACH
  • FIGURE 5 TOP-DOWN APPROACH
  • FIGURE 6 RESEARCH APPROACH
  • FIGURE 7 ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATION NOTES
  • FIGURE 8 DATA TRIANGULATION
  • FIGURE 9 MARKET OVERVIEW
  • FIGURE 10 MARKET, BY REGION, 2024 VS. 2030 (USD MILLION)
  • FIGURE 11 MARKET, BY VEHICLE TYPE, 2024 VS. 2030 (USD MILLION)
  • FIGURE 12 KEY PLAYERS IN MARKET
  • FIGURE 13 INCREASING ADOPTION OF ZERO-EMISSION VEHICLES TO DRIVE MARKET
  • FIGURE 14 BUSES & COACHES SEGMENT TO LEAD MARKET DURING FORECAST PERIOD
  • FIGURE 15 BATTERY ELECTRIC VEHICLES SEGMENT TO DOMINATE DURING FORECAST PERIOD
  • FIGURE 16 NMC BATTERIES SEGMENT TO HAVE LARGEST MARKET SHARE DURING FORECAST PERIOD
  • FIGURE 17 LESS THAN 150 MILES SEGMENT TO LEAD MARKET DURING FORECAST PERIOD
  • FIGURE 18 501-1,000 KWH SEGMENT TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
  • FIGURE 19 ABOVE 250 KW SEGMENT TO GROW AT HIGHEST RATE DURING FORECAST PERIOD
  • FIGURE 20 LONG-HAUL TRANSPORTATION SEGMENT TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
  • FIGURE 21 INTEGRATED SEGMENT TO DISPLAY HIGHEST CAGR DURING FORECAST PERIOD
  • FIGURE 22 ASIA PACIFIC TO LEAD MARKET DURING FORECAST PERIOD
  • FIGURE 23 MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
  • FIGURE 24 EV BATTERY PRICING, 2019–2025
  • FIGURE 25 AVERAGE GLOBAL PETROL PRICES 2001 VS. 2011 VS. 2023
  • FIGURE 26 OPERATING COST COMPARISON OF EVS AND ICE VEHICLES
  • FIGURE 27 LIFE-CYCLE GHG EMISSIONS FOR 40-TON TRACTOR TRAILERS, 2021 VS. 2030 SCENARIOS
  • FIGURE 28 GLOBAL REGULATORY COMPARISON FOR ELECTRIC VEHICLES AND CHARGERS
  • FIGURE 29 GLOBAL ELECTRIFICATION TARGETS
  • FIGURE 30 BATTERY SAFETY ARCHITECTURE
  • FIGURE 31 PRIVATE, SEMI-PUBLIC, AND PUBLIC CHARGING OWNERSHIP
  • FIGURE 32 FUNCTIONING OF WIRELESSLY CHARGED ELECTRIC BUSES
  • FIGURE 33 TIME REQUIRED FOR DIFFERENT CHARGING TYPES
  • FIGURE 34 GROWING DEMAND FOR LITHIUM-ION BATTERIES, 2010–2030
  • FIGURE 35 GRID REQUIREMENT FOR ELECTRIC VEHICLES IN GERMANY
  • FIGURE 36 PRICING ANALYSIS, BY REGION
  • FIGURE 37 BILL OF MATERIALS: ELECTRIC LIGHT COMMERCIAL VEHICLES (USD)
  • FIGURE 38 BILL OF MATERIALS: BATTERY VS. NON-BATTERY COMPONENTS (USD)
  • FIGURE 39 BILL OF MATERIALS: ELECTRIC BUS MARKET (USD)
  • FIGURE 40 OEM SOURCING STRATEGIES
  • FIGURE 41 MARKET, BY POWER RANGE (KW)
  • FIGURE 42 MARKET COMPETITIVE ASSESSMENT, BY PAYLOAD CAPACITY
  • FIGURE 43 CARGO DELIVERY VS. PAYLOAD CAPACITY
  • FIGURE 44 SUPPLY CHAIN ANALYSIS
  • FIGURE 45 MARKET ECOSYSTEM
  • FIGURE 46 MARKET ECOSYSTEM MAP
  • FIGURE 47 COMPARISON OF TOTAL COST OF OWNERSHIP: 12 M ELECTRIC BUSES VS. 12 M DIESEL BUSES
  • FIGURE 48 TOTAL COST OF OWNERSHIP: FORD ELECTRIC TRANSIT VS. ICE TRANSIT 3.5 TONS MODELS
  • FIGURE 49 INVESTMENT AND FUNDING, 2021–2024
  • FIGURE 50 TRENDS OF PATENTS RECORDED, 2012–2023
  • FIGURE 51 LEGAL STATUS OF PATENTS, 2012–2023
  • FIGURE 52 TOP PATENT APPLICANTS, 2012–2023
  • FIGURE 53 MARKET: FUTURE TECHNOLOGY OVERVIEW OF ELECTRICAL COMMERCIAL BUSES
  • FIGURE 54 PACKAGED FUEL CELL SYSTEM MODULE OF TOYOTA
  • FIGURE 55 SMART EV CHARGING SYSTEM
  • FIGURE 56 KEY BUYING CRITERIA BY VEHICLE TYPES
  • FIGURE 57 REVENUE SHIFT AND NEW REVENUE POCKETS FOR PLAYERS IN MARKET
  • FIGURE 58 MARKET, BY VEHICLE TYPE, 2024 VS. 2030 (USD MILLION)
  • FIGURE 59 MARKET, BY PROPULSION, 2024 VS. 2030 (THOUSAND UNITS)
  • FIGURE 60 MARKET, BY BATTERY TYPE, 2024–2030 (THOUSAND UNITS)
  • FIGURE 61 MARKET, BY BATTERY CAPACITY, 2024 VS. 2030 (THOUSAND UNITS)
  • FIGURE 62 MARKET, BY POWER OUTPUT, 2024 VS. 2030 (THOUSAND UNITS)
  • FIGURE 63 MARKET, BY RANGE, 2024 VS. 2030 (THOUSAND UNITS)
  • FIGURE 64 MARKET, BY END USE, 2024 VS. 2030 (THOUSAND UNITS)
  • FIGURE 65 MARKET, BY BODY CONSTRUCTION, 2024 VS. 2030 (THOUSAND UNITS)
  • FIGURE 66 CONSTITUENTS OF ELECTRIC VEHICLE CHARGING SYSTEM
  • FIGURE 67 DC-DC CONVERTER
  • FIGURE 68 HYDROGEN FUEL CELL VEHICLE COMPONENTS
  • FIGURE 69 GLOBAL LIGHT ELECTRIC COMMERCIAL VEHICLE TARGETS
  • FIGURE 70 MARKET, BY REGION, 2024 VS. 2030 (USD MILLION)
  • FIGURE 71 TIMELINE OF ALL EXISTING AND UPCOMING REGULATIONS IN EUROPE, US, AND CHINA
  • FIGURE 72 ASIA PACIFIC: MARKET SNAPSHOT
  • FIGURE 73 EUROPE: MARKET, BY COUNTRY, 2024 VS. 2030 (USD MILLION)
  • FIGURE 74 UK EV ROADMAP
  • FIGURE 75 NORTH AMERICAN EV BATTERY INITIATIVES
  • FIGURE 76 NORTH AMERICA: MARKET SNAPSHOT
  • FIGURE 77 ELECTRIC COMMERCIAL VEHICLE DEMAND, BY END USER
  • FIGURE 78 MARKET SHARE ANALYSIS, 2023
  • FIGURE 79 REVENUE ANALYSIS OF KEY PLAYERS, 2018–2022
  • FIGURE 80 COMPANY VALUATION OF KEY PLAYERS, 2022 (USD BILLION)
  • FIGURE 81 FINANCIAL METRICS OF KEY PLAYERS (EV/EBITDA)
  • FIGURE 82 MARKET: COMPANY EVALUATION MATRIX, 2030
  • FIGURE 83 MARKET: STARTUP/SME EVALUATION MATRIX, 2030
  • FIGURE 84 BYD: COMPANY SNAPSHOT
  • FIGURE 85 MERCEDES-BENZ GROUP AG: COMPANY SNAPSHOT
  • FIGURE 86 NEW MERCEDES-BENZ GROUP AG
  • FIGURE 87 AB VOLVO: COMPANY SNAPSHOT
  • FIGURE 88 AB VOLVO: HEAVY-DUTY TRUCKS MARKET SHARE (2022)
  • FIGURE 89 FORD MOTOR COMPANY: COMPANY SNAPSHOT
  • FIGURE 90 FORD MOTOR COMPANY: ROAD TO CARBON NEUTRALITY
  • FIGURE 91 TESLA, INC.: COMPANY SNAPSHOT
  • FIGURE 92 TESLA, INC.: ROADMAP
  • FIGURE 93 RENAULT: COMPANY SNAPSHOT
  • FIGURE 94 PACCAR INC.: COMPANY SNAPSHOT
  • FIGURE 95 SCANIA AB: COMPANY SNAPSHOT
  • FIGURE 96 DONGFENG MOTOR CORPORATION: COMPANY SNAPSHOT
  • FIGURE 97 PROTERRA: COMPANY SNAPSHOT
  • FIGURE 98 VDL GROEP: COMPANY SNAPSHOT

 

This research study involved the extensive use of secondary sources, such as company annual reports/presentations, industry association publications, automotive magazine articles, directories, technical handbooks, the World Economic Outlook, trade websites, technical articles, and databases, to identify and collect information on the Electric Commercial Vehicle market. In-depth interviews were conducted with various primary respondents, including key industry participants, subject-matter experts (SMEs), C-level executives of key market players (ECVs manufacturers and suppliers), and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information and assess market prospects.

Secondary Research

In the secondary research process, various secondary sources were used to identify and collect information on the electric commercial vehicle market for this study. Secondary sources included annual reports, press releases, and investor presentations of companies; whitepapers, certified publications, and articles from recognized authors; directories; databases; and articles from recognized associations and government publishing sources.

Primary Research

Extensive primary research was conducted after understanding the electric commercial vehicle market scenario through secondary research. Several primary interviews were conducted with market experts from both the demand (OEMs) and supply (electric commercial vehicle manufacturers and component manufacturers) sides across major regions, namely, North America, Europe, and Asia Pacific. Approximately 30% and 70% of primary interviews were conducted from the demand and supply sides, respectively. Primary data was collected through questionnaires, emails, and telephonic interviews.

In the canvassing of primaries, various departments within organizations, such as sales, operations, and marketing, were covered to provide a holistic viewpoint in the report. After interacting with industry experts, brief sessions were conducted with highly experienced independent consultants to reinforce the findings from primaries. This, along with the opinions of in-house subject matter experts, led to the findings described in the remainder of this report.

Electric Commercial Vehicle Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

  • A detailed market estimation approach was followed to estimate and validate the value and volume of the electric commercial vehicle market and other dependent submarkets, as mentioned below:
  • The market size was derived by collecting sales of electric commercial vehicles (Pickup Trucks, Medium-duty and Heavy-duty Trucks, Light and Full-Size Vans, and Buses & Coaches) through association and paid databases.
  • Key players in the electric commercial vehicle market were identified through secondary research, and their global market share was determined through primary and secondary research.
  • The research methodology includes the study of annual and quarterly financial reports, regulatory filings of major market players, and interviews with industry experts to gain detailed market insights.
  • All major penetration rates, percentage shares, splits, and breakdowns for the electric commercial vehicles market were determined through secondary sources and verified through primary sources.
  • All key macro indicators affecting the revenue growth of the market segments and subsegments were accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the validated and verified quantitative & qualitative data.
  • The gathered market data was consolidated and added with detailed inputs, analyzed, and presented in this report.

Electric Commercial Vehicle Market Bottom Up Approach

To know about the assumptions considered for the study, Request for Free Sample Report

Electric Commercial Vehicle Market Top Down Approach

Data Triangulation

All percentage shares, splits, and breakdowns have been determined using secondary sources and verified by primary sources. All parameters that are said to affect the markets covered in this research study have been accounted for, viewed in extensive detail, and analyzed to obtain the final quantitative and qualitative data. This data has been consolidated, enhanced with detailed inputs and analysis from MarketsandMarkets, and presented in the report. The following figure is an illustrative representation of the overall market size estimation process employed for this study.

Market Definition

According to the European Alternative Fuels Observatory (EAFO), an electric vehicle is any motor vehicle that can be recharged from an external source of electricity. The electricity stored in the rechargeable battery packs drives the wheels. Electric commercial vehicles include pickup trucks, trucks, buses, and vans that use electric motors for propulsion. These vehicles are powered by electricity and used for commercial purposes, like transporting goods or passengers.

List of Key Stakeholders

  • Associations, Forums, and Alliances related to Electric Trucks
  • Automobile Manufacturers
  • Automotive Component Manufacturers
  • Automotive Investors
  • Automotive Software Manufacturers and Providers
  • Battery Distributors
  • Battery Manufacturers
  • Charging Infrastructure Providers
  • Charging Service Providers
  • Companies Operating in Autonomous Vehicle Ecosystem
  • Distributors and Retailers
  • Electric Pickup Truck Manufacturers
  • Electric Van Manufacturers
  • Electric Medium and Heavy-duty Truck Manufacturers
  • EV Battery Manufacturers
  • EV Charging Equipment Manufacturers
  • EV Charging Infrastructure Service Providers
  • EV Component Manufacturers
  • EV Distributors and Retailers
  • Government Agencies and Policy Makers
  • Original Equipment Manufacturers
  • Raw Material Suppliers for Automotive Software or Components
  • Technology Providers
  • Transport Authorities
  • Technology Providers
  • Vehicle Electronics Manufacturers

Report Objectives

  • To segment and forecast the size of the electric commercial vehicle market in terms of volume (units) and value (USD million) from 2019 to 2030
    • To define, describe, and forecast the electric commercial vehicle market based on body construction, vehicle type, propulsion, battery type, battery capacity, power output, range, end use, component, and region
    • To segment and forecast the market size by volume based on body construction (integrated, semi-integrated, and full-sized)
    • To segment and forecast the market size by volume and value at the regional level based on vehicle type [pickup trucks, trucks (medium-duty trucks and heavy-duty trucks), vans (light vans and full-size vans), and buses & coaches]
    • To segment and forecast the market size by volume based on propulsion (BEVs and FCEVs)
    • To segment and forecast the market size by volume based on battery type (NMC batteries, LFP batteries, solid-state batteries, and others)
    • To segment and forecast the market size by volume based on battery capacity (less than 60 kWh, 60–120 kWh, 121–200 kWh, 201–300 kWh, 301–500 kWh, and 501–1,000 kWh)
    • To segment and forecast the market size by volume based on power output (less than 100 kW, 100–250 kW, and above 250 kW)
    • To segment and forecast the market size by volume based on range (less than 150 miles, 151–300 miles, and above 300 miles)
    • To segment and forecast the market size by volume based on end use (last-mile delivery, field services, distribution services, long-haul transportation, and refuse trucks)
    • To segment the market based on component (battery packs, onboard chargers, electric motors, inverters, DC-DC converters, e-axles (including gearboxes), and fuel-cell stacks)
    • To forecast the market size with respect to key regions, namely, Asia Pacific, Europe, and North America
  • To provide detailed information regarding the major factors influencing the market growth (drivers, challenges, restraints, and opportunities)
  • To strategically analyze markets with respect to individual growth trends, prospects, and contributions to the total market
  • To strategically profile key players and comprehensively analyze their market share and core competencies
  • To analyze opportunities for stakeholders and the competitive landscape for market leaders
  • To track and analyze competitive developments such as product launches, deals, and others undertaken by the key industry participants
  • To study the following with respect to the market:
    • Supply Chain Analysis
    • Ecosystem Analysis
    • Technology Analysis
    • Trade Analysis
    • Case Study Analysis
    • Patent Analysis
    • Regulatory Landscape
    • Conferences and Events
    • Average Selling Price Analysis
    • Buying Criteria
  • To analyze opportunities for stakeholders and the competitive landscape for market leaders
  • To track and analyze competitive developments such as product developments, deals, and others undertaken by the key industry participants

Available Customizations

With the given market data, MarketsandMarkets offers customizations in accordance with the company’s specific needs.

  • Electric Commercial Vehicle Market, by End Use, at regional level (for countries covered in the scope of the report)
  • Electric Commercial Vehicle Market, by Body Construction at regional level (for countries covered in the scope of the report)
  • Profiling of additional market players (up to 5)

Previous Versions of this Report

Electric Commercial Vehicle Market by Propulsion (BEVs & FCEVs), Vehicle Type (Pickups, Medium and Heavy-Duty Trucks & Vans), Range, Battery Type, Power Output, Battery Capacity, Component, End User, Body Construction and Region - Global Forecast to 2030

Report Code AT 6196
Published in Jun, 2023, By MarketsandMarkets™

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

Report Code AT 6196
Published in May, 2022, By MarketsandMarkets™

Electric Commercial Vehicle Market by Propulsion Type, Vehicle Type, Range, Battery Type, Length of Bus, Power Output Type, Battery Capacity Type, Component Type, Autonomous Vehicles Type, End User and Region - Global Forecast to 2028

Report Code AT 6196
Published in Dec, 2020, By MarketsandMarkets™

Electric Commercial Vehicle Market by Propulsion Type, Vehicle Type, Range, Battery Type, Length of Bus, Power Output Type, Battery Capacity Type, Component Type, Autonomous Vehicles Type, and Region - Global Forecast to 2027

Report Code AT 6196
Published in Nov, 2019, By MarketsandMarkets™

Electric Commercial Vehicle Market by Propulsion Type, Vehicle Type, Range, Battery Type, Length of Bus, Power Output Type, Battery Capacity Type, Component Type, Autonomous Vehicles Type, and Region - Global Forecast to 2027

Report Code AT 6196
Published in Apr, 2018, By MarketsandMarkets™
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