Electric Commercial Vehicle Market

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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

FREE BROCHURE FREE SAMPLE REPORT
Report Code: AT 6196 May, 2022, by marketsandmarkets.com

[333 Pages Report] 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%. 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.

Electric Commercial Vehicle Market

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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 electric commercial vehicle 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 electric commercial vehicle market in the region.

Electric Commercial Vehicle Market by 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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Scope of the Report

Report Metric

Details

Market size available for years

2018–2030

Base year considered

2021

Forecast period

2022-2030

Forecast units

Volume (Units)

Segments covered

Vehicle type, propulsion, battery type, range, length of bus, power output, component, battery capacity, end use, autonomous vehicle, truck payload capacity and region

Geographies covered

Asia Pacific, Europe and North America

Companies Covered

BYD (China), Yutong (China), AB Volvo (Sweden), VDL Groep (Netherlands), CAF (Spain) among others.
A total of 32 major company profiles covered and provided.

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:

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.

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 35)
    1.1 OBJECTIVES OF THE STUDY
    1.2 MARKET DEFINITION
           TABLE 1 ELECTRIC COMMERCIAL VEHICLE MARKET DEFINITION, BY PROPULSION
           TABLE 2 ELECTRIC COMMERCIAL VEHICLE MARKET DEFINITION, BY VEHICLE TYPE
           TABLE 3 ELECTRIC COMMERCIAL VEHICLE MARKET DEFINITION, BY END USER
           TABLE 4 ELECTRIC COMMERCIAL VEHICLE MARKET DEFINITION, BY COMPONENT
           TABLE 5 ELECTRIC COMMERCIAL VEHICLE MARKET DEFINITION, BY BATTERY TYPE
           TABLE 6 ELECTRIC COMMERCIAL VEHICLE MARKET DEFINITION, BY POWER OUTPUT
           TABLE 7 ELECTRIC COMMERCIAL VEHICLE MARKET DEFINITION, BY BATTERY CAPACITY
           TABLE 8 ELECTRIC COMMERCIAL VEHICLE MARKET DEFINITION, BY AUTONOMOUS VEHICLE
           TABLE 9 ELECTRIC COMMERCIAL VEHICLE MARKET DEFINITION, BY LENGTH OF BUS
           TABLE 10 ELECTRIC TRUCK MARKET DEFINITION, BY TRUCK PAYLOAD CAPACITY
           TABLE 11 ELECTRIC COMMERCIAL VEHICLE MARKET DEFINITION, RANGE
           1.2.1 INCLUSIONS & EXCLUSIONS
                    TABLE 12 INCLUSIONS & EXCLUSIONS IN THE ELECTRIC COMMERCIAL VEHICLE 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. - 46)
    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 electric commercial vehicle 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: ELECTRIC COMMERCIAL VEHICLE MARKET
           2.2.2 TOP-DOWN APPROACH
                    FIGURE 8 TOP-DOWN APPROACH: ELECTRIC COMMERCIAL VEHICLE MARKET
                    FIGURE 9 ELECTRIC COMMERCIAL VEHICLE MARKET: MARKET ESTIMATION NOTES
                    FIGURE 10 ELECTRIC COMMERCIAL VEHICLE 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. - 62)
    FIGURE 13 ELECTRIC COMMERCIAL VEHICLE MARKET: MARKET OVERVIEW
    FIGURE 14 ELECTRIC COMMERCIAL VEHICLE 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. - 66)
    4.1 ATTRACTIVE OPPORTUNITIES IN ELECTRIC COMMERCIAL VEHICLE MARKET
           FIGURE 16 INCREASING DEMAND FOR ZERO-EMISSION COMMUTING TO DRIVE MARKET
    4.2 ELECTRIC COMMERCIAL VEHICLE MARKET GROWTH RATE, BY REGION
           FIGURE 17 ASIA PACIFIC PROJECTED TO BE LARGEST MARKET DURING FORECAST PERIOD
    4.3 ELECTRIC COMMERCIAL VEHICLE MARKET, BY BATTERY TYPE
           FIGURE 18 LITHIUM-IRON-PHOSPHATE SEGMENT TO GROW AT FASTER RATE (2022–2030)
    4.4 ELECTRIC COMMERCIAL VEHICLE 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 ELECTRIC COMMERCIAL VEHICLE MARKET, BY PROPULSION
           FIGURE 21 FCEVS EXPECTED TO EMERGE FASTER DURING FORECAST PERIOD (2022–2030)
    4.7 ELECTRIC COMMERCIAL VEHICLE 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 ELECTRIC COMMERCIAL VEHICLE MARKET, BY RANGE
           FIGURE 23 ABOVE 300 MILES RANGE ECV DEMAND TO HAVE HIGHER DEMAND DURING FORECAST PERIOD (2022–2030)
    4.9 ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE
           FIGURE 24 PICKUP TRUCKS TO WITNESS RAPID GROWTH DURING FORECAST PERIOD (2022–2030)
    4.10 ELECTRIC COMMERCIAL VEHICLE 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. - 72)
    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 ELECTRIC COMMERCIAL VEHICLE MARKET: IMPACT OF MARKET DYNAMICS
    5.3 PORTER’S FIVE FORCES MODEL ANALYSIS
           FIGURE 40 ELECTRIC COMMERCIAL VEHICLE MARKET: PORTERS 5 FORCES ANALYSIS
           TABLE 19 ELECTRIC COMMERCIAL VEHICLE 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 ELECTRIC COMMERCIAL VEHICLE MARKET ECOSYSTEM
           FIGURE 41 ELECTRIC COMMERCIAL VEHICLE 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 ELECTRIC COMMERCIAL VEHICLE 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: ELECTRIC COMMERCIAL VEHICLE 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 ELECTRIC COMMERCIAL VEHICLE 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 ELECTRIC COMMERCIAL VEHICLE MARKET
    5.13 TRENDS AND DISRUPTIONS IN ELECTRIC COMMERCIAL VEHICLE MARKET
                    FIGURE 52 TRENDS AND DISRUPTIONS IN ELECTRIC COMMERCIAL VEHICLE 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 ELECTRIC COMMERCIAL VEHICLE MARKET: DETAILED LIST OF CONFERENCES & EVENTS
    5.16 ELECTRIC COMMERCIAL VEHICLE MARKET, MARKET SCENARIOS (2022–2030)
                    FIGURE 53 ELECTRIC COMMERCIAL VEHICLE MARKET: FUTURE TRENDS & SCENARIOS, 2022–2030 (UNITS)
           5.16.1 REALISTIC SCENARIO
                    TABLE 46 ELECTRIC COMMERCIAL VEHICLE MARKET: REALISTIC SCENARIO, BY REGION, 2022–2030 (UNITS)
           5.16.2 OPTIMISTIC SCENARIO
                    TABLE 47 ELECTRIC COMMERCIAL VEHICLE MARKET: OPTIMISTIC SCENARIO, BY REGION, 2022–2030 (UNITS)
           5.16.3 PESSIMISTIC SCENARIO
                    TABLE 48 ELECTRIC COMMERCIAL VEHICLE MARKET: PESSIMISTIC SCENARIO, BY REGION, 2022–2030 (UNITS)

6 ELECTRIC COMMERCIAL VEHICLE MARKET, BY AUTONOMOUS VEHICLE (Page No. - 125)
    6.1 INTRODUCTION
    6.2 ELECTRIC AUTONOMOUS TRUCK
    6.3 ELECTRIC AUTONOMOUS BUS

7 ELECTRIC COMMERCIAL VEHICLE MARKET, BY BATTERY TYPE (Page No. - 127)
    7.1 INTRODUCTION
           FIGURE 54 NMC SEGMENT TO DOMINATE ELECTRIC COMMERCIAL VEHICLES MARKET IN FORECAST PERIOD
           TABLE 49 ELECTRIC COMMERCIAL VEHICLES MARKET SIZE, BY BATTERY TYPE, 2018–2021 (UNITS)
           TABLE 50 ELECTRIC COMMERCIAL VEHICLES 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 ELECTRIC COMMERCIAL VEHICLES MARKET, BY REGION, 2018–2021 (UNITS)
                    TABLE 54 NICKEL-MANGANESE-COBALT BATTERIES IN ELECTRIC COMMERCIAL VEHICLES 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 ELECTRIC COMMERCIAL VEHICLES MARKET, BY REGION, 2018–2021 (UNITS)
                    TABLE 56 LITHIUM-IRON-PHOSPHATE BATTERIES IN ELECTRIC COMMERCIAL VEHICLES 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 ELECTRIC COMMERCIAL VEHICLES MARKET, BY REGION, 2018–2021 (UNITS)
                    TABLE 58 OTHER BATTERIES IN ELECTRIC COMMERCIAL VEHICLES MARKET, BY REGION, 2022–2030 (UNITS)
    7.5 SOLID STATE BATTERY
    7.6 KEY INDUSTRY INSIGHTS

8 ELECTRIC COMMERCIAL VEHICLES MARKET, BY BATTERY CAPACITY (Page No. - 135)
    8.1 INTRODUCTION
           FIGURE 55 50-250 KWH SEGMENT TO GROW FASTEST DURING FORECAST PERIOD
           TABLE 59 ELECTRIC COMMERCIAL VEHICLES MARKET SIZE, BY BATTERY CAPACITY, 2018–2021 (UNITS)
           TABLE 60 ELECTRIC COMMERCIAL VEHICLES 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 ELECTRIC COMMERCIAL VEHICLES MARKET, BY REGION, 2018–2021 (UNITS)
                    TABLE 64 LESS THAN 50 KWH ELECTRIC COMMERCIAL VEHICLES 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 ELECTRIC COMMERCIAL VEHICLES MARKET, BY REGION, 2018–2021 (UNITS)
                    TABLE 66 50-250 KWH ELECTRIC COMMERCIAL VEHICLES 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 ELECTRIC COMMERCIAL VEHICLES MARKET, BY REGION, 2018–2021 (UNITS)
                    TABLE 68 ABOVE 250 KWH ELECTRIC COMMERCIAL VEHICLES MARKET, BY REGION, 2022–2030 (UNITS)
    8.5 KEY INDUSTRY INSIGHTS

9 ELECTRIC COMMERCIAL VEHICLE MARKET, BY COMPONENT (Page No. - 143)
    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. - 147)
     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 VEHICLES MARKET, BY PROPULSION (Page No. - 155)
     11.1 INTRODUCTION
               FIGURE 57 BEV SEGMENT TO DRIVE ELECTRIC COMMERCIAL VEHICLES MARKET IN FORECAST PERIOD
               TABLE 78 ELECTRIC COMMERCIAL VEHICLES MARKET SIZE, BY PROPULSION, 2018–2021 (UNITS)
               TABLE 79 ELECTRIC COMMERCIAL VEHICLES 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. - 164)
     12.1 INTRODUCTION
               FIGURE 58 LESS THAN 100 KW SEGMENT TO HAVE HIGHEST DEMAND IN ELECTRIC COMMERCIAL VEHICLE MARKET IN FORECAST PERIOD
               TABLE 88 ELECTRIC COMMERCIAL VEHICLE MARKET SIZE, BY POWER OUTPUT, 2018–2021 (UNITS)
               TABLE 89 ELECTRIC COMMERCIAL VEHICLE 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 ELECTRIC COMMERCIAL VEHICLES MARKET, BY REGION, 2018–2021 (UNITS)
                       TABLE 92 LESS THAN 100 KW POWER OUTPUT ELECTRIC COMMERCIAL VEHICLES 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 ELECTRIC COMMERCIAL VEHICLES MARKET, BY REGION, 2018–2021 (UNITS)
                       TABLE 94 100-250 KW POWER OUTPUT ELECTRIC COMMERCIAL VEHICLES 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 ELECTRIC COMMERCIAL VEHICLES MARKET, BY REGION, 2018–2021 (UNITS)
                       TABLE 96 ABOVE 250 KW POWER OUTPUT ELECTRIC COMMERCIAL VEHICLES MARKET, BY REGION, 2022–2030 (UNITS)
     12.5 KEY INDUSTRY INSIGHTS

13 ELECTRIC COMMERCIAL VEHICLE MARKET, BY RANGE (Page No. - 172)
     13.1 INTRODUCTION
               FIGURE 59 LESS THAN 150 MILES SEGMENT TO ACQUIRE HIGHEST DEMAND IN ELECTRIC COMMERCIAL VEHICLE MARKET IN FORECAST PERIOD
               TABLE 97 ELECTRIC COMMERCIAL VEHICLE MARKET SIZE, BY RANGE, 2018–2021 (UNITS)
               TABLE 98 ELECTRIC COMMERCIAL VEHICLE 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 ELECTRIC COMMERCIAL VEHICLES MARKET, BY REGION, 2018–2021 (UNITS)
                       TABLE 101 LESS THAN 150 MILES RANGE ELECTRIC COMMERCIAL VEHICLES 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 ELECTRIC COMMERCIAL VEHICLES MARKET, BY REGION, 2018–2021 (UNITS)
                       TABLE 103 150-300 MILES RANGE ELECTRIC COMMERCIAL VEHICLES 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 ELECTRIC COMMERCIAL VEHICLES MARKET, BY REGION, 2018–2021 (UNITS)
                       TABLE 105 ABOVE 300 MILES RANGE ELECTRIC COMMERCIAL VEHICLES MARKET, BY REGION, 2022–2030 (UNITS)
     13.5 KEY INDUSTRY INSIGHTS

14 ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE (Page No. - 180)
     14.1 INTRODUCTION
               FIGURE 60 ELECTRIC VAN SEGMENT TO BE LARGEST MARKET, BY VEHICLE TYPE, 2022–2030 (UNITS)
               TABLE 106 ELECTRIC COMMERCIAL VEHICLE MARKET SIZE, BY VEHICLE TYPE, 2018–2021 (UNITS)
               TABLE 107 ELECTRIC COMMERCIAL VEHICLE 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. - 190)
     15.1 INTRODUCTION
               FIGURE 61 HIGHER ADOPTION OF ELECTRIC COMMERCIAL VEHICLES FOR LAST MILE DELIVERY SERVICES TO LEAD MARKET
               TABLE 117 ELECTRIC COMMERCIAL VEHICLE MARKET, BY END-USER, 2018–2021 (UNITS)
               TABLE 118 ELECTRIC COMMERCIAL VEHICLE 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. - 196)
     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. - 201)
     17.1 INTRODUCTION
               FIGURE 63 ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2022–2030 (UNITS)
               TABLE 123 ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2018–2021 (UNITS)
               TABLE 124 ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2022–2030 (UNITS)
     17.2 ASIA PACIFIC
               FIGURE 64 ASIA PACIFIC: ELECTRIC COMMERCIAL VEHICLE MARKET SNAPSHOT
               TABLE 125 ASIA PACIFIC: ELECTRIC COMMERCIAL VEHICLE MARKET, BY COUNTRY, 2018–2021 (UNITS)
               TABLE 126 ASIA PACIFIC: ELECTRIC COMMERCIAL VEHICLE MARKET, BY COUNTRY, 2022–2030 (UNITS)
             17.2.1 CHINA
                       17.2.1.1 Electric buses to dominate Chinese market
                                   TABLE 127 CHINA ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2018–2021 (UNITS)
                                   TABLE 128 CHINA ELECTRIC COMMERCIAL VEHICLE 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 ELECTRIC COMMERCIAL VEHICLE 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 electric commercial vehicle 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 ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2018–2021 (UNITS)
                                   TABLE 132 INDIA ELECTRIC COMMERCIAL VEHICLE 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 ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2018–2021 (UNITS)
                                   TABLE 134 SOUTH KOREA ELECTRIC COMMERCIAL VEHICLE 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 ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2018–2021 (UNITS)
                                   TABLE 140 GERMANY ELECTRIC COMMERCIAL VEHICLE 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 ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2018–2021 (UNITS)
                                   TABLE 142 SPAIN ELECTRIC COMMERCIAL VEHICLE 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 ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2018–2021 (UNITS)
                                   TABLE 144 AUSTRIA ELECTRIC COMMERCIAL VEHICLE 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 ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2018–2021 (UNITS)
                                   TABLE 146 NORWAY ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2022–2030 (UNITS)
             17.3.6 SWEDEN
                       17.3.6.1 Presence of market-leading OEMs and startups to propel electric commercial vehicle market in Sweden
                                   TABLE 147 SWEDEN ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2018–2021 (UNITS)
                                   TABLE 148 SWEDEN ELECTRIC COMMERCIAL VEHICLE 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 ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2018–2021 (UNITS)
                                   TABLE 150 SWITZERLAND ELECTRIC COMMERCIAL VEHICLE 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 ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2018–2021 (UNITS)
                                   TABLE 152 NETHERLANDS ELECTRIC COMMERCIAL VEHICLE 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 ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2018–2021 (UNITS)
                                   TABLE 154 BELGIUM ELECTRIC COMMERCIAL VEHICLE 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 ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2018–2021 (UNITS)
                                     TABLE 156 UK ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2022–2030 (UNITS)
             17.3.11 ITALY
                         17.3.11.1 Government incentives to generate higher demand for electric commercial vehicle market in Italy
                                     TABLE 157 ITALY ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2018–2021 (UNITS)
                                     TABLE 158 ITALY ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2022–2030 (UNITS)
             17.3.12 DENMARK
                         17.3.12.1 Favorable government regulations to expand electric commercial vehicle market in Denmark
                                     TABLE 159 DENMARK ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2018–2021 (UNITS)
                                     TABLE 160 DENMARK ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2022–2030 (UNITS)
             17.3.13 PORTUGAL
                         17.3.13.1 Electric vans sales to lead electric commercial vehicle market in Portugal
                                     TABLE 161 PORTUGAL ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2018–2021 (UNITS)
                                     TABLE 162 PORTUGAL ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2022–2030 (UNITS)
             17.3.14 IRELAND
                         17.3.14.1 Favorable policies to support growth of electric commercial vehicle market
                                     TABLE 163 IRELAND ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2018–2021 (UNITS)
                                     TABLE 164 IRELAND ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2022–2030 (UNITS)
     17.4 NORTH AMERICA
               FIGURE 71 NORTH AMERICA EV BATTERY INITIATIVES
               FIGURE 72 NORTH AMERICA: ELECTRIC COMMERCIAL VEHICLE MARKET SNAPSHOT
               TABLE 165 NORTH AMERICA: ELECTRIC COMMERCIAL VEHICLE MARKET, BY COUNTRY, 2018–2021 (UNITS)
               TABLE 166 NORTH AMERICA: ELECTRIC COMMERCIAL VEHICLE MARKET, BY COUNTRY, 2022–2030 (UNITS)
             17.4.1 US
                       17.4.1.1 Electric pick-up truck segment to accelerate electric commercial vehicle market in US
                                   TABLE 167 US ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2018–2021 (UNITS)
                                   TABLE 168 US ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2022–2030 (UNITS)
             17.4.2 CANADA
                       17.4.2.1 Electric pickup truck segment to dominate electric commercial vehicle market in Canada
                                   TABLE 169 CANADA ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2018–2021 (UNITS)
                                   TABLE 170 CANADA ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2022–2030 (UNITS)

18 COMPETITIVE LANDSCAPE (Page No. - 242)
     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 ELECTRIC COMMERCIAL VEHICLE MARKET
             18.5.1 STARS
             18.5.2 EMERGING LEADERS
             18.5.3 PERVASIVE
             18.5.4 EMERGING COMPANIES
                       FIGURE 75 ELECTRIC COMMERCIAL VEHICLE MARKET: COMPANY EVALUATION QUADRANT, 2021
                       TABLE 175 ELECTRIC COMMERCIAL VEHICLE MARKET: COMPANY FOOTPRINT, 2022
                       TABLE 176 ELECTRIC COMMERCIAL VEHICLE MARKET: PRODUCT FOOTPRINT, 2021
                       TABLE 177 ELECTRIC COMMERCIAL VEHICLE 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 ELECTRIC COMMERCIAL VEHICLE MARKET: COMPETITIVE LEADERSHIP MAPPING SME, 2021
                       TABLE 178 ELECTRIC COMMERCIAL VEHICLE MARKET: DETAILED LIST OF KEY STARTUPS/SMES
                       TABLE 179 ELECTRIC COMMERCIAL VEHICLE 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. - 257)
     19.1 KEY PLAYERS
(Business Overview, Products Offered, Recent Developments, and MnM View)*
             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
* Business Overview, Products Offered, Recent Developments, and 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.Ş
             19.2.17 TEMSA
             19.2.18 KARSAN
             19.2.19 ZENITH MOTORS
             19.2.20 WORKHORSE GROUP

20 RECOMMENDATIONS BY MARKETSANDMARKETS (Page No. - 325)
     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. - 327)
     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.

Electric Commercial Vehicle Market Size, and Share

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 electric commercial vehicle 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 electric commercial vehicle 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)
  • Electric Commercial Vehicle Market, By Battery Type, at the Country Level (For countries covered in the report)
  • Electric Commercial Vehicle Market, By Battery Capacity, at the Country Level (For countries covered in the report)
  • Electric Commercial Vehicle Market, By Power Output, at the Country Level (For countries covered in the report)

Company Information

  • Profiling of Additional Market Players (Up to 5)
Report Code
AT 6196
Published ON
May, 2022
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