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
[173 Pages Report] The Global Electric Commercial Vehicle Market size is projected to reach 1,890 thousand units by 2027 from an estimated 261 thousand units in 2019, growing at a CAGR of 32.7%. Increasing focus on promoting electrification of public transport fleets and increasing demand for zero emission vehicles in the logistics sector will create opportunities for OEMs to expand their revenue stream and geographical presence.
Asia Pacific is projected to experience steady growth owing to the high demand for electric buses in public transport fleets. Europe is projected to be the fastest-growing market due to the high adoption rate of electric vans in the logistics sector in the region. Factors such as rise in pollution and environmental hazards, stringent government regulations, and stiff competition have compelled automotive OEMs to make fuel-efficient and environment-friendly vehicles. In this pursuit, automotive OEMs and component manufacturers are exploring ways to develop and design commercial vehicles that can meet the standards of fuel efficiency as well as vehicle emission.
MnM was able to help a leading vehicle manufacturer in Europe tap into the light commercial vehicle body market for Europe, the Middle East, and the North African region
Client’s Problem Statement
A global vehicle body manufacturer engaged MarketsandMarkets (MnM) for a custom study on the light commercial vehicle body market
The purchaser of the report requested for:
. The forecast of the overall market (market size from 2018–2027) for all the major segments covered in the study
. Insights on the material used by light commercial body manufacturers
. Further segmentation of the global light commercial vehicle body market by tipper, float, and box bodies
. A list of the top 10 light commercial vehicle body manufacturers in the European, Middle Eastern, and North African regions, along with key details such as financial snapshots, key strategies, and product portfolio 
MnM Approach
Methodology Adopted by MnM
. The research team at MnM that undertook this study collected information via secondary research and primary interviews with industry experts
. The forecast of the overall market was undertaken after carefully considering factors such as the lightweight materials used for manufacturing bodies and the demand for tippers, floats, and box bodies in a particular region
. The size of the light commercial vehicle body market was derived after taking into consideration the overall vehicle body demand in the logistics, construction, and food & beverage industries in the European, Middle Eastern, and North African regions and forecast with data points gathered from secondary and primary research.
. The top 10 vehicle body manufacturers were identified using paid databases such as Marklines and other secondary sources.
Revenue Impact (RI)
After going through the detailed analysis developed by MnM, the client was able to assist its customers in targeting innovative areas and regions of primary importance. From a commercial perspective, MnM’s analysis enabled them to identify strong market potential. With the help of the data provided by MarketsandMarkets, the client will be able to earn additional revenue of ~USD 10 million in the next couple of years from the European, Middle Eastern, and North African regions.
Electric van segment is estimated to be the fastest-growing market during the forecast period
The electric van segment is expected to be the fastest growing market as there is a high demand for electric vans from the logistics sector, especially in the European region. The growth of the logistics and e-commerce sectors is expected to drive the market for electric vans during the forecast period.
The usage of electric vans in the logistics sector would minimize the cost of transportation. Many leading logistics companies in Europe and North America have started using electric vans for shipping and delivery purposes. For instance, DHL, one of the leading logistics companies in the world, is using electric vans in some parts of the European region.
The European electric commercial vehicle market is expected to register the fastest growth during the forecast period
Europe is projected to be the fastest-growing market for electric commercial vehicles during the forecast period. The increasing demand for electric vans in the logistics sector and the focus on the electrification of public transport fleet are driving the electric commercial vehicle market in Europe. The region is a hub to major players such as AB Volvo (Sweden), VDL Bus and Coach (Netherlands), Daimler (Germany), CAF (Spain), EBUSCO (Netherlands), Scania (Sweden), and Emoss Mobile Systems (Netherlands). Europe is a key region for innovations; significant R&D; and technological advancements in electric vehicles, battery technologies, and charging solutions.
France is the largest market in Europe, followed by Germany. France, which is one of the largest automotive hubs in the European region, is home to many established OEMs providing electric vehicles and also has a higher adoption rate for electric commercial vehicles.
Asia Pacific is expected to be the largest market during the forecast period
Asia Pacific was the largest electric commercial vehicle market in the world in 2018. It comprises some of the fastest developing and developed economies in the world, such as China, India, and Japan. The market growth in the region can be attributed to the dominance of Chinese market in the electric bus segment and the presence of market leading OEMs in the country. China’s dominance has resulted in the exponential growth of electric commercial vehicle market in Asia Pacific. The large demand for electric buses, favorable regulations for electric commercial vehicles, and the rapidly growing logistics sector are expected to boost the electric commercial vehicle market in the region.
Key Market Players
The global electric commercial vehicle market is dominated by major players such as BYD (China), Yutong (China), Proterra (US), VDL Groep (Netherlands), and AB Volvo (Sweden). These companies have strong distribution networks at a global level. In addition, these companies offer an extensive product range in this market. These companies have adopted strategies such as new product developments, collaborations, and contracts & agreements to sustain their market position.
Scope of the Report
|
Report Metric |
Details |
|
Market size available for years |
2017–2027 |
|
Base year considered |
2018 |
|
Forecast period |
2020–2027 |
|
Forecast units |
Volume (Units) |
|
Segments covered |
Vehicle Type, Propulsion Type, Battery Type, Battery Capacity, Power Output, Range, Length of Bus, Component, Autonomous Vehicles, and Region |
|
Geographies covered |
Asia Pacific, Europe, and North America |
|
Companies Covered |
BYD (China), Yutong (China), Proterra (US), VDL Groep (Netherlands), and AB Volvo (Sweden). |
This research report categorizes the given market based on Vehicle Type, Propulsion Type, Battery Type, Battery Capacity, Power Output, Range, Length of Bus, Component, Autonomous Vehicles, and Region.
Based on Propulsion Type:
- BEV
- PHEV
- FCEV
Based on Vehicle Type:
- Electric Bus
- Electric Truck
- Electric Pick-up Truck
- Electric Van
Based on the Battery Type:
- Lithium-iron-phosphate (LFP)
- Lithium-nickel-manganese-cobalt oxide (NMC)
- Others
Based on Battery Capacity:
- less than 50 kWh
- 50−250 kWh
- above 250 kWh
Based on Power Output:
- less than 100 KW,
- 100−250 KW
- Above 250 KW
Based on the length of bus type:
- less than 9m
- 9−14m
- Above 14m
Based on Range:
- less than 150 Miles
- 150-300 Miles
- Above 300 Miles
Based on component (Qualitative):
- Electric Motor
- EV Battery
- Hydrogen Fuel Cell
Based on autonomous vehicles (Qualitative):
- Electric Autonomous Truck
- Electric Autonomous Bus
Based on Region:
- Asia Pacific
- China
- India
- Japan
- South Korea
- North America
- US
- Canada
- Europe
- Austria
- Belgium
- France
- Germany
- The Netherlands
- Norway
- Spain
- Sweden
- Switzerland
- United Kingdom
Critical Aspects:
- Governments are working with OEMs to electrify public transport fleets and build charging stations. How will this transform the overall electric commercial vehicle market?
- How will fast-paced developments in battery technologies change the dynamics of this market?
- The industry is focusing on different powertrain technologies. Which are the leading companies working on it, and what organic and inorganic strategies have been adopted by them?
- The fuel cell commercial vehicle segment is expected to have a significant market during the forecast. How will this transform the overall electric commercial vehicle market?
- Analysis of your competition, including major players in this market and ecosystem. The major players are NFI Group (Canada), King Long United Automotive (China), CAF (Spain), and Ankai (China), among others.
Frequently Asked Questions (FAQ):
What is the market size of the global electric commercial vehicle market?
What are the key drivers for this market?
Which vehicle type has the fastest market?
Which is the largest and fastest growing market for electric commercial vehicle ?
Who are the top players in the electric commercial vehicle?
What is the role of government norms in this market?
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
Table of Contents
1 Introduction (Page No. - 20)
1.1 Objectives of the Study
1.2 Market Definition
1.2.1 Inclusions & Exclusions
1.3 Market Scope
1.3.1 Years Considered for Study
1.4 Package Size
1.5 Stakeholders
2 Research Methodology (Page No. - 24)
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Secondary Sources for Electric Commercial Vehicle Sales
2.1.1.2 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Sampling Techniques & Data Collection Methods
2.1.3 Primary Participants
2.2 Market Size Estimation
2.3 Market Breakdown and Data Triangulation
2.4 Assumptions & Associated Risks
3 Executive Summary (Page No. - 32)
4 Premium Insights (Page No. - 36)
4.1 Attractive Opportunities in the Electric Commercial Vehicle Market
4.2 Electric Commercial Vehicle Market Growth Rate, By Region
4.3 Electric Commercial Vehicle Market, By Vehicle Type
4.4 Electric Commercial Vehicle Market, By Propulsion
4.5 Electric Commercial Vehicle Market, By Range
4.6 Electric Commercial Vehicle Market, By Length of Bus
4.7 Electric Commercial Vehicle Market, By Battery Type
4.8 Electric Commercial Vehicle Market, By Battery Capacity Type
4.9 Electric Commercial Vehicle Market, By Power Output Type
5 Market Overview (Page No. - 41)
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Demand for Emission-Free Commercial Vehicles and Rising Adoption of Electric Vehicles in the Logistics Industry
5.2.2 Restraints
5.2.2.1 High Development Cost
5.2.3 Opportunities
5.2.3.1 Government Support for Electric Commercial Vehicles
5.2.3.2 New Revenue Pockets in Asia Pacific and Northern Europe
5.2.4 Challenges
5.2.4.1 Limited Battery Capacity
5.2.4.2 Lack of Charging Infrastructure
5.3 Electric Commercial Vehicle Market, Scenarios (2018–2027)
5.3.1 Electric Commercial Vehicle Market, Most Likely Scenario
5.3.2 Electric Commercial Vehicle Market, Optimistic Scenario
5.3.3 Electric Commercial Vehicle Market, Pessimistic Scenario
5.4 Revenue Shift and Hot Bets in the Electric Commercial Vehicle Market
6 Industry Trends (Page No. - 51)
6.1 Introduction
6.2 Robo-Taxi
6.3 High Voltage Battery
6.4 Smart Electric Drive
6.5 Technology Analysis
6.6 Innovative Charging Solutions
6.6.1 Off-Board Top-Down Pantograph Charging System
6.6.2 On-Board Bottom-Up-Pantograph Charging System
6.7 Ground-Based Static Charging System
6.8 Porter’s Five Forces Model Analysis
7 Electric Commercial Vehicle Market, By Component (Page No. - 54)
7.1 Introduction
7.2 Electric Motor
7.3 EV Battery
7.4 Hydrogen Fuel Cell Stack
8 Electric Commercial Vehicle Market, By Autonomous Vehicles (Page No. - 56)
8.1 Introduction
8.2 Electric Autonomous Truck
8.3 Electric Autonomous Bus
9 Electric Commercial Vehicle Market, By Battery Type (Page No. - 58)
9.1 Introduction
9.2 Operational Data
9.2.1 Assumptions
9.2.2 Research Methodology
9.3 Lithium-Nickel-Manganese-Cobalt Oxide
9.3.1 Battery Technology Advancements to Boost the NMC Battery Segment
9.4 Lithium-Iron-Phosphate
9.4.1 Reducing Prices of Batteries to Drive the Market
9.5 Others
9.5.1 Oems’ Focus on Battery R&D to Boost the Market
9.6 Key Industry Insights
10 Electric Commercial Vehicle Market, By Battery Capacity (Page No. - 64)
10.1 Introduction
10.2 Operational Data
10.2.1 Assumptions
10.2.2 Research Methodology
10.3 Less Than 50 kWh
10.3.1 High Adoption Rate of Electric Vans to Boost the Less Than 50 kWh Segment
10.4 50-250 kWh
10.4.1 Oems Offering Affordable Electric Buses and Pick-Up Trucks in Asia Pacific Expected to Drive the 50-250 kWh Market
10.5 Above 250 kWh
10.5.1 Chinese Electric Bus Fleet is Dominated By Buses With More Than 250 kWh Battery Capacity
10.6 Key Industry Insights
11 Electric Commercial Vehicle Market, By Length of Bus (Page No. - 69)
11.1 Introduction
11.2 Operational Data
11.2.1 Assumptions
11.2.2 Research Methodology
11.3 Less Than 9 M
11.3.1 Mini Buses are Quite Useful on Compact Roads
11.4 9-14 M
11.4.1 High Adoption Rate of Electric Buses as Public Transport Fleet is Driving the Segment
11.5 Above 14 M
11.5.1 Increasing Number of Daily Commuters in Asia Pacific to Drive the Above 14m Segment
11.6 Key Industry Insights
12 Electric Commercial Vehicle Market, By Power Output (Page No. - 74)
12.1 Introduction
12.2 Operational Data
12.2.1 Assumptions
12.2.2 Research Methodology
12.3 Less Than 100 Kw
12.3.1 Logistics Companies in Europe are Using Small Electric Vans for Shipping
12.4 100-250 Kw
12.4.1 Start-Ups are Developing Entry-Level Electric Pick-Up Trucks in North America
12.5 Above 250 Kw
12.5.1 Increasing Demand for Electric Trucks With High Power Output to Drive the Market
12.6 Key Industry Insights
13 Electric Commercial Vehicle Market, By Propulsion Type (Page No. - 79)
13.1 Introduction
13.2 Operational Data
13.2.1 Assumptions
13.2.2 Research Methodology
13.3 BEV
13.3.1 BEV Segment to Dominate the Asia Pacific Region
13.4 FCEV
13.4.1 FCEV Buses are Already in Operation in Asia Pacific Region
13.5 PHEV
13.5.1 Asia Pacific Region is Projected to Dominate the PHEV Segment
13.6 Key Industry Insights
14 Electric Commercial Vehicle Market, By Range (Page No. - 84)
14.1 Introduction
14.2 Operational Data
14.2.1 Assumptions
14.2.2 Research Methodology
14.3 Less Than 150 Miles
14.3.1 Affordable Electric Vans to Drive the Less Than 150 Miles Segment
14.4 150-300 Miles
14.4.1 High Adoption Rate of Electric Buses to Boost the Market
14.5 Above 300 Miles
14.5.1 Advancements in Battery Technologies Would Drive the Above 300 Miles Segment Market
14.6 Key Industry Insights
15 Electric Commercial Vehicle Market, By Vehicle Type (Page No. - 89)
15.1 Introduction
15.2 Operational Data
15.2.1 Assumptions
15.2.2 Research Methodology
15.3 Electric Bus
15.3.1 Presence of Major Oems in Asia Pacific Will Boost the Demand
15.4 Electric Pick-Up Truck
15.4.1 Asia Pacific to Lead the Electric Pick-Up Truck Market in the Forecast Period
15.5 Electric Truck
15.5.1 Advancements in Battery Technology to Boost the Electric Truck Market
15.6 Electric Van
15.6.1 Increasing Demand From Logistics Sector Will Drive the Electric Van Market
15.7 Key Industry Insights
16 Electric Commercial Vehicle Market, By Region (Page No. - 95)
16.1 Introduction
16.2 Asia Pacific to Lead the Electric Commercial Vehicle Market in the Forecast Period
16.3 Asia Pacific
16.3.1 China
16.3.1.1 Electric Buses to Dominate the Chinese Market
16.3.2 Japan
16.3.2.1 Japan has Many Renowned Oems Providing Advanced Electric Vans
16.3.3 India
16.3.3.1 India to Witness Rapid Growth in Electric Commercial Vehicle Market
16.3.4 South Korea
16.3.4.1 South Korea Started Focusing on Electrifying Public Transport
16.4 Europe
16.4.1 France
16.4.1.1 French Market is Dominated By Electric Van Segment
16.4.2 Germany
16.4.2.1 Five German Cities to Electrify Their Public Transport Fleet Thus Boosting the Electric Bus Segment in the Country
16.4.3 Spain
16.4.3.1 Spanish Government’s Focus Towards Replacing the Existing Transport Fleet is Expected to Positively Impact the Electric Bus Segment
16.4.4 Austria
16.4.4.1 Electric Van Segment to Lead the Austrian Market
16.4.5 Norway
16.4.5.1 Advanced and Efficient Electric Vans to Replace Conventional Logistics Means
16.4.6 Sweden
16.4.6.1 Presence of Market Leading Oems to Boost the Swedish Electric Commercial Vehicle Market
16.4.7 Switzerland
16.4.7.1 Favorable Government Regulations to Help Swiss Electric Commercial Vehicle Market Grow
16.4.8 The Netherlands
16.4.8.1 Presence of Oems to Play an Important Role in the Netherlands Electric Commercial Vehicle Market
16.4.9 Belgium
16.4.9.1 Higher Adoption Rate to Benefit the Belgium Electric Commercial Vehicle Market
16.4.10 UK
16.4.10.1 Favorable Regulations for Emission-Free Buses to Help the UK Electric Commercial Vehicle Market Grow
16.5 North America
16.5.1 US
16.5.1.1 Electric Pick-Up Segment to Lead the US Electric Commercial Vehicle Market
16.5.2 Canada
16.5.2.1 Electric Truck Segment to Dominate the Canadian Electric Commercial Vehicle Market
16.6 Market Leaders
17 Competitive Landscape (Page No. - 119)
17.1 Overview
17.2 Market Ranking Analysis
17.3 Competitive Scenario
17.3.1 New Product Developments
17.3.2 Mergers & Acquisitions
17.3.3 Partnerships/Supply Contracts/Collaborations/ Joint Ventures/License Agreements
17.3.4 Expansions
17.4 Competitive Leadership Mapping
17.4.1 Visionary Leaders
17.4.2 Innovators
17.4.3 Dynamic Differentiators
17.4.4 Emerging Companies
17.5 SME Competitive Leadership Mapping
17.5.1 Progressive Company
17.5.2 Responsive Companies
17.5.3 Dynamic Companies
17.5.4 Starting Blocks
17.6 Winners vs. Tail-Enders
18 Company Profiles (Page No. - 128)
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View)*
18.1 BYD
18.2 Yutong
18.3 Proterra
18.4 VDL Groep
18.5 AB Volvo
18.6 Daimler AG
18.7 NFI Group
18.8 CAF
18.9 Ebusco Bv
18.10 King Long
18.11 Ankai
18.12 Zhongtong Bus Holding
*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.
18.13 Other Key Players
18.13.1 North America
18.13.1.1 Blue Bird Corporation
18.13.1.2 Rivian
18.13.1.3 Zenith Motors
18.13.1.4 Chanje Energy
18.13.1.5 Bollinger Motors
18.13.1.6 Workhorse Group
18.13.1.7 Nikola Motor Company
18.13.1.8 Xos Trucks
18.13.1.9 Atlis Motor Vehicles
18.13.2 Asia
18.13.2.1 Tata Motors
18.13.2.2 Ashok Leyland
18.13.2.3 Changsha Sunda New Energy Technology Co., Ltd
18.13.2.4 Kaiyun Motors
18.13.2.5 Infraprimelogistics Technologies Pvt. Ltd. (Iplt)
18.13.3 Europe
18.13.3.1 Scania
18.13.3.2 Irizar
18.13.3.3 Emoss Mobile Systems
18.13.3.4 Arrival
19 Recommendations By Marketsandmarkets (Page No. - 166)
19.1 Asia Pacific Will Be the Major Market for Electric Commercial Vehicles
19.2 Electric Van Can Be A Key Focus for Manufacturers
19.3 Conclusion
20 Appendix (Page No. - 167)
20.1 Key Insights of Industry Experts
20.2 Currency
20.3 Discussion Guide
20.4 Knowledge Store: Marketsandmarkets’ Subscription Portal
20.5 Available Customizations
20.6 Related Reports
20.7 Author Details
List of Tables (137 Tables)
Table 1 Market Definition
Table 2 Inclusions
Table 3 Government Programs for the Promotion of Electric Commercial Vehicle Sales
Table 4 Battery Capacities of Popular Electric Buses
Table 5 Electric Commercial Vehicle Market (Most Likely), By Region, 2019–2027 (Units)
Table 6 Electric Commercial Vehicle Market (Optimistic), By Region, 2017–2027 (Units)
Table 7 Electric Commercial Vehicle Market (Pessimistic), By Region, 2017–2027 (Units)
Table 8 Electric Commercial Vehicle Market Size, By Battery Type, 2017–2027 (Units)
Table 9 Electric Commercial Vehicle Data Based on Battery Type
Table 10 Lithium-Nickel-Manganese-Cobalt Oxide: Electric Commercial Vehicle Market, By Region, 2017–2027 (Units)
Table 11 Lithium-Iron-Phosphate: Electric Commercial Vehicle Market, By Region, 2017–2027 (Units)
Table 12 Others: Electric Commercial Vehicle Market, By Region, 2017–2027 (Units)
Table 13 Electric Commercial Vehicle Market Size, By Battery Capacity, 2017–2027 (Units)
Table 14 Electric Commercial Vehicle Data Based on Battery Capacity
Table 15 Less Than 50 kWh: Electric Commercial Vehicle Market, By Region, 2017–2027 (Units)
Table 16 50-250 kWh: Electric Commercial Vehicle Market, By Region, 2017–2027 (Units)
Table 17 Above 250 kWh: Electric Commercial Vehicle Market, By Region, 2017–2027 (Units)
Table 18 Electric Commercial Vehicle Market Size, By Length of Bus, 2017–2027 (Units)
Table 19 Electric Commercial Vehicle Data Based on Length of Bus
Table 20 Less Than 9 M: Electric Commercial Vehicle Market, By Region, 2017–2027 (Units)
Table 21 9-14 M: Electric Commercial Vehicle Market, By Region, 2017–2027 (Units)
Table 22 Above 14 M: Electric Commercial Vehicle Market, By Region, 2017–2027 (Units)
Table 23 Electric Commercial Vehicle Market Size, By Power Output, 2017–2027 (Units)
Table 24 Electric Commercial Vehicle Data Based on Power Output
Table 25 Less Than 100 Kw: Electric Commercial Vehicle Market, By Region, 2017–2027 (Units)
Table 26 100-250 Kw: Electric Commercial Vehicle Market, By Region, 2017–2027 (Units)
Table 27 Above 250 Kw: Electric Commercial Vehicle Market, By Region, 2017–2027 (Units)
Table 28 Electric Commercial Vehicle Market Size, By Propulsion Type, 2017–2027 (Units)
Table 29 Electric Commercial Vehicle Data Based on Propulsion Type
Table 30 BEV: Electric Commercial Vehicle Market, By Region, 2017–2027 (Units)
Table 31 FCEV: Electric Commercial Vehicle Market, By Region, 2017–2027 (Units)
Table 32 PHEV: Electric Commercial Vehicle Market, By Region, 2017–2027 (Units)
Table 33 Electric Commercial Vehicle Market Size, By Range, 2017–2027 (Units)
Table 34 Electric Commercial Vehicle Data Based on Range
Table 35 Less Than 150 Miles: Electric Commercial Vehicle Market, By Region, 2017–2027 (Units)
Table 36 150-300 Miles: Electric Commercial Vehicle Market, By Region, 2017–2027 (Units)
Table 37 Above 300 Miles: Electric Commercial Vehicle Market, By Region, 2017–2027 (Units)
Table 38 Electric Commercial Vehicle Market, By Vehicle Type, 2017–2027 (Units)
Table 39 Electric Commercial Vehicle Data Based on Vehicle Type
Table 40 Electric Bus: Electric Commercial Vehicle Market, By Region, 2017–2027 (Units)
Table 41 Electric Pick-Up Truck: Electric Commercial Vehicle Market, By Region, 2017–2027 (Units)
Table 42 Electric Truck: Electric Commercial Vehicle Market, By Region, 2017–2027 (Units)
Table 43 Electric Van: Electric Commercial Vehicle Market, By Region, 2017–2027 (Units)
Table 44 Electric Commercial Vehicle Market, By Region, 2017–2027 (Units)
Table 45 Asia Pacific: Electric Commercial Vehicle Market, By Country, 2017–2027 (Units)
Table 46 China: Key Government Policy Measures and Targets to Advance Deployment of Electric Heavy-Duty Vehicles
Table 47 China: Electric Commercial Vehicle Market, By Vehicle Type, 2017–2027 (Units)
Table 48 Japan: Key Government Policy Measures and Targets to Advance Deployment of Electric Heavy-Duty Vehicles
Table 49 Japan: Electric Commercial Vehicle Market, By Vehicle Type, 2017–2027 (Units)
Table 50 India: Key Government Policy Measures and Targets to Advance Deployment of Electric Heavy-Duty Vehicles
Table 51 India: Electric Commercial Vehicle Market, By Vehicle Type, 2017–2027 (Units)
Table 52 South Korea: Key Government Policy Measures and Targets to Advance Deployment of Electric Heavy-Duty Vehicles
Table 53 South Korea: Electric Commercial Vehicle Market, By Vehicle Type, 2017–2027 (Units)
Table 54 Key EV Policy Measures and Targets for European Union
Table 55 Europe: Electric Commercial Vehicle Market, By Country, 2017–2027 (Units)
Table 56 Key EV Policy Measures and Targets for France
Table 57 France: Electric Commercial Vehicle Market, By Vehicle Type, 2017–2027 (Units)
Table 58 Key EV Policy Measures and Targets for Germany
Table 59 Germany: Electric Commercial Vehicle Market, By Vehicle Type, 2017–2027 (Units)
Table 60 Key EV Policy Measures and Targets for Spain
Table 61 Spain: Electric Commercial Vehicle Market, By Vehicle Type, 2017–2027 (Units)
Table 62 Key EV Policy Measures and Targets for Austria
Table 63 Austria: Electric Commercial Vehicle Market, By Vehicle Type, 2017–2027 (Units)
Table 64 Key EV Policy Measures and Targets for Norway
Table 65 Norway: Electric Commercial Vehicle Market, By Vehicle Type, 2017–2027 (Units)
Table 66 Key EV Policy Measures and Targets for Sweden
Table 67 Sweden: Electric Commercial Vehicle Market, By Vehicle Type, 2017–2027 (Units)
Table 68 Key EV Policy Measures and Targets for Switzerland
Table 69 Switzerland: Electric Commercial Vehicle Market, By Vehicle Type, 2017–2027 (Units)
Table 70 Key EV Policy Measures and Targets for the Netherlands
Table 71 The Netherlands: Electric Commercial Vehicle Market, By Vehicle Type, 2017–2027 (Units)
Table 72 Key EV Policy Measures and Targets for Belgium
Table 73 Belgium: Electric Commercial Vehicle Market, By Vehicle Type, 2017–2027 (Units)
Table 74 Key EV Policy Measures and Targets for UK
Table 75 UK: Electric Commercial Vehicle Market, By Vehicle Type, 2017–2027 (Units)
Table 76 North America: Electric Commercial Vehicle Market, By Country, 2017–2027 (Units)
Table 77 Key EV Policy Measures and Targets for US
Table 78 US: Electric Commercial Vehicle Market, By Vehicle Type, 2017–2027 (Units)
Table 79 Key EV Policy Measures and Targets for Canada
Table 80 Canada: Electric Commercial Vehicle Market, By Vehicle Type, 2017–2027 (Units)
Table 81 Recent Development
Table 82 New Product Developments, 2017–2019
Table 83 Mergers & Acquisitions, 2017–2019
Table 84 Partnerships/Supply Contracts/Collaborations/Joint Ventures/ Agreements, 2017–2019
Table 85 Expansions, 2017–2019
Table 86 Winners vs. Tail-Enders
Table 87 BYD: Products Offered
Table 88 BYD: New Product Developments
Table 89 BYD: Expansions
Table 90 BYD: Partnerships/Collaborations/Joint Ventures/Supply Contracts/ Agreements/Mergers & Acquisitions
Table 91 BYD Total Sales, 2015-2018 (USD Billion)
Table 92 BYD Net Profit, 2015-2018 (USD Million)
Table 93 Yutong: Products Offered
Table 94 Yutong: New Product Developments
Table 95 Yutong: Expansion
Table 96 Yutong: Partnerships/ Collaborations/Joint Ventures/Supply Contracts/ Agreements/Mergers & Acquisitions
Table 97 Proterra: Products Offered
Table 98 Proterra: New Product Developments
Table 99 Proterra: Expansion
Table 100 Proterra: Partnerships/Collaborations/Joint Ventures/Supply Contracts/ Agreements/Mergers & Acquisitions
Table 101 Product Offerings
Table 102 VDL Groep: New Product Developments
Table 103 VDL Groep: Expansion
Table 104 VDL Groep: Partnerships/Collaborations/Joint Ventures/Supply Contracts/ Agreements/Mergers & Acquisitions
Table 105 VDL Groep: Total Sales, 2015-2018 (USD Billion)
Table 106 VDL Groep: Net Profit, 2015-2018 (USD Million)
Table 107 AB Volvo: Products Offered
Table 108 AB Volvo: New Product Developments
Table 109 AB Volvo: Expansions
Table 110 AB Volvo: Partnerships/Collaborations/Joint Ventures/Supply Contracts/ Agreements/Mergers & Acquisitions
Table 111 AB Volvo: Total Sales, 2015-2018 (USD Billion)
Table 112 Daimler: Products Offered
Table 113 Daimler: New Product Developments
Table 114 Daimler- Expansion
Table 115 Daimler: Partnerships/Collaborations/Joint Ventures/Supply Contracts/ Agreements/Mergers & Acquisitions
Table 116 Daimler: Total Sales, 2015-2018 (USD Billion)
Table 117 Daimler: Net Profit, 2015-2018 (USD Billion)
Table 118 NFI Group: Products Offered
Table 119 NFI Group: New Product Developments
Table 120 NFI Group: Expansion
Table 121 NFI Group: Partnerships/Collaborations/Joint Ventures/Supply Contracts/ Agreements/Mergers & Acquisitions
Table 122 CAF: Product Offerings
Table 123 CAF: New Product Developments
Table 124 CAF: Expansion
Table 125 CAF: Partnerships/Collaborations/Joint Ventures/Contracts & Agreements/Mergers & Acquisitions
Table 126 Ebusco Bv: Products Offered
Table 127 Ebusco Bv: New Product Developments
Table 128 Ebusco Bv: Partnerships/Collaborations/Joint Ventures/Supply Contracts/Agreements/Mergers & Acquisitions
Table 129 King Long: Products Offered
Table 130 King Long: New Product Developments
Table 131 King Long: Expansion
Table 132 King Long: Partnerships/Collaborations/Joint Ventures/Supply Contracts/ Agreements/Mergers & Acquisitions
Table 133 Ankai: Products Offered
Table 134 Ankai: Expansion
Table 135 Zhongtong Bus Holding: Product Offering
Table 136 Zhongtong Bus Holding: Expansion
Table 137 Currency Exchange Rates (W.R.T. USD)
List of Figures (53 Figures)
Figure 1 Market Segmentation: Electric Commercial Vehicle Market
Figure 2 Electric Commercial Vehicle Market: Research Design
Figure 3 Research Design Model
Figure 4 Breakdown of Primary Interviews
Figure 5 Bottom-Up Approach: Electric Commercial Vehicle Market
Figure 6 Data Triangulation
Figure 7 Electric Commercial Vehicle Market: Market Dynamics
Figure 8 Electric Commercial Vehicle Market, By Region, 2020–2027
Figure 9 Electric Commercial Vehicle Market, By Vehicle Type, 2020 vs 2027
Figure 10 Increasing Demand for Fuel-Efficient and Emission-Free Vehicles is Expected to Boost the Growth of Electric Commercial Vehicle Market From 2020 to 2027
Figure 11 Europe is Estimated to Be the Fastest Growing Electric Commercial Vehicle Market From 2020 to 2027
Figure 12 Bus is Estimated to Be the Largest Segment of Electric Commercial Vehicle Market (Units)
Figure 13 BEV is Expected to Be the Largest Segment of Electric Commercial Vehicle Market (Units)
Figure 14 150-300 Miles is Expected to Be the Largest Segment in Electric Commercial Vehicle Market, 2020 vs 2027 (Units)
Figure 15 9-14 M is Expected to Be the Largest Segment in Electric Commercial Vehicle Market, 2020 vs 2027 (Units)
Figure 16 Lithium-Nickel-Manganese-Cobalt Oxide is Expected to Be the Largest Segment in Electric Commercial Vehicle Market, 2020 vs 2027 (Units)
Figure 17 Above 250 kWh is Expected to Be the Largest Segment in Electric Commercial Vehicle Market, 2020 vs 2027 (Units)
Figure 18 Above 250 kWh is Expected to Be the Largest Segment in Electric Commercial Vehicle Market, 2020 vs 2027 (Units)
Figure 19 Electric Commercial Vehicle Market: Market Dynamics
Figure 20 Global Fuel Economy and Co2 Emission Data (2016–2025)
Figure 21 Decline in Battery Price/kWh, 2010–2018
Figure 22 Average Cost of Diesel Bus vs Electric Bus
Figure 23 Asia Pacific is Expected to Emerge as the Best Market for Investment in the Next 5 Years
Figure 24 NMC Segment to Dominate the Electric Commercial Vehicle Market in the Forecast Period
Figure 25 Oems Focusing on Providing Low Cost Batteries With Less Capacity
Figure 26 9-14 M Segment to Dominate the Electric Commercial Vehicle Market in the Forecast Period
Figure 27 Above 250 Kw Segment to Dominate the Electric Commercial Vehicle Market in the Forecast Period
Figure 28 BEV Segment to Dominate the Electric Commercial Vehicle Market in the Forecast Period
Figure 29 Less Than 150 Miles Segment to Dominate the Electric Commercial Vehicle Market in the Forecast Period
Figure 30 Electric Van Segment to Grow at A Higher CAGR During the Forecast Period (2020–2027)
Figure 31 Electric Commercial Vehicle Market, By Region, 2020 vs. 2027 (Units)
Figure 32 Asia Pacific: Electric Commercial Vehicle Market Snapshot
Figure 33 Europe: Electric Commercial Vehicle Market, By Country, 2020 vs. 2027 (Units)
Figure 34 North America: Electric Commercial Vehicle Market Snapshot
Figure 35 Market Ranking 2018
Figure 36 Key Developments By Leading Players, 2017–2019
Figure 37 Electric Commercial Vehicle Market: Competitive Leadership Mapping, 2019
Figure 38 SME Electric Commercial Vehicle Market: Competitive Leadership Mapping, 2019
Figure 39 BYD: Company Snapshot
Figure 40 BYD: SWOT Analysis
Figure 41 Yutong: Company Snapshot
Figure 42 Yutong: SWOT Analysis
Figure 43 Proterra: SWOT Analysis
Figure 44 VDL Groep: Company Snapshot
Figure 45 VDL Groep: SWOT Analysis
Figure 46 AB Volvo: Company Snapshot
Figure 47 AB Volvo: SWOT Analysis
Figure 48 Daimler AG.: Company Snapshot
Figure 49 NFI Group: Company Snapshot
Figure 50 CAF: Company Snapshot
Figure 51 King Long: Company Snapshot
Figure 52 Ankai: Company Snapshot
Figure 53 Zhongtong Bus Holding: Company Snapshot
The study involved four major activities in estimating the current market size of the electric commercial vehicle market. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. 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 approach was 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 OEMs, Canadian Automobile Association (CAA), country-level automotive associations and trade organizations, and the US Department of Transportation (DOT)], commercial vehicles magazine articles, directories, technical handbooks, World Economic Outlook, trade 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 three major regions, namely, Asia Pacific, Europe, and North America. Approximately 30% and 70% of primary interviews have been conducted from the demand and supply side, respectively. Primary data has been collected through questionnaires, emails, LinkedIn, and telephonic interviews. In the canvassing of primaries, we have strived to cover various departments within organizations, such as sales, operations, and administration, to provide a holistic viewpoint in our report.
After interacting with industry experts, we conducted brief sessions with highly experienced independent consultants to reinforce the findings from our primaries. This, along with the in-house subject matter experts’ opinions, has led us to the findings as described in the remainder of this report. Following is the breakdown of primary respondents.
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
The top-down approach was used to estimate and validate the total market size. These methods were 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 global electric commercial vehicle market size in terms of volume
- To segment and forecast the market size by propulsion type [battery electric vehicle (BEV), plug-in hybrid electric vehicle (PHEV), and fuel cell electric vehicle (FCEV)]
- To segment and forecast the market size by vehicle type (bus, truck, pick-up trucks, and vans)
- To segment and forecast the market size by range (Less than 150 Miles, 150-300 Miles, and Above 300 Miles)
- To segment and forecast the market size by battery type [Lithium-iron-phosphate (LFP), Lithium-nickel-manganese-cobalt oxide (NMC), and Others]
- To segment and forecast the market size by length of bus (less than 9m, 9−14m, and more than 14m)
- To segment and forecast the market size by power output (less than 100 KW, 100−250 KW, and more than 250 KW)
- To segment and forecast the market size by battery capacity (less than 50 kWh, 50−250 kWh, and above 250 kWh)
- To forecast the market size with respect to key regions, namely, North America, Europe, and Asia Pacific.
- 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
Available Customizations
With the given market data, MarketsandMarkets offers customizations in line with the company’s specific needs.
- Electric Commercial Vehicle Market, By Range at country level (For countries covered in the report)
- Electric Commercial Vehicle Market, By Battery type at country level (For countries covered in the report)
- Electric Commercial Vehicle Market, By Battery capacity at country level (For countries covered in the report)
- Electric Commercial Vehicle Market, By Power Output at country level (For countries covered in the report)
Company Information
- Profiling of Additional Market Players (Up to 5)
Get in-depth analysis of the COVID-19 impact on the Electric Commercial Vehicle Market
Benchmarking the rapid strategy shifts of the Top 100 companies in the Electric Commercial Vehicle Market
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Growth opportunities and latent adjacency in Electric Commercial Vehicle Market