Electric Commercial Vehicle Market

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

Report Code: AT 6196 Nov, 2019, by marketsandmarkets.com

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.


Electric Commercial Vehicle Market

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.


Electric Commercial Vehicle Market

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).
A total of 30 major players covered

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.  

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction (Page No. - 19)
    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. - 23)
    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. - 31)

4 Premium Insights (Page No. - 35)
    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 Typea
    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. - 40)
    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. - 50)
    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. - 53)
    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. - 55)
    8.1 Introduction
    8.2 Electric Autonomous Truck
    8.3 Electric Autonomous Bus

9 Electric Commercial Vehicle Market, By Battery Type (Page No. - 57)
    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. - 63)
     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. - 68)
     11.1 Introduction
     11.2 Operational Data
             11.2.1 Assumptions
             11.2.2 Research Methodology
     11.4 Less Than 9 M
             11.4.1 Mini Buses are Quite Useful on Compact Roads
     11.5 9-14 M
             11.5.1 High Adoption Rate of Electric Buses as Public Transport Fleet is Driving the Segment
     11.6 Above 14 M
             11.6.1 Increasing Number of Daily Commuters in Asia Pacific to Drive the Above 14m Segment
     11.7 Key Industry Insights

12 Electric Commercial Vehicle Market, By Power Output (Page No. - 73)
     12.1 Introduction
     12.2 Operational Data
             12.2.1 Assumptions Power Output
             12.2.2 Research Methodology
     12.4 Less Than 100 Kw
             12.4.1 Logistics Companies in Europe are Using Small Electric Vans for Shipping
     12.5 100-250 Kw
             12.5.1 Start-Ups are Developing Entry-Level Electric Pick-Up Trucks in North America
     12.6 Above 250 Kw
             12.6.1 Increasing Demand for Electric Trucks With High Power Output to Drive the Market
     12.7 Key Industry Insights

13 Electric Commercial Vehicle Market, By Propulsion Type (Page No. - 78)
     13.1 Introduction
     13.2 Operational Data
             13.2.1 Assumptions
             13.2.2 Research Methodology
     13.4 BEV
             13.4.1 BEV Segment to Dominate the Asia Pacific Region
     13.5 Fcev
             13.5.1 Fcev Buses are Already in Operation in Asia Pacific Region
     13.6 PHEV
             13.6.1 Asia Pacific Region is Projected to Dominate the PHEV Segment
     13.7 Key Industry Insights

14 Electric Commercial Vehicle Market, By Range (Page No. - 83)
     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. - 88)
     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. - 94)
     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 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. - 118)
     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)
     18.1 BYD
             18.1.1 Business Overview
             18.1.2 Recent Developments
             18.1.3 SWOT Analysis
     18.2 Yutong
             18.2.1 Business Overview
             18.2.2 Recent Developments
             18.2.3 SWOT Analysis
     18.3 Proterra
             18.3.1 Business Overview
             18.3.2 Recent Developments
             18.3.3 SWOT Analysis
     18.4 VDL Groep
             18.4.1 Business Overview
             18.4.2 Recent Developments
             18.4.3 SWOT Analysis
     18.5 AB Volvo
             18.5.1 Business Overview
             18.5.2 Recent Developments
             18.5.3 SWOT Analysis
     18.6 Daimler AG
             18.6.1 Business Overview
             18.6.2 Recent Developments
     18.7 NFI Group
             18.7.1 Business Overview
             18.7.2 Recent Developments
     18.8 CAF
             18.8.1 Business Overview
             18.8.2 Recent Developments
     18.9 Ebusco Bv
             18.9.1 Recent Developments
     18.10 King Long
             18.10.1 Business Overview
             18.10.2 Recent Developments
     18.11 Ankai
             18.11.1 Business Overview
             18.11.2 Recent Developments
     18.12 Zhongtong Bus Holding
             18.12.1 Business Overview
             18.12.2 Recent Developments
     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. - 163)
     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. - 164)
     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 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 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 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 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 Products Offered
Table 88 New Product Developments
Table 89 Expansions
Table 90 Partnerships/Collaborations/Joint Ventures/Supply Contracts/ Agreements/Mergers & Acquisitions
Table 91 BYD Total Sales, 2015-2018 (USD Billion)
Table 92 Net Profit, 2015-2018 (USD Million)
Table 93 Products Offered
Table 94 New Product Developments
Table 95 Expansion
Table 96 Partnerships/ Collaborations/Joint Ventures/Supply Contracts/ Agreements/Mergers & Acquisitions
Table 97 Products Offered
Table 98 New Product Developments
Table 99 Expansion
Table 100 Partnerships/Collaborations/Joint Ventures/Supply Contracts/ Agreements/Mergers & Acquisitions
Table 101 Product Offerings
Table 102 New Product Developments
Table 103 Expansion
Table 104 Partnerships/Collaborations/Joint Ventures/Supply Contracts/ Agreements/Mergers & Acquisitions
Table 105 Total Sales, 2015-2018 (USD Billion)
Table 106 Net Profit, 2015-2018 (USD Million)
Table 107 Products Offered
Table 108 New Product Developments
Table 109 Expansions
Table 110 Partnerships/Collaborations/Joint Ventures/Supply Contracts/ Agreements/Mergers & Acquisitions
Table 111 Total Sales, 2015-2018 (USD Billion)
Table 112 Products Offered
Table 113 New Product Developments
Table 114 Expansion
Table 115 Partnerships/Collaborations/Joint Ventures/Supply Contracts/ Agreements/Mergers & Acquisitions
Table 116 Total Sales, 2015-2018 (USD Billion)
Table 117 Net Profit, 2015-2018 (USD Billion)
Table 118 Products Offered
Table 119 New Product Developments
Table 120 Expansion
Table 121 Partnerships/Collaborations/Joint Ventures/Supply Contracts/ Agreements/Mergers & Acquisitions
Table 122 Product Offerings
Table 123 New Product Developments
Table 124 Expansion
Table 125 Partnerships/Collaborations/Joint Ventures/Contracts & Agreements/ Mergers & Acquisitions
Table 126 Products Offered
Table 127 New Product Developments
Table 128 Partnerships/Collaborations/Joint Ventures/Supply Contracts/ Agreements/Mergers & Acquisitions
Table 129 Products Offered
Table 130 New Product Developments
Table 131 Expansion
Table 132 Partnerships/Collaborations/Joint Ventures/Supply Contracts/ Agreements/Mergers & Acquisitions
Table 133 Products Offered
Table 134 Expansion
Table 135 Product Offering
Table 136 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.


Electric Commercial Vehicle Market

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)
Report Code
AT 6196
Published ON
Nov, 2019
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