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, End User and Region - Global Forecast to 2028

Report Code: AT 6196 Dec, 2020, by marketsandmarkets.com

[250 Pages Report] The global electric commercial vehicle market size is projected to reach 2,026 thousand units by 2028 from an estimated 129 thousand units in 2020, growing at a CAGR of 41.1%. Increased focus of Government on electrification of public transport fleets and increase in demand for zero emission vehicles in the ecommerce and 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. North America 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.

The COVID-19 pandemic has decelerated the growth of the electric commercial vehicle market. Lower vehicle sales post the pandemic will be a major concern for automotive OEMs for the next few quarters. According to industry experts, there is a very thin chance of vehicle sales recovery in 2020. However, the electric commercial vehicle market is expected to witness a significant boost in 2022 due to recovery and developments.

Electric Commercial Vehicle Market

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COVID-19 impact on the electric commercial vehicle  market:

The electric commercial vehicle market is estimated to observe a decline post-COVID-19 due to the impact on electric vehicle sales. However, a steady recovery post-2020 in vehicle sales will support the growth of this market in the coming years. Just like most of the companies in the automotive industry, electric vehicle component suppliers suffered from the outbreak as well. The COVID-19 pandemic led to the VDL Groep experiencing a revenue loss of around 32% in the first half of 2020 compared with the first half of 2019. To tackle the pandemic, VDL Groep and Royal DSM announced a joint venture (JV) in September 2020, through which the two companies will manufacture medical facemasks and critical facemask components in the Netherlands.  Also, AB Volvo has closed most of its plants temporarily, and employees from various countries are temporarily laid off. In Sweden itself, where the company has its headquarters, a lay-off scheme for 20,000 workers has been announced. Also, COVID-19 pandemic has affected Daimler’s operations in the North American and European regions. The majority of its operations and facilities in Europe were closed for almost two weeks due to nation-wide lockdowns in various countries of the region. The company also decided to shut two of its factories in the US for two weeks in March 2020.

Market Dynamics:

Driver: Increasing demand for emission-free commercial vehicles and rising adoption of electric vehicles in the logistics industry

Various governments across the globe have introduced initiatives, such as the use of electric buses and trucks, to make their urban public transport system more sustainable and fuel-efficient. The introduction of electric buses is set to change mass transit worldwide in the coming years by improving air quality, reducing noise levels, and increasing fuel efficiency. The increasing stringency of emission norms in several countries has compelled manufacturers to adopt electric technology. Europe leads the market in the adoption of electric trucks due to the stringent emission norms laid down by the European Union.

Various logistics companies, such as UPS and PepsiCo, have started taking an interest in the electrification of their trucks to cut down operating costs. The total cost of ownership plays a major role in the logistics industry and affects profit margins. For example, for a logistics company, the breakeven point occurs at an average operating mileage of about 125 miles/day. Fuel expenses are high while covering such distances using conventional vehicles, while the use of electric trucks can eliminate these expenses

Restraint: High development cost

The high cost involved in developing electric commercial vehicles and related components, such as batteries and monitoring systems (battery management systems, CAN bus modules), is a major restraint for electric vehicle manufacturers. The development cost of the charging infrastructure for EVs is also very high. As per Bloomberg estimates, around USD 2.7 trillion will be needed to set up effective charging infrastructure for EVs worldwide. The battery of an EV needs frequent and fast charging through additional equipment such as electric chargers, which are only available at EV charging stations. The battery, charger, and installation cost of the charger add to the cost of electric commercial vehicles, making them costlier than traditional ICE vehicles

Opportunity: New revenue pockets in North America and Europe

North America is a high growth market for electric commercial vehicles. The region has witnessed a surge in demand for low-emission, fuel-efficient, high-performance vehicles due to stringent emission norms and the growing logistics sector. The market in the US is expected to grow exponentially by 2028 due to the high adoption of electric vans and large order placement of electric pick-up trucks.

Growth opportunities are also available in Nordic countries, including Denmark, Finland, Iceland, Norway, and Sweden. These countries have seen a rapid increase in demand for electric vehicles due to government incentives and the presence of supporting infrastructures, such as free charging stations and parking allotments.

Challenges: Limited battery capacity

The batteries of current electric vehicles have low capacities and limited distances per charge. The performance and service life of batteries directly affect the performance and cost of electric vehicles. Presently, lead-acid, nickel-cadmium, nickel-metal hydride, and lithium-ion batteries are used to power electric vehicles. Lithium-ion batteries are gradually replacing lead-acid, nickel-cadmium, and nickel-metal hydride batteries in electric vehicles as they offer a longer life. However, the capacity of lithium-ion batteries is too low to power commercial vehicles. In cold climates, the charging-discharging performance of batteries declines significantly, making it difficult for them to provide maximum power.

The time required to charge an electric vehicle with the equipment currently available is high, leading to consumer dissatisfaction. The average time required to charge an electric vehicle from 0% to 100% with a 7-kW charger is more than 4 hours. Also, most charging stations are equipped with low-capacity chargers. These challenges must be overcome to facilitate the growth of the electric commercial vehicle market.

Electric van segment is estimated to be the fastest-growing market during the forecast period in North America

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 North America 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 while Amazon announced plans to use electric delivery vans to be built by Rivian from 2021 onwards.

The North American electric commercial vehicle market is expected to register the fastest growth during the forecast period

The North American region is projected to be the fastest-growing market during the forecast period. The region is a hub to major players such as Proterra (California, U.S), Tesla (California, U.S), Workhorse Group (Ohio, U.S), Nikola Motor Company (Arizona, U.S) and Rivian (Michigan, U.S). North America is a key region for innovations; significant R&D; and technological advancements in electric vehicles, battery technologies, and charging solutions.

U.S is the largest market in North America, followed by Canada. U.S, which is one of the largest automotive hubs in the North American 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 by Region

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“The Asia Pacific electric commercial vehicle market is projected to hold the largest share by 2028.”

Asia Pacific was the largest electric commercial vehicle market in the world in 2020. 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

2017–2028

Base year considered

2019

Forecast period

2020–2028

Forecast units

Volume (Units)

Segments covered

Vehicle Type, Propulsion Type, Battery Type, Battery Capacity, Power Output, Range, Length of Bus, Component, Autonomous Vehicles, End User 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, End User and Region.

Based on propulsion type:

  • BEV
  • PHEV
  • FCEV

Based on vehicle type:

  • Electric Bus
  • Electric Truck (Medium and Heavy Duty Trucks)
  • 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 End User:

  • Last Mile Delivery
  • Distribution Service
  • Field Service
  • Refuse Service
  • Long Haul Transportation

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
    • Italy
    • Denmark
    • Portugal
    • Ireland

Recent Developments

  • In September 2020, Proterra introduced the ZX5, which is a fifth-generation battery-electric transit bus featuring a new streamlined vehicle design. The new Proterra ZX5 40 ft. electric bus can be equipped with 660KW of energy storage that can deliver up to 329 miles of drive range.
  • In September 2020, Yutong presented introduced its 5G-enabled intelligent mobility solution in a live show in China. Autonomous driving buses, intelligent bus stops, and unmanned intelligent bus terminals were showcased.
  • In September 2020, Mercedes-Benz, a subsidiary of Daimler AG, introduced its new all-electric eCitaro G, which is optionally equipped with innovative solid-state batteries.
  • In July 2020, Volvo Penta, a division of AB Volvo, developed an electric driveline for a leading fire service vehicle manufacturer, Rosenbauer’s pioneering fire truck, enabling an innovative new solution with zero exhaust emissions and significantly reduced noise levels.
  • In March 2020, BYD introduced its Blade Battery, a development set to mitigate concerns about battery safety in electric vehicles.

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 32)
    1.1 OBJECTIVES OF THE STUDY
    1.2 MARKET DEFINITION
        TABLE 1 MARKET DEFINITION
           1.2.1 INCLUSIONS & EXCLUSIONS
                 TABLE 2 INCLUSIONS & EXCLUSIONS
    1.3 MARKET SCOPE
        FIGURE 1 MARKET SEGMENTATION: ELECTRIC COMMERCIAL VEHICLE MARKET
           1.3.1 YEARS CONSIDERED FOR STUDY
    1.4 PACKAGE SIZE
    1.5 STAKEHOLDERS
    1.6 SUMMARY OF CHANGES

2 RESEARCH METHODOLOGY (Page No. - 37)
    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 sales
                    2.1.1.2 Key data from secondary sources
           2.1.2 PRIMARY DATA
                 FIGURE 4 BREAKDOWN OF PRIMARY INTERVIEWS
                    2.1.2.1 Sampling techniques & data collection methods
           2.1.3 PRIMARY PARTICIPANTS
    2.2 MARKET SIZE ESTIMATION
        FIGURE 5 BOTTOM-UP APPROACH: ELECTRIC COMMERCIAL VEHICLE MARKET
    2.3 MARKET BREAKDOWN AND DATA TRIANGULATION
        FIGURE 6 DATA TRIANGULATION
    2.4 ASSUMPTIONS & ASSOCIATED RISKS

3 EXECUTIVE SUMMARY (Page No. - 45)
  FIGURE 7 ELECTRIC COMMERCIAL VEHICLE MARKET: MARKET DYNAMICS
  FIGURE 8 ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2020–2028
  FIGURE 9 ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2020 VS 2028 (UNITS)

4 PREMIUM INSIGHTS (Page No. - 49)
    4.1 ATTRACTIVE OPPORTUNITIES IN ELECTRIC COMMERCIAL VEHICLE MARKET
        FIGURE 10 INCREASING DEMAND FOR FUEL-EFFICIENT AND EMISSION-FREE VEHICLES EXPECTED TO BOOST GROWTH OF ELECTRIC COMMERCIAL VEHICLE MARKET FROM 2020 TO 2028
    4.2 ELECTRIC COMMERCIAL VEHICLE MARKET GROWTH RATE, BY REGION
        FIGURE 11 EUROPE ESTIMATED TO BE FASTEST GROWING ELECTRIC COMMERCIAL VEHICLE MARKET FROM 2020 TO 2028
    4.3 ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE
        FIGURE 12 ELECTRIC BUS ESTIMATED TO BE LARGEST SEGMENT OF ELECTRIC COMMERCIAL VEHICLE MARKET IN 2020 (UNITS)
    4.4 ELECTRIC COMMERCIAL VEHICLE MARKET, BY PROPULSION
        FIGURE 13 BEV EXPECTED TO BE LARGEST SEGMENT OF ELECTRIC COMMERCIAL VEHICLE MARKET (UNITS)
    4.5 ELECTRIC COMMERCIAL VEHICLE MARKET, BY RANGE
        FIGURE 14 150-300 MILES EXPECTED TO BE LARGEST SEGMENT OF ELECTRIC COMMERCIAL VEHICLE MARKET DURING FORECAST PERIOD
    4.6 ELECTRIC COMMERCIAL VEHICLE MARKET, BY LENGTH OF BUS
        FIGURE 15 9-14 M EXPECTED TO BE LARGEST SEGMENT OF ELECTRIC COMMERCIAL VEHICLE MARKET BY 2028 (UNITS)
    4.7 ELECTRIC COMMERCIAL VEHICLE MARKET, BY BATTERY TYPE
        FIGURE 16 LITHIUM-NICKEL-MANGANESE-COBALT OXIDE EXPECTED TO BE LARGEST SEGMENT OF ELECTRIC COMMERCIAL VEHICLE MARKET BY 2028 (UNITS)
    4.8 ELECTRIC COMMERCIAL VEHICLE MARKET, BY BATTERY CAPACITY TYPE
        FIGURE 17 ABOVE 250 KWH EXPECTED TO BE LARGEST SEGMENT OF ELECTRIC COMMERCIAL VEHICLE MARKET BY 2028 (UNITS)
    4.9 ELECTRIC COMMERCIAL VEHICLE MARKET, BY POWER OUTPUT TYPE
        FIGURE 18 ABOVE 250 KWH EXPECTED TO BE LARGEST SEGMENT OF ELECTRIC COMMERCIAL VEHICLE MARKET BY 2028 (UNITS)

5 MARKET OVERVIEW (Page No. - 54)
    5.1 INTRODUCTION
    5.2 MARKET DYNAMICS
        FIGURE 19 ELECTRIC COMMERCIAL VEHICLE MARKET: 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
                    5.2.1.2 Government support for electric commercial vehicles
                            TABLE 3 GOVERNMENT PROGRAMS FOR THE PROMOTION OF ELECTRIC COMMERCIAL VEHICLE SALES
                    5.2.1.3 Reduction in battery prices
                            FIGURE 21 DECLINE IN BATTERY PRICE/KWH, 2010–2019
           5.2.2 RESTRAINTS
                    5.2.2.1 High development cost
                            FIGURE 22 AVERAGE COST OF DIESEL VS ELECTRIC BUSES
           5.2.3 OPPORTUNITIES
                    5.2.3.1 New revenue pockets in North America and Northern Europe
                            FIGURE 23 NORTH AMERICA EXPECTED TO EMERGE AS BEST MARKET FOR INVESTMENT DURING FORECAST PERIOD
           5.2.4 CHALLENGES
                    5.2.4.1 Limited battery capacity
                            TABLE 4 BATTERY CAPACITIES OF POPULAR ELECTRIC BUSES
                    5.2.4.2 Lack of EV charging infrastructure
    5.3 ELECTRIC COMMERCIAL VEHICLE MARKET, MARKET SCENARIOS (2020–2028)
        FIGURE 24 ELECTRIC COMMERCIAL VEHICLE MARKET: FUTURE TRENDS & SCENARIOS, 2020–2028 (’000 UNITS)
           5.3.1 ELECTRIC COMMERCIAL VEHICLE MARKET, REALISTIC SCENARIO
                 TABLE 5 ELECTRIC COMMERCIAL VEHICLE MARKET: REALISTIC SCENARIO, BY REGION, 2020–2028 (UNITS)
           5.3.2 ELECTRIC COMMERCIAL VEHICLE MARKET, OPTIMISTIC SCENARIO
                 TABLE 6 ELECTRIC COMMERCIAL VEHICLE MARKET: OPTIMISTIC SCENARIO, BY REGION, 2020–2028 (UNITS)
           5.3.3 ELECTRIC COMMERCIAL VEHICLE MARKET, PESSIMISTIC SCENARIO
                 TABLE 7 ELECTRIC COMMERCIAL VEHICLE MARKET: PESSIMISTIC SCENARIO, BY REGION, 2020–2028 (UNITS)
                 FIGURE 25 REVENUE SHIFT AND HOT BETS IN ELECTRIC COMMERCIAL VEHICLE MARKET
    5.4 TECHNOLOGY TRENDS
           5.4.1 INTRODUCTION
           5.4.2 ROBO-TAXI
           5.4.3 HIGH VOLTAGE BATTERY
           5.4.4 SMART ELECTRIC DRIVE
    5.5 TECHNOLOGY ANALYSIS
           5.5.1 INNOVATIVE CHARGING SOLUTIONS
                    5.5.1.1 Off-board top-down pantograph charging system
                    5.5.1.2 On-board bottom-up pantograph charging system
           5.5.2 GROUND-BASED STATIC CHARGING SYSTEM
    5.6 PORTER’S FIVE FORCES MODEL ANALYSIS
    5.7 ELECTRIC COMMERCIAL VEHICLE MARKET ECOSYSTEM
        FIGURE 26 ELECTRIC COMMERCIAL VEHICLE MARKET: ECOSYSTEM ANALYSIS
    5.8 SUPPLY CHAIN ANALYSIS
        FIGURE 27 SUPPLY CHAIN ANALYSIS: ELECTRIC COMMERCIAL VEHICLE MARKET
           5.8.1 ELECTRIC CHARGING INFRASTRUCTURE PROVIDERS
           5.8.2 TIER II SUPPLIERS
           5.8.3 TIER I SUPPLIERS
           5.8.4 OEMS
           5.8.5 END USERS
                 TABLE 8 ELECTRIC COMMERCIAL VEHICLE MARKET: SUPPLY CHAIN STAKEHOLDERS AND THEIR STRATEGIES
    5.9 IMPACT ANALYSIS: COVID-19
           5.9.1 INTRODUCTION TO COVID-19
           5.9.2 COVID-19 HEALTH ASSESSMENT
                 FIGURE 28 COVID-19: THE GLOBAL PROPAGATION
                 FIGURE 29 COVID-19 PROPAGATION: SELECT COUNTRIES
           5.9.3 COVID-19 ECONOMIC ASSESSMENT
                 FIGURE 30 REVISED GROSS DOMESTIC PRODUCT FORECASTS FOR SELECT G20 COUNTRIES IN 2020
                    5.9.3.1 COVID-19 Economic Impact: Scenario Assessment
                            FIGURE 31 CRITERIA IMPACTING THE GLOBAL ECONOMY
                            FIGURE 32 SCENARIOS IN TERMS OF RECOVERY OF THE GLOBAL ECONOMY
           5.9.4 COVID-19 IMPACT ON AUTOMOTIVE INDUSTRY
           5.9.5 OEM ANNOUNCEMENTS
                 TABLE 9 OEM ANNOUNCEMENTS
           5.9.6 IMPACT ON VEHICLE PRODUCTION AND SALES

6 ELECTRIC COMMERCIAL VEHICLE MARKET, BY COMPONENT (Page No. - 76)
    6.1 INTRODUCTION
    6.2 ELECTRIC MOTOR
    6.3 EV BATTERY
    6.4 HYDROGEN FUEL CELL STACK

7 ELECTRIC COMMERCIAL VEHICLE MARKET, BY AUTONOMOUS VEHICLE (Page No. - 78)
    7.1 INTRODUCTION
    7.2 ELECTRIC AUTONOMOUS TRUCK
    7.3 ELECTRIC AUTONOMOUS BUS

8 ELECTRIC COMMERCIAL VEHICLE MARKET, BY BATTERY TYPE (Page No. - 80)
    8.1 INTRODUCTION
        FIGURE 33 NMC SEGMENT TO DOMINATE ELECTRIC COMMERCIAL VEHICLES MARKET IN FORECAST PERIOD
        TABLE 10 ELECTRIC COMMERCIAL VEHICLES MARKET SIZE, BY BATTERY TYPE, 2017–2019 (UNITS)
        TABLE 11 ELECTRIC COMMERCIAL VEHICLES MARKET SIZE, BY BATTERY TYPE, 2020–2028 (UNITS)
    8.2 OPERATIONAL DATA
        TABLE 12 ELECTRIC COMMERCIAL VEHICLE DATA, BATTERY TYPE
           8.2.1 ASSUMPTIONS
           8.2.2 RESEARCH METHODOLOGY
    8.3 LITHIUM-NICKEL-MANGANESE-COBALT OXIDE
           8.3.1 ADVANCEMENTS IN BATTERY TECHNOLOGY BOOST NMC SEGMENT
                 TABLE 13 LITHIUM-NICKEL-MANGANESE-COBALT OXIDE BATTERIES IN ELECTRIC COMMERCIAL VEHICLES MARKET, BY REGION, 2017–2019 (UNITS)
                 TABLE 14 LITHIUM-NICKEL-MANGANESE-COBALT OXIDE BATTERIES IN ELECTRIC COMMERCIAL VEHICLES MARKET, BY REGION, 2020–2028 (UNITS)
    8.4 LITHIUM-IRON-PHOSPHATE
           8.4.1 LOW PRICES OF LFP BATTERIES DRIVE MARKET
                 TABLE 15 LITHIUM-IRON-PHOSPHATE BATTERIES IN ELECTRIC COMMERCIAL VEHICLES MARKET, BY REGION, 2017–2019 (UNITS)
                 TABLE 16 LITHIUM-IRON-PHOSPHATE BATTERIES IN ELECTRIC COMMERCIAL VEHICLES MARKET, BY REGION, 2020–2028 (UNITS)
    8.5 OTHERS
           8.5.1 OEMS FOCUS ON R&D TO BOOST MARKET FOR OTHER BATTERIES
                 TABLE 17 OTHER BATTERIES IN ELECTRIC COMMERCIAL VEHICLES MARKET, BY REGION, 2017–2019 (UNITS)
                 TABLE 18 OTHER BATTERIES ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2020–2028 (UNITS)
    8.6 KEY INDUSTRY INSIGHTS

9 ELECTRIC COMMERCIAL VEHICLES MARKET, BY BATTERY CAPACITY (Page No. - 87)
    9.1 INTRODUCTION
        FIGURE 34 50-250 KWH SEGMENT TO GROW FASTEST DURING FORECAST PERIOD
        TABLE 19 ELECTRIC COMMERCIAL VEHICLES MARKET SIZE, BY BATTERY CAPACITY, 2017–2019 (UNITS)
        TABLE 20 ELECTRIC COMMERCIAL VEHICLES MARKET SIZE, BY BATTERY CAPACITY, 2020–2028 (UNITS)
    9.2 OPERATIONAL DATA
        TABLE 21 ELECTRIC COMMERCIAL VEHICLE DATA, BY BATTERY CAPACITY
           9.2.1 ASSUMPTIONS
           9.2.2 RESEARCH METHODOLOGY
    9.3 LESS THAN 50 KWH
           9.3.1 HIGH ADOPTION RATE OF ELECTRIC VANS TO BOOST LESS THAN 50 KWH SEGMENT
                 TABLE 22 LESS THAN 50 KWH: ELECTRIC COMMERCIAL VEHICLES MARKET, BY REGION, 2017–2019 (UNITS)
                 TABLE 23 LESS THAN 50 KWH: ELECTRIC COMMERCIAL VEHICLES MARKET, BY REGION, 2020–2028 (UNITS)
    9.4 50-250 KWH
           9.4.1 AFFORDABLE ELECTRIC BUSES AND PICK-UP TRUCKS DRIVE 50-250 KWH MARKET IN ASIA PACIFIC
                 TABLE 24 50-250 KWH: ELECTRIC COMMERCIAL VEHICLES MARKET, BY REGION, 2017–2019 (UNITS)
                 TABLE 25 50-250 KWH: ELECTRIC COMMERCIAL VEHICLES MARKET, BY REGION, 2020–2028 (UNITS)
    9.5 ABOVE 250 KWH
           9.5.1 BUSES WITH MORE THAN 250 KWH BATTERY CAPACITY DOMINATE CHINESE PUBLIC TRANSPORT FLEET
                 TABLE 26 ABOVE 250 KWH: ELECTRIC COMMERCIAL VEHICLES MARKET, BY REGION, 2017–2019 (UNITS)
                 TABLE 27 ABOVE 250 KWH: ELECTRIC COMMERCIAL VEHICLES MARKET, BY REGION, 2020–2028 (UNITS)
    9.6 KEY INDUSTRY INSIGHTS

10 ELECTRIC COMMERCIAL VEHICLES MARKET, BY LENGTH OF BUS (Page No. - 95)
     10.1 INTRODUCTION
          FIGURE 35 9-14 M SEGMENT TO DOMINATE ELECTRIC COMMERCIAL VEHICLES MARKET IN FORECAST PERIOD
          TABLE 28 ELECTRIC COMMERCIAL VEHICLES MARKET SIZE, BY LENGTH OF BUS, 2017–2019 (UNITS)
          TABLE 29 ELECTRIC COMMERCIAL VEHICLES MARKET SIZE, BY LENGTH OF BUS, 2020–2028 (UNITS)
     10.2 OPERATIONAL DATA
          TABLE 30 ELECTRIC COMMERCIAL VEHICLE DATA, BY LENGTH OF BUS
             10.2.1 ASSUMPTIONS
             10.2.2 RESEARCH METHODOLOGY
     10.3 LESS THAN 9M
             10.3.1 WIDE-SCALE USE OF MINI BUSES ON COMPACT ROADS DRIVES SEGMENT
                    TABLE 31 LESS THAN 9M: ELECTRIC COMMERCIAL VEHICLES MARKET, BY REGION, 2017–2019 (UNITS)
                    TABLE 32 LESS THAN 9M: ELECTRIC COMMERCIAL VEHICLES MARKET, BY REGION, 2020–2028 (UNITS)
     10.4 9-14M
             10.4.1 HIGH ADOPTION FOR PUBLIC TRANSPORT FLEETS FUELS SEGMENT GROWTH
                    TABLE 33 9 -14M: ELECTRIC COMMERCIAL VEHICLES MARKET, BY REGION, 2017–2019 (UNITS)
                    TABLE 34 9-14 M: ELECTRIC COMMERCIAL VEHICLES MARKET, BY REGION, 2020–2028 (UNITS)
     10.5 ABOVE 14 M
             10.5.1 INCREASING NUMBER OF DAILY COMMUTERS IN ASIA PACIFIC BOOSTS ABOVE 14M SEGMENT
                    TABLE 35 ABOVE 14M: ELECTRIC COMMERCIAL VEHICLES MARKET, BY REGION, 2017–2019 (UNITS)
                    TABLE 36 ABOVE 14M: ELECTRIC COMMERCIAL VEHICLES MARKET, BY REGION, 2020–2028 (UNITS)
     10.6 KEY INDUSTRY INSIGHTS

11 ELECTRIC COMMERCIAL VEHICLES MARKET, BY PROPULSION TYPE (Page No. - 102)
     11.1 INTRODUCTION
          FIGURE 36 BEV SEGMENT TO DOMINATE ELECTRIC COMMERCIAL VEHICLES MARKET IN FORECAST PERIOD
          TABLE 37 ELECTRIC COMMERCIAL VEHICLES MARKET SIZE, BY PROPULSION TYPE, 2017–2019 (UNITS)
          TABLE 38 ELECTRIC COMMERCIAL VEHICLES MARKET SIZE, BY PROPULSION TYPE, 2020–2028 (UNITS)
     11.2 OPERATIONAL DATA
          TABLE 39 ELECTRIC COMMERCIAL VEHICLE DATA, BY PROPULSION TYPE
             11.2.1 ASSUMPTIONS
             11.2.2 RESEARCH METHODOLOGY
     11.3 BEV
             11.3.1 BEV SEGMENT TO DOMINATE IN ASIA PACIFIC
                    TABLE 40 BEV: ELECTRIC COMMERCIAL VEHICLES MARKET, BY REGION, 2017–2019 (UNITS)
                    TABLE 41 BEV: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2020–2028 (UNITS)
     11.4 FCEV
             11.4.1 FCEV BUSES ALREADY IN OPERATION IN ASIA PACIFIC
                    TABLE 42 FCEV: ELECTRIC COMMERCIAL VEHICLES MARKET, BY REGION, 2017–2019 (UNITS)
                    TABLE 43 FCEV: ELECTRIC COMMERCIAL VEHICLES MARKET, BY REGION, 2020–2028 (UNITS)
     11.5 PHEV
             11.5.1 ASIA PACIFIC PROJECTED TO BE LARGEST PHEV MARKET
                    TABLE 44 PHEV: ELECTRIC COMMERCIAL VEHICLES MARKET, BY REGION, 2017–2019 (UNITS)
                    TABLE 45 PHEV: ELECTRIC COMMERCIAL VEHICLES MARKET, BY REGION, 2020–2028 (UNITS)
     11.6 KEY INDUSTRY INSIGHTS

12 ELECTRIC COMMERCIAL VEHICLE MARKET, BY POWER OUTPUT (Page No. - 110)
     12.1 INTRODUCTION
          FIGURE 37 ABOVE 250 KW SEGMENT TO DOMINATE ELECTRIC COMMERCIAL VEHICLE MARKET IN FORECAST PERIOD
          TABLE 46 ELECTRIC COMMERCIAL VEHICLE MARKET SIZE, BY POWER OUTPUT, 2017–2019 (UNITS)
          TABLE 47 ELECTRIC COMMERCIAL VEHICLE MARKET SIZE, BY POWER OUTPUT, 2020–2028 (UNITS)
     12.2 OPERATIONAL DATA
          TABLE 48 ELECTRIC COMMERCIAL VEHICLE DATA BASED ON POWER OUTPUT
             12.2.1 ASSUMPTIONS
             12.2.2 RESEARCH METHODOLOGY
     12.3 LESS THAN 100 KW
             12.3.1 USE OF SMALL ELECTRIC VANS FOR SHIPPING BY LOGISTICS COMPANIES IN EUROPE
                    TABLE 49 LESS THAN 100 KW: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2017–2019 (UNITS)
                    TABLE 50 LESS THAN 100 KW: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2020–2028 (UNITS)
     12.4 100-250 KW
             12.4.1 DEVELOPMENT OF ENTRY-LEVEL ELECTRIC PICK-UP TRUCKS IN NORTH AMERICA
                    TABLE 51 100-250 KW: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2017–2019 (UNITS)
                    TABLE 52 100-250 KW: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2020–2028 (UNITS)
     12.5 ABOVE 250 KW
             12.5.1 INCREASING DEMAND FOR ELECTRIC TRUCKS WITH HIGH POWER OUTPUT TO DRIVE MARKET
                    TABLE 53 ABOVE 250 KW: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2017–2019 (UNITS)
                    TABLE 54 ABOVE 250 KW: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2020–2028 (UNITS)
     12.6 KEY INDUSTRY INSIGHTS

13 ELECTRIC COMMERCIAL VEHICLE MARKET, BY RANGE (Page No. - 118)
     13.1 INTRODUCTION
          FIGURE 38 LESS THAN 150 MILES SEGMENT TO DOMINATE ELECTRIC COMMERCIAL VEHICLE MARKET IN FORECAST PERIOD
          TABLE 55 ELECTRIC COMMERCIAL VEHICLE MARKET SIZE, BY RANGE, 2017–2019 (UNITS)
          TABLE 56 ELECTRIC COMMERCIAL VEHICLE MARKET SIZE, BY RANGE, 2020–2028 (UNITS)
     13.2 OPERATIONAL DATA
          TABLE 57 ELECTRIC COMMERCIAL VEHICLE DATA BASED ON RANGE
             13.2.1 ASSUMPTIONS
             13.2.2 RESEARCH METHODOLOGY
     13.3 LESS THAN 150 MILES
             13.3.1 AFFORDABLE ELECTRIC VANS TO DRIVE LESS THAN 150 MILES SEGMENT
                    TABLE 58 LESS THAN 150 MILES: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2017–2019 (UNITS)
                    TABLE 59 LESS THAN 150 MILES: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2020–2028 (UNITS)
     13.4 150-300 MILES
             13.4.1 HIGH ADOPTION RATE OF ELECTRIC BUSES TO BOOST MARKET
                    TABLE 60 150-300 MILES: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2017–2019 (UNITS)
                    TABLE 61 150-300 MILES: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2020–2028 (UNITS)
     13.5 ABOVE 300 MILES
             13.5.1 ADVANCEMENTS IN BATTERY TECHNOLOGIES TO DRIVE ABOVE 300 MILES SEGMENT
                    TABLE 62 ABOVE 300 MILES: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2017–2019 (UNITS)
                    TABLE 63 ABOVE 300 MILES: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2020–2028 (UNITS)
     13.6 KEY INDUSTRY INSIGHTS

14 ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE (Page No. - 126)
     14.1 INTRODUCTION
          FIGURE 39 ELECTRIC VAN SEGMENT TO RECORD HIGHER CAGR DURING FORECAST PERIOD (2020–2028)
          TABLE 64 ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2017–2019 (UNITS)
          TABLE 65 ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2020–2028 (UNITS)
     14.2 OPERATIONAL DATA
          TABLE 66 ELECTRIC COMMERCIAL VEHICLE DATA BASED ON VEHICLE TYPE
             14.2.1 ASSUMPTIONS
             14.2.2 RESEARCH METHODOLOGY
     14.3 ELECTRIC BUS
             14.3.1 HIGH DEMAND FROM MAJOR OEMS IN ASIA PACIFIC
                    TABLE 67 ELECTRIC BUS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2017–2019 (UNITS)
                    TABLE 68 ELECTRIC BUS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2020–2028 (UNITS)
     14.4 ELECTRIC PICK-UP TRUCK
             14.4.1 ASIA PACIFIC TO LEAD ELECTRIC PICK-UP TRUCK MARKET IN FORECAST PERIOD
                    TABLE 69 ELECTRIC PICK-UP TRUCK: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2017–2019 (UNITS)
                    TABLE 70 ELECTRIC PICK-UP TRUCK: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2020–2028 (UNITS)
     14.5 ELECTRIC TRUCK
             14.5.1 ADVANCEMENTS IN BATTERY TECHNOLOGY TO BOOST ELECTRIC TRUCK MARKET
                    TABLE 71 ELECTRIC TRUCK: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2017–2019 (UNITS)
                    TABLE 72 ELECTRIC TRUCK: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2020–2028 (UNITS)
             14.5.2 MEDIUM-DUTY AND HEAVY-DUTY TRUCKS
             14.5.3 ADOPTION OF ELECTRIC MEDIUM-DUTY AND HEAVY-DUTY TRUCKS FOR SHORT AND LONG RANGES TO BOOST MARKET
                    TABLE 73 ELECTRIC MEDIUM-DUTY AND HEAVY-DUTY TRUCK: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2017–2019 (UNITS)
                    TABLE 74 ELECTRIC MEDIUM-DUTY AND HEAVY-DUTY TRUCK: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2020–2028 (UNITS)
     14.6 ELECTRIC VAN
             14.6.1 INCREASING DEMAND FROM LOGISTICS SECTOR TO DRIVE ELECTRIC VAN MARKET
                    TABLE 75 ELECTRIC VAN: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2017–2019 (UNITS)
                    TABLE 76 ELECTRIC VAN: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2020–2028 (UNITS)
     14.7 KEY INDUSTRY INSIGHTS

15 ELECTRIC COMMERCIAL VEHICLE MARKET, BY END-USER (Page No. - 136)
     15.1 INTRODUCTION
          FIGURE 40 HIGHER ADOPTION OF ELECTRIC COMMERCIAL VEHICLES FOR LAST MILE DELIVERY SERVICES
             15.1.1 LAST MILE DELIVERY AND DISTRIBUTION SERVICES SEGMENTS ARE LIKELY TO LEAD MARKET
          TABLE 77 ELECTRIC COMMERCIAL VEHICLE MARKET, BY END-USER, 2019–2028 (UNITS)
     15.2 OPERATIONAL DATA
          TABLE 78 OPERATIONAL DATA: ELECTRIC COMMERCIAL VEHICLE DATA BASED ON VEHICLE TYPE
             15.2.1 ASSUMPTIONS
             15.2.2 RESEARCH METHODOLOGY
     15.3 LAST MILE DELIVERY
     15.4 FIELD SERVICES
     15.5 DISTRIBUTION SERVICES
     15.6 LONG HAUL TRANSPORTATION
     15.7 REFUSE SERVICES
     15.8 KEY INDUSTRY INSIGHTS

16 ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION (Page No. - 141)
     16.1 INTRODUCTION
     16.2 ASIA PACIFIC TO LEAD ELECTRIC COMMERCIAL VEHICLE MARKET IN FORECAST PERIOD
          FIGURE 41 ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2020 VS. 2028 (UNITS)
          TABLE 79 ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2017–2019 (UNITS)
          TABLE 80 ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2020–2028 (UNITS)
     16.3 ASIA PACIFIC
          FIGURE 42 ASIA PACIFIC: ELECTRIC COMMERCIAL VEHICLE MARKET SNAPSHOT
          TABLE 81 ASIA PACIFIC: ELECTRIC COMMERCIAL VEHICLE MARKET, BY COUNTRY, 2017–2019 (UNITS)
          TABLE 82 ASIA PACIFIC: ELECTRIC COMMERCIAL VEHICLE MARKET, BY COUNTRY, 2020–2028 (UNITS)
             16.3.1 CHINA
                    TABLE 83 CHINA: KEY GOVERNMENT POLICY MEASURES AND TARGETS TO ADVANCE DEPLOYMENT OF ELECTRIC HEAVY-DUTY VEHICLES
                        16.3.1.1 Electric buses to dominate the Chinese market
                                  TABLE 84 CHINA: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2017–2019 (UNITS)
                                  TABLE 85 CHINA: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2020–2028 (UNITS)
             16.3.2 JAPAN
                    TABLE 86 JAPAN: KEY GOVERNMENT POLICY MEASURES AND TARGETS TO ADVANCE DEPLOYMENT OF ELECTRIC HEAVY-DUTY VEHICLES
                        16.3.2.1 Presence of many renowned OEMs providing advanced electric vans
                                  TABLE 87 JAPAN: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2017–2019 (UNITS)
                                  TABLE 88 JAPAN: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2020–2028 (UNITS)
             16.3.3 INDIA
                    TABLE 89 INDIA: KEY GOVERNMENT POLICY MEASURES AND TARGETS TO ADVANCE DEPLOYMENT OF ELECTRIC HEAVY-DUTY VEHICLES
                        16.3.3.1 Indian electric commercial vehicle market to witness rapid growth
                                  TABLE 90 INDIA: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2017–2019 (UNITS)
                                  TABLE 91 INDIA: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2020–2028 (UNITS)
             16.3.4 SOUTH KOREA
                    TABLE 92 SOUTH KOREA: KEY GOVERNMENT POLICY MEASURES AND TARGETS TO ADVANCE DEPLOYMENT OF ELECTRIC HEAVY-DUTY VEHICLES
                        16.3.4.1 Increasing focus on electrifying public transport
                                  TABLE 93 SOUTH KOREA: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2017–2019 (UNITS)
                                  TABLE 94 SOUTH KOREA: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2020–2028 (UNITS)
     16.4 EUROPE
          TABLE 95 KEY EV POLICY MEASURES AND TARGETS FOR EUROPEAN UNION
          FIGURE 43 EUROPE: ELECTRIC COMMERCIAL VEHICLE MARKET, BY COUNTRY, 2020 VS. 2028 (UNITS)
          TABLE 96 EUROPE: ELECTRIC COMMERCIAL VEHICLE MARKET, BY COUNTRY, 2017–2019 (UNITS)
          TABLE 97 EUROPE: ELECTRIC COMMERCIAL VEHICLE MARKET, BY COUNTRY, 2020–2028 (UNITS)
             16.4.1 FRANCE
                    TABLE 98 KEY EV POLICY MEASURES AND TARGETS FOR FRANCE
                        16.4.1.1 Electric van segment dominates market
                                 TABLE 99 FRANCE: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2017–2019 (UNITS)
                                 TABLE 100 FRANCE: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2020–2028 (UNITS)
             16.4.2 GERMANY
                    TABLE 101 KEY EV POLICY MEASURES AND TARGETS FOR GERMANY
                        16.4.2.1 Electrification of public transport fleet to boost electric bus segment
                                 TABLE 102 GERMANY: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2017–2019 (UNITS)
                                 TABLE 103 GERMANY: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2020–2028 (UNITS)
             16.4.3 SPAIN
                    TABLE 104 KEY EV POLICY MEASURES AND TARGETS FOR SPAIN
                        16.4.3.1 Government focus on replacing existing transport fleets expected to positively impact electric bus segment
                                 TABLE 105 SPAIN: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2017–2019 (UNITS)
                                 TABLE 106 SPAIN: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2020–2028 (UNITS)
             16.4.4 AUSTRIA
                    TABLE 107 KEY EV POLICY MEASURES AND TARGETS FOR AUSTRIA
                        16.4.4.1 Electric van segment to lead Austrian market
                                 TABLE 108 AUSTRIA: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2017–2019 (UNITS)
                                 TABLE 109 AUSTRIA: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2020–2028 (UNITS)
             16.4.5 NORWAY
                    TABLE 110 KEY EV POLICY MEASURES AND TARGETS FOR NORWAY
                        16.4.5.1 Logistics industry to replace conventional means of transport with advanced and efficient electric vans
                                 TABLE 111 NORWAY: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2017–2019 (UNITS)
                                 TABLE 112 NORWAY: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2020–2028 (UNITS)
             16.4.6 SWEDEN
                    TABLE 113 KEY EV POLICY MEASURES AND TARGETS FOR SWEDEN
                        16.4.6.1 Presence of market leading OEMs to boost electric commercial vehicle market
                                 TABLE 114 SWEDEN: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2017–2019 (UNITS)
                                 TABLE 115 SWEDEN: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2020–2028 (UNITS)
             16.4.7 SWITZERLAND
                    TABLE 116 KEY EV POLICY MEASURES AND TARGETS FOR SWITZERLAND
                        16.4.7.1 Favorable government regulations to boost electric commercial vehicle market
                                 TABLE 117 SWITZERLAND: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2017–2019 (UNITS)
                                 TABLE 118 SWITZERLAND: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2020–2028 (UNITS)
             16.4.8 THE NETHERLANDS
                    TABLE 119 KEY EV POLICY MEASURES AND TARGETS FOR THE NETHERLANDS
                        16.4.8.1 OEMs to play important role in boosting electric commercial vehicle market
                                 TABLE 120 THE NETHERLANDS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2017–2019 (UNITS)
                                 TABLE 121 THE NETHERLANDS ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2020–2028 (UNITS)
             16.4.9 BELGIUM
                    TABLE 122 KEY EV POLICY MEASURES AND TARGETS FOR BELGIUM
                        16.4.9.1 Higher adoption rate to benefit electric commercial vehicle market
                                 TABLE 123 BELGIUM: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2017–2019 (UNITS)
                                 TABLE 124 BELGIUM: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2020–2028 (UNITS)
             16.4.10 UK
                     TABLE 125 KEY EV POLICY MEASURES AND TARGETS FOR UK
                        16.4.10.1 Government boost for emission-free buses to help market growth
                                  TABLE 126 UK: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2017–2019 (UNITS)
                                  TABLE 127 UK: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2020–2028 (UNITS)
             16.4.11 ITALY
                     TABLE 128 KEY EV POLICY MEASURES AND TARGETS FOR ITALY
                        16.4.11.1 Government incentives to boost electric commercial vehicle market
                                  TABLE 129 ITALY: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2017–2019 (UNITS)
                                  TABLE 130 ITALY: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2020–2028 (UNITS)
             16.4.12 DENMARK
                     TABLE 131 KEY EV POLICY MEASURES AND TARGETS FOR DENMARK
                        16.4.12.1 Favorable regulations and tax policies to boost electric commercial vehicle market
                                  TABLE 132 DENMARK: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2017–2019 (UNITS)
                                  TABLE 133 DENMARK: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2020–2028 (UNITS)
             16.4.13 PORTUGAL
                     TABLE 134 KEY EV POLICY MEASURES AND TARGETS FOR PORTUGAL
                        16.4.13.1 Increasing adoption of electric vans to boost electric commercial vehicle market
                                  TABLE 135 PORTUGAL: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2017–2019 (UNITS)
                                  TABLE 136 PORTUGAL: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2020–2028 (UNITS)
             16.4.14 IRELAND
                     TABLE 137 KEY EV POLICY MEASURES AND TARGETS FOR IRELAND
                        16.4.14.1 Favorable policies to support growth of electric commercial vehicle market
                                  TABLE 138 IRELAND: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2017–2019 (UNITS)
                                  TABLE 139 IRELAND: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2020–2028 (UNITS)
     16.5 NORTH AMERICA
          FIGURE 44 NORTH AMERICA: ELECTRIC COMMERCIAL VEHICLE MARKET SNAPSHOT
          TABLE 140 NORTH AMERICA: ELECTRIC COMMERCIAL VEHICLE MARKET, BY COUNTRY, 2017–2019 (UNITS)
          TABLE 141 NORTH AMERICA: ELECTRIC COMMERCIAL VEHICLE MARKET, BY COUNTRY, 2020–2028 (UNITS)
             16.5.1 US
                    TABLE 142 KEY EV POLICY MEASURES AND TARGETS FOR US
                        16.5.1.1 Electric pick-up truck segment to lead electric commercial vehicle market
                                 TABLE 143 US: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2017–2019 (UNITS)
                                 TABLE 144 US: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2020–2028 (UNITS)
             16.5.2 CANADA
                    TABLE 145 KEY EV POLICY MEASURES AND TARGETS FOR CANADA
                        16.5.2.1 Electric truck segment to dominate electric commercial vehicle market
                                 TABLE 146 CANADA: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2017–2019 (UNITS)
                                 TABLE 147 CANADA: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2020–2028 (UNITS)

17 COMPETITIVE LANDSCAPE (Page No. - 180)
     17.1 MARKET EVALUATION FRAMEWORK
          FIGURE 45 MARKET EVALUATION FRAMEWORK
     17.2 OVERVIEW
          FIGURE 46 KEY DEVELOPMENTS BY LEADING PLAYERS, 2017–2020
     17.3 MARKET SHARE ANALYSIS FOR ELECTRIC COMMERCIAL VEHICLE MARKET
          FIGURE 47 MARKET SHARE ANALYSIS, 2019
     17.4 RANKING ANALYSIS FOR ELECTRIC COMMERCIAL VEHICLE MARKET
          FIGURE 48 MARKET RANKING ANALYSIS, 2019
     17.5 MARKET EVALUATION FRAMEWORK: REVENUE ANALYSIS OF TOP LISTED/PUBLIC PLAYERS
          FIGURE 49 TOP PUBLIC/LISTED PLAYERS DOMINATE ELECTRIC COMMERCIAL VEHICLE MARKET IN LAST 3 YEARS
     17.6 COMPETITIVE SCENARIO
             17.6.1 NEW PRODUCT DEVELOPMENTS
                    TABLE 148 NEW PRODUCT DEVELOPMENTS, 2017–2020
             17.6.2 MERGERS & ACQUISITIONS
                    TABLE 149 MERGERS & ACQUISITIONS, 2017–2020
             17.6.3 PARTNERSHIPS/SUPPLY CONTRACTS/COLLABORATIONS/ JOINT VENTURES/AGREEMENTS
                    TABLE 150 PARTNERSHIPS/SUPPLY CONTRACTS/COLLABORATIONS/JOINT VENTURES/ AGREEMENTS, 2017–2020
             17.6.4 EXPANSIONS
                    TABLE 151 EXPANSIONS, 2017–2020
     17.7 COMPETITIVE LEADERSHIP MAPPING
             17.7.1 STARS
             17.7.2 EMERGING LEADERS
             17.7.3 PERVASIVE
             17.7.4 EMERGING COMPANIES
                    FIGURE 50 ELECTRIC COMMERCIAL VEHICLE MARKET: COMPETITIVE LEADERSHIP MAPPING, 2019
     17.8 STRENGTH OF PRODUCT PORTFOLIO
          FIGURE 51 PRODUCT PORTFOLIO ANALYSIS OF TOP PLAYERS IN ELECTRIC COMMERCIAL VEHICLE MARKET
     17.9 BUSINESS STRATEGY EXCELLENCE
          FIGURE 52 BUSINESS STRATEGY EXCELLENCE OF TOP PLAYERS IN ELECTRIC COMMERCIAL VEHICLE MARKET
     17.1 START-UP/SME EVALUATION MATRIX, 2019
             17.10.1 PROGRESSIVE COMPANIES
             17.10.2 RESPONSIVE COMPANIES
             17.10.3 DYNAMIC COMPANIES
             17.10.4 STARTING BLOCKS
                     FIGURE 53 SME ELECTRIC COMMERCIAL VEHICLE MARKET: COMPETITIVE LEADERSHIP MAPPING, 2019
     17.11 WINNERS VS. TAIL-ENDERS
           TABLE 152 WINNERS VS. TAIL-ENDERS

18 COMPANY PROFILES (Page No. - 202)
(Business overview, Products offered, Recent Developments, SWOT analysis, MNM view)*
     18.1 BYD
          FIGURE 54 BYD: COMPANY SNAPSHOT
          TABLE 153 BYD: PRODUCTS OFFERED
          TABLE 154 BYD: NEW PRODUCT LAUNCHES/EXPANSIONS
          TABLE 155 BYD: PARTNERSHIPS/COLLABORATIONS/JOINT VENTURES/SUPPLY CONTRACTS/ AGREEMENTS/MERGERS & ACQUISITIONS
          TABLE 156 AUTOMOTIVE & RELATED REVENUE SHARE OVER THE YEARS
          FIGURE 55 BYD: SWOT ANALYSIS
     18.2 YUTONG
          FIGURE 56 YUTONG: COMPANY SNAPSHOT
          TABLE 157 YUTONG: PRODUCTS OFFERED
          TABLE 158 YUTONG: NEW PRODUCT DEVELOPMENTS/EXPANSIONS
          TABLE 159 YUTONG: PARTNERSHIPS/COLLABORATIONS/JOINT VENTURES/SUPPLY CONTRACTS/ AGREEMENTS/MERGERS & ACQUISITIONS
          FIGURE 57 YUTONG: SWOT ANALYSIS
     18.3 PROTERRA
          TABLE 160 PROTERRA: PRODUCTS OFFERED
          TABLE 161 PROTERRA: NEW PRODUCT DEVELOPMENTS/EXPANSIONS
          TABLE 162 PROTERRA: PARTNERSHIPS/COLLABORATIONS/JOINT VENTURES/SUPPLY CONTRACTS/AGREEMENTS/MERGERS & ACQUISITIONS
          FIGURE 58 PROTERRA: SWOT ANALYSIS
     18.4 VDL GROEP
          FIGURE 59 VDL GROEP: COMPANY SNAPSHOT
          TABLE 164 VDL GROEP: NEW PRODUCT LAUNCHES/EXPANSIONS
          TABLE 165 VDL GROEP: PARTNERSHIPS/COLLABORATIONS/JOINT VENTURES/SUPPLY CONTRACTS/AGREEMENTS/MERGERS & ACQUISITIONS
          FIGURE 60 VDL GROEP: SWOT ANALYSIS
     18.5 AB VOLVO
          FIGURE 61 AB VOLVO: COMPANY SNAPSHOT
          TABLE 166 AB VOLVO: PRODUCTS OFFERED
          TABLE 167 AB VOLVO: NEW PRODUCT DEVELOPMENTS/EXPANSIONS
          TABLE 168 AB VOLVO: PARTNERSHIPS/COLLABORATIONS/JOINT VENTURES/SUPPLY CONTRACTS/ AGREEMENTS/MERGERS & ACQUISITIONS
          FIGURE 62 AB VOLVO: SWOT ANALYSIS
     18.6 DAIMLER AG
          FIGURE 63 DAIMLER AG: COMPANY SNAPSHOT
          TABLE 169 DAIMLER AG: PRODUCTS OFFERED
          TABLE 170 DAIMLER AG: NEW PRODUCT DEVELOPMENTS/EXPANSIONS
          TABLE 171 DAIMLER AG: PARTNERSHIPS/COLLABORATIONS/JOINT VENTURES/ SUPPLY CONTRACTS/AGREEMENTS/MERGERS & ACQUISITIONS
     18.7 NFI GROUP
          FIGURE 64 NFI GROUP: COMPANY SNAPSHOT
          TABLE 172 NFI GROUP: PRODUCTS OFFERED
          TABLE 173 NFI GROUP: NEW PRODUCT DEVELOPMENTS/EXPANSIONS
          TABLE 174 NFI GROUP: PARTNERSHIPS/COLLABORATIONS/JOINT VENTURES/SUPPLY CONTRACTS/AGREEMENTS/MERGERS & ACQUISITIONS
     18.8 CAF
          FIGURE 65 CAF: COMPANY SNAPSHOT
          TABLE 175 CAF: PRODUCT OFFERINGS
          TABLE 176 CAF: NEW PRODUCT DEVELOPMENTS/EXPANSIONS
          TABLE 177 CAF: PARTNERSHIPS/COLLABORATIONS/JOINT VENTURES/CONTRACTS & AGREEMENTS/MERGERS & ACQUISITIONS
     18.9 EBUSCO B.V.
          TABLE 178 EBUSCO B.V.: PRODUCTS OFFERED
          TABLE 179 EBUSCO B.V.: NEW PRODUCT DEVELOPMENTS
          TABLE 180 EBUSCO B.V.: PARTNERSHIPS/COLLABORATIONS/JOINT VENTURES/ SUPPLY CONTRACTS/AGREEMENTS/MERGERS & ACQUISITIONS
     18.10 KING LONG
           TABLE 181 KING LONG: PRODUCTS OFFERED
           TABLE 182 KING LONG: NEW PRODUCT DEVELOPMENTS/EXPANSIONS
           TABLE 183 KING LONG: PARTNERSHIPS/COLLABORATIONS/JOINT VENTURES/SUPPLY CONTRACTS/AGREEMENTS/MERGERS & ACQUISITIONS
     18.11 ANKAI
           TABLE 184 ANKAI: PRODUCTS OFFERED
           TABLE 185 ANKAI: EXPANSIONS
     18.12 ZHONGTONG BUS HOLDING
           TABLE 186 ZHONGTONG BUS HOLDING: PRODUCTS OFFERED
           TABLE 187 ZHONGTONG BUS HOLDING: EXPANSION
           TABLE 188 ZHONGTONG BUS HOLDING: PARTNERSHIPS/COLLABORATIONS/JOINT VENTURES/SUPPLY CONTRACTS/AGREEMENTS/MERGERS & ACQUISITIONS
*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 BV
                        18.13.3.4 Arrival

19 APPENDIX (Page No. - 244)
     19.1 KEY INSIGHTS OF INDUSTRY EXPERTS
     19.2 DISCUSSION GUIDE
     19.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
     19.4 AVAILABLE CUSTOMIZATIONS
     19.5 RELATED REPORTS
     19.6 AUTHOR DETAILS

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 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 size of the global electric commercial vehicle market. In these approaches, the vehicle sales statistics for each vehicle type (Electric Vans, Electric Bus, Electric Trucks and Electric Pick-up Trucks) at a country level were considered.

Electric Commercial Vehicle Market Size, and Share

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

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
    • By propulsion type [battery electric vehicle (BEV), plug-in hybrid electric vehicle (PHEV), and fuel cell electric vehicle (FCEV)]
    • By vehicle type [bus, truck, pick-up truck (medium and heavy-duty trucks), and van]
    • By range (less than 150 miles, 150−300 miles, and above 300 miles)
    • By battery type [lithium-iron-phosphate (LFP), lithium-nickel-manganese-cobalt oxide (NMC), and others]
    • By length of bus (less than 9m, 9−14m, and more than 14m)
    • By power output (less than 100 KW, 100−250 KW, and above 250 KW)
    • By battery capacity (less than 50 kWh, 50−250 kWh, and above 250 kWh)
    • By end user (last mile delivery, field services, distribution services, long haul transportation and refuse services)
  • To provide qualitative information
    • By component (electric motor, EV battery, and hydrogen fuel cell stack)
    • By autonomous vehicle (electric autonomous truck and electric autonomous bus)
  • 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 the market growth (drivers, challenges, restraints, and opportunities)
  • To strategically analyze markets with respect to individual growth trends, prospects, and contribution to the total market

Available Customizations

With the given market data, MarketsandMarkets offers customizations in accordance to the 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)
COVID-19

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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Report Code
AT 6196
Published ON
Dec, 2020
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