Electric Commercial Vehicle Market

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

Report Code: AT 6196 Feb, 2024, by marketsandmarkets.com

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

Electric Commercial Vehicle Market

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Electric Commercial Vehicle Market Opportunities

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Market Dynamics
:

Driver: Rising Fossil Fuel Prices

As the cost of traditional fuels such as gasoline and diesel continues to escalate, businesses are faced with mounting operational expenses, particularly those reliant on large fleets of vehicles for transportation and logistics. This upward trend in fuel prices underscores the financial benefits of transitioning to electric vehicles, which offer substantially lower operating costs over their lifespan. ECVs rely on electricity as their primary source of power, which tends to be more stable in terms of pricing compared to fossil fuels. Therefore, businesses seeking to mitigate the impact of volatile fuel prices on their bottom line are increasingly turning to ECVs as a cost-effective alternative.

Moreover, the uncertainty surrounding future fossil fuel prices, exacerbated by geopolitical tensions and supply chain disruptions, further incentivizes businesses to invest in ECVs as a long-term strategy for cost savings and financial stability. Unlike traditional vehicles whose fuel costs are subject to market fluctuations and geopolitical risks, ECVs offer a more predictable and sustainable solution for managing transportation expenses. By reducing dependence on fossil fuels, businesses can insulate themselves from the adverse effects of fuel price volatility and achieve greater control over their operating expenses, thus driving the accelerated adoption of ECVs in commercial fleets.

Restraint: High Development Cost

Developing electric vehicle technology requires substantial research, development, and manufacturing infrastructure investment. This includes investments in battery technology, electric drivetrains, charging infrastructure, and other components unique to electric vehicles. These upfront costs pose a barrier to entry for many manufacturers, particularly smaller companies without the financial resources to fund extensive research and development efforts. As a result, the initial cost of ECVs tends to be higher compared to their conventional counterparts, making them less accessible to businesses operating on tighter budgets.

Additionally, the high development costs of ECVs can deter investment in scaling up production capacity, further limiting the availability of electric vehicles in the market. Manufacturers must recoup their development expenses through sales, which can prolong the time it takes for ECVs to reach price parity with traditional vehicles. This cost disparity may dissuade businesses from transitioning to electric fleets, especially if the return on investment is too long-term or uncertain. Consequently, despite the long-term cost savings associated with operating ECVs, the high initial investment required for development and production remains a significant restraining factor in the broader adoption of electric commercial vehicles.

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

Wireless charging eliminates the need for physical connections between the vehicle and the charging infrastructure, offering greater convenience and flexibility for fleet operators. This technology enables ECVs to charge automatically while parked or idling, minimizing downtime and maximizing operational efficiency. For businesses with large fleets, such as delivery services or public transportation agencies, wireless charging offers a seamless and hassle-free solution for keeping vehicles powered throughout the day, thereby enhancing productivity and reducing operational costs.

Moreover, wireless charging technology addresses some of the key challenges associated with the adoption of ECVs, such as range anxiety and limited charging infrastructure. By enabling continuous charging without the need for frequent stops at charging stations, wireless charging systems can extend the driving range of ECVs and alleviate concerns about battery range limitations. This increased range and flexibility make ECVs more practical and appealing for a wider range of applications, including long-haul transportation and urban delivery services. As wireless charging technology continues to advance and become more widespread, it has the potential to accelerate the adoption of ECVs and drive their growth in the commercial vehicle market.

Challenge: Low availability of lithium for EV batteries

The limited availability of lithium-ion batteries poses a significant challenge to the growth of Electric Commercial Vehicles (ECVs). As the demand for electric vehicles continues to rise globally, there is increasing pressure on the supply chain for key components, particularly lithium-ion batteries. These batteries are essential for powering ECVs and are also used in various other applications, such as consumer electronics and renewable energy storage. However, the production capacity for lithium-ion batteries has not kept pace with the rapid growth in demand, leading to supply shortages and price volatility. This scarcity of batteries has resulted in longer lead times for manufacturers and increased costs for vehicle producers, hindering their ability to scale up production and meet market demand for ECVs.

Furthermore, the low availability of lithium-ion batteries has implications for the affordability and accessibility of ECVs, particularly for small and medium-sized businesses. The limited supply drives up the cost of batteries, which in turn increases the overall cost of electric vehicles. As a result, businesses may face higher upfront expenses when purchasing ECVs or encounter delays in acquiring vehicles due to production constraints. Additionally, the reliance on a single type of battery technology raises concerns about supply chain resilience and dependency on specific raw materials, such as lithium and cobalt, which are subject to geopolitical and environmental risks. Addressing the challenge of battery availability will be crucial for unlocking the full potential of ECVs and accelerating their adoption in the commercial vehicle market.

Market Ecosystem

Top Companies in Electric Commercial Vehicle Market

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

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

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

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

Asia Pacific is the largest market for Electric Commercial Vehicle during the forecast period.

The Asia Pacific region is projected to be the largest ECV market by 2030. The Asia Pacific market is dominated by China, which has large sales volumes for electric commercial vehicles, especially electric buses. With favorable government regulations and the increasing adoption of electric buses in public transport fleets, India is expected to be a high-potential market for electric commercial vehicles in the future. Asia Pacific is home to many OEMs, especially Chinese companies, dominating the global electric commercial vehicle market. Japanese companies also play a vital role in automotive technological developments in Asia Pacific. For instance, in May 2023, Toyota Motor Corporation (Japan) collaborated with PACCAR Inc. (US) to expand their joint efforts to develop and produce hydrogen fuel cell (FCEV) Kenworth and Peterbilt trucks, which are powered by Toyota hydrogen fuel cell modules. All such developments in the region will drive the market for electric commercial vehicles during the forecast period.

In North America, federal and state governments are offering incentives to promote the adoption of electric vehicles, including commercial vehicles. These incentives include tax credits, rebates, grants, and infrastructure investments. For instance, the US federal government's investments in charging infrastructure and tax incentives for EV purchases have stimulated growth in the electric commercial vehicle market.

North American Electric Commercial Vehicle Market Size, and Share

Key Market Players

The Electric Commercial Vehicle market is dominated by established players such as BYD (China), Mercedes-Benz Group AG (Germany), Yutong (China), AB Volvo (Sweden), and Ford Motor Company (US) and others. These companies manufacture and develop new ECVs as per the market requirement. These companies adopted strategies such as product developments, deals, and others to gain traction in the market.

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Scope of the Report

Report Metric

Details

Market size available for years

2019–2030

Base year considered

2023

Forecast period

2024-2030

Forecast units

Volume (Million Units) and Value (USD Million)

Segments Covered

Vehicle type, Propulsion Type, Range, Battery Type, Power Output, Battery Capacity, Component, End User, Body Construction and Region

Geographies covered

Asia Pacific, Europe, and North America

Companies Covered

BYD (China), Mercedes-Benz Group AG (Germany), Yutong (China), AB Volvo (Sweden) and Ford Motor Company (US)
A total of 27 major company profiles were covered and provided.

This research report categorizes the Electric Commercial Vehicle market based on Vehicle type, Propulsion Type, Range, Battery Type, Power Output, Battery Capacity, Component, End User, Body Construction and Region.

Based on Vehicle Type:
  • Pickup Trucks
  • Trucks (Medium-duty Trucks and Heavy-duty Trucks)
  • Vans (Light Vans and Full-size Vans)
  • Buses & Coaches
Based on Propulsion:
  • BEV
  • FCEV
Based on Battery Type:
  • LFP Batteries
  • NMC Batteries
  • Solid-state Batteries
  • Others
Based on Battery Capacity:
  • Less than 60 kWh
  • 60−120 kWh
  • 121−200 kWh
  • 201−300 kWh
  • 301−500 kWh
  •  501−1,000 kWh
Based on Power Output:
  • Less than 100 kW
  • 100−250 kW
  • Above 250 kW
Based on Range:
  • Less than 150 Miles
  • 151−300 Miles
  • Above 300 Miles 100−250 kW
Based on End Use:
  • Last-mile Delivery
  • Field Services
  • Distribution Services
  • Long-haul Transportation
  • Refuse Trucks
Based on Body Construction:
  • Integrated
  • Semi-integrated
  • Full-sized
Based on Component:
  • Battery Packs
  • Onboard Chargers
  • Electric Motors
  • Inverters
  • DC-DC Converters
  • E-Axels (Including Gearboxes)
  • Fuel-cell Stacks
Based on the region:
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • North America
    • Canada
    • US
  • Europe
    • Austria
    • France
    • Germany
    • Netherlands
    • Norway
    • Spain
    • Sweden
    • Italy
    • UK
    • Others

Recent Developments

  • In January 2024, Dongfeng Motor Corporation (Dongfeng) and Huawei Technologies Co., Ltd. (Huawei) entered into a partnership to collaborate on Dongfeng’s Voyah brand of “new energy” vehicles. Through this partnership, Dongfeng will include various Huawei technologies in its vehicles, such as autonomous driving and infotainment software.
  • In January 2024, Tesla, Inc. announced its plan to set up a factory in India and may invest USD 30 billion over the next 5 years.
  • In October 2023, The Infrastructure & Transport Ministry of Greece signed a contract with Yutong for 250 e-buses. This contract will facilitate green and sustainable development and improve public transport conditions in Greece.
  • In June 2023, Ford Motor Company opened the Electric Vehicle Center, an electric vehicle production facility in Germany, to serve the European markets.
  • In May 2023, Mercedes-Benz Group AG released the EQT van (Electric Van), which is equipped with a 90-kW electric motor, two sliding doors, the MBUX infotainment system, and numerous safety and assistance systems.
  • In May 2023, AB Volvo launched an Augmented Reality (AR) safety app for electric trucks designed to support responders in an emergency. The app provides valuable real-time information from the electric truck to guide emergency services for safe rescue operations.
  • In April 2023, Scania AB launched an all-electric car transporter with a GVWR of 42 tons and a battery capacity of 230 kWh.

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

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

Secondary Research

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

Primary Research

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

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

Electric Commercial Vehicle  Market Size, and Share

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

Market Size Estimation

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

Electric Commercial Vehicle  Market Bottom Up Approach

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

Electric Commercial Vehicle  Market Top Down Approach

Data Triangulation

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

Market Definition

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

List of Key Stakeholders

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

Report Objectives

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

Available Customizations

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

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

We will customize the research for you, in case the report listed above does not meet with your exact requirements. Our custom research will comprehensively cover the business information you require to help you arrive at strategic and profitable business decisions.

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