Global Electric Commercial Vehicle market is accounted for $47.88 billion in 2019 and is expected to reach $629.85 billion by 2027 growing at a CAGR of 38.0% during the forecast period. Increased focus of government on electrification of public transport fleets, rising awareness about environment-friendly vehicles, and increase in demand for zero-emission vehicles in the eCommerce and logistics sector are the major factors driving the market growth.
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By geography, North America is going to have lucrative growth during the forecast period due to the high acceptance of electric vans and the large order of electric pick-up trucks. The region has seen a rise in demand for low-emission and fuel-efficient vehicles due to strict emission standards and the increasing logistics sector and the presence of supporting infrastructures, such as free charging stations and parking allotments.
Some of the key players profiled in the Electric Commercial Vehicle Market include Daimler AG, Ford Motor Co., Honda, Hydrogenics, Hyundai Motor Co., Mitsubishi Electric, Navistar International Corp. , Nissan Motor Co. Ltd., Panasonic, Plug Power, Samsung SDI, Tata Motors Ltd., Tesla Inc., Toshiba and Toyota Motor Corp.
Components Covered in Electric Commercial Vehicle Market
• Electric Motor
• Electric Vehicle (EV) Battery
• Hydrogen Fuel Cell
Ranges Covered:
• 0-150 Miles
• 151-250 Miles
• 251-500 Miles
• 500 Miles & Above
Lengths of Buses Covered:
• Less than 9m
• 9-14m
• Above 14m
Propulsion Types Covered:
• Plug in Hybrid Electric Vehicle (PHEV)
• Fuel Cell Electric Vehicle (FCEV)
• Battery Electric Vehicle (BEV)
• Hybrid Electric Vehicle (HEV)
Vehicle Types Covered:
• Electric Bus
• Electric Truck (Medium and Heavy Duty Trucks)
• Electric Pick-Up Truck
• Electric Van
Products Covered:
• Light Commercial Vehicles (LCVs)
• Medium Commercial Vehicles
• Heavy Commercial Vehicles
Battery Capacities Covered:
• Less than 50 kWh
• 50−250 kWh
• Above 250 kWh
Power Outputs Covered:
• Less than 100 KW
• 100−250 KW
• Above 250 KW
Applications Covered:
• Commercial
• Private
• Cargo
• Passenger Transport
Battery Types Covered:
• Lithium-Iron-Phosphate (LFP)
• Lithium-Nickel-Manganese-Cobalt Oxide (NMC)
Autonomous Vehicles Covered:
• Electric Autonomous Truck
• Electric Autonomous Bus
Charging Infrastructures Covered:
• Pantograph
• Plug-In
• Inductive
Haulages Covered:
• Urban
• Regional
• Long-Haul Cycles
End Users Covered:
• Last Mile Delivery
• Distribution Service
• Field Service
• Refuse Service
• Long Haul Transportation
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