Market Analysis and Size
Global Electric Commercial Vehicle Market was valued at USD 67.51 billion in 2021 and is expected to reach USD 1016.41 billion by 2029, registering a CAGR of 40.35% during the forecast period of 2022-2029. Battery Electric Vehicles (BEVs) account for the largest propulsion type segment in the respective market due to the government's availability of subsidies and support. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Market Definition
The electric commercial vehicle is an automobile which can be driven by one or more motors operated by electricity. These automobiles are not limited to only roads and rail vehicles but these automobiles are made for surface and underwater vessels, electric aircraft and electric spacecraft.
Report Scope and Market Segmentation
REPORT METRIC | DETAILS |
Forecast Period | 2022 to 2029 |
Base Year | 2021 |
Forecast Period | 2022 - 2029 |
Historic Years | 2020 (Customizable to 2014 - 2019) |
Quantitative Units | Revenue in USD Billion, Volumes in Units, Pricing in USD |
Segments Covered | Propulsion (Battery Electric Vehicle, Hybrid Electric Vehicle and Plug-in Hybrid Electric Vehicle and Fuel Cell Electric Vehicle), Vehicle (Bus, Trucks, Pick-up Trucks and Van), Range (0-150 Miles, 151-250 Miles, 251-500 Miles, and 500 Miles Above), Component (Electric Motor, EV Battery and Hydrogen Fuel Cell) |
Countries Covered | U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa |
Market Players Covered | Ford Motor Company (US), General Motors (US), AUDI AG (Germany), Kia Motors Corporation (South Korea), Groupe Renault (France), Groupe PSA (France), SAIC Motor Corporation Limited (China), Tesla (US), Daimler AG (Germany), BMW AG (Germany), Hyundai Motor Company (South Korea), BYD Company Ltd. (China), Continental AG (Germany), TOYOTA MOTOR CORPORATION (Japan), Nissan Motor Co., LTD. (Japan), Volkswagen AG (Germany), AB Volvo (Sweden), Honda Motor Co., Ltd. (Japan), among others |
Market Opportunities |
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Electric Vehicle Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- Electric Vehicle (EV) Sales
The increase in the electric vehicle (EV) sales across the globe acts as one of the major factors driving the growth of electric commercial vehicle market. The consumer preference is rapidly inclining towards passenger and commercial electric vehicle (EV) due to the rising environmental consciousness.
- Digitalization of Vehicles
The rapid digitalization of vehicles accelerate the market growth. The need for achieving improved productivity, profitability at reduced costs and operational efficiency have a positive impact on the market. The surge in government funding on technological improvisation of these trucks and substantial infrastructure drives the market further.
According to the persuasive Electric Commercial Vehicle Market report, the key market players are making moves like product launches, joint ventures, developments, mergers, and acquisitions which has influence on the market and ABC Industry as a whole and also affecting the sales, import, export, revenue and CAGR values. The global market research report takes into account key product developments and tracks recent acquisitions, mergers and research in the AUTOMOTIVE industry by the top market players. An international Electric Commercial Vehicle Market business report provides the relevant information about specific niche and saves a lot of time that may otherwise get wasted for decision making.
Global Electric Commercial Vehicle Market Scope
The electric commercial vehicle market is segmented on the basis of propulsion, vehicle, range and component. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Propulsion
- Battery Electric Vehicle
- Hybrid Electric Vehicle
- Plug-in Hybrid Electric Vehicle
- Fuel Cell Electric Vehicle
Vehicle
- Bus
- Trucks
- Pick-up Trucks
- Van
Range
- 0-150 Miles
- 151-250 Miles
- 251-500 Miles
- 500 Miles
- Above
Component
- Electric Motor
- EV Battery
- Hydrogen Fuel Cell
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https://www.databridgemarketresearch.com/reports/global-electric-commercial-vehicle-market
- With an influential Electric Commercial Vehicle Market report, business can build a strong organization and make better decisions that take business on the right track. This report is a valuable source of assistance for companies and individuals that offers industry chain structure, business strategies and proposals for new project investments. The report introduces top to bottom evaluation of the Automotive industry including empowering technologies, key trends, market drivers, challenges, standardization, regulatory landscape, opportunities, future guide, value chain, ecosystem player profiles and strategies. This industry analysis report speaks in detail about the manufacturing process, type and applications.
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Major TOC of the Report
1 INTRODUCTION
2 MARKET SEGMENTATION
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
5 MARKET OVERVIEW
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https://www.databridgemarketresearch.com/toc/?dbmr=global-electric-commercial-vehicle-market
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