Electric Commercial Vehicle Market Growth Register 29.90% CAGR Reaching Global Worth of 54.29 billion USD by 2030 | MRFR Comprehensive Insights 2023

Electric Commercial Vehicle Market Research Insights

According to MRFR analysis, the global Electric Commercial Vehicle Market is expected to register a CAGR of 29.90% from 2022 to 2030 and hold a value of over USD 54.29 billion by 2030.

An electric commercial vehicle can run on electricity either totally or partially in place of diesel or gasoline. Due to their cheap maintenance costs and minimal or nonexistent usage of fossil fuels, commercial electric vehicles are also particularly environmentally benign (petrol or diesel). Fleets of cars powered by renewable resources are the current trend for governmental authorities, non-profit organizations, and many commercial firms encouraging sustainable development. Over the past few years, initiatives for technical advances and innovation in transportation have grown.

Key Growth Dynamics        

• Increasing logistics activities
• Initiatives by the government to promote the use of Electric commercial vehicles with low cost of operation

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Electric Commercial Vehicle Market Segmentation                 

The Global Electric Commercial Vehicle Market has been segmented into Vehicle Type, Component, and Propulsion

Based on the Vehicle Type, the market has been segmented into Buses, Trucks, and Others.

Based on the Component, the market has been segmented into Electric Motors, Electric Vehicle Batteries, Hydrogen Fuel Cells, and Others.

Based on the Propulsion, the market has been segmented into BEV, HEV, PHEV, and FCEV.

Electric Commercial Vehicle Market Key Players

Some of the key market players are,

• Tesla (US)
• Nissan (Japan)
• BYD (China)
• Daimler (Germany)
• Proterra (US)
• LG Chem (South Korea)
• Zhong tong Bus Holding Co Ltd (China)
• Panasonic (Japan). 
• Delphi (US)
• ABB (Switzerland)
• Continental (Germany)
• Siemens (Germany)
• Mitsubishi Electric (Japan)
• Toshiba (Japan)
• Ballard Power Systems (Canada)

Electric Commercial Vehicle Market Regional Analysis

A large segment of the market is controlled by Asia-Pacific. Due to the increasing demand for electric buses and the government-led measures to encourage the development of electric cars in nations such as Japan, China, and India, the market for commercial electric vehicles in the Asia-Pacific region is anticipated to increase dramatically. The market is expanding in this region as a consequence of rising demand for the construction of charging infrastructure and growing regional OEM partnerships.

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TABLE OF CONTENTS

1 EXECUTIVE SUMMARY

1.1 MARKET ATTRACTIVENESS ANALYSIS

1.1.1 GLOBAL ELECTRIC COMMERCIAL VEHICLE MARKET, BY TECHNOLOGY

1.1.2 GLOBAL ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE

1.1.3 GLOBAL ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION

2 MARKET INTRODUCTION

2.1 DEFINITION

2.2 SCOPE OF THE STUDY

2.3 MARKET STRUCTURE

3 RESEARCH METHODOLOGY

3.1 RESEARCH PROCESS

3.2 PRIMARY RESEARCH

3.3 SECONDARY RESEARCH

3.4 MARKET SIZE ESTIMATION

3.5 TOP-DOWN AND BOTTOM-UP APPROACH

3.6 FORECAST MODEL

3.7 LIST OF ASSUMPTIONS

4 MARKET DYNAMICS

4.1 INTRODUCTION

4.2 DRIVERS

4.2.1 GOVERNMENT INITIATIVES TO ENCOURAGE ADOPTION OF ELECTRIC COMMERCIAL VEHICLES

4.2.2 LOW OPERATING COST

4.2.3 DRIVERS IMPACT ANALYSIS

4.3 RESTRAINTS

4.3.1 UNDERDEVELOPED CHARGING INFRASTRUCTURE AND POOR AFTERMARKET SERVICES

4.3.2 HIGH PRICE AND LIMITED CAPACITY OF BATTERIES

4.3.3 RESTRAINTS IMPACT ANALYSIS

4.4 OPPORTUNITIES

4.4.1 INCREASING LOGISTIC ACTIVITIES

4.4.2 GROWTH IN DEMAND WITHIN FLEETS

4.5 COVID-19 IMPACT ANALYSIS

4.5.1 ECONOMIC IMPACT ON AUTOMOTIVE INDUSTRY

4.5.2 IMPACT ON AUTOMOTIVE PRODUCTION

4.5.2.1 FORD

4.5.2.2 AMERICAN HONDA

4.5.2.3 FCA

4.5.2.4 KIA

4.5.2.5 VOLKSWAGEN

4.5.3 IMPACT ON ELECTRIC COMMERCIAL VEHICLE MARKET

4.5.3.1 IMPACT ON SUPPLY CHAIN

4.5.3.2 CASH FLOW CONSTRAINTS

4.5.4 IMPACT ON WORLD TRADE

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5 MARKET FACTOR ANALYSIS

5.1 PORTER’S FIVE FORCES MODEL

5.1.1 THREAT OF NEW ENTRANTS

5.1.2 BARGAINING POWER OF SUPPLIERS

5.1.3 THREAT OF SUBSTITUTES

5.1.4 BARGAINING POWER OF BUYERS

5.1.5 INTENSITY OF RIVALRY

…Continued.

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