Electric Commercial Vehicle Market

Electric Commercial Vehicle - Global Market Outlook (2019-2027)

4.8 (19 reviews)
Published: March 2021 ID: SMRC20361
4.8 (19 reviews)
Published: March 2021 ID: SMRC20361

This report covers the impact of COVID-19 on this global market

According to Stratistics MRC, the 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. However, the high development cost of vehicles, the limited amount of capacity of batteries, and the deficiencies in charging infrastructure are restraining the market growth.

An electric commercial vehicle is an automobile that can be driven by one or more motors operated by electricity. Electric commercial vehicles are used for transportation that helps to reduce greenhouse gas releases and pollution. These vehicles are electrically powered, self-propelled, and work with the help of both electric motors working in tandem. Electric commercial vehicles are used for the delivery of goods and transport and have the potential to significantly reduce per-mile operational and maintenance costs.

Based on the vehicle type, the electric van segment is going to have high growth during the forecast period due to the high demand and usage of electric vans in the logistics and e-commerce sectors that would minimize the cost of transportation. Many leading logistics companies in developed countries have started using electric vans for shipping and delivery purposes. 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:
• 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

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan       
o China       
o India       
o Australia 
o New Zealand
o South Korea
o Rest of Asia Pacific   
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

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