Global Electric Commercial Vehicle Market by Size, Share and Forecasts

Report Details-

Global Electric Commercial Vehicle Market, By 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) – Industry Trends and Forecast to 2029

Market Analysis and Size

Electric commercial vehicles have gained immense popularity as an eco-friendly alternative to gasoline-powered vehicles. These vehicles provide operational benefits and low maintenance costs in the commercial sector. Electric commercial vehicles are widely adopted across several industries, including logistics, mining, and construction.

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.

Restraints/Challenges faced by the Electric Commercial Vehicle Market

On the other hand, high initial investments for installing EV fast charging infrastructure and lack of sufficient EV charging infrastructure are expected to obstruct market growth. Also, high cost of vehicles and insufficient standardization of EV charging infrastructure are projected to challenge the electric vehicle market in the forecast period of 2022-2029.

This electric commercial vehicle market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the electric commercial vehicle market contact Data Bridge Market Research for an Analyst Brief. Our team will help you take an informed market decision to achieve market growth.

COVID-19 had a Major Impact on Electric Commercial Vehicle Market

The COVID-19 had a negative impact on the electric commercial vehicle market owing to the strict lockdowns and social distancing to contain the spread of the virus. The economic uncertainty, partial shutdown of the business and low consumer confidence impacted demand electric commercial vehicle. The supply chain got hampered during the pandemic along with delay logistics activities. However, the electric commercial vehicle market is expected to regain its pace during the post pandemic scenario due to the easing on the restrictions.

Recent Developments

• BYD launched an electric van model ETP3 possessing a 50.3 kWh NMC battery in December’2021. This electric van is 4.46-meter-long having a payload capacity of 720 kg with a range of 269 km.

• AB Volvo launched an enhanced version of Volvo VNR Electric in January’2022. This version is known to possess 85% increased range and faster charging.

Electric Commercial Vehicle Market Regional Analysis/Insights

The electric commercial vehicle is analyzed and market size insights and trends are provided by country, propulsion, vehicle, range and component.

The countries covered in the electric commercial vehicle report are the U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).

North America dominates the electric commercial vehicle because of the introduction of advanced technology along with rising number of research and development activities within the region.

Asia-Pacific (APAC) is expected to witness significant growth during the forecast period of 2022 to 2029 due to the prevalence of incentives in the form of subsidies from the government for the adoption of electric vehicle in the region.

Access Full Report:- https://www.databridgemarketresearch.com/reports/global-electric-commercial-vehicle-market

Competitive Landscape and Electric Commercial Vehicle Market Share Analysis

The electric commercial vehicle competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to electric commercial vehicle

Some of the major players operating in the electric commercial vehicle are

• 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)

Request Access for Sample Report:-https://www.databridgemarketresearch.com/request-a-sample/?dbmr=global-electric-commercial-vehicle-market

Major TOC of the Report

· INTRODUCTION

· MARKET SEGMENTATION

· MARKET OVERVIEW

· EXECUTIVE SUMMARY

Get TOC of the Report:- https://www.databridgemarketresearch.com/toc/?dbmr=global-electric-commercial-vehicle-market

About Us:

Data Bridge Market Research set forth itself as an unconventional and neoteric Market research and consulting firm with unparalleled level of resilience and integrated approaches. We are determined to unearth the best market opportunities and foster efficient information for your business to thrive in the market

Contact:

Data Bridge Market Research

Tel: +1-888-387-2818

Email: Sopan.gedam@databridgemarketresearch.com

Browse Related Reports@

Global Electrophoresis Reagents Market

Global Flow Cytometry Market

North America Flow Cytometry Market

Europe Flow Cytometry Market

Tags- Global Electric Commercial Vehicle Market, Automotive,