Electric Commercial Vehicle Market Trends, Demand, Scope & Regional Outlook by 2025
The global electric commercial vehicle market exhibited strong growth during 2014-2019. Looking forward, IMARC Group expects the global market to continue its moderate growth during 2020-2025. Electric commercial vehicles refer to self-propelling automobiles that are designed to operate on battery-based electric engines. These vehicles include numerous low- to heavy-duty automobiles, such as buses, vans, trucks, tractors, harvesters and loaders. Widely used for transporting goods as well as passengers, these vehicles are characterized by several operational benefits and low maintenance costs. Consequently, they find numerous applications across the agriculture, mining, logistics and construction sectors.
The electric commercial vehicle market is primarily driven by the increasing demand for eco-friendly commercial vehicles across numerous industries. These electric commercial vehicles are mostly powered by unconventional power sources, such as rechargeable batteries or solar panels, thereby providing a boost to their sales across the globe. This is further supported by the implementation of several favorable governmental regulations that promote the use of electric vehicles. Various governments are now offering tax rebates and subsidies for purchasing these vehicles, which is acting as another major growth-inducing factor. Some of the other factors contributing to the market growth include the increasing focus on electrification of public transport fleets and rising investments for the upgradation of electric vehicle (EV) charging infrastructures.
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Electric Commercial Vehicle Market 2020-2025 Competitive Analysis and Segmentation:
The competitive landscape of the electric commercial vehicle market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- AB Volvo
- Anhui Ankai Automobile Co. Ltd.
- BYD Company Ltd.
- Construcciones y Auxiliar de Ferrocarriles S.A.
- Daimler AG
- Ebusco B.V.
- King Long United Automotive Industry Co. Ltd
- NFI Group Inc.
- Proterra Inc.
- VDL Groep B.V.
- Zhengzhou Yutong Bus Co. Ltd.
- Zhongtong Bus Holding Co. Ltd.
The report has segmented the global electric commercial vehicle market on the basis of vehicle type, propulsion type, application, battery type, battery capacity and region.
Breakup by Vehicle Type:
- Electric Bus
- Electric Pickup Truck
- Electric Truck
- Electric Van
Breakup by Propulsion Type:
Breakup by Application:
Breakup by Battery Type:
- Lithium-Nickel-Manganese-Cobalt Oxide Batteries
- Lithium-Iron-Phosphate Batteries
Breakup by Battery Capacity:
- Less Than 50 kWh
- 50-250 kWh
- Above 250 kWh
Breakup by Region:
- North America
- United States
- Asia Pacific
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
- Saudi Arabia
Explore report description with table of contents: https://www.imarcgroup.com/electric-commercial-vehicle-market
Key highlights of the report:
- Market Performance (2014-2019)
- Market Outlook (2020- 2025)
- Market Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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