The global Electric Commercial Vehicle Market is forecasted to be worth USD 339.78 Billion by 2027, according to a current analysis by Emergen Research. The demand for these commercial cars has surged, and it is anticipated to soon overtake the ICE vehicle. […]
The global Electric Commercial Vehicle Market is forecasted to be worth USD 339.78 Billion by 2027, according to a current analysis by Emergen Research. The demand for these commercial cars has surged, and it is anticipated to soon overtake the ICE vehicle. Governments all over the world are investing heavily in the electric vehicle charging infrastructure to provide lucrative opportunities for the OEMs to expand their business as well as revenue. However, the growing cost required in the initial overhaul, investment, and maintenance is hampering the electric commercial vehicle market’s development.
Electric commercial vehicles may be beneficial in reducing the carbon footprints on the environment as they produce fewer emissions that are accountable for climate change and smog as compared to conventional vehicles. Presently, on the basis of the worldwide average carbon intensity of power generation, wheel-to-wheel emissions from an average electric commercial vehicle are lower as compared to an average ICE vehicle running on liquid/gaseous fuel blends.
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Key Highlights From The Report
- There is a growing demand for Electric Vehicle Battery systems and emission control systems due to the growing concern regarding the increasing pollution levels and the adverse effects of climate change. Hybrid systems of standard motors and Electric Vehicle Batteries are used by most hybrid vehicles.
- Battery electric vehicles (BEV) store electricity onboard with high-capacity battery packs. BEVs do not release any harmful emissions caused by traditional gasoline-powered vehicles. Battery Electric Vehicles are charged by electricity from an external source.
- The government is focusing on introducing an electric vehicle for public transportation. Several cities are running a fleet of electric buses to reduce the pollution level, and these vehicles also provide tremor free transportation, which improves customer satisfaction.
- Key participants include Yutong, BYD, VDL Groep, Proterra, AB Volvo, NFI Group, Daimler AG, King Long, Ebusco B.V., and Ankai, among others.
For the purpose of this report, Emergen Research has segmented into the global Electric Commercial Vehicle Market on the basis of component, propulsion type, vehicle type, battery type, range, end-user, and region:
- Component Outlook (Revenue, USD Billion; 2017-2027)
- Electric Motor
- Electric Vehicle Battery
- Hydrogen Fuel Cell
- Propulsion Type Outlook (Revenue, USD Billion; 2017-2027)
- Vehicle Type Outlook (Revenue, USD Billion; 2017-2027)
- Electric Bus
- Electric Truck (Medium and Heavy Duty Trucks)
- Electric Pick-up Truck
- Electric Van
- Battery Type Outlook (Revenue, USD Billion; 2017-2027)
- Lithium-iron-phosphate (LFP)
- Lithium-nickel-manganese-cobalt oxide (NMC)
- Range Outlook (Revenue, USD Billion; 2017-2027)
- less than 150 Miles
- 150-300 Miles
- Above 300 Miles
- End-User Outlook (Revenue, USD Billion; 2017-2027)
- Last-Mile Delivery
- Distribution Service
- Field Service
- Refuse Service
- Long Haul Transportation
Key Regions analyzed in the report include:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Key Factors influencing market remuneration:
- The global Electric Commercial Vehicle market report includes a detailed study of the product spectrum of the market and further describes the different product types, including One-sided, Two-sided, and Others.
- The report zeroes in on the overall market dynamics and presents information with regard to the producers and distributors, manufacturing cost structure, and downstream buyers.
- Details pertaining to the expected growth rate, industry share, revenue accumulated, and product segmentation are depicted in this report.
- The application landscape of the global Electric Commercial Vehicle market can be categorized into For Human, For Animals, and Others.
- The study further examines the industry share and product demand of each application, coupled with the predicted growth patterns of the various application segments.
- Other vital factors, such as market concentration ratio and raw material processing rate, have also been covered under the latest study.
Table of Content:
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.4. Research Sources
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Key Insights
Chapter 4. Electric Commercial Vehicle Market Segmentation & Impact Analysis
4.1. Electric Commercial Vehicle Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
184.108.40.206. Increasing demand for emission-free commercial vehicles
220.127.116.11. Government support for electric commercial vehicles
4.2.3. Market restraints analysis
18.104.22.168. High development cost
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
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