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  • Electric Commercial Vehicle Market | Current Trends | Future Opportunities by 2027

    (, November 26, 2019 ) According to the new market research report "Electric Commercial Vehicle Market by Propulsion Type, Vehicle Type, Range, Battery Type, Length of Bus, Power Output Type, Battery Capacity Type, Component Type, Autonomous Vehicles Type, and Region - Global Forecast to 2027", published by MarketsandMarkets, The Electric Commercial Vehicle Market is projected to grow from 261 thousand units in 2020 to reach 1,890 thousand units by 2027, at a CAGR of 32.7%.

    Browse and in-depth TOC on "Electric Commercial Vehicle Market"
    137 - Tables
    53 - Figures
    170 - Pages

    The growth of the Electric Commercial Vehicle Market can be attributed to the increasing focus of countries on the electrification of their public transport fleets and the increasing demand for zero-emission vehicles in the logistics sector. Advancements in battery pack technologies and electric powertrains are some of the major factors driving the growth of the electric commercial vehicle industry.

    Factors such as a rise in pollution and environmental hazards, stringent government regulations, and stiff competition have compelled automotive OEMs to make fuel-efficient and environment-friendly vehicles. Thus, the Electric Commercial Vehicle Market is expected to witness significant growth in the future.

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    The Asia Pacific is expected to lead the global market during the forecast period

    The Asia Pacific region is the largest Electric Commercial Vehicle Market in the world. It comprises some of the fastest developing and developed economies in the world, such as China, India, and Japan. The market growth in the region can be attributed to the dominance of the Chinese market in the electric bus segment and the presence of market-leading OEMs in the country as well, resulting in the exponential growth of Electric Commercial Vehicle Market in the Asia Pacific. The large demand for electric buses, favorable regulations for electric commercial vehicles, and the rapidly growing logistics sector are expected to boost the Electric Commercial Vehicle Market in the region.

    The electric van segment is expected to grow at the highest CAGR

    The electric van segment is expected to be the fastest market as there is a high demand for electric vans from the logistics sector, especially in the European region. The increasing demand for electric vans in the logistics sector and focus on the electrification of public transport fleet are driving the Electric Commercial Vehicle Market in Europe. The growth of the logistics and e-commerce sectors is expected to drive the market for electric vans during the forecast period. The usage of electric vans in the logistics sector would minimize the cost of transportation. Many leading logistics companies in Europe and North America have started using electric vans for shipping and delivery purposes. For instance, DHL, one of the leading logistics companies in the world, is using electric vans in some parts of the European region.

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    Europe: France is expected to lead the European market

    The European region is projected to be the fastest-growing market during the forecast period. The region is a hub to major players such as AB Volvo (Sweden), VDL Bus and Coach (Netherlands), Daimler (Germany), CAF (Spain), EBUSCO (Netherlands), Scania (Sweden), and Emoss Mobile Systems (Netherlands). Europe is a key region for innovations; significant R&D; and technological advancements in electric vehicles, battery technologies, and charging solutions.

    France is the largest market in Europe, followed by Germany. France, which is one of the largest automotive hubs in the European region, is home to many established OEMs providing electric vehicles and also has a higher adoption rate for electric commercial vehicles.

    The global Electric Commercial Vehicle Market is dominated by major players such as BYD (China), Yutong (China), Proterra (US), VDL Groep (Netherlands), and AB Volvo (Sweden).

    Browse Related Reports:

    Electric Vehicle Market by Vehicle (Passenger Cars & Commercial Vehicles), Vehicle Class (Mid-priced & Luxury), Propulsion (BEV, PHEV & FCEV), EV Sales (OEMs/Models) Charging Station (Normal & Super) & Region - Global Forecast to 2030

    Wireless EV Charging Market by Charging Station (Home, Commercial), Charging (Stationary, Dynamic), Propulsion (BEV, PHEV), Power Supply (350 KW), Vehicle (CV, 2 wheeler), Component, Installation, and Region - Global Forecast to 2025

    About MarketsandMarkets

    MarketsandMarkets provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets for their painpoints around revenues decisions.

    Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, and strategic players) annually in high growth emerging segments. MarketsandMarkets is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

    MarketsandMarketss flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

    Mr. Shelly Singh
    MarketsandMarkets INC.
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    Mr. Shelly Singh


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