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Electric Commercial Vehicle Market
| Status : Published | Published On : Dec, 2023 | Report Code : VRAT4007 | Industry : Automotive & Transportation | Available Format :
|
Page : 236 |
Global Electric Commercial Vehicle Market – Analysis and Forecast (2025-2030)
Industry Insights by Component (Electric Motor, Hydrogen Fuel Cell, and EV Battery), by Range (0-150 Miles, 151-250 Miles, 251-500 Miles and 500 Miles & Above), by Propulsion Type (Battery, Plug-in Hybrid, Hybrid and Fuel Cell), by Power Output (Less than 100KW, 100-250KW, and Above 250 KW), by Vehicle Type ((Electric Bus, (Electric Van, (Electric Trucks, and (Electric Pick-up Trucks), by Cell Format (Pouch, Prismatic, and Round), by Battery Type (Lithium-iron-phosphate (LFP), Lithium-nickel-manganese-cobalt oxide (NMC), and others), by Battery Capacity (Less than 50kWh, 50-250 kWh, and Above 250kWh), and by Application (Last-Mile Delivery, Distribution Services, Field Service, Refuse Service, and Long Haul Transportation)
Industry Overview
At a CAGR of 24.6% Global Electric Commercial Vehicle, Market is predicted to grow and generate revenue of USD 2,418 billion by 2030 and presently the market is at USD 414.5 billion. The market growth is estimated to be inclined by the rise in demand for zero-emission vehicles, governments’ engagement, and automotive market key players’ moves towards electric vehicle manufacturing. The concern behind factors to participate in the growth plan of the global market of electric vehicles is to reduce its role in environmental pollution.
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OEMs are advancing their technologies to emit vehicle-generated emissions and introducing commercial electric cars including vans, buses, taxis, and trucks in addition to light electric vehicles. Asia-Pacific dominates the market in this regard and ASPAC segmented into China, India, Japan, and South Korea is attributed to contributing the highest to the global electric commercial vehicle market during the forecast period. Major industry players including BYD, AB Volvo, and VDL group are investing extensively in R&D to launch new pollution-free electric commercial vehicles in the global market.
Covid-19 Impact
The COVID-19 epidemic hit the market and presented difficulties for the whole automotive sector. Lockdowns in numerous countries restricted global automobile sales and impacted the whole supply chain. The COVID-19-affected global market for electric commercial vehicles is drawing increasing interest for its post-pandemic business dynamics. In the upcoming years, it is anticipated that the industry will progressively pick up the pace as businesses acquire impetus as a result of economic expansion.
Market Segment
Insight by Component
The Global Electric Commercial Market based on components covers the electric motor market, fuel cell market, and electric vehicle battery market. The electric vehicle battery market among all vehicle components dominates the electric commercial vehicle market with XX% share. The electric battery market is anticipated to expand significantly during the projected period and support the global commercial electric market growth plan of 2025-30. The Lithium-iron phosphate (LFP) battery and Nickel-manganese-cobalt (NMC) battery market will play a significant role during the forecasted tenure. The fuel cell market is also attributed to participating in the commercial vehicle growth plan and is predicted to have the strongest share in the forecasted CAGR.
Insight by Range
The electric commercial vehicle market is segmented based on range into three categories: 0-150 miles, 151-300 miles, and 300 miles and above. As it is employed in small trucks or vans for intercity or intracity transportation, 0-150 miles will command the market among all ranges. Additionally, commercial vehicles with a range of 300 miles or more will increase at the quickest rate in the electric commercial vehicle industry because of advancements in battery or motor technology.
Insight by Propulsion type
Based on propulsion, the global market of CEV is bifurcated into battery electric vehicle (BEV), plug-in hybrid electric vehicle (PHEV), hybrid electric vehicle (HEV), and fuel cell electric vehicle markets. The BEV currently holds the monopoly on the overall propulsion market and supports the highest eco-friendly car sales through subsidies and other financial incentives, and falling EV battery prices.
Due to many advantages over BEVs, including lower battery costs due to smaller battery sizes and longer driving range due to their internal combustion engine and liquid fuel tank, the PHEV is anticipated to see the quickest CAGR of about XXXX%. During the forecast period, the sector for fuel cell electric vehicles is also expected to develop at the highest CAGR. This market's explosive growth is largely attributed to rising consumer demand for low-carbon-emitting vehicles, stringent carbon-emitting morals, increasing focus on FCEV abandonment due to the advantages of quick refueling, and rising government enterprise and investments in fuel cell technology advancement.
Insight by power output
Based on range, the global market of the commercial market covers less up to 50 kW, 50-250 Kw, and above mile Kwh market. The mid-range (50-250 kWh) dominates the global CEV market and is expected to grow extensively during the forecast period. This segment has experienced rapid growth, which is primarily attributable to rising initiatives by top automakers to introduce potent electric vehicles, rising regulations to cut tailpipe emissions, rising adoption of electric vehicles in developed economies, and global government targets to phase out diesel vehicles by 2030.
Insight by Vehicle Type
The electric commercial vehicle market on the basis of vehicle type is divided into light commercial vehicles, e-scooters and bikes, two-wheelers, and passenger vehicles. In 2021, the passenger vehicle segment with the biggest revenue share dominated the entire electric commercial vehicle market. However, the biggest key player for this market segment to grow is the government. The government’s norms and investment supported the CEV market to step in and it is also anticipated to support the highest during the forecasted period. Additionally rising consumers’ interest and awareness of the E-vehicle segment is attributable to light commercial vehicles are expected to increase at the highest CAGR during the forecast period.
Insight by Cell Format
The electric commercial vehicle market is segmented into the pouch, prismatic, and circular categories based on cell format. Due to its high energy density compared to other types, round cells are predicted to have the quickest growth in the market for electric commercial vehicles over the projected period.
Insight by application
The electric vehicle market is divided into three categories based on application: industrial, commercial, and private. The sector for commercial use is anticipated to develop at the highest CAGR shortly. Due to rising fuel prices, tough immigration laws imposed by governments, an increase in the number of independent delivery vehicles, and the addition of electric motorcars and vehicles, this market segment is expected to grow rapidly. The government-imposed strict emigration morals, rising fuel prices, the growing abandonment of independent delivery trucks, and the growing abandonment of electric motorcars and vehicles are all factors contributing to the segment's quick growth.
Global Electric Commercial Vehicle Market Report Coverage
|
Report Metric |
Details |
|
Historical Period |
2018 - 2023 |
|
Base Year Considered |
2024 |
|
Forecast Period |
2025 - 2030 |
|
Market Size in 2023 |
U.S.D. 414.5 Billion |
|
Revenue Forecast in 2030 |
U.S.D. 2,418 Billion |
|
Growth Rate |
24.6% |
|
Segments Covered in the Report |
By Component, By Range,By Propulsion type,By power output,By Vehicle type,By Cell Format,By application |
|
Report Scope |
Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling |
|
Regions Covered in the Report |
North America, Europe, Asia-Pacific, Middle East, and the Rest of the World |
Industrial Dynamics
Growth Drivers
The market for electric commercial vehicles is primarily driven by the acceptance of electrification, falling battery prices, rapid uptake of electric buses and vans, government regulations favoring the demand for electric vehicles and the need for fuel-efficient vehicles, and government subsidies or tax breaks on e-vehicle purchases. Additionally, improvements in the automotive industry have sparked the development of economically viable electric vehicles for commercial use, raised consumer awareness of low maintenance and operating costs, and increased adoption of smart vehicle technologies like wireless connectivity, telematics, advanced driver-assistance systems (ADAS), GPS, touch sensors, etc., all of which are supporting the market's expansion. Additionally, the global market for commercial electric vehicles is also expanding as a result of scientific advancements in battery technology that will lower cost and lengthen battery life as well as consumer preference for long-haul trucks. For instance, battery OEMs are doing R&D operations to enhance various battery pack kinds to lengthen their trip time.
Challenges
Several key obstacles that have been identified as impeding market expansion include a lack of charging infrastructure, variances in charging load, and a lack of standardization. For charging electric vehicles, several regions, including China, Europe, the United States, Japan, Korea, and others, have varied standards. To address this issue, certain electric vehicle manufacturers, like Tesla Inc., are concentrating on a worldwide standardization of the charging infrastructure. Nevertheless, it is projected that increasing the use of electric vehicles in the public and commercial sectors will propel the market.
Opportunities
The government is emphasizing electrifying the fleet of public transportation, and the growing demand for zero-emission cars in the logistics and e-commerce sector is offering attractive chances for OEMs to generate more income and expand their presence internationally. In addition, the market for electric commercial vehicles will see more growth as electric commercial vehicle usage rises in emerging markets. Over the past few years, wireless on-the-go charging technology has been developed. Although this technology is now quite expensive, it might be used in the ensuing decades. As sales are anticipated to rise quickly when this technology is used, it is anticipated to have a substantial impact on the EV market.
Industry Ecosystem
Players in the global commercial electric vehicle market are launching new products to take advantage of the market expansion. Furthermore, to lower the price of electric vehicles and compete with gasoline vehicles in terms of performance and price, industry companies are developing new battery technologies. Industry leaders are anticipated to dramatically lower the price of these commercial vehicles and enhance their performance during the projection period, resulting in widespread adoption. However, macroeconomic reasons such as the expanding freight traffic and the increased need for vehicles in the e-commerce and retail sectors in emerging economies will speed up the expansion of the electric commercial vehicle industry.
Geographical Overview
The region with the fastest growth is anticipated to be Europe. The European Union's ongoing efforts to enact stricter emission regulations, the increased focus on reducing the number of conventional cars, the extensive network of charging infrastructure in Europe, and rising investments in the development of sustainable road transport infrastructure that can charge electric cars while they are in use to lessen range anxiety related to electric vehicles are the factors attributed to the high growth of this region. The development of cutting-edge R&D and technology improvements for electric commercial vehicles primarily takes place in North America.
China, which has significant sales volumes for electric commercial vehicles, particularly electric buses, dominates the Asia Pacific market. India is anticipated to have a high potential market for electric commercial vehicles in the future due to favorable government laws and the increasing deployment of electric buses in public transportation fleets. The majority of the OEMs that dominate the global market for electric commercial vehicles are based in the Asia Pacific, particularly Chinese firms. Japan is essential to Asia-Pacific automobile technology. The Japanese market for electric commercial vehicles is anticipated to expand as a result of developments in technologies like FCEV and PHEV.
Recent Development by Key Players
General Motors collaborated with Autocar Industries, LLC, to produce zero-emission commercial vehicles. The new commercial vehicle will use GM’s HYDROTEC power cubes. Autocar has focussed on expanding its offering to customers by launching zero-tailpipe emissions solutions. General Motors and Autocar’s partnership will utilize hydrogen fuel cells to produce commercial vehicles.
Nissan and Mitsubishi collaborated to develop several electrified vehicles specifically for the United States market in a bid to minimize development costs in a time when the growth of all-electric vehicles has slowed and major manufacturers are looking to plug-in hybrids as a stopgap until EVs regain momentum.
Competitive Insight
Due to the presence of several market participants, there is intense rivalry in the global market for electric vehicles. The incumbent players place a lot of emphasis on innovation and the creation of new models and technologies to address their weaknesses and solidify their position in the global market. To increase their local footprint, several market participants are also funding EV companies.
Tesla, Inc. is an American multinational automotive and clean energy company headquartered in Austin, Texas, that designs, manufactures and sells battery electric vehicles, stationary battery energy storage devices from home to grid-scale, solar panels and solar shingles, and related products and services.
Daimler is one of the world's largest commercial vehicle manufacturer. Company offer light, medium and heavy duty trucks, city and intercity buses, coaches and bus chassis. Tailored financial services are also part of company's portfolio.
Furthermore, the auto industry has been driven to transition to battery-powered or electric vehicles due to increased initiatives from governments in numerous locations regarding environmental degradation from CO2 emissions. Companies use partnerships, joint ventures, mergers, and acquisitions as part of their market position retention tactics. The leading manufacturers of electric commercial vehicles are Tesla, Daimler, Panasonic, Nissan, Proterra, ABB, BYD, LG Chem, Delphi, Samsung SDI, Continental, Toyota Motors, Nissan Motors, Lucid Group Inc., KIA corporation, Hyundai motor company, Hero electric, general motors, WM motors, Rivain, NIO, etc.
The Electric Commercial Vehicle Market report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2025–2030.
Segments Covered in the Report
- By Component
- Electric Motor
- Hydrogen Fuel Cell
- EV Battery
- By Range
- 0-150 Miles
- 151-250 Miles
- 251-500 Miles
- 500 Miles & Above
- By Propulsion Type
- Battery Electric Vehicle (BEV)
- Plug-In Hybrid Electric Vehicles (PHEV)
- Hybrid Electric Vehicle (HEV)
- Fuel Cell Electric Vehicle (FCEV)
- By Power Output
- Less than 100KW
- 100-250KW
- Above 250 KW
- By Vehicle Type
- Electric Bus
- Electric Van
- Electric Trucks
- Electric Pick-up Trucks
- By Cell Format
- Pouch
- Prismatic
- Round
- By Application
- Industrial
- Commercial
- Private
Region Covered in the Report
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia-Pacific (APAC)
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- Rest of the World (RoW)
- Brazil
- Saudi Arabia
- South Africa
- U.A.E.
- Other Countries
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Source: VynZ Research
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Source: VynZ Research
1. Research Overview
1.1. The Report Offers
1.2. Market Coverage
1.2.1. By Component
1.2.2. By Range
1.2.3. By Propulsion Type
1.2.4. By Power Output
1.2.5. By Vehicle Type
1.2.6. By Cell Format
1.2.7. By Application
1.2.8. By Region
1.3. Research Phases
1.4. Limitations
1.5. Market Methodology
1.5.1. Data Sources
1.5.1.1. Primary Research
1.5.1.2. Secondary Research
1.5.2. Methodology
1.5.2.1. Data Exploration
1.5.2.2. Forecast Parameters
1.5.2.3. Data Validation
1.5.2.4. Assumptions
1.5.3. Study Period & Data Reporting Unit
2. Executive Summary
3. Industry Overview
3.1. Industry Dynamics
3.1.1. Market Growth Drivers
3.1.2. Market Restraints
3.1.3. Key Market Trends
3.1.4. Major Opportunities
3.2. Industry Ecosystem
3.2.1. Porter’s Five Forces Analysis
3.2.2. Recent Development Analysis
3.2.3. Value Chain Analysis
3.3. Competitive Insight
3.3.1. Competitive Position of Industry Players
3.3.2. Market Attractive Analysis
3.3.3. Market Share Analysis
4. Global Market Estimate and Forecast
4.1. Global Market Overview
4.2. Global Market Estimate and Forecast to 2030
5. Market Segmentation Estimate and Forecast
5.1. By Component
5.1.1. Electric Motor
5.1.1.1. Market Definition
5.1.1.2. Market Estimation and Forecast to 2030
5.1.2. Hydrogen Fuel Cell
5.1.2.1. Market Definition
5.1.2.2. Market Estimation and Forecast to 2030
5.1.3. EV Battery
5.1.3.1. Market Definition
5.1.3.2. Market Estimation and Forecast to 2030
5.2. By Range
5.2.1. 0-150 Miles
5.2.1.1. Market Definition
5.2.1.2. Market Estimation and Forecast to 2030
5.2.2. 151-250 Miles
5.2.2.1. Market Definition
5.2.2.2. Market Estimation and Forecast to 2030
5.2.3. 251-500 Miles
5.2.3.1. Market Definition
5.2.3.2. Market Estimation and Forecast to 2030
5.2.4. 500 Miles & Above
5.2.4.1. Market Definition
5.2.4.2. Market Estimation and Forecast to 2030
5.3. By Propulsion Type
5.3.1. Battery Electric Vehicle (BEV)
5.3.1.1. Market Definition
5.3.1.2. Market Estimation and Forecast to 2030
5.3.2. Plug-In Hybrid Electric Vehicles (PHEV)
5.3.2.1. Market Definition
5.3.2.2. Market Estimation and Forecast to 2030
5.3.3. Hybrid Electric Vehicle (HEV)
5.3.3.1. Market Definition
5.3.3.2. Market Estimation and Forecast to 2030
5.3.4. Fuel Cell Electric Vehicle (FCEV)
5.3.4.1. Market Definition
5.3.4.2. Market Estimation and Forecast to 2030
5.4. By Power Output
5.4.1. Less than 100KW
5.4.1.1. Market Definition
5.4.1.2. Market Estimation and Forecast to 2030
5.4.2. 100-250KW
5.4.2.1. Market Definition
5.4.2.2. Market Estimation and Forecast to 2030
5.4.3. Above 250 KW
5.4.3.1. Market Definition
5.4.3.2. Market Estimation and Forecast to 2030
5.5. By Vehicle Type
5.5.1. Electric Bus
5.5.1.1. Market Definition
5.5.1.2. Market Estimation and Forecast to 2030
5.5.2. Electric Van
5.5.2.1. Market Definition
5.5.2.2. Market Estimation and Forecast to 2030
5.5.3. Electric Trucks
5.5.3.1. Market Definition
5.5.3.2. Market Estimation and Forecast to 2030
5.5.4. Electric Pick-up Trucks
5.5.4.1. Market Definition
5.5.4.2. Market Estimation and Forecast to 2030
5.6. By Cell Format
5.6.1. Pouch
5.6.1.1. Market Definition
5.6.1.2. Market Estimation and Forecast to 2030
5.6.2. Prismatic
5.6.2.1. Market Definition
5.6.2.2. Market Estimation and Forecast to 2030
5.6.3. Round
5.6.3.1. Market Definition
5.6.3.2. Market Estimation and Forecast to 2030
5.7. By Application
5.7.1. Last-Mile Delivery
5.7.1.1. Market Definition
5.7.1.2. Market Estimation and Forecast to 2030
5.7.2. Distribution Services
5.7.2.1. Market Definition
5.7.2.2. Market Estimation and Forecast to 2030
5.7.3. Field Service
5.7.3.1. Market Definition
5.7.3.2. Market Estimation and Forecast to 2030
5.7.4. Refuse Service
5.7.4.1. Market Definition
5.7.4.2. Market Estimation and Forecast to 2030
5.7.5. Long Haul Transportation
5.7.5.1. Market Definition
5.7.5.2. Market Estimation and Forecast to 2030
6. North America Market Estimate and Forecast
6.1. By Component
6.2. By Range
6.3. By Propulsion Type
6.4. By Power Output
6.5. By Vehicle Type
6.6. By Cell Format
6.7. By Application
6.8. By Country
6.8.1. U.S. Market Estimate and Forecast
6.8.2. Canada Market Estimate and Forecast
6.8.3. Mexico Market Estimate and Forecast
7. Europe Market Estimate and Forecast
6.1. By Component
6.2. By Range
6.3. By Propulsion Type
6.4. By Power Output
6.5. By Vehicle Type
6.6. By Cell Format
6.7. By Application
7.8. By Country
7.8.1. Germany Market Estimate and Forecast
7.8.2. France Market Estimate and Forecast
7.8.3. U.K. Market Estimate and Forecast
7.8.4. Italy Market Estimate and Forecast
7.8.5. Spain Market Estimate and Forecast
7.8.6. Russia Market Estimate and Forecast
7.8.7. Rest of Europe Market Estimate and Forecast
8. Asia-Pacific Market Estimate and Forecast
8.1. By Component
8.2. By Range
8.3. By Propulsion Type
8.4. By Power Output
8.5. By Vehicle Type
8.6. By Cell Format
8.7. By Application
8.8. By Country
8.8.1. China Market Estimate and Forecast
8.8.2. Japan Market Estimate and Forecast
8.8.3. India Market Estimate and Forecast
8.8.4. South Korea Market Estimate and Forecast
8.8.5. Rest of Asia-Pacific Market Estimate and Forecast
9. Rest of the World (RoW) Market Estimate and Forecast
9.1. By Component
9.2. By Range
9.3. By Propulsion Type
9.4. By Power Output
9.5. By Vehicle Type
9.6. By Cell Format
9.7. By Application
9.8. By Country
9.8.1. Brazil Market Estimate and Forecast
9.8.2. Saudi Arabia Market Estimate and Forecast
9.8.3. South Africa Market Estimate and Forecast
9.8.4. U.A.E. Market Estimate and Forecast
9.8.5. Other Countries Market Estimate and Forecast
10. Company Profiles
10.1. Tesla
10.1.1. Snapshot
10.1.2. Overview
10.1.3. Offerings
10.1.4. Financial Insight
10.1.5. Recent Developments
10.2. Daimler
10.2.1. Snapshot
10.2.2. Overview
10.2.3. Offerings
10.2.4. Financial Insight
10.2.5. Recent Developments
10.3. Panasonic
10.3.1. Snapshot
10.3.2. Overview
10.3.3. Offerings
10.3.4. Financial Insight
10.3.5. Recent Developments
10.4. Nissan
10.4.1. Snapshot
10.4.2. Overview
10.4.3. Offerings
10.4.4. Financial Insight
10.4.5. Recent Developments
10.5. Proterra
10.5.1. Snapshot
10.5.2. Overview
10.5.3. Offerings
10.5.4. Financial Insight
10.5.5. Recent Developments
10.6. ABB
10.6.1. Snapshot
10.6.2. Overview
10.6.3. Offerings
10.6.4. Financial Insight
10.6.5. Recent Developments
10.7. BYD
10.7.1. Snapshot
10.7.2. Overview
10.7.3. Offerings
10.7.4. Financial Insight
10.7.5. Recent Developments
10.8. LG Chem
10.8.1. Snapshot
10.8.2. Overview
10.8.3. Offerings
10.8.4. Financial Insight
10.8.5. Recent Developments
10.9. Delphi
10.9.1. Snapshot
10.9.2. Overview
10.9.3. Offerings
10.9.4. Financial Insight
10.9.5. Recent Developments
10.10. Samsung SDI
10.10.1. Snapshot
10.10.2. Overview
10.10.3. Offerings
10.10.4. Financial Insight
10.10.5. Recent Developments
10.11. Continental
10.11.1. Snapshot
10.11.2. Overview
10.11.3. Offerings
10.11.4. Financial Insight
10.11.5. Recent Developments
11. Appendix
11.1. Exchange Rates
11.2. Abbreviations
Note: Financial insight and recent developments of different companies are subject to the availability of information in the secondary domain.
List of Tables
Table 1 Sources
Table 2 Study Periods
Table 3 Data Reporting Unit
Table 4 Global Electric Commercial Vehicle Market, By Component, 2018-2023 (USD Billion)
Table 5 Global Electric Commercial Vehicle Market, By Component, 2025-2030 (USD Billion)
Table 6 Global Electric Commercial Vehicle Market, By Range , 2018-2023 (USD Billion)
Table 7 Global Electric Commercial Vehicle Market, By Range , 2025-2030 (USD Billion)
Table 8 Global Electric Commercial Vehicle Market, By Propulsion Type, 2018-2023 (USD Billion)
Table 9 Global Electric Commercial Vehicle Market, By Propulsion Type, 2025-2030 (USD Billion)
Table 10 Global Electric Commercial Vehicle Market, By Power Output, 2018-2023 (USD Billion)
Table 11 Global Electric Commercial Vehicle Market, By Power Output, 2025-2030 (USD Billion)
Table 12 Global Electric Commercial Vehicle Market, By Vehicle, 2018-2023 (USD Billion)
Table 13 Global Electric Commercial Vehicle Market, By Vehicle, 2025-2030 (USD Billion)
Table 14 Global Electric Commercial Vehicle Market, By Cell Format, 2018-2023 (USD Billion)
Table 15 Global Electric Commercial Vehicle Market, By Cell Format, 2025-2030 (USD Billion)
Table 16 Global Electric Commercial Vehicle Market, By Application, 2018-2023 (USD Billion)
Table 17 Global Electric Commercial Vehicle Market, By Application, 2025-2030 (USD Billion)
Table 18 Global Electric Commercial Vehicle Market, By Region, 2018-2023 (USD Billion)
Table 19 Global Electric Commercial Vehicle Market, By Region, 2025-2030 (USD Billion)
Table 20 North America Electric Commercial Vehicle Market, By Component, 2018-2023 (USD Billion)
Table 21 North America Electric Commercial Vehicle Market, By Component, 2025-2030 (USD Billion)
Table 22 North America Electric Commercial Vehicle Market, By Range , 2018-2023 (USD Billion)
Table 23 North America Electric Commercial Vehicle Market, By Range , 2025-2030 (USD Billion)
Table 24 North America Electric Commercial Vehicle Market, By Propulsion Type, 2018-2023 (USD Billion)
Table 25 North America Electric Commercial Vehicle Market, By Propulsion Type, 2025-2030 (USD Billion)
Table 26 North America Electric Commercial Vehicle Market, By Power Output, 2018-2023 (USD Billion)
Table 27 North America Electric Commercial Vehicle Market, By Power Output, 2025-2030 (USD Billion)
Table 28 North America Electric Commercial Vehicle Market, By Vehicle, 2018-2023 (USD Billion)
Table 29 North America Electric Commercial Vehicle Market, By Vehicle, 2025-2030 (USD Billion)
Table 30 North America Electric Commercial Vehicle Market, By Cell Format, 2018-2023 (USD Billion)
Table 31 North America Electric Commercial Vehicle Market, By Cell Format, 2025-2030 (USD Billion)
Table 32 North America Electric Commercial Vehicle Market, By Application, 2018-2023 (USD Billion)
Table 33 North America Electric Commercial Vehicle Market, By Application, 2025-2030 (USD Billion)
Table 34 North America Electric Commercial Vehicle Market, By Region, 2018-2023 (USD Billion)
Table 35 North America Electric Commercial Vehicle Market, By Region, 2025-2030 (USD Billion)
Table 36 Europe Electric Commercial Vehicle Market, By Component, 2018-2023 (USD Billion)
Table 37 Europe Electric Commercial Vehicle Market, By Component, 2025-2030 (USD Billion)
Table 38 Europe Electric Commercial Vehicle Market, By Range , 2018-2023 (USD Billion)
Table 39 Europe Electric Commercial Vehicle Market, By Range , 2025-2030 (USD Billion)
Table 40 Europe Electric Commercial Vehicle Market, By Propulsion Type, 2018-2023 (USD Billion)
Table 41 Europe Electric Commercial Vehicle Market, By Propulsion Type, 2025-2030 (USD Billion)
Table 42 Europe Electric Commercial Vehicle Market, By Power Output, 2018-2023 (USD Billion)
Table 43 Europe Electric Commercial Vehicle Market, By Power Output, 2025-2030 (USD Billion)
Table 44 Europe Electric Commercial Vehicle Market, By Vehicle, 2018-2023 (USD Billion)
Table 45 Europe Electric Commercial Vehicle Market, By Vehicle, 2025-2030 (USD Billion)
Table 46 Europe Electric Commercial Vehicle Market, By Cell Format, 2018-2023 (USD Billion)
Table 47 Europe Electric Commercial Vehicle Market, By Cell Format, 2025-2030 (USD Billion)
Table 48 Europe Electric Commercial Vehicle Market, By Application, 2018-2023 (USD Billion)
Table 49 Europe Electric Commercial Vehicle Market, By Application, 2025-2030 (USD Billion)
Table 50 Europe Electric Commercial Vehicle Market, By Region, 2018-2023 (USD Billion)
Table 51 Europe Electric Commercial Vehicle Market, By Region, 2025-2030 (USD Billion)
Table 52 Asia-Pacific Electric Commercial Vehicle Market, By Component, 2018-2023 (USD Billion)
Table 53 Asia-Pacific Electric Commercial Vehicle Market, By Component, 2025-2030 (USD Billion)
Table 54 Asia-Pacific Electric Commercial Vehicle Market, By Range , 2018-2023 (USD Billion)
Table 55 Asia-Pacific Electric Commercial Vehicle Market, By Range , 2025-2030 (USD Billion)
Table 56 Asia-Pacific Electric Commercial Vehicle Market, By Propulsion Type, 2018-2023 (USD Billion)
Table 57 Asia-Pacific Electric Commercial Vehicle Market, By Propulsion Type, 2025-2030 (USD Billion)
Table 58 Asia-Pacific Electric Commercial Vehicle Market, By Power Output, 2018-2023 (USD Billion)
Table 59 Asia-Pacific Electric Commercial Vehicle Market, By Power Output, 2025-2030 (USD Billion)
Table 60 Asia-Pacific Electric Commercial Vehicle Market, By Vehicle, 2018-2023 (USD Billion)
Table 61 Asia-Pacific Electric Commercial Vehicle Market, By Vehicle, 2025-2030 (USD Billion)
Table 62 Asia-Pacific Electric Commercial Vehicle Market, By Cell Format, 2018-2023 (USD Billion)
Table 63 Asia-Pacific Electric Commercial Vehicle Market, By Cell Format, 2025-2030 (USD Billion)
Table 64 Asia-Pacific Electric Commercial Vehicle Market, By Battery Type, 2018-2023 (USD Billion)
Table 65 Asia-Pacific Electric Commercial Vehicle Market, By Battery Type, 2025-2030 (USD Billion)
Table 66 Asia-Pacific Electric Commercial Vehicle Market, By Region, 2018-2023 (USD Billion)
Table 67 Asia-Pacific Electric Commercial Vehicle Market, By Region, 2025-2030 (USD Billion)
Table 68 RoW Electric Commercial Vehicle Market, By Component, 2018-2023 (USD Billion)
Table 69 RoW Electric Commercial Vehicle Market, By Component, 2025-2030 (USD Billion)
Table 70 RoW Electric Commercial Vehicle Market, By Range , 2018-2023 (USD Billion)
Table 71 RoW Electric Commercial Vehicle Market, By Range , 2025-2030 (USD Billion)
Table 72 RoW Electric Commercial Vehicle Market, By Propulsion Type, 2018-2023 (USD Billion)
Table 73 RoW Electric Commercial Vehicle Market, By Propulsion Type, 2025-2030 (USD Billion)
Table 74 RoW Electric Commercial Vehicle Market, By Power Output, 2018-2023 (USD Billion)
Table 75 RoW Electric Commercial Vehicle Market, By Power Output, 2025-2030 (USD Billion)
Table 76 RoW Electric Commercial Vehicle Market, By Vehicle, 2018-2023 (USD Billion)
Table 77 RoW Electric Commercial Vehicle Market, By Vehicle, 2025-2030 (USD Billion)
Table 78 RoW Electric Commercial Vehicle Market, By Cell Format, 2018-2023 (USD Billion)
Table 79 RoW Electric Commercial Vehicle Market, By Cell Format, 2025-2030 (USD Billion)
Table 80 RoW Electric Commercial Vehicle Market, By Application, 2018-2023 (USD Billion)
Table 81 RoW Electric Commercial Vehicle Market, By Application, 2025-2030 (USD Billion)
Table 82 RoW Electric Commercial Vehicle Market, By Region, 2018-2023 (USD Billion)
Table 83 RoW Electric Commercial Vehicle Market, By Region, 2025-2030 (USD Billion)
Table 84 Snapshot - Tesla
Table 85 Snapshot - Daimler
Table 86 Snapshot - Panasonic
Table 87 Snapshot - Nissan
Table 88 Snapshot - Proterra
Table 89 Snapshot - ABB
Table 90 Snapshot - ByD
Table 91 Snapshot - LG Chem
Table 92 Snapshot - Delphi
Table 93 Snapshot - Samsung SDI
Table 94 Snapshot - Continental
List of Figures
Figure 1 Market Coverage
Figure 2 Research Phases
Figure 3 Secondary Sources for Different Parameters
Figure 4 Methodology
Figure 5 Data Mining & Exploration
Figure 6 Data Triangulation
Figure 7 Assumptions for Market Estimation and Forecast
Figure 8 Market Synopsis
Figure 9 Global Electric Commercial Vehicle Market - Growth Drivers and Restraints
Figure 10 Competitive Benchmark
Figure 11 Global Electric Commercial Vehicle Market Highlight
Figure 12 Global Electric Commercial Vehicle Market, By Component, 2018 - 2030 (USD Billion)
Figure 13 Global Electric Commercial Vehicle Market, By Range, 2018 - 2030 (USD Billion)
Figure 14 Global Electric Commercial Vehicle Market, By Propulsion Type, 2018 - 2030 (USD Billion)
Figure 15 Global Electric Commercial Vehicle Market, By Power Output, 2018 - 2030 (USD Billion)
Figure 16 Global Electric Commercial Vehicle Market, By Vehicle, 2018 - 2030 (USD Billion)
Figure 17 Global Electric Commercial Vehicle Market, By Cell Format, 2018 - 2030 (USD Billion)
Figure 18 Global Electric Commercial Vehicle Market, By Application, 2018 - 2030 (USD Billion)
Figure 19 Global Electric Commercial Vehicle Market, By Region, 2018 - 2030 (USD Billion)
Figure 20 North America Electric Commercial Vehicle Market Highlight
Figure 21 North America Electric Commercial Vehicle Market, By Component, 2018 - 2030 (USD Billion)
Figure 22 North America Electric Commercial Vehicle Market, By Range , 2018 - 2030 (USD Billion)
Figure 23 North America Electric Commercial Vehicle Market, By Propulsion Type, 2018 - 2030 (USD Billion)
Figure 24 North America Electric Commercial Vehicle Market, By Power Output, 2018 - 2030 (USD Billion)
Figure 25 North America Electric Commercial Vehicle Market, By Vehicle, 2018 - 2030 (USD Billion)
Figure 26 North America Electric Commercial Vehicle Market, By Cell Format, 2018 - 2030 (USD Billion)
Figure 27 North America Electric Commercial Vehicle Market, By Application, 2018 - 2030 (USD Billion)
Figure 28 North America Electric Commercial Vehicle Market, By Region, 2018 - 2030 (USD Billion)
Figure 29 Europe Electric Commercial Vehicle Market Highlight
Figure 30 Europe Electric Commercial Vehicle Market, By Component, 2018 - 2030 (USD Billion)
Figure 31 Europe Electric Commercial Vehicle Market, By Range , 2018 - 2030 (USD Billion)
Figure 32 Europe Electric Commercial Vehicle Market, By Propulsion Type, 2018 - 2030 (USD Billion)
Figure 33 Europe Electric Commercial Vehicle Market, By Power Output, 2018 - 2030 (USD Billion)
Figure 34 Europe Electric Commercial Vehicle Market, By Vehicle, 2018 - 2030 (USD Billion)
Figure 35 Europe Electric Commercial Vehicle Market, By Cell Format, 2018 - 2030 (USD Billion)
Figure 36 Europe Electric Commercial Vehicle Market, By Application, 2018 - 2030 (USD Billion)
Figure 37 Europe Electric Commercial Vehicle Market, By Region, 2018 - 2030 (USD Billion)
Figure 38 Asia-Pacific Electric Commercial Vehicle Market Highlight
Figure 39 Asia-Pacific Electric Commercial Vehicle Market, By Component, 2018 - 2030 (USD Billion)
Figure 40 Asia-Pacific Electric Commercial Vehicle Market, By Range , 2018 - 2030 (USD Billion)
Figure 41 Asia-Pacific Electric Commercial Vehicle Market, By Propulsion Type, 2018 - 2030 (USD Billion)
Figure 42 Asia-Pacific Electric Commercial Vehicle Market, By Power Output, 2018 - 2030 (USD Billion)
Figure 43 Asia-Pacific Electric Commercial Vehicle Market, By Vehicle, 2018 - 2030 (USD Billion)
Figure 44 Asia-Pacific Electric Commercial Vehicle Market, By Cell Format, 2018 - 2030 (USD Billion)
Figure 45 Asia-Pacific Electric Commercial Vehicle Market, By Application, 2018 - 2030 (USD Billion)
Figure 46 Asia-Pacific Electric Commercial Vehicle Market, By Region, 2018 - 2030 (USD Billion)
Figure 47 RoW Electric Commercial Vehicle Market Highlight
Figure 48 RoW Electric Commercial Vehicle Market, By Component, 2018 - 2030 (USD Billion)
Figure 49 RoW Electric Commercial Vehicle Market, By Range , 2018 - 2030 (USD Billion)
Figure 50 RoW Electric Commercial Vehicle Market, By Propulsion Type, 2018 - 2030 (USD Billion)
Figure 51 RoW Electric Commercial Vehicle Market, By Power Output, 2018 - 2030 (USD Billion)
Figure 52 RoW Electric Commercial Vehicle Market, By Vehicle, 2018 - 2030 (USD Billion)
Figure 53 RoW Electric Commercial Vehicle Market, By Cell Format, 2018 - 2030 (USD Billion)
Figure 54 RoW Electric Commercial Vehicle Market, By Application, 2018 - 2030 (USD Billion)
Figure 55 RoW Electric Commercial Vehicle Market, By Region Type, 2018 - 2030 (USD Billion)
Global Electric Commercial Vehicle Market Coverage
Component Insight and Forecast 2025-2030
- Electric Motor
- Hydrogen Fuel Cell
- EV Battery
Range Insight and Forecast 2025-2030
- 0-150 Miles
- 151-250 Miles
- 251-500 Miles
- 500 Miles & Above
Propulsion Type Insight and Forecast 2025-2030
- Battery Electric Vehicle (BEV)
- Plug-In Hybrid Electric Vehicles (PHEV)
- Hybrid Electric Vehicle (HEV)
- Fuel Cell Electric Vehicle (FCEV)
Power Output Insight and Forecast 2025-2030
- Less than 100KW
- 100-250KW
- Above 250 KW
Vehicle Type Insight and Forecast 2025-2030
- Electric Bus
- Electric Van
- Electric Trucks
- Electric Pick-up Trucks
Cell Format Insight and Forecast 2025-2030
- Pouch
- Prismatic
- Round
Application Insight and Forecast 2025-2030
- Industrial
- Commercial
- Private
Geographical Segmentation
Electric Commercial Vehicle Market by Region
North America
- By Component
- By Range
- By Propulsion Type
- By Power Output
- By Vehicle Type
- By Cell Format
- By Application
- By Country
- U.S.
- Canada
- Mexico
Europe
- By Component
- By Range
- By Propulsion Type
- By Power Output
- By Vehicle Type
- By Cell Format
- By Application
- By Country
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
Asia-Pacific (APAC)
- By Component
- By Range
- By Propulsion Type
- By Power Output
- By Vehicle Type
- By Cell Format
- By Application
- By Country
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
Rest of the World (RoW)
- By Component
- By Range
- By Propulsion Type
- By Power Output
- By Vehicle Type
- By Cell Format
- By Application
- By Country
- Brazil
- Saudi Arabia
- South Africa
- U.A.E.
- Other Countries
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Electric Commercial Vehicle Market
Global Electric Commercial Vehicle Market – Analysis and Forecast (2025-2030)
- The Global Electric Commercial Vehicle market is expected to grow from USD 414.5 billion to USD 2,418 billion by 2030 at a CAGR of 24.6%.
- The market is divided by component, range, propulsion type, power output, vehicle type, cell format, applications, each having different subsegments that are poised for significant growth during the forecast period.
- The market grows due to rising electrification acceptance, declining battery prices, supportive regulations, advancements in the automotive industry, consumer awareness of low maintenance costs, adoption of smart vehicle tech, scientific battery advancements, and consumer preference for long-haul trucks.
- The market growth is hindered due to lack of charging infrastructure, standardization issues, and inconsistent loads. However, government initiatives to electrify public transport and growing demand for zero-emission vehicles offer growth opportunities.
- North America leads the market due to higher R&D. the European market will grow due to strict emission regulations and higher investments in sustainable road transport. Asia-Pacific market will grow due to tech developments in developing countries.