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Electric Commercial Vehicles Global Market Report 2024

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    Report

  • 175 Pages
  • February 2024
  • Region: Global
  • The Business Research Company
  • ID: 5939650
The electric commercial vehicles market size has grown exponentially in recent years. It will grow from $116.95 billion in 2023 to $154.64 billion in 2024 at a compound annual growth rate (CAGR) of 32.2%. The expansion in the historical period can be ascribed to heightened government investments, a decline in the cost of electric vehicle (EV) batteries, and an escalating demand for electric commercial vehicles in emerging markets.

The electric commercial vehicles market size is expected to see exponential growth in the next few years. It will grow to $447.04 billion in 2028 at a compound annual growth rate (CAGR) of 30.4%. The forecast period's expansion is linked to the increase in fuel rates, the growing preference for overnight home charging for cost efficiency, the rapid growth of e-commerce, and the impact of the COVID-19 pandemic. Key trends in the forecast period encompass the integration of artificial intelligence, the utilization of electric recreational vehicles (RVs) for camping, governmental initiatives within the electric commercial vehicle sector, the incorporation of electric vehicles in logistics, the heightened adoption of lithium-ion batteries, the application of 3D printing for manufacturing lightweight and cost-effective components, and a rise in mergers and acquisitions among electric commercial vehicle manufacturers.

In the historical period, government subsidies played a crucial role in fostering the growth of the electric commercial vehicle market. Notably, as outlined in the Government of India Budget 2022-23, the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) scheme offered subsidies of up to INR 2908 crores. Similarly, the Manufacturing and Mobility policy 2022 introduced by the Uttar Pradesh government included subsidies for all-electric vehicles, encompassing bikes, scooters, three-wheelers, and cars. Under this policy, the state government pledged subsidies of up to Rs 1 lakh for electric cars over a three-year period. These subsidies were extended to three- and four-wheeled electric vehicles employed for commercial and fleet applications, showcasing the government's supportive stance driving the growth of the electric commercial vehicles market.

Anticipated growth in the electric commercial vehicle market is driven by the increasing demand for eco-friendly vehicles. Eco-friendly vehicles are designed to minimize their negative environmental impact, including electric vehicles, hybrid vehicles, hydrogen vehicles, and natural gas vehicles. Notably, data from April 2023, shared by the International Energy Agency (IEA), indicated that electric car sales accounted for 14% of global new car sales in 2022, a notable increase from 9% in 2021. The first quarter of 2023 witnessed sales of over 2.3 million electric cars, marking a substantial 25% rise from the corresponding period in the previous year. Projections indicate that by the end of 2023, approximately 14 million electric cars will be sold, representing a significant 35% year-on-year increase. Consequently, the escalating demand for eco-friendly vehicles is a driving force behind the growth of the electric commercial vehicle market.

Companies in the electric commercial vehicles market are increasingly entering strategic partnerships for the production of electric commercial vehicles. Such strategic collaborations involve the sharing of resources and expertise, enhancing product development and yielding synergistic results. These partnerships not only gain popularity among consumers and stakeholders but also attract increased investments while concurrently reducing costs. A notable example is the strategic partnership between Hyundai Motor Company and Kia Motors Corporation in South Korea. The two companies invested €100 million (approximately $110 million) in the UK-based electric vehicle startup 'Arrival' in 2020. This collaboration focuses on the development of electric commercial vehicles, including eco-friendly vans and logistics vehicles.

Major players in the electric commercial vehicle market are also introducing innovative products such as the Sierra EV pickup truck to bolster their market profitability. The Sierra EV, built on the Ultium platform, offers exceptional range, power, and Professional-Grade capability. For instance, in October 2022, GMC, a US-based automotive manufacturer, unveiled the Sierra EV pickup truck as part of its all-electric truck lineup. The 2024 Sierra EV Denali Edition 1, leading the electric truck lineup, features a 400-mile range per full charge and exclusive attributes achievable through its specialized EV truck platform. With 754 horsepower, 785 lb-ft of torque, and a maximum towing capacity of up to 9,500 lbs, the Sierra EV Denali Edition 1 can accelerate from 0-60 mph in under 4.5 seconds.

In August 2021, Ideanomics Inc, a US-based company dedicated to driving the adoption of commercial electric vehicles, made an undisclosed acquisition of VIA Motors International. Through this acquisition, Ideanomics Inc aims to leverage the complementary product offerings of VIA Motors International to expand its market reach, fostering opportunities for joint development and marketing. VIA Motors International is a US-based manufacturer specializing in commercial electric vehicles.

Major companies operating in the electric commercial vehicles market report are BYD Company Ltd., Zhengzhou Yutong Bus Co. Ltd., Daimler AG, Proterra, VDL Groep BV, Irizar, ZHONGTONGBUS Bus Holding Co., Ltd., Ebusco B.V., Navistar, Inc., Workhorse Group Incorporated, Mahindra Electric, Tata Motors, Hyundai, Ashok Leyland, Nissan, Honda Motor Co. Ltd., Toyota, SAIC Motor, NIO, Xpeng, Li Auto, WM Motor, Geely, Byton, Enovate, Zhiji Xiaomi, Dongfeng Motor, Chang’an Automobile, Guangzhou Automobile, Chery Automobile, FAW Group, Evergrande, BAIC Motor, Volkswagen, Renault, Audi, BMW, Mercedes Benz Motors, MAN Germany, DAF Trucks, Effigear EP Tender, Ze-Watt, Zembo, Ecovelo, Knave, SeaBubbles, Velco, Electra, EasyMile, MEDCOM, PERUN, Triggo, Varsovia Motor Company , Samocat Sharing, AVT & Co, PC Transport Systems, Carbogatto, Nucular, Via Motors, Tesla Inc , Hyliion, Ford, Lucid Motors, Chevrolet Bolt EV, Porsche, General Motors, Kia Motors, Origem, iPedal, Energica Motor Company, Bozankaya, EVT motor, Car4future, infinity, Schneider, Melex Electrovehicles, GridCars, Mazibuko Motor Company, El Nasr Automotive Manufacturing Company, Eleksa, Jet Motors.

Asia-Pacific was the largest region in the electric commercial vehicles market in 2023. North America was the second largest region in the global electric commercial vehicles market share. The regions covered in the electric commercial vehicles market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the electric commercial vehicles market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The primary propulsion types in electric commercial vehicles include BEV, PHEV, and FCEV. Battery Electric Vehicles (BEV) solely rely on stored electricity, featuring key components such as a high-voltage battery, one or more electric motors (either alternating current [AC] or direct current [DC]), and a controller responsible for managing power electronics. Electric buses, electric trucks, electric pick-up trucks, and electric vans are among the diverse vehicle types in this category. Lithium-iron-phosphate (LiFePO4), lithium-nickel-manganese-cobalt oxide (NMC), and other battery types are integral to these vehicles. The technologies encompass battery-electric commercial vehicles, plug-in hybrids, hybrids, and fuel cell electric commercial vehicles.

The electric commercial vehicles market research report is one of a series of new reports that provides electric commercial vehicles market statistics, including electric commercial vehicles industry global market size, regional shares, competitors with an electric commercial vehicles market share, detailed electric commercial vehicles market segments, market trends and opportunities, and any further data you may need to thrive in the electric commercial vehicles industry. This electric commercial vehicles market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The electric commercial vehicles market consists of sales of hybrid electric vehicles (HEVs) and extended range electric vehicles (E-REVs). Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Table of Contents

1. Executive Summary2. Electric Commercial Vehicles Market Characteristics3. Electric Commercial Vehicles Market Trends and Strategies
4. Electric Commercial Vehicles Market - Macro Economic Scenario
4.1. Impact of High Inflation on the Market
4.2. Ukraine-Russia War Impact on the Market
4.3. COVID-19 Impact on the Market
5. Global Electric Commercial Vehicles Market Size and Growth
5.1. Global Electric Commercial Vehicles Market Drivers and Restraints
5.1.1. Drivers of the Market
5.1.2. Restraints of the Market
5.2. Global Electric Commercial Vehicles Historic Market Size and Growth, 2018-2023, Value ($ Billion)
5.3. Global Electric Commercial Vehicles Forecast Market Size and Growth, 2023-2028, 2033F, Value ($ Billion)
6. Electric Commercial Vehicles Market Segmentation
6.1. Global Electric Commercial Vehicles Market, Segmentation by Propulsion Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • BEV
  • PHEV
  • FCEV
6.2. Global Electric Commercial Vehicles Market, Segmentation by Vehicle Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Electric Bus
  • Electric Truck
  • Electric Pick-up Truck
  • Electric Van
6.3. Global Electric Commercial Vehicles Market, Segmentation by Battery Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Lithium-iron-phosphate (LFP)
  • Lithium-nickel-manganese-cobalt oxide (NMC)
  • Other Battery Types
6.4. Global Electric Commercial Vehicles Market, Segmentation by Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Battery Electric Commercial Vehicles
  • Plug-in Hybrids
  • Hybrids
  • Fuel Cell Electric Commercial Vehicles
7. Electric Commercial Vehicles Market Regional and Country Analysis
7.1. Global Electric Commercial Vehicles Market, Split by Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Electric Commercial Vehicles Market, Split by Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8. Asia-Pacific Electric Commercial Vehicles Market
8.1. Asia-Pacific Electric Commercial Vehicles Market Overview
Region Information, Impact of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Electric Commercial Vehicles Market, Segmentation by Propulsion Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Electric Commercial Vehicles Market, Segmentation by Battery Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Electric Commercial Vehicles Market, Segmentation by Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
9. China Electric Commercial Vehicles Market
9.1. China Electric Commercial Vehicles Market Overview
9.2. China Electric Commercial Vehicles Market, Segmentation by Propulsion Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Electric Commercial Vehicles Market, Segmentation by Battery Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Electric Commercial Vehicles Market, Segmentation by Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
10. India Electric Commercial Vehicles Market
10.1. India Electric Commercial Vehicles Market, Segmentation by Propulsion Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Electric Commercial Vehicles Market, Segmentation by Battery Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Electric Commercial Vehicles Market, Segmentation by Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11. Japan Electric Commercial Vehicles Market
11.1. Japan Electric Commercial Vehicles Market Overview
11.2. Japan Electric Commercial Vehicles Market, Segmentation by Propulsion Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Electric Commercial Vehicles Market, Segmentation by Battery Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Electric Commercial Vehicles Market, Segmentation by Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12. Australia Electric Commercial Vehicles Market
12.1. Australia Electric Commercial Vehicles Market, Segmentation by Propulsion Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Electric Commercial Vehicles Market, Segmentation by Battery Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Electric Commercial Vehicles Market, Segmentation by Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13. Indonesia Electric Commercial Vehicles Market
13.1. Indonesia Electric Commercial Vehicles Market, Segmentation by Propulsion Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Electric Commercial Vehicles Market, Segmentation by Battery Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Electric Commercial Vehicles Market, Segmentation by Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14. South Korea Electric Commercial Vehicles Market
14.1. South Korea Electric Commercial Vehicles Market Overview
14.2. South Korea Electric Commercial Vehicles Market, Segmentation by Propulsion Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Electric Commercial Vehicles Market, Segmentation by Battery Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Electric Commercial Vehicles Market, Segmentation by Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15. Western Europe Electric Commercial Vehicles Market
15.1. Western Europe Electric Commercial Vehicles Market Overview
15.2. Western Europe Electric Commercial Vehicles Market, Segmentation by Propulsion Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Electric Commercial Vehicles Market, Segmentation by Battery Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Electric Commercial Vehicles Market, Segmentation by Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16. UK Electric Commercial Vehicles Market
16.1. UK Electric Commercial Vehicles Market, Segmentation by Propulsion Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Electric Commercial Vehicles Market, Segmentation by Battery Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Electric Commercial Vehicles Market, Segmentation by Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17. Germany Electric Commercial Vehicles Market
17.1. Germany Electric Commercial Vehicles Market, Segmentation by Propulsion Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Electric Commercial Vehicles Market, Segmentation by Battery Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Electric Commercial Vehicles Market, Segmentation by Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18. France Electric Commercial Vehicles Market
18.1. France Electric Commercial Vehicles Market, Segmentation by Propulsion Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Electric Commercial Vehicles Market, Segmentation by Battery Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Electric Commercial Vehicles Market, Segmentation by Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19. Italy Electric Commercial Vehicles Market
19.1. Italy Electric Commercial Vehicles Market, Segmentation by Propulsion Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Electric Commercial Vehicles Market, Segmentation by Battery Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Electric Commercial Vehicles Market, Segmentation by Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20. Spain Electric Commercial Vehicles Market
20.1. Spain Electric Commercial Vehicles Market, Segmentation by Propulsion Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Electric Commercial Vehicles Market, Segmentation by Battery Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Electric Commercial Vehicles Market, Segmentation by Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21. Eastern Europe Electric Commercial Vehicles Market
21.1. Eastern Europe Electric Commercial Vehicles Market Overview
21.2. Eastern Europe Electric Commercial Vehicles Market, Segmentation by Propulsion Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Electric Commercial Vehicles Market, Segmentation by Battery Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Electric Commercial Vehicles Market, Segmentation by Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22. Russia Electric Commercial Vehicles Market
22.1. Russia Electric Commercial Vehicles Market, Segmentation by Propulsion Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Electric Commercial Vehicles Market, Segmentation by Battery Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Electric Commercial Vehicles Market, Segmentation by Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23. North America Electric Commercial Vehicles Market
23.1. North America Electric Commercial Vehicles Market Overview
23.2. North America Electric Commercial Vehicles Market, Segmentation by Propulsion Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Electric Commercial Vehicles Market, Segmentation by Battery Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Electric Commercial Vehicles Market, Segmentation by Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24. USA Electric Commercial Vehicles Market
24.1. USA Electric Commercial Vehicles Market Overview
24.2. USA Electric Commercial Vehicles Market, Segmentation by Propulsion Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Electric Commercial Vehicles Market, Segmentation by Battery Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Electric Commercial Vehicles Market, Segmentation by Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25. Canada Electric Commercial Vehicles Market
25.1. Canada Electric Commercial Vehicles Market Overview
25.2. Canada Electric Commercial Vehicles Market, Segmentation by Propulsion Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Electric Commercial Vehicles Market, Segmentation by Battery Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Electric Commercial Vehicles Market, Segmentation by Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26. South America Electric Commercial Vehicles Market
26.1. South America Electric Commercial Vehicles Market Overview
26.2. South America Electric Commercial Vehicles Market, Segmentation by Propulsion Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Electric Commercial Vehicles Market, Segmentation by Battery Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Electric Commercial Vehicles Market, Segmentation by Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27. Brazil Electric Commercial Vehicles Market
27.1. Brazil Electric Commercial Vehicles Market, Segmentation by Propulsion Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Electric Commercial Vehicles Market, Segmentation by Battery Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Electric Commercial Vehicles Market, Segmentation by Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28. Middle East Electric Commercial Vehicles Market
28.1. Middle East Electric Commercial Vehicles Market Overview
28.2. Middle East Electric Commercial Vehicles Market, Segmentation by Propulsion Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Electric Commercial Vehicles Market, Segmentation by Battery Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Electric Commercial Vehicles Market, Segmentation by Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29. Africa Electric Commercial Vehicles Market
29.1. Africa Electric Commercial Vehicles Market Overview
29.2. Africa Electric Commercial Vehicles Market, Segmentation by Propulsion Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Electric Commercial Vehicles Market, Segmentation by Battery Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Electric Commercial Vehicles Market, Segmentation by Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
30. Electric Commercial Vehicles Market Competitive Landscape and Company Profiles
30.1. Electric Commercial Vehicles Market Competitive Landscape
30.2. Electric Commercial Vehicles Market Company Profiles
30.2.1. BYD Company Ltd.
30.2.1.1. Overview
30.2.1.2. Products and Services
30.2.1.3. Strategy
30.2.1.4. Financial Performance
30.2.2. Zhengzhou Yutong Bus Co. Ltd
30.2.2.1. Overview
30.2.2.2. Products and Services
30.2.2.3. Strategy
30.2.2.4. Financial Performance
30.2.3. Daimler AG
30.2.3.1. Overview
30.2.3.2. Products and Services
30.2.3.3. Strategy
30.2.3.4. Financial Performance
30.2.4. Proterra
30.2.4.1. Overview
30.2.4.2. Products and Services
30.2.4.3. Strategy
30.2.4.4. Financial Performance
30.2.5. VDL Groep BV
30.2.5.1. Overview
30.2.5.2. Products and Services
30.2.5.3. Strategy
30.2.5.4. Financial Performance
31. Electric Commercial Vehicles Market Other Major and Innovative Companies
31.1. Irizar
31.2. ZHONGTONGBUS Bus Holding Co., Ltd
31.3. Ebusco B.V.
31.4. Navistar, Inc.
31.5. Workhorse Group Incorporated
31.6. Mahindra Electric
31.7. Tata Motors
31.8. Hyundai
31.9. Ashok Leyland
31.10. Nissan
31.11. Honda Motor Co. Ltd.
31.12. Toyota
31.13. SAIC Motor
31.14. NIO
31.15. Xpeng
32. Global Electric Commercial Vehicles Market Competitive Benchmarking33. Global Electric Commercial Vehicles Market Competitive Dashboard34. Key Mergers and Acquisitions in the Electric Commercial Vehicles Market
35. Electric Commercial Vehicles Market Future Outlook and Potential Analysis
35.1 Electric Commercial Vehicles Market in 2028 - Countries Offering Most New Opportunities
35.2 Electric Commercial Vehicles Market in 2028 - Segments Offering Most New Opportunities
35.3 Electric Commercial Vehicles Market in 2028 - Growth Strategies
35.3.1 Market Trend-based Strategies
35.3.2 Competitor Strategies
36. Appendix
36.1. Abbreviations
36.2. Currencies
36.3. Historic and Forecast Inflation Rates
36.4. Research Inquiries
36.5. About the Analyst
36.6. Copyright and Disclaimer

Executive Summary

Electric Commercial Vehicles Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on electric commercial vehicles market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

  • Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
  • Understand how the market has been affected by the coronavirus and how it is responding as the impact of the virus abates.
  • Assess the Russia-Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
  • Measure the impact of high global inflation on market growth.
  • Create regional and country strategies on the basis of local data and analysis.
  • Identify growth segments for investment.
  • Outperform competitors using forecast data and the drivers and trends shaping the market.
  • Understand customers based on the latest market shares.
  • Benchmark performance against key competitors.
  • Suitable for supporting your internal and external presentations with reliable high quality data and analysis.
  • Report will be updated with the latest data and delivered to you along with an Excel data sheet for easy data extraction and analysis.
  • All data from the report will also be delivered in an excel dashboard format.
Description
Where is the largest and fastest growing market for electric commercial vehicles? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
  • The market characteristics section of the report defines and explains the market.
  • The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
  • The forecasts are made after considering the major factors currently impacting the market. These include:
  • The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
  • The impact of higher inflation in many countries and the resulting spike in interest rates.
  • The continued but declining impact of COVID-19 on supply chains and consumption patterns.
  • Market segmentations break down the market into sub markets.
  • The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
  • The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
  • The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Report Scope

Markets Covered:
1) By Type: Milk and Butter; Cheese; Dry, Condensed, and Evaporated Dairy Products; Ice Cream and Frozen Dessert
2) By Source: Cattle; Sheep; Goat; Camel
3) By Distribution Channel: Supermarkets/Hypermarkets; Convenience Stores; E-Commerce; Others

Sub segments: Milk; Butter; Natural Cheese; Processed Cheese; Dry Dairy Product; Condensed Dairy Product; Evaporated Dairy Product; Ice Cream: Frozen Dessert

Key Companies Mentioned: BYD Company Ltd.; Zhengzhou Yutong Bus Co. Ltd; Daimler AG; Proterra; VDL Groep BV

Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain

Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

Time Series: Five years historic and ten years forecast

Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita

Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments

Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes

Delivery Format: PDF, Word and Excel Data Dashboard

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • BYD Company Ltd.
  • Zhengzhou Yutong Bus Co. Ltd
  • Daimler AG
  • Proterra
  • VDL Groep BV
  • Irizar
  • ZHONGTONGBUS Bus Holding Co., Ltd
  • Ebusco B.V.
  • Navistar, Inc.
  • Workhorse Group Incorporated
  • Mahindra Electric
  • Tata Motors
  • Hyundai
  • Ashok Leyland
  • Nissan
  • Honda Motor Co. Ltd.
  • Toyota
  • SAIC Motor
  • NIO
  • Xpeng
  • Li Auto
  • WM Motor
  • Geely
  • Byton
  • Enovate
  • Zhiji Xiaomi
  • Dongfeng Motor
  • Chang’an Automobile
  • Guangzhou Automobile
  • Chery Automobile
  • FAW Group
  • Evergrande
  • BAIC Motor
  • Volkswagen
  • Renault
  • Audi
  • BMW
  • Mercedes Benz Motors
  • MAN Germany
  • DAF Trucks
  • Effigear EP Tender
  • Ze-Watt
  • Zembo
  • Ecovelo
  • Knave
  • SeaBubbles
  • Velco
  • Electra
  • EasyMile
  • MEDCOM
  • PERUN
  • Triggo
  • Varsovia Motor Company
  • Samocat Sharing
  • AVT & Co
  • PC Transport Systems
  • Carbogatto
  • Nucular
  • Via Motors
  • Tesla Inc
  • Hyliion
  • Ford
  • Lucid Motors
  • Chevrolet Bolt EV
  • Porsche
  • General Motors
  • Kia Motors
  • Origem
  • iPedal
  • Energica Motor Company
  • Bozankaya
  • EVT motor
  • Car4future
  • infinity
  • Schneider
  • Melex Electrovehicles
  • GridCars
  • Mazibuko Motor Company
  • El Nasr Automotive Manufacturing Company
  • Eleksa
  • Jet Motors

Methodology

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