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Electric Commercial Vehicles - Global Market Trajectory & Analytics

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    Report

  • 391 Pages
  • October 2022
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 5303273

Global Electric Commercial Vehicles Market to Reach 948.1 Thousand Units by 2027

Amid the COVID-19 crisis, the global market for Electric Commercial Vehicles estimated at 185.4 Thousand Units in the year 2020, is projected to reach a revised size of 948.1 Thousand Units by 2027, growing at a CAGR of 26.3% over the period 2020-2027. BEV, one of the segments analyzed in the report, is projected to record 27.7% CAGR and reach 776.5 Thousand Units by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Other Propulsion Types segment is readjusted to a revised 20.9% CAGR for the next 7-year period.

The U.S. Market is Estimated at 17.3 Thousand Units, While China is Forecast to Grow at 25.6% CAGR

The Electric Commercial Vehicles market in the U.S. is estimated at 17.3 Thousand Units in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of 555.6 Thousand Units by the year 2027 trailing a CAGR of 25.6% over the period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 23.1% and 22.8% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 25.6% CAGR.

Select Competitors (Total 112 Featured)

  • AB Volvo
  • Anhui Ankai Automobile Co.,LTD.
  • BYD Auto Co., Ltd.
  • Daimler AG
  • EBUSCO B.V.
  • Ford Motor Company
  • NFI Group Inc.
  • Olectra Greentech Limited
  • Proterra Inc.
  • Rivian
  • Tata Motors Limited
  • Tesla Inc.
  • Traton SE
  • VDL Groep
  • Xiamen King Long United Automotive Industry Co., Ltd.
  • Zhengzhou Yutong Bus Co. Ltd
  • Zhongtong Bus Holding Co., Ltd.

What's New for 2022?

  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to a digital archives and Research Platform
  • Complimentary updates for one year

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Electric Commercial Vehicles - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
  • Hard-Nosed Focus on Sustainability Provides the Foundation for Growth in the Market
  • Sustainability, a Disrupter for a Better Future
  • Sustainable Investments to Emerge Into an Unstoppable Force in the Coming Decade: Global Investments in Sustainability (In US$ Billion) for Years 2015, 2018, 2020 and 2022
  • Transportation Industry in the Spotlight for its Unsustainable Increase in Carbon Footprint
  • Carbon Footprint Forecasts for the Transport Industry (In Billion Metric Tons) for Years 2020, 2025, 2030, 2035, 20240, 2045 & 2050
  • Stringent Regulations Encompassing Emission Control & Phase-Out of Fossil Fuel Vehicles Prep the Auto Industry for an Electrified Future
  • Difficult to Reduce Carbon Footprint of Fossil Fuel Vehicles, Brings the Auto Industry into the Spotlight as a Major Area for Sustainability Action
  • Inability of Conventional ICE Powered Vehicles to Demonstrate Desired Reductions in CO2 Emissions to Drive the Focus on Electric Vehicles: Official Laboratory CO2 Reduction Claims Vs On-Road Emission Efficiency (In Grams per Kilometer) for the Years 2008, 2010, 2012, 2014, 2016, 2018 and 2020
  • The Race Between the Virus & Vaccines Intensifies. Amidst this Chaotic Battle, Where is the World Economy Headed in 2021?
  • These are Times When Questions Abound & Answers Are Few
  • So How Fast Or Slow Are We Moving?
  • How Fast the World is Vaccinated Will Determine How Soon the Pandemic Will End: Global Percentage (%) of Population Administered With Vaccines in Advanced Economies, Emerging Markets, and Low-Income Countries As of July 2021
  • How & When Will the World Be Vaccinated? Global Number of Annual COVID-19 Vaccine Doses (In Million) for Years 2020 through 2025 by Geographic Region/Country
  • Split Scenarios Unfold: The Great Vaccine Divide Emerges
  • Time is of Essence! What We Know So Far - “Vaccine Efficiency Against New Strains is Decreasing”
  • Progress on Vaccinations, Why Should Businesses Care?
  • With IMF's Upward Revision of Global GDP Forecasts for 2021, Most Companies Are Bullish About an Economic Comeback Despite a Continuing Pandemic
  • A Strong Yet Exceedingly Patchy & Uncertain Recovery Shaped by New Variants Comes Into Play: World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
  • Easing Unemployment Levels in 2021 Although Moderate Will Infuse Hope for Industries Reliant on Consumer Discretionary Incomes: Global Number of Unemployed People (In Million) for Years 2017, 2019, 2020, and 2022
  • How the Commercial Vehicles (CV) Industry Was Impacted by the Pandemic & What's the New Normal?
  • Global Logistics Industry 2019 Vs 2020 Growth (In %)
  • CV Industry Likely to See Significant Changes in Post COVID Period
  • Everything You Need to Know About Commercial Vehicles & Electric Vehicles (EVs)
  • With EV Commercialization Critically Hinged Onto Cost of Lithium-Ion Batteries, Promised Decline to Battery Costs Strengthens Long-Term Outlook for Electric Commercial Vehicles EVs: Cost of Automotive Lithium Ion Battery Packs In US$ per kWh for Years 2015, 2020 & 2025
  • Unrivalled Environmental Performance to Bring EVs at the Forefront of All Sustainable Engineering Innovations in the Automobile Industry: A Comparison of GHG Emissions of Conventional, HEV/PHEV and Battery Electric Vehicles (In Grams of CO2 Per Mile) for the Year 2020
  • Recent Market Activity
  • Innovations
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
  • Encouraging Outlook for CVs Bodes Well for Electric CVs
  • The Outlook Brings Good News for Electric CVs
  • Joe Biden‘s Clean Energy Policy to Boost Sales of EVs in the United States
  • A Strong Freight Trucking Industry Supported by Rise in Global Trade & Retail Brings Cheer for Electric Trucks
  • A Robust Freight Trucking Outlook Increases the Chances of Operators Having More EVs in their Fleet: Global Freight Trucking Revenues for Years 2020, 2022, 2024 and 2026 (In US$ Billion) by Geographic Region
  • Global Chip Shortage Mars the Expected Recovery of the Auto Industry in 2021 & 2022. Electric CVs to Also Feel the Pain
  • Chip Shortages Trigger Production Halts
  • Rising Chip Lead Times Hurt Auto OEMs: Global Auto Chip Lead Times (In Weeks) for Years 2017 Through 2021
  • Big Blow to Planned Production Impacts All in the Supply Chain
  • Long Gestation Periods for Capacity Expansion, a Prime Factor Challenging a Quick Supply Rebound
  • Semiconductor Fab Production Expansion is Time Consuming & Can Therefore Provide No Immediate Relief: Time Required to Increase Fab Production by Parameter
  • Automakers Left With NO Alternative But to Brace for Continued Pain
  • Distributed Energy (DE) Provides the Infrastructure Foundation for the Adoption & Proliferation of Electric CVs
  • The World Plans for a Distributed Energy Future
  • Distributed Generation to Power EV Charging Infrastructure & Catalyze Adoption of Electric CVs: Global Investments in Distributed Generation (DG) (In US$ Billion) for the Years 2021, 2023, 2025 and 2027
  • Here's How it Benefits the EV Charging Infrastructure
  • Growing Funds Injected into Smartening the Electricity Grid to Benefit EV Support Infrastructure by Enabling More Effective Management of EV Charging Load: Global Investments in Smart Grids (In US$ Billion) for the Years 2021, 2023, 2025 and 2027
  • Robust Spike in e-Commerce Sales Bodes Well for Electrified Last Mile Delivery
  • Global B2C E-Commerce Sales in US$ Trillion for the Years 2017, 2019, 2021 and 2023
  • e-Commerce Induced Growth in Urban Logistics Drives Opportunities for EV Last Mile Delivery
  • Rising Average Vehicle Life Provides a Fertile Environment for Upgrading to Low-Emission and Fuel Efficient CVs
  • Hybrid Commercial Vehicles in the Spotlight
  • Advancements in Battery Technologies Remains Vital for Electric Vehicle Domination
  • Global Demand for Lithium-ion Batteries (In Gigawatt Hours) in Electric Vehicles for the Years 2020, 2023, 2026, 2029 & 2030
  • Nanotechnology-Based Thin-Film Lithium-Ion Batteries
  • “Smart' Membrane for Fast Charging of Batteries
  • Fuel Cell EVs (FCEVs): Not a Threat to BEVs
  • Innovations in EV Charging Crucial to Future Market Growth
  • With the Future of Commercial Transportation Being Electric, Here's How Fleet Operators Can Be Prepared
  • Commercial EVs Disrupt Fleet Management
  • AI Powers the Rapidly Evolving EV Ecosystem
4. GLOBAL MARKET PERSPECTIVE
  • Table 1: World Recent Past, Current & Future Analysis for Electric Commercial Vehicles by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Registrations in Units for Years 2020 through 2027 and % CAGR
  • Table 2: World 7-Year Perspective for Electric Commercial Vehicles by Geographic Region - Percentage Breakdown of Volume Registrations for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets for Years 2020, 2021 & 2027
  • Table 3: World Recent Past, Current & Future Analysis for BEV by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Registrations in Units for Years 2020 through 2027 and % CAGR
  • Table 4: World 7-Year Perspective for BEV by Geographic Region - Percentage Breakdown of Volume Registrations for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2020, 2021 & 2027
  • Table 5: World Recent Past, Current & Future Analysis for Other Propulsion Types by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Registrations in Units for Years 2020 through 2027 and % CAGR
  • Table 6: World 7-Year Perspective for Other Propulsion Types by Geographic Region - Percentage Breakdown of Volume Registrations for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2020, 2021 & 2027
  • Table 7: World Recent Past, Current & Future Analysis for NMC by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Registrations in Units for Years 2020 through 2027 and % CAGR
  • Table 8: World 7-Year Perspective for NMC by Geographic Region - Percentage Breakdown of Volume Registrations for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2020, 2021 & 2027
  • Table 9: World Recent Past, Current & Future Analysis for LFP by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Registrations in Units for Years 2020 through 2027 and % CAGR
  • Table 10: World 7-Year Perspective for LFP by Geographic Region - Percentage Breakdown of Volume Registrations for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2020, 2021 & 2027
  • Table 11: World Recent Past, Current & Future Analysis for Other Battery Types by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Registrations in Units for Years 2020 through 2027 and % CAGR
  • Table 12: World 7-Year Perspective for Other Battery Types by Geographic Region - Percentage Breakdown of Volume Registrations for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2020, 2021 & 2027
  • Table 13: World Recent Past, Current & Future Analysis for Long Haul Transportation by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Registrations in Units for Years 2020 through 2027 and % CAGR
  • Table 14: World 7-Year Perspective for Long Haul Transportation by Geographic Region - Percentage Breakdown of Volume Registrations for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2020, 2021 & 2027
  • Table 15: World Recent Past, Current & Future Analysis for Last Mile Delivery by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Registrations in Units for Years 2020 through 2027 and % CAGR
  • Table 16: World 7-Year Perspective for Last Mile Delivery by Geographic Region - Percentage Breakdown of Volume Registrations for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2020, 2021 & 2027
  • Table 17: World Recent Past, Current & Future Analysis for Distribution Service by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Registrations in Units for Years 2020 through 2027 and % CAGR
  • Table 18: World 7-Year Perspective for Distribution Service by Geographic Region - Percentage Breakdown of Volume Registrations for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2020, 2021 & 2027
  • Table 19: World Recent Past, Current & Future Analysis for Field Service by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Registrations in Units for Years 2020 through 2027 and % CAGR
  • Table 20: World 7-Year Perspective for Field Service by Geographic Region - Percentage Breakdown of Volume Registrations for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2020, 2021 & 2027
  • Table 21: World Recent Past, Current & Future Analysis for Refuse Service by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Registrations in Units for Years 2020 through 2027 and % CAGR
  • Table 22: World 7-Year Perspective for Refuse Service by Geographic Region - Percentage Breakdown of Volume Registrations for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2020, 2021 & 2027
  • Table 23: World Historic Review for Electric Commercial Vehicles by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Registrations in Units for Years 2020 through 2019 and % CAGR
  • Table 24: World Historic Review for BEV by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Registrations in Units for Years 2020 through 2019 and % CAGR
  • Table 25: World Historic Review for Other Propulsion Types by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Registrations in Units for Years 2020 through 2019 and % CAGR
  • Table 26: World Historic Review for NMC by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Registrations in Units for Years 2020 through 2019 and % CAGR
  • Table 27: World Historic Review for LFP by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Registrations in Units for Years 2020 through 2019 and % CAGR
  • Table 28: World Historic Review for Other Battery Types by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Registrations in Units for Years 2020 through 2019 and % CAGR
  • Table 29: World Historic Review for Long Haul Transportation by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Registrations in Units for Years 2020 through 2019 and % CAGR
  • Table 30: World Historic Review for Last Mile Delivery by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Registrations in Units for Years 2020 through 2019 and % CAGR
  • Table 31: World Historic Review for Distribution Service by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Registrations in Units for Years 2020 through 2019 and % CAGR
  • Table 32: World Historic Review for Field Service by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Registrations in Units for Years 2020 through 2019 and % CAGR
  • Table 33: World Historic Review for Refuse Service by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Registrations in Units for Years 2020 through 2019 and % CAGR
III. MARKET ANALYSIS
UNITED STATES
  • Electric Commercial Vehicles Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)
CANADA
JAPAN
  • Electric Commercial Vehicles Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)
CHINA
  • Electric Commercial Vehicles Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)
EUROPE
  • Electric Commercial Vehicles Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)
FRANCE
  • Electric Commercial Vehicles Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E)
GERMANY
  • Electric Commercial Vehicles Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E)
ITALY
UNITED KINGDOM
  • Electric Commercial Vehicles Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E)
REST OF EUROPE
ASIA-PACIFIC
  • Electric Commercial Vehicles Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)
REST OF WORLD
IV. COMPETITION
  • Total Companies Profiled: 112

Companies Mentioned

A selection of companies mentioned in this report includes:

  • AB Volvo
  • Anhui Ankai Automobile Co.,LTD.
  • BYD Auto Co., Ltd.
  • Daimler AG
  • EBUSCO B.V.
  • Ford Motor Company
  • NFI Group Inc.
  • Olectra Greentech Limited
  • Proterra Inc.
  • Rivian
  • Tata Motors Limited
  • Tesla Inc.
  • Traton SE
  • VDL Groep
  • Xiamen King Long United Automotive Industry Co., Ltd.
  • Zhengzhou Yutong Bus Co. Ltd
  • Zhongtong Bus Holding Co., Ltd.