Electric Medium and Heavy Commercial Vehicles (eMHCV) Market Report 2026

The electric medium and heavy commercial vehicles (emhcv) market size has grown rapidly in recent years. It will grow from $11.49 billion in 2025 to $12.67 billion in 2026 at a compound annual growth rate (CAGR) of 10.3%. The growth in the historic period can be attributed to emission regulations, urban logistics growth, fuel cost volatility, pilot electric truck deployments, government incentives for commercial evs.

The electric medium and heavy commercial vehicles (emhcv) market size is expected to see rapid growth in the next few years. It will grow to $18.96 billion in 2030 at a compound annual growth rate (CAGR) of 10.6%. The growth in the forecast period can be attributed to battery cost reduction, charging infrastructure expansion, fleet electrification mandates, advances in energy density, autonomous commercial vehicles. Major trends in the forecast period include rapid adoption of electric freight fleets, expansion of urban zero-emission zones, growth of battery swapping and fast charging, integration of fleet telematics, rising demand for heavy-duty ev platforms.

The growth of the electric medium and heavy commercial vehicles (eMHCV) market is anticipated to be driven by the expanding e-commerce industry. The surge in e-commerce is fueled by increasing internet penetration, the convenience of online shopping, and the rising use of mobile devices for making purchases. eMHCVs are becoming more prevalent in e-commerce for their role in providing sustainable, efficient, and zero-emission transportation for goods delivery and logistics. For example, in August 2024, the U.S. Census Bureau reported that retail e-commerce sales reached $282.3 billion in the second quarter of 2024. This represents a 5.3% increase from the first quarter of 2023 and a 6.6% rise from the second quarter of 2023. Consequently, the growing demand for e-commerce is driving the electric medium and heavy commercial vehicles market.

Companies in the eMHCV market are concentrating on developing battery-electric truck ecanters to boost sustainability, reduce emissions, and cater to the rising demand for eco-friendly transportation solutions in urban and regional logistics. Battery-electric truck ecanters are commercial trucks equipped with electric propulsion systems, providing an environmentally friendly alternative to traditional diesel trucks. For instance, in April 2024, Daimler India Commercial Vehicles, an India-based manufacturer of commercial vehicles, introduced the all-electric light-duty truck Next Generation eCanter in India. This vehicle features an innovative eAxle that integrates the electric motor with the rear axle, resulting in a more compact drivetrain. This design improves the vehicle's efficiency and offers a broader range of configurations. The new model includes over 100 variants globally, covering different weight classes and cab configurations, allowing for greater operational versatility.

In February 2024, Volvo Group, a Swedish heavy vehicle manufacturer, acquired Proterra Inc.'s battery business for an undisclosed amount. This acquisition was a strategic move for Volvo to enhance its portfolio by integrating Proterra's expertise in electric medium and heavy commercial vehicles. Proterra Inc., based in the US, specializes in manufacturing electric medium and heavy commercial vehicles.

Major companies operating in the electric medium and heavy commercial vehicles (emhcv) market report include SAIC Motor Corporation, Hyundai Motor Group, Tesla Inc., BYD Company Ltd., Caterpillar Inc., Daimler AG, Volvo Group, Dongfeng Motor Corporation, MAN Truck & Bus SE, Beiqi Foton Motor Co. Ltd., Renault Trucks International, JBM Auto Limited, Proterra Inc., IVECO Group, Volta Trucks Ltd., Olectra Greentech Ltd., Freightliner Ltd., Alke Srl, KAMAZ Inc., Workhorse Group.

Asia-Pacific was the largest region in the electric medium and heavy commercial vehicles (eMHCV) market in 2025. The regions covered in the electric medium and heavy commercial vehicles (emhcv) market report include Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the electric medium and heavy commercial vehicles (emhcv) market report include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The electric medium and heavy commercial vehicles (eMHCV) market consists of sales of medium commercial vehicles and heavy-duty vehicles. 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.

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