PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1103060
PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1103060
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Global Electric Commercial Vehicles Market to Reach 948.1 Thousand Units by 2027
In the changed post COVID-19 business landscape, 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 aCAGR 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 analysis 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.
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