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Electric VehicleCommercial Vehicle

PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1300947

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PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1300947

Electric Commercial Vehicle Market by Propulsion, Vehicle Type, Range, Battery Type, Power Output, Battery Capacity, Component, End User, Body Construction and Region - Global Forecast to 2030

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Table of Contents

The global electric commercial vehicle market size is projected to grow from 519.4 thousand units in 2023 to 2,155.1 thousand units by 2030, at a CAGR of 22.5%. Governments support to EV's through incentives and schemes for using electric vehicles and collaborating with top automobile manufacturers will increase the EV adoption . Electric commercial vehicles operates at lower cost than ICE commercial vehicles. Growing research of EV batteries and EV charging systems will drive the electric commercial vehicle market. Electric vehicle charging stations, battery swapping stations and fleet stations are required to be installed globally for growing the demand for electric commercial vehicles.

"Less Than 150 Miles is expected to be the largest market in the forecast period."

Low performance and affordable electric commercial vehicles usually have a range of less than 150 miles. Several OEMs offer electric vans with low-cost batteries with a restricted range of 100-150 miles. OEMs have been providing trucks and vans for this segment over the years. For instance, in 2023, Rizon, a brand of Daimler, launched the e18L, e16L, and the e16M medium duty electric trucks with a range of 110-160 miles. Furthermore, Bollinger Motors launched a medium duty all-electric truck Bollinger B4 in September 2022, which is an all-wheel-drive aluminum body vehicle. It has a range of 100 - 200 miles. Municipalities use low range electric vans and trucks for a variety of services, including waste collection, street sweeping, and maintenance tasks. Electric vehicles are an excellent choice for these tasks because they produce no emissions and are much quieter than gas or diesel-powered vehicles. In 2021, Irizar Group received order for 10 electric trucks which will be used for refuse services.

"NMC will be the largest segment in the forecast period by battery type"

Nickel-manganese-cobalt oxide batteries (NMC) are composed of several materials with different properties, high density, and efficiency. These batteries are ideal for use in electric commercial vehicles as they have a low self-heating rate while in operation. The chemical composition of the NMC batteries comprises lithium nickel manganese cobalt oxide as the cathode and graphite as the anode. The NMC batteries are very expensive and toxic due to the presence of cobalt. OEMs have now started to shift towards the adoption of higher content of nickel in cathodes. Compared to cobalt, nickel cells have a lower cost and higher life cycle. NMC batteries are preferable for a longer range and in colder climate conditions in Europe and North America. The NMC batteries are generally used because cobalt and nickel cells have a lower cost, higher life cycle, more stability, and higher energy density. NMC batteries are preferable for long-range and colder climate conditions in Europe and North America. NMC batteries offer high-density packs within the same dimension and same weight, due to which their demand is expected to significantly grow in upcoming years. In 2021, BHP announced the signing of a nickel supply agreement with Tesla, Inc. In addition to the supply agreement, BHP and Tesla Inc will collaborate on ways to make the battery supply chain more sustainable. In January 2022, GODI (India) announced the manufacturing of the first batch of commercial-grade NMC batteries. These factors are expected to fuel the growth of NMC batteries in electric commercial vehicles.

Asia Pacific shows high growth potential for electric commercial vehicle market

Asia Pacific is home to many OEMs, such as Mahindra & Mahindra Ltd. (India), BYD (China), King Long (China), Toyota Motor Corporation (Japan), and Nissan Motor Corporation (Japan). The Asia Pacific market is dominated by China, which has large sales volumes for electric commercial vehicles. Japan also plays a vital role in automotive technology in Asia Pacific. With advancements in technologies, the Japanese electric commercial vehicle market is expected to grow. In July 2022, Toyota Motor Corporation announced to work with Allied Motors to develop fuel cell electric vans. The rising demand of customers for faster deliveries is the key factor driving the growth of the last mile delivery market in Asia Pacific. Governments of these countries have encouraged installing EV charging stations, formulated emission norms, and set deadlines for shifting to full or hybrid EVs from ICE vehicles. India is also working on increasing its electric vans and trucks in the market. The new vehicle scrappage policy in which old vehicles can be scrapped off for changing to low emission zones and other upcoming policies will help the country become a lucrative market for electric commercial vehicle in the coming years.

"Last Mile Delivery is expected to be largest in market in the forecast period."

The rise of e-commerce has significantly increased the demand for last-mile delivery services, leading to various developments in the commercial vehicle sector. Companies are adding electric commercial vehicles, such as electric vans, electric trucks and pickup trucks, to their fleets to reduce expenses and reduce vehicle emissions. In May 2022, Terrago (India) used a fleet of 65 Mahindra Treo Zor cargo vehicles for delivery purpose in India. The electric commercial market will grow due to the increasing investments by governments across the globe.

In-depth interviews were conducted with CEOs, marketing directors, other innovation and technology directors, and executives from various key organizations operating in this market.

  • By Company Type: OEMs - 50% Tier I - 33%, Tier 2 - 17%, and
  • By Designation: CXOs-45% , Directors-35% , Others*- 20%
  • By Region: North America - 22%, Europe - 42% and Asia Pacific - 36%

The electric commercial vehicle market is dominated by established players such as BYD (China), Mercedes Benz Group AG (Germany), AB Volvo (Sweden), Tesla, Inc (US), and PACCAR Inc (US). The market ranking has been derived by considering ECV sales and a certain percentage of segmental revenue for each of the companies mentioned above. These companies also offer extensive products and solutions for the automotive industry. These companies have strong distribution networks at the global level, and they invest heavily in R&D to develop new products.

Research Coverage:

Electric Commercial Vehicle Market by Propulsion (BEV, FCEV), Vehicle Type (Pickup Truck, Truck, Van), Range, Battery Type, Power Output, Battery Capacity, Component, End User, by Body Construction and Region. It also covers the competitive landscape and company profiles of the major players in the electric commercial vehicle market ecosystem. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Reasons to buy the Report:

  • The report will help market leaders/new entrants in this market with information on the closest approximations of revenue numbers for the overall electric commercial vehicle market and its subsegments.
  • This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.
  • The report also helps stakeholders understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
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Product Code: AT 6196

TABLE OF CONTENTS

1 INTRODUCTION

  • 1.1 STUDY OBJECTIVES
  • 1.2 MARKET DEFINITION
    • 1.2.1 BY PROPULSION
    • 1.2.2 BY END USE
    • 1.2.3 BY BATTERY TYPE
    • 1.2.4 BY VEHICLE TYPE
    • 1.2.5 BY COMPONENT
  • 1.3 STUDY SCOPE
    • FIGURE 1 ELECTRIC COMMERCIAL VEHICLE MARKET SEGMENTATION
    • FIGURE 2 YEARS CONSIDERED
  • 1.4 INCLUSIONS AND EXCLUSIONS
    • TABLE 1 INCLUSIONS AND EXCLUSIONS
  • 1.5 CURRENCY
    • TABLE 2 CURRENCY EXCHANGE RATES (PER USD)
  • 1.6 STAKEHOLDERS
  • 1.7 SUMMARY OF CHANGES

2 RESEARCH METHODOLOGY

  • 2.1 RESEARCH DATA
    • FIGURE 3 RESEARCH DESIGN
    • 2.1.1 SECONDARY DATA
      • 2.1.1.1 Key data from secondary sources
      • 2.1.1.2 Key secondary sources
    • 2.1.2 PRIMARY DATA
      • 2.1.2.1 Key data from primary sources
      • 2.1.2.2 Participating companies for primary research
  • 2.2 MARKET SIZE ESTIMATION
    • 2.2.1 BOTTOM-UP APPROACH
    • FIGURE 4 BOTTOM-UP APPROACH
    • 2.2.2 TOP-DOWN APPROACH
    • FIGURE 5 TOP-DOWN APPROACH
  • 2.3 DATA TRIANGULATION
    • FIGURE 6 DATA TRIANGULATION
  • 2.4 FACTOR ANALYSIS
  • 2.5 RESEARCH ASSUMPTIONS
  • 2.6 RESEARCH LIMITATIONS
  • 2.7 RECESSION IMPACT ANALYSIS

3 EXECUTIVE SUMMARY

    • FIGURE 7 ELECTRIC COMMERCIAL VEHICLE MARKET OVERVIEW
    • FIGURE 8 ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2023 VS. 2030 (UNITS)
    • FIGURE 9 ELECTRIC COMMERCIAL VEHICLE MARKET, BY PROPULSION, 2023 VS. 2030 (UNITS)

4 PREMIUM INSIGHTS

  • 4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN ELECTRIC COMMERCIAL VEHICLE MARKET
    • FIGURE 10 INCREASED OWNERSHIP OF FUEL-EFFICIENT VEHICLES TO DRIVE DEMAND FOR ELECTRIC COMMERCIAL VEHICLES
  • 4.2 ELECTRIC COMMERCIAL VEHICLE MARKET, BY BODY CONSTRUCTION
    • FIGURE 11 FULL-SIZE TO SECURE LEADING MARKET POSITION BETWEEN 2023 AND 2030
  • 4.3 ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE
    • FIGURE 12 VANS TO SURPASS OTHER SEGMENTS DURING FORECAST PERIOD
  • 4.4 ELECTRIC COMMERCIAL VEHICLE MARKET, BY PROPULSION
    • FIGURE 13 BEVS TO RECORD HIGHEST CAGR BY 2030
  • 4.5 ELECTRIC COMMERCIAL VEHICLE MARKET, BY BATTERY TYPE
    • FIGURE 14 NMC BATTERIES TO ACQUIRE MAXIMUM SHARES FROM 2023 TO 2030
  • 4.6 ELECTRIC COMMERCIAL VEHICLE MARKET, BY BATTERY CAPACITY
    • FIGURE 15 60-120 KWH TO BE LARGEST SEGMENT BY 2030
  • 4.7 ELECTRIC COMMERCIAL VEHICLE MARKET, BY POWER OUTPUT
    • FIGURE 16 LESS THAN 100 KW TO EXCEED OTHER SEGMENTS DURING FORECAST PERIOD
  • 4.8 ELECTRIC COMMERCIAL VEHICLE MARKET, BY RANGE
    • FIGURE 17 LESS THAN 150 MILES TO HOLD MAJORITY SHARES BETWEEN 2023 AND 2030
  • 4.9 ELECTRIC COMMERCIAL VEHICLE MARKET, BY END USE
    • FIGURE 18 LAST-MILE DELIVERY TO BE LARGEST END-USE APPLICATION DURING FORECAST PERIOD
  • 4.10 ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION
    • FIGURE 19 ASIA PACIFIC TO ACCOUNT FOR LARGEST MARKET SHARE IN 2023

5 MARKET OVERVIEW

  • 5.1 INTRODUCTION
    • FIGURE 20 ROLE OF START-UPS IN ELECTRIC VEHICLE ECOSYSTEM
  • 5.2 MARKET DYNAMICS
    • FIGURE 21 ELECTRIC COMMERCIAL VEHICLE MARKET DYNAMICS
    • 5.2.1 DRIVERS
      • 5.2.1.1 Reduced cost of EV batteries
    • FIGURE 22 EV BATTERY PRICING
      • 5.2.1.2 Hike in price of fossil fuels
    • FIGURE 23 AVERAGE GLOBAL PETROL PRICES
    • FIGURE 24 OPERATING COST OF ELECTRIC VS. ICE VEHICLES, 2022
      • 5.2.1.3 Increased preference for emission-free commercial vehicles in logistics industry
    • FIGURE 25 GLOBAL FUEL ECONOMY AND CO2 EMISSIONS
    • TABLE 3 PURCHASE ORDER/SUPPLY CONTRACT FOR ELECTRIC COMMERCIAL VEHICLES
      • 5.2.1.4 Government support for electric commercial vehicles
    • TABLE 4 GOVERNMENT PROGRAMS FOR ELECTRIC COMMERCIAL VEHICLE SALES
    • FIGURE 26 GLOBAL REGULATORY COMPARISON FOR ELECTRIC VEHICLES AND CHARGERS
    • FIGURE 27 GLOBAL ELECTRIFICATION TARGETS
    • 5.2.2 RESTRAINTS
      • 5.2.2.1 High initial investment in electric commercial vehicle production
      • 5.2.2.2 Concerns associated with battery safety
    • FIGURE 28 BATTERY SAFETY ARCHITECTURE
      • 5.2.2.3 Lack of robust charging infrastructure
    • TABLE 5 EV CHARGER DENSITY, 2022
    • FIGURE 29 PRIVATE, SEMI-PUBLIC, AND PUBLIC CHARGING OWNERSHIP
      • 5.2.2.4 Low vehicle range
    • TABLE 6 NEW ELECTRIC COMMERCIAL VEHICLE MODELS, BY RANGE, 2022
    • 5.2.3 OPPORTUNITIES
      • 5.2.3.1 New revenue pockets in North America and Northern Europe
    • TABLE 7 ELECTRIC COMMERCIAL VEHICLE MODELS, BY COUNTRY
      • 5.2.3.2 Development of wireless EV charging technology for on-the-go charging
    • FIGURE 30 FUNCTIONING OF WIRELESS EV CHARGING
      • 5.2.3.3 Use of electric vehicles for fleets and commercial applications
    • TABLE 8 OEM ELECTRIC VEHICLE FLEET TARGETS, 2025-2030
    • 5.2.4 CHALLENGES
      • 5.2.4.1 Limited battery capacity
    • FIGURE 31 TIME REQUIRED FOR DIFFERENT CHARGING TYPES
      • 5.2.4.2 Low availability of lithium for EV batteries
    • FIGURE 32 GROWING DEMAND FOR LITHIUM-ION BATTERIES
      • 5.2.4.3 Insufficient grid infrastructure globally
    • FIGURE 33 GRID REQUIREMENT FOR ELECTRIC VEHICLES IN GERMANY
    • 5.2.5 IMPACT OF MARKET DYNAMICS
    • TABLE 9 IMPACT OF MARKET DYNAMICS
  • 5.3 PRICING ANALYSIS
    • 5.3.1 AVERAGE SELLING PRICE TREND, BY VEHICLE TYPE
    • TABLE 10 ELECTRIC VANS: AVERAGE PRICE (USD), 2022
    • TABLE 11 ELECTRIC PICKUP TRUCKS: AVERAGE PRICE (USD), 2022
    • TABLE 12 ELECTRIC TRUCKS: AVERAGE PRICE (USD), 2022
    • 5.3.2 GLOBAL PRICING ANALYSIS, BY VEHICLE TYPE
    • FIGURE 34 GLOBAL PRICING ANALYSIS, BY VEHICLE TYPE
    • TABLE 13 ELECTRIC TRUCKS: AVERAGE PRICE COMPARISON, BY CLASS
  • 5.4 POTENTIAL ELECTRIC COMMERCIAL VEHICLE LAUNCHES BY OEMS
    • TABLE 14 UPCOMING ELECTRIC COMMERCIAL VEHICLES
  • 5.5 BILL OF MATERIALS
    • FIGURE 35 BILL OF MATERIALS FOR ELECTRIC LIGHT COMMERCIAL VEHICLES
    • FIGURE 36 BILL OF MATERIALS, BATTERY VS. NON-BATTERY COMPONENTS
  • 5.6 OEM SOURCING STRATEGIES
    • 5.6.1 SOURCING STRATEGIES BY ELECTRIC COMMERCIAL VEHICLE OEMS
    • FIGURE 37 OEM SOURCING STRATEGIES
    • 5.6.2 OEM MOTOR RATING ANALYSIS, BY RANGE
    • FIGURE 38 ELECTRIC COMMERCIAL VEHICLE MARKET, BY RANGE
    • 5.6.3 COMPETITIVE MARKET ASSESSMENT, BY PAYLOAD CAPACITY
    • FIGURE 39 MARKET COMPETITIVE ASSESSMENT, BY PAYLOAD CAPACITY
    • FIGURE 40 CARGO DELIVERY VS. PAYLOAD CAPACITY
  • 5.7 SUPPLY CHAIN ANALYSIS
    • FIGURE 41 SUPPLY CHAIN ANALYSIS
  • 5.8 ECOSYSTEM MAPPING
    • FIGURE 42 ELECTRIC COMMERCIAL VEHICLE MARKET ECOSYSTEM
    • FIGURE 43 ELECTRIC COMMERCIAL VEHICLE MARKET ECOSYSTEM MAP
    • 5.8.1 EV CHARGING INFRASTRUCTURE PROVIDERS
    • 5.8.2 TIER II SUPPLIERS
    • 5.8.3 TIER I SUPPLIERS
    • 5.8.4 RAW MATERIAL SUPPLIERS
    • 5.8.5 OEMS
    • TABLE 15 ROLE OF COMPANIES IN ELECTRIC COMMERCIAL VEHICLE MARKET ECOSYSTEM
  • 5.9 TOTAL COST OF OWNERSHIP
    • TABLE 16 TOTAL COST OF OWNERSHIP
    • FIGURE 44 TOTAL COST OF OWNERSHIP-FORD ELECTRIC TRANSIT VS. ICE TRANSIT 3.5 TONS MODEL
  • 5.10 INSIGHTS ON ELECTRIC COMMERCIAL VEHICLE RANGE
    • 5.10.1 RANGE/BATTERY CAPACITY
    • TABLE 17 RANGE VS. BATTERY CAPACITY
    • 5.10.2 RANGE/END USE
    • TABLE 18 RANGE VS. END USE
    • 5.10.3 BATTERY CAPACITY/END USE
    • TABLE 19 BATTERY CAPACITY VS. END USE
    • 5.10.4 POWER/CHARGING DURATION
    • TABLE 20 POWER VS. CHARGING DURATION
  • 5.11 CASE STUDY ANALYSIS
    • 5.11.1 USER EXPERIENCE OF BATTERY-ELECTRIC TRUCKS IN NORWAY
    • 5.11.2 ELECTRIC VEHICLE FLEETS FOR PUBLIC SECTOR IN VERMONT
  • 5.12 PATENT ANALYSIS
    • TABLE 21 PATENT REGISTRATIONS RELATED TO ELECTRIC COMMERCIAL VEHICLE MARKET, 2021-2023
    • TABLE 22 PATENTED DOCUMENTS ANALYSIS, BY PUBLISHED, FILED, AND GRANTED, 2017-2023
  • 5.13 TECHNOLOGY ANALYSIS
    • 5.13.1 OFFBOARD TOP-DOWN PANTOGRAPH CHARGING SYSTEMS
    • 5.13.2 ONBOARD BOTTOM-UP PANTOGRAPH CHARGING SYSTEMS
    • 5.13.3 GROUND-BASED STATIC/DYNAMIC WIRELESS CHARGING SYSTEMS
    • 5.13.4 PACKAGED FUEL CELL SYSTEM MODULES
    • FIGURE 45 TOYOTA'S PACKAGED FUEL CELL SYSTEM MODULE
    • 5.13.5 METHANE FUEL CELLS
    • 5.13.6 SMART CHARGING SYSTEMS
    • FIGURE 46 SMART EV CHARGING SYSTEM
    • 5.13.7 IOT IN ELECTRIC VEHICLES
    • 5.13.8 SOLID-STATE BATTERIES
    • 5.13.9 RANGE EXTENDERS IN ELECTRIC TRUCKS
  • 5.14 TRADE ANALYSIS
    • TABLE 23 CHINA: IMPORT OF ELECTRIC COMMERCIAL VEHICLES
    • TABLE 24 JAPAN: IMPORT OF ELECTRIC COMMERCIAL VEHICLES
    • TABLE 25 GERMANY: IMPORT OF ELECTRIC COMMERCIAL VEHICLES
    • TABLE 26 US: IMPORT OF ELECTRIC COMMERCIAL VEHICLES
    • TABLE 27 CANADA: IMPORT OF ELECTRIC COMMERCIAL VEHICLES
  • 5.15 REGULATORY OVERVIEW
    • 5.15.1 COUNTRY-WISE REGULATIONS
      • 5.15.1.1 Netherlands
    • TABLE 28 NETHERLANDS: ELECTRIC VEHICLE INCENTIVES
    • TABLE 29 NETHERLANDS: EV CHARGING STATION INCENTIVES
      • 5.15.1.2 Germany
    • TABLE 30 GERMANY: ELECTRIC VEHICLE INCENTIVES
    • TABLE 31 GERMANY: EV CHARGING STATION INCENTIVES
      • 5.15.1.3 France
    • TABLE 32 FRANCE: ELECTRIC VEHICLE INCENTIVES
    • TABLE 33 FRANCE: EV CHARGING STATION INCENTIVES
      • 5.15.1.4 UK
    • TABLE 34 UK: ELECTRIC VEHICLE INCENTIVES
    • TABLE 35 UK: EV CHARGING STATION INCENTIVES
      • 5.15.1.5 China
    • TABLE 36 CHINA: ELECTRIC VEHICLE INCENTIVES
    • TABLE 37 CHINA: EV CHARGING STATION INCENTIVES
      • 5.15.1.6 US
    • TABLE 38 US: ELECTRIC VEHICLE INCENTIVES
    • TABLE 39 US: EV CHARGING STATION INCENTIVES
    • 5.15.2 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
    • TABLE 40 ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
    • TABLE 41 NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
    • TABLE 42 EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
    • TABLE 43 ROW: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
  • 5.16 CONFERENCES AND EVENTS, 2023-2024
    • TABLE 44 CONFERENCES AND EVENTS, 2023-2024
  • 5.17 KEY STAKEHOLDERS AND BUYING CRITERIA
    • 5.17.1 KEY STAKEHOLDERS IN BUYING PROCESS
    • TABLE 45 INFLUENCE OF INSTITUTIONAL BUYERS ON PURCHASE OF ELECTRIC COMMERCIAL VEHICLES
    • 5.17.2 BUYING CRITERIA
  • 5.18 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS
    • FIGURE 47 REVENUE SHIFT AND NEW REVENUE POCKETS FOR PLAYERS IN ELECTRIC COMMERCIAL VEHICLE MARKET
  • 5.19 ELECTRIC COMMERCIAL VEHICLE MARKET SCENARIOS, 2023-2030
    • 5.19.1 MOST LIKELY SCENARIO
    • TABLE 46 MOST LIKELY SCENARIO, BY REGION, 2023-2030 (UNITS)
    • 5.19.2 OPTIMISTIC SCENARIO
    • TABLE 47 OPTIMISTIC SCENARIO, BY REGION, 2023-2030 (UNITS)
    • 5.19.3 PESSIMISTIC SCENARIO
    • TABLE 48 PESSIMISTIC SCENARIO, BY REGION, 2023-2030 (UNITS)

6 ELECTRIC COMMERCIAL VEHICLE MARKET, BY BODY CONSTRUCTION

  • 6.1 INTRODUCTION
    • FIGURE 48 ELECTRIC COMMERCIAL VEHICLE MARKET, BY BODY CONSTRUCTION, 2023-2030 (UNITS)
    • TABLE 49 ELECTRIC COMMERCIAL VEHICLE MARKET, BY BODY CONSTRUCTION, 2019-2022 (UNITS)
    • TABLE 50 ELECTRIC COMMERCIAL VEHICLE MARKET, BY BODY CONSTRUCTION, 2023-2030 (UNITS)
  • 6.2 INTEGRATED
    • 6.2.1 REDUCED PRODUCTION COSTS TO DRIVE GROWTH
  • 6.3 SEMI-INTEGRATED
    • 6.3.1 IMPROVED STRUCTURAL STRENGTH TO DRIVE GROWTH
  • 6.4 FULL-SIZE
    • 6.4.1 SPACIOUS CARGO CAPACITY TO DRIVE GROWTH
  • 6.5 KEY INDUSTRY INSIGHTS

7 ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE

  • 7.1 INTRODUCTION
    • FIGURE 49 ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2023-2030 (UNITS)
    • TABLE 51 ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2019-2022 (UNITS)
    • TABLE 52 ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2023-2030 (UNITS)
    • TABLE 53 ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2019-2022 (USD MILLION)
    • TABLE 54 ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2023-2030 (USD MILLION)
  • 7.2 PICKUP TRUCKS
    • 7.2.1 INCREASED OFFERINGS FROM OEMS TO DRIVE GROWTH
    • TABLE 55 PICKUP TRUCKS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2019-2022 (UNITS)
    • TABLE 56 PICKUP TRUCKS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2023-2030 (UNITS)
    • TABLE 57 PICKUP TRUCKS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2019-2022 (USD MILLION)
    • TABLE 58 PICKUP TRUCKS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2023-2030 (USD MILLION)
  • 7.3 TRUCKS
    • 7.3.1 ADVANCEMENTS IN BATTERY TECHNOLOGY TO DRIVE MARKET
    • TABLE 59 TRUCKS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2019-2022 (UNITS)
    • TABLE 60 TRUCKS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2023-2030 (UNITS)
    • TABLE 61 TRUCKS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2019-2022 (USD MILLION)
    • TABLE 62 TRUCKS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2023-2030 (USD MILLION)
      • 7.3.1.1 Medium-duty trucks
    • TABLE 63 MEDIUM-DUTY TRUCKS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2019-2022 (UNITS)
    • TABLE 64 MEDIUM-DUTY TRUCKS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2023-2030 (UNITS)
    • TABLE 65 MEDIUM-DUTY TRUCKS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2019-2022 (USD MILLION)
    • TABLE 66 MEDIUM-DUTY TRUCKS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2023-2030 (USD MILLION)
      • 7.3.1.2 Heavy-duty trucks
    • TABLE 67 HEAVY-DUTY TRUCKS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2019-2022 (UNITS)
    • TABLE 68 HEAVY-DUTY TRUCKS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2023-2030 (UNITS)
    • TABLE 69 HEAVY-DUTY TRUCKS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2019-2022 (USD MILLION)
    • TABLE 70 HEAVY-DUTY TRUCKS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2023-2030 (USD MILLION)
  • 7.4 VANS
    • 7.4.1 BOOMING LOGISTICS INDUSTRY TO DRIVE GROWTH
    • TABLE 71 VANS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2019-2022 (UNITS)
    • TABLE 72 VANS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2023-2030 (UNITS)
    • TABLE 73 VANS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2019-2022 (USD MILLION)
    • TABLE 74 VANS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2023-2030 (USD MILLION)
      • 7.4.1.1 Light vans
    • TABLE 75 LIGHT VANS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2019-2022 (UNITS)
    • TABLE 76 LIGHT VANS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2023-2030 (UNITS)
    • TABLE 77 LIGHT VANS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2019-2022 (USD MILLION)
    • TABLE 78 LIGHT VANS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2023-2030 (USD MILLION)
      • 7.4.1.2 Full-size vans
    • TABLE 79 FULL-SIZE VANS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2019-2022 (UNITS)
    • TABLE 80 FULL-SIZE VANS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2023-2030 (UNITS)
    • TABLE 81 FULL-SIZE VANS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2019-2022 (USD MILLION)
    • TABLE 82 FULL-SIZE VANS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2023-2030 (USD MILLION)
  • 7.5 KEY INDUSTRY INSIGHTS

8 ELECTRIC COMMERCIAL VEHICLE MARKET, BY PROPULSION

  • 8.1 INTRODUCTION
    • FIGURE 50 ELECTRIC COMMERCIAL VEHICLE MARKET, BY PROPULSION, 2023-2030 (UNITS)
    • TABLE 83 ELECTRIC COMMERCIAL VEHICLE MARKET, BY PROPULSION, 2019-2022 (UNITS)
    • TABLE 84 ELECTRIC COMMERCIAL VEHICLE MARKET, BY PROPULSION, 2023-2030 (UNITS)
  • 8.2 BEVS
    • 8.2.1 GOVERNMENT INCENTIVES AND SUBSIDIES TO DRIVE GROWTH
    • TABLE 85 BEVS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2019-2022 (UNITS)
    • TABLE 86 BEVS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2023-2030 (UNITS)
  • 8.3 FCEVS
    • 8.3.1 ONGOING DEVELOPMENTS BY OEMS TO DRIVE GROWTH
    • TABLE 87 FCEVS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2019-2022 (UNITS)
    • TABLE 88 FCEVS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2023-2030 (UNITS)
  • 8.4 KEY INDUSTRY INSIGHTS

9 ELECTRIC COMMERCIAL VEHICLE MARKET, BY BATTERY TYPE

  • 9.1 INTRODUCTION
    • FIGURE 51 ELECTRIC COMMERCIAL VEHICLE MARKET, BY BATTERY TYPE, 2023-2030 (UNITS)
    • TABLE 89 ELECTRIC COMMERCIAL VEHICLE MARKET, BY BATTERY TYPE, 2019-2022 (UNITS)
    • TABLE 90 ELECTRIC COMMERCIAL VEHICLE MARKET, BY BATTERY TYPE, 2023-2030 (UNITS)
  • 9.2 NMC BATTERIES
    • 9.2.1 HIGH DENSITY AND COMPACT SIZE OF NMC BATTERIES TO DRIVE GROWTH
    • TABLE 91 NMC BATTERIES: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2019-2022 (UNITS)
    • TABLE 92 NMC BATTERIES: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2023-2030 (UNITS)
  • 9.3 LFP BATTERIES
    • 9.3.1 AFFORDABLE BATTERY PRICES TO DRIVE GROWTH
    • TABLE 93 LFP BATTERIES: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2019-2022 (UNITS)
    • TABLE 94 LFP BATTERIES: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2023-2030 (UNITS)
  • 9.4 SOLID-STATE BATTERIES
    • 9.4.1 FAST RECHARGING CAPABILITIES TO DRIVE GROWTH
    • TABLE 95 SOLID-STATE BATTERIES: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2019-2022 (UNITS)
    • TABLE 96 SOLID-STATE BATTERIES: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2023-2030 (UNITS)
  • 9.5 OTHER BATTERIES
    • TABLE 97 OTHER BATTERIES: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2019-2022 (UNITS)
    • TABLE 98 OTHER BATTERIES: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2023-2030 (UNITS)
  • 9.6 KEY INDUSTRY INSIGHTS

10 ELECTRIC COMMERCIAL VEHICLE MARKET, BY BATTERY CAPACITY

  • 10.1 INTRODUCTION
    • FIGURE 52 ELECTRIC COMMERCIAL VEHICLE MARKET, BY BATTERY CAPACITY, 2023-2030 (UNITS)
    • TABLE 99 ELECTRIC COMMERCIAL VEHICLE MARKET, BY BATTERY CAPACITY, 2019-2022 (UNITS)
    • TABLE 100 ELECTRIC COMMERCIAL VEHICLE MARKET, BY BATTERY CAPACITY, 2023-2030 (UNITS)
  • 10.2 LESS THAN 60 KWH
    • 10.2.1 INCREASED USE OF LESS THAN 60 KWH BATTERIES IN SHUTTLE SERVICES TO DRIVE GROWTH
    • TABLE 101 LESS THAN 60 KWH: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2019-2022 (UNITS)
    • TABLE 102 LESS THAN 60 KWH: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2023-2030 (UNITS)
  • 10.3 60-120 KWH
    • 10.3.1 GOVERNMENT SUBSIDIES TO DRIVE GROWTH
    • TABLE 103 60-120 KWH: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2019-2022 (UNITS)
    • TABLE 104 60-120 KWH: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2023-2030 (UNITS)
  • 10.4 121-200 KWH
    • 10.4.1 IMPROVED DRIVING RANGE TO DRIVE GROWTH
    • TABLE 105 121-200 KWH: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2019-2022 (UNITS)
    • TABLE 106 121-200 KWH: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2023-2030 (UNITS)
  • 10.5 201-300 KWH
    • 10.5.1 LARGE-SCALE USE IN INTER-CITY TRANSPORTATION TO DRIVE GROWTH
    • TABLE 107 210-300 KWH ELECTRIC COMMERCIAL VEHICLE MODELS, BY OEM
    • TABLE 108 201-300 KWH: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2019-2022 (UNITS)
    • TABLE 109 201-300 KWH: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2023-2030 (UNITS)
  • 10.6 301-500 KWH
    • 10.6.1 GROWING PREFERENCE FOR LONG-RANGE ELECTRIC COMMERCIAL VEHICLES TO DRIVE GROWTH
    • TABLE 110 301-500 KWH: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2019-2022 (UNITS)
    • TABLE 111 301-500 KWH: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2023-2030 (UNITS)
  • 10.7 501-1000 KWH
    • 10.7.1 GROWING E-COMMERCE AND RETAIL INDUSTRIES TO DRIVE GROWTH
    • TABLE 112 501-1000 KWH: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2019-2022 (UNITS)
    • TABLE 113 501-1000 KWH: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2023-2030 (UNITS)
  • 10.8 KEY INDUSTRY INSIGHTS

11 ELECTRIC COMMERCIAL VEHICLE MARKET, BY POWER OUTPUT

  • 11.1 INTRODUCTION
    • FIGURE 53 ELECTRIC COMMERCIAL VEHICLE MARKET, BY POWER OUTPUT, 2023-2030 (UNITS)
    • TABLE 114 ELECTRIC COMMERCIAL VEHICLE MARKET, BY POWER OUTPUT, 2019-2022 (UNITS)
    • TABLE 115 ELECTRIC COMMERCIAL VEHICLE MARKET, BY POWER OUTPUT, 2023-2030 (UNITS)
  • 11.2 LESS THAN 100 KW
    • 11.2.1 INCREASING USE OF ELECTRIC VANS FOR DELIVERIES BY LOGISTICS COMPANIES TO DRIVE GROWTH
    • TABLE 116 LESS THAN 100 KW: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2019-2022 (UNITS)
    • TABLE 117 LESS THAN 100 KW: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2023-2030 (UNITS)
  • 11.3 100-250 KW
    • 11.3.1 DEVELOPMENT OF ADVANCED PICKUP TRUCKS TO DRIVE GROWTH
    • TABLE 118 100-250 KW: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2019-2022 (UNITS)
    • TABLE 119 100-250 KW: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2023-2030 (UNITS)
  • 11.4 ABOVE 250 KW
    • 11.4.1 UPCOMING MARKET FOR HEAVY ELECTRIC TRUCKS TO DRIVE GROWTH
    • TABLE 120 ABOVE 250 KW: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2019-2022 (UNITS)
    • TABLE 121 ABOVE 250 KW: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2023-2030 (UNITS)
  • 11.5 KEY INDUSTRY INSIGHTS

12 ELECTRIC COMMERCIAL VEHICLE MARKET, BY RANGE

  • 12.1 INTRODUCTION
    • FIGURE 54 ELECTRIC COMMERCIAL VEHICLE MARKET, BY RANGE, 2023-2030 (UNITS)
    • TABLE 122 ELECTRIC COMMERCIAL VEHICLE MARKET, BY RANGE, 2019-2022 (UNITS)
    • TABLE 123 ELECTRIC COMMERCIAL VEHICLE MARKET, BY RANGE, 2023-2030 (UNITS)
  • 12.2 LESS THAN 150 MILES
    • 12.2.1 GROWING USE OF ELECTRIC VANS FOR MUNICIPAL PURPOSES TO DRIVE GROWTH
    • TABLE 124 LESS THAN 150 MILES: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2019-2022 (UNITS)
    • TABLE 125 LESS THAN 150 MILES: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2023-2030 (UNITS)
  • 12.3 150-300 MILES
    • 12.3.1 HIGH ADOPTION OF ELECTRIC TRUCKS FOR DISTRIBUTION SERVICES TO DRIVE GROWTH
    • TABLE 126 150-300 MILES: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2019-2022 (UNITS)
    • TABLE 127 150-300 MILES: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2023-2030 (UNITS)
  • 12.4 ABOVE 300 MILES
    • 12.4.1 EXPANDING CHARGING INFRASTRUCTURE TO DRIVE GROWTH
    • TABLE 128 ABOVE 300 MILES: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2019-2022 (UNITS)
    • TABLE 129 ABOVE 300 MILES: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2023-2030 (UNITS)
  • 12.5 KEY INDUSTRY INSIGHTS

13 ELECTRIC COMMERCIAL VEHICLE MARKET, BY END USE

  • 13.1 INTRODUCTION
    • FIGURE 55 ELECTRIC COMMERCIAL VEHICLE MARKET, BY END USER, 2023-2030 (UNITS)
    • TABLE 130 ELECTRIC COMMERCIAL VEHICLE MARKET, BY END USER, 2019-2022 (UNITS)
    • TABLE 131 ELECTRIC COMMERCIAL VEHICLE MARKET, BY END USER, 2023-2030 (UNITS)
  • 13.2 LAST-MILE DELIVERY
    • 13.2.1 GROWING E-COMMERCE APPLICATIONS TO DRIVE GROWTH
  • 13.3 FIELD SERVICES
    • 13.3.1 NEED FOR FIELD MAINTENANCE TO DRIVE GROWTH
  • 13.4 DISTRIBUTION SERVICES
    • 13.4.1 WIDESPREAD USE OF DELIVERY SERVICES TO DRIVE GROWTH
  • 13.5 LONG-HAUL TRANSPORTATION
    • 13.5.1 INCREASED ADOPTION OF ELECTRIC TRUCKS FOR INTERCITY FREIGHT TRANSPORTATION TO DRIVE GROWTH
  • 13.6 REFUSE TRUCKS
    • 13.6.1 IMPROVED AWARENESS TOWARD WASTE MANAGEMENT SERVICES TO DRIVE GROWTH
  • 13.7 KEY INDUSTRY INSIGHTS

14 ELECTRIC COMMERCIAL VEHICLE MARKET, BY COMPONENT

  • 14.1 INTRODUCTION
  • 14.2 BATTERY PACKS
    • TABLE 132 PRODUCTS OFFERED, BY BATTERY MANUFACTURERS
  • 14.3 ONBOARD CHARGERS
    • TABLE 133 ONBOARD CHARGER MANUFACTURERS FOR ELECTRIC COMMERCIAL VEHICLES
  • 14.4 ELECTRIC MOTORS
    • TABLE 134 ELECTRIC TRUCK MODELS, BY ELECTRIC MOTOR TYPE
  • 14.5 INVERTERS
  • 14.6 DC-DC CONVERTERS
    • FIGURE 56 DC-DC CONVERTER
  • 14.7 FUEL-CELL STACKS

15 ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION

  • 15.1 INTRODUCTION
    • FIGURE 57 GLOBAL LIGHT ELECTRIC COMMERCIAL VEHICLE TARGETS
    • FIGURE 58 GLOBAL ELECTRIC COMMERCIAL VEHICLE MARKET STRATEGIES
    • FIGURE 59 ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2023-2030 (UNITS)
    • TABLE 135 ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2019-2022 (UNITS)
    • TABLE 136 ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2023-2030 (UNITS)
    • TABLE 137 ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2019-2022 (USD MILLION)
    • TABLE 138 ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2023-2030 (USD MILLION)
  • 15.2 ASIA PACIFIC
    • 15.2.1 RECESSION IMPACT ANALYSIS
    • FIGURE 60 ASIA PACIFIC: ELECTRIC COMMERCIAL VEHICLE MARKET SNAPSHOT
    • TABLE 139 ASIA PACIFIC: ELECTRIC COMMERCIAL VEHICLE MARKET, BY COUNTRY, 2019-2022 (UNITS)
    • TABLE 140 ASIA PACIFIC: ELECTRIC COMMERCIAL VEHICLE MARKET, BY COUNTRY, 2023-2030 (UNITS)
    • TABLE 141 ASIA PACIFIC: ELECTRIC COMMERCIAL VEHICLE MARKET, BY COUNTRY, 2019-2022 (USD MILLION)
    • TABLE 142 ASIA PACIFIC: ELECTRIC COMMERCIAL VEHICLE MARKET, BY COUNTRY, 2023-2030 (USD MILLION)
    • 15.2.2 CHINA
      • 15.2.2.1 Predominance of leading players to drive growth
    • TABLE 143 CHINA: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2019-2022 (UNITS)
    • TABLE 144 CHINA: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2023-2030 (UNITS)
    • TABLE 145 CHINA: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2019-2022 (USD MILLION)
    • TABLE 146 CHINA: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2023-2030 (USD MILLION)
    • 15.2.3 JAPAN
      • 15.2.3.1 Increased investments in R&D to drive growth
    • TABLE 147 JAPAN: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2019-2022 (UNITS)
    • TABLE 148 JAPAN ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2023-2030 (UNITS)
    • TABLE 149 JAPAN: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2019-2022 (USD MILLION)
    • TABLE 150 JAPAN ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2023-2030 (USD MILLION)
    • 15.2.4 INDIA
      • 15.2.4.1 Booming automotive industry to drive growth
    • TABLE 151 PLANNED INVESTMENTS IN INDIAN BATTERY MANUFACTURING SPACE, 2022
    • TABLE 152 INDIA: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2019-2022 (UNITS)
    • TABLE 153 INDIA: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2023-2030 (UNITS)
    • TABLE 154 INDIA: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2019-2022 (USD MILLION)
    • TABLE 155 INDIA: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2023-2030 (USD MILLION)
    • 15.2.5 SOUTH KOREA
      • 15.2.5.1 Rising demand for electric pickup trucks to drive growth
    • TABLE 156 SOUTH KOREA: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2019-2022 (UNITS)
    • TABLE 157 SOUTH KOREA: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2023-2030 (UNITS)
    • TABLE 158 SOUTH KOREA: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2019-2022 (USD MILLION)
    • TABLE 159 SOUTH KOREA: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2023-2030 (USD MILLION)
  • 15.3 EUROPE
    • 15.3.1 RECESSION IMPACT ANALYSIS
    • FIGURE 61 EUROPE: ELECTRIC COMMERCIAL VEHICLE MARKET, BY COUNTRY, 2023-2030 (UNITS)
    • TABLE 160 EUROPE: ELECTRIC COMMERCIAL VEHICLE MARKET, BY COUNTRY, 2019-2022 (UNITS)
    • TABLE 161 EUROPE: ELECTRIC COMMERCIAL VEHICLE MARKET, BY COUNTRY, 2023-2030 (UNITS)
    • TABLE 162 EUROPE: ELECTRIC COMMERCIAL VEHICLE MARKET, BY COUNTRY, 2019-2022 (USD MILLION)
    • TABLE 163 EUROPE: ELECTRIC COMMERCIAL VEHICLE MARKET, BY COUNTRY, 2023-2030 (USD MILLION)
    • 15.3.2 FRANCE
      • 15.3.2.1 Increased adoption of electric vans for delivery purposes to drive growth
    • TABLE 164 FRANCE: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2019-2022 (UNITS)
    • TABLE 165 FRANCE: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2023-2030 (UNITS)
    • TABLE 166 FRANCE: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2019-2022 (USD MILLION)
    • TABLE 167 FRANCE: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2023-2030 (USD MILLION)
    • 15.3.3 GERMANY
      • 15.3.3.1 Setup of charging corridors to drive growth
    • TABLE 168 GERMANY: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2019-2022 (UNITS)
    • TABLE 169 GERMANY: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2023-2030 (UNITS)
    • TABLE 170 GERMANY: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2019-2022 (USD MILLION)
    • TABLE 171 GERMANY: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2023-2030 (USD MILLION)
    • 15.3.4 SPAIN
      • 15.3.4.1 Government focus on sustainable mobility solutions to drive growth
    • TABLE 172 SPAIN: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2019-2022 (UNITS)
    • TABLE 173 SPAIN: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2023-2030 (UNITS)
    • TABLE 174 SPAIN: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2019-2022 (USD MILLION)
    • TABLE 175 SPAIN: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2023-2030 (USD MILLION)
    • 15.3.5 AUSTRIA
      • 15.3.5.1 Government incentives to drive growth
    • TABLE 176 AUSTRIA: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2019-2022 (UNITS)
    • TABLE 177 AUSTRIA: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2023-2030 (UNITS)
    • TABLE 178 AUSTRIA: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2019-2022 (USD MILLION)
    • TABLE 179 AUSTRIA: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2023-2030 (USD MILLION)
    • 15.3.6 NORWAY
      • 15.3.6.1 Logistics and fleet providers to drive growth
    • TABLE 180 NORWAY: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2019-2022 (UNITS)
    • TABLE 181 NORWAY: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2023-2030 (UNITS)
    • TABLE 182 NORWAY: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2019-2022 (USD MILLION)
    • TABLE 183 NORWAY: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2023-2030 (USD MILLION)
    • 15.3.7 SWEDEN
      • 15.3.7.1 Presence of leading OEMs and start-ups to drive growth
    • TABLE 184 SWEDEN: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2019-2022 (UNITS)
    • TABLE 185 SWEDEN: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2023-2030 (UNITS)
    • TABLE 186 SWEDEN: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2019-2022 (USD MILLION)
    • TABLE 187 SWEDEN: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2023-2030 (USD MILLION)
    • 15.3.8 NETHERLANDS
      • 15.3.8.1 Development of EV charging infrastructure to drive growth
    • TABLE 188 NETHERLANDS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2019-2022 (UNITS)
    • TABLE 189 NETHERLANDS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2023-2030 (UNITS)
    • TABLE 190 NETHERLANDS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2019-2022 (USD MILLION)
    • TABLE 191 NETHERLANDS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2023-2030 (USD MILLION)
    • 15.3.9 UK
      • 15.3.9.1 Government electrification targets to drive growth
    • FIGURE 62 UK EV ROADMAP
    • TABLE 192 UK: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2019-2022 (UNITS)
    • TABLE 193 UK: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2023-2030 (UNITS)
    • TABLE 194 UK: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2019-2022 (USD MILLION)
    • TABLE 195 UK: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2023-2030 (USD MILLION)
    • 15.3.10 ITALY
      • 15.3.10.1 Advancements in electric commercial vehicles to drive growth
    • TABLE 196 ITALY: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2019-2022 (UNITS)
    • TABLE 197 ITALY: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2023-2030 (UNITS)
    • TABLE 198 ITALY: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2019-2022 (USD MILLION)
    • TABLE 199 ITALY: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2023-2030 (USD MILLION)
    • 15.3.11 OTHERS
    • TABLE 200 OTHERS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2019-2022 (UNITS)
    • TABLE 201 OTHERS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2023-2030 (UNITS)
    • TABLE 202 OTHERS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2019-2022 (USD MILLION)
    • TABLE 203 OTHERS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2023-2030 (USD MILLION)
  • 15.4 NORTH AMERICA
    • 15.4.1 RECESSION IMPACT ANALYSIS
    • FIGURE 63 NORTH AMERICAN EV BATTERY INITIATIVES
    • FIGURE 64 NORTH AMERICA: ELECTRIC COMMERCIAL VEHICLE MARKET SNAPSHOT
    • TABLE 204 NORTH AMERICA: ELECTRIC COMMERCIAL VEHICLE MARKET, BY COUNTRY, 2019-2022 (UNITS)
    • TABLE 205 NORTH AMERICA: ELECTRIC COMMERCIAL VEHICLE MARKET, BY COUNTRY, 2023-2030 (UNITS)
    • TABLE 206 NORTH AMERICA: ELECTRIC COMMERCIAL VEHICLE MARKET, BY COUNTRY, 2019-2022 (USD MILLION)
    • TABLE 207 NORTH AMERICA: ELECTRIC COMMERCIAL VEHICLE MARKET, BY COUNTRY, 2023-2030 (USD MILLION)
    • 15.4.2 US
      • 15.4.2.1 Rising adoption of electric pickup trucks in US to drive growth
    • FIGURE 65 INTEGRATION MODEL FOR ELECTRIC PICKUP TRUCKS IN FLEETS
    • FIGURE 66 ELECTRIC COMMERCIAL VEHICLE DEMAND, BY END USER
    • TABLE 208 US: ELECTRIC VEHICLE INCENTIVES
    • TABLE 209 US: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2019-2022 (UNITS)
    • TABLE 210 US: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2023-2030 (UNITS)
    • TABLE 211 US: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2019-2022 (USD MILLION)
    • TABLE 212 US: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2023-2030 (USD MILLION)
    • 15.4.3 CANADA
      • 15.4.3.1 Government subsidies and presence of key players to drive growth
    • TABLE 213 CANADA: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2019-2022 (UNITS)
    • TABLE 214 CANADA: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2023-2030 (UNITS)
    • TABLE 215 CANADA: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2019-2022 (USD MILLION)
    • TABLE 216 CANADA: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2023-2030 (USD MILLION)

16 COMPETITIVE LANDSCAPE

  • 16.1 OVERVIEW
  • 16.2 MARKET SHARE ANALYSIS, 2022
    • TABLE 217 MARKET SHARE ANALYSIS, 2022
    • FIGURE 67 MARKET SHARE ANALYSIS, 2022
    • 16.2.1 BYD
    • 16.2.2 MERCEDES-BENZ GROUP AG
    • 16.2.3 AB VOLVO
    • 16.2.4 TESLA, INC
    • 16.2.5 PACCAR INC
  • 16.3 STRATEGIES ADOPTED BY KEY PLAYERS
    • TABLE 218 STRATEGIES ADOPTED BY KEY PLAYERS IN ELECTRIC COMMERCIAL VEHICLE MARKET
  • 16.4 REVENUE ANALYSIS, 2022
    • FIGURE 68 REVENUE ANALYSIS, 2022
  • 16.5 COMPETITIVE SCENARIO
    • 16.5.1 PRODUCT DEVELOPMENTS
    • TABLE 219 PRODUCT DEVELOPMENTS, 2020-2023
    • 16.5.2 DEALS
    • TABLE 220 DEALS, 2020-2023
    • 16.5.3 OTHERS
    • TABLE 221 OTHERS, 2020-2023
  • 16.6 COMPANY EVALUATION MATRIX
    • 16.6.1 STARS
    • 16.6.2 EMERGING LEADERS
    • 16.6.3 PERVASIVE PLAYERS
    • 16.6.4 PARTICIPANTS
    • FIGURE 69 KEY COMPANY EVALUATION MATRIX, 2023
    • TABLE 222 COMPANY FOOTPRINT, 2023
    • TABLE 223 PRODUCT FOOTPRINT, 2023
    • TABLE 224 REGION FOOTPRINT, 2023
  • 16.7 START-UP/SME EVALUATION MATRIX
    • 16.7.1 PROGRESSIVE COMPANIES
    • 16.7.2 RESPONSIVE COMPANIES
    • 16.7.3 DYNAMIC COMPANIES
    • 16.7.4 STARTING BLOCKS
    • FIGURE 70 START-UP/SME EVALUATION MATRIX, 2023
    • TABLE 225 KEY START-UPS/SMES
    • TABLE 226 COMPETITIVE BENCHMARKING OF KEY START-UPS/SMES

17 COMPANY PROFILES

  • (Business overview, Products offered, Recent developments & MnM View)**
  • 17.1 KEY PLAYERS
    • 17.1.1 MERCEDES-BENZ GROUP AG
    • TABLE 227 MERCEDES-BENZ GROUP AG: BUSINESS OVERVIEW
    • FIGURE 71 MERCEDES-BENZ GROUP AG: COMPANY SNAPSHOT
    • FIGURE 72 NEW MERCEDES-BENZ GROUP AG
    • TABLE 228 MERCEDES-BENZ GROUP AG: PRODUCTS OFFERED
    • TABLE 229 MERCEDES-BENZ GROUP AG: PRODUCT DEVELOPMENTS
    • TABLE 230 MERCEDES-BENZ GROUP AG: DEALS
    • TABLE 231 MERCEDES-BENZ GROUP AG: OTHERS
    • 17.1.2 BYD
    • TABLE 232 BYD: BUSINESS OVERVIEW
    • FIGURE 73 BYD: COMPANY SNAPSHOT
    • TABLE 233 BYD: PRODUCTS OFFERED
    • TABLE 234 BYD: PRODUCT DEVELOPMENTS
    • TABLE 235 BYD: DEALS
    • TABLE 236 BYD: OTHERS
    • 17.1.3 AB VOLVO
    • TABLE 237 AB VOLVO: BUSINESS OVERVIEW
    • FIGURE 74 AB VOLVO: COMPANY SNAPSHOT
    • FIGURE 75 AB VOLVO: SALES, BY REVENUE (2022)
    • FIGURE 76 AB VOLVO: HEAVY-DUTY TRUCKS MARKET SHARE (2022)
    • TABLE 238 AB VOLVO: PRODUCTS OFFERED
    • TABLE 239 AB VOLVO: PRODUCT DEVELOPMENTS
    • TABLE 240 AB VOLVO: DEALS
    • TABLE 241 AB VOLVO: OTHERS
    • 17.1.4 TESLA, INC
    • TABLE 242 TESLA, INC: BUSINESS OVERVIEW
    • FIGURE 77 TESLA, INC: COMPANY SNAPSHOT
    • FIGURE 78 TESLA, INC: ROADMAP
    • TABLE 243 TESLA, INC: PRODUCTS OFFERED
    • TABLE 244 TESLA, INC: PRODUCT DEVELOPMENTS
    • TABLE 245 TESLA, INC: DEALS
    • TABLE 246 TESLA, INC: OTHERS
    • 17.1.5 PACCAR INC
    • TABLE 247 PACCAR INC: BUSINESS OVERVIEW
    • FIGURE 79 PACCAR INC: COMPANY SNAPSHOT
    • FIGURE 80 PACCAR INC: ELECTRIC TRUCKS
    • TABLE 248 PACCAR INC: PRODUCTS OFFERED
    • TABLE 249 PACCAR INC: PRODUCT DEVELOPMENTS
    • TABLE 250 PACCAR INC: DEALS
    • TABLE 251 PACCAR INC: OTHERS
    • 17.1.6 RENAULT
    • TABLE 252 RENAULT: BUSINESS OVERVIEW
    • FIGURE 81 RENAULT: COMPANY SNAPSHOT
    • TABLE 253 RENAULT: PRODUCTS OFFERED
    • TABLE 254 RENAULT: PRODUCT DEVELOPMENTS
    • TABLE 255 RENAULT: DEALS
    • TABLE 256 RENAULT: OTHERS
    • 17.1.7 SCANIA AB
    • TABLE 257 SCANIA AB: BUSINESS OVERVIEW
    • FIGURE 82 SCANIA AB: COMPANY SNAPSHOT
    • TABLE 258 SCANIA AB: PRODUCTS OFFERED
    • TABLE 259 SCANIA AB: PRODUCT DEVELOPMENTS
    • TABLE 260 SCANIA AB: DEALS
    • TABLE 261 SCANIA AB: OTHERS
    • 17.1.8 FORD MOTOR COMPANY
    • TABLE 262 FORD MOTOR COMPANY: BUSINESS OVERVIEW
    • FIGURE 83 FORD MOTOR COMPANY: COMPANY SNAPSHOT
    • FIGURE 84 FORD MOTOR COMPANY: ROAD TO CARBON NEUTRALITY
    • TABLE 263 FORD MOTOR COMPANY: PRODUCTS OFFERED
    • TABLE 264 FORD MOTOR COMPANY: PRODUCT DEVELOPMENTS
    • TABLE 265 FORD MOTOR COMPANY: DEALS
    • TABLE 266 FORD MOTOR COMPANY: OTHERS
    • 17.1.9 YUTONG
    • TABLE 267 YUTONG: BUSINESS OVERVIEW
    • FIGURE 85 YUTONG: COMPANY SNAPSHOT
    • TABLE 268 YUTONG: PRODUCTS OFFERED
    • TABLE 269 YUTONG: PRODUCT DEVELOPMENTS
    • TABLE 270 YUTONG: DEALS
    • 17.1.10 DONGFENG MOTOR CORPORATION
    • TABLE 271 DONGFENG MOTOR CORPORATION: BUSINESS OVERVIEW
    • FIGURE 86 DONGFENG MOTOR CORPORATION: COMPANY SNAPSHOT
    • TABLE 272 DONGFENG MOTOR CORPORATION: PRODUCTS OFFERED
    • TABLE 273 DONGFENG MOTOR CORPORATION: DEALS
    • TABLE 274 DONGFENG MOTOR CORPORATION: OTHERS
    • 17.1.11 PROTERRA
    • TABLE 275 PROTERRA: BUSINESS OVERVIEW
    • FIGURE 87 PROTERRA: COMPANY SNAPSHOT
    • TABLE 276 PROTERRA: PRODUCTS OFFERED
    • TABLE 277 PROTERRA: DEALS
    • TABLE 278 PROTERRA: OTHERS
    • 17.1.12 VDL GROEP
    • TABLE 279 VDL GROEP: BUSINESS OVERVIEW
    • FIGURE 88 VDL GROEP: COMPANY SNAPSHOT
    • TABLE 280 VDL GROEP: PRODUCTS OFFERED
    • TABLE 281 VDL GROEP: DEALS
    • 17.1.13 RIVIAN
    • TABLE 282 RIVIAN: BUSINESS OVERVIEW
    • TABLE 283 RIVIAN: PRODUCTS OFFERED
    • TABLE 284 RIVIAN: PRODUCT DEVELOPMENTS
    • TABLE 285 RIVIAN: DEALS
    • TABLE 286 RIVIAN: OTHERS
  • *Details on Business overview, Products offered, Recent developments & MnM View might not be captured in case of unlisted companies.
  • 17.2 OTHER PLAYERS
    • 17.2.1 TATA MOTORS LIMITED
    • 17.2.2 WORKHORSE GROUP
    • 17.2.3 NIKOLA CORPORATION
    • 17.2.4 ASHOK LEYLAND
    • 17.2.5 ISUZU MOTORS LTD.
    • 17.2.6 IRIZAR GROUP
    • 17.2.7 IVECO
    • 17.2.8 BOLLINGER MOTORS
    • 17.2.9 XOS TRUCKS INC
    • 17.2.10 MAN SE
    • 17.2.11 GOLDEN DRAGON
    • 17.2.12 ZENITH MOTORS
    • 17.2.13 ARRIVAL
    • 17.2.14 LORDSTOWN MOTORS

18 RECOMMENDATIONS BY MARKETSANDMARKETS

  • 18.1 ASIA PACIFIC TO BE KEY MARKET FOR ELECTRIC COMMERCIAL VEHICLES
  • 18.2 TECHNOLOGICAL ADVANCEMENTS TO SPUR DEVELOPMENT OF ELECTRIC COMMERCIAL VEHICLES
  • 18.3 ELECTRIC VANS TO REMAIN DOMINANT SEGMENT DURING FORECAST PERIOD
  • 18.4 CONCLUSION

19 APPENDIX

  • 19.1 KEY INDUSTRY INSIGHTS
  • 19.2 DISCUSSION GUIDE
  • 19.3 KNOWLEDGESTORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
  • 19.4 CUSTOMIZATION OPTIONS
  • 19.5 RELATED REPORTS
  • 19.6 AUTHOR DETAILS
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