Commercial Electric Vehicles Global Market Report 2023

Description

“Commercial Electric Vehicles Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on commercial electric 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.

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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.
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Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
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Where is the largest and fastest growing market for commercial electric vehicles ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The commercial electric vehicles market global report ” from The Business Research Company 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.

Scope

Markets Covered:

1) By Technology: Battery Electric Vehicles; Hybrid Electric Vehicles; Plug-in Hybrid Electric Vehicles

2) By Vehicle: Bus; Truck; Pick-Up Truck; Van

3) By Charging Infrastructure: Pantograph; Plug-in; Inductive

Companies Mentioned: Tesla; Nissan; BMW; Chevrolet; Ford

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

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 segmentations: 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.

Executive Summary

Major players in the commercial electric vehicle market are: Tesla, Nissan, BMW, Chevrolet, Ford, Volkswagen, Kia Motors, Audi, BYD, and Daimler.

The global commercial electric vehicle market is expected to grow from $68.43 billion in 2021 to $101.44 billion in 2022 at a compound annual growth rate (CAGR) of 48.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The commercial electric vehicle market is expected to grow to $303.15 billion in 2026 at a CAGR of 31.5%.

The commercial electric 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.

Commercial electric vehicles are electrically powered, self-propelled electric vehicles used for transportation that help reduce greenhouse gas emissions (GHG) and pollution and work with the help of both electric motors working in tandem.

The main technologies in commercial electric vehicles are battery electric vehicles, hybrid electric vehicles, and plug-in hybrid electric vehicles. Battery electric vehicles operate only on stored electricity, and their main components consist of a high-voltage battery, one or more electric motors (either alternating current [AC] or direct current [DC]), and a controller for managing the power electronics. The vehicle types involved are buses, trucks, pick-up trucks, and vans. The charging infrastructure involved is pantograph, plug-in, and inductive.

Government subsidies to consumers and manufacturers help with the adoption of electric vehicles. The adoption of electric vehicles has been identified as an effective method to reduce carbon emissions and dependency on fossil fuels. So, the governments of many countries are providing direct subsidies to both buyers and manufacturers to increase the adoption rate of electric vehicles. For example, in order to make electric vehicles (EVs) accessible to all Americans for both short- and long-distance travel, the federal government has set the 2030 target of having half of all new vehicles sold in the country be zero-emissions vehicles. It has also committed to developing a practical and equitable network of 500,000 chargers.

The difference in vehicle performance acts as a restraint on the growth of the commercial electric vehicle market. Electric vehicles provide excellent torque at low speeds, but at higher speeds, the performance drops. The range of current battery electric vehicles (BEVs) is typically 50 to 100 miles. For example, the Nissan LEAF electric vehicle has high torque (236 lb-ft) but relatively low power at 147 hp. The conventional fuel car Honda S2000, on the other hand, has a respectable 256 hp.

Technological advances to improve charging speed and enhance battery design are the latest trend in the commercial electric vehicle market. Manufacturers are looking at solid-state batteries that use graphene as the potential solution and are expected to increase both the range and the charging speed of the batteries in electric vehicles. Apart from the improvements in battery design and charging speed, there will be a significant shift toward diversifying the sources of power for EVs. Solar panels have already become much more efficient at capturing the sun's energy. With the recent development of three-phase charging, the most modern electric vehicles can charge up to 80% in just 30 minutes. For instance, Earthday, a Catalan startup, introduced fast-charging graphene-based batteries that weigh only 55 kg and use a paste-like electrolyte based on graphene. Earthday claims that the graphene-based battery charges up to 1350 times faster than normal batteries based on lithium technology.

In Europe, the parliament mandates the installation of appropriate vehicle alerting systems in electric vehicles. Electric cars and plug-in hybrid cars such as the all-electric BMWi3 or the Toyota Prius currently emit very little sound when running on electric power only. Campaigners say this is dangerous for partially sighted and blind people. Keeping this in mind, liberal democratic MEPs introduced an amendment that makes it mandatory to install a vehicle alerting system in electric vehicles.

In June 2021, Ashok Leyland, a company manufacturing automotives based in India, acquired Switch Mobility Automotive for an undisclosed amount. Ashok Leyland expands its commercial electric vehicle portfolio and makes an investment in Switch Mobility, acquiring all of the company's shares. Switch Mobility Automotive is a company operating commercial electric vehicles based in the UK.

The regions covered in the commercial electric vehicles market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The countries covered in the commercial electric vehicles market report are: Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA and Australia.

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

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

The commercial electric vehicles market research report is one of a series of new reports from The Business Research Company that provides commercial electric vehicle market statistics, including commercial electric vehicle industry global market size, regional shares, competitors with a commercial electric vehicle market share, detailed commercial electric vehicle market segments, market trends and opportunities, and any further data you may need to thrive in the commercial electric vehicle industry. This commercial electric vehicle 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.

Product Code: r2001

1. Executive Summary

2. Commercial Electric Vehicles Market Characteristics

3. Commercial Electric Vehicles Market - Macro Economic Scenario

3.1 COVID-19 Impact On Commercial Electric Vehicles Market

3.2 Ukraine-Russia War Impact On Commercial Electric Vehicles Market

3.3 Impact Of High Inflation On Commercial Electric Vehicles Market

4. Commercial Electric Vehicles Market Size And Growth

4.1. Global Commercial Electric Vehicles Historic Market, 2017-2022, $ Billion
- 4.1.1. Drivers Of The Market
- 4.1.2. Restraints On The Market
4.2. Global Commercial Electric Vehicles Forecast Market, 2022-2027F, 2032F, $ Billion
- 4.2.1. Drivers Of The Market
- 4.2.2. Restraints On the Market

5. Commercial Electric Vehicles Market Segmentation

5.1. Global Commercial Electric Vehicles Market, Segmentation By Technology, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
Battery Electric Vehicles
Hybrid Electric Vehicles
Plug-in Hybrid Electric Vehicles
5.2. Global Commercial Electric Vehicles Market, Segmentation By Vehicle, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
Bus
Truck
Pick-Up Truck
Van
5.3. Global Commercial Electric Vehicles Market, Segmentation By Charging Infrastructure, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
Pantograph
Plug-in
Inductive

6. Commercial Electric Vehicles Market Regional And Country Analysis

6.1. Global Commercial Electric Vehicles Market, Split By Region, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
6.2. Global Commercial Electric Vehicles Market, Split By Country, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

7. Asia-Pacific Commercial Electric Vehicles Market

7.1. Asia-Pacific Commercial Electric Vehicles Market Overview
7.2. Asia-Pacific Commercial Electric Vehicles Market, Segmentation By Technology, Historic and Forecast, 2017-2022 2027F, 2032F, $ Billion
7.3. Asia-Pacific Commercial Electric Vehicles Market, Segmentation By Vehicle, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
7.4. Asia-Pacific Commercial Electric Vehicles Market, Segmentation By Charging Infrastructure, Historic and Forecast, 2017-2022 2027F, 2032F, $ Billion

8. China Commercial Electric Vehicles Market

8.1. China Commercial Electric Vehicles Market Overview
8.2. China Commercial Electric Vehicles Market, Segmentation By Technology, Historic and Forecast, 2017-2022 2027F, 2032F,$ Billion
8.3. China Commercial Electric Vehicles Market, Segmentation By Vehicle, Historic and Forecast, 2017-2022 2027F, 2032F,$ Billion
8.4. China Commercial Electric Vehicles Market, Segmentation By Charging Infrastructure, Historic and Forecast, 2017-2022 2027F, 2032F,$ Billion

9. India Commercial Electric Vehicles Market

9.1. India Commercial Electric Vehicles Market Overview
9.2. India Commercial Electric Vehicles Market, Segmentation By Technology, Historic and Forecast, 2017-2022 2027F, 2032F, $ Billion
9.3. India Commercial Electric Vehicles Market, Segmentation By Vehicle, Historic and Forecast, 2017-2022 2027F, 2032F, $ Billion
9.4. India Commercial Electric Vehicles Market, Segmentation By Charging Infrastructure, Historic and Forecast, 2017-2022 2027F, 2032F, $ Billion

10. Japan Commercial Electric Vehicles Market

10.1. Japan Commercial Electric Vehicles Market Overview
10.2. Japan Commercial Electric Vehicles Market, Segmentation By Technology, Historic and Forecast, 2017-2022 2027F, 2032F, $ Billion
10.3. Japan Commercial Electric Vehicles Market, Segmentation By Vehicle, Historic and Forecast, 2017-2022 2027F, 2032F, $ Billion
10.4. Japan Commercial Electric Vehicles Market, Segmentation By Charging Infrastructure, Historic and Forecast, 2017-2022 2027F, 2032F, $ Billion

11. Australia Commercial Electric Vehicles Market

11.1. Australia Commercial Electric Vehicles Market, Segmentation By Technology, Historic and Forecast, 2017-2022 2027F, 2032F, $ Billion
11.2. Australia Commercial Electric Vehicles Market, Segmentation By Vehicle, Historic and Forecast, 2017-2022 2027F, 2032F, $ Billion
11.3. Australia Commercial Electric Vehicles Market, Segmentation By Charging Infrastructure, Historic and Forecast, 2017-2022 2027F, 2032F, $ Billion

12. Indonesia Commercial Electric Vehicles Market

12.1. Indonesia Commercial Electric Vehicles Market, Segmentation By Technology, Historic and Forecast, 2017-2022 2027F, 2032F, $ Billion
12.2. Indonesia Commercial Electric Vehicles Market, Segmentation By Vehicle, Historic and Forecast, 2017-2022 2027F, 2032F, $ Billion
12.3. Indonesia Commercial Electric Vehicles Market, Segmentation By Charging Infrastructure, Historic and Forecast, 2017-2022 2027F, 2032F, $ Billion

13. South Korea Commercial Electric Vehicles Market

13.1. South Korea Commercial Electric Vehicles Market, Segmentation By Technology, Historic and Forecast, 2017-2022 2027F, 2032F, $ Billion
13.2. South Korea Commercial Electric Vehicles Market, Segmentation By Vehicle, Historic and Forecast, 2017-2022 2027F, 2032F, $ Billion
13.3. South Korea Commercial Electric Vehicles Market, Segmentation By Charging Infrastructure, Historic and Forecast, 2017-2022 2027F, 2032F, $ Billion

14. Western Europe Commercial Electric Vehicles Market

14.1. Western Europe Commercial Electric Vehicles Market Overview
14.2. Western Europe Commercial Electric Vehicles Market, Segmentation By Technology, Historic and Forecast, 2017-2022 2027F, 2032F, $ Billion
14.3. Western Europe Commercial Electric Vehicles Market, Segmentation By Vehicle, Historic and Forecast, 2017-2022 2027F, 2032F, $ Billion
14.4. Western Europe Commercial Electric Vehicles Market, Segmentation By Charging Infrastructure, Historic and Forecast, 2017-2022 2027F, 2032F, $ Billion

15. UK Commercial Electric Vehicles Market

15.1. UK Commercial Electric Vehicles Market Overview
15.2. UK Commercial Electric Vehicles Market, Segmentation By Technology, Historic and Forecast, 2017-2022 2027F, 2032F, $ Billion
15.3. UK Commercial Electric Vehicles Market, Segmentation By Vehicle, Historic and Forecast, 2017-2022 2027F, 2032F, $ Billion
15.4. UK Commercial Electric Vehicles Market, Segmentation By Charging Infrastructure, Historic and Forecast, 2017-2022 2027F, 2032F, $ Billion

16. Germany Commercial Electric Vehicles Market

16.1. Germany Commercial Electric Vehicles Market, Segmentation By Technology, Historic and Forecast, 2017-2022 2027F, 2032F, $ Billion
16.2. Germany Commercial Electric Vehicles Market, Segmentation By Vehicle, Historic and Forecast, 2017-2022 2027F, 2032F, $ Billion
16.3. Germany Commercial Electric Vehicles Market, Segmentation By Charging Infrastructure, Historic and Forecast, 2017-2022 2027F, 2032F, $ Billion

17. France Commercial Electric Vehicles Market

17.5. France Commercial Electric Vehicles Market, Segmentation By Technology, Historic and Forecast, 2017-2022 2027F, 2032F, $ Billion
17.6. France Commercial Electric Vehicles Market, Segmentation By Vehicle, Historic and Forecast, 2017-2022 2027F, 2032F, $ Billion
17.7. France Commercial Electric Vehicles Market, Segmentation By Charging Infrastructure, Historic and Forecast, 2017-2022 2027F, 2032F, $ Billion

18. Eastern Europe Commercial Electric Vehicles Market

18.1. Eastern Europe Commercial Electric Vehicles Market Overview
18.2. Eastern Europe Commercial Electric Vehicles Market, Segmentation By Technology, Historic and Forecast, 2017-2022 2027F, 2032F, $ Billion
18.3. Eastern Europe Commercial Electric Vehicles Market, Segmentation By Vehicle, Historic and Forecast, 2017-2022 2027F, 2032F, $ Billion
18.4. Eastern Europe Commercial Electric Vehicles Market, Segmentation By Charging Infrastructure, Historic and Forecast, 2017-2022 2027F, 2032F, $ Billion

19. Russia Commercial Electric Vehicles Market

19.1. Russia Commercial Electric Vehicles Market, Segmentation By Technology, Historic and Forecast, 2017-2022 2027F, 2032F, $ Billion
19.2. Russia Commercial Electric Vehicles Market, Segmentation By Vehicle, Historic and Forecast, 2017-2022 2027F, 2032F, $ Billion
19.3. Russia Commercial Electric Vehicles Market, Segmentation By Charging Infrastructure, Historic and Forecast, 2017-2022 2027F, 2032F, $ Billion

20. North America Commercial Electric Vehicles Market

20.1. North America Commercial Electric Vehicles Market Overview
20.2. North America Commercial Electric Vehicles Market, Segmentation By Technology, Historic and Forecast, 2017-2022 2027F, 2032F, $ Billion
20.3. North America Commercial Electric Vehicles Market, Segmentation By Vehicle, Historic and Forecast, 2017-2022 2027F, 2032F, $ Billion
20.4. North America Commercial Electric Vehicles Market, Segmentation By Charging Infrastructure, Historic and Forecast, 2017-2022 2027F, 2032F, $ Billion

21. USA Commercial Electric Vehicles Market

21.1. USA Commercial Electric Vehicles Market Overview
21.2. USA Commercial Electric Vehicles Market, Segmentation By Technology, Historic and Forecast, 2017-2022 2027F, 2032F, $ Billion
21.3. USA Commercial Electric Vehicles Market, Segmentation By Vehicle, Historic and Forecast, 2017-2022 2027F, 2032F, $ Billion
21.4. USA Commercial Electric Vehicles Market, Segmentation By Charging Infrastructure, Historic and Forecast, 2017-2022 2027F, 2032F, $ Billion

22. South America Commercial Electric Vehicles Market

22.1. South America Commercial Electric Vehicles Market Overview
22.2. South America Commercial Electric Vehicles Market, Segmentation By Technology, Historic and Forecast, 2017-2022 2027F, 2032F, $ Billion
22.3. South America Commercial Electric Vehicles Market, Segmentation By Vehicle, Historic and Forecast, 2017-2022 2027F, 2032F, $ Billion
22.4. South America Commercial Electric Vehicles Market, Segmentation By Charging Infrastructure, Historic and Forecast, 2017-2022 2027F, 2032F, $ Billion

23. Brazil Commercial Electric Vehicles Market

23.1. Brazil Commercial Electric Vehicles Market, Segmentation By Technology, Historic and Forecast, 2017-2022 2027F, 2032F, $ Billion
23.2. Brazil Commercial Electric Vehicles Market, Segmentation By Vehicle, Historic and Forecast, 2017-2022 2027F, 2032F, $ Billion
23.3. Brazil Commercial Electric Vehicles Market, Segmentation By Charging Infrastructure, Historic and Forecast, 2017-2022 2027F, 2032F, $ Billion

24. Middle East Commercial Electric Vehicles Market

24.1. Middle East Commercial Electric Vehicles Market Overview
24.2. Middle East Commercial Electric Vehicles Market, Segmentation By Technology, Historic and Forecast, 2017-2022 2027F, 2032F, $ Billion
24.3. Middle East Commercial Electric Vehicles Market, Segmentation By Vehicle, Historic and Forecast, 2017-2022 2027F, 2032F, $ Billion
24.4. Middle East Commercial Electric Vehicles Market, Segmentation By Charging Infrastructure, Historic and Forecast, 2017-2022 2027F, 2032F, $ Billion

25. Africa Commercial Electric Vehicles Market

25.1. Africa Commercial Electric Vehicles Market Overview
25.2. Africa Commercial Electric Vehicles Market, Segmentation By Technology, Historic and Forecast, 2017-2022 2027F, 2032F, $ Billion
25.3. Africa Commercial Electric Vehicles Market, Segmentation By Vehicle, Historic and Forecast, 2017-2022 2027F, 2032F, $ Billion
25.4. Africa Commercial Electric Vehicles Market, Segmentation By Charging Infrastructure, Historic and Forecast, 2017-2022 2027F, 2032F, $ Billion

26. Commercial Electric Vehicles Market Competitive Landscape And Company Profiles

26.1. Commercial Electric Vehicles Market Competitive Landscape
26.2. Commercial Electric Vehicles Market Company Profiles
- 26.2.1. Tesla
  - 26.2.1.1. Overview
  - 26.2.1.2. Products and Services
  - 26.2.1.3. Strategy
  - 26.2.1.4. Financial Performance
- 26.2.2. Nissan
  - 26.2.2.1. Overview
  - 26.2.2.2. Products and Services
  - 26.2.2.3. Strategy
  - 26.2.2.4. Financial Performance
- 26.2.3. BMW
  - 26.2.3.1. Overview
  - 26.2.3.2. Products and Services
  - 26.2.3.3. Strategy
  - 26.2.3.4. Financial Performance
- 26.2.4. Chevrolet
  - 26.2.4.1. Overview
  - 26.2.4.2. Products and Services
  - 26.2.4.3. Strategy
  - 26.2.4.4. Financial Performance
- 26.2.5. Ford
  - 26.2.5.1. Overview
  - 26.2.5.2. Products and Services
  - 26.2.5.3. Strategy
  - 26.2.5.4. Financial Performance

27. Key Mergers And Acquisitions In The Commercial Electric Vehicles Market

28. Commercial Electric Vehicles Market Trends And Strategies

29. Commercial Electric Vehicles Market Future Outlook and Potential Analysis

30. Appendix

30.1. Abbreviations
30.2. Currencies
30.3. Historic And Forecast Inflation Rates
30.4. Research Inquiries
30.5. The Business Research Company
30.6. Copyright And Disclaimer