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PUBLISHER: The Business Research Company | PRODUCT CODE: 1217390

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PUBLISHER: The Business Research Company | PRODUCT CODE: 1217390

Electric Commercial Vehicles Global Market Report 2023

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PAGES: 175 Pages
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“Electric Commercial 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 electric commercial 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.

Reasons to Purchase

  • 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.
  • Suitable for supporting your internal and external presentations with reliable high quality data and analysis
  • 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.
  • All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for electric commercial vehicles ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The electric commercial 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 Propulsion Type: BEV; PHEV; FCEV

2) By Vehicle Type: Electric Bus; Electric Truck; Electric Pick-up Truck; Electric Van

3) By Battery Type: Lithium-iron-phosphate (LFP); Lithium-nickel-manganese-cobalt oxide (NMC); Other Battery Types

4)By Technology: Battery Electric Commercial Vehicles; Plug-in Hybrids; Hybrids; Fuel Cell Electric Commercial Vehicles

Companies Mentioned: BYD; Proterra; AB Volvo; Daimler AG; Nissan

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 electric commercial vehicles market are: BYD, Proterra, AB Volvo, Daimler AG, Nissan, ABB, Scania AB, Tesla, Nikola Motor Company, and Tata Motors.

The global electric commercial vehicles market will grow from $88.45 billion in 2022 to $116.95 billion in 2023 at a compound annual growth rate (CAGR) of 32.2%. 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 electric commercial vehicles market is expected to grow to $357.44 billion in 2027 at a CAGR of 32.2%.

The electric commercial 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.

Electric commercial 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.

Asia Pacific was the largest region in the electric commercial vehicles market in 2022. North America was the second largest region in the electric commercial vehicles market. The regions covered in the electric commercial vehicles market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The main propulsion types in electric commercial vehicles are BEV, PHEV, and FCEV. 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 electric buses, electric trucks, electric pick-up trucks, and electric vans. The battery types involved are lithium-iron-phosphate (left), lithium-nickel-manganese-cobalt oxide (nmc), and others. The technologies involved are battery-electric commercial vehicles, plug-in hybrids, hybrids, and fuel cell electric commercial vehicles.

During the historic period, government subsidies on electric commercial vehicles contributed to the growth of the electric commercial vehicle market. For instance, according to the Government of India Budget 2022-23, the faster adoption and manufacturing of hybrid and electric vehicles (FAME) scheme will provide a subsidy of up to INR 2908 crores . Similarly, according to the Uttar Pradesh government's Manufacturing and Mobility policy 2022, all-electric vehicles will be subsidized including bikes, scooters, three-wheelers, and cars. As part of this new policy, the state government will offer subsidies of up to Rs 1 lakh for electric cars for three years . The subsidies were given to three and four-wheeled electric vehicles for commercial and fleet applications. The market is being driven by the government's support for the use of commercial electric vehicles.

The growth of the electric commercial vehicle market is restrained by limited battery power and longer charging duration. For electric commercial vehicles, the range and performance of the battery are typically less powerful and have a limited range (60-100 miles per charge), and are considered suitable only for short-distance travel. The limited travel range of electric vehicle batteries raises consumer concerns that their vehicles will run out of charge/power before arriving at their destination. Charge duration is another major challenge for the market. The lack of availability of supercharging stations adds to the woes associated with the use of batteries in electric vehicles. For example, according to the Alternative Fuels Data Center, in the USA in 2020, there will be around 76,000 public charging stations, compared to 168,000 stations that serve gas. When surveying USA customers about purchasing electric vehicles, more than half of the respondents indicated that they wouldn't buy an EV due to a lack of charging stations. Therefore, these factors are major restraints for the electric commercial vehicle market during the period.

Electric commercial vehicle companies are implementing strategic partnerships for the production of electric commercial vehicles. Strategic partnerships in electric commercial vehicles involve the sharing of resources and expertise that enhance the product and multiply the results. It attracts popularity from consumers and other stakeholders, helping to increase the investment while reducing costs. For instance, in 2020, in South Korea, Hyundai Motor Company and Kia Motors Corporation strategically partnered and are investing €100 million (about $110 million) in a UK-based electric vehicle startup company, ""Arrival,"" for developing electric commercial vehicles such as eco-friendly vans and commercial vehicles for logistics.

In August 2021, Ideanomics, a US-based company focused on driving the adoption of commercial electric vehicles and associated energy consumption, acquired VIA Motors International for an undisclosed amount. Through this acquisition, Ideanomics will leverage highly complementary products to increase Ideanomics market reach and foster prospects for joint development and marketing. VIA Motors International is a US-based manufacture commercial electric vehicles.

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

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 electric commercial vehicles market research report is one of a series of new reports from The Business Research Company that provides electric commercial vehicle market statistics, including electric commercial vehicle industry global market size, regional shares, competitors with an electric commercial vehicle market share, detailed electric commercial vehicle market segments, market trends and opportunities, and any further data you may need to thrive in the electric commercial vehicle industry. This electric commercial 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: r2498

Table of Contents

1. Executive Summary

2. Electric Commercial Vehicles Market Characteristics

3. Electric Commercial Vehicles Market Trends And Strategies

4. Electric Commercial Vehicles Market - Macro Economic Scenario

4.1 COVID-19 Impact On Electric Commercial Vehicles Market

4.2 Ukraine-Russia War Impact On Electric Commercial Vehicles Market

4.3 Impact Of High Inflation On Electric Commercial Vehicles Market

5. Electric Commercial Vehicles Market Size And Growth

  • 5.1. Global Electric Commercial Vehicles Historic Market, 2017-2022, $ Billion
    • 5.1.1. Drivers Of The Market
    • 5.1.2. Restraints On The Market
  • 5.2. Global Electric Commercial Vehicles Forecast Market, 2022-2027F, 2032F, $ Billion
    • 5.2.1. Drivers Of The Market
    • 5.2.2. Restraints On the Market

6. Electric Commercial Vehicles Market Segmentation

  • 6.1. Global Electric Commercial Vehicles Market, Segmentation By Propulsion Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • BEV
  • PHEV
  • FCEV
  • 6.2. Global Electric Commercial Vehicles Market, Segmentation By Vehicle Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Electric Bus
  • Electric Truck
  • Electric Pick-up Truck
  • Electric Van
  • 6.3. Global Electric Commercial Vehicles Market, Segmentation By Battery Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Lithium-iron-phosphate (LFP)
  • Lithium-nickel-manganese-cobalt oxide (NMC)
  • Other Battery Types
  • 6.4. Global Electric Commercial Vehicles Market, Segmentation By Technology, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Battery Electric Commercial Vehicles
  • Plug-in Hybrids
  • Hybrids
  • Fuel Cell Electric Commercial Vehicles

7. Electric Commercial Vehicles Market Regional And Country Analysis

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

8. Asia-Pacific Electric Commercial Vehicles Market

  • 8.1. Asia-Pacific Electric Commercial Vehicles Market Overview
  • Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
  • 8.2. Asia-Pacific Electric Commercial Vehicles Market, Segmentation By Propulsion Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • 8.3. Asia-Pacific Electric Commercial Vehicles Market, Segmentation By Vehicle Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

9. China Electric Commercial Vehicles Market

  • 9.1. China Electric Commercial Vehicles Market Overview
  • 9.2. China Electric Commercial Vehicles Market, Segmentation By Propulsion Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion
  • 9.3. China Electric Commercial Vehicles Market, Segmentation By Vehicle Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion

10. India Electric Commercial Vehicles Market

  • 10.1. India Electric Commercial Vehicles Market, Segmentation By Propulsion Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • 10.2. India Electric Commercial Vehicles Market, Segmentation By Vehicle Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

11. Japan Electric Commercial Vehicles Market

  • 11.1. Japan Electric Commercial Vehicles Market, Segmentation By Propulsion Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • 11.2. Japan Electric Commercial Vehicles Market, Segmentation By Vehicle Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

12. Australia Electric Commercial Vehicles Market

  • 12.1. Australia Electric Commercial Vehicles Market, Segmentation By Propulsion Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • 12.2. Australia Electric Commercial Vehicles Market, Segmentation By Vehicle Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

13. Indonesia Electric Commercial Vehicles Market

  • 13.1. Indonesia Electric Commercial Vehicles Market, Segmentation By Propulsion Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • 13.2. Indonesia Electric Commercial Vehicles Market, Segmentation By Vehicle Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

14. South Korea Electric Commercial Vehicles Market

  • 14.1. South Korea Electric Commercial Vehicles Market, Segmentation By Propulsion Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • 14.2. South Korea Electric Commercial Vehicles Market, Segmentation By Vehicle Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

15. Western Europe Electric Commercial Vehicles Market

  • 15.1. Western Europe Electric Commercial Vehicles Market Overview
  • 15.2. Western Europe Electric Commercial Vehicles Market, Segmentation By Propulsion Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • 15.3. Western Europe Electric Commercial Vehicles Market, Segmentation By Vehicle Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

16. UK Electric Commercial Vehicles Market

  • 16.1. UK Electric Commercial Vehicles Market, Segmentation By Propulsion Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • 16.2. UK Electric Commercial Vehicles Market, Segmentation By Vehicle Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

17. Germany Electric Commercial Vehicles Market

  • 17.1. Germany Electric Commercial Vehicles Market, Segmentation By Propulsion Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • 17.2. Germany Electric Commercial Vehicles Market, Segmentation By Vehicle Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

18. France Electric Commercial Vehicles Market

  • 18.1. France Electric Commercial Vehicles Market, Segmentation By Propulsion Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • 18.2. France Electric Commercial Vehicles Market, Segmentation By Vehicle Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

19. Eastern Europe Electric Commercial Vehicles Market

  • 19.1. Eastern Europe Electric Commercial Vehicles Market Overview
  • 19.2. Eastern Europe Electric Commercial Vehicles Market, Segmentation By Propulsion Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • 19.3. Eastern Europe Electric Commercial Vehicles Market, Segmentation By Vehicle Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

20. Russia Electric Commercial Vehicles Market

  • 20.1. Russia Electric Commercial Vehicles Market, Segmentation By Propulsion Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • 20.2. Russia Electric Commercial Vehicles Market, Segmentation By Vehicle Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

21. North America Electric Commercial Vehicles Market

  • 21.1. North America Electric Commercial Vehicles Market Overview
  • 21.2. North America Electric Commercial Vehicles Market, Segmentation By Propulsion Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • 21.3. North America Electric Commercial Vehicles Market, Segmentation By Vehicle Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

22. USA Electric Commercial Vehicles Market

  • 22.1. USA Electric Commercial Vehicles Market Overview
  • 22.2. USA Electric Commercial Vehicles Market, Segmentation By Propulsion Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • 22.3. USA Electric Commercial Vehicles Market, Segmentation By Vehicle Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

23. South America Electric Commercial Vehicles Market

  • 23.1. South America Electric Commercial Vehicles Market Overview
  • 23.2. South America Electric Commercial Vehicles Market, Segmentation By Propulsion Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • 23.3. South America Electric Commercial Vehicles Market, Segmentation By Vehicle Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

24. Brazil Electric Commercial Vehicles Market

  • 24.1. Brazil Electric Commercial Vehicles Market, Segmentation By Propulsion Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • 24.2. Brazil Electric Commercial Vehicles Market, Segmentation By Vehicle Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

25. Middle East Electric Commercial Vehicles Market

  • 25.1. Middle East Electric Commercial Vehicles Market Overview
  • 25.2. Middle East Electric Commercial Vehicles Market, Segmentation By Propulsion Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • 25.3. Middle East Electric Commercial Vehicles Market, Segmentation By Vehicle Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

26. Africa Electric Commercial Vehicles Market

  • 26.1. Africa Electric Commercial Vehicles Market Overview
  • 26.2. Africa Electric Commercial Vehicles Market, Segmentation By Propulsion Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • 26.3. Africa Electric Commercial Vehicles Market, Segmentation By Vehicle Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

27. Electric Commercial Vehicles Market Competitive Landscape And Company Profiles

  • 27.1. Electric Commercial Vehicles Market Competitive Landscape
  • 27.2. Electric Commercial Vehicles Market Company Profiles
    • 27.2.1. BYD
      • 27.2.1.1. Overview
      • 27.2.1.2. Products and Services
      • 27.2.1.3. Strategy
      • 27.2.1.4. Financial Performance
    • 27.2.2. Proterra
      • 27.2.2.1. Overview
      • 27.2.2.2. Products and Services
      • 27.2.2.3. Strategy
      • 27.2.2.4. Financial Performance
    • 27.2.3. AB Volvo
      • 27.2.3.1. Overview
      • 27.2.3.2. Products and Services
      • 27.2.3.3. Strategy
      • 27.2.3.4. Financial Performance
    • 27.2.4. Daimler AG
      • 27.2.4.1. Overview
      • 27.2.4.2. Products and Services
      • 27.2.4.3. Strategy
      • 27.2.4.4. Financial Performance
    • 27.2.5. Nissan
      • 27.2.5.1. Overview
      • 27.2.5.2. Products and Services
      • 27.2.5.3. Strategy
      • 27.2.5.4. Financial Performance

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

29. Electric Commercial 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
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