According to the latest report by IMARC Group, titled “Electric Commercial Vehicle Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” the global electric commercial vehicle market is growing at a double digit CAGR by 2025. Electric commercial vehicles refer to self-propelling automobiles that are designed to operate on battery-based electric engines. These vehicles include numerous low- to heavy-duty automobiles, such as buses, vans, trucks, tractors, harvesters and loaders. Widely used for transporting goods as well as passengers, these vehicles are characterized by several operational benefits and low maintenance costs. Consequently, they find numerous applications across the agriculture, mining, logistics and construction sectors.
The electric commercial vehicle market is primarily driven by the increasing demand for eco-friendly commercial vehicles across numerous industries. These electric commercial vehicles are mostly powered by unconventional power sources, such as rechargeable batteries or solar panels, thereby providing a boost to their sales across the globe. This is further supported by the implementation of several favorable governmental regulations that promote the use of electric vehicles. Various governments are now offering tax rebates and subsidies for purchasing these vehicles, which is acting as another major growth-inducing factor. Some of the other factors contributing to the market growth include the increasing focus on electrification of public transport fleets and rising investments for the upgradation of electric vehicle (EV) charging infrastructures.
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Electric Commercial Vehicle Market Competitive Analysis and Segmentation:
The competitive landscape of the electric commercial vehicle market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Anhui Ankai Automobile Co. Ltd.
- Zhongtong Bus Holding Co. Ltd.
- BYD Company Ltd.
- NFI Group Inc.
- AB Volvo
- Construcciones y Auxiliar de Ferrocarriles S.A.
- VDL Groep B.V.
- Daimler AG
- King Long United Automotive Industry Co. Ltd.
The report has segmented the global electric commercial vehicle market on the basis of vehicle type, propulsion type, application, battery type, battery capacity and region.
Breakup by Vehicle Type:
- Electric Bus
- Electric Pickup Truck
- Electric Truck
- Electric Van
Breakup by Propulsion Type:
Breakup by Application:
Breakup by Battery Type:
- Lithium-Nickel-Manganese-Cobalt Oxide Batteries
- Lithium-Iron-Phosphate Batteries
Breakup by Battery Capacity:
- Less Than 50 kWh
- 50-250 kWh
- Above 250 kWh
Breakup by Region:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Explore full report with table of contents: https://www.imarcgroup.com/electric-commercial-vehicle-market
Key highlights of the report:
- Market Performance (2014-2019)
- Market Outlook (2020-2025)
- Market Drivers and Success Factors
- Market Trends
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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