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Electric Commercial Vehicle Market Analysis

ID: MRFR/AT/5456-CR
128 Pages
Sejal Akre
September 2022

Electric commercial vehicle Market Research Report Information by Propulsion (BEV, PHEV, FCEV) By Component (Electric Motor, Electric Vehicle Battery, Hydrogen Fuel Cell, Others) By Vehicle Type (Bus, Truck, Others), And By Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America) –Market Forecast Till 2035

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Market Analysis

In-depth Analysis of Electric Commercial Vehicle Market Industry Landscape

The global electric commercial vehicle market is set to reach US$ 54.29 BN by 2030, at a 29.90% CAGR between years 2023-2030. In recent years, the market has witnessed dynamic changes and tremendous growth that is primarily driven by a range of factors altering its dynamics. As one of the key trends to this movement is sustainability’s globalization and reduction in carbon emissions. Commercial electric vehicles are becoming more popular because governments and businesses alike understand the need to transition into greener sources of energy. Government policies and regulations help determine the market trends of electric commercial vehicles. A number of countries are providing incentives, subsidies and positive regulations to encourage the market for electric vehicles. Such measures usually involve tax relief, grants as well as exemptions from some regulatory standards to make businesspeople buy electric fleets. Moreover, the strict emission controls implemented by governments across the world have prompted companies to switch and utilize electric commercial vehicles in order to adhere with environmental guidelines. The development of this industry has been driven by technological developments and innovations in the battery technology field. The range anxiety, one of the biggest issues hindering EV uptake has been resolved by developing more powerful batteries with a longer distance. The manufacture of newer and better batteries should ensure that the prices continue to drop, making electric vehicles much cheaper than commercial vehicles powered by fossil fuels. As a result of heightened concerns regarding impacts being caused by regular transport fuels, there is now strong shift in customer expectations. Sustainability practices are being embraced by companies, and customers have also become environment-friendly relating to their business choices. Consumer demand for ecologically responsible solutions in transportation has forced companies to invest in electric commercial vehicles as their corporate sustainability strategy. Electric vehicles infrastructure is another major consideration that influences the market dynamics. The convenience of charging stations is an important factor in the popularization of electric commercial vehicles. To address concerns related to charging convenience and range limitations, governments are investing resources into infrastructure for powering the e-vehicles through their use in a national strategy. With the ongoing development of the charging infrastructure, it also becomes a factor in increasing confidence for businesses to invest heavily on electric commercial vehicles. This is because traditionally costs have been a key issue in the implementation of new technologies and the same applies to Electric Commercial Vehicle Market.

Author
Sejal Akre
Senior Research Analyst

She has over 5 years of rich experience, in market research and consulting providing valuable market insights to client. Hands on expertise in management consulting, and extensive knowledge in domain including ICT, Automotive & Transportation and Aerospace & Defense. She is skilled in Go-to market strategy, industry analysis, market sizing, in depth company profiling, competitive intelligence & benchmarking and value chain amongst others.

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FAQs

How much is the Electric commercial vehicle market?

The Electric commercial vehicle Market size is expected to be valued at USD 8,788.5 Million in 2022.

What is the growth rate of the Electric commercial vehicle market?

The global market is projected to grow at a CAGR of 20.87% during the forecast period, 2024-2032.

Which region held the largest market share in the Electric commercial vehicle market?

Asia pacific had the largest share of the global market.

Who are the key players in the Electric commercial vehicle market?

The key players in the market are AB VOLVO, TESLA INC, DAIMLER TRUCK AG, PACCAR INC., BYD COMPANY LIMITED, PROTERRA, EBUSCO, ANHUI ANKAI AUTOMOBILE CO., LTD, YUTONG, NFI GROUP INC., SCANIA, VDL, CAF, KING LONG, RENAULT TRUCKS and Others.

Which Propulsion led the Electric commercial vehicle market?

The BEV category dominated the market in 2022.

Market Summary

As per MRFR analysis, the Electric Commercial Vehicle Market Size was estimated at 13663.02 USD Million in 2024. The Electric Commercial Vehicle industry is projected to grow from 16514.77 USD Million in 2025 to 109933.6 USD Million by 2035, exhibiting a compound annual growth rate (CAGR) of 20.87 during the forecast period 2025 - 2035.

Key Market Trends & Highlights

The Electric Commercial Vehicle Market is poised for substantial growth driven by technological advancements and increasing demand for sustainable solutions.

  • Technological advancements in battery systems are enhancing the efficiency and range of electric commercial vehicles.
  • North America remains the largest market, while the Asia-Pacific region is emerging as the fastest-growing area for electric commercial vehicles.
  • The logistics segment dominates the market, whereas the public transport segment is experiencing rapid growth.
  • Rising demand for sustainable transportation and advancements in charging infrastructure are key drivers propelling market expansion.

Market Size & Forecast

2024 Market Size 13663.02 (USD Million)
2035 Market Size 109933.6 (USD Million)
CAGR (2025 - 2035) 20.87%
Largest Regional Market Share in 2024 North America

Major Players

<p>Tesla (US), BYD (CN), Mercedes-Benz (DE), Volvo (SE), Rivian (US), Nikola (US), MAN (DE), Scania (SE), Ford (US), Workhorse (US)</p>

Market Trends

The Electric Commercial Vehicle Market is currently experiencing a transformative phase, driven by a confluence of technological advancements, regulatory support, and shifting consumer preferences. The increasing emphasis on sustainability and reducing carbon footprints has prompted businesses to explore electric alternatives for their fleets. This transition is not merely a trend but appears to be a fundamental shift in how goods and services are delivered. As manufacturers innovate and improve battery technologies, the operational efficiency of electric commercial vehicles is likely to enhance, making them more appealing to a broader range of industries. Moreover, the Electric Commercial Vehicle Market is witnessing a surge in investment from both public and private sectors. Governments around the world are implementing policies that incentivize the adoption of electric vehicles, which may further accelerate market growth. The integration of smart technologies, such as telematics and autonomous driving features, is also anticipated to play a crucial role in shaping the future landscape of this market. As these vehicles become more integrated into logistics and transportation networks, their potential to revolutionize the industry becomes increasingly evident. The future of the Electric Commercial Vehicle Market seems promising, with numerous opportunities for innovation and expansion on the horizon.

Technological Advancements in Battery Systems

Recent innovations in battery technology are likely to enhance the performance and range of electric commercial vehicles. Improved energy density and faster charging capabilities may lead to greater adoption rates among businesses seeking efficient transportation solutions.

Government Incentives and Regulations

Supportive policies and incentives from governments worldwide appear to be fostering the growth of the Electric Commercial Vehicle Market. These measures may encourage companies to transition to electric fleets, thereby reducing emissions and promoting sustainability.

Integration of Smart Technologies

The incorporation of advanced technologies, such as telematics and autonomous driving, is expected to transform the operational landscape of electric commercial vehicles. This integration could lead to enhanced efficiency, safety, and overall performance in logistics and transportation.

Electric Commercial Vehicle Market Market Drivers

Rising Fuel Prices

Rising fuel prices are a significant driver for the Global Electric Commercial Vehicle Market Industry. As traditional fuel costs continue to escalate, businesses are increasingly looking for cost-effective alternatives. Electric commercial vehicles present a viable solution, offering lower operational costs due to reduced fuel expenses. The financial benefits of electric vehicles become more pronounced as fuel prices rise, prompting fleet operators to consider the long-term savings associated with electric vehicle adoption. This trend is likely to accelerate the market's growth, as companies seek to mitigate the impact of fluctuating fuel prices on their operational budgets.

Market Growth Projections

The Global Electric Commercial Vehicle Market Industry is poised for substantial growth, with projections indicating a market value of 13.7 USD Billion in 2024 and an anticipated increase to 109.9 USD Billion by 2035. This growth trajectory suggests a robust compound annual growth rate (CAGR) of 20.87% from 2025 to 2035. Such figures reflect the increasing adoption of electric commercial vehicles across various sectors, driven by factors such as government incentives, technological advancements, and rising environmental awareness. The market's expansion is indicative of a broader shift towards sustainable transportation solutions on a global scale.

Growing Environmental Concerns

Growing environmental concerns are driving the transition towards electric commercial vehicles within the Global Electric Commercial Vehicle Market Industry. As climate change becomes an increasingly pressing issue, businesses are seeking sustainable solutions to reduce their carbon footprints. Electric commercial vehicles offer a cleaner alternative, emitting zero tailpipe emissions. This shift is supported by public sentiment favoring eco-friendly practices, which encourages companies to invest in electric fleets. The market is expected to grow at a CAGR of 20.87% from 2025 to 2035, reflecting the urgency to adopt sustainable transportation solutions that align with global environmental goals.

Expansion of Charging Infrastructure

The expansion of charging infrastructure is crucial for the growth of the Global Electric Commercial Vehicle Market Industry. As more charging stations become available, the practicality of using electric commercial vehicles increases, alleviating range anxiety among fleet operators. Governments and private entities are investing in the development of robust charging networks, which is essential for supporting the widespread adoption of electric vehicles. This infrastructure growth is expected to facilitate a smoother transition to electric fleets, contributing to the market's projected growth to 109.9 USD Billion by 2035. A well-established charging network enhances the overall viability of electric commercial vehicles.

Government Incentives and Regulations

Government incentives and regulations play a pivotal role in shaping the Global Electric Commercial Vehicle Market Industry. Many countries are implementing stringent emission regulations, which compel businesses to transition to electric vehicles. For instance, in 2024, the market is projected to reach 13.7 USD Billion, driven by favorable policies such as tax credits and grants for electric vehicle purchases. These incentives not only reduce the initial cost of electric commercial vehicles but also encourage fleet operators to adopt greener technologies. As regulations become more stringent, the demand for electric commercial vehicles is likely to increase, further propelling market growth.

Technological Advancements in Battery Technology

Technological advancements in battery technology are significantly influencing the Global Electric Commercial Vehicle Market Industry. Innovations such as solid-state batteries and improved lithium-ion technologies are enhancing the efficiency and range of electric commercial vehicles. As battery costs decline, the total cost of ownership for electric vehicles becomes more competitive compared to traditional combustion engines. This trend is expected to contribute to the market's growth, with projections indicating a surge to 109.9 USD Billion by 2035. Enhanced battery performance not only extends vehicle range but also reduces charging times, making electric commercial vehicles more appealing to fleet operators.

Market Segment Insights

By Application: Logistics (Largest) vs. Public Transport (Fastest-Growing)

<p>In the Electric Commercial Vehicle Market, the logistics segment commands the largest share, driven predominantly by the increasing demand for efficient and sustainable transportation solutions in goods delivery. Logistics operations are continually seeking electrification to reduce operational costs and carbon emissions, giving rise to a substantial shift toward electric vehicles within this sector. On the other hand, public transport represents the fastest-growing segment as urban centers prioritize electric buses and shuttles to address environmental regulations and public health concerns. Cities worldwide are transitioning their public transit fleets to electric solutions, reflecting a notable change in infrastructure investments and governmental support.</p>

<p>Logistics (Dominant) vs. Construction (Emerging)</p>

<p>Logistics is recognized as the dominant application in the Electric Commercial Vehicle Market, characterized by a robust demand for electric delivery trucks and vans that cater to a diverse range of industries, including retail and e-commerce. This segment benefits from technological advancements in battery efficiency and vehicle range, which enhance operational capabilities. Conversely, the construction segment, while emerging, is witnessing significant traction as electric vehicles are increasingly being adopted for their lower emissions and operational efficiency. Construction companies are exploring electric equipment to comply with stringent regulations and to capitalize on incentives promoting sustainable practices. Both segments are interlinked, as logistics support construction material deliveries, thereby fostering a synergistic growth landscape in the sector.</p>

By Vehicle Type: Light Commercial Vehicle (Largest) vs. Heavy Commercial Vehicle (Fastest-Growing)

<p>The Electric Commercial Vehicle Market is characterized by distinct segments categorized by vehicle type, including Light Commercial Vehicles, Medium Commercial Vehicles, Heavy Commercial Vehicles, Buses, and Vans. Among these, Light Commercial Vehicles hold the largest market share, reflecting their widespread adoption driven by logistical needs and urban delivery services. Heavy Commercial Vehicles, on the other hand, have been identified as a rapidly expanding segment, capturing considerable attention due to increasing regulations favoring carbon reduction and the electrification of heavy fleet operations.</p>

<p>Light Commercial Vehicles (Dominant) vs. Heavy Commercial Vehicles (Emerging)</p>

<p>Light Commercial Vehicles (LCVs) hold a dominant position in the Electric Commercial Vehicle Market, primarily due to their versatility and suitability for last-mile delivery services. These vehicles are favored for urban logistics, offering a balance between payload capacity and efficiency. Conversely, Heavy Commercial Vehicles (HCVs) represent an emerging segment, driven by the need for sustainable transport solutions in freight logistics. With advancements in battery technology and supportive government policies, HCVs are gaining traction as manufacturers focus on electrifying larger vehicles, reducing operational costs, and compliance with stringent emission norms.</p>

By Power Source: Battery Electric Vehicle (Largest) vs. Fuel Cell Electric Vehicle (Fastest-Growing)

<p>In the Electric Commercial Vehicle Market, the market share is significantly skewed towards Battery Electric Vehicles (BEVs), which have established themselves as the largest segment due to their comprehensive range and growing infrastructure support. Plug-in Hybrid Electric Vehicles (PHEVs) and Hybrid Electric Vehicles (HEVs) occupy smaller shares, focusing on a balanced approach between traditional and electric technologies. Fuel Cell Electric Vehicles (FCEVs), while currently trailing in market share, are gaining traction as innovative technologies and hydrogen infrastructure develop, appealing to niche markets and specific applications. The growth trends in this segment reveal a strong shift towards Battery Electric Vehicles, driven by advancements in battery technology and increasing consumer demand for zero-emission solutions. Meanwhile, Fuel Cell Electric Vehicles are projected as the fastest-growing segment, owing to their long-range capabilities and rapid refueling times, making them suitable for commercial applications. This evolution in the power source landscape reflects broader trends towards sustainability and regulatory pressures favoring cleaner technologies.</p>

<p>Battery Electric Vehicle (Dominant) vs. Hybrid Electric Vehicle (Emerging)</p>

<p>Battery Electric Vehicles (BEVs) are currently the dominant force in the Electric Commercial Vehicle Market, recognized for their efficiency, reduced carbon footprint, and advancing technology. They benefit from a significant investment in charging infrastructure and are favored by companies aiming for sustainability goals. In contrast, Hybrid Electric Vehicles (HEVs) represent an emerging segment that combines internal combustion with electric technology, attracting businesses seeking transitional solutions to full electric. HEVs allow for more flexibility in operations while still contributing to emissions reduction. As the market evolves, BEVs are likely to continue leading due to advancements in battery life and charging speed, while HEVs may find a niche where immediate, less comprehensive solutions are required.</p>

By End Use: Urban Transport (Largest) vs. Freight Transport (Fastest-Growing)

<p>The electric commercial vehicle market exhibits a diverse distribution of end use, with urban transport commanding the largest share. This segment benefits from the ongoing push towards cleaner city environments and its alignment with government policies promoting electric vehicle adoption for local transport. Freight transport follows, recognized as the fastest-growing segment, driven by increasing e-commerce demands and the need for sustainable logistics solutions. Recent advancements in battery technology have significantly enhanced the operational viability of electric freight vehicles, making this segment an attractive option for logistics companies. Growth trends in the electric commercial vehicle end use segments are closely linked to urbanization and environmental regulations. As cities strive to reduce emissions, urban transport is gaining traction as municipalities invest in electric bus fleets and charging infrastructure. Meanwhile, the freight transport segment thrives amid technological innovations focusing on efficiency and lower emissions, capturing the interest of carriers looking for sustainable solutions. Public services and construction activities complement these segments, providing further opportunities for electric vehicle integration, particularly in improving operational efficiency and sustainability in their respective operations.</p>

<p>Urban Transport (Dominant) vs. Freight Transport (Emerging)</p>

<p>Urban transport remains the dominant segment within the electric commercial vehicle market, benefiting from significant governmental and municipal support in efforts to curb urban air pollution and promote sustainability. Investments in electric buses and infrastructure development are propelling growth in this area, making it a pivotal part of many cities' transportation strategies. On the other hand, the freight transport segment is emerging rapidly, catalyzed by the logistics industry's shift towards greener options. Delivery services and freight carriers are increasingly adopting electric vehicles as they seek to enhance operational efficiency and meet environmental regulations. Together, these segments reflect a transformative phase in transportation, emphasizing cleaner alternatives and technological advancements that further support their growth and integration.</p>

By Charging Infrastructure: Public Charging Networks (Largest) vs. Fast Charging Stations (Fastest-Growing)

<p>In the Electric Commercial Vehicle Market, the distribution of charging infrastructure reveals that Public Charging Networks hold the largest share, becoming essential for fleet operations and long-distance travel. These networks cater not only to passenger electric vehicles but also significantly to commercial vehicles, ensuring widespread accessibility. In contrast, Fast Charging Stations are rapidly gaining traction as the demand for quick recharging solutions intensifies among fleet operators looking to minimize downtime. As the market shifts toward electric mobility, growth trends are primarily driven by technological advancements and government support for infrastructure development. The push for greener transportation solutions and the expansion of electric vehicle adoption have led to increased investments in fast charging capabilities. Companies are innovating in wireless charging systems to address convenience and efficiency, pointing to a robust evolution in the charging landscape for commercial vehicles.</p>

<p>Public Charging Networks (Dominant) vs. Fast Charging Stations (Emerging)</p>

<p>Public Charging Networks are currently positioned as the dominant player in the Electric Commercial Vehicle Market, providing extensive coverage that supports both short and long-haul logistics. These networks facilitate the integration of electric vehicles into commercial fleets, ensuring that companies can manage their operations effectively with minimal disruptions. In contrast, Fast Charging Stations are emerging as a vital complement to these networks, offering rapid turnaround times that appeal to fleet managers focused on efficiency. With technological advancements and greater infrastructure investment, Fast Charging Stations are paving the way for more flexible, fast recharging solutions that can considerably reduce vehicle downtime. The increasing need for speed and efficiency is pushing this segment forward, making it a vital player in the evolving landscape of electric vehicle infrastructure.</p>

Get more detailed insights about Electric Commercial Vehicle Market Research Report—Global Forecast till 2035

Regional Insights

North America : Leading Market for EVs

North America is poised to maintain its leadership in the Electric Commercial Vehicle (ECV) market, with a projected market size of $6000.0 million by December 2025. Key growth drivers include stringent emissions regulations, increasing demand for sustainable transport solutions, and substantial investments in EV infrastructure. The region's commitment to reducing carbon footprints is further catalyzed by government incentives and policies promoting electric vehicle adoption. The competitive landscape is dominated by major players such as Tesla, Rivian, and Ford, which are innovating rapidly to capture market share. The U.S. leads the charge, supported by a robust supply chain and technological advancements. Canada is also emerging as a significant player, focusing on electric buses and commercial fleets. The presence of established automotive giants and new entrants fosters a dynamic environment for ECV growth.

Europe : Innovative EV Ecosystem

Europe is rapidly evolving into a hub for electric commercial vehicles, with a market size of $4000.0 million anticipated by December 2025. The region's growth is driven by ambitious climate goals, including the European Green Deal, which aims to make Europe climate-neutral by 2050. Regulatory frameworks are increasingly favoring electric vehicles, with incentives for manufacturers and consumers alike, thus enhancing demand for ECVs across various sectors. Leading countries such as Germany, France, and the Netherlands are at the forefront of this transition, with significant investments in EV infrastructure and technology. Major players like Mercedes-Benz and Volvo are innovating to meet the rising demand. The competitive landscape is characterized by a mix of established automotive manufacturers and new entrants, all vying for a share of the growing market. The European market is set to play a crucial role in the global ECV landscape.

Asia-Pacific : Emerging Market Potential

The Asia-Pacific region is witnessing a significant surge in the electric commercial vehicle market, projected to reach $3000.0 million by December 2025. Key growth drivers include rapid urbanization, increasing environmental awareness, and government initiatives aimed at promoting electric mobility. Countries like China and Japan are leading the charge, with substantial investments in EV technology and infrastructure, supported by favorable policies and incentives for manufacturers and consumers. China stands out as a global leader in electric vehicle production, with companies like BYD and Rivian making substantial contributions to the market. Japan is also emerging as a key player, focusing on electric buses and commercial vehicles. The competitive landscape is characterized by a mix of domestic and international players, all striving to capitalize on the growing demand for sustainable transport solutions in the region.

Middle East and Africa : Untapped Market Opportunities

The Middle East and Africa region is gradually recognizing the potential of electric commercial vehicles, with a market size of $1663.02 million expected by December 2025. The growth is driven by increasing urbanization, government initiatives to promote sustainable transport, and a growing awareness of environmental issues. Countries like South Africa and the UAE are beginning to implement policies that encourage the adoption of electric vehicles, creating a favorable environment for market growth. The competitive landscape is still in its nascent stages, with a few key players beginning to establish a foothold. Local manufacturers are exploring partnerships with international companies to enhance their capabilities. The region's unique challenges, such as infrastructure development and regulatory frameworks, present both opportunities and hurdles for the electric commercial vehicle market.

Key Players and Competitive Insights

The Electric Commercial Vehicle Market is currently characterized by a dynamic competitive landscape, driven by technological advancements, regulatory support for sustainability, and increasing demand for efficient logistics solutions. Major players such as Tesla (US), BYD (CN), and Mercedes-Benz (DE) are at the forefront, each adopting distinct strategies to enhance their market positioning. Tesla (US) continues to innovate with its cutting-edge battery technology and autonomous driving capabilities, while BYD (CN) focuses on expanding its production capacity and diversifying its product offerings. Mercedes-Benz (DE) emphasizes luxury and performance in its electric commercial vehicles, aiming to capture a premium segment of the market. Collectively, these strategies contribute to a competitive environment that is increasingly focused on innovation and sustainability.

Key business tactics within the Electric Commercial Vehicle Market include localizing manufacturing and optimizing supply chains to enhance efficiency and reduce costs. The market structure appears moderately fragmented, with several key players exerting influence over various segments. This fragmentation allows for niche players to emerge, while larger companies leverage their scale to dominate in terms of technology and distribution. The collective influence of these key players shapes the market dynamics, fostering a competitive atmosphere that encourages continuous improvement and adaptation.

In November 2025, Tesla (US) announced the opening of a new Gigafactory in Texas, aimed at ramping up production of its electric commercial vehicles. This strategic move is likely to enhance Tesla's manufacturing capabilities and reduce lead times, positioning the company to better meet the growing demand for electric trucks and vans. The establishment of this facility underscores Tesla's commitment to scaling operations and maintaining its competitive edge in the market.

In October 2025, BYD (CN) secured a significant contract with a major logistics company to supply a fleet of electric delivery trucks. This partnership not only reinforces BYD's market presence but also highlights the increasing acceptance of electric vehicles in commercial applications. The contract is expected to bolster BYD's revenue and further establish its reputation as a leader in the electric commercial vehicle sector.

In September 2025, Mercedes-Benz (DE) unveiled its latest electric van model, designed specifically for urban logistics. This launch is indicative of the company's strategy to cater to the growing demand for sustainable urban transport solutions. By focusing on urban environments, Mercedes-Benz aims to capture a segment of the market that prioritizes efficiency and environmental responsibility, thereby enhancing its competitive positioning.

As of December 2025, current trends in the Electric Commercial Vehicle Market are heavily influenced by digitalization, sustainability, and the integration of artificial intelligence. Strategic alliances among key players are shaping the landscape, fostering innovation and collaboration. The competitive differentiation is likely to evolve from traditional price-based competition to a focus on technological advancements, supply chain reliability, and sustainable practices. This shift suggests that companies will need to prioritize innovation and operational excellence to maintain their competitive advantage in an increasingly complex market.

Key Companies in the Electric Commercial Vehicle Market market include

Industry Developments

  • Q2 2025: Daimler Truck and Toyota Finalize Merger of Commercial Vehicle Units Daimler Truck and Toyota completed the merger of their commercial vehicle businesses, creating a new entity focused on electric and hydrogen-powered trucks to accelerate decarbonization in the sector.
  • Q2 2025: Volvo Group Opens New Electric Truck Manufacturing Facility in Belgium Volvo Group inaugurated a new plant in Ghent, Belgium, dedicated to the production of electric heavy-duty trucks for the European market, expanding its manufacturing footprint for zero-emission vehicles.
  • Q2 2025: BYD Wins Major Electric Bus Contract in Brazil BYD secured a contract to supply 1,000 electric buses to the city of São Paulo, marking one of the largest single orders for electric commercial vehicles in Latin America.
  • Q1 2025: Rivian Announces Launch of All-Electric Commercial Van for European Market Rivian unveiled its first all-electric commercial delivery van tailored for European logistics companies, with production set to begin in the second half of 2025.
  • Q1 2025: Tata Motors Receives Indian Government Approval for Electric Truck Production Tata Motors obtained regulatory approval from the Indian government to begin mass production of its new line of electric medium- and heavy-duty trucks.
  • Q4 2024: Mercedes-Benz eEconic Electric Truck Begins Series Production Mercedes-Benz announced the start of series production for its eEconic electric truck at the Wörth plant, targeting municipal and urban logistics customers.
  • Q4 2024: Nikola Appoints New CEO to Accelerate Electric Truck Strategy Nikola Corporation named a new Chief Executive Officer, aiming to strengthen its position in the electric commercial vehicle market and drive upcoming product launches.
  • Q3 2024: Ford Pro Launches E-Transit Custom Electric Van in Europe Ford Pro officially launched the E-Transit Custom, its next-generation electric van, in key European markets, expanding its commercial EV lineup.
  • Q3 2024: Xos Secures $50 Million Contract for Electric Delivery Trucks with Major US Retailer Xos, a US-based electric truck manufacturer, won a $50 million contract to supply electric delivery vehicles to a leading national retailer, supporting the retailer’s fleet electrification goals.
  • Q2 2024: Isuzu Motors and Gatik Announce Autonomous Electric Truck Partnership Isuzu Motors and Gatik announced a partnership to co-develop autonomous electric medium-duty trucks for North American logistics and delivery applications.
  • Q2 2024: Hyundai Unveils XCIENT Fuel Cell Electric Truck for US Market Hyundai introduced its XCIENT Fuel Cell electric truck in the United States, marking the company’s entry into the North American zero-emission commercial vehicle segment.
  • Q1 2024: Lion Electric Opens Largest All-Electric Medium and Heavy-Duty Vehicle Plant in US Lion Electric inaugurated its new manufacturing facility in Joliet, Illinois, which is now the largest dedicated plant for all-electric medium and heavy-duty commercial vehicles in the United States.

Future Outlook

Electric Commercial Vehicle Market Future Outlook

<p>The Electric Commercial Vehicle Market is projected to grow at a 20.87% CAGR from 2024 to 2035, driven by technological advancements, regulatory support, and increasing demand for sustainable transport solutions.</p>

New opportunities lie in:

  • <p>Development of integrated charging infrastructure for commercial fleets.</p>
  • <p>Partnerships with logistics companies for electric vehicle integration.</p>
  • <p>Investment in battery recycling technologies to enhance sustainability.</p>

<p>By 2035, the market is expected to be robust, reflecting substantial growth and innovation.</p>

Market Segmentation

Electric Commercial Vehicle Market End Use Outlook

  • Urban Transport
  • Freight Transport
  • Construction Activities
  • Public Services

Electric Commercial Vehicle Market Application Outlook

  • Logistics
  • Public Transport
  • Construction
  • Delivery Services
  • Waste Management

Electric Commercial Vehicle Market Power Source Outlook

  • Battery Electric Vehicle
  • Plug-in Hybrid Electric Vehicle
  • Fuel Cell Electric Vehicle
  • Hybrid Electric Vehicle

Electric Commercial Vehicle Market Vehicle Type Outlook

  • Light Commercial Vehicle
  • Medium Commercial Vehicle
  • Heavy Commercial Vehicle
  • Buses
  • Vans

Electric Commercial Vehicle Market Charging Infrastructure Outlook

  • Fast Charging Stations
  • Home Charging Solutions
  • Public Charging Networks
  • Wireless Charging Systems

Report Scope

MARKET SIZE 202413663.02(USD Million)
MARKET SIZE 202516514.77(USD Million)
MARKET SIZE 2035109933.6(USD Million)
COMPOUND ANNUAL GROWTH RATE (CAGR)20.87% (2024 - 2035)
REPORT COVERAGERevenue Forecast, Competitive Landscape, Growth Factors, and Trends
BASE YEAR2024
Market Forecast Period2025 - 2035
Historical Data2019 - 2024
Market Forecast UnitsUSD Million
Key Companies ProfiledTesla (US), BYD (CN), Mercedes-Benz (DE), Volvo (SE), Rivian (US), Nikola (US), MAN (DE), Scania (SE), Ford (US), Workhorse (US)
Segments CoveredApplication, Vehicle Type, Power Source, End Use, Charging Infrastructure
Key Market OpportunitiesIntegration of advanced battery technologies enhances efficiency in the Electric Commercial Vehicle Market.
Key Market DynamicsRising regulatory pressures and technological advancements drive the transition to electric commercial vehicles across various sectors.
Countries CoveredNorth America, Europe, APAC, South America, MEA

FAQs

How much is the Electric commercial vehicle market?

The Electric commercial vehicle Market size is expected to be valued at USD 8,788.5 Million in 2022.

What is the growth rate of the Electric commercial vehicle market?

The global market is projected to grow at a CAGR of 20.87% during the forecast period, 2024-2032.

Which region held the largest market share in the Electric commercial vehicle market?

Asia pacific had the largest share of the global market.

Who are the key players in the Electric commercial vehicle market?

The key players in the market are AB VOLVO, TESLA INC, DAIMLER TRUCK AG, PACCAR INC., BYD COMPANY LIMITED, PROTERRA, EBUSCO, ANHUI ANKAI AUTOMOBILE CO., LTD, YUTONG, NFI GROUP INC., SCANIA, VDL, CAF, KING LONG, RENAULT TRUCKS and Others.

Which Propulsion led the Electric commercial vehicle market?

The BEV category dominated the market in 2022.

  1. EXECUTIVE SUMMARY 15
    1. GLOBAL ELECTRIC COMMERCIAL VEHICLE MARKET, BY PROPULSION 17
    2. GLOBAL ELECTRIC COMMERCIAL VEHICLE MARKET, BY COMPONENT 18
    3. GLOBAL ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE 19
    4. GLOBAL ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION 20
  2. MARKET INTRODUCTION 21
    1. DEFINITION 21
    2. SCOPE OF THE STUDY 21
    3. RESEARCH OBJECTIVE 21
    4. MARKET STRUCTURE 22
  3. RESEARCH METHODOLOGY 23
    1. RESEARCH PROCESS 23
    2. PRIMARY RESEARCH 24
    3. SECONDARY RESEARCH 25
    4. MARKET SIZE ESTIMATION 26
    5. FORECAST MODEL 27
    6. LIST OF ASSUMPTIONS 28
  4. MARKET DYNAMICS 29
    1. INTRODUCTION 29
    2. DRIVERS 30
      1. GOVERNMENT INITIATIVES TO ENCOURAGE ADOPTION OF ELECTRIC COMMERCIAL VEHICLES 30
      2. LOW OPERATING COST 30
      3. DRIVERS IMPACT ANALYSIS 31
    3. RESTRAINTS 31
      1. UNDERDEVELOPED CHARGING INFRASTRUCTURE AND POOR AFTERMARKET SERVICES 31
      2. HIGH PRICE AND LIMITED CAPACITY OF BATTERIES 32
      3. RESTRAINT IMPACT ANALYSIS 32
    4. OPPORTUNITIES 33
      1. INCREASING LOGISTIC ACTIVITIES 33
      2. GROWTH IN DEMAND WITHIN FLEETS 33
    5. COVID 19 IMPACT ANALYSIS 34
      1. ECONOMIC IMPACT ON AUTOMOTIVE INDUSTRY 34
      2. IMPACT ON AUTOMOTIVE PRODUCTION 34
      3. IMPACT ON ELECTRIC COMMERCIAL VEHICLE MARKET 36
      4. IMPACT ON WORLD TRADE 36
  5. MARKET FACTOR ANALYSIS 37
    1. SUPPLY CHAIN ANALYSIS: GLOBAL ELECTRIC COMMERCIAL VEHICLE MARKET 37
      1. DESIGN AND DEVELOPMENT 37
      2. RAW MATERIAL SUPPLY 38
      3. ASSEMBLY 38
      4. DISTRIBUTION 38
      5. END USER 38
    2. PORTER'S FIVE FORCES MODEL 39
      1. THREAT OF NEW ENTRANTS 39
      2. BARGAINING POWER OF SUPPLIERS 40
      3. THREAT OF SUBSTITUTES 40
      4. BARGAINING POWER OF BUYERS 40
      5. INTENSITY OF RIVALRY 40
  6. GLOBAL ELECTRIC COMMERCIAL VEHICLE MARKET, BY PROPULSION 41
    1. OVERVIEW 41
    2. BEV 42
    3. PHEV 42
    4. FCEV 43
  7. GLOBAL ELECTRIC COMMERCIAL VEHICLE MARKET, BY COMPONENT 44
    1. OVERVIEW 44
    2. ELECTRIC MOTOR 45
    3. ELECTRIC VEHICLE BATTERY 45
    4. HYDROGEN FUEL CELL 46
    5. OTHERS 46
  8. GLOBAL ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE 47
    1. OVERVIEW 47
    2. BUS 48
    3. TRUCK 48
    4. OTHERS 49
  9. GLOBAL ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION 50
    1. OVERVIEW 50
    2. NORTH AMERICA 52
      1. US 54
      2. CANADA 55
      3. MEXICO 56
    3. EUROPE 57
      1. GERMANY 59
      2. UK 60
      3. FRANCE 61
      4. ITALY 62
      5. REST OF EUROPE 63
    4. ASIA-PACIFIC 65
      1. CHINA 67
      2. JAPAN 68
      3. INDIA 69
      4. REST OF ASIA-PACIFIC 70
    5. REST OF WORLD 72
      1. MIDDLE EAST & AFRICA 74
      2. SOUTH AMERICA 75
  10. COMPETITIVE LANDSCAPE 76
    1. COMPETITIVE OVERVIEW 76
    2. COMPETITIVE BENCHMARKING 77
    3. MARKET SHARE ANALYSIS 78
    4. KEY DEVELOPMENTS IN THE GLOBAL ELECTRIC COMMERCIAL VEHICLE MARKET 78
      1. KEY DEVELOPMENTS: CONTRACTS & AGREEMENTS 78
      2. KEY DEVELOPMENTS: PARTNERSHIPS & COLLABORATIONS 80
      3. KEY DEVELOPMENTS: EXPANSIONS 80
      4. KEY DEVELOPMENTS: PRODUCT DEVELOPMENTS/LAUNCHES 81
      5. KEY DEVELOPMENTS: 82
  11. COMPANY PROFILE 83
    1. AB VOLVO 83
      1. COMPANY OVERVIEW 83
      2. FINANCIAL OVERVIEW 84
      3. PRODUCTS OFFERED 85
      4. KEY DEVELOPMENTS 85
      5. SWOT ANALYSIS 86
      6. KEY STRATEGIES 86
    2. TESLA INC 87
      1. COMPANY OVERVIEW 87
      2. FINANCIAL OVERVIEW 88
      3. PRODUCTS OFFERED 88
      4. KEY DEVELOPMENTS 89
      5. SWOT ANALYSIS 89
      6. KEY STRATEGIES 90
    3. DAIMLER TRUCK AG 91
      1. COMPANY OVERVIEW 91
      2. FINANCIAL OVERVIEW 92
      3. PRODUCTS OFFERED 92
      4. KEY DEVELOPMENTS 93
      5. SWOT ANALYSIS 94
      6. KEY STRATEGIES 94
    4. PACCAR INC. 95
      1. COMPANY OVERVIEW 95
      2. FINANCIAL OVERVIEW 96
      3. PRODUCTS OFFERED 97
      4. KEY DEVELOPMENTS 97
      5. SWOT ANALYSIS 98
      6. KEY STRATEGIES 98
    5. BYD COMPANY LIMITED 99
      1. COMPANY OVERVIEW 99
      2. FINANCIAL OVERVIEW 100
      3. PRODUCTS OFFERED 100
      4. KEY DEVELOPMENTS 101
      5. SWOT ANALYSIS 102
      6. KEY STRATEGIES 102
    6. PROTERRA 103
      1. COMPANY OVERVIEW 103
      2. FINANCIAL OVERVIEW 104
      3. PRODUCTS OFFERED 104
      4. KEY DEVELOPMENTS 105
      5. SWOT ANALYSIS 106
      6. KEY STRATEGIES 106
    7.  
    8. EBUSCO 107
      1. COMPANY OVERVIEW 107
      2. FINANCIAL OVERVIEW 108
      3. PRODUCTS OFFERED 108
      4. KEY DEVELOPMENTS 109
      5. SWOT ANALYSIS 109
      6. KEY STRATEGIES 109
    9. ANHUI ANKAI AUTOMOBILE CO., LTD 111
      1. COMPANY OVERVIEW 111
      2. FINANCIAL OVERVIEW 111
      3. PRODUCTS OFFERED 112
      4. KEY DEVELOPMENTS 112
      5. SWOT ANALYSIS 113
      6. KEY STRATEGIES 113
    10. YUTONG 114
      1. COMPANY OVERVIEW 114
      2. FINANCIAL OVERVIEW 114
      3. PRODUCTS OFFERED 115
      4. KEY DEVELOPMENTS 115
      5. SWOT ANALYSIS 116
      6. KEY STRATEGIES 116
    11. NFI GROUP INC. 117
      1. COMPANY OVERVIEW 117
      2. FINANCIAL OVERVIEW 118
      3. PRODUCTS OFFERED 119
      4. KEY DEVELOPMENTS 119
      5. SWOT ANALYSIS 120
      6. KEY STRATEGIES 120
    12. SCANIA 121
      1. COMPANY OVERVIEW 121
      2. FINANCIAL OVERVIEW 122
      3. PRODUCTS OFFERED 122
      4. KEY DEVELOPMENTS 123
    13. VDL 124
      1. COMPANY OVERVIEW 124
      2. FINANCIAL OVERVIEW 125
      3. PRODUCTS OFFERED 125
      4. KEY DEVELOPMENTS 126
    14. CAF 127
      1. COMPANY OVERVIEW 127
      2. FINANCIAL OVERVIEW 128
      3. PRODUCTS OFFERED 128
      4. KEY DEVELOPMENTS 129
    15. KING LONG 130
      1. COMPANY OVERVIEW 130
      2. FINANCIAL OVERVIEW 130
      3. PRODUCTS OFFERED 130
      4. KEY DEVELOPMENTS 131
    16. RENAULT TRUCKS 132
      1. COMPANY OVERVIEW 132
      2. FINANCIAL OVERVIEW 132
      3. PRODUCTS OFFERED 132
      4. KEY DEVELOPMENTS 133
    17.  
  12. LIST OF TABLES
  13. LIST OF ASSUMPTIONS 28
  14. GLOBAL ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY PROPULSION, 2018-2030 (USD MILLION) 42
  15. GLOBAL ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY COMPONENT, 2018-2030 (USD MILLION) 45
  16. GLOBAL ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY VEHICLE TYPE, 2018-2030 (USD MILLION) 48
  17. GLOBAL ELECTRIC COMMERCIAL VEHICLE MARKET SIZE, BY REGION, 2018-2030 (USD MILLION) 51
  18. NORTH AMERICA: ELECTRIC COMMERCIAL VEHICLE MARKET SIZE, BY COUNTRY, 2018-2030 (USD MILLION) 52
  19. NORTH AMERICA ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY PROPULSION,
  20. NORTH AMERICA ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY COMPONENT,
  21. NORTH AMERICA ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY VEHICLE TYPE,
  22. US ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY PROPULSION, 2018-2030 (USD MILLION) 54
  23. US ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY COMPONENT, 2018-2030 (USD MILLION) 54
  24. US ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY VEHICLE TYPE, 2018-2030 (USD MILLION) 54
  25. CANADA ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY PROPULSION, 2018-2030 (USD MILLION) 55
  26. CANADA ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY COMPONENT, 2018-2030 (USD MILLION) 55
  27. CANADA ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY VEHICLE TYPE, 2018-2030 (USD MILLION) 55
  28. MEXICO ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY PROPULSION, 2018-2030 (USD MILLION) 56
  29. MEXICO ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY COMPONENT, 2018-2030 (USD MILLION) 56
  30. MEXICO ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY VEHICLE TYPE, 2018-2030 (USD MILLION) 56
  31. EUROPE: ELECTRIC COMMERCIAL VEHICLE MARKET SIZE, BY COUNTRY, 2018-2030 (USD MILLION) 58
  32. EUROPE ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY PROPULSION, 2018-2030 (USD MILLION) 58
  33. EUROPE ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY COMPONENT, 2018-2030 (USD MILLION) 58
  34. EUROPE ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY VEHICLE TYPE, 2018-2030 (USD MILLION) 59
  35. GERMANY ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY PROPULSION, 2018-2030 (USD MILLION) 59
  36. GERMANY ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY COMPONENT, 2018-2030 (USD MILLION) 59
  37. GERMANY ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY VEHICLE TYPE, 2018-2030 (USD MILLION) 60
  38. UK ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY PROPULSION, 2018-2030 (USD MILLION) 60
  39. UK ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY COMPONENT, 2018-2030 (USD MILLION) 60
  40. UK ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY VEHICLE TYPE, 2018-2030 (USD MILLION) 61
  41. FRANCE ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY PROPULSION, 2018-2030 (USD MILLION) 61
  42. FRANCE ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY COMPONENT, 2018-2030 (USD MILLION) 61
  43. FRANCE ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY VEHICLE TYPE, 2018-2030 (USD MILLION) 62
  44. ITALY ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY PROPULSION, 2018-2030 (USD MILLION) 62
  45. ITALY ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY COMPONENT, 2018-2030 (USD MILLION) 62
  46. ITALY ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY VEHICLE TYPE, 2018-2030 (USD MILLION) 63
  47. REST OF EUROPE ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY PROPULSION,
  48. REST OF EUROPE ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY COMPONENT,
  49. REST OF EUROPE ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY VEHICLE TYPE,
  50. ASIA-PACIFIC: ELECTRIC COMMERCIAL VEHICLE MARKET SIZE, BY COUNTRY, 2018-2030 (USD MILLION) 66
  51. ASIA-PACIFIC ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY PROPULSION, 2018-2030 (USD MILLION) 66
  52. ASIA-PACIFIC ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY COMPONENT, 2018-2030 (USD MILLION) 66
  53. ASIA-PACIFIC ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY VEHICLE TYPE, 2018-2030 (USD MILLION) 67
  54. CHINA ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY PROPULSION, 2018-2030 (USD MILLION) 67
  55. CHINA ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY COMPONENT, 2018-2030 (USD MILLION) 67
  56. CHINA ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY VEHICLE TYPE, 2018-2030 (USD MILLION) 68
  57. JAPAN ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY PROPULSION, 2018-2030 (USD MILLION) 68
  58. JAPAN ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY COMPONENT, 2018-2030 (USD MILLION) 68
  59. JAPAN ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY VEHICLE TYPE, 2018-2030 (USD MILLION) 69
  60. INDIA ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY PROPULSION, 2018-2030 (USD MILLION) 69
  61. INDIA ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY COMPONENT, 2018-2030 (USD MILLION) 69
  62. INDIA ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY VEHICLE TYPE, 2018-2030 (USD MILLION) 70
  63. REST OF ASIA-PACIFIC ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY PROPULSION,
  64. REST OF ASIA-PACIFIC ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY COMPONENT,
  65. REST OF ASIA-PACIFIC ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY VEHICLE TYPE,
  66. REST OF WORLD: ELECTRIC COMMERCIAL VEHICLE MARKET SIZE, BY REGION, 2018-2030 (USD MILLION) 72
  67. REST OF WORLD ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY PROPULSION,
  68. REST OF WORLD ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY COMPONENT,
  69. REST OF WORLD ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY VEHICLE TYPE,
  70. MIDDLE EAST & AFRICA ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY PROPULSION,
  71. MIDDLE EAST & AFRICA ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY COMPONENT,
  72. MIDDLE EAST & AFRICA ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY VEHICLE TYPE,
  73. SOUTH AMERICA ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY PROPULSION,
  74. SOUTH AMERICA ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY COMPONENT,
  75. SOUTH AMERICA ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY VEHICLE TYPE,
  76. KEY DEVELOPMENTS: CONTRACTS & AGREEMENTS 78
  77. KEY DEVELOPMENTS: PARTNERSHIPS & COLLABORATIONS 80
  78. KEY DEVELOPMENTS: EXPANSIONS 80
  79. KEY DEVELOPMENTS: PRODUCT DEVELOPMENTS/LAUNCHES 81
  80. KEY DEVELOPMENTS: ACQUISITION 82
  81. AB VOLVO: PRODUCTS OFFERED 85
  82. AB VOLVO: KEY DEVELOPMENTS 85
  83. TESLA: PRODUCTS OFFERED 88
  84. TESLA: KEY DEVELOPMENTS 89
  85. DAIMLER TRUCK AG: PRODUCTS OFFERED 92
  86. DAIMLER TRUCK AG: KEY DEVELOPMENTS 93
  87. PACCAR INC.: PRODUCTS OFFERED 97
  88. PACCAR INC.: KEY DEVELOPMENTS 97
  89. BYD COMPANY LIMITED: PRODUCTS OFFERED 100
  90. BYD COMPANY LIMITED: KEY DEVELOPMENTS 101
  91. PROTERRA: PRODUCTS OFFERED 104
  92. PROTERRA: KEY DEVELOPMENTS 105
  93. EBUSCO: PRODUCTS OFFERED 108
  94. EBUSCO: KEY DEVELOPMENTS 109
  95. ANHUI ANKAI AUTOMOBILE CO., LTD.: PRODUCTS OFFERED 112
  96. ANHUI ANKAI AUTOMOBILE CO., LTD.: KEY DEVELOPMENTS 112
  97. YUTONG: PRODUCTS OFFERED 115
  98. YUTONG: KEY DEVELOPMENTS 115
  99. NFI GROUP INC.: PRODUCTS OFFERED 119
  100. NFI GROUP INC.: KEY DEVELOPMENTS 119
  101. SCANIA: PRODUCTS OFFERED 122
  102. SCANIA: KEY DEVELOPMENTS 123
  103. VDL: PRODUCTS OFFERED 125
  104. VDL: KEY DEVELOPMENTS 126
  105. CAF: PRODUCTS OFFERED 128
  106. CAF: KEY DEVELOPMENTS 129
  107. KING LONG: PRODUCTS OFFERED 130
  108. KING LONG: KEY DEVELOPMENTS 131
  109. RENAULT TRUCKS: PRODUCTS OFFERED 132
  110. RENAULT TRUCKS: KEY DEVELOPMENTS 133
    1.  
  111. LIST OF FIGURES
  112. MARKET SYNOPSIS 16
  113. GLOBAL ELECTRIC COMMERCIAL VEHICLE MARKET ANALYSIS, BY PROPULSION, 2022 (%) 17
  114. GLOBAL ELECTRIC COMMERCIAL VEHICLE MARKET ANALYSIS, BY COMPONENT, 2022 (%) 18
  115. GLOBAL ELECTRIC COMMERCIAL VEHICLE MARKET ANALYSIS, BY VEHICLE TYPE, 2022 (%) 19
  116. GLOBAL ELECTRIC COMMERCIAL VEHICLE MARKET ANALYSIS, BY REGION, 2022 (%) 20
  117. GLOBAL ELECTRIC COMMERCIAL VEHICLE MARKET: STRUCTURE 22
  118. RESEARCH PROCESS 23
  119. TOP-DOWN & BOTTOM-UP APPROACHES 26
  120. MARKET DYNAMICS OVERVIEW 29
  121. DRIVERS IMPACT ANALYSIS: GLOBAL ELECTRIC COMMERCIAL VEHICLE MARKET 31
  122. RESTRAINT IMPACT ANALYSIS: GLOBAL ELECTRIC COMMERCIAL VEHICLE MARKET 32
  123. SUPPLY CHAIN: GLOBAL ELECTRIC COMMERCIAL VEHICLE MARKET 37
  124. PORTER'S FIVE FORCES ANALYSIS OF THE ELECTRIC COMMERCIAL VEHICLE MARKET 39
  125. GLOBAL ELECTRIC COMMERCIAL VEHICLE MARKET, BY PROPULSION, 2022 (% SHARE) 41
  126. GLOBAL ELECTRIC COMMERCIAL VEHICLE MARKET, BY PROPULSION, 2018 TO 2030 (USD MILLION) 41
  127. GLOBAL ELECTRIC COMMERCIAL VEHICLE MARKET, BY COMPONENT, 2022 (% SHARE) 44
  128. GLOBAL ELECTRIC COMMERCIAL VEHICLE MARKET, BY COMPONENT, 2018 TO 2030 (USD MILLION) 44
  129. GLOBAL ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2022 (% SHARE) 47
  130. GLOBAL ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2018 TO 2030 (USD MILLION) 47
  131. GLOBAL ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2022 (% SHARE) 50
  132. GLOBAL ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2018 TO 2030 (USD MILLION) 51
  133. NORTH AMERICA: ELECTRIC COMMERCIAL VEHICLE MARKET SHARE, BY COUNTRY, 2022 (% SHARE) 52
  134. EUROPE: ELECTRIC COMMERCIAL VEHICLE MARKET SHARE, BY COUNTRY, 2022 (% SHARE) 57
  135. ASIA-PACIFIC: ELECTRIC COMMERCIAL VEHICLE MARKET SHARE, BY COUNTRY, 2022 (% SHARE) 65
  136. REST OF WORLD: ELECTRIC COMMERCIAL VEHICLE MARKET SHARE, BY REGION, 2022 (% SHARE) 72
  137. BENCHMARKING OF MAJOR COMPETITORS 77
  138. GLOBAL ELECTRIC COMMERCIAL VEHICLE MARKET SHARE ANALYSIS, 2022 78
  139. AB VOLVO: FINANCIAL OVERVIEW SNAPSHOT 84
  140. AB VOLVO: SWOT ANALYSIS 86
  141. TESLA: FINANCIAL OVERVIEW SNAPSHOT 88
  142. TESLA: SWOT ANALYSIS 89
  143. DAIMLER TRUCK AG: FINANCIAL OVERVIEW SNAPSHOT 92
  144. DAIMLER TRUCK AG: SWOT ANALYSIS 94
  145. PACCAR INC.: FINANCIAL OVERVIEW SNAPSHOT 96
  146. PACCAR INC.: SWOT ANALYSIS 98
  147. BYD COMPANY LIMITED: FINANCIAL OVERVIEW SNAPSHOT 100
  148. BYD COMPANY LIMITED: SWOT ANALYSIS 102
  149. PROTERRA: FINANCIAL OVERVIEW SNAPSHOT 104
  150. PROTERRA: SWOT ANALYSIS 106
  151. EBUSCO: FINANCIAL OVERVIEW SNAPSHOT 108
  152. EBUSCO: SWOT ANALYSIS 109
  153. ANHUI ANKAI AUTOMOBILE CO., LTD.: FINANCIAL OVERVIEW SNAPSHOT 111
  154. ANHUI ANKAI AUTOMOBILE CO., LTD.: SWOT ANALYSIS 113
  155. YUTONG: FINANCIAL OVERVIEW SNAPSHOT 114
  156. YUTONG: SWOT ANALYSIS 116
  157. NFI GROUP INC.: FINANCIAL OVERVIEW SNAPSHOT 118
  158. NFI GROUP INC: SWOT ANALYSIS 120
  159. SCANIA: FINANCIAL OVERVIEW SNAPSHOT 122
  160. VDL: FINANCIAL OVERVIEW SNAPSHOT 125
  161. CAF: FINANCIAL OVERVIEW SNAPSHOT 128

Electric Commercial Vehicle Market Segmentation

Market Segmentation Overview

  • Detailed segmentation data will be available in the full report
  • Comprehensive analysis by multiple parameters
  • Regional and country-level breakdowns
  • Market size forecasts by segment
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