Electric Commercial Vehicle Market: A Breakdown of the Industry by Technology, Application, and Geography


Increasing demand for emission-free commercial vehicles is a key factor driving market revenue growthMarket Size – USD 56.34 Billion in 2021, Market Growth – at a CAGR of 34.4%, Market Trends – Rising oil prices accelerating the shift to Electric Vehicles (EV)

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The Global Electric Commercial Vehicle Market research study published by Emergen Research is an extensive collection of insightful information about the Electric Commercial Vehicle industry. The report covers the Electric Commercial Vehicle Market segmentation along with a detailed outline of the Electric Commercial Vehicle market size with regards to volume and valuation. The report provides comprehensive coverage of the Electric Commercial Vehicle market scenario for the current period and forecast timeline of 2020-2027. The Electric Commercial Vehicle market report contains an in-depth analysis of the historical, current, and projected revenues for every industry vertical, segment, end-use industries, applications, and regions.

The global electric commercial vehicle market size was USD 56.34 Billion in 2021 and is expected to register a revenue CAGR of 34.4% during the forecast period, according to latest analysis by Emergen Research. Rising demand for emission-free commercial vehicles is expected to support market revenue growth between 2022 and 2030. In addition, implementation of electric buses as public transit is expected to change public transit worldwide over the upcoming years by lowering emissions, decreasing levels of noise, and enhancing fuel efficiency. Moreover, rising volumes of Carbon Dioxide (CO2) emissions and other hazardous pollutants due to petrol and diesel transportation leading firms to sift in commercial electric vehicle And rising demand for green and renewable energy are driving electric commercial vehicle market growth during the forecast period.

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The report further sheds light on the emerging growth opportunities, challenges, market threats, limitations, and factors likely to restrict the growth of the Electric Commercial Vehicle market. The report further discusses in detail the market in international waters and the emerging trends in those regions. It also offers insights into the competitive landscape, market drivers, industrial scenario, and the latest product and technological developments to offer a comprehensive overview of the Electric Commercial Vehicle market landscape.

The increased use of Electric Commercial Vehicle by municipalities and enterprises is responsible for the market's expansion. The Electric Commercial Vehicle market is anticipated to grow at a faster rate during the forecast period than traditional treatment procedures like thermal oxidation and chemical oxidation due to the reduced operational and capital costs of Electric Commercial Vehicle. The demand for Electric Commercial Vehicle is rising as more people are embracing biological treatment methods like aerobic activated sludge. The use of Electric Commercial Vehicle solutions is projected to increase in the near future due to rising restrictions on the discharge of treated effluents into freshwater bodies.

The Electric Commercial Vehicle research report also includes an insightful study of the prominent players of the industry along with their business overview, strategic planning, and business expansion plans adopted by them. This assists the readers and business owners in formulating strategic expansion and investment plans.

The key companies studied in the report are:

Yutong, BYD, VDL Groep, Proterra, AB Volvo, NFI Group, Daimler AG, King Long, Ebusco B.V., Ankai

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On the basis of regional analysis, the market is segmented into the following regions: North America, Latin America, Europe, Asia Pacific, and Middle East Africa. The market is expected to be dominated by North American nations closely followed by European countries. Asia Pacific is expected to show a significant growth owing to recent advancements and rising investments in the RD sector.

  • Component Outlook (Revenue, USD Billion; 2017-2027)

    • Electric Motor
    • Electric Vehicle Battery
    • Hydrogen Fuel Cell
  • Propulsion Type Outlook (Revenue, USD Billion; 2017-2027)

    • BEV
    • PHEV
    • FCEV
  • Vehicle Type Outlook (Revenue, USD Billion; 2017-2027)

    • Electric Bus
    • Electric Truck (Medium and Heavy Duty Trucks)
    • Electric Pick-up Truck
    • Electric Van

The report addresses the following key points:

  • The report estimates the expected market size from 2020-2027
  • The report provides a forecast of market drivers, restraints, and future opportunities for the Electric Commercial Vehicle market
  • The report further analyses the changing market dynamics
  • Regional analysis and segmentation of the market with analysis of the regions and segments expected to dominate the market growth
  • Extensive competitive landscape mapping with profiles of the key competitors
  • In-depth analysis of business strategies and collaborations such as mergers and acquisitions adopted by the key companies
  • Revenue forecast, country scope, application insights, and product insights

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