Electric Commercial Vehicle Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027 Segmented By Vehicle Type (Light Commercial Vehicle, Bus, Truck), By Propulsion Type (Battery Electric Vehicle, Hybrid Electric Vehicle, Plug-in Hybrid Electric Vehicle, Fuel Cell Electric Vehicle, By Range (0-150 Miles 151-250 Miles 251-500 Miles 500 Miles & Above), By Region

  • Industry : Automotive
  • Pages : 110
  • Published Date : September, 2022
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Summary

Report Description

Global electric commercial vehicle market stood around USD 85,759 million in 2021 and is estimated to reach USD 278,583 Million by 2027, registering a CAGR of 22.02%. Rapidly increasing in electrification and rising awareness toward zero emissions is expected to drive the growth of the global electric commercial vehicle market during the forecast period.

Electric commercial vehicles are energized by electricity rather than diesel or gasoline. Electric vehicles can be vans, trucks, buses, construction machinery such as excavators or wheel loaders and, agricultural vehicles such as combine harvesters or tractors. The power to operate them generates from an on-board battery, which gets recharged from the power grid. As in an electric commercial vehicle, the electric motor transforms the electrical energy into mechanical energy. DC-to-DC converter is one of the key components in the electrical system, which supplies power to the power network. In these vehicles the driver inverter transforms the battery’s DC into the AC which is needed to power the vehicle.

Adoption of Electric and Hybrid Powertrains

The running cost and maintenance costs of electric and hybrid vehicles are low as compared to internal combustion engine vehicles. Furthermore, with raising concerns regarding environmental pollution caused by vehicle emission including commercial vehicles, the government of many countries across the world has supported the adoption of electric vehicles in the transportation through price incentives and supportive policy formulation. The logistic industry has been witnessing a faster adoption of electric vehicles due to numerous stimuli such as subsidies and tax exemptions on electric and hybrid vehicles and scrappage policies regularizing across the world.

Improvement in Battery Technologies

In electric commercial vehicles, high power batteries are used for moving the vehicles. Many companies use the Li-ion battery for motorcycles as they are more powerful in terms of performance. The battery can get charged by any charger such as Level1, Level2, and Level3 charger at any charging station which provides these types of chargers. The battery in the commercial vehicle has a long lifetime which also means that the buyers can invest one time in battery. Many battery companies are making major investments in their research and development facilities of to improve the battery technology which correspondingly drives the market growth.

Government Initiatives

The government in almost every country across the globe is offering various incentive schemes and tax rebates to aid the faster adoption of EVs. As per the U.S. Energy Information Administration, around 90% of the energy consumed in the U.S. transportation is operated from petroleum. The transportation sector is also the leading source of greenhouse gas emissions (GHGs) in the U.S., accounting for 29% of the nation’s Green House Gas Emissions. To minimize this, many states have implemented incentives to benefit the adoption of electric vehicles (EVs), which includes plug-in hybrid vehicles (PHEVs) and battery electric vehicles (BEVs). In 2020, California, was the first state in the United States to introduce a ZEV sales requirement for heavy-commercial trucks as per Advanced Clean Truck Regulation. Netherlands and many other countries are introducing zero-emission commercial vehicle zones and with such initiatives, government(s) are concerned about the ICE vehicle emissions and are providing numerous schemes for better and faster adoption of zero-emission vehicles, including electric commercial vehicle and hence, the market is being aided by such initiatives globally.

Economic Slowdown

The global economy is facing an economic slowdown, which is significantly impacting the global electric commercial vehicle industry. In the year 2019, the world’s major economic investments contracted out of the targeted investment of around trillions of dollars. The infrastructure segments majorly impacted by the economic recession includes production and sales. For instance, in 2019, the World Bank targeted the goal of doubling road infrastructure development but awarded only half of it. Thus, this trend is expected to pressurize manufacturers to cut-down their production capacity and operational activities due to a lack of funds and demand.


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Market Segmentation

The global electric commercial vehicle market is segmented by vehicle type (light commercial vehicle ,bus, truck), by propulsion type  (battery electric vehicle, hybrid electric vehicle, plug-in hybrid electric vehicle, fuel cell electric vehicle), by range (0-150 miles, 151-250 miles, 251-500 miles, and 500 miles & Above).The market analysis also studies the regional segmentation to devise regional market segmentation, divided among APAC, Europe, North America, South America region and Middle East & Africa region. In terms of country, the United States electric commercial vehicle market is forecast to grow at a faster rate and is expected to reach around USD 121,741.50 Million during the forecast period.

Company Profiles

Major players operating in the global electric commercial vehicle market are BYD Auto Co., Ltd., The General Motors Company, Tesla, Inc., SAIC Motor Corp., Ltd., Nikola Motor Co., Rivian Automotive, Inc., Volvo Trucks, Renault–Nissan–Mitsubishi Alliance, Ford Motors Corporation, Toyota Motor Corporation. Players are developing advanced technologies to stay competitive in the market and enhancing their product portfolio in the regions to increase their customer outreach.

Attribute

Details

Market size value in 2021

USD 85,759.46 Million

Revenue Forecast in 2027

USD 278,583.01 Million

US Revenue Forecast in 2027

USD 121,741.50 Million

Growth Rate

22.02%

Base Year

2021

Historical Years

2017 – 2021

Estimated Year

2022

Forecast Period

2023 – 2027

Quantitative Units

Revenue in USD Million, Volume in Units, and CAGR for 2017-2021 and 2022-2027.

Report Coverage

Revenue forecast, volume forecast, company share, competitive landscape, growth factors, and trends

Segments Covered

·         Vehicle Type

·         Propulsion Type

·         Range

·         Region

·         Company

Regional Scope

APAC; Europe; North America; South America; Middle East & Africa

Country Scope

China, India, Australia, Japan, South Korea, Thailand, Malaysia, United States, Mexico, Canada, Norway, Germany, France, Netherland, Italy, Spain; United Kingdom; Sweden; Israel; Saudi Arabia; UAE; South Africa; Qatar; Brazil; Argentina; Colombia

Key Companies Profiled

BYD Auto Co., Ltd., The General Motors Company, Tesla, Inc., SAIC Motor Corp., Ltd., Nikola Motor Co., Rivian, Volvo Trucks, Renault–Nissan–Mitsubishi Alliance, Ford Motors Corporation, Toyota Motor Corporation.

Customization Scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and Purchase Options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request)

 

Report Scope:

In this report, global electric commercial vehicle market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

  • Global Electric Commercial Vehicle Market, By Propulsion Type:
    • HEV
    • BEV
    • PHEV
    • FCEV
  • Global Electric Commercial Vehicle Market, By Vehicle Type:
    • LCV
    • Truck
    • Bus
  • Global Electric Commercial Vehicle Market, By Range:
    • 0-150 Miles
    • 151-250 Miles
    • 251-500 Miles
    • 500 Miles & Above
  • Global Electric Commercial Vehicle Market, By Region:
    • Asia-Pacific
      • China
      • Japan
      • South Korea
      • India
      • Australia
      • Thailand
      • Malaysia
    • North America
      • United States
      • Canada
      • Mexico
    • Europe
      • France
      • Germany
      • United Kingdom
      • Norway
      • Netherland
      • Italy
      • Spain
      • Sweden
    • South America
      • Brazil
      • Argentina
      • Colombia
    • Middle East & Africa
      • UAE
      • Israel
      • South Africa
      • Saudi Arabia

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in global electric commercial vehicle market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Table of content

1.     Product Overview

2.    Research Methodology

3.    Executive Summary

4.    Impact of COVID-19 on Global Electric Commercial Vehicle Market

5.    Voice of Customers

5.1.1.     Factors Influencing Purchase Decision

5.1.2.     Brand Recall

5.1.3.     Brand Satisfaction Level

6.    Global Electric Commercial Vehicle Market Outlook

6.1.  Market Size & Forecast

6.1.1.     By Value & Volume

6.2.  Market Share & Forecast

6.2.1.     By Propulsion Type (HEV, BEV, PHEV, FCEV)

6.2.2.     By Vehicle Type (LCV, Bus, and Truck)

6.2.3.     By Range (0-150 Miles 151-250 Miles 251-500 Miles 500 Miles & Above)

6.2.4.     By Region

6.2.5.     By Company (2021)

6.3.  Market Map (By Propulsion Type, By Vehicle Type, By Range, By Region)

7.    Asia-Pacific Electric Commercial Vehicle Market Outlook

7.1.  Market Size & Forecast

7.1.1.     By Value & Volume

7.2.  Market Share & Forecast

7.2.1.     By Propulsion Type

7.2.2.     By Vehicle Type

7.2.3.     By Range

7.2.4.     By Country

7.3.  Market Map (By Vehicle Type, By Country)

7.3.1.     China Electric Commercial Vehicle Market Outlook

7.3.1.1.         Market Size & Forecast

7.3.1.1.1.             By Value & Volume

7.3.1.2.         Market Share & Forecast

7.3.1.2.1.             By Propulsion Type

7.3.1.2.2.             By Vehicle Type

7.3.1.2.3.             By Range

7.3.2.     Japan Electric Commercial Vehicle Market Outlook

7.3.2.1.         Market Size & Forecast

7.3.2.1.1.             By Value & Volume

7.3.2.2.         Market Share & Forecast

7.3.2.2.1.             By Propulsion Type

7.3.2.2.2.             By Vehicle Type

7.3.2.2.3.             By Range

7.3.3.     South Korea Electric Commercial Vehicle Market Outlook

7.3.3.1.         Market Size & Forecast

7.3.3.1.1.             By Value & Volume

7.3.3.2.         Market Share & Forecast

7.3.3.2.1.             By Propulsion Type

7.3.3.2.2.             By Vehicle Type

7.3.3.2.3.             By Range

7.3.4.     India Electric Commercial Vehicle Market Outlook

7.3.4.1.         Market Size & Forecast

7.3.4.1.1.             By Value & Volume

7.3.4.2.         Market Share & Forecast

7.3.4.2.1.             By Propulsion Type

7.3.4.2.2.             By Vehicle Type

7.3.4.2.3.             By Range

7.3.5.     Australia Electric Commercial Vehicle Market Outlook

7.3.5.1.         Market Size & Forecast

7.3.5.1.1.             By Value & Volume

7.3.5.2.         Market Share & Forecast

7.3.5.2.1.             By Propulsion Type

7.3.5.2.2.             By Vehicle Type

7.3.5.2.3.             By Range

7.3.6.     Thailand Electric Commercial Vehicle Market Outlook

7.3.6.1.         Market Size & Forecast

7.3.6.1.1.             By Value & Volume

7.3.6.2.         Market Share & Forecast

7.3.6.2.1.             By Propulsion Type

7.3.6.2.2.             By Vehicle Type

7.3.6.2.3.             By Range

7.3.7.     Malaysia Electric Commercial Vehicle Market Outlook

7.3.7.1.         Market Size & Forecast

7.3.7.1.1.             By Value & Volume

7.3.7.2.         Market Share & Forecast

7.3.7.2.1.             By Propulsion Type

7.3.7.2.2.             By Vehicle Type

7.3.7.2.3.             By Range

8.    North America Electric Commercial Vehicle Market Outlook

8.1.  Market Size & Forecast

8.1.1.     By Value & Volume

8.2.  Market Share & Forecast

8.2.1.     By Propulsion Type

8.2.2.     By Vehicle Type

8.2.3.     By Range

8.2.4.     By Country

8.3.  Market Map (By Vehicle Type, By Country)

8.3.1.     United States of America Electric Commercial Vehicle Market Outlook

8.3.1.1.         Market Size & Forecast

8.3.1.1.1.             By Value & Volume

8.3.1.2.         Market Share & Forecast

8.3.1.2.1.             By Propulsion Type

8.3.1.2.2.             By Vehicle Type

8.3.1.2.3.             By Range

8.3.2.     Canada Electric Commercial Vehicle Market Outlook

8.3.2.1.         Market Size & Forecast

8.3.2.1.1.             By Value & Volume

8.3.2.2.         Market Share & Forecast

8.3.2.2.1.             By Propulsion Type

8.3.2.2.2.             By Vehicle Type

8.3.2.2.3.             By Range

8.3.3.     Mexico Electric Commercial Vehicle Market Outlook

8.3.3.1.         Market Size & Forecast

8.3.3.1.1.             By Value & Volume

8.3.3.2.         Market Share & Forecast

8.3.3.2.1.             By Propulsion Type

8.3.3.2.2.             By Vehicle Type

8.3.3.2.3.             By Range

9.    Europe Electric Commercial Vehicle Market Outlook

9.1.  Market Size & Forecast

9.1.1.     By Value & Volume

9.2.  Market Share & Forecast

9.2.1.     By Propulsion Type

9.2.2.     By Vehicle Type

9.2.3.     By Range

9.2.4.     By Country

9.3.  Market Map (By Vehicle Type, By Country)

9.3.1.     France Electric Commercial Vehicle Market Outlook

9.3.1.1.         Market Size & Forecast

9.3.1.1.1.             By Value & Volume

9.3.1.2.         Market Share & Forecast

9.3.1.2.1.             By Propulsion Type

9.3.1.2.2.             By Vehicle Type

9.3.1.2.3.             By Range

9.3.2.     Germany Electric Commercial Vehicle Market Outlook

9.3.2.1.         Market Size & Forecast

9.3.2.1.1.             By Value & Volume

9.3.2.2.         Market Share & Forecast

9.3.2.2.1.             By Propulsion Type

9.3.2.2.2.             By Vehicle Type

9.3.2.2.3.             By Range

9.3.3.     United Kingdom Electric Commercial Vehicle Market Outlook

9.3.3.1.         Market Size & Forecast

9.3.3.1.1.             By Value & Volume

9.3.3.2.         Market Share & Forecast

9.3.3.2.1.             By Propulsion Type

9.3.3.2.2.             By Vehicle Type

9.3.3.2.3.             By Range

9.3.4.     Norway Electric Commercial Vehicle Market Outlook

9.3.4.1.         Market Size & Forecast

9.3.4.1.1.             By Value & Volume

9.3.4.2.         Market Share & Forecast

9.3.4.2.1.             By Propulsion Type

9.3.4.2.2.             By Vehicle Type

9.3.4.2.3.             By Range

9.3.5.     Netherland Electric Commercial Vehicle Market Outlook

9.3.5.1.         Market Size & Forecast

9.3.5.1.1.             By Value & Volume

9.3.5.2.         Market Share & Forecast

9.3.5.2.1.             By Propulsion Type

9.3.5.2.2.             By Vehicle Type

9.3.5.2.3.             By Range

9.3.6.     Italy Electric Commercial Vehicle Market Outlook

9.3.6.1.         Market Size & Forecast

9.3.6.1.1.             By Value & Volume

9.3.6.2.         Market Share & Forecast

9.3.6.2.1.             By Propulsion Type

9.3.6.2.2.             By Vehicle Type

9.3.6.2.3.             By Range

9.3.7.     Spain Electric Commercial Vehicle Market Outlook

9.3.7.1.         Market Size & Forecast

9.3.7.1.1.             By Value & Volume

9.3.7.2.         Market Share & Forecast

9.3.7.2.1.             By Propulsion Type

9.3.7.2.2.             By Vehicle Type

9.3.7.2.3.             By Range

9.3.8.     Sweden Electric Commercial Vehicle Market Outlook

9.3.8.1.         Market Size & Forecast

9.3.8.1.1.             By Value & Volume

9.3.8.2.         Market Share & Forecast

9.3.8.2.1.             By Propulsion Type

9.3.8.2.2.             By Vehicle Type

9.3.8.2.3.             By Range

10.  South America Electric Commercial Vehicle Market Outlook

10.1.              Market Size & Forecast

10.1.1.  By Value & Volume

10.2.              Market Share & Forecast

10.2.1.  By Propulsion Type

10.2.2.  By Vehicle Type

10.2.3.  By Range

10.2.4.  By Country

10.3.              Market Map (By Vehicle Type, By Country)

10.3.1.  Brazil Electric Commercial Vehicle Market Outlook

10.3.1.1.      Market Size & Forecast

10.3.1.1.1.           By Value & Volume

10.3.1.2.      Market Share & Forecast

10.3.1.2.1.           By Propulsion Type

10.3.1.2.2.           By Vehicle Type

10.3.1.2.3.           By Range

10.3.2.  Argentina Electric Commercial Vehicle Market Outlook

10.3.2.1.      Market Size & Forecast

10.3.2.1.1.           By Value & Volume

10.3.2.2.      Market Share & Forecast

10.3.2.2.1.           By Propulsion Type

10.3.2.2.2.           By Vehicle Type

10.3.2.2.3.           By Range

10.3.3.  Colombia Electric Commercial Vehicle Market Outlook

10.3.3.1.      Market Size & Forecast

10.3.3.1.1.           By Value & Volume

10.3.3.2.      Market Share & Forecast

10.3.3.2.1.           By Propulsion Type

10.3.3.2.2.           By Vehicle Type

10.3.3.2.3.           By Range

11.  Middle East and Africa Electric Commercial Vehicle Market Outlook

11.1.              Market Size & Forecast

11.1.1.  By Value & Volume

11.2.              Market Share & Forecast

11.2.1.  By Propulsion Type

11.2.2.  By Vehicle Type

11.2.3.  By Range

11.2.4.  By Country

11.3.              Market Map (By Vehicle Type, By Country)

11.3.1.  UAE Electric Commercial Vehicle Market Outlook

11.3.1.1.      Market Size & Forecast

11.3.1.1.1.           By Value & Volume

11.3.1.2.      Market Share & Forecast

11.3.1.2.1.           By Propulsion Type

11.3.1.2.2.           By Vehicle Type

11.3.1.2.3.           By Range

11.3.2.  Israel Electric Commercial Vehicle Market Outlook

11.3.2.1.      Market Size & Forecast

11.3.2.1.1.           By Value & Volume

11.3.2.2.      Market Share & Forecast

11.3.2.2.1.           By Propulsion Type

11.3.2.2.2.           By Vehicle Type

11.3.2.2.3.           By Range

11.3.3.  South Africa Electric Commercial Vehicle Market Outlook

11.3.3.1.      Market Size & Forecast

11.3.3.1.1.           By Value & Volume

11.3.3.2.      Market Share & Forecast

11.3.3.2.1.           By Propulsion Type

11.3.3.2.2.           By Vehicle Type

11.3.3.2.3.           By Range

11.3.4.  Saudi Arabia Electric Commercial Vehicle Market Outlook

11.3.4.1.      Market Size & Forecast

11.3.4.1.1.           By Value & Volume

11.3.4.2.      Market Share & Forecast

11.3.4.2.1.           By Propulsion Type

11.3.4.2.2.           By Vehicle Type

11.3.4.2.3.           By Range

12.  Market Dynamics

12.1.  Drivers

12.2.  Challenges

13.  Market Trends and Developments

14.  Competitive Landscape

14.1.              BYD Auto Co., Ltd.

14.2.              The General Motors Company

14.3.              Tesla, Inc.

14.4.              Nikola Motor Co

14.5.              Volvo Trucks

14.6.              Renault–Nissan–Mitsubishi Alliance

14.7.              Rivian Automotive, Inc. Automotive Inc.

14.8.              Ford Motors Corporation

14.9.              Toyota Motor Corporation

14.10.            SAIC Motor Corp., Ltd.

15.  Strategic Recommendations

16.  About Us & Disclaimer

Figures and Tables

List of Figures

Figure 1: Global Electric Commercial Vehicle Market Size, By Volume (Units), 2017-2027F

Figure 2: Global Electric Commercial Vehicle Market Size, By Value (USD Million), 2017-2027F

Figure 3: Global Electric Commercial Vehicle Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure 4: Global Electric Commercial Vehicle Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 5: Global Electric Commercial Vehicle Market Share, By Range, By Volume, 2017-2027F

Figure 6: Global Electric Commercial Vehicle Market Share, By Region, By Volume, 2017-2027F

Figure 7: Global Electric Commercial Vehicle Market Share, By Company, By Value, 2021

Figure 8: Global Electric Commercial Vehicle Market Map, By Country, Market Size (Units) & Growth Rate (%)

Figure 9: Global Electric Commercial Vehicle Market Map, By Vehicle Type, Market Size (Units) & Growth Rate (%)

Figure 10: Global Electric Commercial Vehicle Market Map, By Range Market Size (Units) & Growth Rate (%)

Figure 11: Global Electric Commercial Vehicle Market Map, By Region, Market Size (Units) & Growth Rate (%)

Figure 12: APAC Electric Commercial Vehicle Market Size, By Volume (Units), 2017-2027F

Figure 13: APAC Electric Commercial Vehicle Market Size, By Value (USD Million), 2017-2027F

Figure 14: APAC Electric Commercial Vehicle Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure 15: APAC Electric Commercial Vehicle Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 16: APAC Electric Commercial Vehicle Market Share, By Range, By Volume, 2017-2027F

Figure 17: APAC Electric Commercial Vehicle Market Share, By Country, By Volume, 2017-2027F

Figure 18: APAC Electric Commercial Vehicle Market Map, By Country, Market Size (Units) & Growth Rate (%)

Figure 19: APAC Electric Commercial Vehicle Market Map, By Vehicle Type, Market Size (Units) & Growth Rate (%)

Figure 20: China Electric Commercial Vehicle Market Size, By Volume (Units), 2017-2027F

Figure 21: China Electric Commercial Vehicle Market Size, By Value (USD Million), 2017-2027F

Figure 22: China Electric Commercial Vehicle Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure 23: China Electric Commercial Vehicle Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 24: China Electric Commercial Vehicle Market Share, By Range, By Volume, 2017-2027F

Figure 25: Japan Electric Commercial Vehicle Market Size, By Volume (Units), 2017-2027F

Figure 26: Japan Electric Commercial Vehicle Market Size, By Value (USD Million), 2017-2027F

Figure 27: Japan Electric Commercial Vehicle Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure 28: Japan Electric Commercial Vehicle Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 29: Japan Electric Commercial Vehicle Market Share, By Range, By Volume, 2017-2027F

Figure 30: South Korea Electric Commercial Vehicle Market Size, By Volume (Units), 2017-2027F

Figure 31: South Korea Electric Commercial Vehicle Market Size, By Value (USD Million), 2017-2027F

Figure 32: South Korea Electric Commercial Vehicle Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure 33: South Korea Electric Commercial Vehicle Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 34: South Korea Electric Commercial Vehicle Market Share, By Range, By Volume, 2017-2027F

Figure 35: India Electric Commercial Vehicle Market Size, By Volume (Units), 2017-2027F

Figure 36: India Electric Commercial Vehicle Market Size, By Value (USD Million), 2017-2027F

Figure 37: India Electric Commercial Vehicle Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure 38: India Electric Commercial Vehicle Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 39: India Electric Commercial Vehicle Market Share, By Range, By Volume, 2017-2027F

Figure 40: Australia Electric Commercial Vehicle Market Size, By Volume (Units), 2017-2027F

Figure 41: Australia Electric Commercial Vehicle Market Size, By Value (USD Million), 2017-2027F

Figure 42: Australia Electric Commercial Vehicle Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure 43: Australia Electric Commercial Vehicle Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 44: Australia Electric Commercial Vehicle Market Share, By Range, By Volume, 2017-2027F

Figure 45: Thailand Electric Commercial Vehicle Market Size, By Volume (Units), 2017-2027F

Figure 46: Thailand Electric Commercial Vehicle Market Size, By Value (USD Million), 2017-2027F

Figure 47: Thailand Electric Commercial Vehicle Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure 48: Thailand Electric Commercial Vehicle Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 49: Thailand Electric Commercial Vehicle Market Share, By Range, By Volume, 2017-2027F

Figure 50: Malaysia Electric Commercial Vehicle Market Size, By Volume (Units), 2017-2027F

Figure 51: Malaysia Electric Commercial Vehicle Market Size, By Value (USD Million), 2017-2027F

Figure 52: Malaysia Electric Commercial Vehicle Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure 53: Malaysia Electric Commercial Vehicle Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 54: Malaysia Electric Commercial Vehicle Market Share, By Range, By Volume, 2017-2027F

Figure 55: North America Electric Commercial Vehicle Market Size, By Volume (Units), 2017-2027F

Figure 56: North America Electric Commercial Vehicle Market Size, By Value (USD Million), 2017-2027F

Figure 57: North America Electric Commercial Vehicle Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure 58: North America Electric Commercial Vehicle Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 59: North America Electric Commercial Vehicle Market Share, By Range, By Volume, 2017-2027F

Figure 60: North America Electric Commercial Vehicle Market Share, By Country, By Volume, 2017-2027F

Figure 61: North America Electric Commercial Vehicle Market Map, By Country, Market Size (Units) & Growth Rate (%)

Figure 62: North America Electric Commercial Vehicle Market Map, By Vehicle Type, Market Size (Units) & Growth Rate (%)

Figure 63: United States Electric Commercial Vehicle Market Size, By Volume (Units), 2017-2027F

Figure 64: United States Electric Commercial Vehicle Market Size, By Value (USD Million), 2017-2027F

Figure 65: United States Electric Commercial Vehicle Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure 66: United States Electric Commercial Vehicle Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 67: United States Electric Commercial Vehicle Market Share, By Range, By Volume, 2017-2027F

Figure 68: Canada Electric Commercial Vehicle Market Size, By Volume (Units), 2017-2027F

Figure 69: Canada Electric Commercial Vehicle Market Size, By Value (USD Million), 2017-2027F

Figure 70: Canada Electric Commercial Vehicle Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure 71: Canada Electric Commercial Vehicle Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 72: Canada Electric Commercial Vehicle Market Share, By Range, By Volume, 2017-2027F

Figure 73: Mexico Electric Commercial Vehicle Market Size, By Volume (Units), 2017-2027F

Figure 74: Mexico Electric Commercial Vehicle Market Size, By Value (USD Million), 2017-2027F

Figure 75: Mexico Electric Commercial Vehicle Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure 76: Mexico Electric Commercial Vehicle Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 77: Mexico Electric Commercial Vehicle Market Share, By Range, By Volume, 2017-2027F

Figure 78: Europe Electric Commercial Vehicle Market Size, By Volume (Units), 2017-2027F

Figure 79: Europe Electric Commercial Vehicle Market Size, By Value (USD Million), 2017-2027F

Figure 80: Europe Electric Commercial Vehicle Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure 81: Europe Electric Commercial Vehicle Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 82: Europe Electric Commercial Vehicle Market Share, By Range, By Volume, 2017-2027F

Figure 83: Europe Electric Commercial Vehicle Market Share, By Country, By Volume, 2017-2027F

Figure 84: Europe Electric Commercial Vehicle Market Map, By Country, Market Size (Units) & Growth Rate (%)

Figure 85: Europe Electric Commercial Vehicle Market Map, By Vehicle Type, Market Size (Units) & Growth Rate (%)

Figure 86: France Electric Commercial Vehicle Market Size, By Volume (Units), 2017-2027F

Figure 87: France Electric Commercial Vehicle Market Size, By Value (USD Million), 2017-2027F

Figure 88: France Electric Commercial Vehicle Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure 89: France Electric Commercial Vehicle Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 90: France Electric Commercial Vehicle Market Share, By Range, By Volume, 2017-2027F

Figure 91: Germany Electric Commercial Vehicle Market Size, By Volume (Units), 2017-2027F

Figure 92: Germany Electric Commercial Vehicle Market Size, By Value (USD Million), 2017-2027F

Figure 93: Germany Electric Commercial Vehicle Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure 94: Germany Electric Commercial Vehicle Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 95: Germany Electric Commercial Vehicle Market Share, By Range, By Volume, 2017-2027F

Figure 96: United Kingdom Electric Commercial Vehicle Market Size, By Volume (Units), 2017-2027F

Figure 97: United Kingdom Electric Commercial Vehicle Market Size, By Value (USD Million), 2017-2027F

Figure 98: United Kingdom Electric Commercial Vehicle Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure 99: United Kingdom Electric Commercial Vehicle Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 100: United Kingdom Electric Commercial Vehicle Market Share, By Range, By Volume, 2017-2027F

Figure 101: Norway Electric Commercial Vehicle Market Size, By Volume (Units), 2017-2027F

Figure 102: Norway Electric Commercial Vehicle Market Size, By Value (USD Million), 2017-2027F

Figure 103: Norway Electric Commercial Vehicle Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure 104: Norway Electric Commercial Vehicle Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 105: Norway Electric Commercial Vehicle Market Share, By Range, By Volume, 2017-2027F

Figure 106: Netherland Electric Commercial Vehicle Market Size, By Volume (Units), 2017-2027F

Figure 107: Netherland Electric Commercial Vehicle Market Size, By Value (USD Million), 2017-2027F

Figure 108: Netherland Electric Commercial Vehicle Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure 109: Netherland Electric Commercial Vehicle Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 110: Netherland Electric Commercial Vehicle Market Share, By Range, By Volume, 2017-2027F

Figure 111: Italy Electric Commercial Vehicle Market Size, By Volume (Units), 2017-2027F

Figure 112: Italy Electric Commercial Vehicle Market Size, By Value (USD Million), 2017-2027F

Figure 113: Italy Electric Commercial Vehicle Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure 114: Italy Electric Commercial Vehicle Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 115: Italy Electric Commercial Vehicle Market Share, By Range, By Volume, 2017-2027F

Figure 116: Spain Electric Commercial Vehicle Market Size, By Volume (Units), 2017-2027F

Figure 117: Spain Electric Commercial Vehicle Market Size, By Value (USD Million), 2017-2027F

Figure 118: Spain Electric Commercial Vehicle Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure 119: Spain Electric Commercial Vehicle Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 120: Spain Electric Commercial Vehicle Market Share, By Range, By Volume, 2017-2027F

Figure 121: Sweden Electric Commercial Vehicle Market Size, By Volume (Units), 2017-2027F

Figure 122: Sweden Electric Commercial Vehicle Market Size, By Value (USD Million), 2017-2027F

Figure 123: Sweden Electric Commercial Vehicle Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure 124: Sweden Electric Commercial Vehicle Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 125: Sweden Electric Commercial Vehicle Market Share, By Range, By Volume, 2017-2027F

Figure 126: South America Electric Commercial Vehicle Market Size, By Volume (Units), 2017-2027F

Figure 127: South America Electric Commercial Vehicle Market Size, By Value (USD Million), 2017-2027F

Figure 128: South America Electric Commercial Vehicle Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure 129: South America Electric Commercial Vehicle Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 130: South America Electric Commercial Vehicle Market Share, By Range, By Volume, 2017-2027F

Figure 131: South America Electric Commercial Vehicle Market Share, By Country, By Volume, 2017-2027F

Figure 132: South America Electric Commercial Vehicle Market Map, By Country, Market Size (Units) & Growth Rate (%)

Figure 133: South America Electric Commercial Vehicle Market Map, By Vehicle Type, Market Size (Units) & Growth Rate (%)

Figure 134: Brazil Electric Commercial Vehicle Market Size, By Volume (Units), 2017-2027F

Figure 135: Brazil Electric Commercial Vehicle Market Size, By Value (USD Million), 2017-2027F

Figure 136: Brazil Electric Commercial Vehicle Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure 137: Brazil Electric Commercial Vehicle Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 138: Brazil Electric Commercial Vehicle Market Share, By Range, By Volume, 2017-2027F

Figure 139: Argentina Electric Commercial Vehicle Market Size, By Volume (Units), 2017-2027F

Figure 140: Argentina Electric Commercial Vehicle Market Size, By Value (USD Million), 2017-2027F

Figure 141: Argentina Electric Commercial Vehicle Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure 142: Argentina Electric Commercial Vehicle Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 143: Argentina Electric Commercial Vehicle Market Share, By Range, By Volume, 2017-2027F

Figure 144: Colombia Electric Commercial Vehicle Market Size, By Volume (Units), 2017-2027F

Figure 145: Colombia Electric Commercial Vehicle Market Size, By Value (USD Million), 2017-2027F

Figure 146: Colombia Electric Commercial Vehicle Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure 147: Colombia Electric Commercial Vehicle Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 148: Colombia Electric Commercial Vehicle Market Share, By Range, By Volume, 2017-2027F

Figure 149: Middle East & Africa Electric Commercial Vehicle Market Size, By Volume (Units), 2017-2027F

Figure 150: Middle East & Africa Electric Commercial Vehicle Market Size, By Value (USD Million), 2017-2027F

Figure 151: Middle East & Africa Electric Commercial Vehicle Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure 152: Middle East & Africa Electric Commercial Vehicle Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 153: Middle East & Africa Electric Commercial Vehicle Market Share, By Range, By Volume, 2017-2027F

Figure 154: Middle East & Africa Electric Commercial Vehicle Market Share, By Country, By Volume, 2017-2027F

Figure 155: Middle East & Africa Electric Commercial Vehicle Market Map, By Country, Market Size (Units) & Growth Rate (%)

Figure 156: Middle East & Africa Electric Commercial Vehicle Market Map, By Vehicle Type, Market Size (Units) & Growth Rate (%)

Figure 157: UAE Electric Commercial Vehicle Market Size, By Volume (Units), 2017-2027F

Figure 158: UAE Electric Commercial Vehicle Market Size, By Value (USD Million), 2017-2027F

Figure 159: UAE Electric Commercial Vehicle Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure 160: UAE Electric Commercial Vehicle Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 161: UAE Electric Commercial Vehicle Market Share, By Range, By Volume, 2017-2027F

Figure 162: Israel Electric Commercial Vehicle Market Size, By Volume (Units), 2017-2027F

Figure 163: Israel Electric Commercial Vehicle Market Size, By Value (USD Million), 2017-2027F

Figure 164: Israel Electric Commercial Vehicle Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure 165: Israel Electric Commercial Vehicle Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 166: Israel Electric Commercial Vehicle Market Share, By Range, By Volume, 2017-2027F

Figure 167: South Africa Electric Commercial Vehicle Market Size, By Volume (Units), 2017-2027F

Figure 168: South Africa Electric Commercial Vehicle Market Size, By Value (USD Million), 2017-2027F

Figure 169: South Africa Electric Commercial Vehicle Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure 170: South Africa Electric Commercial Vehicle Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 171: South Africa Electric Commercial Vehicle Market Share, By Range, By Volume, 2017-2027F

Figure 172: Saudi Arabia Electric Commercial Vehicle Market Size, By Volume (Units), 2017-2027F

Figure 173: Saudi Arabia Electric Commercial Vehicle Market Size, By Value (USD Million), 2017-2027F

Figure 174: Saudi Arabia Electric Commercial Vehicle Market Share, By Propulsion Type, By Volume, 2017-2027F

Figure 175: Saudi Arabia Electric Commercial Vehicle Market Share, By Vehicle Type, By Volume, 2017-2027F

Frequently asked questions

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The global electric commercial vehicle market has estimated to be 1.08 million units in volume in 2021 and the LCV has majority of share around 78% in the global electric commercial vehicle market.

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Based on the propulsion type in 2021 the hybrid electric commercial vehicles hold share around 54% due to rising fuel prices and this trend will continue in upcoming years also.

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The major players in the global electric commercial vehicle market are BYD Auto Co., Ltd., The General Motors Company, Tesla, Inc., SAIC Motor Corp., Ltd., Nikola Motor Co., Rivian Automotive, Inc., Volvo Trucks, Renault–Nissan–Mitsubishi Alliance, Ford Motors Corporation, and Toyota Motor Corporation.

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The rising environmental concern, low maintenance, government initiatives such as incentives at the time of purchasing the vehicle is witnessing immense acceptance in the zero emission vehicles, which is expected to drive the global electric commercial vehicle market during the forecast period.

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Srishti Verma

Business Consultant
Press Release

Electric Commercial Vehicle Market to register a CAGR of 19.43% until 2027

Sep, 2022

Increase in environmental concerns, supportive government policies and regulations regarding EV adoption along with subsidies, decreasing battery prices, and advancement in charging technologies will

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