Electric Commercial Vehicle Market Size Is Forecasted to Be Worth USD 339.78 Billion by 2027

The Global Electric Commercial Vehicle Market size is forecasted to be worth USD 339.78 Billion by 2027, according to a current analysis by Emergen Research.

Governments all over the world are investing heavily in the electric vehicle charging infrastructure to provide lucrative opportunities for the OEMs to expand their business as well as revenue. However, the growing cost required in the initial overhaul, investment, and maintenance is hampering the electric commercial vehicle market’s development.

The development of smart cities is expected to offer lucrative opportunities for the key players in the market of Electric Commercial Vehicle controller. The demand for advanced irrigation systems in countries with severe weather conditions is most likely to propel the industry’s growth.

Key participants include Yutong, BYD, VDL Groep, Proterra, AB Volvo, NFI Group, Daimler AG, King Long, Ebusco B.V., and Ankai, among others.

The comprehensive analysis of the Electric Commercial Vehicle industry offers the businesses insightful data to assist them in capitalizing on the lucrative growth opportunities in the Electric Commercial Vehicle industry. The report also sheds light on the lucrative growth prospects for the leading companies in the Electric Commercial Vehicle industry during the forecast period.

Electric commercial vehicles may be beneficial in reducing the carbon footprints on the environment as they produce fewer emissions that are accountable for climate change and smog as compared to conventional vehicles.

The report further sheds light on strategic initiatives and business expansion plans undertaken by the key companies operating in the Electric Commercial Vehicle industry. The report assesses the strategies such as mergers and acquisitions, government and corporate deals, partnerships and collaborations, joint ventures, brand promotions, and product launches, among others.

For the purpose of this report, Emergen Research has segmented into the global Electric Commercial Vehicle Market on the basis of component, propulsion type, vehicle type, battery type, range, end-user, and region:

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

Propulsion Type Outlook (Revenue, USD Billion; 2017-2027)

Vehicle Type Outlook (Revenue, USD Billion; 2017-2027)
Electric Bus
Electric Truck (Medium and Heavy Duty Trucks)
Electric Pick-up Truck
Electric Van

Battery Type Outlook (Revenue, USD Billion; 2017-2027)
Lithium-iron-phosphate (LFP)
Lithium-nickel-manganese-cobalt oxide (NMC)

Range Outlook (Revenue, USD Billion; 2017-2027)
less than 150 Miles
150-300 Miles
Above 300 Miles

Major Geographies Analyzed in the Report:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

The Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Additionally, the report also offers an extensive analysis of the key elements that influence the growth of the market, such as drivers, constraints, opportunities, limitations, threats, and micro and macro-economic factors. It also offers exhaustive SWOT analysis, Porter’s Five Forces analysis, feasibility analysis, and investment return analysis. It also offers strategic recommendations to the new entrants on how to overcome the entry-level barriers. Strategic recommendations for the established players assists them to fortify their position in the market.

North America accounted for a significant market share of the Electric Commercial Vehicle Market in 2019. The market is projected to see substantial growth owing to its huge implementation in various areas verticals, especially in the North American region.

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About Emergen Research

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy.

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