The global electric commercial vehicle market is estimated to be 125,212 Units in 2017 and is projected to grow at a CAGR of 39.85% to reach 1,831,865 Units by the end of 2025.
Need for fuel-efficient and emission free-vehicle and the available government subsidies and tax rebates to fuel the growth of the electric commercial vehicle market
Policies and mandates to curb urban pollution menace and the subsequent demand of emission-free vehicle and the increasing demand for electrified vans and trucks from the logistics industry are the driving factors for the electric commercial vehicle market. Whereas, the less number of charging stations and high cost involved in the initial development of electric commercial vehicle are restraining factors for the electric commercial vehicle market. Government funds and incentive programs to encourage adoption of electric commercial vehicles such as public buses and electric trucks will be creating opportunities in upcoming years. On the other hand, factors such as limited
battery power, longer charging duration, and more environment friendly fuel products are creating challenges for electric commercial vehicle market.
Electric bus to remain predominant during the forecast period
Electric bus is estimated to hold the largest volume share of the global electric commercial vehicle market in 2017. This segment is estimated to grow with a significant CAGR and is expected to remain the largest market, in terms of volume, during the forecast period. The growth of this segment is driven by government regulations and mandates to adopt and implement electric buses in emerging economies like India and China as well as in developed economies such as France, Sweden, and The Netherlands.
Asia Pacific to lead the electric commercial vehicle market during the forecast period
The Asia Pacific region is estimated to hold the largest volume share of global electric commercial vehicle market in year 2017. The segment is estimated to grow with a significant CAGR in the forecast period. The high adoption of electric buses to curb pollution and the subsequent increase in sales of electric commercial vehicles such as buses are expected to fuel electric commercial vehicle market in the Asia Pacific region.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights 4.1 Attractive Opportunities In the Electric Commercial Vehicle Market 4.2 Electric Commercial Vehicle Market Share, By Region, 2017 vs 2025 4.3 Electric Commercial Vehicle Market, By Vehicle Type 4.4 Electric Commercial Vehicle Market, By Propulsion Type 4.5 Electric Commercial Vehicle Market, By Range 4.6 Electric Commercial Vehicle Market Share, By Component
5 Market Overview 5.1 Introduction 5.2 Market Dynamics 5.2.1 Drivers 22.214.171.124 Adoption of Electrification By Logistics Industry 126.96.36.199 Need for Fuel-Efficient and Emission-Free Vehicles 188.8.131.52 Reducing Battery Prices 5.2.2 Restraints 184.108.40.206 Few Supportive Charging Stations Across the Globe 220.127.116.11 High Development Costs 18.104.22.168 Ongoing IC Engine Developments 5.2.3 Opportunities 22.214.171.124 Government Support for Electric Commercial Vehicles 126.96.36.199 New Revenue Pockets In Asia Pacific & Northern Europe 5.2.4 Challenges 188.8.131.52 Oil Companies Can Pose A Challenge to the Growth of ECVS 184.108.40.206 Limited Battery Power & Longer Charging Durations 5.3 Macro Indicators Analysis 5.3.1 US 5.3.2 China 5.3.3 Japan 5.4 Upcoming Models
6 Electrical Commercial Vehicle Market, By Propulsion 6.1 Introduction 6.2 Battery Electric Vehicle (BEV) 6.3 Hybrid Electric Vehicle (HEV) 6.4 Plug-In Hybrid Electric Vehcile (PHEV) 6.5 Fuel Cell Electric Vehicle (FCEV)
7 Electrical Commercial Vehicle Market, By Vehicle Type 7.1 Introduction 7.2 Bus 7.3 Trucks 7.4 Pick-Up Trucks 7.5 Van
8 Electric Commercial Vehicle Market, By Range 8.1 Introduction 8.2 0-150 Miles 8.3 151-250 Miles 8.4 251-500 Miles 8.5 500 Miles & Above
9 Electric Commercial Vehicle Market, By Component 9.1 Introduction 9.2 Electric Motor 9.3 EV Battery 9.4 Hydrogen Fuel Cell
10 Electric Commercial Vehicle Market, By Region 10.1 Introduction 10.2 North America 10.2.1 US 10.2.2 Canada 10.2.3 Mexico 10.3 Europe 10.3.1 Germany 10.3.2 France 10.3.3 UK 10.3.4 Netherlands 10.3.5 Sweden 10.4 Asia Pacific 10.4.1 China 10.4.2 Japan 10.4.3 India 10.4.4 South Korea 10.5 RoW 10.5.1 Brazil 10.5.2 Russia
11 Electrical Commercial Vehicle Market, By Autonomous Vehicles 11.1 Introduction 11.2 Electric Autonomous Truck 11.3 Electric Autonomous Bus
12 Electric Commercial Vehicle Market, By Charging Infrastructure Type 12.1 Introduction 12.2 Pantograph 12.3 Plug-In 12.4 Inductive