Global Electric Light Commercial Vehicle Market Report 2021-2030: Rising Demand, Innovation, and Competition Accelerating Future Growth Potential

DUBLIN, Dec. 9, 2021 /PRNewswire/ -- The "Global Electric Light Commercial Vehicle Growth Opportunities" report has been added to ResearchAndMarkets.com's offering.

This report provides an overview of the electric light commercial vehicle (e-LCV) market in North America, Europe, China, and Asia-Pacific, presenting growth opportunities, comparisons between select models, sales percentage forecasts, and total cost of ownership (TCO) analysis.

The e-LCV market across these regions is expected to reach 5.6 million units by 2030. Similarly, e-LCV penetration is forecast to be the highest in Europe at 40% followed by China at 35% by 2030. Battery electric vehicles (BEV) are anticipated to dominate the overall electric market with a small fraction belonging to fuel cell electric vehicles, while plug-in hybrid electric vehicles are likely to be phased out by 2030.

China and North America are expected to contribute 69.6% to global e-LCV volumes collectively by 2030. Europe's contribution is estimated to drop to 23.8% as North America overtakes Europe through aggressive volume growth. In the light commercial vehicle segment, North America and Europe show electrification potential for heavier vehicles (more than 3.5 tons) whereas China and Asia-Pacific lean toward lighter vehicles (less than 3.5 tons).

In North America, light commercial vehicles have higher daily mileage and are heavier and costlier. As such, e-LCVs in North America are expected to have significantly higher power output and battery capacity than those in other regions.

Although e-LCVs in Europe are slightly heavier and priced higher, Europe, China, and Asia-Pacific share common vehicle specifications in terms of battery capacity, range, and power requirements. In terms of applications, the overall market's primary focus is on parcel and delivery services.

European manufacturers cover a broader range of applications with their existing e-LCVs, while their counterparts in North America plan to deploy vehicle electrification in slightly heavier applications, such as construction. Established original equipment manufacturers face increasing competition from new entrants that are pure play electric vehicle makers in specific applications.

BEVs provide greater TCO advantage in high mileage applications, achieving TCO parity faster with diesel-based vehicles than in low mileage applications.

Moving forward, the TCO advantage is anticipated to drive BEV adoption and capture the market share predominantly held by diesel powertrain. Lower acquisition costs due to declining prices of key electric vehicle components will further accelerate BEV adoption.

Key Topics Covered:

1. Growth Environment

• Key Findings
• e-LCV Penetration Forecast
• e-LCV Market - Regional Contribution
• Growth of e-LCV Adoption
• Electrification Potential by Body Type
• e-LCV Regional Focus - Select OEMs

2. Strategic Imperatives

• Why Is It Increasingly Difficult to Grow?
• The Strategic Imperative 
• The Impact of the Top Three Strategic Imperatives on the e-LCV Industry
• Growth Opportunities Fuel the Growth Pipeline Engine

3. Growth Opportunity Analysis

• Scope of Analysis
• Market Segmentation

4. Electrification in LCVs

• e-LCV Ecosystem
• Growth Drivers and Restraints
• e-LCV Service Roadmap
• e-LCV Technology Roadmap
• Battery Chemistry - Technology Roadmap
• Existing Battery Chemistry
• Battery Chemistry Suppliers - OEM Mapping
• Electric Motor Types
• Electric Motor Placement
• e-LCV Regional Benchmarking - Average Battery Capacity
• e-LCV Regional Benchmarking - Average Range and Average Power
• e-LCV Regional Benchmarking - Average GVWR and Average Price
• Electrification Use Cases for e-LCVs
• e-LCV Application Focus - Established OEMs
• e-LCV Application Focus - Start-ups

5. Growth Opportunity Analysis, NA

• EV Incentives
• LCV Total Sales and Market Share of Major Participants
• Sales Percentage by Powertrain Split
• Anticipated e-LCV Launches
• Select e-LCV Models - Specification Comparison
• Select e-LCV Models - Price Range
• LCV Total Sales and EV Penetration Forecast
• LCV Total Sales and EV Penetration Forecast Discussion
• Sales Percentage Forecast by Powertrain

6. Growth Opportunity Analysis, Europe

• EV Incentives
• LCV Total Sales and Market Share of Major Participants
• Sales Percentage by Powertrain Split
• Existing and Anticipated e-LCV Models
• Select e-LCV Models - Specification Comparison
• Select e-LCV Models - Price Range
• LCV Total Sales and EV Penetration Forecast
• LCV Total Sales and EV Penetration Forecast Discussion
• Sales Percentage Forecast by Powertrain

7. Growth Opportunity Analysis, China

• EV Incentives
• LCV Total Sales and Market Share of Major Participants
• Sales Percentage by Powertrain Split
• Existing e-LCV Models
• e-LCV Models - Specification Comparison
• e-LCV Models - Price Range
• LCV Total Sales and EV Penetration Forecast
• LCV Total Sales and EV Penetration Forecast Discussion
• Sales Percentage Forecast by Powertrain

8. Growth Opportunity Analysis, APAC

• EV Incentives
• LCV Total Sales and Market Share of Major Participants
• Sales Percentage by Powertrain Split
• Existing e-LCV Models
• e-LCV Models - Specification Comparison
• e-LCV Models - Price Range
• LCV Total Sales and EV Penetration Forecast
• LCV Total Sales and EV Penetration Forecast Discussion
• Sales Percentage Forecast by Powertrain

9. TCO Analysis, Europe

• TCO Analysis, Europe - Assumptions
• TCO Analysis, Europe - Low Mileage
• TCO Analysis, Europe - Medium Mileage
• TCO Analysis, Europe - High Mileage

10. Growth Opportunity Universe

• Growth Opportunity 1 - Commonality in Product Requirements Across Europe, China, and APAC Decreases Costs
• Growth Opportunity 2 - Low Barriers to Entry for New Participants in the e-LCV Space
• Growth Opportunity 3 - Rising Electrification Potential in Previously Unattractive Heavy-duty Applications

11. Appendix

For more information about this report visit https://www.researchandmarkets.com/r/16qzym

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