Electric Commercial Vehicle Market Trend, Forecast, Drivers, Restraints, Company Profiles and Key Players Analysis by 2027
The global Electric Commercial Vehicle Market is forecasted to be worth USD 339.78 Billion by 2027, according to a current analysis by Emergen Research. The current developments in the technology of electric vehicles have provided an opportunity for its growth to revolutionize the commercial transportation sector. The electric commercial vehicles are projected to approach cost-competitiveness with conventional vehicles, owing to the reduction in battery costs and increased production volumes during the forecast years.
The latest research report is dubbed as the first document encompassing the latest information about the Electric Commercial Vehicle market that has been gravely affected by the COVID-19 pandemic. The global health crisis poses significant threats to the future growth of the Electric Commercial Vehicle industry. The report assesses the profound changes in this business setting caused by the outbreak and considers the prominent market aspects that have been severely disrupted by the pandemic. The report thus expounds on the rapidly changing market scenario in this COVID-19 era, which aims to help businesses involved in this sector overcome the pandemic’s gripping effects and formulate new growth strategies to boost the COVID-19 preparedness.
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Some Key Highlights from the Report :
- There is a growing demand for Electric Vehicle Battery systems and emission control systems due to the growing concern regarding the increasing pollution levels and the adverse effects of climate change. Hybrid systems of standard motors and Electric Vehicle Batteries are used by most hybrid vehicles.
- Battery electric vehicles (BEV) store electricity onboard with high-capacity battery packs. BEVs do not release any harmful emissions caused by traditional gasoline-powered vehicles. Battery Electric Vehicles are charged by electricity from an external source.
- The government is focusing on introducing an electric vehicle for public transportation. Several cities are running a fleet of electric buses to reduce the pollution level, and these vehicles also provide tremor free transportation, which improves customer satisfaction.
Key participants include : Yutong, BYD, VDL Groep, Proterra, AB Volvo, NFI Group, Daimler AG, King Long, Ebusco B.V., and Ankai, among others.
Global Electric Commercial Vehicle Market Highlights:
- Regional demand estimation and forecast
- Product Mix Matrix
- R&D Analysis
- Cost-Benefit Analysis
- Pre-commodity pricing volatility
- Supply chain optimization analysis
- Technological updates analysis
- Raw Material Sourcing Strategy
- Competitive Analysis
- Mergers & Acquisitions
- Location Quotients Analysis
- Carbon Footprint Analysis
- Patent Analysis
- Vendor Management
The latest study provides an insightful analysis of the broad competitive landscape of the global Electric Commercial Vehicle market, emphasizing the key market rivals and their company profiles. A wide array of strategic initiatives, such as new business deals, mergers & acquisitions, collaborations, joint ventures, technological upgradation, and recent product launches, undertaken by these companies has been discussed in the report. The report analyzes various elements of the market’s competitive scenario, such as the regulatory standards and policies implemented across the industry over recent years. Our team of experts has leveraged several powerful analytical tools, such as Porter’s Five Forces analysis and SWOT analysis, to deliver a comprehensive overview of the global Electric Commercial Vehicle market and pinpoint the fundamental growth trends.
Key Parameters Analyzed in This Section:
- Company Profiles
- Gross Revenue
- Profit margins
- Product sales trends
- Product pricing
- Industry Analysis
- Sales & distribution channels
- North America
- Latin America
- Middle East & Africa
- Asia Pacific
Key Points Covered in This Section:
- Regional contribution
- Estimated revenue generation
- Vital data and information about the consumption rate in all the leading regional segments
- An expected rise in market share
- Forecast growth in the overall consumption rate
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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
End-User Outlook (Revenue, USD Billion; 2017-2027)
- Last-Mile Delivery
- Distribution Service
- Field Service
- Refuse Service
- Long Haul Transportation
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Saudi Arabia
- Rest of MEA
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- Besides offering a vivid depiction of the global Electric Commercial Vehicle business sphere and its fundamental operations, the latest report provides the industrial chain analysis and list down the current and future market trends and growth opportunities.
- The report includes information on the present and historical market scenarios, which helps forecast the market conditions over the next eight years (2020-2027).
- The report scrutinizes the salient factors influencing the growth of the market in the near future.
- The strategic marketing recommendations, crucial information related to the new market entrants, and expansion plans of various businesses are poised to provide the reader with a competitive edge in the market.
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