Electric Vehicles Market | Market 2019-2023: Share Forecasts, Regional Trends & Growth drivers

Posted September 11, 2019 by automotive

The Electric Commercial Vehicle market is expected to progress with the substantial CAGR during the period, 2019 to 2023
The Electric Commercial Vehicle market is expected to progress with the substantial CAGR during the period, 2019 to 2023.Global Electric Commercial Vehicle Market Research Report Segmentation Analysis by Vehicle Type (Bus, Truck, Others), Component (Electric Motor, Electric Vehicle Battery, Hydrogen Fuel Cell, Others), Propulsion (BEV, HEV, PHEV, FCEV), Range and Region – Forecast Till 2023.

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The prominent players in the global electric commercial vehicle market include Tesla (US), Nissan (Japan), BYD (China), Daimler (Germany), Proterra (US), LG Chem (South Korea), Zhongtong Bus Holding Co., Ltd (China) and Panasonic (Japan). Delphi (US), ABB (Switzerland), Continental (Germany), Siemens (Germany), Mitsubishi Electric (Japan), Toshiba (Japan), Ballard Power Systems (Canada), are among others.

Market Highlights

Governments are promoting the use of energy-efficient and less fossil dependent road transport system. Countries are planning to ban the production of fossil fuel powered vehicles. Norway and Netherlands considering the ban before 2025, along with India and Germany to impose similar bans in 2030. Continuous rise in awareness about use of renewable transportation options; hence the shift from diesel to electric is likely to be happen faster. In recent time organizations are developing vehicles capable to operate on renewable sources within the spectrum of green transport. Efforts for technological improvements and innovation in transport have been intensified and fleets of vehicles using renewable sources is the new trend for public authorities, non-profit organizations and many private companies promoting sustainable development. Demand of electric commercial vehicle such as electric truck in the logistics industry to curtail fuel expenses is already on its peak. Companies are working to increase EV battery capacity and enable electric commercial vehicle to transport substantial loads over longer range. Increasing demand of emission-free vehicle is expected to fuel the market growth. However, limited battery power and longer charging duration are expected to limit the electric commercial vehicle market growth.

Electric Commercial Vehicle Market Segmentation:

Global electric commercial vehicle market is segmented on the basis of vehicle type, propulsion, components, range, and region. Vehicle type segment is divided into bus, trucks and others.

On the basis of component, the market has been segmented into electric motor, EV battery, hydrogen fuel cell, and others.

Propulsion segment is further classified as, battery electric vehicle, hybrid electric vehicle, plug in hybrid electric vehicle, and fuel cell electric vehicle.

Range segment is divided as 0-150 miles, 151-250 miles, 251-500 miles, and above 500 miles.

By Propulsion

Battery Electric Vehicle (BEV)
Hybrid Electric Vehicle (HEV)
Plug in Hybrid Electric Vehicle (PHEV)
Fuel cell Electric Vehicle (FCEV)
Regional Analysis of Electric Commercial Vehicle Market:

Geographically, the global electric commercial vehicle market has been segmented into the four major regions of North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific is expected to lead the market growth during the forecast period. China has world’s worst pollution problem and to deal with that they are electrifying their fleets by imposing government mandates to curb out urban pollution by using emission-free vehicles. Moreover, generous subsidies and tight regulations are the primary reasons behind china’s dominating positions in commercial electric vehicle market. Furthermore, increasing activities to create awareness about the benefit associated with electric commercial vehicle by governments all over the Asia-Pacific region are expected to drive the market during forecast period.

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Scope of the Report

This study provides an overview of the global electric commercial vehicle market, tracking four market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia-Pacific, and the Rest of the World. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global electric commercial vehicle market by vehicle type, propulsion, range, component, and regions.

Table Of Contents

1. Executive Summary

2. Scope Of The Report

2.1. Market Definition

2.2. Scope Of The Study

2.2.1. Definition

2.2.2. Research Objective

2.2.3. Assumptions

2.2.4. Limitations

2.3. Research Process

2.3.1. Primary Research

2.3.2. Secondary Research

2.4. Market Size Estimation

2.5. Forecast Model

3. Market Landscape

3.1. Porter’s Five Forces Analysis

3.1.1. Threat Of New Entrants

3.1.2. Bargaining Power Of Buyers

3.1.3. Threat Of Substitutes

3.1.4. Segment Rivalry

3.1.5. Bargaining Power Of Buyers

3.2. Value Chain/Supply Chain Analysis

3.3. Technology Trends

3.4. Patent Trends

3.5. Regulatory Landscape

4. Market Dynamics

4.1. Introduction

4.2. Market Drivers

4.3. Market Restraints

4.4. Market Opportunities

5. Global Electric Commercial Vehicle Market, By Vehicle Type

5.1. Introduction

5.2. Bus

5.2.1. Market Estimates & Forecast, 2018–2023

5.2.2. Market Estimates & Forecast By Region, 2018–2023

5.3. Trucks

5.3.1. Market Estimates & Forecast, 2018–2023

5.3.2. Market Estimates & Forecast By Region, 2018–2023

5.4. Others

5.4.1. Market Estimates & Forecast, 2018–2023

5.4.2. Market Estimates & Forecast By Region, 2018–2023.


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Issued By MRFR
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Categories Advertising , Automotive , Business
Tags electric commercial vehicle market
Last Updated September 11, 2019