Electric commercial vehicle Market Research Report Information by Propulsion (BEV, PHEV, FCEV) By Component (Electric Motor, Electric Vehicle Battery, Hydrogen Fuel Cell, Others) By Vehicle Type (Bus, Truck, Others), And by Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America) –Forecast Till 2030
Market Overview
The global electric commercial vehicle market industry is expected to increase at a compound annual growth rate (CAGR) of 20.87% over the forecast period.
Several factors are predicted to drive considerable growth in the electric commercial vehicle market throughout the forecast period. Key factors driving the growth of the Electric Commercial Vehicle Market are government initiatives to encourage the adoption of electric commercial vehicles and low operating costs. However, obstacles such as inadequate charging infrastructure, poor aftermarket services, and high battery prices and capacity are projected to hinder market growth. On the other hand, increased logistical activity and demand within fleets present attractive potential for the global industry.
Governments and state governments in several nations are launching programs to raise awareness about the use of electric commercial vehicles in order to reduce the negative impact on the environment and foreign exchange reserves. For example, the International Council on Clean Transportation is collaborating on Zero Emission Vehicle regulations, progressive electric utility policies, increased model availability and marketing, consumer rebates, access to carpool lanes on congested highways, extensive electric vehicle charging infrastructure, access to high-occupancy vehicle lanes, and continued growth of local electric vehicle promotions. This is because crude oil prices are steadily growing.
Market Segment insights
The Electric Commercial Vehicle Market is segmented by propulsion, including BEV, PHEV, and FCEV.
The market is segmented by component, which include electric motors, electric vehicle batteries, hydrogen fuel cells, and others.
The Electric commercial vehicle Market is segmented by vehicle type, which includes buses, trucks, and others.
Regional insights
In terms of revenue, Asia Pacific had the highest share of the Electric commercial vehicle market in 2022, accounting for 55.8%, and is likely to keep that position throughout the forecast period. Asia-Pacific is the greatest market for electric commercial vehicles. The Asia-Pacific electric commercial vehicle market is also rapidly expanding, driven by a combination of government efforts, environmental restrictions, and rising demand for sustainable transportation options. Electric commercial vehicles include trucks, buses, and vans that run on electricity rather than traditional fossil fuels such as diesel or gasoline. China is now the Asia Pacific region's largest market for electric commercial vehicles, with the government supporting their adoption as part of its efforts to reduce air pollution and carbon emissions.
In North America, the market for electric commercial vehicles (ECVs) is rapidly developing as corporations and governments attempt to reduce emissions and improve transportation sustainability. ECVs encompass a variety of vehicle types, including delivery trucks, vans, buses, and other fleet vehicles. Over the last few years, there has been an increase in the number of electric commercial cars entering the North American market. For example, in December 2022, Tesla introduced its Semi electric truck, which is specifically geared for long-distance transportation. Furthermore, numerous other businesses, like Rivian, Bollinger Motors, and Workhorse, have produced electric delivery trucks. Aside from these new entrants, major commercial vehicle manufacturers are investing heavily in electric vehicle technologies.
Major companies in the global market include AB Volvo, Tesla, Daimler AG, PACCAR Inc., BYD Company Limited, EBUSCO, ANHUI ANKAI AUTOMOBILE CO., LTD, YUTONG, NFI GROUP INC., SCANIA, VDL, CAF, KING LONG, RENAULT TRUCKS, and Proterra.
圖表清單 List of Tables & Figures
LIST OF TABLES
TABLE 1 LIST OF ASSUMPTIONS 28
TABLE 2 GLOBAL ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY PROPULSION, 2018-2030 (USD MILLION) 42
TABLE 3 GLOBAL ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY COMPONENT, 2018-2030 (USD MILLION) 45
TABLE 4 GLOBAL ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY VEHICLE TYPE, 2018-2030 (USD MILLION) 48
TABLE 5 GLOBAL ELECTRIC COMMERCIAL VEHICLE MARKET SIZE, BY REGION, 2018-2030 (USD MILLION) 51
TABLE 6 NORTH AMERICA: ELECTRIC COMMERCIAL VEHICLE MARKET SIZE, BY COUNTRY, 2018-2030 (USD MILLION) 52
TABLE 7 NORTH AMERICA ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY PROPULSION,
2018-2030 (USD MILLION) 53
TABLE 8 NORTH AMERICA ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY COMPONENT,
2018-2030 (USD MILLION) 53
TABLE 9 NORTH AMERICA ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY VEHICLE TYPE,
2018-2030 (USD MILLION) 53
TABLE 10 US ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY PROPULSION, 2018-2030 (USD MILLION) 54
TABLE 11 US ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY COMPONENT, 2018-2030 (USD MILLION) 54
TABLE 12 US ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY VEHICLE TYPE, 2018-2030 (USD MILLION) 54
TABLE 13 CANADA ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY PROPULSION, 2018-2030 (USD MILLION) 55
TABLE 14 CANADA ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY COMPONENT, 2018-2030 (USD MILLION) 55
TABLE 15 CANADA ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY VEHICLE TYPE, 2018-2030 (USD MILLION) 55
TABLE 16 MEXICO ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY PROPULSION, 2018-2030 (USD MILLION) 56
TABLE 17 MEXICO ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY COMPONENT, 2018-2030 (USD MILLION) 56
TABLE 18 MEXICO ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY VEHICLE TYPE, 2018-2030 (USD MILLION) 56
TABLE 19 EUROPE: ELECTRIC COMMERCIAL VEHICLE MARKET SIZE, BY COUNTRY, 2018-2030 (USD MILLION) 58
TABLE 20 EUROPE ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY PROPULSION, 2018-2030 (USD MILLION) 58
TABLE 21 EUROPE ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY COMPONENT, 2018-2030 (USD MILLION) 58
TABLE 22 EUROPE ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY VEHICLE TYPE, 2018-2030 (USD MILLION) 59
TABLE 23 GERMANY ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY PROPULSION, 2018-2030 (USD MILLION) 59
TABLE 24 GERMANY ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY COMPONENT, 2018-2030 (USD MILLION) 59
TABLE 25 GERMANY ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY VEHICLE TYPE, 2018-2030 (USD MILLION) 60
TABLE 26 UK ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY PROPULSION, 2018-2030 (USD MILLION) 60
TABLE 27 UK ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY COMPONENT, 2018-2030 (USD MILLION) 60
TABLE 28 UK ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY VEHICLE TYPE, 2018-2030 (USD MILLION) 61
TABLE 29 FRANCE ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY PROPULSION, 2018-2030 (USD MILLION) 61
TABLE 30 FRANCE ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY COMPONENT, 2018-2030 (USD MILLION) 61
TABLE 31 FRANCE ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY VEHICLE TYPE, 2018-2030 (USD MILLION) 62
TABLE 32 ITALY ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY PROPULSION, 2018-2030 (USD MILLION) 62
TABLE 33 ITALY ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY COMPONENT, 2018-2030 (USD MILLION) 62
TABLE 34 ITALY ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY VEHICLE TYPE, 2018-2030 (USD MILLION) 63
TABLE 35 REST OF EUROPE ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY PROPULSION,
2018-2030 (USD MILLION) 63
TABLE 36 REST OF EUROPE ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY COMPONENT,
2018-2030 (USD MILLION) 63
TABLE 37 REST OF EUROPE ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY VEHICLE TYPE,
2018-2030 (USD MILLION) 64
TABLE 38 ASIA-PACIFIC: ELECTRIC COMMERCIAL VEHICLE MARKET SIZE, BY COUNTRY, 2018-2030 (USD MILLION) 66
TABLE 39 ASIA-PACIFIC ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY PROPULSION, 2018-2030 (USD MILLION) 66
TABLE 40 ASIA-PACIFIC ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY COMPONENT, 2018-2030 (USD MILLION) 66
TABLE 41 ASIA-PACIFIC ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY VEHICLE TYPE, 2018-2030 (USD MILLION) 67
TABLE 42 CHINA ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY PROPULSION, 2018-2030 (USD MILLION) 67
TABLE 43 CHINA ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY COMPONENT, 2018-2030 (USD MILLION) 67
TABLE 44 CHINA ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY VEHICLE TYPE, 2018-2030 (USD MILLION) 68
TABLE 45 JAPAN ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY PROPULSION, 2018-2030 (USD MILLION) 68
TABLE 46 JAPAN ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY COMPONENT, 2018-2030 (USD MILLION) 68
TABLE 47 JAPAN ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY VEHICLE TYPE, 2018-2030 (USD MILLION) 69
TABLE 48 INDIA ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY PROPULSION, 2018-2030 (USD MILLION) 69
TABLE 49 INDIA ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY COMPONENT, 2018-2030 (USD MILLION) 69
TABLE 50 INDIA ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY VEHICLE TYPE, 2018-2030 (USD MILLION) 70
TABLE 51 REST OF ASIA-PACIFIC ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY PROPULSION,
2018-2030 (USD MILLION) 70
TABLE 52 REST OF ASIA-PACIFIC ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY COMPONENT,
2018-2030 (USD MILLION) 70
TABLE 53 REST OF ASIA-PACIFIC ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY VEHICLE TYPE,
2018-2030 (USD MILLION) 71
TABLE 54 REST OF WORLD: ELECTRIC COMMERCIAL VEHICLE MARKET SIZE, BY REGION, 2018-2030 (USD MILLION) 72
TABLE 55 REST OF WORLD ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY PROPULSION,
2018-2030 (USD MILLION) 73
TABLE 56 REST OF WORLD ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY COMPONENT,
2018-2030 (USD MILLION) 73
TABLE 57 REST OF WORLD ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY VEHICLE TYPE,
2018-2030 (USD MILLION) 73
TABLE 58 MIDDLE EAST & AFRICA ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY PROPULSION,
2018-2030 (USD MILLION) 74
TABLE 59 MIDDLE EAST & AFRICA ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY COMPONENT,
2018-2030 (USD MILLION) 74
TABLE 60 MIDDLE EAST & AFRICA ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY VEHICLE TYPE,
2018-2030 (USD MILLION) 74
TABLE 61 SOUTH AMERICA ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY PROPULSION,
2018-2030 (USD MILLION) 75
TABLE 62 SOUTH AMERICA ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY COMPONENT,
2018-2030 (USD MILLION) 75
TABLE 63 SOUTH AMERICA ELECTRIC COMMERCIAL VEHICLE MARKET ESTIMATES & FORECAST, BY VEHICLE TYPE,
2018-2030 (USD MILLION) 75
TABLE 64 KEY DEVELOPMENTS: CONTRACTS & AGREEMENTS 78
TABLE 65 KEY DEVELOPMENTS: PARTNERSHIPS & COLLABORATIONS 80
TABLE 66 KEY DEVELOPMENTS: EXPANSIONS 80
TABLE 67 KEY DEVELOPMENTS: PRODUCT DEVELOPMENTS/LAUNCHES 81
TABLE 68 KEY DEVELOPMENTS: ACQUISITION 82
TABLE 69 AB VOLVO: PRODUCTS OFFERED 85
TABLE 70 AB VOLVO: KEY DEVELOPMENTS 85
TABLE 71 TESLA: PRODUCTS OFFERED 88
TABLE 72 TESLA: KEY DEVELOPMENTS 89
TABLE 73 DAIMLER TRUCK AG: PRODUCTS OFFERED 92
TABLE 74 DAIMLER TRUCK AG: KEY DEVELOPMENTS 93
TABLE 75 PACCAR INC.: PRODUCTS OFFERED 97
TABLE 76 PACCAR INC.: KEY DEVELOPMENTS 97
TABLE 77 BYD COMPANY LIMITED: PRODUCTS OFFERED 100
TABLE 78 BYD COMPANY LIMITED: KEY DEVELOPMENTS 101
TABLE 79 PROTERRA: PRODUCTS OFFERED 104
TABLE 80 PROTERRA: KEY DEVELOPMENTS 105
TABLE 81 EBUSCO: PRODUCTS OFFERED 108
TABLE 82 EBUSCO: KEY DEVELOPMENTS 109
TABLE 83 ANHUI ANKAI AUTOMOBILE CO., LTD.: PRODUCTS OFFERED 112
TABLE 84 ANHUI ANKAI AUTOMOBILE CO., LTD.: KEY DEVELOPMENTS 112
TABLE 85 YUTONG: PRODUCTS OFFERED 115
TABLE 86 YUTONG: KEY DEVELOPMENTS 115
TABLE 87 NFI GROUP INC.: PRODUCTS OFFERED 119
TABLE 88 NFI GROUP INC.: KEY DEVELOPMENTS 119
TABLE 89 SCANIA: PRODUCTS OFFERED 122
TABLE 90 SCANIA: KEY DEVELOPMENTS 123
TABLE 91 VDL: PRODUCTS OFFERED 125
TABLE 92 VDL: KEY DEVELOPMENTS 126
TABLE 93 CAF: PRODUCTS OFFERED 128
TABLE 94 CAF: KEY DEVELOPMENTS 129
TABLE 95 KING LONG: PRODUCTS OFFERED 130
TABLE 96 KING LONG: KEY DEVELOPMENTS 131
TABLE 97 RENAULT TRUCKS: PRODUCTS OFFERED 132
TABLE 98 RENAULT TRUCKS: KEY DEVELOPMENTS 133
LIST OF FIGURES
FIGURE 1 MARKET SYNOPSIS 16
FIGURE 2 GLOBAL ELECTRIC COMMERCIAL VEHICLE MARKET ANALYSIS, BY PROPULSION, 2022 (%) 17
FIGURE 3 GLOBAL ELECTRIC COMMERCIAL VEHICLE MARKET ANALYSIS, BY COMPONENT, 2022 (%) 18
FIGURE 4 GLOBAL ELECTRIC COMMERCIAL VEHICLE MARKET ANALYSIS, BY VEHICLE TYPE, 2022 (%) 19
FIGURE 5 GLOBAL ELECTRIC COMMERCIAL VEHICLE MARKET ANALYSIS, BY REGION, 2022 (%) 20
FIGURE 6 GLOBAL ELECTRIC COMMERCIAL VEHICLE MARKET: STRUCTURE 22
FIGURE 7 RESEARCH PROCESS 23
FIGURE 8 TOP-DOWN & BOTTOM-UP APPROACHES 26
FIGURE 9 MARKET DYNAMICS OVERVIEW 29
FIGURE 10 DRIVERS IMPACT ANALYSIS: GLOBAL ELECTRIC COMMERCIAL VEHICLE MARKET 31
FIGURE 11 RESTRAINT IMPACT ANALYSIS: GLOBAL ELECTRIC COMMERCIAL VEHICLE MARKET 32
FIGURE 12 SUPPLY CHAIN: GLOBAL ELECTRIC COMMERCIAL VEHICLE MARKET 37
FIGURE 13 PORTER'S FIVE FORCES ANALYSIS OF THE ELECTRIC COMMERCIAL VEHICLE MARKET 39
FIGURE 14 GLOBAL ELECTRIC COMMERCIAL VEHICLE MARKET, BY PROPULSION, 2022 (% SHARE) 41
FIGURE 15 GLOBAL ELECTRIC COMMERCIAL VEHICLE MARKET, BY PROPULSION, 2018 TO 2030 (USD MILLION) 41
FIGURE 16 GLOBAL ELECTRIC COMMERCIAL VEHICLE MARKET, BY COMPONENT, 2022 (% SHARE) 44
FIGURE 17 GLOBAL ELECTRIC COMMERCIAL VEHICLE MARKET, BY COMPONENT, 2018 TO 2030 (USD MILLION) 44
FIGURE 18 GLOBAL ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2022 (% SHARE) 47
FIGURE 19 GLOBAL ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2018 TO 2030 (USD MILLION) 47
FIGURE 20 GLOBAL ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2022 (% SHARE) 50
FIGURE 21 GLOBAL ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2018 TO 2030 (USD MILLION) 51
FIGURE 22 NORTH AMERICA: ELECTRIC COMMERCIAL VEHICLE MARKET SHARE, BY COUNTRY, 2022 (% SHARE) 52
FIGURE 23 EUROPE: ELECTRIC COMMERCIAL VEHICLE MARKET SHARE, BY COUNTRY, 2022 (% SHARE) 57
FIGURE 24 ASIA-PACIFIC: ELECTRIC COMMERCIAL VEHICLE MARKET SHARE, BY COUNTRY, 2022 (% SHARE) 65
FIGURE 25 REST OF WORLD: ELECTRIC COMMERCIAL VEHICLE MARKET SHARE, BY REGION, 2022 (% SHARE) 72
FIGURE 26 BENCHMARKING OF MAJOR COMPETITORS 77
FIGURE 27 GLOBAL ELECTRIC COMMERCIAL VEHICLE MARKET SHARE ANALYSIS, 2022 78
FIGURE 28 AB VOLVO: FINANCIAL OVERVIEW SNAPSHOT 84
FIGURE 29 AB VOLVO: SWOT ANALYSIS 86
FIGURE 30 TESLA: FINANCIAL OVERVIEW SNAPSHOT 88
FIGURE 31 TESLA: SWOT ANALYSIS 89
FIGURE 32 DAIMLER TRUCK AG: FINANCIAL OVERVIEW SNAPSHOT 92
FIGURE 33 DAIMLER TRUCK AG: SWOT ANALYSIS 94
FIGURE 34 PACCAR INC.: FINANCIAL OVERVIEW SNAPSHOT 96
FIGURE 35 PACCAR INC.: SWOT ANALYSIS 98
FIGURE 36 BYD COMPANY LIMITED: FINANCIAL OVERVIEW SNAPSHOT 100
FIGURE 37 BYD COMPANY LIMITED: SWOT ANALYSIS 102
FIGURE 38 PROTERRA: FINANCIAL OVERVIEW SNAPSHOT 104
FIGURE 39 PROTERRA: SWOT ANALYSIS 106
FIGURE 40 EBUSCO: FINANCIAL OVERVIEW SNAPSHOT 108
FIGURE 41 EBUSCO: SWOT ANALYSIS 109
FIGURE 42 ANHUI ANKAI AUTOMOBILE CO., LTD.: FINANCIAL OVERVIEW SNAPSHOT 111
FIGURE 43 ANHUI ANKAI AUTOMOBILE CO., LTD.: SWOT ANALYSIS 113
FIGURE 44 YUTONG: FINANCIAL OVERVIEW SNAPSHOT 114
FIGURE 45 YUTONG: SWOT ANALYSIS 116
FIGURE 46 NFI GROUP INC.: FINANCIAL OVERVIEW SNAPSHOT 118
FIGURE 47 NFI GROUP INC: SWOT ANALYSIS 120
FIGURE 48 SCANIA: FINANCIAL OVERVIEW SNAPSHOT 122
FIGURE 49 VDL: FINANCIAL OVERVIEW SNAPSHOT 125
FIGURE 50 CAF: FINANCIAL OVERVIEW SNAPSHOT 128
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