Dublin, May 31, 2022 (GLOBE NEWSWIRE) -- The "Electric Commercial Vehicle Market by Propulsion, Vehicle Type, Range, Battery Type, Length of Bus, Power Output, Battery Capacity, Component, Autonomous Vehicle, End User, Truck Payload Capacity and Region - Global Forecast 2030" report has been added to ResearchAndMarkets.com's offering.
The global electric commercial vehicle market size is projected to grow from 353 thousand units in 2022 to 3,144 thousand units by 2030, at a CAGR of 31.4%.
The Electric Van Segment is expected to be the largest market in the forecast period
Electric vans are enclosed wagons or motor truck vehicles that receive power from the power grid and are driven by an electric motor. they are expected to be the largest segment by vehicle type in the electric commercial vehicle market. Major players operating in the global electric van market include Renault (France), Daimler AG (Germany), Nissan Motor Corporation (Japan), PSA Group (France), Toyota Motor Corporation (Japan), IVECO S.p.A. (Italy), London Electric Vehicle Company (United Kingdom), General Motors (US), Ford Motor Company (US), AB Volvo (Sweden), Mahindra & Mahindra LTD. (India), BYD Company Limited (China), and Volkswagen AG (Germany).
For instance, in January 2021, PEUGEOT (France) is expanding its electric van range with the new PEUGEOT e-Partner, the latest light commercial vehicle (LCV) in the brand's lineup to be offered as a fully electric commercial vehicle. The growth of the logistics and e-commerce sectors is expected to drive the market for electric vans for various applications such as last-mile delivery and distribution services. Electric vans would witness an increasing demand due to lower operating costs, negligible harmful emissions, and various forms of government support.
Last-mile delivery will be the largest segment in the forecast period by End User
The increasing use of electric commercial vehicles for last-mile delivery of goods from warehouses to end-users is expected to boost the electric commercial vehicle market in the near future. Companies are considering the addition of electric commercial vehicles, especially electric vans, and pickup trucks, to their fleets to reduce fuel expenses and mitigate emissions. In September 2019, Amazon announced plans to introduce 1,00,000 electric delivery vans by 2030 in partnership with Rivian.
The company plans to roll out the first 10,000 e-vans globally by 2022 and aims to have 10,000 e-vans in India by 2025. In May 2022, TerraGo (India) used a fleet of 65 Mahindra Treo Zor cargo vehicles for grocery delivery in major cities in India. Also, In January 2020, UPS ordered 10,000 electric vans from Arrival, a UK EV startup company, for delivery across the US, the UK, and Europe by 2024. The company will have the option to order an additional 10,000 EVs during the period. In August 2020, Flipkart (India) announced plans to convert its entire fleet to electric by 2030.
Thus, the most common electric commercial vehicle used in the last mile delivery segment would be electric vans. With companies and governments across the globe encouraging the use of electric vehicles, the electric commercial vehicle industry is expected to grow exponentially in the next decade. Electric commercial vehicles have a major role in last-mile delivery with lower emissions, cheaper running costs, and less ongoing maintenance.
Less than 150 miles segment is expected to be the largest in the market in the forecast period
The less than 150 miles segment is expected to be the largest market in the forecast period. Low performance and affordable electric commercial vehicles usually have a range of fewer than 150 miles. Several OEMs offer electric buses and vans with low-cost batteries with a restricted range of 100-150 miles. OEMs have been providing buses and vans for this segment over the years.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in Electric Commercial Vehicle Market
4.2 Electric Commercial Vehicle Market Growth Rate, by Region
4.3 Electric Commercial Vehicle Market, by Battery Type
4.4 Electric Commercial Vehicle Market, by Battery Capacity
4.5 Electric Bus Market, by Length of Bus
4.6 Electric Commercial Vehicle Market, by Propulsion
4.7 Electric Commercial Vehicle Market, by Power Output
4.8 Electric Commercial Vehicle Market, by Range
4.9 Electric Commercial Vehicle Market, by Vehicle Type
4.10 Electric Commercial Vehicle Market, by End-User
4.11 Electric Truck Market, by Truck Payload Capacity
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Reducing Prices of Ev Batteries to Increase Demand for Ecvs
5.2.1.2 Rising Prices of Fossil Fuels to Raise Demand for Ecvs
5.2.1.3 Increasing Demand for Emission-Free Commercial Vehicles and Electric Vehicles in Logistics Industry to Drive Market Demand
5.2.1.4 Government Support for Electric Commercial Vehicles
5.2.2 Restraints
5.2.2.1 High Development Costs to Delay Ecv Launches in Market
5.2.2.2 Concerns Over Battery Safety to Restrain Market Development
5.2.2.3 Insufficient Ev Charging Infrastructure to Slow Ecv Adoption
5.2.2.4 Lower Vehicle Range Hampers Use for Long-Distance Logistics
5.2.3 Opportunities
5.2.3.1 New Revenue Pockets in North America and Northern Europe to Provide Market Growth Opportunities
5.2.3.2 Development of Wireless Ev Charging Technology for On-The-Go Charging to Fuel Market
5.2.3.3 Use of Evs for Fleets and Commercial Applications to Boost Ecv Market
5.2.4 Challenges
5.2.4.1 Limited Battery Capacity to Challenge Market Growth
5.2.4.2 Lower Availability of Lithium for Ev Batteries to Act as Hurdle for Manufacturers
5.2.4.3 Insufficient Global Grid Infrastructure to Limit Adoption of Electric Commercial Vehicles
5.3 Porter's Five Forces Model Analysis
5.4 Upcoming Electric Trucks and Pickups
5.5 Electric Commercial Vehicle Market Ecosystem
5.6 Notable Developments in Ev Market (2021)
5.7 Supply Chain Analysis
5.8 Electric Commercial Vehicle Pricing Analysis
5.9 Case Study
5.9.1 Adoption of Electric Buses as Public Transport in Finland
5.9.2 Adoption of Electric Buses as Public Transport in Shenzhen, China
5.9.3 User Experience of Battery Electric Trucks in Norway
5.10 Buying Criteria
5.11 Technology Analysis
5.12 Patent Analysis
5.13 Trends and Disruptions in Electric Commercial Vehicle Market
5.14 Regulatory Overview
5.15 Key Conference & Events in 2022-2023
5.16 Electric Commercial Vehicle Market, Market Scenarios (2022-2030)
6 Electric Commercial Vehicle Market, by Autonomous Vehicle
6.1 Introduction
6.2 Electric Autonomous Truck
6.3 Electric Autonomous Bus
7 Electric Commercial Vehicle Market, by Battery Type
7.1 Introduction
7.1.1 Operational Data
7.1.2 Assumptions
7.1.3 Research Methodology
7.2 Nickel-Manganese-Cobalt
7.2.1 Advancements in Battery Technology to Boost Demand for Nmc Batteries in ECV
7.3 Lithium-Iron-Phosphate
7.3.1 Affordable Prices to Drive Market for LFP Batteries
7.4 Others
7.4.1 OEMs and Startups Working on Alternative Batteries to Boost Market
7.5 Solid State Battery
7.6 Key Industry Insights
8 Electric Commercial Vehicles Market, by Battery Capacity
8.1 Introduction
8.1.1 Operational Data
8.1.2 Assumptions
8.1.3 Research Methodology
8.2 Less Than 50 Kwh
8.2.1 Growing Electric Van Sales to Fuel Less Than 50 Kwh Segment
8.3 50-250 Kwh
8.3.1 Affordable Electric Buses and Pickup Trucks Drive 50-250 Kwh Market in Asia-Pacific
8.4 Above 250 Kwh
8.4.1 Long Buses and Heavy-Duty Trucks to Lead Market
8.5 Key Industry Insights
9 Electric Commercial Vehicle Market, by Component
9.1 Introduction
9.2 Battery Cells and Packs
9.3 Onboard Charger
9.4 Motor
9.5 Reducer
9.6 Power Control Unit
9.7 Battery Management System
9.8 Fuel Cell Stack
9.9 Fuel Processor
9.10 Power Conditioner
9.11 Air Compressor
9.12 Humidifier
10 Electric Bus Market, by Length of Bus
10.1 Introduction
10.1.1 Operational Data
10.1.2 Assumptions: Length of Bus
10.1.3 Research Methodology
10.2 Less Than 9M
10.2.1 High Demand for Electric Buses on Narrow Roads to Increase Demand
10.3 9-14M
10.3.1 High Adoption Rate of Electric Buses for Public Transport Fleet to Drive Segment
10.4 Above 14 M
10.4.1 Growing Demand for Intercity Public Transport in Highly Populated Countries to Impact Above 14 M Bus Sales
10.5 Key Industry Insights
11 Electric Commercial Vehicles Market, by Propulsion
11.1 Introduction
11.1.1 Operational Data
11.1.2 Assumptions
11.1.3 Research Methodology
11.2 Battery Electric Vehicle (BEV)
11.2.1 BEV Segment to Influence ECV Market due to High Bev Bus and Van Sales
11.3 Fuel Cell Electric Vehicle (FCEV)
11.3.1 FCEV Vans to Start Selling from Around 2023
11.4 Plug-In Hybrid Electric Vehicle (PHEV)
11.4.1 Asia-Pacific Projected to be Largest Phev Market
11.5 Key Industry Insights
12 Electric Commercial Vehicle Market, by Power Output
12.1 Introduction
12.1.1 Operational Data
12.1.2 Assumptions
12.1.3 Research Methodology
12.2 Less Than 100 Kw
12.2.1 Use of Small Electric Vans for Shipping by Logistics Companies in Europe
12.3 100-250 Kw
12.3.1 Development of Best-In-Class Pickup Trucks to Lead Market for 100-250 Kw Power Output
12.4 Above 250 Kw
12.4.1 Upcoming Market for Best-In-Class Electric Pickups and Buses
12.5 Key Industry Insights
13 Electric Commercial Vehicle Market, by Range
13.1 Introduction
13.1.1 Operational Data
13.1.2 Assumptions
13.1.3 Research Methodology
13.2 Less Than 150 Miles
13.2.1 Affordable Electric Vans to Drive Less Than 150 Miles Segment
13.3 150-300 Miles
13.3.1 High Adoption Rate of Electric Buses to Boost 150-300 Miles Electric Cv Market
13.4 Above 300 Miles
13.4.1 Advancements in Battery Technologies to Drive Above 300 Miles Segment
13.5 Key Industry Insights
14 Electric Commercial Vehicle Market, by Vehicle Type
14.1 Introduction
14.1.1 Operational Data
14.1.2 Assumptions
14.1.3 Research Methodology
14.2 Electric Bus
14.2.1 Electric Bus Demand to Grow with Demand for Emission-Free Public Transport
14.3 Electric Pickup Truck
14.3.1 Electric Pickup Sales to Grow with Best-In-Class Electric Pickups Fro Oems
14.4 Electric Truck
14.4.1 Advancements in Battery Technology to Boost Electric Truck Market
14.4.2 Medium-Duty and Heavy-Duty Trucks
14.5 Electric Van
14.5.1 Increasing Demand from Logistics Providers to Drive Electric Van Market
14.6 Key Industry Insights
15 Electric Commercial Vehicle Market, by End-User
15.1 Introduction
15.1.1 Operational Data
15.1.2 Assumptions
15.1.3 Research Methodology
15.2 Last Mile Delivery
15.3 Field Services
15.4 Distribution Service
15.5 Long Haul Transportation
15.6 Refuse Service
15.7 Key Industry Insights
16 Electric Truck Market, by Truck Payload Capacity
16.1 Introduction
16.1.1 Operational Data
16.1.2 Assumptions
16.1.3 Research Methodology
16.2 Up to 10,000 Lbs
16.3 10,001- 26,000 Lbs
16.4 26,001 Lbs and Above
16.5 Key Industry Insights
17 Electric Commercial Vehicle Market, by Region
18 Competitive Landscape
19 Company Profiles
19.1 Key Players
19.1.1 Byd
19.1.2 Yutong
19.1.3 Vdl Groep
19.1.4 Ab Volvo
19.1.5 Caf
19.1.6 Proterra
19.1.7 Mercedes-Benz Group
19.1.8 Nfi Group
19.1.9 Ebusco
19.1.10 King Long
19.1.11 Ankai
19.1.12 Zhongtong Bus Holding
19.2 Other Key Players
19.2.1 Blue Bird Corporation
19.2.2 Rivian
19.2.3 The Lion Electric Company
19.2.4 Tata Motors
19.2.5 Ashok Leyland
19.2.6 Changsha Sunda New Energy Technology Co. Ltd.
19.2.7 Olectra Greentech
19.2.8 Yinlong Energy
19.2.9 Golden Dragon
19.2.10 Jbm Auto Limited
19.2.11 Scania
19.2.12 Irizar
19.2.13 Iveco
19.2.14 Skoda
19.2.15 Chariot Motors
19.2.16 Otokar Otomotiv Ve Savunma Sanayi A.a
19.2.17 Temsa
19.2.18 Karsan
19.2.19 Zenith Motors
19.2.20 Workhorse Group
20 Analyst's Recommendations
21 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/8k67yq
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