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Electric Commercial Vehicle Market Size – USD 31.05 Billion in 2019, Market Growth - CAGR of 34.8%, Market trends –High demand from China.

VANCOUVER, BC, CANADA, November 22, 2021 /EINPresswire.com/ -- The demand for these commercial cars has surged, and it is anticipated to soon overtake the ICE vehicle. Governments all over the world are investing heavily in the electric vehicle charging infrastructure to provide lucrative opportunities for the OEMs to expand their business as well as revenue. However, the growing cost required in the initial overhaul, investment, and maintenance is hampering the electric commercial vehicle market's development.

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. 

Electric commercial vehicles may be beneficial in reducing the carbon footprints on the environment as they produce fewer emissions that are accountable for climate change and smog as compared to conventional vehicles. Presently, on the basis of the worldwide average carbon intensity of power generation, wheel-to-wheel emissions from an average electric commercial vehicle are lower as compared to an average ICE vehicle running on liquid/gaseous fuel blends.

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Global Electric commercial vehicles Market: Competitive Outlook

With a major focus on the growth trajectories of each segment of the market, the report inspects the operating patterns of each market contender, for instance, partnerships & collaborations, mergers & acquisitions, and new product launches, in a detailed manner. Alongside describing the vast competitive landscape of the Electric commercial vehicles market, the report estimates the CAGR for the market during the projected timeframe.

Key participants include Yutong, BYD, VDL Groep, Proterra, AB Volvo, NFI Group, Daimler AG, King Long, Ebusco B.V., and Ankai, among others.

Component Outlook (Revenue, USD Billion; 2017-2027)

Electric Motor

Electric Vehicle Battery

Hydrogen Fuel Cell

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.

North America accounted for a significant market share of the Electric Commercial Vehicle Market in 2019. The market is projected to see substantial growth owing to its huge implementation in various areas verticals, especially in the North American region.

The findings of the report explain various aspects of the market, such as market status, developmental prospects, key regional segments, renowned market players, product offerings, end-use industries.

Electric commercial vehicles Market Segmentation by Region:

North America 

South America 

Europe 

Asia Pacific 

Middle East & Africa

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The latest research report specializes in the in-depth analysis of the macroeconomic and microeconomic factors affecting the global Electric commercial vehicles market development. The report also concentrates on the regulatory framework that is shaping the future of the global market. New and existing pricing structures, emerging application areas, and upcoming investment opportunities have also been detailed in the report. The report encapsulates the significant effects of the coronavirus pandemic on the Electric commercial vehicles industry and its key segments. The study, therefore, inspects the grave impact of the pandemic on this industry vertical, its leading players, distribution channels, supply chains, and the overall economic landscape.

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:

Propulsion Type Outlook (Revenue, USD Billion; 2017-2027)

BEV

PHEV

FCEV

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)

Others

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

The report has been specially curated to offer a deep understanding of the competitive terrain of the global market, highlighting the leading market rivals, their market positions, product portfolios, gross revenue shares, profit margins, pricing analysis, sales network & distribution channels, and financial standing.

The report aims to answer the most common queries related to the global Electric commercial vehicles market:

What is the scope of innovation in the current market landscape?

What are the current trends dictating global market growth?

What is the projected value of the market in 2027?

Which regional market is expected to witness the highest CAGR during the forecast period?

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Emergen Research
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