Commercial Electric Vehicles Market: By Technology, By Vehicle Analysis, By Charging Infrastructure and Region Forecast 2019 - 2030
Commercial Electric Vehicles Market: By Technology, By Vehicle Analysis, By Charging Infrastructure and Region Forecast 2019 - 2030
Commercial Electric Vehicles Market size was valued at US$ 68,500.0 million in 2023 and is expected to reach a value of US$ 398.9 billion by 2030, growing at a CAGR of 28% from 2024-2030. The global market provides a detailed overview of the market that can be segmented by the technology, vehicle, and charging infrastructure. By technology, the commercial electric vehicles market has been segmented into battery electric vehicles, hybrid electric vehicles, and plug-in hybrid electric vehicles.
The battery-electric vehicles segment is likely to be the largest and fastest-growing segment in terms of technology. Based on the vehicle, the commercial electric vehicles market is segmented into the bus, trucks, pick-up trucks, and vans. Among these, the bus segment is expected to have the fastest-growing market during the forecast period. On the charging infrastructure, the market is segregated into pantograph, plug-in, and inductive. The pantograph held a considerable market share during the forecast period.
Study Period
2024-2030Base Year
2023CAGR
28%Largest Market
North AmericaFastest Growing Market
Asia-Pacific
The last-mile transportation of goods from warehouses is increasingly being done with electric commercial vehicles, government support for electric commercial vehicles, high demand for electric pickups with many pre-bookings in these vehicles, and rising prices of fossil fuels to raise demand for ECVS are some key factors boosting the market growth.
By region, the Asia Pacific market is expected to witness the highest market share during the forecast period due to growing greener technologies and efforts to create a cleaner environment, hence, there is a growing demand for electric automobiles. India, China, and Japan are the major contributors to the growth of the market in the region. India is anticipated to have a high potential market in the future due to favorable government laws and the increasing deployment of electric buses in public transportation fleets. North America held a considerable market share during the estimated period.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2023 |
US$ 68,500.0 million |
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Market Size in 2030 |
US$ 398.9 billion |
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Market CAGR |
28% |
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By Technology |
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By Vehicle Analysis |
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By Infrastructure |
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The commercial electric vehicles market size was valued at US$ 68,500.0 million in 2023
The major players in the global commercial electric vehicles market are Tesla, Nissan, BMW, Chevrolet, Ford, AB Volvo, Alexander Dennis Ltd., Alstom Group, Anhui Ankai Automobile Co. Ltd., Ashok Leyland Ltd., Bluebus SAS, Bozankaya A.S., BYD Co. Ltd., Caetanobus – Fabrico De Autocarros E Carrocarias S.A., Chariot Motors, Dongfeng Motor Corp., Ebusco B.V., Nanjing Golden Dragon Bus Co. Ltd., Proterra Inc., Tata Motors Ltd., Cummins Inc., E-Force One AG, Hino Motors Ltd, Isuzu Motors Ltd., Iveco S.p.A., Nikola Corp., Scania AB, Workhorse Group Inc, VDL Bus and Coach, Daimler and CAF.
Asia Pacific is the fastest-growing region for commercial electric vehicles market
| 1. Executive Summary |
| 2. Global Commercial Electric Vehicles Market Introduction |
| 2.1. Global Commercial Electric Vehicles Market Taxonomy |
| 2.2. Global Commercial Electric Vehicles Market Definitions |
| 2.2.1. By Technology |
| 2.2.2. By Vehicle |
| 2.2.3. By Charging Infrastructure |
| 3. Global Commercial Electric Vehicles Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Global Commercial Electric Vehicles Market Dynamic Factors - Impact Analysis |
| 3.6. Global Commercial Electric Vehicles Market Competition Landscape |
| 4. Global Commercial Electric Vehicles Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 |
| 4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5. Global Commercial Electric Vehicles Market, By Technology, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.1. Battery Electric Vehicles |
| 5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Hybrid Electric Vehicles |
| 5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Plug-in Hybrid Electric Vehicles |
| 5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 6. Global Commercial Electric Vehicles Market Forecast, By Vehicle, 2019 - 2023 and Forecast, 2024 - 2030 |
| 6.1. Bus |
| 6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Truck |
| 6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Pick-up Truck |
| 6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 6.4. Van |
| 6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.4.3. Market Opportunity Analysis |
| 7. Global Commercial Electric Vehicles Market Forecast, By Charging Infrastructure, 2019 - 2023 and Forecast, 2024 - 2030 |
| 7.1. Pantograph |
| 7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Plug-in |
| 7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Inductive |
| 7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 7.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 8. Global Commercial Electric Vehicles Market Forecast, By Region, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 8.1. North America |
| 8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 8.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.1.3. Market Opportunity Analysis |
| 8.2. Europe |
| 8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 8.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.2.3. Market Opportunity Analysis |
| 8.3. Asia-Pacific |
| 8.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 8.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.3.3. Market Opportunity Analysis |
| 8.4. Latin America |
| 8.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 8.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.4.3. Market Opportunity Analysis |
| 8.5. Middle East and Africa |
| 8.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 8.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.5.3. Market Opportunity Analysis |
| 8.6. Global Commercial Electric Vehicles Market - Opportunity Analysis Index, By Technology, By Vehicle Type, Charging Infrastructure, and Country, 2024 - 2030 |
| 9. North America Commercial Electric Vehicles Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 9.1. Technology Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1. Battery Electric Vehicles |
| 9.1.2. Hybrid Electric Vehicles |
| 9.1.3. Plug-in Hybrid Electric Vehicles |
| 9.2. Vehicle Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 9.2.1. Bus |
| 9.2.2. Truck |
| 9.2.3. Pick-Up Truck |
| 9.2.4. Van |
| 9.3. Charging Infrastructure Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 9.3.1. Pantograph |
| 9.3.2. Plug-in |
| 9.3.3. Inductive |
| 9.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030Â by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 9.4.1. U.S. |
| 9.4.2. Canada |
| 9.5. North America Commercial Electric Vehicles Market - Opportunity Analysis Index, By Technology, By Vehicle Type, Charging Infrastructure, and Country, 2024 - 2030 |
| 9.6. North America Commercial Electric Vehicles Market Dynamics Trends |
| 10. Europe Commercial Electric Vehicles Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 10.1. Technology Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1. Battery Electric Vehicles |
| 10.1.2. Hybrid Electric Vehicles |
| 10.1.3. Plug-in Hybrid Electric Vehicles |
| 10.2. Vehicle Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 10.2.1. Bus |
| 10.2.2. Truck |
| 10.2.3. Pick-Up Truck |
| 10.2.4. Van |
| 10.3. Charging Infrastructure Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 10.3.1. Pantograph |
| 10.3.2. Plug-in |
| 10.3.3. Inductive |
| 10.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030Â by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 10.4.1. Germany |
| 10.4.2. UK |
| 10.4.3. France |
| 10.4.4. Spain |
| 10.4.5. Italy |
| 10.4.6. Russia |
| 10.4.7. Poland |
| 10.4.8. Rest of Europe |
| 10.5. Europe Commercial Electric Vehicles Market - Opportunity Analysis Index, By Technology, By Vehicle Type, Charging Infrastructure, and Country, 2024 - 2030 |
| 10.6. Europe Commercial Electric Vehicles Market Dynamics Trends |
| 11. Asia-Pacific Commercial Electric Vehicles Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 11.1. Technology Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1. Battery Electric Vehicles |
| 11.1.2. Hybrid Electric Vehicles |
| 11.1.3. Plug-in Hybrid Electric Vehicles |
| 11.2. Vehicle Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 11.2.1. Bus |
| 11.2.2. Truck |
| 11.2.3. Pick-Up Truck |
| 11.2.4. Van |
| 11.3. Charging Infrastructure Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 11.3.1. Pantograph |
| 11.3.2. Plug-in |
| 11.3.3. Inductive |
| 11.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030Â by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 11.4.1. Japan |
| 11.4.2. China |
| 11.4.3. India |
| 11.4.4. ASEAN |
| 11.4.5. Australia & New Zealand |
| 11.4.6. Rest of Asia-Pacific |
| 11.5. Asia-Pacific Commercial Electric Vehicles Market - Opportunity Analysis Index, By Technology, By Vehicle Type, Charging Infrastructure, and Country, 2024 - 2030 |
| 11.6. Asia-Pacific Commercial Electric Vehicles Market Dynamics Trends |
| 12. Latin America Commercial Electric Vehicles Market Analysis, 2019 - 2023 and Forecast, 2022 2028 |
| 12.1. Technology Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1. Battery Electric Vehicles |
| 12.1.2. Hybrid Electric Vehicles |
| 12.1.3. Plug-in Hybrid Electric Vehicles |
| 12.2. Vehicle Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 12.2.1. Bus |
| 12.2.2. Truck |
| 12.2.3. Pick-Up Truck |
| 12.2.4. Van |
| 12.3. Charging Infrastructure Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 12.3.1. Pantograph |
| 12.3.2. Plug-in |
| 12.3.3. Inductive |
| 12.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030Â by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 12.4.1. Brazil |
| 12.4.2. Mexico |
| 12.4.3. Argentina |
| 12.4.4. Rest of Latin America |
| 12.5. Latin America Commercial Electric Vehicles Market - Opportunity Analysis Index, By Technology, Vehicle Type, Charging Infrastructure, and Country, 2024 - 2030 |
| 12.6. Latin America Commercial Electric Vehicles Market Dynamics Trends |
| 13. Middle East and Africa Commercial Electric Vehicles Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 13.1. Technology Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 13.1.1. Battery Electric Vehicles |
| 13.1.2. Hybrid Electric Vehicles |
| 13.1.3. Plug-in Hybrid Electric Vehicles |
| 13.2. Vehicle Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 13.2.1. Bus |
| 13.2.2. Truck |
| 13.2.3. Pick-Up Truck |
| 13.2.4. Van |
| 13.3. Charging Infrastructure Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 13.3.1. Pantograph |
| 13.3.2. Plug-in |
| 13.3.3. Inductive |
| 13.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 13.4.1. Gulf Cooperation Council (GCC) Countries |
| 13.4.2. Israel |
| 13.4.3. South Africa |
| 13.4.4. Rest of MEA |
| 13.5. MEA Commercial Electric Vehicles Market - Opportunity Analysis Index, By Technology, Vehicle Type, Charging Infrastructure, and Country, 2024 - 2030 |
| 13.6. MEA Commercial Electric Vehicles Market Dynamics Trends |
| 14. Competition Landscape |
| 14.1. Strategic Dashboard of Top Market Players |
| 14.2. Company Profiles (Introduction, Financial Analysis, Product & Service Offerings, Key Developments, Strategies, and SWOT Analysis) |
| 14.2.1. Tesla |
| 14.2.2. Nissan |
| 14.2.3. BMW |
| 14.2.4. Chevrolet |
| 14.2.5. Ford |
| 14.2.6. AB Volvo |
| 14.2.7. Alexander Dennis Ltd. |
| 14.2.8. Alstom Group |
| 14.2.9. Anhui Ankai Automobile Co. Ltd. |
| 14.2.10. Ashok Leyland Ltd., |
| 14.2.11. Bluebus SAS, |
| 14.2.12. Bozankaya A.S. |
| 14.2.13. BYD Co. Ltd. |
| 14.2.14. Caetanobus - Fabrico De Autocarros E Carrocarias S.A. |
| 14.2.15. Chariot Motors |
| 14.2.16. Dongfeng Motor Corp. |
| 14.2.17. Ebusco B.V. |
| 14.2.18. Nanjing Golden Dragon Bus Co. Ltd. |
| 14.2.19. Proterra Inc. |
| 14.2.20. Tata Motors Ltd. |
| 14.2.21. Cummins Inc. |
| 14.2.22. E-Force One AG |
| 14.2.23. Hino Motors Ltd |
| 14.2.24. Isuzu Motors Ltd. |
| 14.2.25. Iveco S.p.A. |
| 14.2.26. Nikola Corp. |
| 14.2.27. Scania AB |
| 14.2.28. Workhorse Group Inc |
| 14.2.29. VDL Bus and Coach |
| 14.2.30. Daimler |
| 14.2.31. CAF |
| 14.2.32. Emoss Mobile Systems |
| 14.2.33. Yutong |
| 15. Research Methodology |
| 16. Key Assumptions and Acronyms |
Key Market Players
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