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Commercial Electric Vehicles Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis (2017-2021) and Forecast (2022-2028)

Commercial Electric Vehicles Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis (2017-2021) and Forecast (2022-2028)

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Commercial Electric Vehicles Market: By Technology (Battery Electric Vehicles, Hybrid Electric Vehicles, Plug-in Hybrid Electric Vehicles), Vehicle Analysis (Bus, Truck, Pick-Up Truck, Van), Charging Infrastructure (Pantograph, Plug-in, Inductive) and Geography

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Report

Description

Commercial Electric Vehicles Market size is valued at USD 68,500.0 million in 2021 and is expected to reach a value of USD 391.9 billion by 2028, growing at a CAGR of 28% during the forecast period 2022 to 2028. The global market provides a detailed overview of the market and that can be segmented by the technology, vehicle and charging infrastructure. By technology, the commercial electric vehicles market has been segmented into the 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, truck, pick-up truck, and van. Among these, the bus segment is expected to have the fastest-growing market during the forecast period 2022-2028. 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.

 

Key Developments:

In Dec 2021, BYD introduced the ETP3 electric vehicle, which has a 50.3 kWh NMC battery and a 269 km range. The new electric van measures 4.46 metres in length and can carry 720 kg.

Commercial Electric Vehicles Market

MARKET SUMMARY
-
28%
  • Study Period– 2022 – 2028
  • Base Year– 2021
  • CAGR– 28%
  • Largest Market– North America
  • Fastest Growing Market–  Asia-Pacific

Commercial Electric Vehicles Market

  • The global commercial electric vehicles market report gives comprehensive outlook across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
  • The commercial electric vehicles market report gives historical, current, and future market sizes (US$ Mn) based on by technology,vehicle analysis, charging infrastructure and geography.
Key Players
  • Tesla
  • Nissan
  • BMW
  • Chevrolet
  • AB Volvo

Commercial Electric Vehicles Market Drivers

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.

Asia-Pacific Got Significant Share

Commercial Electric Vehicles Market

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
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East
Key

Features of the Report

  • The commercial electric vehicles market report provides granular level information about the market size, regional market share, historic market (2017-2021) and forecast (2022-2028)
  • The commercial electric vehicles market report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The commercial electric vehicles market report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The commercial electric vehicles market report tracks recent innovations, key developments, and start-up details that are actively working in the market
  • The commercial electric vehicles market report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
Commercial Electric Vehicles Market Segmentation

segmentation-block-image

By Technology

    • Battery Electric Vehicles,
    • Hybrid Electric Vehicles,
    • Plug-in Hybrid Electric Vehicles
segmentation-block-image

Vehicle Analysis

    • Bus,
    • Truck,
    • Pick-Up Truck,
    • Van
segmentation-block-image

Infrastructure

    • Pantograph,
    • Plug-in,
    • Inductive
Location

GEOGRAPHY

Frequently Asked Questions

The commercial electric vehicles market is projected to expand at a CAGR of 28% during the forecast period.

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

Report

Table Of Content

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, 2017 – 2021 and Forecast, 2022 – 2028
4.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (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, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
5.1. Battery Electric Vehicles
5.1.1.  Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (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, 2017 – 2021 and Forecast, 2022 – 2028 (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, 2017 – 2021 and Forecast, 2022 – 2028 (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, 2017 – 2021 and Forecast, 2022 – 2028
6.1. Bus
6.1.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (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, 2017 – 2021 and Forecast, 2022 – 2028 (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, 2017 – 2021 and Forecast, 2022 – 2028 (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, 2017 – 2021 and Forecast, 2022 – 2028 (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, 2017 – 2021 and Forecast, 2022 – 2028
7.1. Pantograph
7.1.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (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, 2017 – 2021 and Forecast, 2022 – 2028 (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, 2017 – 2021 and Forecast, 2022 – 2028 (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, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
8.1. North America
8.1.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (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, 2017 – 2021 and Forecast, 2022 – 2028 (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, 2017 – 2021 and Forecast, 2022 – 2028 (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, 2017 – 2021 and Forecast, 2022 – 2028 (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, 2017 – 2021 and Forecast, 2022 – 2028 (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, 2022 – 2028
9. North America Commercial Electric Vehicles Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
9.1. Technology Analysis 2017 – 2021 and Forecast 2022 – 2028 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 2017 – 2021 and Forecast 2022 – 2028 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 2017 – 2021 and Forecast 2022 – 2028 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 2017 – 2021 and Forecast 2022 – 2028  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, 2022 – 2028
9.6. North America Commercial Electric Vehicles Market Dynamics – Trends
10. Europe Commercial Electric Vehicles Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
10.1. Technology Analysis 2017 – 2021 and Forecast 2022 – 2028 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 2017 – 2021 and Forecast 2022 – 2028 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 2017 – 2021 and Forecast 2022 – 2028 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 2017 – 2021 and Forecast 2022 – 2028  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, 2022 – 2028
10.6. Europe Commercial Electric Vehicles Market Dynamics – Trends
11. Asia-Pacific Commercial Electric Vehicles Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
11.1. Technology Analysis 2017 – 2021 and Forecast 2022 – 2028 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 2017 – 2021 and Forecast 2022 – 2028 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 2017 – 2021 and Forecast 2022 – 2028 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 2017 – 2021 and Forecast 2022 – 2028  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, 2022 – 2028
11.6. Asia-Pacific Commercial Electric Vehicles Market Dynamics – Trends
12. Latin America Commercial Electric Vehicles Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028
12.1. Technology Analysis 2017 – 2021 and Forecast 2022 – 2028 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 2017 – 2021 and Forecast 2022 – 2028 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 2017 – 2021 and Forecast 2022 – 2028 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 2017 – 2021 and Forecast 2022 – 2028  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, 2022 – 2028
12.6. Latin America Commercial Electric Vehicles Market Dynamics – Trends
13. Middle East and Africa Commercial Electric Vehicles Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
13.1. Technology Analysis 2017 – 2021 and Forecast 2022 – 2028 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 2017 – 2021 and Forecast 2022 – 2028 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 2017 – 2021 and Forecast 2022 – 2028 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 2017 – 2021 and Forecast 2022 – 2028 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, 2022 – 2028
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
Report

Company Profile

  • 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
  • CAF

Description

Commercial Electric Vehicles Market size is valued at USD 68,500.0 million in 2021 and is expected to reach a value of USD 391.9 billion by 2028, growing at a CAGR of 28% during the forecast period 2022 to 2028. The global market provides a detailed overview of the market and that can be segmented by the technology, vehicle and charging infrastructure. By technology, the commercial electric vehicles market has been segmented into the 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, truck, pick-up truck, and van. Among these, the bus segment is expected to have the fastest-growing market during the forecast period 2022-2028. 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.

 

Key Developments:

In Dec 2021, BYD introduced the ETP3 electric vehicle, which has a 50.3 kWh NMC battery and a 269 km range. The new electric van measures 4.46 metres in length and can carry 720 kg.

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