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.
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.