Electric Commercial Vehicle Market by Product and Geography - Forecast and Analysis 2021-2025

  • Published: Oct 2021
  • Pages: 120
  • SKU: IRTNTR44705
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 Electric Commercial Vehicle Market - 2021-2025

The electric commercial vehicle market size is expected to grow by 816.82 thousand units, at a CAGR of 33.42%, between 2021 and 2025. This research study helps in a deep understanding of the underlying forces driving the market growth and current and potential target customers across segmentations. According to our comprehensive survey, factors such as growing focus on reducing vehicular emissions are projected to significantly support market growth during the forecast period. Our research experts have thoroughly evaluated and covered the latest trends and challenges that will have a far-reaching effect on the market growth.

To Unlock the Electric Commercial Vehicle Market Size for 2021 and Other Important Statistics, Download the Free Report Sample!

Electric Commercial Vehicle Market Segments

From this Technavio report, get actionable insights on the electric commercial vehicle market segments to generate successful ROIs and focus your business strategy efforts where they are most likely to be effective. Navigate through market segmentation by product (LCVs, buses, and heavy and medium commercial vehicles) and geography (APAC, North America, Europe, South America, and MEA) in this electric commercial vehicle market report to pursue growth opportunities.

Also, our market research experts have evaluated the impact of COVID-19 across market segments for our clients to understand the long-term business implications and foresee opportunities for subsequent recovery. This research report entails a thorough qualitative and quantitative analysis on the post-pandemic electric commercial vehicle market predictions on consumer demand changes for 2021-2025.

Electric Commercial Vehicle Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 33.42%

Market growth 2021-2025

816.82 th units

Market structure

Fragmented

YoY growth (%)

38.42

Regional analysis

APAC, North America, Europe, South America, and MEA

Performing market contribution

APAC at 86%

Key consumer countries

China, US, Japan, Norway, and Germany

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Companies profiled

AB Volvo, BYD Co. Ltd., Daimler AG, Ford Motor Co., Hyundai Motor Co., Navistar International Corp., Nissan Motor Co. Ltd., Tata Motors Ltd., Tesla Inc., and Toyota Motor Corp.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Electric Commercial Vehicle Market Key Vendors and Competitive Analysis

Technavio research specialists have included significant well-thought-out business planning approaches of key players in this report. The electric commercial vehicle market is fragmented and the vendors are deploying growth strategies such as forming strategic partnerships to gain a competitive advantage.

The unprecedented outbreak of COVID-19 last year impacted market segments that has had a ripple effect on various stakeholders. To make the most of the opportunities and recover from post COVID-19 impact, the market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Get the full report to understand the COVID-19 impact on the growth of the electric commercial vehicle market share during 2021-2025.

The electric commercial vehicle market forecast report comprises complete key vendor profiles. The profiles include information on the production, sustainability, prospects of the leading companies, and other crucial vendor landscape analysis.

Electric Commercial Vehicle Market Vendors

Regional Opportunities in Electric Commercial Vehicle Market - 2021-2025

86% of the electric commercial vehicle market growth will originate from APAC during the forecast period. China and Japan are the key markets for electric commercial vehicle market in APAC. This report encompasses exclusive information on potential business locations and understand the demographics of current and prospective customers.

Electric Commercial Vehicle Market Share by Geography

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APAC has been exhibiting a significant growth rate for electric commercial vehicle market vendors. To view our in-depth analytical review on the micro and macroeconomic factors impacting businesses in the regions click on the image above.

The electric commercial vehicle market share growth in APAC will be faster than the growth of the market in the European and North American regions. The geographical segmentation in the report has assessed and included details on the competitive intelligence and regional opportunities in store for vendors.

Electric Commercial Vehicle Market Share and Revenue by Product

Electric Commercial Vehicle Market Share by Product

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The electric commercial vehicle market share growth by the LCVs segment will be significant during the forecast period.  The rapid growth of the retail and e-commerce industries, increasing traffic congestion in urban areas, advances in technologies, and the rising development of new LCVs by automobile manufacturers are boosting the growth of the LCVs segment of the global electric commercial vehicle market. This report provides an accurate prediction of the contribution of all the segments to the growth of the electric commercial vehicle market size.

From the electric commercial vehicle market segmentation insights, players can achieve maximum market response by understanding the target consumers. The analytical data on the segmentations will allow vendors to position their services and products among the right audiences and gain significant exposure and growth. Also, get updated actionable market insights on post COVID-19 impact on each segment.

 Key Electric Commercial Vehicle Market Drivers & Trends

While it is crucial to have a solid understanding of the drivers and trends, it is also imperative that the market challenges are recognized to improvize business planning and sustain market competition. One of the key factors impeding electric commercial vehicle market growth is high costs associated with ECVs. In this research report, our analysts have elucidated exhaustive all key industry trends, drivers, and challenges, which will help companies evaluate and develop growth strategies.

One of the key factors driving growth in the electric commercial vehicle market is the growing focus on reducing vehicular emissions. Air pollution, the loss of biodiversity, and acid rain are some of the major environmental problems caused by emissions from vehicles. The need to control air pollution and the implementation of stringent regulations to control the emissions generated by vehicles have increased significantly across the globe. The growing focus on reducing vehicular emissions is increasing the demand for electric vehicles (EVs), which produce zero direct emissions, which, in turn, help in controlling the air quality.

The increasing adoption of EVs for improved logistics and transportation is another major factor supporting the electric commercial vehicle market share growth. Reduced maintenance costs, minimal breakdown, lower fuel costs, and the rising popularity of the green logistics concept are increasing the adoption of electric commercial vehicles for logistics and transportation purposes. The growing focus of industries on achieving environmental and economic sustainability, coupled with effective logistics and supply chains, is fueling the growth of the global electric commercial vehicle market.

This electric commercial vehicle market analysis report provides detailed information on key trends, drivers, and challenges that is the essence of business planning and strengthening marketing strategies across regions and segmentations.

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Electric Commercial Vehicle Market Report Outlook

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive electric commercial vehicle market growth during the next five years
  • Precise estimation of the electric commercial vehicle market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the electric commercial vehicle market across APAC, North America, Europe, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of electric commercial vehicle market vendors

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The electric commercial vehicle market 2018-2022 market growth will increase by $531.99 thousand units during 2019-2024.
The electric commercial vehicle market 2018-2022 market is expected to grow at a CAGR of 24.60% during 2019-2024.
Technavio has segmented the electric commercial vehicle market 2018-2022 market by product by volume (LCVs, Buses, and Heavy and medium commercial vehicles) and geographic (APAC, North America, Europe, South America, and MEA).
AB Volvo, BYD Co. Ltd., Daimler AG, Ford Motor Co., Hyundai Motor Co., Navistar International Corp., Nissan Motor Co. Ltd., Tata Motors Ltd., Tesla Inc., Toyota Motor Corp. are a few of the key vendors in the electric commercial vehicle market 2018-2022 market.
APAC will register the highest growth rate of 86.26% among the other regions. Therefore, the electric commercial vehicle market 2018-2022 market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the electric commercial vehicle market 2018-2022 market growth are:
  • Growing focus on reducing vehicular emissions
  • Growing focus on strategies to develop advanced ECVs
The electric commercial vehicle market 2018-2022 market vendors should focus on grabbing business opportunities from the lcvs segment as it accounted for the largest market share in the base year.
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