The Electric Commercial Vehicle Market

The electric commercial vehicles driven by electricity are environment friendly, silent and are efficient than diesel and petrol engine vehicles. Generally the electric commercial vehicles include trucks, buses, vans for better transportation and public transportation. These electric vehicles have capability to curb the greenhouse gases, reliance on fossil fuels and are quiet. The demand for electric buses and vans will propel the public transportation in the coming years. The evolution of technologically advanced charging stations is one of the major factors which will accelerate the electric commercial vehicle market growth in the coming years. Technology manufacturers are emphasizing on supporting operations of electric vehicles by developing an increased number of outlets. These advanced charging stations will recharge the batteries of electric vehicles at rapid speeds. In turn, this will fuel demand, sales and production of commercial vehicles. In addition, the governing bodies in the US, Germany and the UK are promoting the sales of electric commercial vehicles and emphasizing on minimizing the range concern of freight operators by establishing charging infrastructure and installing them in essential locations. The technical innovations in batteries for electric commercial vehicles will also accelerate the electric commercial vehicle market growth in the upcoming years. Battery OEMs are undertaking research and development activities to develop several types of battery packs for electric vehicles with high traveling ranges. These batteries can recharge the electric vehicles quickly, retain huge amounts of power and resist constant charging cycles. Numerous manufacturers are remodeling technologies to manufacture components of lithium-ion batteries. This will foster the sales of electric commercial vehicles. The implementation of stringent environmental regulations and guidelines has also resulted in the increase in demand for sustainable electric commercial vehicles. Over the forecasted period, these market trends would play a vital role in enhancing the market performance. However, the huge development cost incurred in production of electric commercial vehicles will restrain the market.

Some of the major opportunities are developing the green technological concept to further fuel the efficiency of the vehicles. The businesses also have the chance to work on the research and development activities to incorporate new technologies and improve the present battery technologies. 

The global Electric Commercial Vehicle (ECV) Market is segregated on the basis of Propulsion as Battery Electric Vehicle, Hybrid Electric Vehicle and Plug-In Hybrid Electric Vehicle and Fuel Cell Electric Vehicle. Based on Vehicle the global Electric Commercial Vehicle (ECV) Market is segmented in Bus, Trucks, Pick-Up Trucks and Van. Based on Range the global Electric Commercial Vehicle (ECV) Market is segmented in 0-150 Miles, 151-250 Miles, 251-500 Miles and 500 Miles & Above. Based on Component the global Electric Commercial Vehicle (ECV) Market is segmented in Electric Motor, EV Battery and Hydrogen Fuel Cell.

The global Electric Commercial Vehicle (ECV) Market report provides geographic analysis covering regions, such as Europe, North America, Asia Pacific, and Rest of The World. The Electric Commercial Vehicle (ECV) Market for each region is further segmented for major countries including the U.S., Canada, Germany, the U.K., France, Italy, China, India, Japan, Brazil, South Africa, and others.

Competitive Analysis

Changsha Sunda New Energy Technology Co. Ltd., Chanje Energy, Daimler AG, Ebusco B.V., Emoss Mobile Systems B.V. and others are among the major players in the global Electric Commercial Vehicle (ECV) Market. The companies studied in terms of product strategy and various n several growth and expansion strategies to gain a competitive edge in the market. The major players not only follow value chain integration with business operations in multiple stages of the value chain.

• In September 2020, Proterra launched the ZX5, which is a fifth-generation battery-electric transit bus presenting a new streamlined vehicle design. The new Proterra ZX5 40 ft. electric bus can be installed with 660KW of energy storage which can supply up to 329 miles of drive range.
• In September 2020, Yutong, in a live show in China launched its 5G-enabled intelligent mobility solution. Autonomous driving buses, intelligent bus stops, and unmanned intelligent bus terminals were displayed.
• In September 2020, Mercedes-Benz, a division of Daimler AG, launched its new all-electric eCitaro G, which is optionally installed with innovative solid-state batteries.
• In July 2020, Volvo Penta, a subsidiary of AB Volvo, developed an electric driveline for a major fire service vehicle manufacturer; Rosenbauer’s pioneering fire truck, allowing an innovative new solution with no exhaust emissions and vitally minimized noise levels.
• In March 2020, BYD launched its Blade Battery, a development set to reduce concerns regarding the battery safety in electric vehicles.

The global Electric Commercial Vehicle (ECV) Market has been segmented as below:

Electric Commercial Vehicle (ECV) Market, By Propulsion

• Battery Electric Vehicle
• Hybrid Electric Vehicle and Plug-In Hybrid Electric Vehicle
• Fuel Cell Electric Vehicle

Electric Commercial Vehicle (ECV) Market, By Vehicle

• Bus
• Trucks
• Pick-Up Trucks
• Van

Electric Commercial Vehicle (ECV) Market, By Range

• 0-150 Miles
• 151-250 Miles
• 251-500 Miles
• 500 Miles & Above

Electric Commercial Vehicle (ECV) Market, By Component

• Electric Motor
• EV Battery
• Hydrogen Fuel Cell

Electric Commercial Vehicle (ECV) Market, By Region

• Europe
• North America
• Asia Pacific
• Rest of The World

Electric Commercial Vehicle (ECV) Market, By Company

• AB Volvo
• Ankai
• Arrival
• Atlis Motor Vehicles
• Blue Bird Corporation
• Bollinger Motors
• BYD
• CAF
• Changsha Sunda New Energy Technology Co. Ltd.
• Chanje Energy
• Daimler AG
• Ebusco B.V.
• Emoss Mobile Systems B.V.
• InfraPrimeLogistics Technologies Pvt. Ltd. (IPLT)
• Irizar
• Kaiyun Motors
• King Long
• NFI Group
• Nikola Motor Company
• Proterra
• Rivian
• Scania
• Tata Motors
• VDL Groep
• Workhorse Group

The report covers the below scope:

• Global Electric Commercial Vehicle (ECV) Market sizes from 2020 to 2026, along with CAGR for 2020-2026
• Market size comparison for 2019 vs 2026, with actual data for 2019, estimates for 2019 and forecast from 2020 to 2026
• Global Electric Commercial Vehicle (ECV) Market trends, covering comprehensive range of consumer trends & manufacturer trends
• Value chain analysis covering participants from raw material suppliers to the downstream buyer in the global Electric Commercial Vehicle (ECV) Market
• Major market opportunities and challenges in forecast timeframe to be focused
• Competitive landscape with analysis on competition pattern, portfolio comparisons, development trends and strategic management
• Comprehensive company profiles of the key industry players

The years considered for the study are as follows:

• Base year - 2019
• Estimated year - 2019
• Projected year - 2020
• Forecast period - 2021 to 2026

Report Scope:

The global Electric Commercial Vehicle (ECV) Market report scope includes detailed study covering underlying factors influencing the industry trends. The report covers analysis on regional and country level market dynamics. The scope also covers competitive overview providing company market shares along with company profiles for major revenue contributing companies. The report scope includes detailed competitive outlook covering market shares and profiles key participants in the global Electric Commercial Vehicle (ECV) Market share. Major industry players with significant revenue share include AB Volvo, Ankai, Arrival, Ashok Leyland, Atlis Motor Vehicles, Blue Bird Corporation and others.

Why to Buy this Report:

• Gain detailed insights on the Electric Commercial Vehicle (ECV) industry trends
• Find complete analysis on the market status
• Identify the Electric Commercial Vehicle (ECV) Market opportunities and growth segments
• Analyse competitive dynamics by evaluating business segments & product portfolios
• Facilitate strategy planning and industry dynamics to enhance decision making

Target Audience:

• The report targeted towards the existing players in the industry is as follows:
• Market Manufacturers/Service Providers
• Market Wholesale/Traders
• Investment and Financial Institutions

Free and Paid Customization based on the requirement

1.     Introduction

1.1.      Key Points

1.2.     Report Description

1.3.     Markets Covered

1.4.     Stakeholders

2.    Research Methodology

2.1.     Research Scope

2.2.    Research Methodology

2.2.1.     Market Research Process

2.2.2.    Research Methodology

2.2.2.1.         Secondary Research

2.2.2.2.        Primary Research

2.2.2.3.        Models for Estimation

2.3.    Market Size Estimation

2.3.1.     Bottom-Up Approach

2.3.2.    Top-Down Approach

3.    Executive Summary

4.    Market Overview

4.1.     Introduction

4.2.    Drivers

4.3.    Restraints

4.4.    Opportunities

4.5.    Challenges

5.    Electric Commercial Vehicle (ECV) Market, By Propulsion

5.1.     Key Points

5.2. Battery Electric Vehicle

5.3.  Hybrid Electric Vehicle and Plug-In Hybrid Electric Vehicle

5.4. Fuel Cell Electric Vehicle

6.    Electric Commercial Vehicle (ECV) Market, By Vehicle

6.1.     Key Points

6.2. Bus

6.3. Trucks

6.4. Pick-Up Trucks

6.5. Van

7.    Electric Commercial Vehicle (ECV) Market, By Range

7.1.     Key Points

7.2.  0-150 Miles

7.3.  151-250 Miles

7.4.  251-500 Miles

7.5.  500 Miles & Above

8.    Electric Commercial Vehicle (ECV) Market, By Component

8.1.     Key Points

8.2. Electric Motor

8.3. EV Battery

8.4. Hydrogen Fuel Cell

9.    Competitive Landscape

9.1.     Introduction

9.2.    Start-up companies- Electric Commercial Vehicle (ECV) Market

9.3.    Recent Developments

9.3.1.     Mergers & Acquisitions

9.3.2.    New Product Developments

9.3.3.    Portfolio/Production Capacity Expansions

9.3.4.    Joint Ventures, Collaborations, Partnerships & Agreements

9.3.5.    Others

10.          Company Profile

10.1. AB Volvo

10.2.    Ankai

10.3.    Arrival

10.4.    Ashok Leyland

10.5.    Atlis Motor Vehicles

10.6.    Blue Bird Corporation

10.7.    Bollinger Motors

10.8.   BYD

10.9.    CAF

10.10.Changsha Sunda New Energy Technology Co. Ltd.

10.11.  Chanje Energy

10.12. Daimler AG

10.13. Ebusco B.V.

10.14. Emoss Mobile Systems B.V.

10.15. InfraPrimeLogistics Technologies Pvt. Ltd. (IPLT)

10.16. Irizar

10.17. Kaiyun Motors

10.18. King Long

10.19. NFI Group

10.20.    Nikola Motor Company

10.21.     Proterra

10.22.    Rivian

10.23.    Scania

10.24.    Tata Motors

10.25.    VDL Groep

10.26.    Workhorse Group