Electric Commercial Vehicle Market to Worth USD 1747.48 Billion by 2030 | Skyquest Technology
Electric commercial vehicle market is segmented on the basis of type, vehicle type, charger. By vehicle type, the market is segmented into bus, truck, others. By type, market is segmented into BEV, FCEV, PHEV, HEV. by charger the market is segmented into normal and fast- Industry forecast 2023-2030
Westford, USA, Jan. 17, 2024 (GLOBE NEWSWIRE) -- According to SkyQuest, advances in battery technology have incontestably revolutionized the landscape of the electric commercial vehicle market. The development of longer-lasting and faster-charging batteries has significantly bolstered the practicality and cost-effectiveness of electric commercial vehicles with ongoing research and innovation.
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*Browse in-depth TOC on the "Electric Commercial Vehicle Market" *
· Pages - 157
· Tables - 62
· Figures – 77
The expansion of charging infrastructure is undeniably a pivotal trend in the electric commercial vehicle market. It is a fundamental requirement to facilitate and sustain the market's growth. Governments and businesses worldwide recognize the urgency of this need and are making substantial investments in developing extensive charging networks.
*Report Scope & Segmentation: *
*Attributes* *Details*
Market Size in 2022 USD 381.17 Billion
2030 Value Projection USD 1747.48 Billion
CAGR 24.3%
Forecast Period 2023-2030
Segments Covered · Type
· Vehicle Type
· Charger
Regions Covered · North America
· Europe
· Asia Pacific
· Latin America
· Middle East and Africa
*Prominent Players in the Electric Commercial Vehicle Market*
· Tesla, Inc.
· Daimler AG
· Volvo Group
· BYD Auto Co., Ltd.
· Proterra Inc.
· Wrightspeed Inc.
· Cummins Inc.
· Dongfeng Motor Corporation
· Hino Motors Ltd.
· Scania AB
· Navistar International Corporation
· Nikola Motor Company
· Tata Motors Limited
· VDL Groep
· Rivian Automotive LLC
· Chanje Energy Inc.
· Arrival Ltd.
· Foton Motor Group
· Lion Electric Company
· Mahindra & Mahindra Ltd.
· Xpeng Inc.
· NFI Group Inc.
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https://www.skyquestt.com/report/electric-commercial-vehicle-market
*Fuel Cell Electric Vehicle Segment is Expected to Grow in the Market Due to its Growth and Innovation*
Fuel cell electric vehicle (FCEV) segment is experiencing remarkable growth and innovation in the electric commercial vehicle market. FCEVs operate on a groundbreaking technology where electricity is generated through the electrochemical reaction of hydrogen fuel with oxygen in the air, powering an electric motor.
The markets in North America have experienced substantial enhancements, particularly in logistics assistance in the electric commercial vehicle market. Developed countries such as the United States, Canada, and Germany have played a pivotal role in shaping these improvements, leveraging their forward-thinking approaches to public transportation and logistics.
*Normal Charger Segment is Expected to Dominate the Market Due to Increasing Demand for Fast-Charging Solutions*
Normal charger segment has long been the dominant player in the electric commercial vehicle market, catering to users who rely on overnight charging at home or the workplace. These chargers typically deliver a steady charging speed of 6-7 kW, making them reliable options for daily use.
Regional markets in the Asia-Pacific region emerged as the undisputed electric commercial vehicle market leader, constituting over 60% of global sales. China played a pivotal role in this achievement, accounting for 41% of all electric vehicle sales worldwide.
A comprehensive analysis of the major players in the electric commercial vehicle market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
*Key Developments in the Electric Commercial Vehicle Market*
· In 2022, BYD Auto Industry Company Limited, commonly referred to as "BYD," joined forces with Mobility Solutions Auto Trade Company to host a significant press conference. This event officially introduced BYD's passenger vehicles into the market. During the conference, both companies unveiled various popular new energy passenger vehicle models, showcasing BYD's commitment to advancing sustainable transportation solutions in the region.
· In 2022, Farizon New Energy Commercial Vehicles, a subsidiary of Geely, achieved another milestone in the global electric commercial vehicle market. They completed the official delivery of their E200S mini-trucks to Chile following a successful shipment to Costa Rica in June 2022.
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*Key Questions Answered in Electric Commercial Vehicle Market Report*
· What specific growth drivers are projected to impact the market during the forecast period?
· List the top companies in the market and explain how they have achieved their positions of influence.
· In what ways do regional trends and patterns differ within the global market, and how these differences shape the market's future growth?
*Related Reports in SkyQuest’s Library:*
Global Taxi Market
Global Electric Truck Market
Global Electric Commercial Vehicle Market
Global Road Haulage Market
Global Commercial Vehicle Market
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