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Electric Commercial Vehicles Global Market Report 2020-30: Covid 19 Growth and Change

Region:Global

Product Code:7480

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Published On

May 2020

Total pages

200 Table of Content

Market Overview
Scope Of The Report
Product covered
Table Of Content
Research Methodology
FAQs

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About the Report

Major players in the electric commercial vehicles market are BYD, Proterra, AB Volvo, Daimler AG, Nissan, ABB, Scania AB, Tesla, Nikola Motor Company, and Tata Motors.

The global electric commercial vehicles market is expected to decline from USD 48.54 billion in 2019 to USD 40.7 billion in 2020 at a compound annual growth rate (CAGR) of -16.06%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and reach USD 96.85 billion in 2023 at CAGR of 21.8%.

The electric commercial vehicles market consists of sales of electric commercial vehicles and related services. Electric commercial vehicles are electrically-powered, self-propelled electric vehicles used for transportation that helps reduce greenhouse gas releases (GHG) and pollution, that works with the help of both electric motors working in tandem. Electric commercial vehicles are used for the delivery of goods and for transport, such as passengers, that are powered by batteries and includes buses, trucks, vans and pick-up trucks.

Asia Pacific was the largest market in electric commercial vehicles market in 2019 and is expected to be the fastest growing market in the forecast period.

Electric commercial vehicle companies are implementing strategic partnerships for the production of electric commercial vehicles. Strategic partnerships in electric commercial vehicles involves sharing of resources and expertise that enhances the product and multiplies the result. It attracts popularity from consumers and other stakeholders, helping to increase the investment while reducing costs. For instance, in 2020, in South Korea, Hyundai Motor Company and Kia Motors Corporation strategically partnered and is investing EUR100 million (US USD 110 million) in a UK-based electric vehicle startup company 'Arrival' for developing electric commercial vehicles such as eco-friendly vans and commercial vehicles for logistics.

The electric commercial vehicles market covered in this report is segmented by propulsion type into BEV; PHEV; FCEV. It is also segmented by vehicle type into electric bus; electric truck; electric pick-up truck; electric van, by battery type into lithium-iron-phosphate (LFP); lithium-nickel-manganese-cobalt oxide (NMC); others and by technology into battery electric commercial vehicles; plug-in hybrids; hybrids; fuel cell electric commercial vehicles.

The growth of the electric commercial vehicle market is restrained by limited battery power and longer charging duration. For electric commercial vehicles, the range and performance of the battery is typically less powerful and has a limited range (60-100 miles per charge) and is considered suitable only for short-distance travel. The limited travel range of batteries of electric vehicles raises concerns among the consumers that their vehicles may run out of charge/power before reaching the destination. Longer charging duration is another major challenge for the market. Lack of availability of supercharging stations adds to the woes associated with the use of batteries in an electric vehicle.

In August 2019, Dana Inc., a USA-based company specialized in manufacturing components and systems for hybrid and electric vehicles such as commercial vehicles, acquired Nordrsea Motors Inc. for an undisclosed amount. The acquisition is expected to help Dana Inc. to enhance its electrification capabilities by integrating its full range of inverters, motors, thermal management products, chargers and gearboxes with Nordresa's battery technology, integration expertise and electrical powertrain controls to provide electrical powertrain systems. Nordrsea Motors Inc. is a Canada-based company that specializes in developing, manufacturing and commercializing electric drivetrains for commercial vehicles.

During the historic period, government subsidies on electric commercial vehicles contributed to the electric commercial vehicles market's growth. For instance, in July 2019, in India, the government of India provided subsidies for promoting electric commercial vehicles. The Minister of State for Heavy Industries and Public Enterprises at the 'India UK Electric Mobility Forum 2019', stated that the government of India, under the INR 10,000 crore FAME scheme, is promoting electric commercial vehicles through commercial fleet owners. The subsidies were given to three and four wheeler electric vehicles for commercial and fleet applications. The support from the government to promote use of commercial electrical vehicles is driving the market.

Scope of the Report

Products

1) By Propulsion Type: BEV; PHEV; FCEV 2) By Vehicle Type: Electric Bus; Electric Truck; Electric Pick-up Truck; Electric Van 3) By Battery Type: Lithium-iron-phosphate (LFP); Lithium-nickel-manganese-cobalt oxide (NMC); Others 4) By Technology: Battery Electric Commercial Vehicles; Plug-in Hybrids; Hybrids; Fuel Cell Electric Commercial Vehicles

Companies

BYD; Proterra; AB Volvo; Daimler AG; Nissan; ABB; Scania AB; Tesla; Nikola Motor Company; Tata Motors; EBUSCO; Emoss Mobile Systems; ZHONGTONGBUS Bus Holding Co., Ltd; Ashok Leyland Ltd.; Dongfeng Motor Corp.; Hino Motors Ltd.; Isuzu Motors Ltd.; Iveco S.p.A.; Workhorse Group Inc.; LG Chem; Panasonic; Delphi; Continental; Siemens; Mitsubishi Electric; Toshiba; Ballard Power Systems; Yutong; VDL Groep; CAF; Olectra Greentech

1. Executive Summary

2. Electric Commercial Vehicles Market Characteristics

3. Electric Commercial Vehicles Market Size And Growth

3.1. Global Electric Commercial Vehicles Historic Market, 2015-2019, USD Billion

3.1.1. Drivers Of The Market

3.1.2. Restraints On The Market

3.2. Global Electric Commercial Vehicles Forecast Market, 2019-2023F, 2025F, 2030F, USD Billion

3.2.1. Drivers Of The Market

3.2.2. Restraints On the Market

4. Electric Commercial Vehicles Market Segmentation

4.1. Global Electric Commercial Vehicles Market, Segmentation By Propulsion Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

BEV

PHEV

FCEV

4.2. Global Electric Commercial Vehicles Market, Segmentation By Vehicle Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

Electric Bus

Electric Truck

Electric Pick-up Truck

Electric Van

4.3. Global Electric Commercial Vehicles Market, Segmentation By Battery Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

Lithium-iron-phosphate (LFP)

Lithium-nickel-manganese-cobalt oxide (NMC)

Others

4.4. Global Electric Commercial Vehicles Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

Battery Electric Commercial Vehicles

Plug-in Hybrids

Hybrids

Fuel Cell Electric Commercial Vehicles

5. Electric Commercial Vehicles Market Regional And Country Analysis

5.1. Global Electric Commercial Vehicles Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

5.2. Global Electric Commercial Vehicles Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

6. Asia-Pacific Electric Commercial Vehicles Market

6.1. Asia-Pacific Electric Commercial Vehicles Market Overview

6.2. Asia-Pacific Electric Commercial Vehicles Market, Segmentation By Propulsion Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

6.3. Asia-Pacific Electric Commercial Vehicles Market, Segmentation By Vehicle Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

7. China Electric Commercial Vehicles Market

7.1. China Electric Commercial Vehicles Market Overview

7.2. China Electric Commercial Vehicles Market, Segmentation By Propulsion Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F,USD Billion

7.3. China Electric Commercial Vehicles Market, Segmentation By Vehicle Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F,USD Billion

8. India Electric Commercial Vehicles Market

8.1. India Electric Commercial Vehicles Market Overview

8.2. India Electric Commercial Vehicles Market, Segmentation By Propulsion Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

8.3. India Electric Commercial Vehicles Market, Segmentation By Vehicle Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

9. Japan Electric Commercial Vehicles Market

9.1. Japan Electric Commercial Vehicles Market Overview

9.2. Japan Electric Commercial Vehicles Market, Segmentation By Propulsion Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

9.3. Japan Electric Commercial Vehicles Market, Segmentation By Vehicle Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

10. Australia Electric Commercial Vehicles Market

10.1. Australia Electric Commercial Vehicles Market, Segmentation By Propulsion Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

10.2. Australia Electric Commercial Vehicles Market, Segmentation By Vehicle Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

11. Indonesia Electric Commercial Vehicles Market

11.1. Indonesia Electric Commercial Vehicles Market, Segmentation By Propulsion Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

11.2. Indonesia Electric Commercial Vehicles Market, Segmentation By Vehicle Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

12. South Korea Electric Commercial Vehicles Market

12.1. South Korea Electric Commercial Vehicles Market, Segmentation By Propulsion Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

12.2. South Korea Electric Commercial Vehicles Market, Segmentation By Vehicle Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

13. Western Europe Electric Commercial Vehicles Market

13.1. Western Europe Electric Commercial Vehicles Market Overview

13.2. Western Europe Electric Commercial Vehicles Market, Segmentation By Propulsion Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

13.3. Western Europe Electric Commercial Vehicles Market, Segmentation By Vehicle Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

14. UK Electric Commercial Vehicles Market

14.1. UK Electric Commercial Vehicles Market Overview

14.2. UK Electric Commercial Vehicles Market, Segmentation By Propulsion Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

14.3. UK Electric Commercial Vehicles Market, Segmentation By Vehicle Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

15. Germany Electric Commercial Vehicles Market

15.1. Germany Electric Commercial Vehicles Market, Segmentation By Propulsion Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

15.2. Germany Electric Commercial Vehicles Market, Segmentation By Vehicle Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

16. France Electric Commercial Vehicles Market

16.4. France Electric Commercial Vehicles Market, Segmentation By Propulsion Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

16.5. France Electric Commercial Vehicles Market, Segmentation By Vehicle Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

17. Eastern Europe Electric Commercial Vehicles Market

17.1. Eastern Europe Electric Commercial Vehicles Market Overview

17.2. Eastern Europe Electric Commercial Vehicles Market, Segmentation By Propulsion Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

17.3. Eastern Europe Electric Commercial Vehicles Market, Segmentation By Vehicle Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

18. Russia Electric Commercial Vehicles Market

18.1. Russia Electric Commercial Vehicles Market, Segmentation By Propulsion Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

18.2. Russia Electric Commercial Vehicles Market, Segmentation By Vehicle Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

19. North America Electric Commercial Vehicles Market

19.1. North America Electric Commercial Vehicles Market Overview

19.2. North America Electric Commercial Vehicles Market, Segmentation By Propulsion Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

19.3. North America Electric Commercial Vehicles Market, Segmentation By Vehicle Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

20. USA Electric Commercial Vehicles Market

20.1. USA Electric Commercial Vehicles Market Overview

20.2. USA Electric Commercial Vehicles Market, Segmentation By Propulsion Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

20.3. USA Electric Commercial Vehicles Market, Segmentation By Vehicle Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

21. South America Electric Commercial Vehicles Market

21.1. South America Electric Commercial Vehicles Market Overview

21.2. South America Electric Commercial Vehicles Market, Segmentation By Propulsion Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

21.3. South America Electric Commercial Vehicles Market, Segmentation By Vehicle Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

22. Brazil Electric Commercial Vehicles Market

22.1. Brazil Electric Commercial Vehicles Market, Segmentation By Propulsion Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

22.2. Brazil Electric Commercial Vehicles Market, Segmentation By Vehicle Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

23. Middle East Electric Commercial Vehicles Market

23.1. Middle East Electric Commercial Vehicles Market Overview

23.2. Middle East Electric Commercial Vehicles Market, Segmentation By Propulsion Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

23.3. Middle East Electric Commercial Vehicles Market, Segmentation By Vehicle Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

24. Africa Electric Commercial Vehicles Market

24.1. Africa Electric Commercial Vehicles Market Overview

24.2. Africa Electric Commercial Vehicles Market, Segmentation By Propulsion Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

24.3. Africa Electric Commercial Vehicles Market, Segmentation By Vehicle Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

25. Electric Commercial Vehicles Market Competitive Landscape And Company Profiles

25.1. Electric Commercial Vehicles Market Competitive Landscape

25.2. Electric Commercial Vehicles Market Company Profiles

25.2.1. BYD

25.2.1.1. Overview

25.2.1.2. Products and Services

25.2.1.3. Strategy

25.2.1.4. Financial Performance

25.2.2. Proterra

25.2.2.1. Overview

25.2.2.2. Products and Services

25.2.2.3. Strategy

25.2.2.4. Financial Performance

25.2.3. AB Volvo

25.2.3.1. Overview

25.2.3.2. Products and Services

25.2.3.3. Strategy

25.2.3.4. Financial Performance

25.2.4. Daimler AG

25.2.4.1. Overview

25.2.4.2. Products and Services

25.2.4.3. Strategy

25.2.4.4. Financial Performance

25.2.5. Nissan

25.2.5.1. Overview

25.2.5.2. Products and Services

25.2.5.3. Strategy

25.2.5.4. Financial Performance

26. Key Mergers And Acquisitions In The Electric Commercial Vehicles Market

27. Electric Commercial Vehicles Market Trends And Strategies

28. Electric Commercial Vehicles Market Future Outlook and Potential Analysis

29. Appendix

29.1. Abbreviations

29.2. Currencies

29.3. Research Inquiries

29.4. The Business Research Company

29.5. Copyright And Disclaimer

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