Report Description Table of Contents Industry Report and Statistics (Facts & Figures) - Sales Volume, ASP & Demand by Battery & Vehicle Type The global electric commercial vehicle market will witness a robust CAGR of 35%, valued at $76.95 billion in 2022, poised to appreciate & reach $848.94 billion by 2030, confirms Strategic Market Research. Asia-Pacific controls 45% of the global electric commercial vehicle market and is expected to dominate due to the presence of leading commercial vehicle manufacturers in the region. Electricity is used to power commercial electric vehicles instead of diesel or petrol. ECVs could be buses, vans, trucks, tractors/harvesters for farming, excavators, or wheel loaders for building materials. Electric commercial vehicles are propelled by an onboard rechargeable battery. ECVs mark a significant shift in the transportation industry, aiming to reduce emissions, lower operational costs, and enhance sustainability. Electric buses are being adopted by cities worldwide, providing quieter, cleaner, and more sustainable transportation options. Due to the rise in E-commerce, companies like Amazon and UPS are electrifying last-mile-delivery services by 2030. The electric commercial vehicle market is proliferating due to public awareness of electric vehicles and also to address the threats to the environment that are caused because of crude oil and gasoline. The declining cost of electric vehicle and increased battery performance to travel longer miles helps the growth of commercial electric vehicle. From the Paris agreement, to reduce emissions, governments around the globe, like the USA, China, Japan, India, and Canada, have targeted electrification by 2050. According to McKinsey, the growth of commercial electric vehicles has increased because private and large commercial customers are decarbonizing their vehicle fleets as part of their global sustainable goals. Research shows that e-trucks will cover 27% of the market while e-buses will cover 82% of the commercial transportation of the world. Companies like Volvo, Tesla, Ford, GM, and Rivian are expected to launch electric commercial vehicles in all segments. Batteries inculcate high costs, but with technological advancements, battery efficiency will likely increase and boost the demand for commercial electric vehicles. Commercial electric vehicles will help reduce carbon emissions and protect the environment. Electric commercial vehicles have cheaper operational costs when compared with traditional commercial vehicles and save around 75% in the long run. Key Industry Drivers - (Improved Battery performance and Technological advancements, Government initiatives will proliferate the demand for Commercial Electric Vehicles) With rising fuel prices and operating costs, automakers are now considering alternative fuel vehicles such as commercial electric cars which have lower operating costs than traditional commercial vehicles. The second-largest source of greenhouse gas emissions is transportation. Researchers, business associations, and governments worldwide are deeply concerned with addressing this issue and minimizing the industry's contribution to climate change. Technological advancements have increased battery performance making electric vehicles a more viable option. It has been revealed that innovative battery technology reduces the charging time for EVs to 72 seconds. This is due to a hybrid system that utilizes conventional battery and ultracapacitor technologies. This combination of battery and ultracapacitor could significantly increase the consumer’s uptake of EVs. Researchers at Stanford University have developed an electrolyte that is fire-proof even at extreme temperatures of over 140F. This solution involves adding lithium salt to a polymer electrolyte, increasing the lithium salt content from less than half to 63% by weight. The lithium salt is an anchor for highly-flammable solvent molecules, allowing lithium-ion batteries to continue operating at temperatures as high as 212F. NAWA technologies have developed a carbon nanotube electrode to boost battery potential, energy-storing capacity, and battery lifecycle. The Chalmers University of Technology has focused on incorporating batteries as structural elements. Texas has explored cobalt-free batteries, Finland has developed silicon anode batteries, and IBM to build seawater batteries and sand batteries. These drivers are expected to continue driving growth in the commercial EV market in the coming years. The market for electric commercial vehicles has grown in importance as more people want to switch to electric vehicles. Governments in various nations work to improve public transportation by converting it to electricity, which lowers carbon emissions and is more affordable, secure, quieter, and appealing. One of the main motives for government agencies to support zero emission cars over petrol or diesel ones is worries about the changing environment brought on by the automobile industry's excessive pollution. For instance, 8 million city buses were in use worldwide by the end of 2020, as per the Bloomberg New Energy Finance; of these, 885,000 are electric buses. Hence, it would be more accurate to state that around 11.06% percent of city buses are electric buses. Moreover, the market for electric buses and trucks is anticipated to have significant expansion in the upcoming years as a result of rising government measures targeted at recovering the economy in the wake of the Covid-19 crisis. Due to the rising costs of conventional fuels, several logistics organizations have also switched to using electric trucks to reduce costs. The creation of low-emission zones, strict emissions standards, and ultra-low NOx laws will support the expansion of the market for electric commercial vehicles. Restraints (Lower Availability of Lithium and insufficient EV infrastructure) Lithium is critical for producing batteries in power commercial electric vehicles. With the growing adoption of commercial electric vehicles, there is a concern about the availability of Lithium. According to McKinsey, by 2030, the demand for Lithium will be 4 million metrics ton, and currently, the average global production of Lithium is 100k metric tons. The reason for the lower availability of Lithium is that it's a finite resource primarily mined in a few countries like Australia, Chile, and China. Additionally, the cost of production and potential environmental consequences of increasing demand for Lithium are essential factors to consider. The lower availability of Lithium is a significant restraint for the commercial electric vehicle market because it is a critical component of batteries, and any disruption in its production could significantly impact the market. Insufficient EV infrastructure is a significant restraint for the electric commercial vehicle market, as it can limit the adoption and use of these vehicles. There were 130,000 charge stations in the US as of March 2023, although many locations still need more charging infrastructure. The major restraints for commercial electric vehicles are the higher initial cost of charging infrastructure and the need for infrastructure maintenance. The unavailability of standardization in charging is a restraint, as there are 50-60 different charging standards in the USA. Opportunities ( Sustainability in Logistics and Autonomous Delivery) The electric transition of trucks has the potential to decrease the carbon footprint, so many manufacturers are contributing towards a sustainable commercial solution. To support sustainability, GM promised 5,000 EV600 trucks for Walmart. Companies like Ford and Rivian have continued to try replacing diesel-operated vehicles with battery-operated vehicles that will travel long distances without any CO2 emission. With BrightDrop, an E-Van by General Motors, 75% cost cutting can be done compared to traditional vans. In the USA, 30% of greenhouse emission is from commercial transport. Sustainable electric commercial vehicles can tackle the problem of greenhouse emissions by increasing the number of commercial electric vehicles primarily used in logistics. The autonomous delivery system is proliferating in developed countries with the sudden rise in the E-commerce market. The AD system is expected to grow with a CAGR of 11.21% and reach $210 billion by 2030. The main reasons behind the growth of autonomous delivery are the rise in E-commerce customers, last-mile delivery, ever-increasing population, and technological advancements. Types of autonomous vehicles could be sidewalk vehicles, on-road delivery vans, and autonomous trucks. The benefits of autonomous delivery are reduced transportation costs with better interconnectivity between modes of transportation, lower price of operation and maintenance, zero carbon emission, increased lane capacity, less traffic congestion on the roads, improved last-mile services, and decreased fuel consumption, all contributing to improved fuel economy thereby serving as an opportunity in the commercial EV market. Market Analysis Of Different Segments Covered in the Report This report includes a thorough analysis of market revenue using both quantitative & qualitative intelligence and market forecasts. This research breaks down the market into broad and specialized divisions. This research report also examines market sales growth and its global, regional, and national trajectory from 2021 to 2030. It divides the market and estimates its revenue by segmenting it into various parts: Based on Component Fuel Stack Humidifier Battery Cells & Packs Air Compressor On-Board Charge Power Conditioner Motor Fuel Processor Reducer Battery Management System Power Control Unit Based on Vehicle Type, Van Bus Truck Pickup Truck Based on Battery Type, Solid-state battery Nickel-manganese-cobalt (NMC) Lithium-iron-phosphate (LFP) Others Based on Battery Capacity, <150 Miles 150 to 300 Miles >300 Miles Based on Propulsion, Plug-in Hybrid Electric Vehicle (PHEV) Battery Electric Vehicle (BEV) Fuel Cell Electric Vehicle (FCEV) Based on End User, Field Services Refuse Services Long Haul Transportation Last Mile Delivery Distribution Based on Payload Capacity of Truck, <10,000 LBS 10,001 to 26,000 LBS >26,001 LBS Based on Electric Autonomous Vehicle, Electric Autonomous Bus Electric Autonomous Truck Based on Bus Length, <9m 9 to 14m >14m Regional Coverage Analysis Asia Pacific South Korea China Japan India North America United States of America Canada Europe Italy United Kingdom Austria Switzerland Belgium Sweden Denmark Spain France Portugal Germany Norway Ireland Netherland Propulsion Analysis & Insights By propulsion type, Battery Electric Vehicle(BEV) has the largest market share with 45% and is growing with a constant CAGR. Battery electric vehicles (BEVs) dominate the commercial electric vehicle industry for various reasons, like they do not produce exhaust emissions. BEVs are an attractive alternative for companies aiming to cut their carbon footprint and achieve emissions objectives. BEVs emit substantially fewer pollutants than conventional gasoline-powered cars, and fleet managers in many countries with tight emissions rules found them a desirable alternative. Battery electric vehicle technology is developing quickly, making cars more useful for business via continuous advancements in battery size, range, and charging infrastructure. BEVs are exceptionally well suited for local deliveries, where the range restrictions are often less of a concern. End User Analysis & Insights The commercial electric vehicle market is divided into segments based on end-user, Field Services, Refuse Services, Long Haul Transportation, Last Mile Delivery, and Distribution. Exponential growth is expected in the field of last-mile delivery due to low cost, high speed, more cargo space, and flexibility. The rapid increase in online sales and E-commerce growth has predicted a 20-40% growth in last-mile delivery. With the growing demand for last-mile delivery and increasing pollution, replacing diesel vehicles with battery-operated vehicles will help reduce carbon emissions. Research by International Council for Clean Transportation (ICCT) and the Regulatory Assistance Project (RAP) shows that electric trucks' operating costs are cheaper than diesel trucks. Government subsidies and smart charging options will accelerate the electric transition. Walmart has purchased 4,500 electric trucks in support of growing E-commerce deliveries which is one of the reason behind the dominance of the last mile delivery segment. Battery Capacity Analysis & Insights Based on battery capacity, the global market for electric commercial vehicles is divided into < 150 miles, 150–300 miles, & > 300 miles. <150 miles capacity electric commercial vehicles will dominate the market due to end users growing adoption of last-mile delivery for logistics and distributions. A predefined and optimal path will improve the efficiency of the electric commercial vehicle and reduce transportation costs. The <150 miles include small vans and trucks required to transport goods across highways or within cities. This market segment's revenue is expected to increase throughout the forecast period due to these vehicles' affordable prices and efficiency. Vehicle Type Analysis & Insights Based on Vehicle Type, Electric vans are closed wagons or motor trucks powered by an electric engine and connected to the electricity grid. They are anticipated to make up the largest vehicle type category in the market for electric commercial vehicles. Renault (France), Nissan Motor Corporation (Japan), Toyota Motor Corporation (Japan), London Electric Vehicle Company (United Kingdom), Ford Motor Company (U.S.), Mahindra & Mahindra LTD. (India), and Volkswagen AG are major players in the global electric van market. For instance, PEUGEOT (France) will introduce the new PEUGEOT e-Partner, the brand's newest light duty vehicle (LCV), which will be marketed as a complete electric commercial vehicle, in January 2021, extending the range of its electric vans. The market for electric vans used for a variety of applications, including last mile delivery & distribution services, is anticipated to increase. Due to their cheaper operating costs, minimal hazardous emissions, and different government subsidies, electric vans would see an increase in demand throughout the forecasted period. Regional Analysis & Insights • Asia-Pacific is estimated to have the highest market share compared to other regions and is growing with a constant CAGR. China is the key contributor to the market share as China has 99% of the world's electric buses and is expected to dominate. BEV sales in China alone have increased by 60%. With technological advancements and Asia being the leading manufacturer of commercial vehicles, the commercial electric vehicle market is expected to lead in the APAC region. Many government subsidies and regulations have encouraged EV adoption. • North America is the second largest contributor to the commercial electric vehicle market and is fast growing. Last-mile delivery with growth in E-commerce and government regulation to reduce CO2 emissions have increased public awareness and thus boosted the electric commercial vehicle market. According to the Safer Affordable Fuel-Efficient (SAFE), car regulation will be implemented in the United States from 2022 to 2026 for passenger and commercial cars. Automakers must sell a certain quantity of zero-emission cars under the Zero-emission Cars (ZEV) program. SAFE expects that by 2030, 12 million ZEVs, including buses, will be on the road. Electric Commercial Vehicle Market Report Coverage Report Attribute Details Forecast Period 2021 - 2030 Market size value in 2021 USD 57 Billion The Revenue forecast in 2030 USD 848.94 Billion Electrical Commercial Vehicle Market Growth rate 35 % The base year for estimation 2021 Historical data 2017 - 2020 Segments covered Component, Region, Battery Type, Battery Range, End-user, Propulsion, Vehicle Type, Battery Capacity, Length of the Bus. Regional scope North America, Asia-Pacific, Europe Key companies profiled Proterra, Inc., Ebusco B.V., Zhengzhou Yutong Group Co., Tesla, Inc, BYD Co., Workhorse Group Incorporated, VDL Group B.V., Rivian Automotive, Inc., Volvo Group Electric Commercial Vehicle Market Competitive Landscape Analysis The electric commercial vehicle study offers a competitive landscape based on a careful examination of the significant strategic choices made by the leading industry players in light of recent market developments for electric commercial vehicles. The top industry honchos in the Electric Commercial Vehicle Market are as follows: Proterra, Inc. Ebusco B.V. Zhengzhou Yutong Group Co. Tesla, Inc BYD Co. Workhorse Group Incorporated VDL Group B.V. Rivian Automotive, Inc. Volvo Group Recent Developments On March 2023, Bechtel, North America's largest provider for student transportation, supported electric buses as a step towards sustainability and reducing carbon emissions through electrification. Bechtel is working on the One First Student project to convert 30,000 buses to electric commercial buses by 2030. Bechtel provides various services like engineering, procurement, and construction for the project. On May 2023, BorgWarner, a sustainable supplier, announced that it supplies high-voltage e-fan to commercial OEM manufacturers from North America and Europe. This e-fan can be applied in BEV and low-capacity electric trucks with an operating temperature of -40 to 80 degrees Celsius. This can revolutionize the efficiency of commercial vehicles operating in adverse conditions and help improve battery efficiency. On May 2023, an electric vehicle manufacturer, Mullen Automotive, announced a 1,000-vehicle shipment of Mullen 3, an EV truck. The deliveries are commencing from August 2023, and the purchase order value of the shipment is estimated to be $64 million. Mullen Automotive has taken a step to revolutionize the last mile delivery in the E-commerce sector. Various Devices that Key Market Leaders are Manufacturing: Name Feature Key Player VNR Electric Range: More than 250 Mile. Battery Capacity: 565 Kwh Enhanced Charging capabilities Volvo K7M Transit busses Length: 30.7 feet Height: 128 inches Width: 95.7 inches Wheelbase: 195.2 inches BYD C10 MS Length: 45 feet Height: 160 inches Width: 102 inches Wheelbase: 283.3 inches BYD Frequently Asked Question About This Report How big is the electric commercial vehicle market? The global electric commercial vehicle market size was $57 billion in 2021 and is expected to reach a value of $848.94 billion by 2030. What is the electric commercial vehicle market growth? The global electric commercial vehicle market is expected to grow at a compound annual growth rate (CAGR) of 35% from 2021 to 2030 to reach USD 848.94 billion by 2030. What percentage of trucks are electric? 25 percent of the trucks sold globally are electrically powered. What are the key growth drivers of the market? The major growth drivers for global electric commercial vehicles are as follows: • The cheaper cost of electricity and rising fossil fuel costs will result in increased demand for ECVs. • Government Initiatives will also increase demand for Electric Commercial Vehicles. 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Introduction 1.1. Study Objective 1.2. Market Definition 1.3. Study Scope 1.3.1. Markets Covered 1.3.2. Geographic Scope 1.3.3. Years Considered 1.3.4. Stakeholders 2. Research Methodology 2.1. Data Procurement 2.2. Paid Database 2.2.1. Secondary Data 2.2.1.1. Key Secondary sources 2.2.2. Primary Data 2.2.2.1 Primary sources 2.2.2.2. Key industry insights 2.2.2.3. Primary interviews with experts 2.2.2.4. Key primary respondent list 2.3. Market Size Estimation 2.4. Bottom-Up and Top-Down Approaches 2.4.1. Bottom-Up Approach 2.4.1.1. Approach for arriving at market size by bottom-up analysis 2.4.2. Top-Down Approach 2.4.2.1. Approach for Capturing Market Size by Top-Down Analysis 2.5. Market Breakdown and Data Triangulation 2.6. Research Methodology 2.7. Risk Assessment 3. Executive Summary 3.1 Electric Commercial Vehicle Market: Post-Covid-19 3.1.1 Actual Scenario 3.1.2 Pessimistic Scenario 3.1.3 Optimistic Scenario 3.1.4 Market Summary 4. Industry Outlook 4.1 Market Snapshot 4.2 Electric Commercial Vehicle Market 4.2.1 market, 2021 – 2030 (USD Million) 4.3 Regional Business Analysis 4.3.1 market, by region, 2021 - 2030 (USD Million) 4.4 By Payload Capacity of Truck Business Analysis 4.4.1 market, By Payload Capacity of Truck, 2021 - 2030 (USD Million) 4.5 By Electric Autonomous Vehicle Business Analysis 4.5.1 market, By Electric Autonomous Vehicle Type, 2021 - 2030 (USD Million) 4.6 By Bus Length Business Analysis 4.6.1 market, By Bus Length, 2021 - 2030 (USD Million) 4.7 By Battery Type Business Analysis 4.7.1 market, By Battery Type, 2021 - 2030 (USD Million) 4.8 By Battery Capacity Business Analysis 4.8.1 market, By Battery Capacity, 2021 - 2030 (USD Million) 4.9 By Propulsion Business Analysis 4.9.1 market, By Propulsion, 2021 - 2030 (USD Million) 4.10 By End User Business Analysis 4.10.1 market, By End User, 2021 - 2030 (USD Million) 4.11 By Vehicle Type Business Analysis 4.11.1 market, By Vehicle Type, 2021 - 2030 (USD Million) 4.12 By Component Business Analysis 4.12.1 market, By Component, 2021 - 2030 (USD Million) 4.13 Value Chain Analysis 4.14 Market Variable Analysis 4.14.1 Market Drivers Analysis 4.14.2 Market Restraints Analysis 4.15 Business Environment Analysis Tool 4.15.1 market PEST analysis 4.15.2 market Porter’s analysis 4.16 Penetration & Growth Prospect Mapping 5. Market Dynamics 5.1. Introduction 5.2. Market Dynamics 5.2.1. Drivers 5.2.2. Restraints 5.2.3. Opportunities 5.2.4. Challenges 5.3. Impact of Covid-19 On Market 5.4. Value Chain Analysis 5.5. Ecosystem 5.6. Patent Analysis 5.7. Trade Analysis 5.8. Tariff Analysis 5.9. Case Study Analysis 5.10. Porter’s Five Forces Analysis 5.10.1 Threat of New Entrants 5.10.2 Threat of Substitutes 5.10.3 Bargaining Power of Buyers 5.10.4 Bargaining Power of Suppliers 5.10.5 Degree of Competition 5.11. Electric Autonomous Vehicle Analysis 5.11.1. Trends in Electric Autonomous Vehicle (2014-2021) 5.11.2. Trends in Electric Autonomous Vehicle (2021-2030) 5.12. Pricing Analysis 5.12.1. Average Price Trend Analysis (By Region, By Country) 6. Competitive & Vendor Landscape 6.1. Company Market Share Analysis 6.2. Manufacturers Manufacturing Sites, Area Served, Payload Capacity of Truck 6.3. Market Competitive Situation and Trends 6.4. Manufacturers Mergers & Acquisitions, Expansion Plans 7. Market: By Payload Capacity of Truck Segment Analysis 7.1. Introduction 7.2. Sales Volume & Revenue Analysis (2021-2030) 7.3. <10,000 LBS 7.3.1. <10,000 LBS market, 2021 - 2030 (USD Million) 7.4. 10,001 to 26,000 LBS 7.4.1. 10,001 to 26,000 LBS market, 2021 - 2030 (USD Million) 7.5 >26,001 LBS 7.5.1 >26,001 LBS market, 2021 - 2030 (USD Million) 8. Market: By Electric Autonomous Vehicle Segment Analysis 8.1. Introduction 8.2. Sales Volume & Revenue Analysis (2021-2030) 8.3. Electric Autonomous Bus 8.3.1. Electric Autonomous Bus market, 2021 - 2030 (USD Million) 8.4. Electric Autonomous Truck 8.4.1. Electric Autonomous Truck market, 2021 - 2030 (USD Million) 9. Market: By Bus Length Segment Analysis 9.1. Introduction 9.2. Sales Volume & Revenue Analysis (2021-2030) 9.3. <9m 9.3.1. <9m Market, 2021 - 2030 (USD Million) 9.4. 9 to 14m 9.4.1. 9 to 14m market, 2021 - 2030 (USD Million) 9.5. >14m 9.5.1. >14m market, 2021 - 2030 (USD Million) 10. Market: By End User Segment Analysis 10.1. Introduction 10.2. Sales Volume & Revenue Analysis (2021-2030) 10.3. Field Services 10.3.1. Field Services market, 2021 - 2030 (USD Million) 10.4. Refuse Services 10.4.1. Refuse Services market, 2021 - 2030 (USD Million) 10.5 Long Haul Transportation 10.5.1 Long Haul Transportation market, 2021 - 2030 (USD Million) 10.6 Last Mile Delivery 10.6.1 Last Mile Delivery market, 2021 - 2030 (USD Million) 10.7 Distribution 10.7.1 Distribution market, 2021 - 2030 (USD Million) 11. Market: By Vehicle Type Segment Analysis 11.1. Introduction 11.2. Sales Volume & Revenue Analysis (2021-2030) 11.3. Van 11.3.1. Van market, 2021 - 2030 (USD Million) 11.4. Bus 11.4.1. Bus market, 2021 - 2030 (USD Million) 11.5 Truck 11.5.1 Truck market, 2021 - 2030 (USD Million) 11.6. Pickup Truck 11.6.1. Pickup Truck market, 2021 - 2030 (USD Million) 12. Market: By Component Segment Analysis 12.1. Introduction 12.2. Sales Volume & Revenue Analysis (2021-2030) 12.3. Fuel Stack 12.3.1. Fuel Stack market, 2021 - 2030 (USD Million) 12.4. Humidifier 12.4.1. Humidifier market, 2021 - 2030 (USD Million) 12.5 Battery Cells & Packs 12.5.1 Battery Cells & Packs market, 2021 - 2030 (USD Million) 12.6. Air Compressor 12.6.1. Air Compressor market, 2021 - 2030 (USD Million) 12.7. On-Board Charge 12.7.1. On-Board Charge market, 2021 - 2030 (USD Million) 12.8. Power Conditioner 12.8.1. Power Conditioner market, 2021 - 2030 (USD Million) 12.9. Motor 12.9.1. Motor market, 2021 - 2030 (USD Million) 12.10. Fuel Processor 12.10.1. Fuel Processor market, 2021 - 2030 (USD Million) 12.11. Reducer 12.11.1. Reducer market, 2021 - 2030 (USD Million) 12.12. Battery Management System 12.12.1. Battery Management System market, 2021 - 2030 (USD Million) 12.13. Power Control Unit 12.13.1. Power Control Unit market, 2021 - 2030 (USD Million) 13. Market: By Battery Type Segment Analysis 13.1. Introduction 13.2. Sales Volume & Revenue Analysis (2021-2030) 13.3. Solid-state battery 13.3.1. Solid-state battery market, 2021 - 2030 (USD Million) 13.4. Nickel-manganese-cobalt (NMC) 13.4.1. Nickel-manganese-cobalt (NMC) market, 2021 - 2030 (USD Million) 13.5 Lithium-iron-phosphate (LFP) 13.5.1 Lithium-iron-phosphate (LFP) market, 2021 - 2030 (USD Million) 13.6. Others 13.6.1. Others market, 2021 - 2030 (USD Million) 14. Market: By Battery Capacity Segment Analysis 14.1. Introduction 14.2. Sales Volume & Revenue Analysis (2021-2030) 14.3. <150 Miles 14.3.1. <150 Miles market, 2021 - 2030 (USD Million) 14.4. 150 to 300 Miles 14.4.1. 150 to 300 Miles market, 2021 - 2030 (USD Million) 14.5 >300 Miles 14.5.1 >300 Miles market, 2021 - 2030 (USD Million) 15. Market: By Propulsion Segment Analysis 15.1. Introduction 15.2. Sales Volume & Revenue Analysis (2021-2030) 15.3. Plug-in Hybrid Electric Vehicle (PHEV) 15.3.1. Plug-in Hybrid Electric Vehicle (PHEV) market, 2021 - 2030 (USD Million) 15.4. Battery Electric Vehicle (BEV) 15.4.1. Battery Electric Vehicle (BEV) market, 2021 - 2030 (USD Million) 15.5 Fuel Cell Electric Vehicle (FCEV) 15.5.1 Fuel Cell Electric Vehicle (FCEV) market, 2021 - 2030 (USD Million) 16. Market: Regional Outlook 16.1 North America 16.1.1. North America market, By Component, 2021 - 2030 (USD Million) 16.1.2. North America market, By Vehicle Type, 2021 - 2030 (USD Million) 16.1.3. North America market, By Battery Type, 2021 - 2030 (USD Million) 16.1.4. North America market, By Battery Capacity, 2021 - 2030 (USD Million) 16.1.5. North America market, By Propulsion, 2021 - 2030 (USD Million) 16.1.6. North America market, By End User, 2021 - 2030 (USD Million) 16.1.7. North America market, By Payload Capacity of Truck, 2021 - 2030 (USD Million) 16.1.8. North America market, By Electric Autonomous Vehicle, 2021 - 2030 (USD Million) 16.1.9. North America market, By Bus Length, 2021 - 2030 (USD Million) 16.1.10. North America market, by Country, 2021 - 2030 (USD Million) 16.1.4.1. U.S. 16.1.4.1.1. U.S. market, By End User, 2021 - 2030 (USD Million) 16.1.4.2. Canada 16.1.4.2.1. Canada market, By End User, 2021 - 2030 (USD Million) 16.1.4.2.2. Canada market, By Region, 2021 - 2030 (USD Million) 16.1.4.2.3. Canada market, by Vehicle Types, 2021 - 2030 (USD Million) 16.2. Europe 16.2.1. Europe market, By Component, 2021 - 2030 (USD Million) 16.2.2. Europe Market, By Vehicle Type, 2021 - 2030 (USD Million) 16.2.3. Europe market, By Battery Type, 2021 - 2030 (USD Million) 16.2.4. Europe market, By Battery Capacity, 2021 - 2030 (USD Million) 16.2.5. Europe market, By Propulsion, 2021 - 2030 (USD Million) 16.2.6. Europe market, By End User, 2021 - 2030 (USD Million) 16.2.7. Europe market, By Payload Capacity of Truck, 2021 - 2030 (USD Million) 16.2.8. Europe market, By Electric Autonomous Vehicle, 2021 - 2030 (USD Million) 16.2.9. Europe market, By Bus Length, 2021 - 2030 (USD Million) 16.2.10. Europe market, by Country, 2021 - 2030 (USD Million) 16.2.4.1 U.K. 16.2.4.1.1. U.K. market, By End User, 2021 - 2030 (USD Million) 16.2.4.1.2. U.K. market, By Vehicle Types, 2021 - 2030 (USD Million) 16.2.4.1.3. U.K. market, by region, 2021 - 2030 (USD Million) 16.2.4.2. Germany 16.2.4.2.1. Germany market, By End User, 2021 - 2030 (USD Million) 16.2.4.2.2. Germany market, By Vehicle Type, 2021 - 2030 (USD Million) 16.2.4.2.3. Germany market, by region, 2021 - 2030 (USD Million) 16.2.4.3. France 16.2.4.3.1. France market, By End User, 2021 - 2030 (USD Million) 16.2.4.3.2. France market, By Region, 2021 - 2030 (USD Million) 16.2.4.3.3. France market, by Vehicle Type, 2021 - 2030 (USD Million) 16.2.4.4. Rest of Europe 16.2.4.4.1. Rest of Europe market, By End User, 2021 - 2030 (USD Million) 16.2.4.4.2. Rest of Europe market, By Region, 2021 - 2030 (USD Million) 16.2.4.4.3. Rest of Europe market, by Vehicle Type, 2021 - 2030 (USD Million) 16.3. Asia Pacific 16.3.1. Asia Pacific market, By Component, 2021 - 2030 (USD Million) 16.3.2. Asia Pacific Market, By Vehicle Type, 2021 - 2030 (USD Million) 16.3.3. Asia Pacific market, By Battery Type, 2021 - 2030 (USD Million) 16.3.4. Asia Pacific market, By Battery Capacity, 2021 - 2030 (USD Million) 16.3.5. Asia Pacific market, By Propulsion, 2021 - 2030 (USD Million) 16.3.6. Asia Pacific market, By End User, 2021 - 2030 (USD Million) 16.3.7. Asia Pacific market, By Payload Capacity of Truck, 2021 - 2030 (USD Million) 16.3.8. Asia Pacific market, By Electric Autonomous Vehicle, 2021 - 2030 (USD Million) 16.3.9. Asia Pacific market, By Bus Length, 2021 - 2030 (USD Million) 16.3.10. Asia Pacific market, by Country, 2021 - 2030 (USD Million) 16.3.4.1. China 16.3.4.1.1. China market, By End User, 2021 - 2030 (USD Million) 16.3.4.1.2. China market, By Region, 2021 - 2030 (USD Million) 16.3.4.1.3. China market, by Vehicle Type, 2021 - 2030 (USD Million) 16.3.4.2. India 16.3.4.2.1. India market, By End User, 2021 - 2030 (USD Million) 16.3.4.2.2. India market, By Region, 2021 - 2030 (USD Million) 16.3.4.2.3. India market, by Vehicle Type, 2021 - 2030 (USD Million) 16.3.4.3. Japan 16.3.4.3.1. Japan market, By End User, 2021 - 2030 (USD Million) 16.3.4.3.3. Japan market, by Vehicle Type, 2021 - 2030 (USD Million) 16.3.4.4. South Korea 16.3.4.4.1. South Korea market, By End User, 2021 - 2030 (USD Million) 16.3.4.4.3. South Korea market, by Vehicle Type, 2021 - 2030 (USD Million) 16.3.4.5. Rest of ASIA PACIFIC 16.3.4.5.1. Rest of ASIA PACIFIC market, By End User 2021 - 2030 (USD Million) 16.3.4.5.3. Rest of ASIA PACIFIC market, by Vehicle Type, 2021 - 2030 (USD Million) 16.4. Latin America 16.4.1. Latin America market, By Component, 2021 - 2030 (USD Million) 16.4.2. Latin America Market, By Vehicle Type, 2021 - 2030 (USD Million) 16.4.3. Latin America market, By Battery Type, 2021 - 2030 (USD Million) 16.4.4. Latin America market, By Battery Capacity, 2021 - 2030 (USD Million) 16.4.5. Latin America market, By Propulsion, 2021 - 2030 (USD Million) 16.4.6. Latin America market, By End User, 2021 - 2030 (USD Million) 16.4.7. Latin America market, By Payload Capacity of Truck, 2021 - 2030 (USD Million) 16.4.8. Latin America market, By Electric Autonomous Vehicle, 2021 - 2030 (USD Million) 16.4.9. Latin America market, By Bus Length, 2021 - 2030 (USD Million) 16.4.10. Latin America market, by Country, 2021 - 2030 (USD Million) 16.4.4.1. Brazil 16.4.4.1.1. Brazil market, By End User, 2021 - 2030 (USD Million) 16.4.4.1.3. Brazil market, by Vehicle Type, 2021 - 2030 (USD Million) 16.4.4.2. Mexico 16.4.4.2.1. Mexico market, By End User, 2021 - 2030 (USD Million) 16.4.4.2.3. Mexico market, by Vehicle Type, 2021 - 2030 (USD Million) 16.4.4.3. Rest of Latin America 16.4.4.3.1. Rest of the Latin America market, By End User, 2021 - 2030 (USD Million) 16.4.4.3.3. Rest of the Latin America market, by Vehicle Type, 2021 - 2030 (USD Million) 17. Competitive Landscape 17.1 Proterra, Inc. 17.1.1. Company overview 17.1.2. Financial performance 17.1.3. Payload Capacity of Truck Portfolio Analysis 17.1.4. Business Strategy & Recent Development 17.2. Ebusco B.V. 17.2.1. Company overview 17.2.2. Financial performance 17.2.3. Payload Capacity of Truck Portfolio Analysis 17.2.4. Business Strategy & Recent Development 17.3. Zhengzhou Yutong Group Co. 17.3.1. Company overview 17.3.2. Financial performance 17.3.3. Payload Capacity of Truck Portfolio Analysis 17.3.4. Business Strategy & Recent Development 17.4. Tesla, Inc. 17.4.1. Company overview 17.4.2. Financial performance 17.4.3. Payload Capacity of Truck Portfolio Analysis 17.4.4. Business Strategy & Recent Development 17.5. BYD Co 17.5.1. Company overview 17.5.2. Financial performance 17.5.3. Payload Capacity of Truck Portfolio Analysis 17.5.4. Business Strategy & Recent Development 17.6. Workhorse Group Incorporated. 17.6.1. Company overview 17.6.2. Financial performance 17.6.3. Payload Capacity of Truck Portfolio Analysis 17.6.4. Business Strategy & Recent Development 17.7. VDL Group B.V. 17.7.1. Company overview 17.7.2. Financial performance 17.7.3. Payload Capacity of Truck Portfolio Analysis 17.7.4. Business Strategy & Recent Development 17.8. Rivian Automotive, Inc. 17.8.1. Company overview 17.8.2. Financial performance 17.8.3. Payload Capacity of Truck Portfolio Analysis 17.8.4. Business Strategy & Recent Development 17.9. Volvo Group 17.9.1. Company overview 17.9.2. Financial performance 17.9.3. Payload Capacity of Truck Portfolio Analysis 17.9.4. Business Strategy & Recent Development List of Tables (106 Tables) TABLE 1. MARKET, By Payload Capacity of Truck, 2021-2030 (USD Million) TABLE 2. MARKET FOR <10,000 LBS, BY REGION, 2021-2030 (USD Million) TABLE 3. MARKET FOR 10,001 to 26,000 LBS, BY REGION, 2021-2030 (USD Million) TABLE 4. MARKET FOR >26,001 LBS, BY REGION, 2021-2030 (USD Million) TABLE 5. MARKET, By Electric Autonomous Vehicle, 2021-2030 (USD Million) TABLE 6. MARKET FOR Electric Autonomous Bus, BY REGION, 2021-2030 (USD Million) TABLE 7. MARKET FOR Electric Autonomous Truck, BY REGION, 2021-2030 (USD Million) TABLE 8. MARKET, By Bus Length Type, 2021-2030 (USD Million) TABLE 9. MARKET FOR <9m, BY REGION, 2021-2030 (USD Million) TABLE 10. MARKET FOR 9 to 14m, BY REGION, 2021-2030 (USD Million) TABLE 11. MARKET FOR >14m, BY REGION, 2021-2030 (USD Million) TABLE 12. MARKET, By End User, 2021-2030 (USD Million) TABLE 13. MARKET FOR Field Services, BY REGION, 2021-2030 (USD Million) TABLE 14. MARKET FOR Refuse Services, BY REGION, 2021-2030 (USD Million) TABLE 15. MARKET FOR Long Haul Transportation, BY REGION, 2021-2030 (USD Million) TABLE 16. MARKET FOR Last Mile Delivery, BY REGION, 2021-2030 (USD Million) TABLE 17. MARKET FOR Distribution, BY REGION, 2021-2030 (USD Million) TABLE 18. MARKET, BY VEHICLE TYPE, 2021-2030 (USD Million) TABLE 19. MARKET FOR Van, BY REGION, 2021-2030 (USD Million) TABLE 20. MARKET FOR Bus, BY REGION, 2021-2030 (USD Million) TABLE 21. MARKET FOR Truck, BY REGION, 2021-2030 (USD Million) TABLE 22. MARKET FOR Pickup Truck, BY REGION, 2021-2030 (USD Million) TABLE 23. MARKET, BY Component, 2021-2030 (USD Million) TABLE 24. MARKET FOR Fuel Stack, BY REGION, 2021-2030 (USD Million) TABLE 25. MARKET FOR Humidifier, BY REGION, 2021-2030 (USD Million) TABLE 26. MARKET FOR Battery Cells & Packs, BY REGION, 2021-2030 (USD Million) TABLE 27. MARKET FOR Air Compressor, BY REGION, 2021-2030 (USD Million) TABLE 28. MARKET FOR On-Board Charge, BY REGION, 2021-2030 (USD Million) TABLE 29. MARKET FOR Power Conditioner, BY REGION, 2021-2030 (USD Million) TABLE 30. MARKET FOR Motor, BY REGION, 2021-2030 (USD Million) TABLE 31. MARKET FOR Fuel Processor, BY REGION, 2021-2030 (USD Million) TABLE 32. MARKET FOR Reducer, BY REGION, 2021-2030 (USD Million) TABLE 33. MARKET FOR Battery Management System, BY REGION, 2021-2030 (USD Million) TABLE 34. MARKET FOR Power Control Unit, BY REGION, 2021-2030 (USD Million) TABLE 35. MARKET, BY Battery Type, 2021-2030 (USD Million) TABLE 36. MARKET FOR Solid-state battery, BY REGION, 2021-2030 (USD Million) TABLE 37. MARKET FOR Nickel-manganese-cobalt (NMC), BY REGION, 2021-2030 (USD Million) TABLE 38. MARKET FOR Lithium-iron-phosphate (LFP), BY REGION, 2021-2030 (USD Million) TABLE 39. MARKET FOR Others, BY REGION, 2021-2030 (USD Million) TABLE 40. MARKET, BY Battery Capacity, 2021-2030 (USD Million) TABLE 41. MARKET FOR <150 Miles, BY REGION, 2021-2030 (USD Million) TABLE 42. MARKET FOR 150 to 300 Miles, BY REGION, 2021-2030 (USD Million) TABLE 43. MARKET FOR >300 Miles, BY REGION, 2021-2030 (USD Million) TABLE 44. MARKET, BY Propulsion, 2021-2030 (USD Million) TABLE 45. MARKET FOR Plug-in Hybrid Electric Vehicle (PHEV), BY REGION, 2021-2030 (USD Million) TABLE 46. MARKET FOR Battery Electric Vehicle (BEV), BY REGION, 2021-2030 (USD Million) TABLE 47. MARKET FOR Fuel Cell Electric Vehicle (FCEV), BY REGION, 2021-2030 (USD Million) TABLE 48. MARKET, BY REGION, 2021-2030 (USD Million) TABLE 49. North America market, By Component, 2021 - 2030 (USD Million) TABLE 50. North America market, By Vehicle Type, 2021 - 2030 (USD Million) TABLE 51. North America market, By Battery Type, 2021 - 2030 (USD Million) TABLE 52. North America market, By Battery Capacity, 2021 - 2030 (USD Million) TABLE 53. North America market, By Propulsion, 2021 - 2030 (USD Million) TABLE 54. North America market, By End User, 2021 - 2030 (USD Million) TABLE 55. North America market, By Payload Capacity of Truck, 2021 - 2030 (USD Million) TABLE 56. North America market, By Electric Autonomous Vehicle, 2021 - 2030 (USD Million) TABLE 57. North America market, By Bus Length, 2021 - 2030 (USD Million) TABLE 58. North America market, by Country, 2021 - 2030 (USD Million) TABLE 59. Europe market, By Component, 2021 - 2030 (USD Million) TABLE 60. Europe Market, By Vehicle Type, 2021 - 2030 (USD Million) TABLE 61. Europe market, By Battery Type, 2021 - 2030 (USD Million) TABLE 62. Europe market, By Battery Capacity, 2021 - 2030 (USD Million) TABLE 63. Europe market, By Propulsion, 2021 - 2030 (USD Million) TABLE 64. Europe market, By End User, 2021 - 2030 (USD Million) TABLE 65. Europe market, By Payload Capacity of Truck, 2021 - 2030 (USD Million) TABLE 66. Europe market, By Electric Autonomous Vehicle, 2021 - 2030 (USD Million) TABLE 67. Europe market, By Bus Length, 2021 - 2030 (USD Million) TABLE 68. Europe market, by Country, 2021 - 2030 (USD Million) TABLE 69. Asia Pacific market, By Component, 2021 - 2030 (USD Million) TABLE 70. Asia Pacific Market, By Vehicle Type, 2021 - 2030 (USD Million) TABLE 71. Asia Pacific market, By Battery Type, 2021 - 2030 (USD Million) TABLE 72. Asia Pacific market, By Battery Capacity, 2021 - 2030 (USD Million) TABLE 73. Asia Pacific market, By Propulsion, 2021 - 2030 (USD Million) TABLE 74. Asia Pacific market, By End User, 2021 - 2030 (USD Million) TABLE 75. Asia Pacific market, By Payload Capacity of Truck, 2021 - 2030 (USD Million) TABLE 76. Asia Pacific market, By Electric Autonomous Vehicle, 2021 - 2030 (USD Million) TABLE 77. Asia Pacific market, By Bus Length, 2021 - 2030 (USD Million) TABLE 78. Asia Pacific market, by Country, 2021 - 2030 (USD Million) TABLE 79. Latin America market, By Component, 2021 - 2030 (USD Million) TABLE 80. Latin America Market, By Vehicle Type, 2021 - 2030 (USD Million) TABLE 81. Latin America market, By Battery Type, 2021 - 2030 (USD Million) TABLE 82. Latin America market, By Battery Capacity, 2021 - 2030 (USD Million) TABLE 83. Latin America market, By Propulsion, 2021 - 2030 (USD Million) TABLE 84. Latin America market, By End User, 2021 - 2030 (USD Million) TABLE 85. Latin America market, By Payload Capacity of Truck, 2021 - 2030 (USD Million) TABLE 86. Latin America market, By Electric Autonomous Vehicle, 2021 - 2030 (USD Million) TABLE 87. Latin America market, By Bus Length, 2021 - 2030 (USD Million) TABLE 88. Latin America market, by Country, 2021 - 2030 (USD Million) TABLE 89. Proterra, Inc.: COMPANY SNAPSHOT TABLE 90. Proterra, Inc.: OPERATING SEGMENTS TABLE 91. Ebusco B.V.: COMPANY SNAPSHOT TABLE 92. Ebusco B.V.: OPERATING SEGMENTS TABLE 93. Zhengzhou Yutong Group Co: COMPANY SNAPSHOT TABLE 94. Zhengzhou Yutong Group Co: OPERATING SEGMENTS TABLE 95. Tesla, Inc: COMPANY SNAPSHOT TABLE 96. Tesla, Inc: OPERATING SEGMENTS TABLE 97. BYD Co: COMPANY SNAPSHOT TABLE 98. BYD Co: OPERATING SEGMENTS TABLE 99. Workhorse Group Incorporated: COMPANY SNAPSHOT TABLE 100. Workhorse Group Incorporated: OPERATING SEGMENTS TABLE 101. VDL Group B.V.: COMPANY SNAPSHOT TABLE 102. VDL Group B.V.: OPERATING SEGMENTS TABLE 103. Rivian Automotive, Inc: COMPANY SNAPSHOT TABLE 104. Rivian Automotive, Inc: OPERATING SEGMENTS TABLE 105. Volvo Group: COMPANY SNAPSHOT TABLE 106. Volvo Group: OPERATING SEGMENTS List of Figures (30 Figures) Figure 1 Market: Research Methodology Steps Figure 2 Research Design Figure 3 Breakdown of Primaries: Market Figure 4 Research Methodology: Hypothesis Building Figure 5 Market: Vehicle Type-Based Estimation Figure 6 Top 9 Companies with Highest No. Of Patent in Last 9 Years Figure 7 No. Of Patents Granted Per Year, 2019–2021 Figure 8 Import Data for Electric Commercial Vehicle, By Country, 2016–2021 (USD Thousand) Figure 9 Export Data for Electric Commercial Vehicle, By Country, 2016–2021 (USD Thousand) Figure 10 Data Triangulation Methodology Figure 11 Market Share, By Component, 2019 vs. 2025 (USD Million) Figure 12 Market Share, By Vehicle Type, 2019 vs. 2025 (USD Million) Figure 13 Market Share, By Battery Type, 2019 vs. 2025 (USD Million) Figure 14 Market Share, By Battery Capacity, 2019 vs. 2025 (USD Million) Figure 15 Market Share, By Propulsion, 2019 vs. 2025 (USD Million) Figure 16 Market Share, By End User, 2019 vs. 2025 (USD Million) Figure 17 Market Share, By Payload Capacity of Truck, 2019 vs. 2025 (USD Million) Figure 18 Market Share, By Electric Autonomous Vehicle, 2019 vs. 2025 (USD Million) Figure 19 Market Share, By Bus Length, 2019 vs. 2025 (USD Million) Figure 20 Geographical Snapshot of the Market Figure 21 Battery Electric Vehicle (BEV) to Witness Higher CAGR in Market for Propulsion Segment during Forecast Period. Figure 22 Van to Witness Higher CAGR in Market for Vehicle Type Segment during Forecast Period. Figure 23 Lithium-iron-phosphate (LFP) to Witness Higher CAGR in Market for Battery Type Segment during Forecast Period. Figure 24 Last Mile Delivery to Witness Higher CAGR in Market for End User Segment during Forecast Period. Figure 25 <150 Miles to Witness Higher CAGR in Market for Battery Capacity Segment during Forecast Period. Figure 26 Asia Pacific Accounted for the Largest Share of the Market, By Regional Basis, in 2019 Figure 27 Market: Drivers, Restraints, Opportunities, and Challenges Figure 28 North America: Market Snapshot Figure 29 Asia Pacific: Market Snapshot Figure 30 Vendor Dive: Evaluation Overview