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 $57 billion in 2021, expected to appreciate and reach $848.94 billion by 2030, confirms Strategic Market Research. 45% of the global market was controlled by Asia-Pacific in 2021. An electric vehicle is one that runs on electricity rather than an internal combustion engine, which generates power by burning fuel and gases. To solve the issues of increasing pollution, global warming, decreasing natural resources, etc., such a vehicle is considered a potential substitute for the current generation of automobiles. Instead of using diesel or gasoline, electrical power is used to operate construction equipment like wheel loaders and excavators as well as commercial vehicles like buses, trucks, and vans. An internal battery on the inside of these cars' recharges itself using the power grid. Electrical energy is transformed into mechanical energy by an electric motor. Electric commercial vehicles are becoming increasingly popular because of their low carbon emissions, cheap maintenance requirements, smoother ride, and reduced engine noise. The market for electric commercial cars is one of the world's most rapidly developing markets due to increased public awareness of the dangers and threats to the environment and the harm done to the ecosystem by conventional gasoline and diesel vehicles. The market is mostly known for cars that operate on electricity rather than gasoline, crude oil, diesel, or other by-products. In the future, electric business cars will be more prevalent. To reduce emissions associated with traffic, most governments are targeting electrification by 2050. Governments in nations including China, Japan, the United States, Canada, and India have already established commercial vehicle thresholds. During the forecast period, government policies, monetary incentives for E.V.s, and the quick advancement of infrastructure to facilitate E.V.s are expected to propel market revenue growth. Research indicates that by 2030, e-trucks such as vans or articulated trucks will make up about 15% of the market. By 2040, it is anticipated that 80% of buses will be electrified in cities all over the world. Smaller commercial vehicle shares will be 35% in Europe and China. Key Industry Drivers - 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. EIA (Energy Information Administration), United States, estimated that 97.45 million barrels of gasoline were consumed daily in 2021. Except for a few rare occasions like the COVID-19 outbreak, gasoline prices have been growing over time at a global level. With an astounding 48.7% increase since last year and a 22.75% increase just in the past six months, the price of gas in particular is getting even more out of reach. To put those figures into perspective, AAA reports that the national average cost of a gallon of gasoline in the United States is $4.99. The strong demand for gasoline is the main reason for the increase in gasoline prices globally. Gasoline is a non renewable source of energy; hence it will likely run out within the next few decades. Gasoline prices also rise as a result of the change in supply and demand of gasoline globally. Even though several accords have been established to regulate petrol prices on the global market, prices have increased with time. Automakers are now thinking about alternate sources of fuel for their vehicles due to the depletion of petroleum supplies and the rising cost of gasoline. Petroleum prices, which have already increased in the past few decades, are expected to increase further as a result of the conflict between Russia and Ukraine in 2022. This is anticipated to spark new efforts to switch to E.V.s to lower everyday transport expenses across the globe. Moreover, Tax rates also influence the cost of fossil fuels globally. According to reports, the United States has the lowest fuel tax of about 19 percent, whereas India imposes a tax on fuel of over 69 percent. Conversely, ECVs have significantly lower operating costs than traditional commercial vehicles. Their cheaper operating costs compared to the high expense of driving ICE commercial vehicles will increase the market for electric commercial vehicles. 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 - Lack of E.V. Infrastructure will Hinder the Adoption of ECVs. The lack of an adequate E.V. charging infrastructure prevents most countries from having high charging densities, which will limit the growth of the ECV business. Although most nations aspire to improve their E.V. infrastructure, very few have created the necessary infrastructure for a complete shift to E.V.s. Netherlands has the highest density, with more than 100 EV chargers per km. Most fleet providers prefer dedicated charging stations for their fleets of commercial vehicles; however, vans & pickup trucks can also be recharged using the charging stations created for electric passenger cars. Additionally, pantographs and certain charging ports are needed for the daily charging of electric buses and trucks. The infrastructure for charging commercial vehicles is far more constrained than electric cars. Opportunities - Advancement of Wireless Electric Charging Technologies for On-The-Go Charging Method Over the past few years, wireless on-the-go charging technology has evolved. When this technology will further advance, users won't have to charge their cars because the cars will do so automatically while they are in use. Although this technology is now quite expensive, it might be used in the ensuing decades. As sales are anticipated to rise quickly once this technology is used, it is anticipated to substantially impact the E.V. market on a positive note. According to reports, the ability to charge stationary E.V.s wirelessly will be available by the end of 2022. In Norway, a wireless on-the-go Electric charging trial is being conducted. This is planned to support and facilitate charging for a fleet of 25 Jaguar I-pace taxis stationed in Oslo. The capital of Norway has started a program called ElectriCity to have an emission-free taxi system by 2024. The advancement in technology for the on-the-go charging method will positively influence the growth of the global electric commercial vehicle 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 A BEV (Battery Electric Vehicle) is an entirely battery-powered electric vehicle based on propulsion. A battery that is built inside the vehicle powers a magnet motor that drives it. Depending on the battery type installed, BEVs typically have a range of 150 to 200 miles. Typically utilized for intracity travel, buses, vans, and lorries are outfitted with BEV propulsion systems. BEVs are anticipated to experience considerable demand in the coming years because intracity travel is the most frequent use for these vehicles. Further, reducing operating costs for buses is because the energy used to operate the vehicles is less expensive than gasoline. The overall cost of BEVs is decreasing due to improvements in battery tech & declining battery pricing. According to reports, pure battery electric buses are being purchased by transit agencies in the United States and numerous other nations at a growing rate, and this trend is anticipated to pick up speed in the upcoming years. Additionally, because electric motors are significantly more efficient than conventional motors and have a smaller number of moving components, they require much less maintenance. For instance, The University of Michigan placed the first order for approximately fifty-four battery buses with NFI (Canada) in November 2021. Innovative technology is included in the modern pure electric buses offered by BYD, Proterra, Ankai, and Yutong. For instance, the 17-seater BEV with a top speed of 100 km/h is Ankai's HFF6705BEV electric bus. Original Equipment Manufacturers (OEM) are concentrating more on releasing BEV buses, which will help fuel the growth of the BEV market in the future. End User Analysis & Insights The global electric commercial vehicle market is divided into segments based on end-use, including long-distance transportation, field service, distribution service, and last-mile delivery. The last-mile delivery market is estimated to expand at a pretty quick CAGR during the projected period due to the increase in online sales and the robust spread of e-commerce. According to a SMR survey, same-day delivery, or more precisely last-mile delivery, is predicted to grow by 20–40% in the upcoming years. The e-commerce sector has experienced a significant boom in recent years. With major changes in consumer purchasing patterns brought on by the COVID-19 pandemic, internet shopping has become yet another new norm for all of us. Many individuals started switching to online shopping during COVID 19, even for necessities, which has led to growth in home delivery of items. As a result, there have been noticeably more trucks involved in last-mile delivery operations. Fuel consumption & carbon emissions have risen as a result. As a result, fuel usage and carbon emissions have increased. By 2030, the top 100 suburbs in the world are anticipated to have 36% more delivery vehicles due to the increasing demand for last-mile deliveries. As a result, many supply chain businesses are adopting greener logistics strategies in an effort to minimize their environmental impact and reduce their carbon footprint. For instance, by 2030, the world's largest online retailer Amazon wants to run entirely on renewable energy. To that end, it is collaborating alongside Rivian Automotive Inc. to buy 100,000 battery-electric delivery trucks for its Prime delivery service. Moreover, Flipkart, which Walmart owns, declared in August 2020 that it would join The Climate Group's worldwide electric mobility project, EV100, and pledged to adopt 100% electric vehicles by 2030. To help them achieve zero emissions by 2040, Walmart also plans to run a complete fleet of all-electric cars and trucks. Battery Capacity Analysis & Insights Based on battery capacity, the global market for electric commercial vehicles is divided into three categories: < 150 miles, 150–300 miles, & > 300 miles. Due to end-users increasingly adopting low range electric trucks, notably in last-mile deliveries & intra-city logistics, the less than 150 miles category will account for a bigger revenue share in the worldwide electric commercial vehicle market in the projected time frame. Small-size vans as well as trucks, which are necessary for moving goods within cities or across interstates, are part of the sector less than 150 miles. Because these vehicles are reasonably priced and economical, this market segment is anticipated to rise in terms of revenue throughout the forecast period. For instance, according to a report, it can be stated that after ten years of explosive development, the number of electric cars sold worldwide reached 10 million in 2020, a gain of 43% over 2019. In 2020, low range electric trucks & vans made up two-thirds of the stock and all new electric car registrations. 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 The Asia-Pacific market is anticipated to have a higher revenue share during the projection period than other regional markets. The Chinese electrical public transportation sector is the key driver of revenue growth in the Asia Pacific market. A study found that China produces 99.9% of the world's electrical buses. During the projection period, the region's market for electric commercial vehicles is anticipated to develop due to the increasing popularity of electrically powered buses, favourable laws, and a quickly expanding logistics sector. Due to innovations, extensive research and development, and technological advancements in E.V.s in the region, the North American market is anticipated to have stable revenue growth throughout the course of the projected period. One of the main Electric vehicle hubs in the area is the United States. Additionally, it is anticipated that growing consumer demand for commercial vehicles & increased public awareness of the dangers of fossil fuel pollution will boost market revenue development in this area. Due to the widespread adoption of commercial E.V.s in nations like Norway, the United Kingdom, Sweden, France, Netherland & Germany, the Europe market is anticipated to have consistent revenue growth throughout the projected period. During the projected period, market expansion in this region is anticipated to be fuelled by the increasing popularity for high performance & low emission automobiles as well as supportive government policies and regulations regulating vehicle emissions. 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 August 2022, the integrated ESG technology platform STEER Holdings Inc., a wholly-owned subsidiary of Facedrive Inc., announced that it had signed an agreement with Enterprise Fleet Management to lease more than 1000 electric vehicles valued between 80 -100 million dollars for its electrical vehicle subscription business. This Agreement is important to the Company because it will help STEER expand, support its U.S. expansion, and strengthen its position as the market leader for Electric Vehicle subscriptions. The business plans to expand into new, carefully chosen U.S. markets in addition to adding automobiles to its current operational hubs. On August 2022, the largest commercial vehicle maker in India, Tata Motors, revealed that the Bangalore Metropolitan Transport Corporation had placed an order for 921 electric buses. As per the contract, Tata Motors will provide, operate, and service 12- meter electric buses for 12 years. In March 2022, one of the European company has chosen the AKASOL ultra high energy battery system from BorgWarner in order to power its initial line of heavy duty electric trucks. Beginning in the first quarter of 2024, series manufacturing of the 4x2 solid axle, 18-ton truck, and 6x2 solid axle, and the 26-ton truck is planned. The upgraded Volvo VNR Electric, which has an up to 85% longer range and faster charging, was introduced by A.B. Volvo in January 2022. A new age of 5G-enabled smart buses was inaugurated in December 2021 with the debut of 90 new vehicles by Yutong in Liaoning Region, China. This launch has enabled the 5G smart, fast bus system to be implemented while also reducing traffic congestion and environmental pollution. 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. Sources https://www.businesstoday.in/latest/economy-politics/story/69-india-now-has-highest-taxes-on-petrol-and-diesel-in-the-world-257494-2020-05-06 https://www.irena.org/-/media/Files/IRENA/Agency/Publication/2019/May/IRENA_Innovation_Outlook_EV_smart_charging_2019.pdf https://www.virta.global/blog/ev-charging-infrastructure-development-statistics https://www.infineon.com/cms/en/discoveries/electrified-commercial-vehicles/ https://energy.economictimes.indiatimes.com/news/oil-and-gas/india-now-has-the-highest-taxes-on-fuel-in-the-world/75590141 https://www.bloomberg.com/news/articles/2018-02-01/electric-buses-will-take-over-half-the-world-by-2025 1. 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