Electricity is used instead of diesel or gas to power electric commercial vehicle

DataBridge Market Research
4 min readMar 5, 2020


Electric Commercial Vehicle Market: Summary

The Global Electric Commercial Vehicle Market is estimated to reach 1,477 (Thousand) Units in 2024 at a CAGR of 33.8 %. Growing need for emission-free commercial vehicles and supportive government subsidies is expected to drive the electric commercial vehicle market during the forecast period. However, high initial investments are expected to restrain the market during the forecast period. Increasing demand for logistics in urban areas and increase in sustainability & environmental protection is expected to create an opportunity for electric commercial vehicle system market.

Electric commercial vehicle is a vehicle which runs on electric motors for propulsion. Electricity is used instead of diesel or gas to power electric commerc ial vehicle. Battery is used to store electricity in these vehicles. Electric vehicles have limited energy storage capacity which must be refill by plugging into an electric source. Some key players in electric commercial vehicle are BYD Company Ltd., Tesla, YUTONG, Proterra, AB Volvo and Daimler AG among others.

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Electric Commercial Vehicle Market: Report Synopsis

This market research report offers a comprehensive analysis of key market trends in the global electric commercial vehicle market. It includes detailed discussion on historical market trends, current market dynamics, consumer landscape, growth opportunities and challenges backed by factful feedbacks.

1. On the the basis of type, the electric commercial vehicle market is segmented into battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs), hybrid electric vehicles (HEVs) and fuel cell electric vehicles.

2. Based on vehicle type, the electric commercial vehicle market can be segmented into electric buses, electric trucks, electric pickups, electric van and others.

3. Based on battery material, the electric commercial vehicle market can be segmented into lithium-nickel-cobalt-aluminum (NCA), lithium-nickel-manganese-cobalt (NMC), lithium-manganese-spinel (LMO), lithium titanate (LTO), lithium-iron-phosphate (LFP) and others.

4. Based on range, the electric commercial vehicle market can be segmented into 0–150 miles, 151–300 miles, above 300 Miles and others.

5. The regional analysis is covered under five major regions such as North America, South America, Europe, Asia-Pacific, Middle East & Africa, and South America, with individual country-level analysis.

Electric Commercial Vehicle Market: Report Segmentation

For the scope of report, In-depth segmentation is offered by Forencis Research

Electric Commercial Vehicle Market by Type

· Battery Electric Vehicles (BEVs)

· Plug-In Hybrid Electric Vehicles (PHEVs)

· Hybrid Electric Vehicles (HEVs)

· Fuel Cell Electric Vehicles

Electric Commercial Vehicle Market by Vehicle Type

· Electric Buses

· Electric Trucks

· Electric Pickups

· Electric Van

· Others

Electric Commercial Vehicle Market by Technology

· Automatic Emergency Braking (AEB)

· Adaptive Cruise Control (ACC)

· Blind-Spot Collision Warning (BSW)

· Forward Collision Warning (FCW)

· Lane Keeping Assist (LKA)

· Human Machine Interface (HMI)

· Lane Departure Warning (LDW)

· Others

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Electric Commercial Vehicle Market by Battery Material

· Lithium-Nickel-Cobalt-Aluminum (NCA)

· Lithium-Nickel-Manganese-Cobalt (NMC)

· Lithium-Manganese-Spinel (LMO)

· Lithium Titanate (LTO)

· Lithium-Iron-Phosphate (LFP)

· Others

Electric Commercial Vehicle Market by Range

· 0–150 Miles

· 151–300 Miles

· Above 300 Miles

· Others

Read Press Release of Global Electric Commercial Vehicle Market for More Information@ https://www.forencisresearch.com/electric-commercial-vehicle-market-to-reach-1477-thousand-units-in-2024/

Electric Commercial Vehicle Market by Region


· China

· India

· Japan

· Taiwan

· South Korea

· Rest of Asia-Pacific

North America

· US

· Canada

· Mexico


· Germany

· UK

· France

· Italy

· Spain

· Norway

· Rest of Europe

Middle East & Africa

· Saudi Arabia


· Rest of Middle East & Africa

South America

· Brazil

· Argentina

· Rest of South America

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About Forencis Research

Forencis Research is a B2B market research, intelligence and advisory firm engaging in market research and consulting services across leading industries, globally. Our robust and meticulous research team provides high growth and niche syndicated reports, customized reports and consulting reports to the diverse global fortune clientele and intellectual institutions. Forencis Research database is a constantly evolving pool of reports and white paper studies which helps companies to foster accelerated revenue growth in global and regional markets. Forencis Research delivers market research and consulting reports on high growth markets to help companies dominate their competition and set themselves apart by attaining increased revenue growth. To enable exclusive insights around the target market, Forencis Research employs robust research Methodology & Design which includes data acquisition, data synthesis and data correlation, through Primary and Secondary Research. Through the obtained data, Top-down and bottom-up methods are exercised to attain and verify data sanity within the entire market. This market data is yet again correlated with Forencis Research’s internal database before presenting it in any of our final publications. These methods of data correlation and amalgamation benefit us to put forward accurate market estimates enabling our clients to transform their business, markets and most importantly their “REVENUES”.

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