Global Electric Commercial Vehicles Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast: 2018–2027

“Global Electric Commercial Vehicle Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2027” is a recent report generated by MarketResearch.biz. The global electric commercial vehicle market report has been segmented on the basis of vehicle type, propulsion, components, range, charging infrastructure, and region.

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Introduction:

Electric commercial vehicle are self-propelling transportation machines used for goods as well as passengers using power stored in batteries with the help of both electric motors working in tandem and internal combustion engine or electric motors. Electric vehicles are powered using collector system off-vehicle sources of electricity or chargeable batteries, solar panels, etc.

Market Dynamics:

Global electric commercial vehicle market is estimated to register significant growth, owing to increasing awareness regarding low carbon emission in the environment among individuals. In addition, increasing demand for electric vehicles from logistics and transportation industry is another key factor expected to drive growth of the target market. Increasing government initiatives for adoption of electric vehicles such as subsidies offered on electric vehicles is a major factor anticipated to drive growth of global electric commercial vehicles market.

In addition, government in various countries are developing basic infrastructure required to make these vehicles cost-effective and easily available to end-users, which is another factor expected to propel growth of the target market. In addition, various features offered by these vehicles such as low maintenance cost and eco-friendly option of vehicles is another factor expected to support growth of the target market over the forecast period.

However, lack of sufficient charging stations for electric vehicles is a key factor expected to hamper growth of the global electric commercial vehicles market. In addition, high cost associated with primary development of electric commercial vehicles is another factor expected to hinder growth of the target market over the forecast period.

Regional Insights:

Increasing awareness campaigns by governments in the countries in Asia Pacific regarding benefits associated with adoption of electric commercial vehicles is a key factor expected to drive growth of the target market. In addition, increasing population in emerging countries such as China and India has derived need of effective public transportation solutions which is another factor expected to augment growth of the target market in the region. Moreover, to offer better public transportation service, China is electrifying their fleets by enforcing government regulations to encourage urban pollution for using emission-free vehicles. Increasing focus on development of basic requirements such as charging stations and proper roadways infrastructure is major factor expected to drive growth of electric commercial vehicles market in the Europe. Markets in North America, Latin America, and Middle East and Africa are expected to grow at moderate rate during the forecast period.

Segmentation and Key Players Operating in Global Electric Commercial Vehicles Market:

Segmentation by vehicle type:

• Bus
• Truck
• Pick-Up Truck
• Van

Segmentation by propulsion:

• Plug in Hybrid Electric Vehicle (PHEV)
• Fuel cell Electric Vehicle (FCEV)
• Battery Electric Vehicle (BEV)
• Hybrid Electric Vehicle (HEV)

Segmentation by components:

• Electric Motor
• EV Battery
• Hydrogen Fuel Cell

Segmentation by range:

• 0-150 Miles
• 151-250 Miles
• 251-500 Miles
• Above 500 Miles

Segmentation by charging infrastructure:

• Plug-In
• Pantograph
• Inductive

Segmentation by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa