Commercial Electric Vehicles Market: By Technology, By Vehicle Analysis, By Charging Infrastructure and Region Forecast 2019 - 2030

Commercial Electric Vehicles Market Size, Share, Growth, Trends, and Global Industry Analysis: By Technology (Battery Electric Vehicles, Hybrid Electric Vehicles, Plug-in Hybrid Electric Vehicles), By Vehicle Analysis (Bus, Truck, Pick-Up Truck, Van), By Charging Infrastructure (Pantograph, Plug-in, Inductive) and Region Forecast 2019 - 2030

Commercial Electric Vehicles Market size was valued at US$ 68,500.0 million in 2023 and is expected to reach a value of US$ 398.9 billion by 2030, growing at a CAGR of 28% from 2024-2030. The global market provides a detailed overview of the market that can be segmented by the technology, vehicle, and charging infrastructure. By technology, the commercial electric vehicles market has been segmented into battery electric vehicles, hybrid electric vehicles, and plug-in hybrid electric vehicles.

The battery-electric vehicles segment is likely to be the largest and fastest-growing segment in terms of technology. Based on the vehicle, the commercial electric vehicles market is segmented into the bus, trucks, pick-up trucks, and vans. Among these, the bus segment is expected to have the fastest-growing market during the forecast period. On the charging infrastructure, the market is segregated into pantograph, plug-in, and inductive. The pantograph held a considerable market share during the forecast period.  

Commercial Electric Vehicles Market Key Developments

  • In Dec 2021, BYD introduced the ETP3 electric vehicle, which has a 50.3 kWh NMC battery and a 269 km range. The new electric van measures 4.46 meters in length and can carry 720 kg.

Commercial Electric Vehicles Market Summary

Study Period

2024-2030

Base Year

2023

CAGR

28%

Largest Market

North America

Fastest Growing Market

Asia-Pacific

Commercial Electric Vehicles Market Dynamics

The last-mile transportation of goods from warehouses is increasingly being done with electric commercial vehicles, government support for electric commercial vehicles, high demand for electric pickups with many pre-bookings in these vehicles, and rising prices of fossil fuels to raise demand for ECVS are some key factors boosting the market growth.

Commercial Electric Vehicles Market Segmentation Analysis

Report Benchmarks

Details

Report Study Period

2024-2030

Market Size in 2023

US$ 68,500.0 million

Market Size in 2030

US$ 398.9 billion

Market CAGR

28%

By Technology

  • Battery Electric Vehicles,
  • Hybrid Electric Vehicles,
  • Plug-in Hybrid Electric Vehicles

By Vehicle Analysis

  • Bus,
  • Truck,
  • Pick-Up Truck,
  • Van

By Infrastructure

  • Pantograph,
  • Plug-in,
  • Inductive

Key Features of the Report

  • The commercial electric vehicles market report provides granular level information about the market size, regional market share, historic market (2019-2023), and forecast (2024-2030)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments, and start-up details that are actively working in the market
  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario

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Frequently Asked Questions

The commercial electric vehicles market size was valued at US$ 68,500.0 million in 2023

The major players in the global commercial electric vehicles market are Tesla, Nissan, BMW, Chevrolet, Ford, AB Volvo, Alexander Dennis Ltd., Alstom Group, Anhui Ankai Automobile Co. Ltd., Ashok Leyland Ltd., Bluebus SAS, Bozankaya A.S., BYD Co. Ltd., Caetanobus – Fabrico De Autocarros E Carrocarias S.A., Chariot Motors, Dongfeng Motor Corp., Ebusco B.V., Nanjing Golden Dragon Bus Co. Ltd., Proterra Inc., Tata Motors Ltd., Cummins Inc., E-Force One AG, Hino Motors Ltd, Isuzu Motors Ltd., Iveco S.p.A., Nikola Corp., Scania AB, Workhorse Group Inc, VDL Bus and Coach, Daimler and CAF.

Asia Pacific is the fastest-growing region for commercial electric vehicles market

1. Executive Summary
2. Global Commercial Electric Vehicles Market Introduction
2.1. Global Commercial Electric Vehicles Market Taxonomy
2.2. Global Commercial Electric Vehicles Market Definitions
2.2.1. By Technology
2.2.2. By Vehicle
2.2.3. By Charging Infrastructure
3. Global Commercial Electric Vehicles Market Dynamics
3.1. Drivers
3.2. Restraints
3.3. Opportunities/Unmet Needs of the Market
3.4. Trends
3.5. Global Commercial Electric Vehicles Market Dynamic Factors - Impact Analysis
3.6. Global Commercial Electric Vehicles Market Competition Landscape
4. Global Commercial Electric Vehicles Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030
4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
4.2. Year-over-Year (Y-o-Y) Growth Analysis (%)
4.3. Market Opportunity Analysis
5. Global Commercial Electric Vehicles Market, By Technology, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
5.1. Battery Electric Vehicles
5.1.1.  Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.1.3. Market Opportunity Analysis
5.2. Hybrid Electric Vehicles
5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.2.3. Market Opportunity Analysis
5.3. Plug-in Hybrid Electric Vehicles
5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
5.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.3.3. Market Opportunity Analysis
6. Global Commercial Electric Vehicles Market Forecast, By Vehicle, 2019 - 2023 and Forecast, 2024 - 2030
6.1. Bus
6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.1.3. Market Opportunity Analysis
6.2. Truck
6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.2.3. Market Opportunity Analysis
6.3. Pick-up Truck
6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
6.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.3.3. Market Opportunity Analysis
6.4. Van
6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
6.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.4.3. Market Opportunity Analysis
7. Global Commercial Electric Vehicles Market Forecast, By Charging Infrastructure, 2019 - 2023 and Forecast, 2024 - 2030
7.1. Pantograph
7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.1.3. Market Opportunity Analysis
7.2. Plug-in
7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.2.3. Market Opportunity Analysis
7.3. Inductive
7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
7.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.3.3. Market Opportunity Analysis
8. Global Commercial Electric Vehicles Market Forecast, By Region, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
8.1. North America
8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
8.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.1.3. Market Opportunity Analysis
8.2. Europe
8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
8.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.2.3. Market Opportunity Analysis
8.3. Asia-Pacific
8.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
8.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.3.3. Market Opportunity Analysis
8.4. Latin America
8.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
8.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.4.3. Market Opportunity Analysis
8.5. Middle East and Africa
8.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
8.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.5.3. Market Opportunity Analysis
8.6. Global Commercial Electric Vehicles Market - Opportunity Analysis Index, By Technology, By Vehicle Type, Charging Infrastructure, and Country, 2024 - 2030
9. North America Commercial Electric Vehicles Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
9.1. Technology Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
9.1.1. Battery Electric Vehicles
9.1.2. Hybrid Electric Vehicles
9.1.3. Plug-in Hybrid Electric Vehicles
9.2. Vehicle Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
9.2.1. Bus
9.2.2. Truck
9.2.3. Pick-Up Truck
9.2.4. Van
9.3. Charging Infrastructure Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
9.3.1. Pantograph
9.3.2. Plug-in
9.3.3. Inductive
9.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030  by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
9.4.1. U.S.
9.4.2. Canada
9.5. North America Commercial Electric Vehicles Market - Opportunity Analysis Index, By Technology, By Vehicle Type, Charging Infrastructure, and Country, 2024 - 2030
9.6. North America Commercial Electric Vehicles Market Dynamics Trends
10. Europe Commercial Electric Vehicles Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
10.1. Technology Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
10.1.1. Battery Electric Vehicles
10.1.2. Hybrid Electric Vehicles
10.1.3. Plug-in Hybrid Electric Vehicles
10.2. Vehicle Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
10.2.1. Bus
10.2.2. Truck
10.2.3. Pick-Up Truck
10.2.4. Van
10.3. Charging Infrastructure Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
10.3.1. Pantograph
10.3.2. Plug-in
10.3.3. Inductive
10.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030  by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
10.4.1. Germany
10.4.2. UK
10.4.3. France
10.4.4. Spain
10.4.5. Italy
10.4.6. Russia
10.4.7. Poland
10.4.8. Rest of Europe
10.5. Europe Commercial Electric Vehicles Market - Opportunity Analysis Index, By Technology, By Vehicle Type, Charging Infrastructure, and Country, 2024 - 2030
10.6. Europe Commercial Electric Vehicles Market Dynamics Trends
11. Asia-Pacific Commercial Electric Vehicles Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
11.1. Technology Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
11.1.1. Battery Electric Vehicles
11.1.2. Hybrid Electric Vehicles
11.1.3. Plug-in Hybrid Electric Vehicles
11.2. Vehicle Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
11.2.1. Bus
11.2.2. Truck
11.2.3. Pick-Up Truck
11.2.4. Van
11.3. Charging Infrastructure Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
11.3.1. Pantograph
11.3.2. Plug-in
11.3.3. Inductive
11.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030  by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
11.4.1. Japan
11.4.2. China
11.4.3. India
11.4.4. ASEAN
11.4.5. Australia & New Zealand
11.4.6. Rest of Asia-Pacific
11.5. Asia-Pacific Commercial Electric Vehicles Market - Opportunity Analysis Index, By Technology, By Vehicle Type, Charging Infrastructure, and Country, 2024 - 2030
11.6. Asia-Pacific Commercial Electric Vehicles Market Dynamics Trends
12. Latin America Commercial Electric Vehicles Market Analysis, 2019 - 2023 and Forecast, 2022 2028
12.1. Technology Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
12.1.1. Battery Electric Vehicles
12.1.2. Hybrid Electric Vehicles
12.1.3. Plug-in Hybrid Electric Vehicles
12.2. Vehicle Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
12.2.1. Bus
12.2.2. Truck
12.2.3. Pick-Up Truck
12.2.4. Van
12.3. Charging Infrastructure Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
12.3.1. Pantograph
12.3.2. Plug-in
12.3.3. Inductive
12.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030  by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
12.4.1. Brazil
12.4.2. Mexico
12.4.3. Argentina
12.4.4. Rest of Latin America
12.5. Latin America Commercial Electric Vehicles Market - Opportunity Analysis Index, By Technology, Vehicle Type, Charging Infrastructure, and Country, 2024 - 2030
12.6. Latin America Commercial Electric Vehicles Market Dynamics Trends
13. Middle East and Africa Commercial Electric Vehicles Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
13.1. Technology Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
13.1.1. Battery Electric Vehicles
13.1.2. Hybrid Electric Vehicles
13.1.3. Plug-in Hybrid Electric Vehicles
13.2. Vehicle Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
13.2.1. Bus
13.2.2. Truck
13.2.3. Pick-Up Truck
13.2.4. Van
13.3. Charging Infrastructure Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
13.3.1. Pantograph
13.3.2. Plug-in
13.3.3. Inductive
13.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
13.4.1. Gulf Cooperation Council (GCC) Countries
13.4.2. Israel
13.4.3. South Africa
13.4.4. Rest of MEA
13.5. MEA Commercial Electric Vehicles Market - Opportunity Analysis Index, By Technology, Vehicle Type, Charging Infrastructure, and Country, 2024 - 2030
13.6. MEA Commercial Electric Vehicles Market Dynamics Trends
14. Competition Landscape
14.1. Strategic Dashboard of Top Market Players
14.2. Company Profiles (Introduction, Financial Analysis, Product & Service Offerings, Key Developments, Strategies, and SWOT Analysis)
14.2.1. Tesla
14.2.2. Nissan
14.2.3. BMW
14.2.4. Chevrolet
14.2.5. Ford
14.2.6. AB Volvo
14.2.7. Alexander Dennis Ltd.
14.2.8. Alstom Group
14.2.9. Anhui Ankai Automobile Co. Ltd.
14.2.10. Ashok Leyland Ltd.,
14.2.11. Bluebus SAS,
14.2.12. Bozankaya A.S.
14.2.13. BYD Co. Ltd.
14.2.14. Caetanobus - Fabrico De Autocarros E Carrocarias S.A.
14.2.15. Chariot Motors
14.2.16. Dongfeng Motor Corp.
14.2.17. Ebusco B.V.
14.2.18. Nanjing Golden Dragon Bus Co. Ltd.
14.2.19. Proterra Inc.
14.2.20. Tata Motors Ltd.
14.2.21. Cummins Inc.
14.2.22. E-Force One AG
14.2.23. Hino Motors Ltd
14.2.24. Isuzu Motors Ltd.
14.2.25. Iveco S.p.A.
14.2.26. Nikola Corp.
14.2.27. Scania AB
14.2.28. Workhorse Group Inc
14.2.29. VDL Bus and Coach
14.2.30. Daimler
14.2.31. CAF
14.2.32. Emoss Mobile Systems
14.2.33. Yutong
15. Research Methodology
16. Key Assumptions and Acronyms

Key Market Players

  • Tesla
  • Nissan
  • BMW
  • Chevrolet
  • Ford
  • AB Volvo
  • Alexander Dennis Ltd.
  • Alstom Group
  • Anhui Ankai Automobile Co. Ltd.
  • Ashok Leyland Ltd.,
  • Bluebus SAS,
  • Bozankaya A.S.
  • BYD Co. Ltd.
  • Caetanobus - Fabrico De Autocarros E Carrocarias S.A.
  • Chariot Motors
  • Dongfeng Motor Corp.
  • Ebusco B.V.
  • Nanjing Golden Dragon Bus Co. Ltd.
  • Proterra Inc.
  • Tata Motors Ltd.
  • Cummins Inc.
  • E-Force One AG
  • Hino Motors Ltd
  • Isuzu Motors Ltd.
  • Iveco S.p.A.
  • Nikola Corp.
  • Scania AB
  • Workhorse Group Inc
  • VDL Bus and Coach
  • Daimler
  • CAF

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