Electric Commercial Vehicles Market 2020 Latest Trends, Technology Advancement and Demand - BYD; Proterra; AB Volvo; Daimler AG; Nissan; ABB; Scania AB; Tesla; Nikola Motor Company

Electric Commercial Vehicles Global Market Report 2020-30: Covid 19 Growth and Change

The electric commercial vehicles market consists of sales of electric commercial vehicles and related services. Electric commercial vehicles are electrically-powered, self-propelled electric vehicles used for transportation that helps reduce greenhouse gas releases (GHG) and pollution, that works with the help of both electric motors working in tandem. Electric commercial vehicles are used for the delivery of goods and for transport, such as passengers, that are powered by batteries and includes buses, trucks, vans and pick-up trucks.

The global electric commercial vehicles market is expected to decline from $48.54 billion in 2019 to $40.7 billion in 2020 at a compound annual growth rate (CAGR) of -16.06%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and reach $96.85 billion in 2023 at CAGR of 21.8%.

Top Leading Companies mentioned are

BYD; Proterra; AB Volvo; Daimler AG; Nissan; ABB; Scania AB; Tesla; Nikola Motor Company; Tata Motors; EBUSCO; Emoss Mobile Systems; ZHONGTONGBUS Bus Holding Co., Ltd; Ashok Leyland Ltd.; Dongfeng Motor Corp.; Hino Motors Ltd.; Isuzu Motors Ltd.; Iveco S.

Asia Pacific was the largest market in electric commercial vehicles market in 2019 and is expected to be the fastest growing market in the forecast period.

Electric commercial vehicle companies are implementing strategic partnerships for the production of electric commercial vehicles. Strategic partnerships in electric commercial vehicles involves sharing of resources and expertise that enhances the product and multiplies the result. It attracts popularity from consumers and other stakeholders, helping to increase the investment while reducing costs. For instance, in 2020, in South Korea, Hyundai Motor Company and Kia Motors Corporation strategically partnered and is investing 100 million (US $110 million) in a UK-based electric vehicle startup company 'Arrival' for developing electric commercial vehicles such as eco-friendly vans and commercial vehicles for logistics.

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The electric commercial vehicles market covered in this report is segmented by propulsion type into BEV; PHEV; FCEV. It is also segmented by vehicle type into electric bus; electric truck; electric pick-up truck; electric van, by battery type into lithium-iron-phosphate (LFP); lithium-nickel-manganese-cobalt oxide (NMC); others and by technology into battery electric commercial vehicles; plug-in hybrids; hybrids; fuel cell electric commercial vehicles.

The growth of the electric commercial vehicle market is restrained by limited battery power and longer charging duration. For electric commercial vehicles, the range and performance of the battery is typically less powerful and has a limited range (60-100 miles per charge) and is considered suitable only for short-distance travel. The limited travel range of batteries of electric vehicles raises concerns among the consumers that their vehicles may run out of charge/power before reaching the destination. Longer charging duration is another major challenge for the market. Lack of availability of supercharging stations adds to the woes associated with the use of batteries in an electric vehicle.

Market Segmentation by Types:

1) By Propulsion Type: BEV; PHEV; FCEV

2) By Vehicle Type: Electric Bus; Electric Truck; Electric Pick-up Truck; Electric Van

3) By Battery Type: Lithium-iron-phosphate (LFP); Lithium-nickel-manganese-cobalt oxide (NMC); Others

4) By Technology: Battery Electric Commercial Vehicles; Plug-in Hybrids; Hybrids; Fuel Cell Electric Commercial Vehicles

This report provides a detailed analysis of the Electric Commercial Vehicles market with description of market sizing and growth, segmentation of market by products & services and major markets, top market players etc. The report recapitulates the factors that will be responsible for the growth in the market in the forecasted period.

Essential points covered in Global Electric Commercial Vehicles Market2020 Research are: -

• What will the market size and the growth rate be in 2020?
• What are the key factors driving the global Electric Commercial Vehicles market?
• What are the key markets trends impacting the growth of the global Electric Commercial Vehicles market?
• What are the challenges to market growth?
• Who are the key vendors in the global Electric Commercial Vehicles market?
• What are the market opportunities and threats faced by the vendors in the global Electric Commercial Vehicles market?
• What are the key outcomes of the five forces analysis of the global Electric Commercial Vehicles market?
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This independent 200 pages report guarantees you will remain better informed than your competition. With over figures examining the Electric Commercial Vehicles market, the report gives you a visual, one-stop breakdown of the leading products, submarket and market leader’s market revenue forecasts as well as analysis to 2020.

Geographically, this report is segmented into several key Regions, with Sales, revenue, Market Share (%) and Growth Rate (%) of Electric Commercial Vehicles in these regions, from 2014 to 2020(forecast), covering Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Furthermore, the report provides a detailed analysis of the global Electric Commercial Vehicles market with analysis of market size by value and volume. Along with this, an analysis of penetration rate and the average revenue generated per user (ARPU) in the market has also been done. The report also includes a detailed analysis of the global Lithium-Ion Batteries market by countries, comprising of its market by value, volume, and ARPU and penetration rate.

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The research includes historic data from 2014 to 2020 and forecasts until 2020 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs. The report will make detailed analysis mainly on above questions and in-depth research on the development environment, market size, development trend, operation situation and future development trend of Electric Commercial Vehicles on the basis of stating current situation of the industry in 2020 so as to make comprehensive organization and judgment on the competition situation and development trend of Electric Commercial Vehicles Market and assist manufacturers and Electric Commercial Vehicles organization to better grasp the development course of Electric Commercial Vehicles Market.

Note: All the reports that we list have been tracking the impact of COVID-19. Both upstream and downstream of the entire supplychain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.

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