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Global Electric Commercial Vehicle Market Forecast to 2028 | MarketsandMarkets

01-27-2021 07:11 AM CET | Logistics & Transport

Press release from: MarketsandMarkets

Global Electric Commercial Vehicle Market Forecast to 2028 |

According to the new market research report "Electric Commercial Vehicle Market by Propulsion Type, Vehicle Type, Range, Battery Type, Length of Bus, Power Output Type, Battery Capacity Type, Component Type, Autonomous Vehicles Type, End-User and Region - Global Forecast to 2028"Published by MarketsandMarkets™, The Global Electric Commercial Vehicle Market size is projected to grow from 129 thousand units in 2020 to reach 2,026 thousand units by 2028, at a CAGR of 41.1%.

The growth of the Electric Commercial Vehicle Market can be attributed to the increasing focus of countries on the electrification of their public transport fleets and the increasing demand for zero-emission vehicles in the logistics sector. Advancements in battery pack technologies and electric powertrains are some of the major factors driving the growth of the electric commercial vehicle industry.

Browse in-depth TOC on "Electric Commercial Vehicle Market"
188 – Tables
65 – Figures
250 – Pages

Factors such as rise in pollution and environmental hazards, stringent government regulations, and stiff competition have compelled automotive OEMs to make fuel-efficient and environment-friendly vehicles. Thus, the Electric Commercial Vehicle Market is expected to witness significant growth in the future.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=16430819

The Asia Pacific is expected to lead the global market during the forecast period

The Asia Pacific region is the largest Electric Commercial Vehicle Market in the world. It comprises some of the fastest developing and developed economies in the world, such as China, India, and Japan. The market growth in the region can be attributed to the dominance of Chinese market in the electric bus segment and the presence of market-leading OEMs in the country as well, resulting in the exponential growth of Electric Commercial Vehicle Market in the Asia Pacific. The large demand for electric buses, favourable regulations for electric commercial vehicles, and the rapidly growing logistics sector are expected to boost the Electric Commercial Vehicle Market in the region.

North America electric van segment is expected to grow at the highest CAGR

The North American electric van segment is expected to be the fastest market as there is a high demand for electric vans from the logistics sector. The increasing demand for electric vans in the logistics sector and focus on the electrification of public transport fleet are driving the Electric Commercial Vehicle Market. The growth of the logistics and e-commerce sectors is expected to drive the market for electric vans during the forecast period. The usage of electric vans in the logistics sector would minimize the cost of transportation. Many leading logistics companies in North America and Europe have started using electric vans for shipping and delivery purposes. For instance, DHL, one of the leading logistics companies in the world, is using electric vans while Amazon announced plans to use electric delivery vans to be built by Rivian.

Request FREE Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=16430819

North America: the U.S is expected to lead the market

The North American region is projected to be the fastest-growing market during the forecast period. The region is a hub to major players such as Proterra (California, U.S), Tesla (California, U.S), Workhorse Group (Ohio, U.S), Nikola Motor Company (Arizona, U.S) and Rivian (Michigan, U.S). North America is a key region for innovations; significant R&D; and technological advancements in electric vehicles, battery technologies, and charging solutions.

The U.S is the largest market in North America, followed by Canada. Also, the U.S is home to many established OEMs providing electric vehicles and has a higher adoption rate for electric commercial vehicles.

The global Electric Commercial Vehicle Market is dominated by major players such as BYD (China), Yutong (China), Proterra (US), VDL Groep (Netherlands), and AB Volvo (Sweden).

View Full TOC @ https://www.marketsandmarkets.com/Market-Reports/electric-commercial-vehicle-market-16430819.html

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441
Email: sales@marketsandmarkets.com
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/electric-commercial-vehicle-market.asp

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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