Global Electric Commercial Vehicle Market Post COVID Growth Opportunity Analysis, Key Players- Yutong, Delphi Technologies, VDL Group, AB Volvo

According to the report, the global Electric Commercial Vehicle market is expected to grow from $176.26 Billion in 2019, which is expected to reach $1297.28 Billion by 2027, growing at the CAGR of 28.89% from 2020 to 2027. This growth is attributed to

Rising Adoption Of Electric Vehicles In The Logistics Industry:
Various logistics companies, such as UPS and PepsiCo, have started taking an interest in the electrification of their trucks to cut down operating costs. The total cost goods a major role in warehouses and affects profit margins. For example, for a logistics company, the breakeven point occurs at 50000 GMP + 1500 BTC per month of operation. Fuel expenses are high while covering such distances using conventional vehicles, while the use of electric trucks can eliminate these expenses altogether by utilizing advanced energy storage systems which improve overall efficiency and reduce cost-per-mile.

The market is hampered by the high development cost.

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The recently published research report on Global Electric Commercial Vehicle Market by Evolve Business Intelligence examines the industry in the context of major market aspects including market size & forecast, market shares in terms of revenues and volume, key players, and SWOT analysis. The market is analyzed based on 4 separate indications in the market dynamic chapter: Drivers, Restraints, Key Trends, and Challenges. The total sum of these sections will help you understand what strategies will be best to adopt in order to prosper through this industry over a few short years. The quantitative analysis includes our actual findings out of this research study where we provided additional insight into what our readers can do to embrace new opportunities or plan against threats that might hinder the market.

The COVID-19 pandemic has led to disruption in the supply chain leading to lower demand or supply shortages in the Electric Commercial Vehicle market. The travel restrictions and social-distancing measures have resulted in a sharp drop in consumer and business spending and this pattern is expected to continue for some time. The end-user trend and preferences have changed due to the pandemic and have resulted in manufacturers, developers, and service providers adopting various strategies to stabilize the company.

The New Normal
As businesses recover from the COVID-19 pandemic, they have a new set of priorities to cope with. Throughout this crisis, they were forced to deal with shifting situations and often fell short of their ultimate goals. Now that a cure has been found and the pandemic is dying down, they will need to recuperate from this epidemic by setting forth new objectives to succeed in the future.

In terms of COVID 19 impact, the Electric Commercial Vehicle market report also includes the following data points:
• COVID19 Impact on Electric Commercial Vehicle market size
• End-User/Industry/Application Trend, and Preferences
• Government Policies/Regulatory Framework
• Key Players Strategy to Tackle Negative Impact/Post-COVID Strategies
• Opportunity in Electric Commercial Vehicle market

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Key Players
Some of the major Electric Commercial Vehicle players holding high market share include Yutong, Delphi Technologies, VDL Group, AB Volvo. These players use new product development and collaboration as a key strategy to gain significant market share to compete with market leaders.
The key players profiled in the report are:
• Yutong
• Delphi Technologies
• VDL Group
• AB Volvo
• Toyota Kirloskar Motor
• NISSAN
• ITM Power
• Tesla
• Mitsubishi Electric Corporation
• BYD

Segmental Analysis
Market Segment By Battery Type with focus on market share, consumption trend, and growth rate of Electric Commercial Vehicle Market:
o Lithium-iron-phosphate (LFP)
o Lithium-nickel-manganese-cobalt oxide (NMC)
o Others

Market Segment By Component with focus on market share, consumption trend, and growth rate of Electric Commercial Vehicle Market:
o Electric Motor
o EV Battery
o Hydrogen Fuel Cell

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Global Electric Commercial Vehicle Geographic Coverage:
• North America
o US
o Canada
o Mexico

• Europe
o UK
o Germany
o France
o Italy
o Rest of Europe

• Asia Pacific
o China
o Japan
o India
o South Korea
o Rest of Asia Pacific

• Rest of the World
o South America
o Middle East & Africa
The Asia Pacific holds the larger share in the market owing to the high demand for electric buses in public transport fleets

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