Press release
Electric Light Commercial Vehicle Market: Major Trends Reshaping the Future of the Industry
Electric Light Commercial Vehicle
What Will the Electric Light Commercial Vehicle Industry Market Size Be by 2025?
In recent times, we have witnessed a swift expansion in the size of the electric light commercial vehicle market. This market is projected to scale up from $32.46 billion in 2024 to $38.72 billion in 2025, translating to a Compound Annual Growth Rate (CAGR) of 19.3%. This remarkable growth trajectory during the prior period is attributed to a number of factors including governmental regulations, incentives and subsidies, improved charging infrastructure, reduced operating expenses, and initiatives centered around sustainable development.
What's the Long-Term Growth Forecast for the Electric Light Commercial Vehicle Market Size Through 2029?
The market size of electric light commercial vehicles is anticipated to skyrocket over the ensuing years, achieving a $77.34 billion valuation in 2029, with a compound annual growth rate (CAGR) of 18.9%. The expected expansion in this period can be credited to heightened emission norms, broader fleet use, an upswing in the need for eco-friendly transport, increased e-commerce and last-mile delivery requirements, alongside rising fossil fuel prices. In the forecasted period, hot trends are likely to comprise intensified efforts for electrification, progress in battery technologies, evolution of cordless EV charging technology, implementation of last-mile delivery solutions as well as improved battery potency and energy compaction.
View the full report here:
https://www.thebusinessresearchcompany.com/report/electric-light-commercial-vehicle-global-market-report
What Are the Key Growth Drivers Fueling the Electric Light Commercial Vehicle Market Expansion?
The electric light commercial vehicle market is expected to grow due to rising fossil fuel prices. Fossil fuels, which are hydrocarbon-containing materials sourced biologically and utilized for energy, are seeing price hikes due to changes in international oil supply and demand, increased production costs from advanced extraction techniques, and market speculation. Electric light commercial vehicles present a powerful alternative over the conventional fossil-fuel powered vehicles, providing operational efficiency, cost-efficiency, and environment-friendliness - attributes that are especially beneficial in times of increased fossil fuel prices. For instance, the U.S. Energy Information Administration, an American federal agency, reported in September 2024 that in 2023, the national average yearly price for midgrade gasoline was about 52 cents per gallon more than regular gasoline, while premium gasoline was approximately 85 cents per gallon higher than regular. As such, rising fossil fuel prices are fostering the expansion of the electric light commercial vehicle market.
Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=16405&type=smp
What Are the Key Trends Driving Electric Light Commercial Vehicle Market Growth?
Key players in the field of electric light commercial vehicle manufacturing are capitalizing on lithium-ion battery packs to improve vehicle performance, mileage, and longevity. These battery packs provide many benefits over conventional lead-acid batteries, such as greater energy density, quicker recharge rates, and extended life span. For example, in April 2024, UK-based bus production company Switch Mobility introduced the IeV 4, an electric light commercial vehicle powered by a 32.2 kWh lithium-ion battery pack. The IeV 4 has been specially engineered for a variety of tasks including cargo shipping, container management, waste removal, and refrigerated van requirements, with an estimated annual production of about 3,000 units. The vehicle, designed specifically for urban transport, boasts a certified lift capacity of 4000 kg (8800 lbs). It is ideal for smaller garage and tyre operations, providing a lift range from 230 mm to 1900 mm (9 to 75 in). The vehicle is available for sale on the Snap-on website and a host of other online channels.
How Is the Electric Light Commercial Vehicle Market Segmented?
The electric light commercial vehicle market covered in this report is segmented -
1) By Vehicle: Light-Duty Trucks, Vans, Pickup Trucks
2) By Propulsion: Battery Electric Vehicle (BEV), Fuel Cell Electric Vehicle (FCEV), Hybrid Electric Vehicle (HEV), Plug-In Hybrid Electric Vehicle (PHEV)
3) By Gross Vehicle Weight (GVW): Below 6,000 lbs, 6,001 lbs- 10,000 lbs, 10,001 lbs - 14,000 lbs
4) By Application: Commercial, Industrial
Subsegments:
1) By Light-Duty Trucks: Electric Delivery Trucks, Electric Cargo Trucks, Electric Refrigerated Trucks
2) By Vans: Electric Cargo Vans, Electric Passenger Vans, Electric Delivery Vans
3) By Pickup Trucks: Electric Utility Pickup Trucks, Electric Light-Duty Pickup Trucks
Tailor your insights and customize the full report here:
https://www.thebusinessresearchcompany.com/customise?id=16405&type=smp
Which Companies Are Leading the Charge in Electric Light Commercial Vehicle Market Innovation?
Major companies operating in the electric light commercial vehicle market are Volkswagen Group, Toyota Motor Corporation, Mercedes-Benz Group AG, Ford Motor Company, General Motors, Hyundai Motor Company, Nissan Motor Corporation, BYD Company Ltd., Nikola Corporation, AB Volvo, Traton SE, Paccar Inc., Iveco S.p.A., Navistar International Corporation, Ashok Leyland, DAF Trucks, Rivian Automotive Inc., Proterra, Orange EV, Quantron AG, Alkè, London EV Company Limited
Which Regions Are Leading the Global Electric Light Commercial Vehicle Market in Revenue?
Asia-Pacific was the largest region in the electric light commercial vehicle market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the electric light commercial vehicle market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Purchase the full report today:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=16405
This Report Supports:
1.Business Leaders & Investors - To identify growth opportunities, assess risks, and guide strategic decisions.
2.Manufacturers & Suppliers - To understand market trends, customer demand, and competitive positioning.
3.Policy Makers & Regulators - To track industry developments and align regulatory frameworks.
4.Consultants & Analysts - To support market entry, expansion strategies, and client advisory work.
Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.
Contact Us
Europe: +44 7882 955267,
Asia: +91 88972 63534,
Americas: +1 310-496-7795 or
Email: mailto:info@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Electric Light Commercial Vehicle Market: Major Trends Reshaping the Future of the Industry here
News-ID: 4136376 • Views: …
More Releases from The Business Research Company
Segment Evaluation and Major Growth Areas in the Personalized Testing and Supple …
The personalized testing and supplements sector is gaining remarkable traction, driven by advancements in technology and a rising consumer focus on tailored health solutions. As more individuals seek customized wellness options, this market is set to experience substantial expansion in the coming years. Here's an in-depth look at its current valuation, key players, significant trends, and the main market segments shaping its future.
Market Valuation and Expansion Forecast for Personalized Testing…
Top Players and Market Competition in the Skin Microbiome Industry
The skin microbiome market is emerging as a significant area of interest due to growing awareness about the critical role of skin health and innovative skincare technologies. As research advances and consumer preferences shift towards more natural and science-backed products, this market is set to undergo substantial growth. Let's explore the current market size, key players, driving factors, and upcoming trends shaping the skin microbiome industry.
Projected Expansion in the Skin…
Key Strategic Developments and Emerging Changes Shaping the Upadacitinib Market …
The upadacitinib market is poised for significant expansion over the coming years, driven by advances in treatment options and increasing awareness of autoimmune diseases. This report delves into the market's current size, key drivers, major players, and the emerging trends shaping its future trajectory.
Steady Growth Expected in Upadacitinib Market Size Through 2029
The market for upadacitinib is projected to reach $2.54 billion by 2029, growing at a robust compound annual…
Analysis of Key Market Segments Driving the Alzheimer's Disease Diagnostic Marke …
The Alzheimer's disease diagnostic sector is rapidly evolving as advancements in technology and healthcare infrastructure open new possibilities for early detection and personalized treatment. With rising awareness and innovative approaches, this market is poised for significant growth in the coming years. Let's explore the current market size, key drivers, leading companies, and emerging trends that are shaping this critical healthcare field.
Projected Market Size and Growth Trends in Alzheimer's Disease Diagnostics…
More Releases for Electric
Electrical Isolators Market 2023: Mitsubishi Electric, Orient Electric, Schneide …
The Electrical Isolators Market size (volume and value) and industry chain structure published by The Insight Partners through its high quality database which is a valuable source of guidance and direction for companies and individual interested in the industry.
An electrical isolator is a material in which electric current does not flow freely. The atoms of the insulator have tightly bound electrons which cannot readily move. Other materials, semiconductors and conductors…
Electric Motors for Electric Vehicle Market by Manufacturers: Hitachi Automotive …
Electric Motors for Electric Vehicle Market research report analyzes and studies the Electric Motors for Electric Vehicle Market's production, value, financial status, and capacity. It also provides information about market share and development plans during the projected period. Moreover, the Electric Motors for Electric Vehicle Market research report provides data about key manufacturers and focuses on the market competition landscape by analyzing the market by application, product type, and region.
Click…
Thermal Overload Relay Market 2021 Precise Outlook - ABB, Schneider Electric, Ea …
Global Thermal Overload Relay Market Size, Status and Forecast 2021
The Global Thermal Overload Relay Market report offers in-depth information and comprehensive analysis of the market. It provides a complete overview of the market with detailed insights on key aspects including the current market situation, potential size, volume, and dynamics of the market. This research report makes a thorough assessment of the COVID-19 pandemic and its impact on the current market…
Global Electric Motors for Electric Vehicles Market 2025 | MAHLE GmbH, Protean E …
Researchmoz added Most up-to-date research on "Global Electric Motors for Electric Vehicles Market Insights, Forecast to 2025" to its huge collection of research reports.
This report presents the worldwide Electric Motors for Electric Vehicles market size (value, production and consumption), splits the breakdown (data status 2013-2018 and forecast to 2025), by manufacturers, region, type and application.
This study also analyzes the market status, market share, growth rate, future trends, market drivers, opportunities…
Yokogawa Electric, General Electric Profiled in Smart Factory Solutions Market 2 …
Global Smart Factory Solutions Market which focuses on effective strategies of the business framework. It highlights the recent market trends stringent energy regulations and growing pressure to conform to energy efficiency. The research methods and tools used to analyze the studies are both primary and secondary research.
This market research report on analyzes the growth prospects for the key vendors operating in this market space including Siemens, ABB, Honeywell International, Yokogawa…
Global Quartz Heat Lamps Market 2017 : Indu Electric Gerber, Schneider Electric, …
The Market Research Store report offers majority of the latest and newest industry data that covers the overall market situation along with future prospects for Quartz Heat Lamps market around the globe. The research study includes significant data and also forecasts of the global market which makes the research report a helpful resource for marketing people, analysts, industry executives, consultants, sales and product managers, and other people who are in…
