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, and Region - Global Forecast to 2027

Published by MarketsandMarkets on 13th November 2019 | Ref: 1463968 | This Product Is In Stock

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Introduction

“Increasing focus of countries on the electrification of their public transport fleets and increasing demand for zero emission vehicles in the logistics sector are the significant growth drivers for the global electric commercial vehicle market”

The global electric commercial vehicle market size is projected to grow from 261 thousand units in 2020 to reach 1,890 thousand units by 2027, at a CAGR of 32.7%. The advancements in battery pack technologies and electric powertrains are some of the major factors driving the growth of the electric commercial vehicle industry. Many countries are focusing on the electrification of their public transportation fleets. Factors such as a rise in pollution and environmental hazards, stringent government regulations, and stiff competition have compelled automotive OEMs to make fuel-efficient and environment-friendly vehicles. Increasing demand for fuel efficient and zero emission vehicles in the logistics sector is also driving the market.

“The growth of e-commerce, logistics, and shared mobility is likely to propel the growth of the electric van segment during the forecast period”

The electric van segment is expected to be the fastest growing market as there is a high demand for these vans from the logistics sector, especially in the European region. The growth of the logistics and e-commerce sectors are 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 Europe and North America 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 in some parts of the European region.

“Asia Pacific is expected to be the largest 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 industry in Asia Pacific. The large volumes of electric bus, favorable regulations for electric commercial vehicles, and rapidly growing logistics sector are projected to boost the electric commercial vehicle market in the region.

“European market is expected to register the fastest growth during the forecast period”

The European region is projected to be the fastest-growing market during the forecast period. The increasing demand for electric vans in the logistics sector and the focus on electrification of the public transport fleet are driving the electric commercial vehicle market in Europe. The region is a hub to major players such as AB Volvo (Sweden), VDL Bus and Coach (Netherlands), Daimler (Germany), CAF (Spain), EBUSCO (Netherlands), Scania (Sweden), and Emoss Mobile Systems (Netherlands). Europe is a key region for innovations; significant R&D; and technological advancements in electric vehicles, battery technologies, and charging solutions.

France is the largest market in Europe, followed by Germany. France, which is one of the leading automotive hubs in the European region, is home to many established OEMs providing electric vehicles and also has a higher adoption rate for electric commercial vehicles.

In-depth interviews were conducted with CEOs, marketing directors, other innovation and technology directors, and executives from various key organizations operating in this market.

• By Company Type: Tier I - 40%, Tier II - 42%, and Tier III - 18%,

• By Designation: C Level - 57%, D Level - 29%, and Others - 14%

• By Region: North America - 39%, Europe - 33%, and Asia Pacific - 28%

The electric commercial vehicle market comprises major manufacturers such as BYD (China), Yutong (China), Proterra (US), VDL Groep (Netherlands), and AB Volvo (Sweden).

Research Coverage:

The market study covers the electric commercial vehicle market across segments. It aims at estimating the market size and future growth potential of this market across different segments such as by propulsion type, vehicle type, range, battery type, length of bus, power output, battery capacity, component, autonomous vehicles, and region. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Key Benefits of Buying the Report:

• The report will help market leaders/new entrants in this market with information on the closest approximations of revenue numbers for the overall electric commercial vehicle market and its subsegments.

• This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.

• The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

Table of Contents

TABLE OF CONTENTS

1 INTRODUCTION 20

1.1 OBJECTIVES OF THE STUDY 20

1.2 MARKET DEFINITION 20

1.3 MARKET SCOPE 22

1.4 PACKAGE SIZE 23

1.5 STAKEHOLDERS 23

2 RESEARCH METHODOLOGY 24

2.1 RESEARCH DATA 24

2.2 MARKET SIZE ESTIMATION 29

2.3 MARKET BREAKDOWN AND DATA TRIANGULATION 30

2.4 ASSUMPTIONS & ASSOCIATED RISKS 31

3 EXECUTIVE SUMMARY 32

4 PREMIUM INSIGHTS 36

4.1 ATTRACTIVE OPPORTUNITIES IN THE ELECTRIC COMMERCIAL VEHICLE MARKET 36

4.2 ELECTRIC COMMERCIAL VEHICLE MARKET GROWTH RATE, BY REGION 37

4.3 ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE 37

4.4 ELECTRIC COMMERCIAL VEHICLE MARKET, BY PROPULSION 38

4.5 ELECTRIC COMMERCIAL VEHICLE MARKET, BY RANGE 38

4.6 ELECTRIC COMMERCIAL VEHICLE MARKET, BY LENGTH OF BUS 39

4.7 ELECTRIC COMMERCIAL VEHICLE MARKET, BY BATTERY TYPE 39

4.8 ELECTRIC COMMERCIAL VEHICLE MARKET, BY BATTERY CAPACITY TYPE 40

4.9 ELECTRIC COMMERCIAL VEHICLE MARKET, BY POWER OUTPUT TYPE 40

5 MARKET OVERVIEW 41

5.1 INTRODUCTION 41

5.2 MARKET DYNAMICS 42

5.3 ELECTRIC COMMERCIAL VEHICLE MARKET, SCENARIOS (2018–2027) 48

5.4 REVENUE SHIFT AND HOT BETS IN THE ELECTRIC COMMERCIAL VEHICLE MARKET 50

6 INDUSTRY TRENDS 51

6.1 INTRODUCTION 51

6.2 ROBO-TAXI 51

6.3 HIGH VOLTAGE BATTERY 51

6.4 SMART ELECTRIC DRIVE 51

6.5 TECHNOLOGY ANALYSIS 52

6.6 INNOVATIVE CHARGING SOLUTIONS 52

6.7 GROUND-BASED STATIC CHARGING SYSTEM 52

6.8 PORTER’S FIVE FORCES MODEL ANALYSIS 53

7 ELECTRIC COMMERCIAL VEHICLE MARKET, BY COMPONENT 54

7.1 INTRODUCTION 54

7.2 ELECTRIC MOTOR 54

7.3 EV BATTERY 55

7.4 HYDROGEN FUEL CELL STACK 55

8 ELECTRIC COMMERCIAL VEHICLE MARKET, BY AUTONOMOUS VEHICLES 56

8.1 INTRODUCTION 56

8.2 ELECTRIC AUTONOMOUS TRUCK 56

8.3 ELECTRIC AUTONOMOUS BUS 57

9 ELECTRIC COMMERCIAL VEHICLE MARKET, BY BATTERY TYPE 58

9.1 INTRODUCTION 59

9.2 OPERATIONAL DATA 60

9.3 LITHIUM-NICKEL-MANGANESE-COBALT OXIDE 61

9.4 LITHIUM-IRON-PHOSPHATE 62

9.5 OTHERS 62

9.6 KEY INDUSTRY INSIGHTS 63

10 ELECTRIC COMMERCIAL VEHICLE MARKET, BY BATTERY CAPACITY 64

10.1 INTRODUCTION 65

10.2 OPERATIONAL DATA 66

10.3 LESS THAN 50 KWH 67

10.4 50-250 KWH 67

10.5 ABOVE 250 KWH 68

10.6 KEY INDUSTRY INSIGHTS 68

11 ELECTRIC COMMERCIAL VEHICLE MARKET, BY LENGTH OF BUS 69

11.1 INTRODUCTION 70

11.2 OPERATIONAL DATA 71

11.3 LESS THAN 9 M 72

11.4 9-14 M 72

11.5 ABOVE 14 M 73

11.6 KEY INDUSTRY INSIGHTS 73

12 ELECTRIC COMMERCIAL VEHICLE MARKET, BY POWER OUTPUT 74

12.1 INTRODUCTION 75

12.2 OPERATIONAL DATA 76

12.3 LESS THAN 100 KW 77

12.4 100-250 KW 77

12.5 ABOVE 250 KW 78

12.6 KEY INDUSTRY INSIGHTS 78

13 ELECTRIC COMMERCIAL VEHICLE MARKET, BY PROPULSION TYPE 79

13.1 INTRODUCTION 80

13.2 OPERATIONAL DATA 81

13.3 BEV 82

13.4 FCEV 82

13.5 PHEV 83

13.6 KEY INDUSTRY INSIGHTS 83

14 ELECTRIC COMMERCIAL VEHICLE MARKET, BY RANGE 84

14.1 INTRODUCTION 85

14.2 OPERATIONAL DATA 86

14.3 LESS THAN 150 MILES 87

14.4 150-300 MILES 87

14.5 ABOVE 300 MILES 88

14.6 KEY INDUSTRY INSIGHTS 88

15 ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE 89

15.1 INTRODUCTION 90

15.2 OPERATIONAL DATA 91

15.3 ELECTRIC BUS 92

15.4 ELECTRIC PICK-UP TRUCK 93

15.5 ELECTRIC TRUCK 93

15.6 ELECTRIC VAN 94

15.7 KEY INDUSTRY INSIGHTS 94

16 ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION 95

16.1 INTRODUCTION 96

16.2 ASIA PACIFIC TO LEAD THE ELECTRIC COMMERCIAL VEHICLE MARKET IN THE FORECAST PERIOD 96

16.3 ASIA PACIFIC 97

16.4 EUROPE 102

16.5 NORTH AMERICA 114

16.6 MARKET LEADERS 118

17 COMPETITIVE LANDSCAPE 119

17.1 OVERVIEW 119

17.2 MARKET RANKING ANALYSIS 119

17.3 COMPETITIVE SCENARIO 121

JOINT VENTURES/LICENSE AGREEMENTS 122

17.4 COMPETITIVE LEADERSHIP MAPPING 124

17.5 SME COMPETITIVE LEADERSHIP MAPPING 125

17.6 WINNERS VS. TAIL-ENDERS 127

18 COMPANY PROFILES 128

(Business overview, Recent developments & SWOT analysis)*

18.1 BYD 128

18.2 YUTONG 132

18.3 PROTERRA 135

18.4 VDL GROEP 138

18.5 AB VOLVO 141

18.6 DAIMLER AG 145

18.7 NFI GROUP 147

18.8 CAF 149

18.9 EBUSCO BV 151

18.10 KING LONG 152

18.11 ANKAI 155

18.12 ZHONGTONG BUS HOLDING 157

18.13 OTHER KEY PLAYERS 159

*Details on Business overview, Recent developments & SWOT analysis might not be captured in case of unlisted companies.

19 RECOMMENDATIONS BY MARKETSANDMARKETS 163

19.1 ASIA PACIFIC WILL BE THE MAJOR MARKET FOR ELECTRIC COMMERCIAL VEHICLES 163

19.2 ELECTRIC VAN CAN BE A KEY FOCUS FOR MANUFACTURERS 163

19.3 CONCLUSION 163

20 APPENDIX 164

20.1 KEY INSIGHTS OF INDUSTRY EXPERTS 164

20.2 CURRENCY 164

20.3 DISCUSSION GUIDE 165

20.4 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 167

20.5 AVAILABLE CUSTOMIZATIONS 169

20.6 RELATED REPORTS 169

20.7 AUTHOR DETAILS 170

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MarketsandMarkets

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1463968 | AT 6196

Number of Pages

171

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PDF

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