BlueWeave Consulting Electric Commercial Vehicles Market Expected to Re | Page 2

(PHEV) and fuel cell electric vehicle (FCEV). The battery electric vehicle segment dominates the market
due to government initiatives to promote green transportation across the globe. Battery electric buses
require less fuel and maintenance. Hybrid electric buses require conventional fuel along with electric
prolusion system to operate. These hybrid vehicles require large batteries and motors to meet its power
requirement, which makes hybrid commercial vehicles costlier. Based on electric vehicle type, the global
electric commercial vehicle market can be fragmented into bus, truck, vans and others. On the basis of
components, the electric commercial vehicle market can be segmented into motors, electric batteries,
and others.
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Global Electric Commercial Vehicles Market: Competitive Dynamics
The research study includes profiles of leading companies operating in the global electric commercial
vehicles market. Some of the key players profiled in the report include Daimler (Germany), Tesla (US),
BYD (China), NISSAN (Japan), Proterra (US), Toyota, BYD Company Limited, ZHONGTONGBUS Bus
Holding Co., Ltd, ABB group etc.
The Asia Pacific is expected to lead the global electric commercial vehicle market during the forecast
period
On the basis of region, the electric commercial vehicle market can be segmented into North America,
Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific accounts for a major share of
the global electric commercial vehicle market. China dominated the electric commercial vehicle market.
China is electrifying their fleets as the country has the world’s worst pollution problem. Countries such
as Japan and South Korea are investing in the development of electric vehicles and charging stations and
creating awareness regarding the benefits related to electric commercial vehicles.
The Asia Pacific region is estimated to hold the largest volume share of global electric commercial
vehicle market in year 2017. The segment is estimated to grow with a significant CAGR in the forecast
period. The high adoption of electric buses to curb pollution and the subsequent increase in sales of
electric commercial vehicles such as buses are expected to fuel electric commercial vehicle market in the
Asia Pacific region.
The global electric commercial vehicles market is segmented as below:
Global Electric Commercial Vehicles Market, by Propulsion
Global Electric Commercial Vehicles Market, by Vehicle Type
Global Electric Commercial Vehicles Market, by Component
Global Electric Commercial Vehicles Market, by Geography:
North America