Electric Commercial Vehicles Market Expected to Reach US$ 149,316 Mn Electric Commercial Vehicles Market

Global Electric Commercial Vehicles Market Report 2019-2025: Top Companies,
Trends and Growth Factors, Global Market Status, Driving Factor Analysis,
Competition Status
According to a new market report published by BlueWeave Consulting The Global
Electric Commercial Vehicles Market is expected to reach a value of US$ 149,316
Mn by 2024, supported by government subsidies and tax rebates for
commercial electrical vehicles. The market is projected to expand at a CAGR of
13.0% during the forecast period from 2018 to 2024 by value.
The market is expected to reach 1,440,820 units by end of 2024. The market is expected to
expand at the CAGR of 10.4% by volume. Need for fuel-efficient and emission-free vehicles
and the increasing demand for electric commercial vehicle such as electric truck in the
logistics industry to minimize the additional liability of fuel expenses. Innovations in EV
battery capacity, which will enable electric commercial vehicle to carry heavy loads
over longer range, can create new revenue generation opportunities.
Electric Commercial Vehicles Market: Scope of the Report
The electric commercial vehicle market can be segmented on the basis propulsion type,
vehicle type, component, and region. Based on propulsion type, the global electric
commercial vehicle market is classified into battery electric vehicle (BEV), hybrid electric
vehicle (HEV), Plug-in hybrid electric vehicles (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.
Request
for
PDF
Sample
of
this
Market
Research
https://www.blueweaveconsulting.com/electric-commercial-vehicles-
market/#1536302097117-445b2636-73fe
Report@
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
1