Electric Commercial Vehicle Market – Global Forecast to 2030
商品番号 : SMB-2713
| 出版社 | MarketsandMarkets |
| 出版年月 | 2025年3月 |
| ページ数 | 375 |
| 図表数 | 427 |
| 価格タイプ | シングルユーザライセンス |
| 価格 | USD 4,950 |
| 種別 | 英文調査報告書 |
Report Overview
The global electric commercial vehicles market is projected to grow from USD 70.9 Billion in 2024 to USD 255.6 Billion by 2030, registering a CAGR of 23.8%.
世界の商用電気自動車市場は、2024 年の 709 億米ドルから 2030 年までに 2,556 億米ドルに拡大し、年平均成長率 23.8% を記録すると予測されています。
The global EV market is experiencing explosive growth fueled by government incentives, environmental concerns, and advancements in battery technology. This surge in EV production translates to a higher demand for electric commercial vehicles. Also, electric commercial vehicles operate at lower cost than ICE commercial vehicles. Growing research of EV batteries and EV charging systems will drive the electric commercial vehicle market. Electric vehicle charging stations, battery swapping stations, and fleet stations must be installed globally to meet the growing demand for electric commercial vehicles.
世界の電気自動車（EV）市場は、政府のインセンティブ、環境問題、バッテリー技術の進歩に後押しされて爆発的な成長を遂げています。EV生産の急増は、商用電気自動車の需要の高まりにつながります。また、商用電気自動車はICE商用車よりも低コストで運行できます。EVバッテリーとEV充電システムの研究の拡大は、商用電気自動車市場を牽引するでしょう。商用電気自動車の需要の高まりに対応するには、電気自動車充電ステーション、バッテリー交換ステーション、フリートステーションを世界中に設置する必要があります。
“The BEVs segment to hold largest market share during the forecast period.”
The BEVs segment is expected to hold a larger share of the electric commercial vehicle market during the forecast period. Over the long term, BEVs can offer lower operating costs compared to traditional internal combustion engine vehicles. Lower fuel costs, reduced maintenance requirements (fewer moving parts), and potential incentives or subsidies contribute to a favorable Total Cost of Ownership, making BEVs economically viable for commercial applications. Ongoing advancements in battery technology, such as increased energy density, improved charging infrastructure, and longer battery life, address some of the concerns associated with electric vehicles. These advancements enhance the performance and competitiveness of BEVs in commercial applications. Automotive OEMs around the world also offer commercial BEVs. For instance, in the BEV market, K5, K6, K7M, K8, and K9 are some of the electric commercial bus series offered by BYD. Thus, the aforementioned factors will drive the demand for BEVs in the electric commercial vehicle market during the forecast period.
“NMC batteries is expected to be the largest market in the forecast period.”
NMC batteries hold the largest market share due to the widespread use of these batteries globally. Many leading battery manufacturers, such as CATL (China), LG Energy Solutions (South Korea), Panasonic Corporation (Japan), and BYD (China), produce NMC batteries. NMC (Nickel Manganese Cobalt) batteries are widely adopted in the electric commercial vehicle market. These batteries have balanced cost and performance, making them cost-effective for electric commercial vehicles. This cost-effectiveness is crucial for the commercial sector, where the total cost of ownership is a significant consideration. Many leading OEMs also incorporate NMC batteries in their electric trucks, including Mercedes-Benz e-Actros, Volvo FL Electric, BYD T series, and Rivian R1T. These batteries have a higher energy density than LFP batteries, and the declining cost of NMC batteries further drives the segment.
“The last–mile delivery segment is estimated to lead end use segment market during the forecast period.”
By end use, the last-mile delivery segment is expected to lead the market during the forecast period. This segment’s growth is primarily driven by the evolving landscape of e-commerce and increased consumer demand for efficient and sustainable delivery solutions. Transition towards electric vans is on rise to lower operational cost for last mile deliveries particularly in urban areas. Electric commercial vehicles offer an ideal solution for last-mile delivery, providing a cost-effective and environmentally friendly alternative to traditional gasoline-powered vehicles. Additionally, the push towards stricter emission regulations and sustainability goals, both by governments and businesses, further propels the adoption of electric last-mile delivery vehicles. In September 2023, FedEx Express Europe announced the addition of 23 Mercedes-Benz eSprinter vans in its UK operations.
“Asia Pacific is projected to dominate the market for 151–300 miles segment during the forecast period.”
Asia Pacific is poised to dominate the 151–300 miles segment of the electric commercial vehicle market in the coming years, primarily due to the increasing use of electric trucks and vans for urban deliveries and transport. These vehicles balance range and versatility, making them well-suited for regional logistics and inter-city transport in densely populated and dynamic markets. Moreover, the region’s commitment to sustainable practices aligns with electric vehicles’ zero-emission and low-noise characteristics, addressing environmental concerns and contributing to cleaner and quieter urban environments. Regional market players such as BYD (China) and Yutong (China) offer various electric commercial vehicles ranging from 151 to 300 miles. For instance, BYD’s E1 pickup truck has a range of around 155 miles. The company also offers the T5 electric van with a range of up to 190 miles and the K6 electric bus with a range of up to 165 miles. As the transportation industry in Asia Pacific continues to prioritize efficiency and eco-friendliness, the demand for electric commercial vehicles with a range of 151–300 miles is expected to witness substantial growth, establishing the region as a leader in this pivotal segment.
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: OEMs – 50%, Tier I – 20%, Tier II– 30%,
- By Designation: CXOs – 15%, Directors– 20%, Others– 65%
- By Region: North America– 30%, Europe – 20%, Asia Pacific– 50%
The electric commercial vehicle market is dominated by global players such as BYD (China), Mercedes-Benz Group AG (Germany), Yutong (China), AB Volvo (Sweden), and Ford Motor Company (US). These companies adopted strategies such as product developments, deals, and others to gain traction in the market.
Research Coverage:
The Market Study Covers the electric commercial vehicle market By Propulsion (BEV, FCEV), Vehicle Type (Medium-duty Trucks, Heavy-duty Truck, Electric Pickup Trucks, Light Vans, Full-size Vans and Buses & Coaches), Range, Battery Type (LFP Batteries, NMC Batteries, Solid-state Batteries, and Others), Power Output (Less than 100 kW, 100−250 kW, and Above 250 kW), Battery Capacity (Less than 60 kWh, 60−120 kWh, 121−200 kWh, 201−300 kWh, 301−500 kWh, and 501−1,000 kWh), Component (Battery Packs, Onboard Chargers, Electric Motors, Inverters, DC-DC Converters, Fuel-cell Stacks, E-Axels (Including Gearboxes)), End Use (Last-mile Delivery, Field Services, Distribution Services, Refuse Trucks, Long-haul Transportation), by Body Construction (Integrated, Semi-integrated, and Full-sized ) and Region (Asia Pacific, Europe and North America). It also covers the competitive landscape and company profiles of the major players in the electric commercial vehicle market ecosystem.
Key Benefits of the Report
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.
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall electric commercial vehicle market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
- Analysis of key drivers (Decreasing cost of EV batteries, rising fossil fuel prices, increasing demand for emission-free electric commercial vehicles in logistics industry, government initiatives promoting electric commercial vehicle adoption), restraints (High development costs, concerns over battery safety, insufficient EV charging infrastructure), opportunities (New revenue pockets in North America and Northern Europe, development of wireless EV charging technology for on-the-go charging), and challenges (Limited battery capacity, low availability of lithium for EV batteries, insufficient grid infrastructure) influencing the growth of the electric commercial vehicle market.
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the electric commercial vehicle market
- Market Development: Comprehensive information about lucrative markets – the report analyses the electric commercial vehicle market across varied regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the electric commercial vehicle market
- Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players like BYD (China), Mercedes-Benz Group AG (Germany), Yutong (China), AB Volvo (Sweden), Ford Motor Company (US) and among others in the electric commercial vehicle market Page 25 of 34 strategies.
Table of Contents
1 INTRODUCTION 31
1.1 STUDY OBJECTIVES 31
1.2 MARKET DEFINITION 32
1.2.1 INCLUSIONS AND EXCLUSIONS 35
1.3 STUDY SCOPE 37
1.3.1 REGIONS COVERED 37
1.3.2 YEARS CONSIDERED 38
1.3.3 CURRENCY CONSIDERED 38
1.4 STAKEHOLDERS 39
1.5 SUMMARY OF CHANGES 39
2 RESEARCH METHODOLOGY 41
2.1 RESEARCH DATA 41
2.1.1 SECONDARY DATA 43
2.1.1.1 Key data from secondary sources 43
2.1.1.2 List of secondary sources 44
2.1.2 PRIMARY DATA 45
2.1.2.1 Breakdown of primary interviews 45
2.1.2.2 Sampling techniques & data collection methods 46
2.2 MARKET SIZE ESTIMATION 46
2.2.1 BOTTOM-UP APPROACH: ELECTRIC COMMERCIAL VEHICLE MARKET 47
2.2.2 TOP-DOWN APPROACH: ELECTRIC COMMERCIAL VEHICLE MARKET 48
2.3 DATA TRIANGULATION 49
2.4 FACTOR ANALYSIS 50
2.4.1 FACTOR ANALYSIS FOR MARKET SIZING: DEMAND AND SUPPLY SIDES 51
2.5 RESEARCH ASSUMPTIONS 52
2.6 RESEARCH LIMITATIONS 52
3 EXECUTIVE SUMMARY 54
4 PREMIUM INSIGHTS 59
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN ELECTRIC COMMERCIAL VEHICLE MARKET 59
4.2 ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE 59
4.3 ELECTRIC COMMERCIAL VEHICLE MARKET, BY PROPULSION 60
4.4 ELECTRIC COMMERCIAL VEHICLE MARKET, BY BATTERY TYPE 60
4.5 ELECTRIC COMMERCIAL VEHICLE MARKET, BY RANGE 61
4.6 ELECTRIC COMMERCIAL VEHICLE MARKET, BY BATTERY CAPACITY 61
4.7 ELECTRIC COMMERCIAL VEHICLE MARKET, BY POWER OUTPUT 62
4.8 ELECTRIC COMMERCIAL VEHICLE MARKET, BY END USE 62
4.9 ELECTRIC COMMERCIAL VEHICLE MARKET, BY BODY CONSTRUCTION 63
4.10 ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION 63
5 MARKET OVERVIEW 64
5.1 INTRODUCTION 64
5.2 MARKET DYNAMICS 65
5.2.1 DRIVERS 65
5.2.1.1 Decreasing cost of EV batteries 65
5.2.1.2 Rising fossil fuel prices 67
5.2.1.3 Increasing demand for emission-free electric commercial vehicles in logistics industry 68
5.2.1.4 Government initiatives promoting electric commercial vehicle adoption 70
5.2.2 RESTRAINTS 73
5.2.2.1 High development costs 73
5.2.2.2 Concerns over battery safety 73
5.2.2.3 Insufficient EV charging infrastructure 74
5.2.3 OPPORTUNITIES 76
5.2.3.1 New revenue pockets in North America and Northern Europe 76
5.2.3.2 Development of wireless EV charging technology for on-the-go charging 77
5.2.4 CHALLENGES 77
5.2.4.1 Limited battery capacity 77
5.2.4.2 Low availability of lithium for EV batteries 79
5.2.4.3 Insufficient grid infrastructure 79
5.3 PRICING ANALYSIS 80
5.3.1 AVERAGE SELLING PRICE TREND, BY VEHICLE TYPE 80
5.3.2 PRICING ANALYSIS, BY REGION 82
5.4 POTENTIAL ELECTRIC COMMERCIAL VEHICLE LAUNCHES BY OEMS 83
5.5 BILL OF MATERIALS 84
5.6 OEM SOURCING STRATEGIES 87
5.6.1 SOURCING STRATEGIES BY ELECTRIC COMMERCIAL VEHICLE OEMS 87
5.6.2 OEM MOTOR RATING ANALYSIS, BY RANGE 87
5.6.3 COMPETITIVE MARKET ASSESSMENT, BY PAYLOAD CAPACITY 88
5.7 SUPPLY CHAIN ANALYSIS 90
5.8 ECOSYSTEM MAPPING 90
5.8.1 EV CHARGING INFRASTRUCTURE PROVIDERS 92
5.8.2 COMPONENT MANUFACTURERS 92
5.8.3 TIER II SUPPLIERS 92
5.8.4 TIER I SUPPLIERS 92
5.8.5 RAW MATERIAL SUPPLIERS 92
5.8.6 OEMS 92
5.9 TOTAL COST OF OWNERSHIP 95
5.9.1 TOTAL COST OF OWNERSHIP: DIESEL VS. ELECTRIC BUSES 95
5.10 INSIGHTS ON ELECTRIC COMMERCIAL VEHICLES 96
5.10.1 RANGE/BATTERY CAPACITY 96
5.10.2 RANGE/END USE 97
5.10.3 BATTERY CAPACITY/END USE 97
5.10.4 POWER/CHARGING DURATION 98
5.11 CASE STUDY ANALYSIS 99
5.11.1 ASSESSMENT OF INVESTMENT IN ELECTRIC BUSES 99
5.11.2 USER EXPERIENCE OF BATTERY-ELECTRIC TRUCKS IN NORWAY 99
5.11.3 ELECTRIC VEHICLE FLEETS FOR PUBLIC SECTOR IN VERMONT 100
5.12 INVESTMENT AND FUNDING SCENARIO 101
5.13 PATENT ANALYSIS 102
5.13.1 INTRODUCTION 102
5.14 TECHNOLOGY ANALYSIS 107
5.14.1 FUTURE TECHNOLOGY OVERVIEW 108
5.14.2 OFFBOARD TOP-DOWN PANTOGRAPH CHARGING SYSTEMS 109
5.14.3 ONBOARD BOTTOM-UP PANTOGRAPH CHARGING SYSTEMS 109
5.14.4 GROUND-BASED STATIC/DYNAMIC WIRELESS CHARGING SYSTEMS 109
5.14.5 PACKAGED FUEL CELL SYSTEM MODULES 109
5.14.6 METHANE FUEL CELLS 110
5.14.7 SMART CHARGING SYSTEMS 110
5.14.8 IOT IN ELECTRIC VEHICLES 111
5.14.9 SOLID-STATE BATTERIES 111
5.15 TRADE ANALYSIS 112
5.15.1 IMPORT SCENARIO (HS CODE 8702) 112
5.15.2 EXPORT SCENARIO (HS CODE 8702) 114
5.16 REGULATORY LANDSCAPE 115
5.16.1 COUNTRY-WISE REGULATIONS 115
5.16.1.1 Netherlands 116
5.16.1.2 Germany 117
5.16.1.3 France 118
5.16.1.4 UK 118
5.16.1.5 China 119
5.16.1.6 US 120
5.16.2 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 120
5.17 KEY CONFERENCES AND EVENTS, 2025–2026 125
5.18 KEY STAKEHOLDERS AND BUYING CRITERIA 126
5.18.1 KEY STAKEHOLDERS IN BUYING PROCESS 126
5.18.2 BUYING CRITERIA 126
5.19 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 127
6 ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE 129
6.1 INTRODUCTION 130
6.1.1 OPERATIONAL DATA 132
6.2 PICKUP TRUCKS 133
6.2.1 INCREASED OFFERINGS FROM OEMS TO DRIVE MARKET 133
6.3 TRUCKS 134
6.3.1 DEVELOPMENT OF ELECTRIC TRUCKS BY AUTOMOTIVE OEMS TO DRIVE MARKET 134
6.3.1.1 Medium-duty trucks 136
6.3.1.2 Heavy-duty trucks 137
6.4 VANS 139
6.4.1 BOOMING LOGISTICS INDUSTRY TO DRIVE MARKET 139
6.4.1.1 Light vans 140
6.4.1.2 Full-size vans 141
6.5 BUSES & COACHES 143
6.5.1 GROWING DEMAND FOR EMISSION-FREE PUBLIC TRANSPORT
TO DRIVE MARKET 143
6.6 KEY INDUSTRY INSIGHTS 145
7 ELECTRIC COMMERCIAL VEHICLE MARKET, BY PROPULSION 146
7.1 INTRODUCTION 147
7.1.1 OPERATIONAL DATA 148
7.2 BEVS 149
7.2.1 ADVANCEMENTS IN BATTERY TECHNOLOGY TO DRIVE MARKET 149
7.3 FCEVS 150
7.3.1 ONGOING DEVELOPMENTS BY OEMS TO DRIVE MARKET 150
7.4 KEY INDUSTRY INSIGHTS 151
8 ELECTRIC COMMERCIAL VEHICLE MARKET, BY BATTERY TYPE 152
8.1 INTRODUCTION 153
8.2 NMC BATTERIES 154
8.2.1 HIGH DENSITY AND COMPACT SIZE TO DRIVE MARKET 154
8.3 LFP BATTERIES 155
8.3.1 AFFORDABILITY AND SUPERIOR SAFETY TO DRIVE MARKET 155
8.4 SOLID-STATE BATTERIES 157
8.4.1 FAST RECHARGING CAPABILITIES TO DRIVE MARKET 157
8.5 OTHERS 158
8.6 KEY INDUSTRY INSIGHTS 158
9 ELECTRIC COMMERCIAL VEHICLE MARKET, BY BATTERY CAPACITY 159
9.1 INTRODUCTION 160
9.2 LESS THAN 60 KWH 162
9.2.1 INCREASING ADOPTION OF COMPACT ELECTRIC VANS FOR LOCAL TRANSPORTATION TO DRIVE MARKET 162
9.3 60–120 KWH 163
9.3.1 NORTH AMERICAN GOVERNMENT POLICIES FOR ELECTRIFICATION OF TRANSPORTATION TO DRIVE MARKET 163
9.4 121–200 KWH 164
9.4.1 RISING ADOPTION OF ELECTRIFICATION IN TRANSPORT SECTOR TO DRIVE MARKET 164
9.5 201–300 KWH 165
9.5.1 IMPROVED DRIVING RANGE TO FUEL MARKET GROWTH 165
9.6 301–500 KWH 166
9.6.1 INCREASING PREFERENCE FOR LONG-HAUL ELECTRIC COMMERCIAL VEHICLES TO DRIVE MARKET 166
9.7 501–1,000 KWH 167
9.7.1 RISING E-COMMERCE AND RETAIL SECTORS TO DRIVE MARKET 167
9.8 KEY INDUSTRY INSIGHTS 168
10 ELECTRIC COMMERCIAL VEHICLE MARKET, BY POWER OUTPUT 169
10.1 INTRODUCTION 170
10.2 LESS THAN 100 KW 171
10.2.1 GROWING ADOPTION OF ELECTRIC VANS FOR DELIVERIES BY LOGISTICS INDUSTRY TO DRIVE MARKET 171
10.3 100–250 KW 172
10.3.1 INCREASING DEMAND FOR ELECTRIC TRUCKS AND BUSES TO DRIVE MARKET 172
10.4 ABOVE 250 KW 173
10.4.1 RISING DEMAND FOR HIGH-POWERED ELECTRIC TRUCKS AND PICKUP TRUCKS TO DRIVE MARKET 173
10.5 KEY INDUSTRY INSIGHTS 174
11 ELECTRIC COMMERCIAL VEHICLE MARKET, BY RANGE 175
11.1 INTRODUCTION 176
11.2 LESS THAN 150 MILES 177
11.2.1 E-COMMERCE BOOM AND DELIVERY DEMANDS TO DRIVE MARKET 177
11.3 151–300 MILES 178
11.3.1 RISING DEMAND FOR ELECTRIC TRUCKS FROM TRANSPORTATION INDUSTRY TO DRIVE MARKET 178
11.4 ABOVE 300 MILES 179
11.4.1 RISING ADOPTION OF ELECTRIC PICKUP TRUCKS TO DRIVE MARKET 179
11.5 KEY INDUSTRY INSIGHTS 180
12 ELECTRIC COMMERCIAL VEHICLE MARKET, BY END USE 181
12.1 INTRODUCTION 182
12.2 LAST-MILE DELIVERY 183
12.2.1 RISING DEMAND FOR VEHICLE ELECTRIFICATION IN E-COMMERCE SECTOR TO DRIVE MARKET 183
12.3 FIELD SERVICES 184
12.3.1 RISING DEMAND FOR GREEN MOBILITY IN FIELD SERVICES SECTOR TO DRIVE MARKET 184
12.4 DISTRIBUTION SERVICES 184
12.4.1 INCREASING RELIANCE ON DELIVERY SERVICES TO FUEL MARKET EXPANSION 184
12.5 LONG-HAUL TRANSPORTATION 184
12.5.1 PUSH FOR SUSTAINABLE TRANSPORTATION TO DRIVE MARKET 184
12.6 REFUSE TRUCKS 185
12.6.1 GROWING PUBLIC AWARENESS ABOUT RESPONSIBLE WASTE COLLECTION TO DRIVE MARKET 185
12.7 KEY INDUSTRY INSIGHTS 185
13 ELECTRIC COMMERCIAL VEHICLE MARKET, BY BODY CONSTRUCTION 186
13.1 INTRODUCTION 187
13.2 INTEGRATED 188
13.2.1 REDUCED PRODUCTION COSTS TO DRIVE MARKET 188
13.3 SEMI-INTEGRATED 188
13.3.1 IMPROVED STRUCTURAL STRENGTH TO DRIVE MARKET 188
13.4 FULL-SIZED 189
13.4.1 SPACIOUS CARGO CAPACITY TO DRIVE MARKET 189
13.5 KEY INDUSTRY INSIGHTS 189
14 ELECTRIC COMMERCIAL VEHICLE MARKET, BY COMPONENT 190
14.1 INTRODUCTION 190
14.2 BATTERY PACKS 190
14.3 ONBOARD CHARGERS 191
14.4 ELECTRIC MOTORS 192
14.5 INVERTERS 193
14.6 DC-DC CONVERTERS 194
14.7 FUEL-CELL STACKS 194
15 ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION 196
15.1 INTRODUCTION 197
15.2 ASIA PACIFIC 201
15.2.1 MACROECONOMIC OUTLOOK 201
15.2.2 CHINA 206
15.2.2.1 Predominance of leading players to drive market 206
15.2.3 JAPAN 208
15.2.3.1 Increased investments in automotive R&D to drive market 208
15.2.4 INDIA 210
15.2.4.1 Expansion of major OEMs to support market growth 210
15.2.5 SOUTH KOREA 212
15.2.5.1 Rising demand for electric pickup trucks to drive market 212
15.3 EUROPE 214
15.3.1 MACROECONOMIC OUTLOOK 214
15.3.2 FRANCE 220
15.3.2.1 Increased adoption of electric vans for delivery purposes to drive market 220
15.3.3 GERMANY 222
15.3.3.1 Setting up of charging corridors to drive market 222
15.3.4 SPAIN 224
15.3.4.1 Government focus on replacing existing bus and van fleets to drive market 224
15.3.5 AUSTRIA 226
15.3.5.1 Government incentives to drive market 226
15.3.6 NORWAY 228
15.3.6.1 Development of charging infrastructure to drive market 228
15.3.7 SWEDEN 230
15.3.7.1 Presence of market-leading OEMs and startups to drive market 230
15.3.8 NETHERLANDS 231
15.3.8.1 Advancement in EV charging infrastructure to drive market 231
15.3.9 UK 233
15.3.9.1 Government electrification roadmap to drive market 233
15.3.10 ITALY 236
15.3.10.1 Advancements in electric commercial vehicles to drive market 236
15.3.11 OTHERS 237
15.4 NORTH AMERICA 239
15.4.1 MACROECONOMIC OUTLOOK 240
15.4.2 US 246
15.4.2.1 Rising adoption of electric vans to drive market 246
15.4.3 CANADA 249
15.4.3.1 Government plans to electrify transit to drive market 249
16 COMPETITIVE LANDSCAPE 252
16.1 OVERVIEW 252
16.2 KEY PLAYER STRATEGIES/RIGHT TO WIN 252
16.2.1 OVERVIEW OF STRATEGIES ADOPTED BY PLAYERS IN ELECTRIC COMMERCIAL VEHICLES MARKET 252
16.3 MARKET SHARE ANALYSIS, 2024 253
16.4 REVENUE ANALYSIS, 2019–2023 256
16.5 COMPANY VALUATION AND FINANCIAL METRICS 257
16.5.1 COMPANY VALUATION 257
16.5.2 FINANCIAL METRICS 257
16.6 ELECTRIC BUS COMPARISON BY OEMS 258
16.7 BRAND/PRODUCT COMPARISON 260
16.8 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2024 261
16.8.1 STARS 261
16.8.2 EMERGING LEADERS 261
16.8.3 PERVASIVE PLAYERS 261
16.8.4 PARTICIPANTS 261
16.8.5 COMPANY FOOTPRINT: KEY PLAYERS, 2024 263
16.8.5.1 Company Footprint 263
16.8.5.2 Regional Footprint 264
16.8.5.3 Vehicle Type Footprint 265
16.8.5.4 Propulsion Type Footprint 266
16.8.5.5 Battery Type Footprint 267
16.9 COMPANY EVALUATION MATRIX: STARTUPS/SMES , 2024 268
16.9.1 PROGRESSIVE COMPANIES 268
16.9.2 RESPONSIVE COMPANIES 268
16.9.3 DYNAMIC COMPANIES 268
16.9.4 STARTING BLOCKS 268
16.9.5 COMPETITIVE BENCHMARKING, STARTUPS/SMES, 2024 270
16.9.5.1 Detailed list of key startups/SMEs 270
16.10 COMPETITIVE SCENARIO 271
16.10.1 PRODUCT LAUNCHES 271
16.10.2 DEALS 273
16.10.3 EXPANSIONS 275
16.10.4 OTHER DEVELOPMENTS 277
17 COMPANY PROFILES 278
17.1 KEY PLAYERS 278
17.1.1 BYD 278
17.1.1.1 Business overview 278
17.1.1.2 Products offered 279
17.1.1.3 Recent developments 281
17.1.1.3.1 Product launches 281
17.1.1.3.2 Deals 282
17.1.1.3.3 Expansions 285
17.1.1.3.4 Other developments 286
17.1.1.4 MnM view 286
17.1.1.4.1 Key strengths 286
17.1.1.4.2 Strategic choices 286
17.1.1.4.3 Weaknesses and competitive threats 287
17.1.2 MERCEDES-BENZ GROUP AG 288
17.1.2.1 Business overview 288
17.1.2.2 Products offered 290
17.1.2.3 Recent developments 291
17.1.2.3.1 Product launches 291
17.1.2.3.2 Deals 293
17.1.2.3.3 Expansions 294
17.1.2.3.4 Other developments 294
17.1.2.4 MnM view 295
17.1.2.4.1 Key strengths 295
17.1.2.4.2 Strategic choices 295
17.1.2.4.3 Weaknesses and competitive threats 295
17.1.3 YUTONG BUS CO., LTD. 296
17.1.3.1 Business overview 296
17.1.3.2 Products offered 297
17.1.3.3 Recent developments 298
17.1.3.3.1 Product launches 298
17.1.3.3.2 Deals 299
17.1.3.3.3 Expansions 300
17.1.3.4 Other developments 301
17.1.3.5 MnM view 301
17.1.3.5.1 Key strengths 301
17.1.3.5.2 Strategic choices 302
17.1.3.5.3 Weaknesses and competitive threats 302
17.1.4 AB VOLVO 303
17.1.4.1 Business overview 303
17.1.4.2 Products offered 304
17.1.4.3 Recent developments 306
17.1.4.3.1 Product launches 306
17.1.4.3.2 Deals 307
17.1.4.3.3 Expansions 309
17.1.4.4 MnM view 309
17.1.4.4.1 Key strengths 309
17.1.4.4.2 Strategic choices 309
17.1.4.4.3 Weaknesses and competitive threats 309
17.1.5 FORD MOTOR COMPANY 310
17.1.5.1 Business overview 310
17.1.5.2 Products offered 311
17.1.5.3 Recent developments 312
17.1.5.3.1 Product launches 312
17.1.5.3.2 Deals 312
17.1.5.3.3 Expansions 313
17.1.5.3.4 Other developments 313
17.1.5.4 MnM view 314
17.1.5.4.1 Key strengths 314
17.1.5.4.2 Strategic choices 314
17.1.5.4.3 Weaknesses and competitive threats 314
17.1.6 TESLA, INC. 315
17.1.6.1 Business overview 315
17.1.6.2 Products offered 317
17.1.6.3 Recent development 317
17.1.6.3.1 Product launches 317
17.1.6.3.2 Deals 318
17.1.6.3.3 Expansions 318
17.1.7 RENAULT 319
17.1.7.1 Business overview 319
17.1.7.2 Products offered 320
17.1.7.3 Recent development 321
17.1.7.3.1 Product launches 321
17.1.7.3.2 Deals 322
17.1.7.3.3 Expansions 323
17.1.7.3.4 Other developments 323
17.1.8 PACCAR INC. 324
17.1.8.1 Business overview 324
17.1.8.2 Products offered 325
17.1.8.3 Recent developments 326
17.1.8.3.1 Product launches 326
17.1.8.3.2 Deals 327
17.1.8.3.3 Expansions 329
17.1.8.3.4 Other developments 329
17.1.9 SCANIA AB 330
17.1.9.1 Business overview 330
17.1.9.2 Products offered 331
17.1.9.3 Recent developments 332
17.1.9.3.1 Product launches 332
17.1.9.3.2 Deals 332
17.1.9.3.3 Expansions 334
17.1.9.3.4 Other developments 334
17.1.10 DONGFENG MOTOR CORPORATION 335
17.1.10.1 Business overview 335
17.1.10.2 Products offered 336
17.1.10.3 Recent developments 336
17.1.10.3.1 Product launches 336
17.1.10.3.2 Deals 337
17.1.10.3.3 Expansions 338
17.1.10.3.4 Other developments 338
17.1.11 GENERAL MOTORS 339
17.1.11.1 Business overview 339
17.1.11.2 Products offered 340
17.1.11.3 Recent developments 341
17.1.11.3.1 Product launches 341
17.1.11.3.2 Deals 341
17.1.11.3.3 Expansions 341
17.1.11.3.4 Other developments 342
17.1.12 VDL GROEP 343
17.1.12.1 Business overview 343
17.1.12.2 Products offered 344
17.1.12.3 Recent developments 344
17.1.12.3.1 Product launches 344
17.1.12.3.2 Deals 345
17.1.12.3.3 Expansions 346
17.1.12.3.4 Other developments 346
17.1.13 RIVIAN 347
17.1.13.1 Business overview 347
17.1.13.2 Products offered 348
17.1.13.3 Recent developments 348
17.1.13.3.1 Product launches 348
17.1.13.3.2 Deals 349
17.1.13.3.3 Expansions 350
17.2 OTHER PLAYERS 351
17.2.1 TATA MOTORS LIMITED 351
17.2.2 WORKHORSE GROUP 352
17.2.3 NIKOLA CORPORATION 353
17.2.4 ASHOK LEYLAND 354
17.2.5 ISUZU MOTORS LTD. 355
17.2.6 IRIZAR GROUP 356
17.2.7 IVECO 357
17.2.8 BOLLINGER MOTORS 358
17.2.9 XOS TRUCKS INC. 359
17.2.10 MAN SE 360
17.2.11 GOLDEN DRAGON 361
17.2.12 ZENITH MOTORS 362
17.2.13 ARRIVAL 363
17.2.14 LORDSTOWN MOTORS 364
18 RECOMMENDATIONS BY MARKETSANDMARKETS 365
18.1 ASIA PACIFIC TO BE SIGNIFICANT MARKET FOR ELECTRIC COMMERCIAL VEHICLES 365
18.2 LESS THAN 150 MILES TO EMERGE AS LARGEST MARKET SEGMENT 365
18.3 NMC BATTERIES TO BE PROMISING SEGMENT 366
18.4 CONCLUSION 366
19 APPENDIX 367
19.1 KEY INSIGHTS FROM INDUSTRY EXPERTS 367
19.2 DISCUSSION GUIDE 368
19.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 371
19.4 CUSTOMIZATION OPTIONS 373
19.4.1 PROFILING OF ADDITIONAL MARKET PLAYERS (UP TO 5) 373
19.4.2 ELECTRIC COMMERCIAL VEHICLE MARKET, BY END USE, AT REGIONAL LEVEL 373
19.4.3 ELECTRIC COMMERCIAL VEHICLE MARKET, BY BODY CONSTRUCTION AT REGIONAL LEVEL 373
19.5 RELATED REPORTS 373
19.6 AUTHOR DETAILS 374
LIST OF TABLES
TABLE 1 MARKET DEFINITION, BY PROPULSION 32
TABLE 2 MARKET DEFINITION, BY END USE 32
TABLE 3 MARKET DEFINITION, BY BATTERY TYPE 33
TABLE 4 MARKET DEFINITION, BY VEHICLE TYPE 33
TABLE 5 MARKET DEFINITION, BY COMPONENT 34
TABLE 6 INCLUSIONS AND EXCLUSIONS 35
TABLE 7 USD EXCHANGE RATES 38
TABLE 8 PURCHASE ORDER/SUPPLY CONTRACT FOR ELECTRIC COMMERCIAL VEHICLES 69
TABLE 9 GOVERNMENT PROGRAMS FOR ELECTRIC COMMERCIAL VEHICLE SALES 70
TABLE 10 ZERO-EMISSION LIGHT-DUTY VEHICLE POLICIES AND INCENTIVES IN
SELECTED COUNTRIES 71
TABLE 11 EV CHARGER DENSITY, 2024 75
TABLE 12 ELECTRIC COMMERCIAL VEHICLE MODELS, BY COUNTRY, 2023–2024 76
TABLE 13 BATTERY CAPACITIES OF POPULAR ELECTRIC BUSES 78
TABLE 14 ELECTRIC VANS: AVERAGE PRICE (USD), 2024 80
TABLE 15 ELECTRIC PICKUP TRUCKS: AVERAGE PRICE (USD), 2024 81
TABLE 16 ELECTRIC TRUCKS: AVERAGE PRICE (USD), 2024 81
TABLE 17 ELECTRIC BUSES: AVERAGE PRICE (USD), 2024 82
TABLE 18 ELECTRIC TRUCKS: AVERAGE PRICE COMPARISON, BY CLASS 83
TABLE 19 UPCOMING ELECTRIC COMMERCIAL VEHICLES, 2024–2026 83
TABLE 20 ROLE OF COMPANIES IN ELECTRIC COMMERCIAL VEHICLE MARKET ECOSYSTEM 93
TABLE 21 TOTAL COST OF OWNERSHIP, VEHICLE TYPE 95
TABLE 22 ELECTRIC COMMERCIAL VEHICLES: RANGE VS. BATTERY CAPACITY 96
TABLE 23 ELECTRIC COMMERCIAL VEHICLES: RANGE VS. END USE 97
TABLE 24 ELECTRIC COMMERCIAL VEHICLES: BATTERY CAPACITY VS. END USE 97
TABLE 25 ELECTRIC COMMERCIAL VEHICLES: POWER VS. CHARGING DURATION 98
TABLE 26 PATENT REGISTRATIONS RELATED TO ELECTRIC COMMERCIAL VEHICLE
MARKET, 2021–2024 103
TABLE 27 GERMANY: IMPORT DATA FOR HS CODE 8702: ELECTRIC COMMERCIAL VEHICLE IMPORT SHARE, BY COUNTRY, 2019–2023 (000’ USD) 112
TABLE 28 ITALY: IMPORT DATA FOR HS CODE 8702: ELECTRIC COMMERCIAL VEHICLE IMPORT SHARE, BY COUNTRY, 2019–2023 (000’ USD) 112
TABLE 29 FRANCE IMPORT DATA FOR HS CODE 8702: ELECTRIC COMMERCIAL VEHICLE IMPORT SHARE, BY COUNTRY, 2019-2023 (000’ USD) 113
TABLE 30 US: IMPORT DATA FOR HS CODE 8702: ELECTRIC COMMERCIAL VEHICLE IMPORT SHARE, BY COUNTRY, 2019–2023 (000’ USD) 113
TABLE 31 SPAIN: IMPORT DATA FOR HS CODE 8702: ELECTRIC COMMERCIAL VEHICLE IMPORT SHARE, BY COUNTRY, 2019–2023 (000’ USD) 113
TABLE 32 CHINA: EXPORT DATA FOR HS CODE 8702: ELECTRIC COMMERCIAL VEHICLE EXPORT SHARE, BY COUNTRY, 2019–2023 (000’ USD) 114
TABLE 33 TÜRKIYE: EXPORT DATA FOR HS CODE 8702: ELECTRIC COMMERCIAL VEHICLE EXPORT SHARE, BY COUNTRY, 2019–2023 (000’ USD) 114
TABLE 34 JAPAN: EXPORT DATA FOR HS CODE 8702: ELECTRIC COMMERCIAL VEHICLE EXPORT SHARE, BY COUNTRY, 2019–2023 (000’ USD) 114
TABLE 35 POLAND: EXPORT DATA FOR HS CODE 8702: ELECTRIC COMMERCIAL VEHICLE EXPORT SHARE, BY COUNTRY, 2019–2023 (000’ USD) 115
TABLE 36 SPAIN: EXPORT DATA FOR HS CODE 8702: ELECTRIC COMMERCIAL VEHICLE EXPORT SHARE, BY COUNTRY, 2019–2023 (000’ USD) 115
TABLE 37 NETHERLANDS: ELECTRIC VEHICLE INCENTIVES 116
TABLE 38 NETHERLANDS: EV CHARGING STATION INCENTIVES 116
TABLE 39 GERMANY: ELECTRIC VEHICLE INCENTIVES 117
TABLE 40 GERMANY: EV CHARGING STATION INCENTIVES 117
TABLE 41 FRANCE: ELECTRIC VEHICLE INCENTIVES 118
TABLE 42 FRANCE: EV CHARGING STATION INCENTIVES 118
TABLE 43 UK: ELECTRIC VEHICLE INCENTIVES 118
TABLE 44 UK: EV CHARGING STATION INCENTIVES 119
TABLE 45 CHINA: ELECTRIC VEHICLE INCENTIVES 119
TABLE 46 CHINA: EV CHARGING STATION INCENTIVES 119
TABLE 47 US: ELECTRIC VEHICLE INCENTIVES 120
TABLE 48 US: EV CHARGING STATION INCENTIVES 120
TABLE 49 ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 120
TABLE 50 NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 121
TABLE 51 EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 123
TABLE 52 REST OF THE WORLD: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 124
TABLE 53 ELECTRIC COMMERCIAL VEHICLE MARKET: KEY CONFERENCES AND EVENTS, 2025– 2026 125
TABLE 54 INFLUENCE OF INSTITUTIONAL BUYERS ON BUYING PROCESS FOR ELECTRIC COMMERCIAL VEHICLES 126
TABLE 55 ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2019–2023 (UNITS) 130
TABLE 56 ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2024–2030 (UNITS) 131
TABLE 57 ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE,
2019–2023 (USD MILLION) 131
TABLE 58 ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE,
2024–2030 (USD MILLION) 131
TABLE 59 ELECTRIC COMMERCIAL VEHICLE, BY VEHICLE TYPE 132
TABLE 60 PICKUP TRUCKS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION,
2019–2023 (UNITS) 133
TABLE 61 PICKUP TRUCKS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION,
2024–2030 (UNITS) 133
TABLE 62 PICKUP TRUCKS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION,
2019–2023 (USD MILLION) 134
TABLE 63 PICKUP TRUCKS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION,
2024–2030 (USD MILLION) 134
TABLE 64 TRUCKS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION,
2019–2023 (UNITS) 135
TABLE 65 TRUCKS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION,
2024–2030 (UNITS) 135
TABLE 66 TRUCKS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION,
2019–2023 (USD MILLION) 135
TABLE 67 TRUCKS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION,
2024–2030 (USD MILLION) 135
TABLE 68 MEDIUM-DUTY TRUCKS: ELECTRIC COMMERCIAL VEHICLE MARKET,
BY REGION, 2019–2023 (UNITS) 136
TABLE 69 MEDIUM-DUTY TRUCKS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2024–2030 (UNITS) 136
TABLE 70 MEDIUM-DUTY TRUCKS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2019–2023 (USD MILLION) 137
TABLE 71 MEDIUM-DUTY TRUCKS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2024–2030 (USD MILLION) 137
TABLE 72 HEAVY-DUTY TRUCKS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2019–2023 (UNITS) 138
TABLE 73 HEAVY-DUTY TRUCKS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2024–2030 (UNITS) 138
TABLE 74 HEAVY-DUTY TRUCKS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2019–2023 (USD MILLION) 138
TABLE 75 HEAVY-DUTY TRUCKS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2024–2030 (USD MILLION) 138
TABLE 76 VANS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION,
2019–2023 (UNITS) 139
TABLE 77 VANS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION,
2024–2030 (UNITS) 139
TABLE 78 VANS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION,
2019–2023 (USD MILLION) 140
TABLE 79 VANS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION,
2024–2030 (USD MILLION) 140
TABLE 80 LIGHT VANS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION,
2019–2023 (UNITS) 140
TABLE 81 LIGHT VANS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION,
2024–2030 (UNITS) 141
TABLE 82 LIGHT VANS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION,
2019–2023 (USD MILLION) 141
TABLE 83 LIGHT VANS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION,
2024–2030 (USD MILLION) 141
TABLE 84 FULL-SIZE VANS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION,
2019–2023 (UNITS) 142
TABLE 85 FULL-SIZE VANS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION,
2024–2030 (UNITS) 142
TABLE 86 FULL-SIZE VANS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION,
2019–2023 (USD MILLION) 142
TABLE 87 FULL-SIZE VANS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION,
2024–2030 (USD MILLION) 142
TABLE 88 BUSES & COACHES: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2019–2023 (UNITS) 143
TABLE 89 BUSES & COACHES: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2024–2030 (UNITS) 144
TABLE 90 BUSES & COACHES: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2019–2023 (USD MILLION) 144
TABLE 91 BUSES & COACHES: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2024–2030 (USD MILLION) 144
TABLE 92 ELECTRIC COMMERCIAL VEHICLE MARKET, BY PROPULSION,
2019–2023 (UNITS) 147
TABLE 93 ELECTRIC COMMERCIAL VEHICLE MARKET, BY PROPULSION, 2024–2030 (UNITS) 148
TABLE 94 ELECTRIC COMMERCIAL VEHICLE MODELS, BY PROPULSION TYPE 148
TABLE 95 BEVS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2019–2023 (UNITS) 150
TABLE 96 BEVS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2024–2030 (UNITS) 150
TABLE 97 FCEVS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION,
2019–2023 (UNITS) 151
TABLE 98 FCEVS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION,
2024–2030 (UNITS) 151
TABLE 99 ELECTRIC COMMERCIAL VEHICLE MARKET, BY BATTERY TYPE,
2019–2023 (UNITS) 153
TABLE 100 ELECTRIC COMMERCIAL VEHICLE MARKET, BY BATTERY TYPE,
2024–2030 (UNITS) 154
TABLE 101 NMC BATTERIES: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION,
2019–2023 (UNITS) 154
TABLE 102 NMC BATTERIES: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION,
2024–2030 (UNITS) 155
TABLE 103 ELECTRIC COMMERCIAL VEHICLE MODELS WITH LITHIUM-ION BATTERIES 156
TABLE 104 LFP BATTERIES: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION,
2019–2023 (UNITS) 156
TABLE 105 LFP BATTERIES: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION,
2024–2030 (UNITS) 156
TABLE 106 SOLID-STATE BATTERIES: ELECTRIC COMMERCIAL VEHICLE MARKET,
BY REGION, 2019–2023 (UNITS) 157
TABLE 107 SOLID-STATE BATTERIES: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2024–2030 (UNITS) 157
TABLE 108 OTHERS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION,
2019–2023 (UNITS) 158
TABLE 109 OTHERS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION,
2024–2030 (UNITS) 158
TABLE 110 ELECTRIC COMMERCIAL VEHICLE MARKET, BY BATTERY CAPACITY,
2019–2023 (UNITS) 161
TABLE 111 ELECTRIC COMMERCIAL VEHICLE MARKET, BY BATTERY CAPACITY,
2024–2030 (UNITS) 161
TABLE 112 LESS THAN 60 KWH: ELECTRIC COMMERCIAL VEHICLE MARKET,
BY REGION, 2019–2023 (UNITS) 162
TABLE 113 LESS THAN 60 KWH: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2024–2030 (UNITS) 162
TABLE 114 60–120 KWH: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION,
2019–2023 (UNITS) 163
TABLE 115 60–120 KWH: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION,
2024–2030 (UNITS) 163
TABLE 116 121–200 KWH: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION,
2019–2023 (UNITS) 164
TABLE 117 121–200 KWH: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION,
2024–2030 (UNITS) 164
TABLE 118 201–300 KWH ELECTRIC COMMERCIAL VEHICLE MODELS, BY OEMS 165
TABLE 119 201–300 KWH: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION,
2019–2023 (UNITS) 165
TABLE 120 201–300 KWH: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION,
2024–2030 (UNITS) 165
TABLE 121 301–500 KWH: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION,
2019–2023 (UNITS) 166
TABLE 122 301–500 KWH: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION,
2024–2030 (UNITS) 166
TABLE 123 501–1,000 KWH: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION,
2019–2023 (UNITS) 167
TABLE 124 501–1,000 KWH: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION,
2024–2030 (UNITS) 167
TABLE 125 ELECTRIC COMMERCIAL VEHICLE MARKET, BY POWER OUTPUT,
2019–2023 (UNITS) 170
TABLE 126 ELECTRIC COMMERCIAL VEHICLE MARKET, BY POWER OUTPUT,
2024–2030 (UNITS) 171
TABLE 127 LESS THAN 100 KW: ELECTRIC COMMERCIAL VEHICLE MARKET,
BY REGION 2019–2023 (UNITS) 171
TABLE 128 LESS THAN 100 KW: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION 2024–2030 (UNITS) 172
TABLE 129 100–250 KW: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION,
2019–2023 (UNITS) 172
TABLE 130 100–250 KW: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION,
2024–2030 (UNITS) 173
TABLE 131 ABOVE 250 KW: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION,
2019–2023 (UNITS) 174
TABLE 132 ABOVE 250 KW: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION,
2024–2030 (UNITS) 174
TABLE 133 ELECTRIC COMMERCIAL VEHICLE MARKET, BY RANGE, 2019–2023 (UNITS) 176
TABLE 134 ELECTRIC COMMERCIAL VEHICLE MARKET, BY RANGE, 2024–2030 (UNITS) 176
TABLE 135 LESS THAN 150 MILES: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2019–2023 (UNITS) 177
TABLE 136 LESS THAN 150 MILES: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2024–2030 (UNITS) 177
TABLE 137 151–300 MILES: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION,
2019–2023 (UNITS) 178
TABLE 138 151–300 MILES: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION,
2024–2030 (UNITS) 178
TABLE 139 ABOVE 300 MILES: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION,
2019–2023 (UNITS) 179
TABLE 140 ABOVE 300 MILES: ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION,
2024–2030 (UNITS) 179
TABLE 141 ELECTRIC COMMERCIAL VEHICLE MARKET, BY END USE, 2019–2023 (UNITS) 182
TABLE 142 ELECTRIC COMMERCIAL VEHICLE MARKET, BY END USE, 2024–2030 (UNITS) 183
TABLE 143 ELECTRIC COMMERCIAL VEHICLE MARKET, BY BODY CONSTRUCTION,
2019–2023 (UNITS) 187
TABLE 144 ELECTRIC COMMERCIAL VEHICLE MARKET, BY BODY CONSTRUCTION,
2024–2030 (UNITS) 188
TABLE 145 PRODUCTS OFFERED BY BATTERY MANUFACTURERS 191
TABLE 146 ONBOARD CHARGER MANUFACTURERS FOR ELECTRIC COMMERCIAL VEHICLES 192
TABLE 147 ELECTRIC TRUCK MODELS, BY ELECTRIC MOTOR TYPE 193
TABLE 148 INVERTER MANUFACTURERS FOR ELECTRIC COMMERCIAL VEHICLES 193
TABLE 149 ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2019–2023 (UNITS) 199
TABLE 150 ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2024–2030 (UNITS) 199
TABLE 151 ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION,
2019–2023 (USD MILLION) 199
TABLE 152 ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION,
2024–2030 (USD MILLION) 200
TABLE 153 ASIA PACIFIC: ELECTRIC COMMERCIAL VEHICLE MARKET, BY COUNTRY,
2019–2023 (UNITS) 204
TABLE 154 ASIA PACIFIC: ELECTRIC COMMERCIAL VEHICLE MARKET, BY COUNTRY,
2024–2030 (UNITS) 205
TABLE 155 ASIA PACIFIC: ELECTRIC COMMERCIAL VEHICLE MARKET, BY COUNTRY,
2019–2023 (USD MILLION) 205
TABLE 156 ASIA PACIFIC: ELECTRIC COMMERCIAL VEHICLE MARKET, BY COUNTRY,
2024–2030 (USD MILLION) 205
TABLE 157 CHINA: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE,
2019–2023 (UNITS) 206
TABLE 158 CHINA: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE,
2024–2030 (UNITS) 206
TABLE 159 CHINA: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE,
2019–2023 (USD MILLION) 207
TABLE 160 CHINA: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE,
2024–2030 (USD MILLION) 207
TABLE 161 JAPAN: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE,
2019–2023 (UNITS) 208
TABLE 162 JAPAN ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE,
2024–2030 (UNITS) 208
TABLE 163 JAPAN: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE,
2019–2023 (USD MILLION) 209
TABLE 164 JAPAN ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE,
2024–2030 (USD MILLION) 209
TABLE 165 INDIA: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE,
2019–2023 (UNITS) 210
TABLE 166 INDIA: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE,
2024–2030 (UNITS) 210
TABLE 167 INDIA: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE,
2019–2023 (USD MILLION) 211
TABLE 168 INDIA: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE,
2024–2030 (USD MILLION) 211
TABLE 169 SOUTH KOREA: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2019–2023 (UNITS) 212
TABLE 170 SOUTH KOREA: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2024–2030 (UNITS) 212
TABLE 171 SOUTH KOREA: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2019–2023 (USD MILLION) 213
TABLE 172 SOUTH KOREA: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2024–2030 (USD MILLION) 213
TABLE 173 EUROPE: ELECTRIC COMMERCIAL VEHICLE MARKET, BY COUNTRY,
2019–2023 (UNITS) 217
TABLE 174 EUROPE: ELECTRIC COMMERCIAL VEHICLE MARKET, BY COUNTRY,
2024–2030 (UNITS) 218
TABLE 175 EUROPE: ELECTRIC COMMERCIAL VEHICLE MARKET, BY COUNTRY,
2019–2023 (USD MILLION) 218
TABLE 176 EUROPE: ELECTRIC COMMERCIAL VEHICLE MARKET, BY COUNTRY,
2024–2030 (USD MILLION) 219
TABLE 177 FRANCE: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE,
2019–2023 (UNITS) 220
TABLE 178 FRANCE: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE,
2024–2030 (UNITS) 220
TABLE 179 FRANCE: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE,
2019–2023 (USD MILLION) 221
TABLE 180 FRANCE: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE,
2024–2030 (USD MILLION) 221
TABLE 181 GERMANY: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE,
2019–2023 (UNITS) 222
TABLE 182 GERMANY: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE,
2024–2030 (UNITS) 222
TABLE 183 GERMANY: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE,
2019–2023 (USD MILLION) 223
TABLE 184 GERMANY: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE,
2024–2030 (USD MILLION) 223
TABLE 185 SPAIN: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE,
2019–2023 (UNITS) 224
TABLE 186 SPAIN: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE,
2024–2030 (UNITS) 224
TABLE 187 SPAIN: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE,
2019–2023 (USD MILLION) 225
TABLE 188 SPAIN: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE,
2024–2030 (USD MILLION) 225
TABLE 189 AUSTRIA: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE,
2019–2023 (UNITS) 226
TABLE 190 AUSTRIA: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE,
2024–2030 (UNITS) 226
TABLE 191 AUSTRIA: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE,
2019–2023 (USD MILLION) 227
TABLE 192 AUSTRIA: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE,
2024–2030 (USD MILLION) 227
TABLE 193 NORWAY: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE,
2019–2023 (UNITS) 228
TABLE 194 NORWAY: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE,
2024–2030 (UNITS) 228
TABLE 195 NORWAY: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE,
2019–2023 (USD MILLION) 229
TABLE 196 NORWAY: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE,
2024–2030 (USD MILLION) 229
TABLE 197 SWEDEN: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE,
2019–2023 (UNITS) 230
TABLE 198 SWEDEN: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE,
2024–2030 (UNITS) 230
TABLE 199 SWEDEN: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE,
2019–2023 (USD MILLION) 231
TABLE 200 SWEDEN: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE,
2024–2030 (USD MILLION) 231
TABLE 201 NETHERLANDS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2019–2023 (UNITS) 232
TABLE 202 NETHERLANDS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2024–2030 (UNITS) 232
TABLE 203 NETHERLANDS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2019–2023 (USD MILLION) 232
TABLE 204 NETHERLANDS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2024–2030 (USD MILLION) 233
TABLE 205 UK: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE,
2019–2023 (UNITS) 234
TABLE 206 UK: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE,
2024–2030 (UNITS) 235
TABLE 207 UK: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE,
2019–2023 (USD MILLION) 235
TABLE 208 UK: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE,
2024–2030 (USD MILLION) 235
TABLE 209 ITALY: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE,
2019–2023 (UNITS) 236
TABLE 210 ITALY: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE,
2024–2030 (UNITS) 236
TABLE 211 ITALY: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE,
2019–2023 (USD MILLION) 237
TABLE 212 ITALY: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE,
2024–2030 (USD MILLION) 237
TABLE 213 OTHERS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE,
2019–2023 (UNITS) 238
TABLE 214 OTHERS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE,
2024–2030 (UNITS) 238
TABLE 215 OTHERS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE,
2019–2023 (USD MILLION) 238
TABLE 216 OTHERS: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE,
2024–2030 (USD MILLION) 239
TABLE 217 NORTH AMERICA: ELECTRIC COMMERCIAL VEHICLE MARKET, BY COUNTRY,
2019–2023 (UNITS) 244
TABLE 218 NORTH AMERICA: ELECTRIC COMMERCIAL VEHICLE MARKET, BY COUNTRY,
2024–2030 (UNITS) 245
TABLE 219 NORTH AMERICA: ELECTRIC COMMERCIAL VEHICLE MARKET, BY COUNTRY,
2019–2023 (USD MILLION) 245
TABLE 220 NORTH AMERICA: ELECTRIC COMMERCIAL VEHICLE MARKET, BY COUNTRY,
2024–2030 (USD MILLION) 245
TABLE 221 US: ELECTRIC VEHICLE INCENTIVES 247
TABLE 222 US: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE,
2019–2023 (UNITS) 247
TABLE 223 US: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE,
2024–2030 (UNITS) 248
TABLE 224 US: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE,
2019–2023 (USD MILLION) 248
TABLE 225 US: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE,
2024–2030 (USD MILLION) 248
TABLE 226 CANADA: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE,
2019–2023 (UNITS) 249
TABLE 227 CANADA: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE,
2024–2030 (UNITS) 250
TABLE 228 CANADA: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE,
2019–2023 (USD MILLION) 250
TABLE 229 CANADA: ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE,
2024–2030 (USD MILLION) 250
TABLE 230 OVERVIEW OF STRATEGIES DEPLOYED BY KEY COMPANIES 252
TABLE 231 ELECTRIC COMMERCIAL VEHICLE MARKET SHARE OF TOP FIVE PLAYERS, 2024 254
TABLE 232 ELECTRIC COMMERCIAL VEHICLE MARKET: ELECTRIC BUS COMPARISON 258
TABLE 233 ELECTRIC COMMERCIAL VEHICLE MARKET: ELECTRIC VANS COMPARISON 259
TABLE 234 ELECTRIC COMMERCIAL VEHICLE MARKET: REGIONAL TYPE FOOTPRINT, 2024 264
TABLE 235 ELECTRIC COMMERCIAL VEHICLE MARKET: VEHICLE TYPE FOOTPRINT, 2024 265
TABLE 236 ELECTRIC COMMERCIAL VEHICLE MARKET: PROPULSION TYPE FOOTPRINT, 2024 266
TABLE 237 ELECTRIC COMMERCIAL VEHICLE MARKET: BATTERY TYPE FOOTPRINT, 2024 267
TABLE 238 ELECTRIC COMMERCIAL VEHICLE MARKET: KEY STARTUPS/SMES 270
TABLE 239 ELECTRIC COMMERCIAL VEHICLE MARKET: PRODUCT LAUNCHES,
JANUARY 2021–JANUARY 2025 271
TABLE 240 ELECTRIC COMMERCIAL VEHICLE MARKET: DEALS, JANUARY 2021–
JANUARY 2025 273
TABLE 241 ELECTRIC COMMERCIAL VEHICLE MARKET: EXPANSIONS,
JANUARY 2021–JANUARY 2025 275
TABLE 242 ELECTRIC COMMERCIAL VEHICLE MARKET: OTHER DEVELOPMENTS, JANUARY 2021–JANUARY 2025 277
TABLE 243 BYD: COMPANY OVERVIEW 278
TABLE 244 BYD: PRODUCTS OFFERED 279
TABLE 245 BYD: PRODUCT LAUNCHES, JANUARY 2021–JANUARY 2025 281
TABLE 246 BYD: DEALS, JANUARY 2021–JANUARY 2025 282
TABLE 247 BYD: EXPANSIONS, JANUARY 2021–JANUARY 2025 285
TABLE 248 BYD: OTHER DEVELOPMENTS, JANUARY 2021–JANUARY 2025 286
TABLE 249 MERCEDES-BENZ GROUP AG: COMPANY OVERVIEW 288
TABLE 250 MERCEDES-BENZ GROUP AG: PRODUCTS OFFERED 290
TABLE 251 MERCEDES-BENZ GROUP AG: PRODUCT LAUNCHES, JANUARY 2021–
JANUARY 2025 291
TABLE 252 MERCEDES-BENZ GROUP AG: DEALS, JANUARY 2021–JANUARY 2025 293
TABLE 253 MERCEDES-BENZ GROUP AG: EXPANSIONS, JANUARY 2021–JANUARY 2025 294
TABLE 254 MERCEDES-BENZ GROUP AG: OTHER DEVELOPMENTS, JANUARY 2021–J
ANUARY 2025 294
TABLE 255 YUTONG BUS CO., LTD.: COMPANY OVERVIEW 296
TABLE 256 YUTONG BUS CO., LTD.: PRODUCTS OFFERED 297
TABLE 257 YUTONG BUS CO., LTD.: PRODUCT LAUNCHES, JANUARY 2021–JANUARY 2025 298
TABLE 258 YUTONG BUS CO., LTD.: DEALS, JANUARY 2021–JANUARY 2025 299
TABLE 259 YUTONG BUS CO., LTD.: EXPANSIONS, JANUARY 2021–JANUARY 2025 300
TABLE 260 YUTONG BUS CO., LTD.: OTHER DEVELOPMENTS, JANUARY 2021–JANUARY 2025 301
TABLE 261 AB VOLVO: COMPANY OVERVIEW 303
TABLE 262 AB VOLVO: PRODUCTS OFFERED 304
TABLE 263 AB VOLVO: PRODUCT LAUNCHES, JANUARY 2021–JANUARY 2025 306
TABLE 264 AB VOLVO: DEALS, JANUARY 2021–JANUARY 2025 307
TABLE 265 AB VOLVO: EXPANSIONS, JANUARY 2021–JANUARY 2025 309
TABLE 266 FORD MOTOR COMPANY: COMPANY OVERVIEW 310
TABLE 267 FORD MOTOR COMPANY: PRODUCTS OFFERED 311
TABLE 268 FORD MOTOR COMPANY: PRODUCT LAUNCHES, JANUARY 2021–JANUARY 2025 312
TABLE 269 FORD MOTOR COMPANY: DEALS, JANUARY 2021–JANUARY 2025 312
TABLE 270 FORD MOTOR COMPANY: EXPANSIONS, JANUARY 2021–JANUARY 2025 313
TABLE 271 FORD MOTORS COMPANY: OTHER DEVELOPMENTS, JANUARY 2021–
JANUARY 2025 313
TABLE 272 TESLA, INC.: COMPANY OVERVIEW 315
TABLE 273 TESLA, INC.: PRODUCTS OFFERED 317
TABLE 274 TESLA, INC.: PRODUCT LAUNCHES, JANUARY 2021–JANUARY 2025 317
TABLE 275 TESLA, INC.: DEALS, JANUARY 2021–JANUARY 2025 318
TABLE 276 TESLA, INC.: EXPANSIONS, JANUARY 2021–JANUARY 2025 318
TABLE 277 RENAULT: COMPANY OVERVIEW 319
TABLE 278 RENAULT: PRODUCTS OFFERED 320
TABLE 279 RENAULT: PRODUCT LAUNCHES, JANUARY 2021–JANUARY 2025 321
TABLE 280 RENAULT: DEALS, JANUARY 2021–JANUARY 2025 322
TABLE 281 RENAULT: EXPANSIONS, JANUARY 2021–JANUARY 2025 323
TABLE 282 RENAULT: OTHER DEVELOPMENTS, JANUARY 2021–JANUARY 2025 323
TABLE 283 PACCAR INC.: COMPANY OVERVIEW 324
TABLE 284 PACCAR INC.: PRODUCTS OFFERED 325
TABLE 285 PACCAR INC.: PRODUCT LAUNCHES, JANUARY 2021–JANUARY 2025 326
TABLE 286 PACCAR INC.: DEALS, JANUARY 2021–JANUARY 2025 327
TABLE 287 PACCAR INC.: EXPANSIONS, JANUARY 2021–JANUARY 2025 329
TABLE 288 PACCAR INC.: OTHER DEVELOPMENTS, JANUARY 2021–JANUARY 2025 329
TABLE 289 SCANIA AB: COMPANY OVERVIEW 330
TABLE 290 SCANIA AB: PRODUCTS OFFERED 331
TABLE 291 SCANIA AB: PRODUCT LAUNCHES, JANUARY 2021–JANUARY 2025 332
TABLE 292 SCANIA AB: DEALS, JANUARY 2021–JANUARY 2025 332
TABLE 293 SCANIA AB: EXPANSIONS, JANUARY 2021–JANUARY 2025 334
TABLE 294 SCANIA AB: OTHER DEVELOPMENTS, JANUARY 2021–JANUARY 2025 334
TABLE 295 DONGFENG MOTOR CORPORATION: COMPANY OVERVIEW 335
TABLE 296 DONGFENG MOTOR CORPORATION: PRODUCTS OFFERED 336
TABLE 297 DONGFENG MOTOR CORPORATION: PRODUCT LAUNCHES, JANUARY 2021–JANUARY 2025 336
TABLE 298 DONGFENG MOTOR CORPORATION: DEALS, JANUARY 2021–JANUARY 2025 337
TABLE 299 DONGFENG MOTOR CORPORATION: EXPANSIONS, JANUARY 2021–JANUARY 2025 338
TABLE 300 DONGFENG MOTOR CORPORATION: OTHER DEVELOPMENTS, JANUARY 2021–JANUARY 2025 338
TABLE 301 GENERAL MOTORS: COMPANY OVERVIEW 339
TABLE 302 GENERAL MOTORS: PRODUCTS OFFERED 340
TABLE 303 GENERAL MOTORS: PRODUCT LAUNCHES, JANUARY 2021–JANUARY 2025 341
TABLE 304 GENERAL MOTORS: DEALS, JANUARY 2021–JANUARY 2025 341
TABLE 305 GENERAL MOTORS: EXPANSIONS, JANUARY 2021–JANUARY 2025 341
TABLE 306 GENERAL MOTORS: OTHER DEVELOPMENTS, JANUARY 2021–JANUARY 2025 342
TABLE 307 VDL GROEP: COMPANY OVERVIEW 343
TABLE 308 VDL GROEP: PRODUCTS OFFERED 344
TABLE 309 VDL GROEP: PRODUCT LAUNCHES, JANUARY 2021–JANUARY 2025 344
TABLE 310 VDL GROEP: DEALS, JANUARY 2021–JANUARY 2025 345
TABLE 311 VDL GROEP: EXPANSIONS, JANUARY 2021–JANUARY 2025 346
TABLE 312 VDL GROEP: OTHER DEVELOPMENTS, JANUARY 2021–JANUARY 2025 346
TABLE 313 RIVIAN: COMPANY OVERVIEW 347
TABLE 314 RIVIAN: PRODUCTS OFFERED 348
TABLE 315 RIVIAN: PRODUCT LAUNCHES, JANUARY 2021–JANUARY 2025 348
TABLE 316 RIVIAN: DEALS, JANUARY 2021–JANUARY 2025 349
TABLE 317 RIVIAN: EXPANSIONS, JANUARY 2021–JANUARY 2025 350
LIST OF FIGURES
FIGURE 1 ELECTRIC COMMERCIAL VEHICLE MARKET SEGMENTATION 37
FIGURE 2 RESEARCH DESIGN 41
FIGURE 3 RESEARCH DESIGN MODEL 42
FIGURE 4 RESEARCH METHODOLOGY: HYPOTHESIS BUILDING 47
FIGURE 5 APPROACH 1: BOTTOM-UP APPROACH: ELECTRIC COMMERCIAL VEHICLE MARKET 48
FIGURE 6 APPROACH 2: BOTTOM-UP APPROACH: ELECTRIC COMMERCIAL VEHICLE MARKET 48
FIGURE 7 DATA TRIANGULATION 49
FIGURE 8 ELECTRIC COMMERCIAL VEHICLE MARKET OVERVIEW 55
FIGURE 9 ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION,
2024 VS. 2030 (USD MILLION) 56
FIGURE 10 ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2024 VS. 2030 (USD MILLION) 57
FIGURE 11 KEY PLAYERS IN ELECTRIC COMMERCIAL VEHICLE MARKET 58
FIGURE 12 INCREASING ADOPTION OF ZERO-EMISSION VEHICLES TO DRIVE MARKET 59
FIGURE 13 LIGHT VANS SEGMENT TO LEAD MARKET DURING FORECAST PERIOD 59
FIGURE 14 BEVS SEGMENT TO DOMINATE MARKET DURING FORECAST PERIOD 60
FIGURE 15 NMC BATTERIES SEGMENT TO HAVE LARGEST MARKET SHARE DURING
FORECAST PERIOD 60
FIGURE 16 LESS THAN 150 MILES SEGMENT TO LEAD MARKET DURING FORECAST PERIOD 61
FIGURE 17 501-1,000 KWH SEGMENT TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD 61
FIGURE 18 ABOVE 250 KW SEGMENT TO REGISTER HIGHEST RATE DURING
FORECAST PERIOD 62
FIGURE 19 LONG-HAUL TRANSPORTATION SEGMENT TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD 62
FIGURE 20 INTEGRATED SEGMENT TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD 63
FIGURE 21 ASIA PACIFIC TO LEAD MARKET DURING FORECAST PERIOD 63
FIGURE 22 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES IN ELECTRIC COMMERCIAL VEHICLE MARKET 65
FIGURE 23 EV BATTERY PRICING, 2019–2025 66
FIGURE 24 AVERAGE GLOBAL PETROL PRICES 2001 VS. 2011 VS. 2024 67
FIGURE 25 OPERATING COST COMPARISON OF EVS AND ICE VEHICLES 68
FIGURE 26 LIFE-CYCLE GHG EMISSIONS FOR 40-TON TRACTOR TRAILERS,
2021 VS. 2030 SCENARIOS 69
FIGURE 27 GLOBAL REGULATORY COMPARISON FOR ELECTRIC VEHICLES AND CHARGERS 72
FIGURE 28 GLOBAL ELECTRIFICATION TARGETS, 2024 72
FIGURE 29 BATTERY SAFETY ARCHITECTURE 74
FIGURE 30 PRIVATE, SEMI-PUBLIC, AND PUBLIC CHARGING OWNERSHIP 75
FIGURE 31 FUNCTIONING OF WIRELESSLY CHARGED ELECTRIC BUSES 77
FIGURE 32 TIME REQUIRED FOR DIFFERENT CHARGING TYPES 78
FIGURE 33 GROWING DEMAND FOR LITHIUM-ION BATTERIES, 2010–2030 79
FIGURE 34 GRID REQUIREMENT FOR ELECTRIC VEHICLES IN GERMANY 80
FIGURE 35 PRICING ANALYSIS, BY REGION 82
FIGURE 36 BILL OF MATERIALS: ELECTRIC LIGHT COMMERCIAL VEHICLES (USD) 84
FIGURE 37 BILL OF MATERIALS: BATTERY VS. NON-BATTERY COMPONENTS (USD) 85
FIGURE 38 BILL OF MATERIALS: ELECTRIC BUS MARKET (USD) 86
FIGURE 39 OEM SOURCING STRATEGIES 87
FIGURE 40 ELECTRIC COMMERCIAL VEHICLE MARKET, BY POWER RANGE (KW) 88
FIGURE 41 MARKET COMPETITIVE ASSESSMENT, BY PAYLOAD CAPACITY 89
FIGURE 42 CARGO DELIVERY VS. PAYLOAD CAPACITY 89
FIGURE 43 SUPPLY CHAIN ANALYSIS 90
FIGURE 44 ELECTRIC COMMERCIAL VEHICLE MARKET ECOSYSTEM 91
FIGURE 45 ELECTRIC COMMERCIAL VEHICLE MARKET ECOSYSTEM MAP 91
FIGURE 46 COMPARISON OF TOTAL COST OF OWNERSHIP: 12 M ELECTRIC BUSES VS. 12 M DIESEL BUSES 95
FIGURE 47 TOTAL COST OF OWNERSHIP: FORD ELECTRIC TRANSIT VS. ICE
TRANSIT 3.5 TONS MODELS 96
FIGURE 48 INVESTMENT AND FUNDING, 2022–2024 101
FIGURE 49 PATENT ANALYSIS, 2015–2025 102
FIGURE 50 ELECTRIC COMMERCIAL VEHICLE MARKET: FUTURE TECHNOLOGY OVERVIEW OF ELECTRICAL COMMERCIAL BUSES 108
FIGURE 51 PACKAGED FUEL CELL SYSTEM MODULE OF TOYOTA 110
FIGURE 52 SMART EV CHARGING SYSTEM 111
FIGURE 53 KEY BUYING CRITERIA FOR COMMERCIAL VEHICLE TYPE 127
FIGURE 54 ELECTRIC COMMERCIAL VEHICLE MARKET: TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 127
FIGURE 55 ELECTRIC COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE,
2024 VS. 2030 (USD MILLION) 130
FIGURE 56 ELECTRIC COMMERCIAL VEHICLE MARKET, BY PROPULSION,
2024 VS. 2030 (THOUSAND UNITS) 147
FIGURE 57 ELECTRIC COMMERCIAL VEHICLE MARKET, BY BATTERY TYPE,
2024–2030 (THOUSAND UNITS) 153
FIGURE 58 ELECTRIC COMMERCIAL VEHICLE MARKET, BY BATTERY CAPACITY,
2024 VS. 2030 (THOUSAND UNITS) 160
FIGURE 59 ELECTRIC COMMERCIAL VEHICLE MARKET, BY POWER OUTPUT,
2024 VS. 2030 (THOUSAND UNITS) 170
FIGURE 60 ELECTRIC COMMERCIAL VEHICLE MARKET, BY RANGE,
2024 VS. 2030 (THOUSAND UNITS) 176
FIGURE 61 ELECTRIC COMMERCIAL VEHICLE MARKET, BY END USE,
2024 VS. 2030 (THOUSAND UNITS) 182
FIGURE 62 ELECTRIC COMMERCIAL VEHICLE MARKET, BY BODY CONSTRUCTION,
2024 VS. 2030 (THOUSAND UNITS) 187
FIGURE 63 CONSTITUENTS OF ELECTRIC VEHICLE CHARGING SYSTEM 192
FIGURE 64 DC-DC CONVERTER 194
FIGURE 65 HYDROGEN FUEL CELL VEHICLE COMPONENTS 195
FIGURE 66 GLOBAL LIGHT ELECTRIC COMMERCIAL VEHICLE TARGETS 198
FIGURE 67 ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION,
2024 VS. 2030 (USD MILLION) 198
FIGURE 68 TIMELINE OF ALL EXISTING AND UPCOMING REGULATIONS IN EUROPE,
US, AND CHINA 199
FIGURE 69 ASIA PACIFIC: REAL GDP GROWTH RATE, BY COUNTRY, 2023–2025 202
FIGURE 70 ASIA PACIFIC: GDP PER CAPITA, BY COUNTRY, 2023–2025 202
FIGURE 71 ASIA PACIFIC: INFLATION RATE AVERAGE CONSUMER PRICES,
BY COUNTRY, 2023–2025 203
FIGURE 72 ASIA PACIFIC: MANUFACTURING INDUSTRY CONTRIBUTION TO GDP, 2023 203
FIGURE 73 ASIA PACIFIC: ELECTRIC COMMERCIAL VEHICLE MARKET SNAPSHOT 204
FIGURE 74 EUROPE: REAL GDP GROWTH RATE, BY COUNTRY, 2023–2025 215
FIGURE 75 EUROPE: GDP PER CAPITA, BY COUNTRY, 2023–2025 215
FIGURE 76 EUROPE: INFLATION RATE AVERAGE CONSUMER PRICES, BY COUNTRY,
2023–2025 216
FIGURE 77 EUROPE: MANUFACTURING INDUSTRY CONTRIBUTION TO GDP, 2023 216
FIGURE 78 EUROPE: ELECTRIC COMMERCIAL VEHICLE MARKET, BY COUNTRY,
2024 VS. 2030 (USD MILLION) 217
FIGURE 79 UK EV ROADMAP 234
FIGURE 80 NORTH AMERICA: REAL GDP GROWTH RATE, BY COUNTRY, 2023–2025 241
FIGURE 81 NORTH AMERICA: GDP PER CAPITA, BY COUNTRY, 2023–2025 241
FIGURE 82 NORTH AMERICA: CPI INFLATION RATE, BY COUNTRY, 2023–2025 241
FIGURE 83 NORTH AMERICA: MANUFACTURING INDUSTRY CONTRIBUTION TO GDP, 2023 242
FIGURE 84 NORTH AMERICAN EV BATTERY INITIATIVES 243
FIGURE 85 NORTH AMERICA: ELECTRIC COMMERCIAL VEHICLE MARKET SNAPSHOT 244
FIGURE 86 ELECTRIC COMMERCIAL VEHICLE DEMAND, BY END USER 246
FIGURE 87 ELECTRIC COMMERCIAL VEHICLE MARKET SHARE ANALYSIS, 2024 254
FIGURE 88 ELECTRIC COMMERCIAL VEHICLE MARKET: REVENUE ANALYSIS OF KEY PLAYERS, 2019–2023 256
FIGURE 89 COMPANY VALUATION OF KEY PLAYERS, 2024 (USD BILLION) 257
FIGURE 90 FINANCIAL METRICS OF KEY PLAYERS (EV/EBITDA) 258
FIGURE 91 ELECTRIC COMMERCIAL VEHICLE MARKET: BRAND/PRODUCT COMPARISON 260
FIGURE 92 ELECTRIC COMMERCIAL VEHICLE MARKET: COMPANY EVALUATION MATRIX (KEY PLAYERS), 2024 262
FIGURE 93 ELECTRIC COMMERCIAL VEHICLE MARKET: COMPANY FOOTPRINT, 2024 263
FIGURE 94 ELECTRIC COMMERCIAL VEHICLE MARKET: COMPANY EVALUATION MATRIX (STARTUPS/SMES), 2024 269
FIGURE 95 BYD: COMPANY SNAPSHOT (2023) 279
FIGURE 96 MERCEDES-BENZ GROUP AG: COMPANY SNAPSHOT (2023) 289
FIGURE 97 NEW MERCEDES-BENZ GROUP AG 289
FIGURE 98 YUTONG BUS CO., LTD.: COMPANY SNAPSHOT (2023) 296
FIGURE 99 AB VOLVO: COMPANY SNAPSHOT (2023) 304
FIGURE 100 FORD MOTOR COMPANY: COMPANY SNAPSHOT (2023) 310
FIGURE 101 FORD MOTOR COMPANY: ROAD TO CARBON NEUTRALITY 311
FIGURE 102 TESLA, INC.: COMPANY SNAPSHOT, 2023 316
FIGURE 103 TESLA, INC.: ROADMAP 317
FIGURE 104 RENAULT: COMPANY SNAPSHOT (2023) 320
FIGURE 105 PACCAR INC.: COMPANY SNAPSHOT, 2023 324
FIGURE 106 SCANIA AB: COMPANY SNAPSHOT, 2023 331
FIGURE 107 DONGFENG MOTOR CORPORATION: COMPANY SNAPSHOT, 2023 335
FIGURE 108 GENERAL MOTORS: COMPANY SNAPSHOT, 2023 340
FIGURE 109 VDL GROEP: COMPANY SNAPSHOT 343
FIGURE 110 RIVIAN: COMPANY SNAPSHOT, 2023 347
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