19 March 2021
Visiongain has published a new report on Electric Commercial Vehicle Market Report to 2031: Forecasts by Vehicle Type (Electric Truck, Electric Pick-Up Truck, Electric Bus and Electric Van), by Battery Capacity (Less than 50 kWh, 50-250kWh and Above 250kWh), by Propulsion Type (PHEV, BEV and FCEV), by Battery Type (Lithium-nickel-manganese-cobalt oxide, Lithium-iron-phosphate and Others), by Power Output (Less than 100kW, 100-250 kW and Above 300 Miles), by Length of Bus Type (Less than 9m, 9-14m and Above 14m), by Autonomous Vehicle Type (Electric Autonomous Bus and Electric Autonomous Truck) and by Component (EV Battery, Electric Motor, Hydrogen Fuel Cell) PLUS Profiles of Leading Electric Commercial Vehicle Manufacturing Companies and Regional and Leading National Market Analysis. PLUS COVID-19 Recovery Scenarios.
Global Electric Commercial Vehicle market was valued at US$ xx billion in 2019 and is projected to reach at a market value of US$ xx billion by 2031. The Electric Commercial Vehicle Market focussing on electrification and ease of public and private transportation by aiming zero emission Vehicles. Therefore, the Electric Commercial Vehicle market is expected to boost the demand in the market.
COVID-19 Impact on Electric Commercial Vehicle Market
As Covid-19 has caused a lot of damage in various industries, it has brought automotive industry to a stop the progress of vehicle production and supply disruptions. Analysis shows that due to pandemic outbreak the industry went to a halt and reduced its every function due to which it witnessed low sales of vehicles. However, the market is gradually balancing and expected to cater the industry again.
Initiatives taken by the companies to develop advanced technologies and applications & government regulations are one of the major drivers for electric vehicle market segment. The major driver of the market is growing focus on zero emission vehicles in supply and logistics, increasing adoption of EVs, reducing traffic jams on road and favourable government regulations. Therefore sales of electric vehicle having advanced technology will boost the market of Electric Commercial Vehicle.
Increasing pollution in the environment has encouraged the automakers to focus on electric commercial vehicles. Government is also promoting electric vehicle usage. Thus, electric commercial vehicle market will enhance in nearby future. There will be huge scope for manufacturers in many geographical areas such as Europe and Asia Pacific.
The global Electric Commercial Vehicle market is dominated by big players such BYD, Yutong, Proterra, VDL Groep, AB Volvo, Daimler, CAF, EBUSCO, Scania and, Emoss Mobile Systems. These companies have secured their position in the market to offer wide range of advanced assistance systems. The key strategies adopted by these companies is to sustain their market position are new technology, new product development, Contract agreement and Collaborations.
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