The electric commercial vehicle market is anticipated to showcase a lucrative CAGR of 19.0% during the forecast period. Government purchase of the electric bus for public transportation, development of charging infrastructure, and stringent target to curb carbon emission are the prominent factors that are driving the global electric commercial vehicle market. Moreover, the entrance of a new player in the electric commercial vehicle industry and increasing research and development funding by the well-established automaker is also driving the market growth. These companies are regularly showcasing and launching new commercial vehicles with a higher traveling range and fewer charging time.
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The global electric commercial vehicle market is segmented on the basis of vehicle type, range, and application. Based on vehicle type, the market is segmented into electric bus, electric truck (medium and heavy-duty trucks), and electric pick-up trucks. Based on range, the market is segmented into less than 250 km, 250-500 km, and more than 500 km of range. Based on application, the market is segmented into public and private. Based on application, public sector is anticipated to hold the major share in the global market. The rising inclination of governments towards the adoption of green technology in the transportation sector is a key factor towards the high contribution of this market segment.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Electric Commercial Vehicle Market report Segment
By Vehicle Type
- Electric Bus
- Electric Truck (Medium and Heavy Duty Trucks)
- Electric Pick-up Truck
By Range
- Less than 250 Km
- 250- 500 Km
- Above 500 Km
By Application
- Public
- Private
Global Electric Commercial Vehicle Market Report Segment
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
The Report Covers
- Comprehensive research methodology of the global electric commercial vehicle market.
- This report also includes a detailed and extensive market overview with key analyst insights.
- An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the global electric commercial vehicle industry.
- Insights about market determinants that are stimulating the global electric commercial vehicle market.
- Detailed and extensive market segments with regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.
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