Global Electric Commercial Vehicles Market Research Report: Ken Research REQUEST FOR SAMPLE REPORT Buy Now Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit Major players in the electric commercial vehicles market are BYD, Proterra, AB Volvo, Daimler AG, Nissan, ABB, Scania AB, Tesla, Nikola Motor Company, and Tata Motors. The Global Electric Commercial Vehicles Market is expected to decline from USD 48.54 billion in 2019 to USD 40.7 billion in 2020 at a compound annual growth rate (CAGR) of -16.06%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and reach USD 96.85 billion in 2023 at CAGR of 21.8%. The electric commercial vehicles market consists of sales of electric commercial vehicles and related services. Electric commercial vehicles are electrically-powered, self-propelled electric vehicles used for transportation that helps reduce greenhouse gas releases (GHG) and pollution, that works with the help of both electric motors working in tandem. Electric commercial vehicles are used for the delivery of goods and for transport, such as passengers, that are powered by batteries and includes buses, trucks, vans and pick-up trucks. Asia Pacific was the largest market in electric commercial vehicles market in 2019 and is expected to be the fastest growing market in the forecast period. Electric commercial vehicle companies are implementing strategic partnerships for the production of electric commercial vehicles. Strategic partnerships in electric commercial vehicles involves sharing of resources and expertise that enhances the product and multiplies the result. It attracts popularity from consumers and other stakeholders, helping to increase the investment while reducing costs. For instance, in 2020, in South Korea, Hyundai Motor Company and Kia Motors Corporation strategically partnered and is investing EUR100 million (US USD 110 million) in a UK-based electric vehicle startup company ‘Arrival’ for developing electric commercial vehicles such as eco-friendly vans and commercial vehicles for logistics. The electric commercial vehicles market covered in this report is segmented by propulsion type into BEV; PHEV; FCEV. It is also segmented by vehicle type into electric bus; electric truck; electric pick-up truck; electric van, by battery type into lithium-iron-phosphate (LFP); lithium-nickel-manganese-cobalt oxide (NMC); others and by technology into battery electric commercial vehicles; plug-in hybrids; hybrids; fuel cell electric commercial vehicles. The growth of the electric commercial vehicle market is restrained by limited battery power and longer charging duration. For electric commercial vehicles, the range and performance of the battery is typically less powerful and has a limited range (60-100 miles per charge) and is considered suitable only for short-distance travel. The limited travel range of batteries of electric vehicles raises concerns among the consumers that their vehicles may run out of charge/power before reaching the destination. Longer charging duration is another major challenge for the market. Lack of availability of supercharging stations adds to the woes associated with the use of batteries in an electric vehicle. In August 2019, Dana Inc., a USA-based company specialized in manufacturing components and systems for hybrid and electric vehicles such as commercial vehicles, acquired Nordrsea Motors Inc. for an undisclosed amount. The acquisition is expected to help Dana Inc. to enhance its electrification capabilities by integrating its full range of inverters, motors, thermal management products, chargers and gearboxes with Nordresa’s battery technology, integration expertise and electrical powertrain controls to provide electrical powertrain systems. Nordrsea Motors Inc. is a Canada-based company that specializes in developing, manufacturing and commercializing electric drivetrains for commercial vehicles. During the historic period, government subsidies on electric commercial vehicles contributed to the electric commercial vehicles market’s growth. For instance, in July 2019, in India, the government of India provided subsidies for promoting electric commercial vehicles. The Minister of State for Heavy Industries and Public Enterprises at the ‘India UK Electric Mobility Forum 2019’, stated that the government of India, under the INR 10,000 crore FAME scheme, is promoting electric commercial vehicles through commercial fleet owners. The subsidies were given to three and four wheeler electric vehicles for commercial and fleet applications. The support from the government to promote use of commercial electrical vehicles is driving the market For More Information, Click on the Link Below:- Global Electric Commercial Vehicles Market Contact Us:- Ken Research Ankur Gupta, Head Marketing & Communications Ankur@kenresearch.com +91-9015378249 Tags: Battery Electric Commercial Vehicles Market, BYD Proterra Electric Commercial Vehicles Market Revenue, China Electric Commercial Vehicles Market, Daimler AG Electric Commercial Vehicles Market Share, Electric Commercial Vehicles Market Segmentation, Europe Electric Commercial Vehicles Market, Fuel Cell Electric Commercial Vehicles Market, Global Electric Commercial Vehicles Industry, Global Electric Commercial Vehicles Industry Research Report, Global Electric Commercial Vehicles Market, Global Electric Commercial Vehicles Market Analysis, Global Electric Commercial Vehicles Market Competitive Landscape, Global Electric Commercial Vehicles Market Forecast, Global Electric Commercial Vehicles Market Growth, Global Electric Commercial Vehicles Market Outlook, Global Electric Commercial Vehicles Market Overview, Global Electric Commercial Vehicles Market Research Report, Global Electric Commercial Vehicles Market Revenue, Global Electric Commercial Vehicles Market Share, Global Electric Commercial Vehicles Market Trends, India Electric Commercial Vehicles Market, Japan Electric Commercial Vehicles Market, Nikola Motor Company Electric Commercial Vehicles Market Share, Nissan Electric Commercial Vehicles Market Revenue, US Electric Commercial Vehicles Market