Electric Commercial Vehicle Market worth 2,026 thousand units by 2028
                     MarketsandMarkets 
Presents
Electric Commercial Vehicle Market 
worth 2,026 thousand units by 2028
https://www.marketsandmarkets.com/Market-Reports/electric-comm
ercial-vehicle-market-16430819.html
 
The report "Electric Commercial Vehicle Market by Propulsion Type, Vehicle Type, Range, 
Battery Type, Length of Bus, Power Output Type, Battery Capacity Type, Component Type, 
Autonomous Vehicles Type, End User and Region", The global electric commercial vehicle size is 
projected to grow from 129 thousand units in 2020 to reach 2,026 thousand units by 2028, at a 
CAGR of 41.1%. 
The growth of the electric commercial vehicle market can be attributed to the increasing focus 
of countries on the electrification of their public transport fleets and the increasing demand for 
zero emission vehicles in the logistics sector. Advancements in battery pack technologies and 
electric powertrains are some of the major factors driving the growth of the electric commercial 
vehicle industry.
Browse 188 market data Tables and 65 Figures spread through 234 Pages 
and in-depth TOC on "Electric Commercial Vehicle Market”
Factors such as rise in pollution and environmental hazards, stringent 
government regulations, and stiff competition have compelled automotive 
OEMs to make fuel-efficient and environment-friendly vehicles. Thus, the 
electric commercial vehicle market is expected to witness significant growth 
in the future.
The global electric commercial vehicle market is dominated by major players such as BYD 
(China), Yutong (China), Proterra (US), VDL Groep (Netherlands), and AB Volvo (Sweden).
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Asia Pacific is expected to lead the global market during the forecast period
The Asia Pacific region is the largest electric commercial vehicle market in the world. It 
comprises some of the fastest developing and developed economies in the world, such as China, 
India, and Japan. The market growth in the region can be attributed to the dominance of 
Chinese market in the electric bus segment and the presence of market leading OEMs in the 
country as well, resulting in the exponential growth of electric commercial vehicle market in Asia 
Pacific. The large demand for electric buses, favorable regulations for electric commercial 
vehicles, and the rapidly growing logistics sector are expected to boost the electric commercial 
vehicle market in the region.
North America electric van segment is expected to grow at the highest CAGR
The North American electric van segment is expected to be the fastest market as there is a high 
demand for electric vans from the logistics sector. The increasing demand for electric vans in the 
logistics sector and focus on the electrification of public transport fleet are driving the electric 
commercial vehicle market. The growth of the logistics and e-commerce sectors is expected to 
drive the market for electric vans during the forecast period. The usage of electric vans in the 
logistics sector would minimize the cost of transportation. Many leading logistics companies in 
North America and Europe have started using electric vans for shipping and delivery purposes. 
For instance, DHL, one of the leading logistics companies in the world, is using electric vans 
while Amazon announced plans to use electric delivery vans to be built by Rivian.
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North America: U.S is expected to lead the market
The North American region is projected to be the fastest-growing market during the forecast 
period. The region is a hub to major players such as Proterra (California, U.S), Tesla (California, 
U.S), Workhorse Group (Ohio, U.S), Nikola Motor Company (Arizona, U.S) and Rivian (Michigan, 
U.S). North America is a key region for innovations; significant R&D; and technological 
advancements in electric vehicles, battery technologies, and charging solutions.
U.S is the largest market in North America, followed by Canada. Also,U.S, is home to many 
established OEMs providing electric vehicles and also has a higher adoption rate for electric 
commercial vehicles.
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