Title: Electric Commercial Vehicles Global Market Expected to Reach $447.04 Billion at a CAGR of 30.4% By 2028
1Electric Commercial Vehicles Global Market Report
2024
Global Forecast 2024 2033 Market Size, Drivers,
And Trends
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2Electric Commercial Vehicles Market Segments
The Business Research Company segments the
electric commercial vehicles market report as
By Propulsion Type
BEV, PHEV, FCEV.
Electric Bus, Electric Truck, Electric Van, Others
By Vehicle Type
Lithium-Iron-Phosphate (LFP), Lithium-Nickel-Manga
nese-Cobalt Oxide (NMC), Others.
By Battery Type
Battery Electric Commercial Vehicles, Plug-In
Hybrids, Hybrids, Fuel Cell Electric Commercial
Vehicles.
By Technology
3Market Statistics
The global Electric Commercial Vehicles market
size grew from 116.95 billion in 2023 to 154.64
billion in 2024 at a compound annual growth rate
(CAGR) of 32.2. The Electric Commercial Vehicles
market size is expected to grow to 447.04
billion in 2028 at a compound annual growth rate
(CAGR) of 30.4.
447.04 B
154.64 B
116.95 B
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4Key Market Drivers And Trends
Drivers
Increasing demand for eco-friendly vehicles is
expected to propel the growth of the electric
commercial vehicle market going forward.
Trends
Major companies operating in the electric
commercial vehicle market are innovating new
products such as Sierra EV pickup truck to
increase their profitability in the market.
Region
Asia-Pacific was the largest region in the
Electric Commercial Vehicles market in 2023. The
regions covered in the Electric Commercial
Vehicles market analysis report are Asia-Pacific,
Western Europe, Eastern Europe, North America,
South America, Middle East and Africa.
5Top Eleven Players In The Market
- Major players in the market are
- BYD Company Ltd.
- Zhengzhou Yutong Bus Co. Ltd.
- Daimler AG
- Proterra
- VDL Groep BV
- Irizar
- ZHONGTONGBUS Bus Holding Co. Ltd.
- Ebusco B.V.
- Navistar Inc.
- Workhorse Group Incorporated
- Mahindra Electric
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